??!
1 photo
CommSec

CommSec

1.8 from 135 reviews · View Statistics

Reviews

  • Transparency
    2.0 (37)
Previous
Next
stanjvincent

stanjvincentSydney, NSW

  • 2 reviews
  • Verified customer

Some good some bad

published
Transparency
Incentivised ReviewNo
Jackson99

Jackson99Sydney

  • 7 reviews
  • 1 like

Useless utterly useless Commsec

published

Their application process stalls at a screen ‘we need more information’ and a button ‘show me what’s wrong’.
However no amount of navigation gets me past this point. Tried on different machines, OS, browsers, always same error.
Multiple messages to Commsec to fix their problem results in no response, then a canned answer requiring the exact details I already provided them.
It’s clear this is a poorly designed and unreliable application. Under no circumstances can I risk doing business with these idiots.

Incentivised ReviewNo

Rubbish customer service

published

Had 2 orders that were executed under my accounts. I clearly remembered I didn’t make any order today but yet 2 orders were completed. Called the customer service which was then patched to the traders, not friendly at all. All I wanted to know was how the orders were completed when I am sure I didn’t placed any. More worry about account being hacked at this point. These so called expert in customer service just assume I did it and didn’t want to admit it. And the best scenario? Sell the stock and cope the loses and report to the police to open an investigation. Seriously.? Rubbish. You lots are useless bunch of robots in suits.

Transparency
Incentivised ReviewNo
Online Forex / Share Trading Services

Find out how CommSec compares to other Online Forex / Share Trading Services

Know better, choose better.

Compare all
steve

steve

  • 2 reviews

Extremely limited options for trading

published

Comsec has cost me around 35k in returns due to the limited access to international shares and its restrictions. I imagine there risk management strategy team came up with the idea "people are stupid, lets limit what they can access" But if your a seasoned investor who knows how to manage risk I cannot recommend this platform due to this.

Transparency
Incentivised ReviewNo
fair value

fair value

  • 38 reviews
  • 31 likes
  • Verified customer

They don't care and just take your money

published

Customer service is atrocious!

Either don't know or don't care.

Long wait times up to an hour regularly.

Emails are terse and unhelpful referrals to an unhelpful website.

Avoid.

Transparency
Incentivised ReviewNo
Jay

JayGreater Melbourne (Outer), VIC

  • 2 reviews
  • 2 likes

Customer service is what you expect from Commonwealth bank

published

Customer service is unhelpful. They couldn't care less about solving the problem. I asked to speak to a supervisor and they just kept me waiting on the phone. It's been half an hour so far and I'm still waiting .

Transparency
Incentivised ReviewNo
rs

rs

  • 2 reviews
  • 1 like
  • Verified customer

Lost the money because CommSec app doesn't have the option to edit or cancel conditional orders & can't set expiry date

published

Lost the money because CommSec app doesn't have the option to edit or cancel conditional orders & can't set your own expiry date

I have set up a conditional order from CommSec website, there is no option to select your own expiry date either you chose a day or 1 year, Can't chose your own expiry date.

And Can't edit or cancel the Conditional orders from CommSec app and that resulted in me losing the money.

It's too expensive to trade and they don't have basic access to edit the Conditional orders from the app, which is very bad and can lose money because of it.

Transparency
Incentivised ReviewNo
dean

deanPerth, WA

  • 2 reviews
  • 1 like

Expensive and not fit for purpose. Used to be better.

published

Expensive and poor functionality. This has the most expensive brokerage at $30 compared to $19 and $14 for westpac and nabtrade for purchases up to $10k. And even though it's linked to my bank it limits you to only one order at a time (it didn't used to do this) then you have to ring up and transfer deposit whick take 48hrs (by which time you've missed your desired trade) plus then your encouraged to use telephone brokerage which costs double the $30 to place your order. I've been with them for years but I'd advise people to avoid at all costs, I'm going to use Selfwealth now

Transparency
Incentivised ReviewNo

Avoid CommSec, so many better options.

published

Commsec, ASX $10 Brokerage fee to buy $19.50 to sell (Sells -2 days to clear)
CMC ASX $0.00 B.fee to buy $0.00 to sell (same for US/Canada/Lon) Sells clear to trading account instantly!
Commsec Canada fees $39!!!
Commsec International (other than US) you must phone in to trade (my Ave wait time was 17mins)
CMC US/Can/Lon etc - trade instantly via the app (no call and wait time or fees)
Commsec (and AU banks) are so far behind the competition do your research and you will avoid my mistake.

