CommSec | Review | CFD Trading Platform

CommSec | Review | CFD Trading Platform

CommSec | Review | CFD Trading Platform Review

Our Review

CommSec Review

HQ: Australia

Leverage: 1:500

Min. Deposit: $10

Regulation: Australian Securities and Investments Commission (ASIC). 

Found in: 1995

Platforms: CommSec, CommSecIRESS

 

CommSec License: Commonwealth Securities Ltd is regulated by the Australian Securities and Investments Commission with the registration number ABN 60 067 254 399 AFSL 238814

 

Our Overview

What is CommSec?

10 points summary

How Protected are you with CommSec?

Awards

Is CommSec a Scam or Safe?

Account

Trading Instruments

Trading Platforms

Trading Fees

Deposit and Withdrawal Options

Education

Customer Support

Conclusion

 

 

What is CommSec?

CommSec, known as Commonwealth Securities limited, has been in the online trading industry for more than 20 years. Founded in 1998, CommSec has raised the bar and given tough competition to other brokers based in Australia. It is a subsidiary of the Commonwealth Bank of Australia and fully regulated under the Australian Securities and Investments Commission's rules and regulations. They are also a member of the Australian Stock Exchange and Chi-X Australia, in addition to the subsidiary.

They have localized themselves to Australia and do not entertain International clients. However, there are specific terms and conditions on which they may allow an international client. 

If you are based in Australia and looking for a broker, CommSec can be a brilliant choice based on the quality of service and the variety of features that they provide.

 

Pros

Cons

Excellent customer support service.

No International clients.

Regulation offered by ASIC. 

Popular MetaTrader platform not available.

Proprietary platform provides multiple features. 

CFD and Forex trading not supported.


 

10 Points Summary

Headquarters

Australia

Regulation

ASIC

Platforms

CommSec, CommSecIRESS

Instruments

ETFs, International funds, Equities, Fixed Income Securities, and Equities.

EUR/USD Spread

Commission based

Demo Account

No

Minimum deposit

$10

Base currencies

Multiple currencies supported. 

Education

Provided. 

Customer Support

24/5

How Protected Are You with CommSec?

Protection is a necessity in the trading world and cannot be overlooked. If a broker is unable to satisfy you with the protection they offer, choose a new broker. Few things can be ignored as perfection is hard to achieve, but never protection services that a broker offers. 

CommSec is regulated by the Australian Securities and Investments Commission and a subsidiary of Commonwealth Bank Australia. These associations are enough to remove any doubt anyone may have about the credibility of the famous broker.

 

Pros

Cons

Regulation offered by ASIC

None

Association with a reputable bank of Australia. 

 

 

 


 

Awards:

Awards signify the hard work, dedication, and quality of work offered by the team. They are a token of appreciation for all the tireless hours of work put in by the team. So far, CommSec has won the following awards:

Innovation Excellence 2020.

Best Featured Margin Loan 2019

 


 

Is CommSec a scam or safe?

It is advised to conduct proper and thorough research before choosing an online broker. 

Why is that so? Usually, due to a lack of knowledge, many potential and beginner traders fall into the trap of various scam brokers present online. To protect yourself and your hard-earned money that you are willing to invest, choose a reliable online broker with a reputable reputation in the market. 

CommSec has been in the online trading world for more than 20 years and has managed to build itself a trustworthy reputation. ASIC offers regulation. Therefore, CommSec is a safe choice.

 

Account:

CommSec offers four different accounts — Share Trading, Margin Lending, Options Trading, and International Share Trading. 

SHARE TRADING: The share trading account users have the benefit of placing orders before any money deposit. This unique feature allows the users to avail any investment opportunity that comes up. In this way, a user won’t be deprived of an opportunity because he doesn’t have any money deposited in his account. Investment options include Australian shares, partly paid securities, warrants, exchange-traded funds, and MINIs. 

MARGIN LENDING: The account provides loans in the form of investment funds. It is necessary to transfer any existing shares or cash that you may have as a guarantee. Once the transfer is done, it evaluates the amount that can be lent. The users are given access to all the trading tools and are at ease. The investment options are the same as the share trading account. 

OPTION TRADING: With your Options Trading Account, you can trade options instead of shares. It creates a variety of investment opportunities on your portfolio and can be linked to other CommSec accounts. All in all, it basically provides a surplus in the investment opportunities. 

INTERNATION SHARE TRADING: In this type of account, the invest chances are not limited to one type. Instead, it allows the user to benefit from different investment opportunities all across the globe. The products that can be traded with this account are ETFs and ETOs. 

