Reviewer Photos & Videos
Now addressing previous oversight with excellent customer service.
I have been a customer of CommSec for many years. In 2021 CommSec suspended / restricted access to my pensions share trading accounts. Apparently they did this en masse to many of their customers in an effort to get up to date records. It consumed a lot of my time trying to contact the numbers they provided as part of this process.
Their suspension of my account left me very unimpressed. It also prevented my recent attempts to transfer my shares to another broker.
Whilst I found this very concerning behaviour I was very impressed when I cont...acted Commsec in May 2022 and asked them to remove the suspension. They did this with very little fuss albeit they were still keen to obtain up to date records from me that they did not have due to omissions when the account was set up. However this was treated as a matter separate from the account suspension which as I have mentioned they removed immediately. Whist the initial issue was concerning the recent efforts by Commsec to positively confront and address those issues has resulted in my having to acknowledge them. I recommend Commsec highly as a result and would have no hesitation in using them as my broker at an appropriate point in the future.
Dodgy app- ripper
I sold the share and instead it bought me share at my selling price which was higher than share actual price was. Prior to that , I was try to buy another share and the app stated - can’t buy share no funds for 15 k share as my account has 456 only. The app has glitch or it’s intentional ripper too. I had to pay the price which these commsec team doesn’t care. Very poor app and service. Wiping client money and saying sorry as explanation and blaming. They must be wiping client money like this.be aware and take photos. Should be legally sued for fraudulent act like this. It did the same to my friend too. She also didn’t had fund to buy and she wanted to sell the bought share to buy next share- instead bough her share.
I have been a loyal customer of ComSec/CBA for 33 years with multiple accounts investments etc and an unblemished financial record earning ComSec well over a $1 million in interest commissions etc. In November 2021 ComSec abruptly and without any notice severely restricted my access to our share trading accounts with “view only “ without any reasons and within 2 weeks sold all our shares arbitrarily and without our authorisation/knowledge timing the market deliberately maliciously and unlawfully in order to cause us substantial financial loss...es. AFCA who investigated this case was advised by ComSec “that due to the highly sensitive nature of this case, we cannot disclose any details of this case to anyone (including the client)” which AFCA accepted being their enabler and protector. Forewarned is forearmed so please be mindful as this could happen to any ComSec customers and they can lose all their hard earned money/life savings.
Rip off, bad customer service
Have been trading with Comnsec for many years paying way too much but not anymore. Customer service atrocious, prices are a rip off! Beware of this trading platform, you can do better elsewhere!
Slaves to the elite, no care for customers.
I have now transferred 5 times through them to a direct register. Every single time they have used some sort of stalling technique from saying someone called to confirm I would like to go ahead but I didnt answer to their favourite saying my ID and signature isnt on file even though its needed to register. Even using a very minor debt even though they can see a fund transfer has been started.
Avoid if you can.
Cannot retrieve my cash
On 17th February I transferred $10,000 from my Commonwealth Bank Savings account into my CommSec account. Tried navigating their bottomless confusing pit of a web site, decided it was too hard, and tried to retrieve the $10,000 back into my bank account, couldn't do it from their web site. I contacted CommSec "Help - Contact Us" to achieve this. They requested a screenshot of my Commonwealth Bank Savings account to show this transfer occurred, I provided this. No reply, they are ignoring me. I now am stuck with the reality that my $10,000 is gone forever. Do not go near these clowns. If anyone thinks I am a cynic, I have found dealing and trading with SelfWealth to be flawless.
Worst trading App ever
Worst app ever. It is constantly not working “system upgrades” “tech difficulties”. Incredibly frustrating to go to trade and App not working. This happens 8 out of 10 times I go to usd it. Time to change providers.
Avoid at all costs! - Update 02MAR22
Still awaiting that 72 hour callback queue from Commsec Manager.... How good is that? Good thing that my account not hacked, even though the issue is the fault of Commsec, and probably hence the silent treatment.
Couldn't be worse if they tried
Why was I paying $124 on a 1000 CBA trade when I now pay $9.50 with Selfwealth. I was with Commsec for 30 years, customer service is arrogant and useless. Commsec is holding 75k of my money said I need to visit a CBA branch to have some (unknown) things updated. Made no difference when I said I was in NZ for another 2 months.
Rubbish platform for trading
Worst trading platform ever.CommSec is everything that's wrong with big banks. Large, disconnected from other divisions and sadly represented by young, inexperienced and poorly trained people unable to deal with their dissatisfi...
These guys did , in less than 24 hours more than what link market services did in 5 weeks. Shares were located quickly, transferred to commsec and sold in less than a day Highly recommend their service
Probation from Commsec
I have been a customer for two years, leaning as I go,.
For the last six months I have been placed on probation,
No credit,. Must pay in advance, No buying shares from phone app.Only after depositing the full amount, I am, aloud to purchase by phone, ringing the broker, missing the trade , costing money. $$
Because I sold a shares and brought the same shares @ a higher price. The Penny Poice have placed me on probation.
May I add, I have always!! Paid for my trades on time.
Thank god, there's no Crypto Poice !!
That's my story.
Is this how you treat your customers?
Very unhappy, Very upsetting ...
Terrible, incompetent customer service
CommSec is everything that's wrong with big banks. Large, disconnected from other divisions and sadly represented by young, inexperienced and poorly trained people unable to deal with their dissatisfied customers
slow and delayed info. terrible
Commsec is so slow and delays info which has made me lose lots of money. Their notifications don't work and they charge a premium. Getting rid of it and moving to another platform
DO NOT USE COMMSEC THEY ARE CRIMINALS!!
been trying to get my inheritance now from 6 month and still making me jump hoops!! it bad enough dealing with the loss then to have deal with these CRIMINALS
Questions & Answers
Please help me to improve my review so that it meets your standards and gets posted. I am happy to comply with all your requirements
My last review was not published and no reason has been provided
Would appreciate your feedback as to where I failed to meet your standards on reviews as I was objective factual and to the point- nothing discrimination false or aggressive
Saddened by commsec.
Is there a better way?
ANZ in fact everyone is better than commsec
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.