- What is CommSec?
- Is CommSec safe or a scam?
- CommSec Pros and Cons
- Deposits and Withdrawals
- Trading Platform
- Customer Support
Our Review Method
- 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offering, fees, platforms, verified regulations, contacted customer service and placed traders to see trading conditions and give expert opinion about CommSec
What is CommSec?
CommSec is an Australian brokerage firm that operates for over 20 years confirming its successful position in the industry and always striving for professionalism in everything they do. Originally, CommSec is an investment firm that offers vast opportunities to either invest through 7 simplified options or trade yourself.
Is CommSec any good?
Eventually, CommSec is one of the leading online trading providers within Australia, which actively maintains the financial growth of the industry, educating traders and even supporting regional communities through various programs.
Is CommSec expensive?
No, we consider CommSec a good value broker also there are options for beginning traders and low deposit requirements at the start.
CommSec Pros and Cons
CommSec is one of the leading online trading providers within Australia with an excellent reputation and is a well-regulated broker. There are Great investment opportunities and unique access to trade Shares and Options on the choice between CommSec, and CommSecIRESS platforms with Quality customer support.
For the Cons, a Broker might be more suitable for professional traders, there is No Forex and CFD trading and No Demo Account.
|Strong establishment and well regulated broker||Support not available 24/7|
|Great investment opportunities||Broker might be more suitable for professional traders|
|Unique access to trade Shares and Options||No Forex and CFD trading|
|Ultimate trading technology||No Demo Account|
|Choice between CommSec, CommSecIRESS platforms|
|Rewards and trading promotions|
|Quality customer support|
CommSec Review Summary in 10 Points
|🗺️ Regulation||Australian ASIC|
|🖥 Platforms||CommSec, CommSecIRESS|
|📉 Instruments||Shares, ETFs, Options, Cash, Fixed Income Securities, Equities and International Funds|
|💰 EUR/USD Spread||Commission charge|
|🎮 Demo Account||No|
|💳 Minimum deposit||$500|
|💰 Base currencies||Various currencies supported|
|📚 Education||Professional Education with Webinars and advanced research|
|☎ Customer Support||24/5|
Overall CommSec Ranking
With its favorable trading conditions, CommSec has earned a reputation for being a reliable broker among experienced traders. Our experts have found that the service is top-notch and highly recommend it as an excellent choice.
- CommSec Overall Ranking is 7.9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Advantage||Share Trading||Good for Beginners||FX and CFD Trading|
CommSec Alternative Brokers
However, CommSec instrument doesn’t offer Forex and CFDsm also doesn’t have a demo account. The broker is not suitable for beginner traders and the minimum deposit is higher. Even though conditions and education are really good at CommSec is good to consider other brokers too, see our selection of Alternative Brokers below:
Is CommSec safe or scam?
No, CommSec is not a scam it is a reputable firm authorized and regulated by the Australian ASIC regulator with low-risk Investment due to regulations.
Is CommSec a regulated broker?
CommSec is a trading name used by Commonwealth Securities Limited a wholly-owned subsidiary of Commonwealth Bank of Australia, a market participant of the ASX and Chi-X Australia. As a result, being a subsidiary of a strong established financial company and a bank, its trading service and all settlements are respectively authorized by the Australian Securities and Investment Commission (ASIC) and oblige to necessary laws.
- As we timely say, the regulatory overseeing and reputation within the finance world always act in your favor as a regulated company means the broker is constantly audited and maintaining transparent conditions.
Ever since CommSec is a regulated broker, also a part of a very reputable Bank within Australia that gives you a better understanding and trustable exposure to the market along with competitive trading conditions.
See our conclusion on CommSec Reliability:
- Our Ranked CommSec Trust Score is 9 out 0f 10 reflecting years of excellent reputation and unparalleled service. As a leading low-risk broker regulated by ASIC, CommSec sets the standard in secure investments.
|CommSec Strong Points||CommSec Weak Points|
|Regulated international broker||None|
|Part of a trustable and reputable Bank in Australia|
|Strong protective measures|
Apart from the provided security as per regulation requirements, CommSec also protects client funds, also by its Banking regulated service, and harmonizes experience within and beyond the market. In addition, treading with a regulated broker you may always count on support in case there are any misunderstandings or questions appearing throughout your cooperation, which is never the case with unregulated firms.
