Summary: CommSec and its mobile app, CommSec Pocket, are prominent in Australia's online trading scene. Backed by the Commonwealth Bank, CommSec offers a wide range of Australian and global stocks. CommSec Pocket simplifies trading with themed investment choices, known as ETFs (Exchange Traded Funds). For those seeking varied investment options and an advanced trading brokerage platform, CommSec is the best strong option.
- Access to all large Australian and international stock markets like the ASX & NYSE.
- Both Share and ETF (Exchange Traded Fund) trading available.
- Low fees starting from $5 AUD and up to 0.12% for over $25,000.
CommSec vs CommSec Pocket Overview
Inaugurated in 1995, CommSec is a leader in Australia's online trading ecosystem, benefiting from the robust backing of the Commonwealth Bank of Australia. Over the years, it has cultivated a devoted user base thanks to high-end features like live data feeds, a wide spectrum of international stocks, and a detailed research center. Its desktop and mobile compatibility is praised, and the platform offers diverse investment products such as options and bonds.
Making its debut more recently, CommSec Pocket is the platform's mobile application designed to streamline the investment process. It comes with pre-packaged investment themes, aiming to simplify choices for new and casual investors. While it may lack the extensive feature set of its parent platform, CommSec Pocket shines in its user-friendly design, making it a suitable choice for those who want simple investment options, all within the familiar CommSec environment.
Products and Services
CommSec offers Australian and international shares, derivatives like options and warrants, and fixed-income products like bonds. The platform provides a unique feature called CommSecIRESS, a dynamic trading platform that delivers real-time data, market research, and trading tools. Additionally, it has a 'One-Click Trading' feature for quicker execution and the 'SharePack' offering, which is a pre-selected bundle of blue-chip stocks aimed at diversifying investor portfolios.
CommSec Pocket focuses on making investing simple and accessible. The app offers seven different investment themes, including 'Aussie Top 200' for local market exposure and 'Tech Savvy' for those interested in technology companies. Unlike its parent platform, CommSec Pocket is designed for micro-investing, allowing users to invest with as little as $50. It has a user-friendly interface and provides simplified reporting features to track your portfolio's performance.
Winner: CommSec delivers a winning experience by combining a rich array of investment choices with high-quality research tools.
CommSec is supported on desktop, mobile and tablet devices, giving investors more options to use depending on their circumstances. The app is rated 4.3 stars on the Apple Store and is available to use on mobiles, tablets and Apple Watches. It can also be downloaded on the Google Play Store, where it is rated 4 stars.
Winner: CommSec is the better option as it is compatible with all forms of communication devices, unlike CommSec Pocket, which can only be used on mobile phones.
CommSec and CommSec Pocket Fees
CommSec operates on a variable fee structure that kicks off at $10 for transactions up to $1,000 and adjusts according to the value of the trade. This design is intended to suit a broad spectrum of investors, from the occasional trader to the more active market participant. Additionally, it provides flexibility through its multiple account types, each with its own set of fees.
CommSec Pocket embraces a simplified fee approach, charging a flat $2 fee for investments as low as $50. This makes it particularly appealing for beginners or those looking to invest smaller amounts without getting burdened by high costs. It's a model that clearly spells out costs from the get-go, eliminating any guesswork.
Winner: Both platforms are designed with different investor needs, and their fee structures reflect this philosophy. While CommSec caters to a diverse investment crowd by offering a flexible fee model, CommSec Pocket aims to make investing straightforward and affordable with its flat-fee mechanism.
CommSec offers a flexible approach to minimum deposits. Interestingly, it does not require a minimum deposit to open a trading account. However, when it comes to share trading, your initial purchase must be at least $500 worth of shares, known as a 'minimum marketable parcel of shares’.
CommSec Pocket is designed to make investing more accessible, especially for beginners. The minimum deposit required to invest with CommSec Pocket is just $50 AUD. The app charges a brokerage fee of $2 for trades up to $1,000 in value and 0.20% for trades above that amount. It's worth noting that to operate a CommSec Pocket account, you'll need an eligible CommBank transaction account.
Winner: CommSec Pocket has a lower minimum deposit when compared with CommSec, allowing users to start with just $50.
In the Australian online trading arena, both options offer valuable services, but CommSec stands out for its comprehensive features and flexibility. It provides a wide range of investment options, from Australian and global stocks to derivatives and bonds. Its advanced research tools and real-time data make it a top choice for serious investors.
While CommSec Pocket is user-friendly and great for beginners, it lacks the extensive features and device compatibility that CommSec offers. CommSec's variable fee structure also accommodates a broader spectrum of investors, making it a more versatile platform overall.