CommSec vs tastytrade
CommSec and tastytrade are built for completely different investors. CommSec is Australia's dominant broker — CHESS-sponsored, full ASX access, and tightly integrated with CBA banking. tastytrade is a US-based options specialist with zero-commission US trades but zero ASX support. The biggest practical difference: CommSec lets you buy BHP and CBA on the ASX under your own HIN; tastytrade doesn't offer Australian shares at all.
- ›You want to trade ASX-listed shares and ETFs under your own HIN with CHESS sponsorship
- ›You need a full suite of Australian account types — SMSF, trust, company, joint, and kids accounts
- ›You want seamless integration with CBA banking, including instant transfers via CDIA
- ›You need Australian tax statements, DRP, and IPO access on local stocks
- ›You want phone support during Australian business hours and a local AFSL-regulated broker
- ›You trade US options actively and want zero commission on US stocks and options
- ›You want a dedicated desktop trading platform alongside mobile apps
- ›You prefer to start trading with no minimum deposit and no brokerage fees on US trades
- ›You need a demo account to practise US options strategies before going live
- ›You're comfortable with a US-regulated custodian model and don't need CHESS or an Australian tax statement
Where they differ
| Fact | CommSec | tastytrade |
|---|---|---|
| ASX trading | Yes — full ASX shares and ETFs | No — ASX trading not offered |
| US brokerage | 0.12% (min $5 USD) | $0 USD |
| CHESS sponsorship | CHESS-sponsored (own HIN) | Custodian model (no HIN) |
| Minimum deposit | $500 AUD | $0 AUD |
| Fractional US shares | Yes | No |
Choose CommSec for Australian shares under your own HIN; choose tastytrade for zero-commission US options trading.
Common questions
How do CommSec and tastytrade compare on asx trading?
CommSec: Yes — full ASX shares and ETFs. tastytrade: No — ASX trading not offered. CommSec is the only option here if you want Australian shares.
How do CommSec and tastytrade compare on us brokerage?
CommSec: 0.12% (min $5 USD). tastytrade: $0 USD. tastytrade is genuinely free for US trades; CommSec charges a percentage plus minimum.
How do CommSec and tastytrade compare on chess sponsorship?
CommSec: CHESS-sponsored (own HIN). tastytrade: Custodian model (no HIN). CommSec gives you direct ASX ownership; tastytrade holds US assets in custody.
When is CommSec the better choice over tastytrade?
Pick CommSec if you want to trade ASX-listed shares and ETFs under your own HIN with CHESS sponsorship; you need a full suite of Australian account types — SMSF, trust, company, joint, and kids accounts; you want seamless integration with CBA banking, including instant transfers via CDIA; or you need Australian tax statements, DRP, and IPO access on local stocks.
When is tastytrade the better choice over CommSec?
Pick tastytrade if you trade US options actively and want zero commission on US stocks and options; you want a dedicated desktop trading platform alongside mobile apps; you prefer to start trading with no minimum deposit and no brokerage fees on US trades; or you need a demo account to practise US options strategies before going live.
CommSec or tastytrade — what's the verdict?
Choose CommSec for Australian shares under your own HIN; choose tastytrade for zero-commission US options trading.
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 | CommSec | tastytrade |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | custodian |
| Individual HIN | Yes | No |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | No |
| Kids / minor account | Yes | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | Yes | Yes |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.55% | — |
| FX spread (other currencies) | 0.55% | — |
| 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). | Standard US corporate action processing applies (dividends, splits, mergers). Mandatory corporate actions are processed at no fee; voluntary corporate actions (e.g. tender offers) may incur a fee per tastytrade's fee schedule. |
| costs visible | ||
| ASX brokerage minimum | $5 | — |
| ASX brokerage percentage | 0.12% | — |
| ASX brokerage threshold | $25,000 | — |
| 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). | Not applicable — tastytrade does not offer ASX trading. |
| US brokerage minimum | US$5 | US$0 |
| 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 | — |
| Off-market transfer fee | $54 | — |
| identity and trust | ||
| Legal entity name | Commonwealth Securities Limited | tastytrade, Inc. |
| AFSL number | 238,814 | — |
| Year founded | 1,995 | 2,017 |
| Parent / ownership | Commonwealth Bank of Australia (ASX: CBA) | IG Group Holdings plc (LSE: IGG) |
| Country of incorporation | AU | US |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | BPAY, Direct debit, Bank transfer (CDIA), Cheque, Cash deposit (CBA branch/ATM) | international wire (USD), ACH (US only), check (US only) |
| Settlement period | T+2 (ASX) / T+1 (US) | T+1 (US equities/ETFs, from May 2024) |
| Withdrawal time | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) | International wire withdrawals to AU typically 3-5 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 | No |
| 2FA support | SMS + authenticator | authenticator app |
| Customer support channels | phone, email, live chat (in-app), secure mail (in-platform), social media (X, Instagram) | phone, email, live chat |
| Support hours (AU time) | Phone 8am-6pm Mon-Fri Sydney time (general & options); extended trading-hours support during ASX session. No 24/7 support. | Monday-Friday, approx. 7am-5pm US Central Time = approx. 10pm-8am AET (next day). Weekend support limited. No AU business-hours coverage. |
| Education content | structured courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| Distribution component breakdown | No | 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 | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | Yes | Yes |