However, one major pitfall is that CommSec does not offer a Demo Account. A Demo Account is a golden opportunity for potential or beginner traders to get an idea about how this works. CommSec fails to provide this ease to new traders. 

An Islamic Account is also not offered by CommSec. 


 

 

Pros

Cons

Various investment options. 

Demo Account not available.

Account opening process is fast.  

No Islamic Account available. 

Multiple account options to choose from. 

 


 

Trading Instruments

CommSec offers various trading instruments such as

Australian Shares

Warrants

Fixed Income Security

International funds

Exchange Traded Funds (ETFs)

 

Pros

Cons

Wide variety of trading instruments. 

None

Global investment options. 

 

 

 



 

 

Trading Platforms:

CommSec has developed its own proprietary web trading platform that goes by the same name, ‘CommSec”. The user interface of the web-trading platform is brilliant and straight-forward. Furthermore, the web platform is packed with powerful and analytical features such as trading limits, community forum can be approached, stock screeners, and many others. The exciting part is that the proprietary platform is developed, keeping in mind the compatibility factor. Therefore, it is compatible with all the popular web browsers such as chrome, firefox, and internet explorer. 

Do you want to trade while you are travelling and cannot carry your laptop? Well, CommSec has got you covered. The proprietary platform of CommSec is also available as a mobile application, so you can from anywhere, anytime you want. 


 

Pros

Cons

Simple user interface.  

None. 

Mobile trading is available. 

 



 

 

Trading Fees:

CommSec has a complicated fee structure that may be difficult to understand at times. The brokerage firm charges a standard fee of $10 on trades (Australian Shares, ETFs, and warrants ) up to $10,000. Similarly, on deceased estates, a fee of %59.95 is charged up to $10,000. 

A fee of $25/year is charged on inactive accounts. 

For more details, visit the website to get an exact idea about different fees on different things. 


 

Pros

Cons

No withdrawal fee is charged.

Account inactivity fee is charged. 

No deposit fee is charged. 

The fee structure is complex.  

 

 

 

 



 

 

Deposit & Withdrawal Options:

CommSec has limited deposit and withdrawal options for investors/traders.

You can directly link any of your Australian bank accounts to your CommSec account when filling the application form. So, when you place an order, the bank will automatically deduct the amount from your account.

Bpay can also be used to deposit funds. 

Education:

CommSec has a lot of educational resources on its website for potential and beginner traders. It can be hard to learn on your own, but always take full advantage of whatever educational resources come at your hand. 

CommSec offers different webinars, insights, and a how-to guide that helps investor understands the basics. 

 

Customer Support:

A company's customer support service speaks volumes about whether it cares about its customers or not. It is important to choose a brokerage firm that strives to assist individuals with whatever problems they might face. 

CommSec has a terrific Customer Support Service. The team is present 5 days a week to help young and experienced investors solve problems and can be contacted via live chat, email, or phone. The response is always rapid. 

One of the drawbacks that CommSec may have is that it does not offer its service to clients outside of the US. 

 

Pros

Cons

24/5 service.

None. 

Response time is rapid. 

 

Team can be contacted in different ways.  

 



 

 

Conclusion:

CommSec has been in the business for more than 20 years. It provides excellent customer support service along with various investment options that allow them to invest globally. 

It has its own advanced web platform that provides appealing technical features and an easy-to-use interface. Additionally, a mobile application is developed by CommSec for the ease of its investors. 

Frequently Asked Questions (FAQs)

Is Commsec regulated?

Yes, CommSec is regulated by the Australian Securities and Investments Commission. 

Is a demo account offered by CommSec?

No, CommSec does not offer a demo account to its traders. 

Is there an option for CFD and Forex trading?

No, CommSec does not offer CFD and Forex trading in its market instruments.

Can I sign up on CommSec if I live outside of Australia?

No, Commsec is limited to only Australian citizens.

Is there any withdrawal fee?

No, Withdrawals are free of any charge. 

 

CommSec | Review | CFD Trading Platform

CommSec | Review | CFD Trading Platform Licenses:

Commonwealth Securities Ltd is regulated by the Australian Securities and Investments Commission with the registration number ABN 60 067 254 399 AFSL 238814

 

Leverage:
1:500

Regulation:
Australian Securities and Investments Commission (ASIC).

Min. Deposit:
$10

HQ:
Australia

Platforms:
CommSec, CommSecIRESS

Found in
1995

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