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Wanna see if CommSec is a legit broker? Is it safe to trade? Is spread high or low? How long to deposit or withdraw funds?

We provide answers to all the questions in this CommSec Review.

We checked CommSec licenses and regulation status, compared CommSec Fees, spread & commission from the Live account to other 150 brokers. The time for deposit & withdrawal and many more findings, all you can get in this Review.

What is CommSEc

CommSec is a subsidiary of Commonwealth Bank of Australia and is online trading broker.

CommSec being a part of reputable bank provides good safety layers and is regulated by Australia Securities and Investment Commission (ASIC).

CommSec Highlights

πŸ—ΊοΈ Regulated inAustralia
πŸ›‘οΈ Is CommSec safe to tradeYes
πŸ’΅ EUR/USD spreadComission basis
🏦 DepositConnected to Bank Account
πŸ’° Minimum depositUS$500
🏦 WithdrawalConnected to Bank Account
πŸ’» Trading platformCommSecIRESS, Mobile App
πŸ’³ Trading marketsShares, Options, Cash, Fixed Income Securities, Equities, ETFs and International Funds
πŸ“ˆ Number of product300+
πŸ“‰ Live chat responseInstant and relevant answers

Regulation

License and regulation are the keys to trading security. There are two factors to check, the broker’s license with its background and how traders protected if anything go wrong.

Is CommSec legit

CommSec is regulated by the local Australia Securities and Investment Commission (ASIC) and is solely operating in Australia jurisdiction.

CommSec Licenses and Regulatory status

EntityRegistered inRegulatorLicense no.Status
Commonwealth Securities LimitedAustraliaAustralian Securities and Investments Commission (ASIC)ABN 60 067 254 399AFSL 238814Currently Regulated
CommSec Review – ASIC Register
CommSec Review – ASIC Registerr

Is CommSec safe

CommSec considered safe because it is regulated by the top-tier ASIC and is a subsidiary of Commonwealth Bank.

Commonwealth Bank has a good reputation, long years of operation, providing good safety. CommSec subsidiary specifies additional opportunity to trade markets online and allowing to trade and invest legally.

CommSec Compensation Scheme

EntityCompensation AmountNegative Balance Protection
CommSec Asia Pacific Pte LtdNo ProtectionYes

CommSec provides negative balance protection for the accounts that due to trades went below zero. Where the protective measures are set according to ASIC regulations.

Markets and Products

CommSec offers opportunity to trade Australian Shares, Options, Cash, Fixed Income Securities, Equities, ETFs and International Funds.

CommSec does not offer typical Forex and CFDs instruments that are popular but mainstays on its unique access to trade and investment in Australia based financial products.

Shares

Australian Shares is a key point in CommSec proposal, where you can access and trade shares at market price also invest via pre-defined investment programs or tailored starting from 500$.

Account types

CommSec has no different account types, it offers solution according to your investment or trading need offering Shares Trading, Options Trading, Margin Lending and International Shares Trading.

Login

CommSec Login is an online account area where you can monitor and access your trading or investment activity, and is available on main page of the website.

CommSec Pocket

CommSec Pocket is a simple to use app allowing to build investment portfolio and choose from 7 investment options starting from 50$.

CommSec Review – Investment
CommSec Review – Investment

Fees and commissions

Fee levels in CommSec ranked low. However, CommSec offering is quite unique so we could not compare it properly to other 150 brokers Live account spread in our database.

The spread we collected for popular instruments from 6 markets and over 150 brokers

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

CommSec CFD trading costs are built into brokerage fees or comissiong.

You can trade or invest using either online platform or settle it to your bank account, trade over the phone or use CommSec Packs where fees for each solutions are different. See snapshot below.

CommSec Review – Brokerage Fees – Australian Shares
CommSec Review – Brokerage Fees – Australian Shares

Other Fees

CommSec has low non-trading fees. There are no fees for deposits and withdrawals since you connect your trading account to bank account.  

Trading Conditions

The trading conditions at CommSec for its kind of trading are good. You can deploy various strategies hedging and Scalping strategies, however selling shares may require you attention.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

For hedging, there are no time limitations for keeping your open hedging positions.

For scalping, CommSec does not restrict timing for scalping but may be not as usual scalping process due to the nature of trading instruments.

Expert Advisors (EAs) are not available, nor VPS is provided since MT4 is not available.

Shares trading

CommSec offers solution to borrow and use Shares from shareholder and speculate on price movement, for some trades CommSec may require shareholder reference number or SRN.

CommSec allows use of Margin Loan which transfers your existing shares or funds into collateral and calculated as per multiplied amount. Change of levels and leverage depending on the instrument.  

Deposit

CommSec has no deposit fees. Due to nature of CommSec trading you can only connect your existing Bank account or nominated settlement account to your trading account.

If you sign for investment packs or programs defined amount will be charged directly to your bank, or if you trade Shares or other instruments trading amount will be credited directly to bank account likewise.

Minimum Deposit

There is no minimum deposit requirement but there is a minimum CommSec Pocket requirement costing 50$ or initial purchase of a minimum marketable parcel of shares worth 500$.

Withdrawal

You can make withdrawal requests to your denominated bank account. Typically, withdrawal requests are done within 2-3 business day.

Withdrawal MethodWithdrawal TimeFee
Bank Transfer1-3 business days0$
CommSec Review – Deposit and withdrawal

Bonus

There is no welcome Bonus or any other trading bonuses available at CommSec. The only benefits are offered for Professionals for rewarding active traders’ program known as CommSec One that gives numerous trading benefits and dedicated support. 

Trading Platform

CommSec offers CommSecIRESS for live quotes and data. Also, you can access you online account from any device across Windows or Mac devices and place order by CommSec Account online.

App

Another option is to use CommSec App for Android or iOS and place or manage order via account area or online platform.

CommSec Review – Trading – Placing Order on CommSec Account
CommSec Review – Trading – Placing Order on CommSec Account

Research and Tools

CommSec research tools are limited but enough for smart research. You can find tools directly on the platform, or your CommSec Account and some are available on the website.

CommSec Research tools:

  • CommSec platform
  • CommSec website – Market News
  • Economic Calendar, Calculators, Podcast, Real-time News and Market Analysis
CommSec Review – Research
CommSec Review – Research

Education

CommSec education content is good, you can access it through the website Education section. CommSec Learn provides Video tutorials, Demo account, Live Webinars, Insights, Podcast and course for beginners.

At CommSec you can learn though the following ways:

  • Demo account
  • Educational videos
  • Live Webinars
  • Learning articles
  • Insights
CommSec Review – Education
CommSec Review – Education

Customer Service

CommSec customer service is good, there is deep FAQ section and various ways to contact support. We got relevant answer through e-mail, but Live Chat is not available.

Contact

CommSec Customer Support is available 24/5 in various languages:

  • Twitter
  • Telephone
  • Email, Question Form
CommSec Review – Customer Service
CommSec Review – Customer Service

CommSec e-mail response is fast speed, the agents are helpful.

Question AskedWe asked about accounts opening for other nationalities.
Time of ReplyWe got response within 1 day.
Quality of ReplyThe answer was relevant and informative.

Conclusion

CommSec is a safe broker to trade. The company has strong background operating as part of the known Australian Bank Commonwelath.

For trading offering, CommSec proposal is rather unique but truly on eo fthe best in its kind, it does not have typical Forex or CFDs trading but proposing great investment and trading of Shares, Option or Loans which is very well developed and proposed.

We recommend CommSec for traders who looking for Australian or International Shares trading, also for Australians looking for investment portfolio and opportunity

Author of this review

By Jimmy O'Brien

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.

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