CommSec at a glance
Australia's largest bank-backed retail stockbroking firm and wholly owned subsidiary of the Commonwealth Bank of Australia (CBA), offering CHESS-sponsored trading across Australian shares (ASX/Cboe), international equities, ETFs, fixed income, options, margin lending, and micro-investing via CommSec Pocket.
CommSec reports a founding year of 1995 and a head office in Sydney, Australia. It lists 1 regulator and 4 trading platforms.
BrokerBazaar verdict
Commonwealth Securities Limited (CommSec) is Australia's largest retail brokerage house, holding an Australian Financial Services Licence (AFSL 238814) under ASIC regulation. Backed by the balance sheet of the Commonwealth Bank of Australia and offering direct CHESS sponsorship (HIN), it provides top-tier institutional safety, transparent asset ownership, and reliable execution for long-term equity investors and SMSFs.
Legal entities, regulation and licences
CommSec operates through 1 legal entity, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by at least one strict-tier regulator.
Licence check: Not independently checked. This broker has submitted its details. BrokerBazaar has not yet independently checked them. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
CommSec states that it accepts clients from Australia (and Australian expatriates holding verified Australian tax residency/accounts). Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Known restrictions flagged in our review: Account onboarding is restricted primarily to Australian residents and domestic tax entities.
Trading products, platforms and account types
Instruments: Stocks, ETFs, Options, Funds, Warrants. Platforms: CommSec Mobile App, CommSec Web Platform, CommSec Pocket App, CommSec IRESS Trader. Account types: Individual Trading Account, Joint Trading Account, CommSec Pocket Account, Company/Corporate Account, Trust Account, Self-Managed Super Fund (SMSF) Account, Margin Lending Account.
Best-for tags assigned by our team: CHESS Sponsored, Bank-Backed Broker, CommBank Integration, ASX Shares, US Equities, Micro-Investing, SMSF Investing.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is No account minimum; A$500 minimum first ASX trade. Spreads start from 0.0 (Direct exchange centr… and commission is From A$5.00. Maximum leverage is Up to 1:4 (by entity), subject to the cap of the entity that holds your account.
Swap-free / Islamic account: not specified. Swap type: not specified. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: Direct Commonwealth Direct Investment Account (CDIA), Direct CommBank Transfer, Direct Debit, PayID, BPAY. Withdrawal methods: Direct Transfer to CDIA / Nominated Australian Bank Account.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Not specified. Scalping allowed: Not specified. Algorithmic trading allowed: Not specified. News trading allowed: Not specified. Hedging: not specified.
None of the recorded entities holds an active licence to keep client accounts, so no regulator's client-money rules can be assumed.
Not covered: Commonwealth Securities Limited (ABN 60 067 254 399) (ASIC). This licence covers a different activity (such as securities, wealth or payments), so its client-money rules do not apply to a forex or CFD account.
Complaints and dispute process
Formal complaints: commsecissuesscalations@cba.com.au. Phone: +61 13 15 19. Complaints must first be raised directly with the CommSec Customer Relations and Dispute Resolution team. If unresolved within 30 days, matters can be formally referred to the Australian Financial Complaints Authority (AFCA; CommSec Member No. 10609). All domestic Australian shares are fully CHESS-sponsored with an individual Holder Identification Number (HIN), ensuring the client is registered directly on the company share register rather than in a pooled omnibus custodian structure.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: Full CHESS sponsorship providing direct legal title and individual HIN on Australian shares
- Strength: Seamless settlement and cash management via linked Commonwealth Direct Investment Account (CDIA)
- Strength: Comprehensive platform suite including CommSec Pocket for accessible micro-investing from A$50
- Strength: Direct institutional backing and capitalisation of the Commonwealth Bank of Australia (CBA)
- Limitation: Standard online brokerage fees are higher than low-cost execution-only challenger brokers
- Limitation: Inactivity or subscription fees apply for accessing the professional CommSec IRESS Trader terminal
- Limitation: Currency conversion spreads apply to US and international market share transactions
- Limitation: Account onboarding is restricted primarily to Australian residents and domestic tax entities
Who this broker suits, and who it does not
CommSec is most relevant to traders looking for: CHESS Sponsored, Bank-Backed Broker, CommBank Integration, ASX Shares, US Equities, Micro-Investing, SMSF Investing.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence but would be onboarded by an offshore entity, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
CommSec change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for CommSec yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about CommSec
Data sources. Broker submission, the regulator registers linked above, CommSec important information page; CommBank history page, web-archive and domain records, and third-party traffic data. Last register check 2026-09-28. External ratings: Apple App Store (CommSec) 4.6/5; Google Play Store (CommSec) 4.5/5; Trustpilot N/A/5; WikiFX 7.49/10; Google Play Store 3.4/5; Apple App Store (Australia) 4.2/5.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We may receive a referral fee if you open an account with CommSec through our links; this never affects scores or verification. How we make money. Trading leveraged products carries a high risk of loss.