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CommSec

CommSec

2.0 from 84 reviews

Pulls you in then tricks you

Pulls you in then try's to charge you $50 USD so you dont have to a maths equation that is a simple maths algorithm to calculate current positions.

Con artists in suites

Transparency

Why have CommSec changed their Quotes page

Ha ha ha.....What a joke their depth of field is in the wrong place. Well done Commsec.
I guess you are having to save money by using this cheaper software.
I missed two small trades this morning thanks to your NEW software. AGH & ZIP.
I am so annoyed to see Commsec have changed their Quotes/Depth page.
Commsec are so wrong to change a great format.
Why would Commsec SWAP something that was so concise and easy to read, for a new format now that looks like a dog's breakfast with small print.
When I phoned them they were not the slightest bit interested in my concern.
CommSec should hang their head in shame.
Time to find another broker.
CommSec are way to big, condescending and arrogant.
Would I advise anyone to use Commsec ....No way!!!!!

Atrocious Help Desk Service and Website Support Feature never works

I had to call Commsec to try to transfer issuer sponsored shares on behalf of my husband and I am listed on the account-because the website support feature never works-after an eternity on hold they come back on and they lock down his account!! If this is how they treat a Priority One customer I hate to think how they would treat everyone else. Dealing with them is ALL TOO HARD-don't bother phoning them unless you have a few hours to spare fixing the mess they create.


COMMSEC Sharepack Investment

Great difficulty encountered selling remaining asx listed shares in commsec sharepack purchased almost 13 years ago through commsec in my name as a long term investment for my two grandchildren.
CommSec originally registered SHAREPACK holdings in 2006 as:
my full Name <First Name + Surname uf Granddaughter & First Name + Surname of Grandson AC>, with registered address as our P.O. Box! However on requesting CommSec to sell these shares they requested I must change the 3 holdings' registered address to our residential address, which I subsequently arranged. Then CommSec requested that I change the registered name of each shareholding from that in which they had originally registered the shares(from above designation) to an abbreviated form (with 26 letter limit) that now suited CommSecs' current lodgement requirements. I refused to rectify another (2nd) mistake that CommSec had made on lodgement of shareholdings & have cancelled the order to SELL these shares.; hopefully this will be acted upon!
It is difficult to believe that CommSec still readily promotes the sale of their SHAREPACK investment product, yet has NO procedures in place redeem such investment, if/when required!

Trades take 2 days to settle, why?

It takes 2 days to settle trades in commsec, recommend going with someone else if you're an active trader

They also have a confusing rule about how much you can trade but if you call them they won't tell you how much it actually is. This rule can also prevent you from selling a holding.

The most expensive online broker

It has a really good Android widget


Ancient and Confusing Interface

The interface is the worst brokers by far (I use CMC and SelfWealth) which makes even looking to buy/sell impossible. The ability to put money in after the trade and before a settlement is fantastic, but only needed for opportunistic buyers/sellers.


commsec takeover

the RC nneeds to be extended to include the sharebroking arm of the banks in particular commsec /cba who took over my broker (avcol) in jan 2008 and stopped me exiting the market during that dramatic fall of the GFC for 20 days.I lost $200000 and my brothers estate $180000 as a direct result.


Surprised at the bad reviews long time user

I have been with Commsec over 10 years and have never had a problem trading or getting my trades settled. I recently reactivated my account after a few years break and had no issues doing that either with a really pleasant phone operator helping me out. Easy to navigate and $10 trade brokerage seems like a good deal to me.

Poor product information

Commsec are happy to open accounts but when it comes to giving you information about them they leave
you in the dark.


Terrible service and treat customers with distain, especially when the problem was their fault

I endured a similar issue as Justice Oct 19, 2018. I am disabled but they insisted that I attend a CBA branch, despite my protests about the difficulties with this. Well, it turns out that Commsec themselves were the problem. They were holding both my current and my old address despite my having advised them in writing of the move. All the trades I made over the past 3 years had the correct new address in the Contract Notes, so I had no idea that they had failed to delete my old address. In fact they have no explanation as to why this could have happened. Nonetheless, I had to suffer the inconvenience and cost of a special taxi to get to the CBA branch.
I definitely advise against Commsec

Deceased Estate handling- Commsec no direct number or phone prompt for deceased estate and too busy

I wish my parents had never dealt with Commsec. There is no face to face contact. They do not have a direct phone number or even a phone prompt that will get you through to the deceased estate team.
Even when I get onto Commsec and ask to be put through to the deceased estate team, the operator checks and says they are too busy. they will call back in the next 24 to 48 hours. I am not keen on call backs because I don't know who is at the other end of the line. Even if they call and leave a mobile for me to call back on , I don't know whom I am ringing.
My previous experience with Commsec .Commsec's only face to face contact is a CBA branch person. I have had this experience before, I got a young girl who checked my ID, she was clueless about Commsec. A simple address change was what I required (as a POA), as Commsec mail cannot be redirected.by Australia Post (It has a "This mail cannot be redirected" message on the envelope) This took many phone calls and a lot of effort on my part, The bank staff are clueless about Commsec, they admit to being clueless about Commsec , they just ring up Commsec on our behalf.

