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CommSec vs SelfWealth

CommSec vs SelfWealth

Adrian Graham
Fact Checked
Dec 7, 2022

Key Takeaways: CommSec and SelfWealth are the two most popular share trading apps in Australia. Both brokerage platforms are highly regarded across Australia thanks to their reasonable trading fees, wide selection of assets and long list of trading and research tools.

CommSec is the better share brokerage platform when comparing to SelfWealth. CommSec offers a significantly wider range of assets, overall lower fees and the is backed by the security of Australia's largest bank.

Table of Contents

Best Alternative to SelfWealth & CommSec - eToro

Platform Highlights

  • Trade 8,000+ Shares, ETFs, Cryptos, Commodities & more. Wider overall selection of assets than CommSec and SelfWealth.
  • Regulated and Licensed in Australia by The Australian Securities and Investments Commission (ASIC)
  • Australia's most popular multi-asset brokerage platform for Web & Mobile devices.

SelfWealth vs CommSec: Features

When it comes to online stockbroking platforms in Australia, SelfWealth and CommSec are two of the most popular options. They both offer a range of features and benefits that can appeal to different types of investors. Below we have provided a high-level overview for investors to quickly compare key features of both platforms.

CommSec

  • Multiple Asset Classes: CommSec provides investors with the ability to trade stocks, ETFs, options, managed funds and more online. Investors can access real-time quotes and place orders 24/7.
  • Research Tools: CommSec offers a range of research tools including market reports, analyst ratings, and more. These tools can help investors make informed investment decisions.
  • Education Resources: CommSec offers a range of education resources including webinars, tutorials, and more. These resources can help investors learn about the markets and how to trade.
  • 24/7 Customer Support: CommSec provides customer support via phone, email, and live chat. Representatives are available 24/7 to answer questions and provide assistance.
  • Easy UI: A simple and user-friendly interface that makes online stock trading easy and convenient. The platform can be tailored to suit the needs of experienced traders and beginners.
  • Multiple Financial Markets: Access to a wide range of shares and other securities including international markets like the NASDAQ and Australian Stock Exchange.

SelfWealth

  • A Suite of Investment Products: SelfWealth offers a wide range of investment products, including shares, managed funds, exchange traded funds (ETFs), and more.
  • A User-Friendly Platform: SelfWealth’s online platform is designed to be easy to use, even for first-time investors. The platform provides users with all the tools and information they need to make informed investment decisions.
  • Personalised Support: SelfWealth offers personalised support to all its clients, whether they are new to investing or have been investing for many years. This includes one-on-one consultations, educational resources, and more.
  • A User-friendly Interface: SelfWealth's platform is designed to be user-friendly, with clear menus and simple navigation. This makes it easy to find the information you need, and to place trades.
CommSec platform.
CommSec platform.

Is CommSec better than SelfWealth?

Overall, yes CommSec is a better platform than SelfWealth. CommSec and SelfWealth have relatively similar value propositions when comparing their key features. Both brokerage platforms offer low fees and have a similar range of assets for investors to choose from.

One important factor to consider is that CommSec has dynamic fees depending on your trading volume. For example, if you are trading with less than $1,000 there is a brokerage fee of $9.50. However, if you go over $1,000 per transaction, the total charge is $19.95. SelfWealth on the other hand remains at $10 per trade.

Which platform offers lower fees?

SelfWealth has offers a simple fee structure, with a flat charge of $9.95AUD per trade. In addition to the trading fee, there is a small fee to cover withdrawals and foreign exchange costs.

CommSec offers low fees, but not lower than the SelfWealth platform. There is a 0.12% fee on stock trades with an investment value above $25,000. There are no additional fees like account management, ticketing or FX fees.

Winner: SelfWealth has lower fees overall no matter the size of the trade.

SelfWealth Fees Schedule.
SelfWealth Fees Schedule.

Does CommSec have better security than SelfWealth?

SelfWealth has acquired an Australian Financial Services Licence under license number is 421789. AFSL holders are governed by Australian Securities and Investments Commission. It has implemented security measures such as 2FA and it uses Amazon Web Services to host the solution.

CommSec is the most secure banking institution in Australia and is owned by one of Australia's Big Four banks, CommBank. Commsec uses client password protection, 2FA SMS authentication and extremely sophisticated fraud monitoring software. It is regulated by the ASIC.

Winner: CommSec has considerably better security than SelfWealth as it is Australia's largest and most secure banking institution.

CommSec vs SelfWealth: Customer Support

SelfWealth offers 24/7 customer support via multiple channels including email (support@selfwealth.com.au), phone, live chat and via mail. Additionally, the customer support team can be reached via Twitter, Facebook, LinkedIn, YouTube & Reddit.

CommSec also support 24/7 customer support via email (support@selfwealth.com), phone (13 15 19), live chat, online ticketing system and mail. The team can also be contacted via Twitter and YouTube.

Winner: CommSec offers more customer support options than SelfWealth but has less online communities.

CommSec Contact Form.
CommSec Contact Form.

Are both platforms available on mobile?

SelfWealth is available to download as a mobile app on both iOS and Android devices. For Apple users, the application can be downloaded on iPad and iPhone. SelfWealth is ranked #175 overall in the Finance category, and rated 2.2 stars out of 400 reviews on the Apple app store.

CommSec also offers a mobile trading app, which allows clients to trade on the go. The app is available for both iOS and Android devices. On the Apple app store it is ranked #30 in the Finance category and is rated 4.4 stars from 4.5K reviews. And on the Google Play store it is rated 3.2 stars from 2.7K Reviews.

Winner: CommSec offers a significantly better mobile application, it is ranked and rated higher than the SelfWealth app.

CommSec Mobile App iPhone Screenshot.
CommSec Mobile App iPhone Screenshot.

Final Verdict

All factors considered, we would recommend CommSec as the best destination to start investing in stocks and other assets. For large investors, they offer a more diverse array of assets and ways for you to capitalise on global markets. For smaller investors, they offer a better and cheaper brokerage through CommSec Pocket that makes it convenient for new investors.

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Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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