CommSec
CommSec is Australia's largest online retail brokerage and a wholly owned subsidiary of Commonwealth Bank of Australia, serving individual investors via web and mobile platforms with access to 2,000+ ASX companies and 13+ international markets. Revenue is generated through transaction-based brokerage, margin lending interest, and cash-account spread on the CDIA.
- Company typePrivate
- Founded1995
- HeadquartersSydney, Australia
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
What CommSec does
CommSec (legal name Commonwealth Securities Limited) is Australia's leading online retail brokerage, established in 1995 and operating as a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia (ASX: CBA). Headquartered in Sydney with 501–1,000 employees, the firm serves individual investors seeking access to Australian and international share markets through web and mobile platforms (iOS/Android). Its core platform provides trading in 2,000+ ASX-listed companies and 13+ international markets (U.S., UK, Canada, Japan, Hong Kong, Singapore, and several European markets), with complementary products spanning ETFs, Exchange Traded Options (ETOs), margin lending, the Commonwealth Direct Investment Account (CDIA), CommSec Notice Investor, minor trust accounts, and the CommSec Pocket micro-investing sub-brand. Technology is delivered through a web-based trading platform and mobile applications featuring customisable dashboards, watchlist widgets, biometric authentication, push notifications, fractional shares, recurring investments, and overnight trading for U.S. securities. Morningstar research and S&P Market Intelligence market data are integrated as third-party content layers.
The business model is predominantly transaction-fee-based with ancillary interest income. Revenue streams include tiered brokerage on Australian shares (as low as $5 when settled via CDIA or Margin Loan, up to $29.95 otherwise), international share commissions by market, ETO contract fees, a 0.55% foreign exchange conversion fee, and lower-cost Pocket trades. Subscription-style revenue is generated through margin lending interest (9.65% p.a. variable / 9.15–9.20% fixed) and CDIA interest spread on customer cash balances. Distribution is fully digital self-serve (PLG) with phone-assisted support for complex products like options and margin lending. Customer acquisition relies on the CBA parent ecosystem, educational content via The Academy, social media, SEO, and promotional pricing — including a 2026 zero-brokerage offer for new customers. As an ASX and Cboe Australia Market Participant bound by ASIC Market Integrity Rules, CommSec operates within a regulated framework that has, in 2026, included temporary sell-only restrictions on certain crypto ETFs.
CommSec firmographics
Firmographics- Name
- CommSec
- Legal name
- Commonwealth Securities Limited
- Website
- https://commsec.com.au
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- CommSec is Australia's largest online retail brokerage and a wholly owned subsidiary of Commonwealth Bank of Australia, serving individual investors via web and mobile platforms with access to 2,000+ ASX companies and 13+ international markets. Revenue is generated through transaction-based brokerage, margin lending interest, and cash-account spread on the CDIA.
- Ownership category
- akta.pro rank
CommSec industry classification
Industry- Product category
- Retail Brokerage
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Retail Multi-Asset Exchanges (FSAFAEAA)
Keywords
Where CommSec is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
CommSec business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Brokerage Fees - Australian Shares: Transaction-based fees charged per trade on Australian share transactions. Rates are tiered based on transaction value, with discounted rates available for trades settled through CDIA or Margin Loan accounts.
- Brokerage Fees - International Shares: Transaction fees on international trades across 13+ global markets including U.S., UK, Europe, Canada, Japan, Hong Kong, Singapore. Fees vary by market and account type (Standard vs Plus).
- Margin Lending Interest: Interest charged on borrowed funds for margin trading. Variable rate of 9.65% p.a. (paid monthly) or fixed rate options. Revenue generated from interest spread on borrowed amounts.
- Exchange Traded Options Fees: Brokerage fees plus contract fees for equity and index options traded on ASX. Contract fees are tiered by ASX fee categories.
- Foreign Exchange Fees: 0.55% fee charged per currency conversion for international trades. Currency conversions automatically performed unless foreign currency wallet feature is activated.
- CDIA Interest Spread: Commonwealth Direct Investment Account generates interest revenue on cash balances held. Interest rates paid to customers vary by balance tier (e.g., 0.65% p.a. for balances under $50,000) while CommSec earns spread.
- CommSec Pocket: Micro-investing app with lower brokerage rates ($2.00 up to $1,000, 0.20% thereafter) for fractional share investing in themed portfolios.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Australian Shares - Online with CDIA/Margin Loan |
| Transaction based/ take rate | Pay-as-you-go | Australian Shares - Online with bank account settlement |
| Transaction based/ take rate | Pay-as-you-go | CommSec Pocket - Mobile App |
| Transaction based/ take rate | Pay-as-you-go | International Shares - Standard Account |
| Transaction based/ take rate | Pay-as-you-go | International Shares - Plus Account |
| Transaction based/ take rate | Pay-as-you-go | Foreign Exchange Fee |
| Subscription | Monthly | Margin Lending - Variable Rate |
| Subscription | Multi-year contract | Margin Lending - 1 Year Fixed Rate |
| Transaction based/ take rate | Pay-as-you-go | Exchange Traded Options - Online |
| Freemium | Pay-as-you-go | New Customer Offer - Zero Brokerage |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
CommSec product offering
Product offeringCore offering
CommSec operates an online brokerage platform enabling Australian retail investors to trade over 2,000 ASX-listed Australian companies and access 13+ international markets including the U.S., UK, Europe, Canada, Japan, Hong Kong, and Singapore. The platform supports trading in shares, ETFs, exchange traded options, margin lending, and cash management via the CDIA, delivered through web and mobile applications with integrated Morningstar research and real-time market data.