Incentivised ReviewNo
Online Forex / Share Trading Services

Find out how CommSec compares to other Online Forex / Share Trading Services

Know better, choose better.

Compare all

Go somewhere else. Used to be ok but crap now. Commsec sucks.

published

Got locked out for unknown reason. If day trader would've lost heaps. Not the answer phone people at fault here. It's management, or lack thereof. Still locked after all instructions followed but always something more. Now 5 days!!!!!! Useless prats. I'm leaving after 20 plus years. Much better trading platforms available now. Avoid Commsec at all costs. ps... don't blame the poor people on phone. they have little control over what's happening.. I always start with.. "this is not directed at you". must admit, phone support person extremely patient but couldn't help due to limited access to security. If I could put lower score I would.

Transparency
Incentivised ReviewNo
dorak

dorakPerth, WA

Gone to pot.

published

Was with Commsec for 20 years and, until recently, found them polite and helpfull , on their help line.
Now they are run by a bunch of no name,unsupervised angry misfits, who should not be staffing a client service line.Have gone to Nabtrade where they still know the value of having a clientel .

Transparency
Incentivised ReviewNo
Jane

JaneSouth East Queensland, QLD

I believe they manipulate the market with wrong valuations

published

Two screenshots from the CommSec app display the valuation for CBA, they're both dated 4th of September, but updated on different days and have different values. Also shows that CBA is undervalued. I got suspicious and went to check on simply wall st, and CBA is overvalued there by almost 35%.
I had a weird issue where I placed a market order to buy and the value I bought for was higher than the high share price for that day for that stock.

Transparency
Incentivised ReviewNo
tonywilsonpham

tonywilsonphamGreater Melbourne (Inner), VIC

Liquidity is hopeless

published

Been with Comsec for a long time, always been good but now have moved on to new broker. They have fixation about trade limit. I have money in trading account plus money sold from shares but cannot place trades because of reaching trade limit. Cannot do day trading with Comsec anymore even though you are a regular trader bringing in up to 20 transaction brokerage fees each day, oh well their loss, on to another platform now. Westpac fantastic. Trade as many times as you want as long as you have available funds. Good bye comsec.

Transparency
Incentivised ReviewNo
Madharry

MadharryCity

  • 8 reviews
  • 2 likes

NO HELP OR CONTACT

published

I've just opened an Account with Commsec and don't know why I bothered. I've called a couple of times to ask a question and they just hang up after waiting on. Maybe there's nobody working there ?

Incentivised ReviewNo
Ben

BenMurray Mallee, SA

  • 2 reviews
  • 3 likes

Highest fees, not user friendly, lacks transparency,poor liquidity on mid caps

published

Example. 6-10 shares of Afterpay will cost you $10+$10 +spread. 12 shares will cost $20+$20+spread. Plus500 will cost $0.21 per share. 1tesla share with CommSec will cost $29.95+$29.95+spread. Plus500 $0.95per share. You do the math. Don’t expect CommSec to execute your trade at your volume or price. Dozens of international competitors much better imo.

Transparency
Incentivised ReviewNo
Online Forex / Share Trading Services

Find out how CommSec compares to other Online Forex / Share Trading Services

Know better, choose better.

Compare all
rickho1954

rickho1954Metropolitan Adelaide, SA

  • 2 reviews
  • 3 likes

Unable to place multiple trades

published

Have just set up a new Commsec account and attempted to place 3 buy orders for seperate companies, but was prevented from doing so because of some silly Commsec rule that a second and subsequent trades require the first trade to settle before any further trades are allowed, despite my cash account having sufficient funds. Never had that issue with ANz or BT online trading.

