A division of the Commonwealth Bank of Australia, CommSec is a global broker and shares trading platform. It is Australia’s largest online stock broker. Although the vast bulk of its business is conducted through its Online trading platform, it also offers a telephone-based brokerage service. For added convenience, the platform offers the well-rated CommSec Mobile app.
The best trading platform Australia was founded in 1995 and is called CommSec. The CDIA is one of the trading tools & products offered by this wholesale broker to traders in Australia. For CommSec users, a unique direct investment account known as the CDIA is available.
It is a bank account or money management account that can make it simpler to profit from share market sales, making it a one-stop shop for all share trading. Before you open a CommSec broker account for online trading, read the important information in our review of the company.
- Favorable for usability
- No fee for idleness
- News and analysis
- Tools and information for monitoring
- Very bad for global stocks with unviable prices
- No live chat support, no free WebIRESS charting
What distinctive characteristics mark a CommSec share trading account?
Both beginning and experienced investors can benefit from the capabilities offered by the CommSec share trading account. Just as easyMarkets,CommSec has no minimum trading need on your regular Australian shares account. For small trade sizes, brokerage costs are low; nevertheless, they rise as trade sizes increase. The absence of an inactivity fee is a benefit.
Tools for trading
In addition to a wide variety of conditional orders, CommSec also provides margin trading and graphing capabilities.
Education and research
Ho CommSec provides daily market updates, corporate news, and broker analysis of equities.
CommSec provides options, warrants, ETFs, and shares. On Monday through Friday, from 8 am to 7 pm, you can call or email but there is no live chat option.
What You’ll Need to Open a CommSec Account
It’s rather simple to open a CommSec account if you’re an Australian resident and have all your necessary credentials on hand.
Make sure you have this information available:
- The identifying information from a state ID, such as a passport or driver’s license.
- A real Australian postal and residential address.
- A valid email address
- Your cellphone contact information.
- Your tax information for Australia (or, if relevant, other countries).
- Got it all? Then you can move forward.
When you create your CommSec account, you now have two choices.
When you open a trading account with the first, you can open a CDIA (Commonwealth Direct Investment Account).
The second option enables you to settle trades using your current bank account. CommSec wants you to open a CDIA with them rather than using another bank account, as you can see.
You can trade for as little as $10 instead of around three times that if you decide not to transact and settle with them. Your next destination is a standard set of paperwork, which, given the extensive regulation surrounding investing services, I have to say, are very painless.
CommSec promotes their CDIA-linked trading account by stating that you may start trading with just $10.00. Although that’s a reasonable cost for a single buy or sell, I want to make sure you know that this offer is only valid for trades up to $1,000. You must pay $19.95 for trades costing more than $1,000 and up to $10,000.
You will be charged $29.95 by CommSec for trades worth more than $10,000 and up to $25,000. You’ll pay 0.12% in percentage-based brokerage fees for amounts over $25,000. CFDs on equities, forex, crypto, indices, futures, options, and ETFs are available through easy Markets.
Amazing Market Tools & Trade Research
I can’t criticize the wide range of capabilities that Australia’s biggest share trading platform has crammed for investors over the course of its nearly 30-year existence.
But as I’ve already mentioned, it appeals me that CommSec and parent company Commonwealth Bank, like essentially every other trading platform out there, don’t make it simple to fully grasp portfolio performance even after spending so long at the top of the country’s online share trading market. Price action and holding value are obviously significant to investors, as I’ll explain in a moment. However, they don’t account for all of the actual investment results.