Product overview
CommSec operates as a multi-product online brokerage platform under Commonwealth Bank of Australia, offering a unified trading platform with integrated modules for Australian shares, international shares, ETFs, options, and managed funds. The core platform is complemented by specialized products including CommSec Pocket (micro-investing), CommSec Margin Lending (leveraged investing), CDIA (cash management), CommSec Notice Investor (term deposits), and Minor Trust Accounts (custodial investing). Additional features encompass fractional shares, recurring investments, overnight trading, and educational resources through The Academy. The platform is accessible via web and mobile applications, with the CommSec app providing on-the-go access to the full trading ecosystem.
Differentiator
Problem solved
Functional benefit
Brands
- CommSec Pocket: A micro-investing platform offering fractional share trading with lower brokerage fees ($2.00 up to $1,000, then 0.20%)
- The Academy
- CommSec Market Update Podcast
Products and services
- Australian Shares Trading Trading service providing access to over 2,000 Australian companies listed on the ASX through the CommSec online platform and mobile app, with tiered brokerage fees.
- International Shares Trading
Quantifiable outcome
- Access to 2000+ Australian companies listed on ASX
- +2 more outcomes
Companies that use CommSec
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles4 records
CommSec technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
CommSec partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- MonochromeminorMonochrome is a crypto ETF issuer whose IBTC and IETH products were subject to sell-only restrictions on CommSec platform. Monochrome CEO Jeff Yew stated they are in communication with CommSec regarding operational frameworks and investor protection mechanisms for their physically redeemable crypto ETFs.
- MorningstarcoreMorningstar provides research content, analyst recommendations, and market insights integrated into the CommSec platform. CommSec publishes Morningstar research reports and recommendations to help investors make informed decisions. Any general advice has been prepared by Morningstar Australasia Pty Ltd without reference to individual objectives.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
CommSec competitors and assessment
Company assessmentDirect peers
- Selfwealth: Australian self-directed online broker offering ASX and US share trading at flat-fee pricing. Directly competes with CommSec for Australian retail investors, particularly on price-sensitive customers priced out of CommSec's non-CDIA tier.
- Bell Direct: Australian online broker offering ASX and international share trading with research and active trader tools. Direct peer for Australian retail investors, particularly those seeking an active-trader feature set.
- Interactive Brokers: Global low-cost retail and professional broker with Australian operations. Competes for experienced, price-sensitive Australian retail investors seeking broad international market access with lower per-trade pricing.
- IG Markets: Global multi-asset broker with Australian operations offering share trading, CFDs, and forex. Comparable to CommSec as a multi-product retail trading platform targeting Australian retail investors across asset classes.
- eToro: Global multi-asset social trading platform with Australian operations offering shares, ETFs, and crypto. Comparable as a retail multi-asset platform, particularly for younger investors attracted to crypto and social/copy trading features CommSec lacks.
- ANZ Share Investing: ANZ's retail trading platform for Australian and international shares. Closely analogous peer as another Big-4 Australian bank's integrated brokerage offering competing directly with CommSec's bank-bundled model.
- Stake: Australian mobile-first broker offering US share trading and increasingly Australian and international markets. Competes directly with CommSec for younger, mobile-native retail investors with a simpler pricing model and no CDIA dependency.
- Westpac Online Investing: Westpac's retail brokerage arm offering Australian and international share trading. Direct peer given the parallel structure of a major Australian bank owning a retail trading platform integrated with its deposit accounts.
- nabtrade: NAB's online trading platform offering ASX and international share trading to retail investors. Closely comparable to CommSec as another Big-4-bank-owned Australian retail broker with bundled banking relationships.
- CMC Markets: Global multi-asset retail broker with strong Australian presence offering share CFDs, forex, and direct share trading. Comparable as a multi-asset retail broker serving Australian retail investors across both domestic and international markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
CommSec social profiles
Digital presenceCommSec financial estimates
Financial estimateRevenue estimate
Valuation estimate
CommSec leadership team
Management profileNumber of profiles
Profiles1 record
CommSec funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CommSec M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CommSec
What does CommSec do?
CommSec operates an online brokerage platform enabling Australian retail investors to trade over 2,000 ASX-listed Australian companies and access 13+ international markets including the U.S., UK, Europe, Canada, Japan, Hong Kong, and Singapore. The platform supports trading in shares, ETFs, exchange traded options, margin lending, and cash management via the CDIA, delivered through web and mobile applications with integrated Morningstar research and real-time market data.
Is CommSec a public or private company?
CommSec is a private company. It is classified as corporate owned and is currently operating.
When was CommSec founded?
CommSec was founded in 1995. It employs 501 to 1,000 people.
Where is CommSec based?
CommSec is headquartered in Sydney, Australia, in the Oceania region.
How does CommSec make money?
Seven revenue lines are on record. Brokerage Fees - Australian Shares are the primary driver. The others are brokerage Fees - International Shares, margin Lending Interest, exchange Traded Options Fees, foreign Exchange Fees, CDIA Interest Spread and commSec Pocket.
Who are CommSec's main competitors?
Direct peers on record are Selfwealth, Bell Direct, Interactive Brokers, IG Markets, eToro, ANZ Share Investing, Stake, Westpac Online Investing, nabtrade and CMC Markets.
Does CommSec have an API?
No public API is recorded for CommSec.
What industry is CommSec in?
CommSec's product category is Retail Brokerage. Its primary akta.pro industry code is FSAFAEAA, Retail Multi-Asset Exchanges. Its NAICS code is 5231 and its SIC code is 6200.