Transparency
Incentivised ReviewNo
Joe

JoeMetropolitan Adelaide, SA

  • 2 reviews
  • 1 like

Avoid at all cost

published

They suspended my account for no reason. They just treat you as third class citizens. Dont want to help at all and wanted me to go to the bank with passport (which I dont have) to reactivete my account. Nabtrade is the best way to go.

Incentivised ReviewNo
Charlie B.

Charlie B.South East Queensland, QLD

  • 2 reviews
  • 1 like

Random fees

published

getting charged random fees out the back it's a joke for a company that made billions in profits do you really need my last $5. Its Despicable. I Pick another bank if I was you

Transparency
Incentivised ReviewNo
Shaiz

ShaizSydney, NSW

  • 26 reviews
  • 23 likes

Nightmare, pathetic and garbage, negative 5 star

published

Extremely unprofessional, the support team is arrogant and incapable.
There is no forum to report concerns or grievances. They just care about their fee and leaving their customers in deep crap

Transparency
Incentivised ReviewNo
Sandringham10

Sandringham10Melbourne

  • 89 reviews
  • 60 likes

NABTrade is a better platform for trading

published

CommSec's telephone call centre service is superior to NABTrade, as with Commsecone typically waits 15 minutes while at NABTrade the wait can be 30 - 45 minutes.

However I recently switched to NABTrade after years of being a COMMSec client, because NAB's site has more company information, is better organised and its costs for trading shares are cheaper.

One of the most annoying things about CommSec is the A$7500 limit on buy orders if from an external to CBA bank account.

CommSec gives me the impression that as market leader, it's become rather complacent. It needs to improve its site to be competitive with NABTrade.

Transparency
Incentivised ReviewNo
Page 1 of 7

Questions & Answers

Ellen M.

Ellen M.asked

I made 4 seperate buys of different amounts, 1 of those buys for $505.00 was returned to my account for insufficient funds (didn’t factor in the trade costs when depositing money into my cdia account).

So since making the buys I’d been busy and hadn’t kept up with my emails only noticing today (05/11) they’d sent me something stating 1 transaction failed and gave a due date for the funds to be available by 4/11 or further action blah blah.

Here’s my BIG issue
Only seeing this this morning (day after due date) at 11am I checked my cdia account straight away, there was no notification or anything so I went to move some money around when I seen a “Commsec Admin” withdrawal of $605.00 had been taken out of my Commonwealth netbank SAVINGS account. This account and the money in it is a separate savings account I use to the upcoming weeks wages in for my business as I invoice bi weekly but pay my staff weekly.

How is this legal? It mentions the selling of shares owned (I have upwards of $6000 worth with them) if I default but no mention of helping themselves to any bank account I hold whenever they please!

I have searched and searched but I can find ABSOLUTELY NOTHING written about “Commsec” being given free reign, especially without any form of notice, over my “Commbank” personal and business banking accounts!
CDIA is a trading account they offer for “cheaper trade costs” and it is linked to my Commbank NetBank app but outside of that account it would be my understanding that any money in ANY account, especially a savings account, should be off limits to anyone but me without my say so.

I am absolutely fuming and actually now in the process of finding/changing banks for all of my personal/business and investment banking needs.

No answers
Christine Prentice

Christine Prenticeasked

How do I join Commsec

1 answer
Sandringham10
Sandringham10

There is an online process but you need to mail a certified copy of your ID to it. See the website.

Have you considered NABTrade run by an associate of the National Australia Bank? I was a CommSec user but switched to NABTrade as the platform is better.

Pratik P.

Pratik P.asked

HI
I placed an order to sell my shares at the price of $0.055 and it sold my Share with the price of $0.029

Has anybody experienced this?

I also checked properly that if I am putting right trade or not which I did

Even the email says I sold it for $0.029?

2 answers
Sandringham10
Sandringham10

You probably instructed the broker to sell 'at market' rather than placing a 'limit' on the sale (i.e. an amount below which the trade would not go through).

In any case, I switched from CommSec to try NABTrade (part of NAB but not guaranteed by its parent) and find NABTrade better, yet it's mostly cheaper per trade.

Pratik P.
Pratik P.

Thanks for the answer but that’s not the case as I can see it’s not the case because I can check on the app and it says clearly at Limit 0.029. It’s very weird

Get an answer from our members

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.