eToro vs CommSec
When it comes to choosing a stock trading platform, Australians have a lot of options. But two of the most popular platforms for Aussie investors are eToro and CommSec.
To help you decide which one is best for you, we've compared eToro vs CommSec on fees, available markets, deposit options and cryptocurrency offerings.
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|---|---|---|
| Total Fees | 1% per trade | Starting at $19.95 per trade |
| Markets Available | Stocks, ETFs, Cryptos, Commodities + More | Stocks, Commodities, Bonds, ETFs and Options |
| Year Founded | 2008 | 1995 |
| Cryptos Available |  |
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| iOS and Android App | |
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| Fiat Currencies | USD | AUD or USD |
| User Experience |  |
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| Overall Rating | |
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| Website | Visit eToro | Visit CommSec |
78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Trading Fees
eToro is well known for its low fees. In fact, all of the trading fees across the platform are completely free of charge. The only fee eToro takes when using their platform is through the 'spreads' in their price. The spread is the difference in price between the buy and sell price. The spread is generally around 1%, but will vary depending on the asset you invest in.
CommSec is a little more expensive than eToro, with trading fees starting at $20. However, it does offer some free trades each month for those who meet certain criteria.
User Interface
The eToro platform is a much more modern user interface across their slick web and iOS/Android mobile apps. The eToro trading dashboard lets you easily navigate between their variety of markets include stocks, ETFs and cryptocurrency. Their UI is great for beginners and advanced traders thanks to their advanced charting tools.
CommSec on the other hand is a very traditional exchange, which has a similar user interface to CommBank and other bank websites. Its simplicity does mate it very easy to navigate however, and the CommSec mobile app is slightly more modern on iOS and Android.
eToro vs CommSec Available Markets
One of the great things about eToro is that it offers a wide range of markets to its users. Not only can you trade stocks, but also commodities, indices, currencies and even cryptocurrencies.
CommSec also offers a wide range of markets, although not quite as many as eToro. Users can trade stocks, indices, forex and even some commodities. However, there is no option to trade cryptocurrencies.
You can also trade CFDs on over 2,000 assets on eToro, compared to just 190 on CommSec.
Deposit Options
eToro offers the widest range of deposit options, including credit/debit cards, PayPal, bank transfer, Skrill and wire transfer. You can also use cryptocurrency to deposit funds into your account.
CommSec only accepts deposits via bank transfer or BPAY. This makes it less convenient than eToro, which offers a variety of payment methods.
OTC Desks
If you are in institutional investor looking for white-glove service to buy or sell over $250,000 AUD of assets - we recommend you use an over-the-counter (OTC) desk.
The premier brokerage in Australia is without doubt CommSec One, which is CommSec and CommBank's specialty OTC Desk
eToro vs CommSec: Which is Better?
So, which platform is the best choice for you? If you're looking for a platform with low fees, a wide range of markets and deposit options, plus the ability to trade cryptocurrencies, eToro is the clear winner. Check out out full eToro Review for more information.
However, if you're only interested in trading Australian shares, CommSec may be a better choice because they have a wider variety of Aussie stocks.
