CommSec Review 2026 — Australia's Largest Share Broker

By Peakifi Editorial Team · Updated May 2026

This article provides general information only and does not constitute financial advice. For advice tailored to your situation, consult a licensed financial adviser. Learn more.

Contents

CommSec (Commonwealth Securities) is the brokerage arm of CommBank and the largest retail share broker in Australia by number of accounts. With deep integration into the CommBank ecosystem, CHESS-sponsored holdings, and access to ASX shares, ETFs, and international markets, CommSec remains Australia’s most widely used investing platform — though its fee structure is higher than newer flat-fee alternatives.

CommSec at a Glance

Feature	Detail
Brokerage (ASX, ≤$1,000)	$10.00
Brokerage (ASX, $1,001–$10,000)	$19.95
Brokerage (ASX, $10,001–$25,000)	$29.95
Brokerage (ASX, >$25,000)	0.12%
International shares	US: $19.95–$29.95 per trade
Minimum investment	$500 (ASX)
CHESS sponsored	Yes
Margin lending	Yes (CommSec Margin Loan)
Options trading	Yes
Mobile app	Yes (iOS and Android)
Linked bank account	CommBank (required or optional depending on account type)

Brokerage Fees Explained

CommSec’s standard ASX brokerage schedule is tiered by trade size:

≤$1,000: $10.00 flat
$1,001–$10,000: $19.95 flat
$10,001–$25,000: $29.95 flat
>$25,000: 0.12% of trade value

For investors making larger trades (say, $2,000–$5,000 per trade), the $19.95 fee is a meaningful drag compared to SelfWealth ($9.50) or Superhero ($2 flat for ETFs, $5 for shares).

CommSec does not currently offer $0 or commission-free trading for standard ASX shares.

CHESS Sponsorship

CommSec is fully CHESS sponsored — one of the key reasons many established Australian investors continue using it. Under CHESS, shares are registered directly in the investor’s name with a unique HIN (Holder Identification Number). This means your shares belong to you, not CommSec, and remain accessible even if CommSec ceased to operate. See CHESS vs Custodian.

CommSec Features

Research and data: One of the most comprehensive research offerings for retail investors — full ASX company data, analyst reports, charting tools, and news integration
Portfolio tracking: Clear dashboard showing holdings, performance, dividends received
International shares: US, UK, Canada, Germany, Hong Kong, Japan, and more (via CommSec International)
IPO access: CommSec frequently offers access to IPOs and corporate actions
Margin lending: CommSec Margin Loan for borrowing to invest (high risk — see Margin Lending Australia)
Options: ASX options trading available for eligible accounts
CommSec Pocket: Separate beginner ETF-focused product (see CommSec Pocket Review)

CommSec for ETF Investors

CommSec is suitable for ETF investing, though the $19.95 brokerage for trades over $1,000 makes it costlier than alternatives. At $19.95 per buy, an investor buying $2,000 of VAS quarterly pays ~1% in brokerage alone — higher than a flat-fee platform charging $2–$9.50.

For investors already committed to the CommBank ecosystem who want simplicity and CHESS sponsorship, CommSec’s fees may be acceptable. For cost-conscious ETF investors making regular purchases, Pearler or SelfWealth may reduce brokerage drag.

CommSec Pros and Cons

Pros

CHESS sponsored — shares held in your name
Australia’s most established and trusted retail broker
Comprehensive research and data tools
Access to international markets, options, IPOs
Deep CommBank integration (linked accounts, CDIA)

Cons

Higher brokerage than flat-fee alternatives
$500 minimum trade for standard ASX account
No automatic investment / auto-DCA feature
International brokerage fees are expensive
No fractional shares

Who Is CommSec Best For?

CommSec suits:

Investors who value the CommBank/CommSec brand and integration
Active traders who want full research tools and data
Investors wanting CHESS sponsorship with a major bank-backed broker
Investors accessing IPOs, options, or margin lending

Flat-fee brokers like SelfWealth or Superhero may suit cost-conscious buy-and-hold investors better.

Frequently Asked Questions

Is CommSec safe? CommSec is owned by CommBank (CBA), Australia’s largest bank, and operates under an Australian Financial Services Licence (AFSL). Client shares are held via CHESS in the investor’s own name, not as CommSec’s asset. This is a robust investor protection structure.

Does CommSec have a monthly fee? CommSec does not charge a monthly account fee for the standard brokerage account. Fees are charged per trade.

Can I use CommSec without a CommBank account? Yes. CommSec offers a Cash Management Account (CMA) option not requiring CommBank. However, linking a CommBank account simplifies settlement.

This article provides general financial information only. CommSec and its fee structure are described for educational purposes as of the date of publication and may have changed. For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.