CommSec Forex Broker

CommSec Review SummaryFounded1995Registered CountryAustraliaRegulationASICTrading ProductsShares, Options, ETFsDemo Account❌Trading PlatformCommSec Web Platform, CommSec Mobile AppMinimum Deposit0Customer SupportPhone: 13 15 19 (within Australia)Phone: +61 2 8397 1206 (outside Australia)CommSec Information Commonwealth Securities Limited runs CommSec, which has been around since 1995 and is one of Australia's best online brokers. It has a lot of different products, such as Australian and international stocks, ETFs, options, margin loans, and micro-investing tools like CommSec Pocket. This makes it a good choice for both new and seasoned investors.Pros and ConsProsConsWide range of products and servicesInternational and phone trade are costlyStrong regulatory backing (ASIC)No demo accounts availableUser-friendly web and mobile platformsIs CommSec Legit? Yes, CommSec is regulated. It works under the licensed company Commonwealth Securities Limited, which is overseen by the Australia Securities & Investment Commission (ASIC). ASIC is in charge of the rules, and the license type is Market Maker (MM). The license number is 000238814.What Can I Trade on CommSec? CommSec has a wide range of goods and services, such as Australian and foreign shares, ETFs, options, and more. This makes it a good choice for both new and experienced investors. It also has tools like margin loans, SMSF management, and even investment alternatives for youngsters and small investors.Trading InstrumentsSupportedShares✓Options✓ETFs✓Forex×Commodities×Indices×Cryptocurrencies×Bonds× CommSec Fees CommSec's prices are usually fair and reasonable compared to other brokers, especially for online trading within Australia. However, overseas trades and phone trades can be more expensive. For modest trades in Australia, fees start at $5. For foreign and options trading, there are minimum dollar or percentage fees.TypeFee DetailsAustralian Shares (online via CDIA)$5 (≤$1,000), $10 (>$1,000–$3,000), $19.95 (>$3,000–$10,000), $29.95 (>$10,000–$25,000), 0.12% (>$25,000)Australian Shares (online, non-CDIA settlement)$29.95 (≤$9,999.99), 0.31% (≥$10,000)Phone Trades$59.95 (≤$10,000), 0.52% (>$10,000–$25,000), 0.49% (>$25,000–$1M), 0.11% (>$1M)CommSec Pocket App$2 (≤$1,000), 0.20% (>$1,000)International Shares (basic account)US: $5 or 0.12%; Canada: C$40 or 0.40%; Europe: €12 or 0.40%; Hong Kong: HK$130 or 0.40%; UK: £12 or 0.40%Foreign Exchange Conversion Fee0.55% per currency conversionMargin Lending Rates (variable)~9.15% p.a. (monthly), fixed rates (1–5 years: ~7.49–7.69% p.a.)Exchange-Traded Options (online)$34.95 (≤$10,000), 0.35% (>$10,000)Exchange-Traded Options (phone)$54.60 (≤$10,000), 0.54% (>$10,000)ETO Contract FeesEquity options: $0.13 per contract (open/close), $0.05 (exercise); Index options: $0.45 (open/close), $0.35 (exercise) Non-Trading FeesNon-Trading Fees AmountApplication Fee (individual/company)$0Trust Deed Investigation FeeMinimum $200PPSR Registration Fee (govt fee)Government fee (if applicable)Account Maintenance Fee$0Printed Contract Notes (by mail)$1.95Dishonour Fee$30Rebooking Fee$25Off-market Transfer Fee$54Government Taxes/DutiesPassed on at costAccount Closure Fee (early loan payoff)Depends on loan amount and interest rate movementsDeposit/Withdrawal (CDIA accounts)Unlimited free electronic withdrawals; SMSF CDIA allows monthly free assisted withdrawalsLate Settlement Fee (Buy/Short Sell)$100SRN Query or Rebooking Fee$25Market Data (live snapshots)$1 USD complimentary per month, then $0.01 per US equity quote, $0.03 for othersU.S. Tax Form Fee$0Funds Transfer Rejection Fee$0Instant Buying Power$0U.S. ACATS Transfers In/Out$0U.S. DRS Transfers In$25 per settled transaction; rejected transactions $100Canada DRS Transfers In$30 CAD per settled transaction plus third-party feesU.S. DRS Transfers Out$5 per settled transactionTrading PlatformTrading PlatformSupported Available DevicesSuitable forCommSec Web Platform✔Web browser (desktop, laptop)Active investors, portfolio managersCommSec Mobile App✔iOS, AndroidOn-the-go traders, mobile users