Now I have to deal with their deceased estates team, who cannot be contacted .I was told that they are too busy, they will call back.in the next 24 to 48 hours. Generally, we want to be in a private space when discussing share portfolios and account numbers. Most of us will be at work surrounded by colleagues when Commsec calls.
.


A GREAT SERVICE

I have been with Commsec since 1997 and they have never let me down. Although I don't use iress, I do around 80 trades a year and trades are executed promptly and settlement of sales is in my account at the correct time.
I like the fact that I can place a buy order with insufficient funds in my CDIA account, and topping up within the required 2 days. I have had over the years a dabble with Macquarie and Etrade sharebroking, but I still prefer the efficiency and page layout of Commsec.


A law unto themselves

Commsec requested my wife ring them, which she did, She didn't know the account number so she asked me for it.
She was then told to report to a CBA branch, I asked what all this is about, why did they want her to ring them. my request was ignored.
I emailed Commsec with the details of what occurred. I said my wife will not be going to any bank until they can tell us why my wife had to contact them.
Their reply; YOU ACCOUNT HAS BEEN SUSPENDED.


Over priced Swindle

Over priced and the charting features are crap, they could learn a lot from the free online charting Trading view. Also There live data feed resets at the end of each month at $82.50 rather than the calendar day you start. For example if you decide to sign up for their comsec Iress on July 31 you are charged 82.50 for one day and 82.50 the following month in August. Nice swindle Comsuck.

Waiting on proceeds from sale of shares

My wife had shares in her name. We decided to sell. We had no explanation on line as to why the money did not come through after 4 days. Non compliant to ComSec procedures.


CommSec International platform is a JOKE

Platform is absolutely rubbish in itself.

I placed an order that was executed (I saw it with my own eyes). After the stock was up over 8% I check the platform to find my money was back now as USD? I phoned and spoke to [name removed] who laughed at me and told me it was impossible.

Customer service

Hi, just sorted out my profile and listings thanks to a lovely lady at CommSec. Her name is Anna. Spoke with her for some time and she was so helpful and most of all patient with my lack of computer skills. Wish Anna was working in my work place. Thanks again Anna.


Commsec's fantastic stock monitoring and record keeping service

I have a stock trading account with Commsec which I use for my Self Managed super fund. I recently was advised by my accountant of an audit of my account and was required to provide evidence of stock holdings and dividends as at 30 June 2017. I logged into my Commsec account and found a fantastic service that enables me to obtain a summary of all dividends and stock transactions and holding for the FY17 year. This service saved me untold hours of locating the required information. I would like to thank Commsec for the initiative and thought in providing this information. It is an excellent summary that exceeded my expectations.


Settlement dates are bulldust

When you sell shares - even with a CBA CDIA account money doesn't arrive on settlement date until after banking hours CBA or Commsec getting their extra day bank bill rate on customer monies!

Contract note states settlement date 3rd day payment method direct to nominated settlement account on settlement day. Not even when you have a cdia is this happening.
The definition of settlement day is that settlement is made on that day. If I buy shares
I have to have money present and in my account but if one sells shares the bank chooses
To manipulate dates to suit themselves.
After phoning commsec I was advised I should have told them I needed settlement on the 3rd day! Just another longtime cba customer and shareholder offside and looking to leave after 40 years.


Terrible Service

After signing paperwork to update my details and an earlier phone call this week to clarify same details, commsec rang again, i missed that call but returned it only to be put on hold while they located my file and then asked me a several security ID questions to which i answered along with a sms code sent to my mobile phone. Partners email different but they wanted same email address on both comm account and commsec account. At the end of the call no further advancement and i was asked to go to a branch to ID myself. Time to find another broker platform. Rubbish service from COMMSEC 4 security id questions should be enough to verify who i am.


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Questions & Answers

I am trying to find a link to see comesec trading platform, I currently trade the forex market, does comsec for shares allow you to put stochatics/ indicators onto the platform? thank you in advanced
1 answer
Sorry - I don't know. Please consult CommSec.

What's the definition of one transaction? Does it include selling and buying at the same time?
1 answer
I think it is buy order or a sell order. If you buy and sell at the same time Commsec charge you a fee on each (2 transactions). You might check with them.