CommSec is a very unique broker. Unlike most other brokers available on Australian market, they don’t offer a bunch of trading accounts, but are focused on different types of trading. Every trading type is a special and unique trading account. For example, there is a special account for option trading and a special account for share trading.
CommSec Share Trading
This account type is meant for buying and selling Australian shares. The special feature offeed with this account is the mere fact that you don’t have to make a deposit. You can trade as the opportunity comes buy (but you have to be registered trader). If you want to trade shares, you can either use the cash account or access brokerage rates with Commonwealth Direct Investment Account2. As you can probably notice, the account structure is quite complex with CommSec. Share trading account is convenient, flexible and offers:
- Real time quotes
- Live announcements
- Live charting
- No conditions
- Live charting
The minimum amount of shares you can buy is $500.
CommSec Margin Lending
Margin lending was established by CommSec almost 20 years ago, in 1999, and it allows you to trade and invest funds starting with $10. Margin loans allow you to trade anytime and anyplace, as well as to increase your profits. Bear in mind that margin loans come with certain terms and conditions, depending on the type of trading you prefer. CommSec margin loans are available for trading Australian shares, managed funds, exchange-traded options…
CommSec Options Trading
This account type can be combined with other features and account types offered. You can also link your options account to shares trading account. There are several options trading levels available, based on your previous trading experience. In order to reach a higher level, you will have to fill out a special request form. The levels are unlocked not based on the trading volume or profit you made, but based on your knowledge, experience and risk you are willing to take.
CommSecCFDs account opens the door of trading 7,000 different CFDs. This number is rather impressive and it includes:
- Australian and international shares,
- global indices,
- commodities and
- foreign exchange
There is also guaranteed stop Loss feature you can use and it starts from just 0.3%. Also, there are two types of this account:
- Limited risk account – all positions have guaranteed stop loss
- Trader account – you can choose whether or not to use guaranteed stop loss
There are certain conditions you have to fulfill in order to apply for these trading accounts, but these conditions are the basic ones:
- Be Australian resident
- Have an account in Commonwealth bank
- Have trading experience
CommSec International Securities Trading Account
This account type is meant for US Exchange Traded Options and US Exchange Traded Funds (ETFs) and the trades are executed with Pershing LLC, a subsidiary of the Bank of New York Mellon.