Share Trading comparison
CommSec vs moomoo
CommSec and moomoo both offer CHESS-sponsored ASX trading, but they cater to very different investors. CommSec is Australia's incumbent broker, backed by Commonwealth Bank, with rock-bottom brokerage of $5 on ASX trades under $25,000 — but only if you use a CDIA settlement account. moomoo is the newer challenger, charging just $3 on ASX trades under $10,000 and offering a far more modern trading platform with desktop software and demo accounts.
Choose
CommSec
if…
- ›You want the safety and convenience of a big-four bank broker with full CDIA integration and instant same-day withdrawals
- ›You need access to a wide range of asset types — managed funds, bonds, and international markets across 13 countries
- ›You're opening a joint account, a kids/minor account, or want phone trading (even at $59.95)
- ›You want IPO access and prefer a broker that's been operating since 1995 with deep ASX infrastructure
Choose
moomoo
if…
- ›You want the lowest US brokerage in Australia — $0.99 USD per trade with 0% commission — and a tight FX spread of 0.003%
- ›You want a desktop trading platform with advanced charting, a demo account to practice, and auto-invest/DCA features
- ›You're a US-stock focused trader who values 24/5 support and after-hours US trading
- ›You want a built-in CGT calculator and prefer modern deposit methods like PayID/OSKO over BPAY
Where they differ
| Fact | CommSec | moomoo |
|---|---|---|
| ASX brokerage minimum | $5 (with CDIA) | $3 |
| US brokerage minimum | $5 USD | $0.99 USD |
| FX spread (AUD/USD) | 0.0055% | 0.003% |
| Desktop platform | No | Yes |
| Auto-invest / DCA | Not available | Yes (multiple levels) |
Verdict
Choose CommSec for bank-backed simplicity and broad asset access; choose moomoo for cheaper US trading and a modern platform.
Cost calculator
What would CommSec vs moomoo actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | CommSec | moomoo |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | 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 States, Canada, United Kingdom, France, Germany, Italy, Netherlands, Hong Kong, Japan, Belgium, Norway, Spain, Sweden | Hong Kong |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.55% | 0.3% |
| FX spread (other currencies) | 0.55% | 0.3% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | No |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $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 | $5 | $3 |
| ASX brokerage percentage | 0.12% | 0.03% |
| ASX brokerage threshold | $25,000 | $10,000 |
| ASX free trade conditions | 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). | No standard free trade conditions on ASX. Promotional sign-up rewards have offered free brokerage for limited periods to new clients. |
| US brokerage minimum | US$5 | US$0.99 |
| US brokerage percentage | 0.12% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $54 | $55 |
| identity and trust | ||
| Legal entity name | Commonwealth Securities Limited | Futu Securities (Australia) Ltd |
| AFSL number | 238,814 | 224,663 |
| Year founded | 1,995 | 2,022 |
| Parent / ownership | Commonwealth Bank of Australia (ASX: CBA) | Futu Holdings Ltd (NASDAQ: FUTU) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | BPAY, Direct debit, Bank transfer (CDIA), Cheque, Cash deposit (CBA branch/ATM) | PayID, Bank transfer (OSKO/NPP) |
| Settlement period | T+2 (ASX) / T+1 (US) | T+2 ASX; T+1 US |
| Withdrawal time | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) | 1-3 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS + authenticator | sms |
| Customer support channels | phone, email, live chat (in-app), secure mail (in-platform), social media (X, Instagram) | Phone, Live chat, Email, In-app |
| Support hours (AU time) | Phone 8am-6pm Mon-Fri Sydney time (general & options); extended trading-hours support during ASX session. No 24/7 support. | 24/5 during US trading days; 9:30am-9:30pm AET weekends and holidays |
| Education content | structured courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | No | — |
| CGT calculator / report | No | Yes |
| 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 | No | Yes |
| Auto-invest sophistication | none | multiple |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | Yes | Yes |