CommSec, with regards to the broker’s spread list, CommSec charges a spread of 0.60% on the wholesale rate at the time the rates are locked.
Finding a reputable list about CommSec Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Fees and Spreads
With regards to the broker’s spread list, CommSec charges a spread of 0.60% on the wholesale rate at the time the rates are locked.
For trades in currencies to which certain restrictions apply, the currency must first be transferred from USD and will incur a small additional spread. Alternatively, trades can be settled in USD.
Additional Trading Fees
CommSec has a complex fee structure and clients should consult the website for full details of each asset:
- Australian shares, ETFs, warrants, and fixed income securities have a $10 fee for trades up to $1,000, decreasing as a percentage with the transaction value
- Trade using deceased estates at rates of $59.95 up to $10,000, with fixed percentage fees for larger transactions
- Options investing incurs a minimum of $34.95 up to $10,000 for internet trading, and this rate increases if executing over the phone
- Small fees of $0.05-$0.45 are also charged depending on the contract type
International trading fees vary by region, and additional taxes or market costs may apply – more information is available in CommSec’s FAQs.
Furthermore, custody fees are charged to accounts defined as inactive; that is, accounts holding a security position for a calendar year (1 January to 31 December) without generating a trade, or margin interest of USD $100 or more.
Systematic reinvestment activity in mutual funds and/or exchange activity in mutual funds will be considered as a trade. However, dividend reinvestment activity is not considered a trade.
The Commonwealth Direct Investment Account (CDIA) for CommSec does not incur a monthly account-keeping fee. Online transfers, direct debits, and withdrawals from Commonwealth Bank ATMs are also free.
Traders also need to ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
The broker does not appear to charge swap fees, or overnight fees.
CommSec is not a spread betting broker, so spread betting fees will not apply.
Pros and Cons
|✔️ PROS||❌ CONS|
|No deposit fees||Complex fee structure|
|No withdrawal fees|
|No maintenance fees|
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How many instruments can I trade with CommSec?
- Shares – Clients can perform Australian share trading directly with CommSec, for example on the ASX 50 or the ASX 200, also known as XJO.
- International Markets – Using a CommSec International Securities Trading Account, clients can also trade in 25 global markets, including US and Hong Kong shares as well as stocks on the NASDAQ.
- Options – Exchange-traded options, or simply options, are contracts that give clients the right to buy or sell a certain security for a specified price within a given timeframe, usually between investors
- ETFs – The brokerage offers all ETFs listed on the ASX, for example the Vanguard Australian Shares Index ETF which includes 300 of Australia’s foremost companies
- Warrants – CommSec also offers warrants to allow traders to benefit from market changes, with increased leverage compared to options.
- Fixed Income Securities – Sometimes known as interest rate securities, fixed income securities involve the investor loaning money to a party that will pay interest or dividends for the duration of the loan. For example, CommSec offers Australian government bonds.
Does CommSec offer leverage?
CommSec offers an award-winning Margin Loan, which traders can take advantage of to widen their portfolio with borrowed funds. The interest rate is a minimum of 5.63% p.a., and the broker provides a calculator on their website.
What spreads can I expect with CommSec?
CommSec charges a spread of 0.60% on the wholesale rate at the time the rates are locked.
Does CommSec charge commission?
No, the broker does not charge commissions.
Is CommSec regulated?
Yes, CommSec is regulated by ASIC.
Is CommSec a recommended forex trading broker for experts and beginners?
No. CommSec is better suited to more advanced and affluent traders.
What is the overall rating out of 10 for CommSec?