About the company
CommSec is a Commonwealth Bank of Australia subsidiary. The Australian Securities and Investments Commission regulates this company, which has a distinctive yellow logo. The firm claims to be Australia’s leading broker, mostly serving Australian residents.
The broker also sells warrants, which give traders more power over options and allow them to profit from market movements. The firm that owns the asset issues them directly.
CommSecIRESS is a trading platform for Australian Stock Exchange-listed securities. The following are some of the features available on the platform:
- Market surveillance and alert capabilities
- Fast order placement and advanced charting
- Watchlist function to keep track of companies of interest.
- Opportunity to browse your portfolio online or in the app
The platform is accessible for $ 82.50 per month as a subscription. International markets, for example, are offered as an add-on for a fee. Regular traders who make 8 or more deals each month do not have to pay a membership fee. Clients can make a variety of orders, including conditional orders that involve the setting of a trigger and a limit buy price. The company automatically makes an order when the stock price hits the trigger price. Traders who are unsure how to place a stop loss will be relieved to learn that a particular falling sell order may be used to accomplish so. Clients can also choose an expiry date: “valid for a day,” which means the order must be completed before the trade closes, or 20 days, which means the order must be filled before the transaction closes. While an order is pending, you can cancel it through the website. Traders may also encounter cross-trading, which occurs when the firm’s clients buy and sell the same securities at the same time.
The CommSec App is a conventional deal platform for mobile devices that offers the same assets and costs as a desktop terminal. The app allows you to trade on the move and has full access to your portfolio, including notifications and watchlists.
Another mobile application for stock market trading given by a broker is CommSec Pocket. Clients may choose from seven ETFs, including the Global 100, and our evaluation found it encouraging that users can invest as little as $50. Users on Android can utilize widgets to display their watchlists on their home screens, while iOS users may use the Action Center. This broker charges a $ 2 fee on deals up to $ 1000 and 0.20 percent on trades of greater value.
CommSec allows customers to trade Australian equities directly. Traders can choose organizations either manually or through a “stock package” that the broker chooses from among the top firms. A report will be sent to the client if the firm decides to pay dividends to shareholders. Traders can then accept cash or participate in a dividend reinvestment scheme if one is available. Certain shares may be branded “XD,” indicating that the buyer will not receive the most recent dividend if acquired during this time.
Clients get access to 25 worldwide markets, including equities from the United States and Hong Kong, as well as NASDAQ stocks. Traders can also sign up for IPO alerts to be informed about upcoming offerings. Although specifics are few, this broker appears to provide FX trading in worldwide marketplaces.
Exchange-traded funds (ETF)
The firm sells exchange-traded funds (ETFs), such as the Vanguard Australian Shares Index ETF, which tracks the top 300 businesses in Australia. These instruments, which may be used to track the performance of bonds or indices like the S& 500, are traded like stocks and need a minimum investment of $ 500.
Fixed-income securities, often known as interest-bearing securities, entail an investor loaning money to a party who will pay interest or dividends during the loan’s life. CommSec will no longer provide CFD trading after 2020. As a result, clients are unable to purchase assets such as gold. This broker also appears to have stopped advertising managed funds, despite the fact that they may be manually added to a client’s portfolio if they are kept elsewhere, such as mFund and accepted as a margin loan. Trading in cryptocurrencies like Ripple (XRP) and Bitcoin is also unavailable at the business (BTC).
Customers should examine the website for complete data on each asset because the broker’s commission structure is complicated:
- A fee of $ 10 is charged on trades of up to $ 1000 in Australian stocks, ETFs, warrants, and fixed income products.
- Depending on the kind of contract, small charges of $ 0.05–0.45 are also levied.
- International trade fees vary by area, and you may be subject to additional taxes or market charges.