Trading always walks in parallel with the risk of capital loss, despite the normal winning losing process of trading there are risks increasing if you use leverage. The leverage tool indeed is a powerful feature, which is designed to magnify your potential gains and trade a bigger size, yet you should learn carefully how to use it smartly.
CommSec Leverage Level depends on several factors like jurisdiction, account type as well as traders’ proficiency level defined by each instrument individually so the full details may be always checked through a trading platform.
- Being regulated by ASIC, CommSec doesn’t allow high leverage levels allowing the maximum level up to 1:30.
CommSec offers a pretty unique way of investment, in fact, the broker doesn’t provide typical account types. CommSec Account types are tailored to the solutions that the broker offers. Hence, the broker offers Shares Account, Option Account, Margin Account, and International Share Account.
CommSec developed its proposal through a choice between 7 Investment Options so you can choose a suitable portfolio to trade along with the competitive condition CommSec provides. Also, important to note that CommSec developed its offering with a trough of a client so all accounts are tailored solutions which you will discuss with customer support.
Is CommSec good for beginners?
The very beginners are also offered simplified investment options called CommSec Pocket where with only 50$ you can build your portfolio over time.
What are CommSec Share Packs
Also one of the greatest CommSec opportunities is real-time access to shares and market prices, regardless of the amount you trade so that you may find a fast and steady process to deploy your strategy. It means you may open a CommSec International Securities Trading Account with exposure to over 25 leading global share markets including London and New York Stocks.
How to open an Account?
As for the Trading account itself, CommSec allows the opening of account based on an existing bank account or open a Cash account using CommSec Share Trading account for the seamless settle of trades.
So the options are:
- Firstly go to CommSec Sign In page – ‘Join Now’. You may also sign with an existing account on Facebook or Google.
- Enter your personal data (name, email, phone number, etc)
- As for the Trading account itself, CommSec allows the opening of account based on an existing bank account or open a Cash account using the CommSec Share Trading account
- Complete questioner about your trading experience and expectations
- Once your account is activated and approved by customer service you can start trading
|Fast account opening||No Demo Account|
|7 Investment Options|
|Selection of base currency|
|Investment and Wealth Management|
|Beginners Investment Opportunity with 50$|
|Daily Analysis and Exclusive Webinars|
|Reward Program – CommSec One|
Apart from numerous trading instruments including Shares, Options, Cash, Fixed Income Securities, Equities, ETFs and International Funds, CommSec also allows enhancing your portfolio with unique offerings.
The beginners may be advised to join various investment programs, while active traders may sign for specified conditions. Professionals that met specified criteria over a 12-month period are also offered the rewarding active traders’ program known as CommSec One which gives numerous trading benefits and dedicated support.
- CommSec Markets Range Score is 7.8 out 0f 10 for a good selection of trading instruments, however, the lack of Forex and CFD trading instruments is a major drawback
CommSec Review’s important point is its fees, so the broker developed quite comprehensive conditions that may suit traders of any size, portfolio or need mainly built into a commission charge.
Also, due to its trading professional environment, there are additional fees that may occur, depending on the services you may use require, so you better check Fees through the official website by the link.
- CommSec Fees are ranked low with overall rating 8 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on the account type and the asset you trade.
|Fees||CommSec Fees||Interactive Brokers Fees||Dukascope Fees|
CommSec developed an interesting pricing strategy considered as low brokerage rates that starts from 10$ per trade for trades under 1,000$ giving you a better value for money.
CommSec trading fees are actually based on a commission basis and doesn’t offer spread-based trading, that are depending on the instrument you trade, as well as getting lower as long as your trading size increases. Also additional benefits and better conditions applicable either through CommSec One program or other tailored conditions according to one’s own investor needs.
- CommSec Spreads are ranked low with overall rating 7 out of 10 based on our testing comparison to other brokers. In fact, broker’s fees are completely commission-based and it doesn’t offer spread-base trading.
Therefore, fees will vary according to the Share or Asset you trade where also trades are divided either if you trade them over the Phone or are charged by Packs, alike $66 per pack of 6 Australian stocks, see more example on the snapshot below.
CommSec Funding Methods
Since CommSec offers professional trading of Shares your account is automatically connected to your nominated settlement bank account, so all the transactions are connected to it directly. Practically, it means that once you settle an order the amount on which you bought Shares will be automatically debited from the bank account, and the same goes on with the sale of Shares as well.
