CMC Invest vs CommSec
The headline difference is brokerage structure. CMC Invest charges a flat $11 minimum on ASX trades, while CommSec's $5 minimum only applies if you link a Commonwealth Direct Investment Account and use CHESS sponsorship with them. Without that CDIA link, CommSec brokerage jumps to $29.95 on trades up to $9,999.99, which is a big swing for anyone not already banking with CBA.
- ›Want predictable flat ASX brokerage without needing a linked bank account
- ›Trade US shares and want zero brokerage and no USD conversion spread on those orders
- ›Want a desktop trading platform alongside the mobile app
- ›Want automated dollar-cost averaging and distribution component breakdowns for tax time
- ›Want a CGT calculator built in rather than exporting to a third-party tracker
- ›Already bank with CommBank and can link a CDIA to unlock the $5 ASX minimum
- ›Want to buy fractional US shares rather than whole shares only
- ›Want after-hours or overnight trading access
- ›Want to trade bonds as well as shares and ETFs
- ›Want same-day withdrawals and cash deposits at a CBA branch or ATM
Where they differ
| Fact | CMC Invest | CommSec |
|---|---|---|
| ASX brokerage minimum | $11 AUD | $5 AUD (requires linked CDIA and CommSec CHESS sponsorship; otherwise $29.95 up to $9,999.99) |
| ASX brokerage percentage | 0.001% of trade | 0.0012% of trade |
| US brokerage minimum | $0 USD | $5 USD |
| Fractional shares (US) | false | true |
| Auto-invest / DCA | true (single asset level) | false |
CMC Invest wins on flat, unconditional pricing and US trades; CommSec only makes sense if you're already a CommBank customer.
Common questions
How do CMC Invest and CommSec compare on asx brokerage minimum?
CMC Invest: $11 AUD. CommSec: $5 AUD (requires linked CDIA and CommSec CHESS sponsorship; otherwise $29.95 up to $9,999.99). CommSec's headline rate is conditional, so the real cost depends on your banking setup.
How do CMC Invest and CommSec compare on asx brokerage percentage?
CMC Invest: 0.001% of trade. CommSec: 0.0012% of trade. CMC is marginally cheaper on larger ASX trades above the threshold.
How do CMC Invest and CommSec compare on us brokerage minimum?
CMC Invest: $0 USD. CommSec: $5 USD. CMC is free on US trades; CommSec charges a minimum per US order.
When is CMC Invest the better choice over CommSec?
Pick CMC Invest if want predictable flat ASX brokerage without needing a linked bank account; trade US shares and want zero brokerage and no USD conversion spread on those orders; want a desktop trading platform alongside the mobile app; or want automated dollar-cost averaging and distribution component breakdowns for tax time.
When is CommSec the better choice over CMC Invest?
Pick CommSec if already bank with CommBank and can link a CDIA to unlock the $5 ASX minimum; want to buy fractional US shares rather than whole shares only; want after-hours or overnight trading access; or want to trade bonds as well as shares and ETFs.
CMC Invest or CommSec — what's the verdict?
CMC Invest wins on flat, unconditional pricing and US trades; CommSec only makes sense if you're already a CommBank customer.
Punch in your trade size and frequency. We'll do the full brokerage + FX + fees maths.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | CMC Invest | CommSec |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | Yes |
| US ETFs supported | Yes | Yes |
| Other markets supported | United Kingdom, Canada, Japan, Germany, France, Netherlands, Belgium, Spain, Switzerland, Sweden, Denmark, Norway, Singapore, Hong Kong, New Zealand | United States, Canada, United Kingdom, France, Germany, Italy, Netherlands, Hong Kong, Japan, Belgium, Norway, Spain, Sweden |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.55% |
| FX spread (other currencies) | 0.6% | 0.55% |
| Holds USD account | No | Yes |
| FX currency switch trick | — | No |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | $59.95 |
| Corporate action fees | — | Corporate actions (SPP, rights issue, takeovers, demergers, dividend payments) are not separately charged by CommSec. They are processed via the share registry/issuer. CommSec does not send trade confirmations for off-market events, so Sharesight/other tracker sync requires manual updates. Failed-settlement fees apply if payment is late ($10 minimum or 0.66% above $1,500). |
| costs visible | ||
| ASX brokerage minimum | $11 | $5 |
| ASX brokerage percentage | 0.1% | 0.12% |
| ASX brokerage threshold | $1,000 | $25,000 |
| ASX free trade conditions | $0 brokerage on first ASX buy order per security per day for trades up to $1,000 (excludes margin loan settled trades and sells) | Conditional: $5 minimum requires linked CDIA (Commonwealth Direct Investment Account) or CommSec Margin Loan as the settlement account AND CHESS sponsorship with CommSec. Without CDIA linkage, brokerage starts at $29.95 for trades up to $9,999.99 and 0.31% above. Promotional $0 brokerage offers occasionally run for new customers (e.g. 30 free trades up to $50,000 each, May–Nov 2026 offer for new sign-ups). |
| US brokerage minimum | US$0 | US$5 |
| US brokerage percentage | 0% | 0.12% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $15 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $55 | $54 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Commonwealth Securities Limited |
| AFSL number | 246,381 | 238,814 |
| Year founded | 1,989 | 1,995 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | Commonwealth Bank of Australia (ASX: CBA) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | BPAY, Direct debit, Bank transfer (CDIA), Cheque, Cash deposit (CBA branch/ATM) |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX) / T+1 (US) |
| Withdrawal time | 1-2 business days | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | No | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | SMS + authenticator |
| Customer support channels | phone, email, live chat | phone, email, live chat (in-app), secure mail (in-platform), social media (X, Instagram) |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Phone 8am-6pm Mon-Fri Sydney time (general & options); extended trading-hours support during ASX session. No 24/7 support. |
| Education content | structured courses | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | No |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | single asset | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | Yes |