October 4, 2019
CommSec broker review

CommSec or Commonwealth Securities Limited is an Australian online broker with 20 years of stock trading experience. It is led by Commonwealth Bank of Australia, which is a subsidiary of one of Australia's four major banks. Offers trading of shares on the international market, contracts for difference, exchange-traded funds, warrants, fixed income securities.

CommSec is a recognizable brand among Australians. The broker was founded in 1995, making it one of the oldest trading platforms in Australia for the retail market. It is one of the largest and best-known online brokers in this country.

CommSec is available to both beginners and experienced investors. Uses the WebIRESS platform, which is quite intuitive and easy to use, so that new traders can easily navigate the proposed features. It includes all the necessary tools for market monitoring, free data feeds and research on all traded securities. The only drawback is that the stock movement chart opens for a fee. 

There are no minimum trading requirements on a standard Australian account: no inaction fee or any other monthly fee is charged. However, brokerage fees are not the lowest for transactions worth more than $1,000. Depending on which account to choose, you can trade in several different markets:

  • Australian shares listed on the ASX.
  • – International stocks listed on more than 25 of the world's largest stock exchanges: NYSE, NASDA', LSE and TYO.
  • Trading options. Allow to buy more shares of the company at a certain price level.
  • Exchange-traded index funds. Purchase and sale of ETF funds and other exchange-traded products that are traded on the ASX.

When faced with problems or questions, the CommSec customer has several options: go to a page with frequently asked questions, download information manuals on the site, call or write. Unfortunately, the broker does not have a live chat with support. 

International Securities Trading 

With the CommSec International Securities Trading account, you can take advantage of investment opportunities around the world. This account provides access to more than 25 of the world's leading stock markets, including the New York Stock Exchange, NASDA's and the London Stock Exchange.

CommSec International Trading provides access to market news, sector analysis, stock news, index information for U.S. markets, including real-time prices. In the account, it is convenient to track your positions online and trade U.S. options and exchange-traded funds with round-the-clock customer service.

With this account, you can trade options on the U.S. Stock Exchange. Transactions are limited to a "risk limit" strategy where the maximum loss is an initial investment. As well as U.S. exchange-traded funds. They combine the investment advantages of a managed fund with the simplicity and profitability of stock trading.

Brokerage fees 

There are a few basic fees and commissions you need to know when using CommSec:

  • Brokerage fees. They vary depending on the amount traded and the method of calculation chosen. For Australian clients with a CDIA account or margin loan account, the fee is $10 for transactions with Australian shares of up to $1,000. For deals up to $10,000, the commission will be $19.95. 
  • International training camp. They vary depending on which country the shares you want to buy are listed in. U.S. stock price is $19.95 per transaction up to $5,000; $29.95 per transaction up to $10,000. The stock listed on the London Stock Exchange is $39.95.
  • Current commissions. Pay nothing when you first open a CommSec stock trading account, there is no monthly billing or activity charge from your Australian account. International accounts will be charged an annual fee of $25 if at least one transaction has not been made during the year.

Conclusion

The main drawbacks of the broker – the lack of support in the chat and the fee for inactivity of the international account. Also drawbacks are the lack of real-time graphics software in your base account to build graphs in real time. However, it can be added for a monthly fee or by completing a minimum number of trades per month.

CommSec's advantages are a great experience in the market, a well-known and reliable name among Australian traders. The intuitive user interface makes the process of buying and selling shares simple. Customers have access to a team of trusted analysts, which is a huge plus for traders seeking to benefit from decision-making. Another positive aspect is data collection and monitoring tools, including company profiles, releases and market alerts. We hope that the commSec broker review will help you decide on an intermediary to conduct trading on international exchanges.

VN:F [1.9.22_1171]