- CommSec Funding Methods we ranked Excellent with overall rating 7.6 out of 10. Minimum deposit is higher than the industry average offering minimum deposit of $5oo yet, the only available funding method is via bank transfers
Here are some good and negative points for CommSec funding methods found:
|All costs are charged to your card directly upon the trade||High Minimum Deposit|
|No deposit fee|
|Withdrawals free of charge|
What is the minimum trade on CommSec?
If you sign for beginners CommSec Pocket minimum deposit is $50 for the parcel. Since the CommSec Share Account connected to the initial bank account, there is no specification on how much money should be there. However, the initial purchase of any particular shareholding must be at least $500 worth of shares, known as a ‘minimum marketable parcel of shares’.
CommSec Withdrawal Options are automatically returned to you connected Bank account, similarly to deposits while trading or investment transaction directly taken and refunded to you account.
CommSec trading platform mainstays on its own powerful trading software with the same name, which is aggregated by the front-end technology and powerful feature, all packed with the utmost level of security. All Shares trades go directly from the software while charges for trades are taken directly from your bank account and connected card.
In addition, for live-stream quotes and data CommSecIRESS serves your need as response instantly to market movements. Even though CommSecIRESS is a paying service, in case you execute 8 or more trades you will get complimentary access to it. IRESS in general is a quite comprehensive platform, a quite known software famous for its powerful and sophisticated charting and analysis features.
- CommSec Platform is ranked Excellent with overall rating 7.9 out of 10 compared to over 500 other brokers. The broker offers only its propriatery platform and doesn’t have any alternative platform
Trading Platform Comparison to Other Brokers:
How to place order?
So in order to initiate trading with CommSec, as a powerful Shares trading, you firstly need to set up a trading account which is either connecting CommSec to your existing bank account or setting a new one.
Then you may place orders through your CommSec Account online by navigating through an online account to Trading-> Shares Place Order.
Also, you may use CommSec mobile app that also gives you full capacity of control over your orders or an account. In addition, CommSec offers you placement through access via phone or internet so the broker will place the order on your behalf, which may also incur additional charges.
The selling process goes a similar simplified way, even though it is sometimes complicated or impossible with other brokers.
Selling also is determined either you Chess sponsored with CommSec or held share registry, since in other way broker may need your shareholder reference number SRN to proceed with orders. However, all the processes may be completed with full support of CommSec so the procedures are seamless and essential at a time you need it.
One of the other great points we should admit is Customer Support CommSec provide, being truly a supportive partner for its investors you can find answers or understanding for your concerns.
CommSec support available with service the trader requires daily, also operating Shared trading via phones, which is also on a very sustainable and professional level. Even though you can access them via Live Chat, Phone or Email them within working hours 24/5.
- Customer Support in CommSec is ranked Excellent with overall rating 9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared too other brokers, however, it is not available on weekends
See our find and Ranking on Customer Service Quality:
CommSec education resources are available for traders for free, CommSec stands here at the strong foot as well, as broker developed not only great learning materials which make Shares trading understandable process. But also support with insights, Webinars and everything you need to get started or follow the success trading path.
In addition to its powerful and diversified trading opportunity CommSec also offers research materials you can trust, including Goldman Sachs stock and Morningstar ratings together with the latest tools like CommSecIRESS.
- CommSec Education ranked with overall rating 8.8 out of 10 based on our research. The broker provides very good quality Education Materials, excellent research and provides free Webinars, Excellent Trading videos and Analysis
CommSec Review Conclusion
Overall, CommSec is a company with a strong background based on the efficiency and reliability of Commonwealth Bank. The trading environment is also a comprehensive feature mainly suitable for active and professional traders due to its sophisticated technology and access to professional instruments, mainly offering to trade Shares. However, beginning traders are welcomed also, as the broker provides leading educational materials, as well as offers investment programs suitable for investor of any size or need.
The broker is not suitable for traders preferring CFD and Forex Trading since the broker doesn’t offer ones. CommSec conditions are designed for active traders. Any other program for passive investments copy trading, or bonus offers are not provided.
Based on our research, CommSec broker is suitable for:
- Professional Traders
- Share Trading
- Stock Trading
- Option Trading
- Commission-based Trading
- Traders from Australia
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