CommSec launches international share trading platform
CommSec launches international share trading platform
With the introduction of a number of new features, CommSec is making it simpler for more Australians to begin their investing journey. One of these features is a new online international share trading platform that provides a quick account setup process, simple access to 13 equity markets, and brokerage rates starting at USD $5.
CommSec's website is where this service is first made available, giving users convenient access to stock quotes, money transfers, and online trading. With plans to integrate the service into the expanding investor functionality of the CommBank app, mobile international share trading will also soon be accessible via the CommSec app.
"CommSec's purpose is to empower more Australians to grow their wealth, and the launch of our new international share trading platform is fantastic news for our 2.7 million customers who will now be able to invest in international equities more easily," said Richard Burns, executive general manager of CommSec.
"Investors can easily access online share trading in 13 different international equity markets, including the US, Canada, Japan, and the UK, thanks to this new platform's quick account setup process. Additionally, we have lowered brokerage fees so that they now start at just $5 USD for US stocks.
The most recent ASX 2023 Australian Investor Study reveals that more Australians than ever are making direct investments in foreign stocks. Over half of our new account openings are from younger investors, and they are particularly fond of international share trading, so we anticipate great success for our new platform.
For trades of up to $1,000, the brokerage fee for Australian stocks has also been reduced to $5, with competitively tiered pricing for larger trades. Customers can now invest in ETFs through the CommBank app and CommSec Pocket for just $2 and trade on both the Australian and global share markets starting at $5 thanks to CommSec's low brokerage fees.
"Our dedication to giving our customers more value is further demonstrated by the launch of our new and aggressive brokerage rates. We're happy to support the next generation of investors with value and the well-known functionality of Australia's top online broker, Mr. Burns said, noting that many people are experiencing rising financial pressures.
Since the launch of the ETF-specific CommSec Pocket app in 2019, CommSec has gained over 420,000 users and invested $1.6 billion in exchange traded funds, solidifying its position as the market leader in Australia. The three new ETFs, Global Diversified (Betashares Diversified All Growth), Aussie Sustainability (VanEck MSCI Australian Sustainable Equity), and Aussie Corporate Bonds (Betashares Australian Investment Grade Bond), are now accessible to all CommBank customers via the CommBank app.
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