CommSec Review
CommSec is an Australian based brokerage firm founded in 1995 at Sydney. It is one of the largest stockbrokers in Australia. It is regulated by the Commonwealth Bank in Australia. It is an investment enterprise that provides an opportunity to invest or trade through multiple trading options it offers. Over the past three decades, it is making efforts to provide the best possible services to its customers and make a reputable place in the international market.
Is CommSec a scam?
No, CommSec is not a scam. It is rather a highly reputable broker firm known for its low-risk investments. It is a trading name used by Commonwealth Securities Limited, that is a subdivision of Commonwealth Bank of Australia. Being a part of a well-known bank, it provides a better understanding of the competitive market conditions along with a trustworthy exposure to the market.
Here are some remarkable features that make CommSec a reliable and trustworthy broker for its customers.
Customer Protection
CommSec is a reputable broker firm that involves a lower risk factor due to the regulatory conditions implied. The trading services of CommSec are regulated by the Australian Securities and Investment Commission (ASIC) and they are made to follow the mandatory laws.
In addition to, the security guidelines, the broker also provides safety to its customer wallets through its strict regulatory services.
Account types
CommSec provides its customers a distinctive way of investment apart from the regular account opening practices. It offers the clients to choose between the 7 investment options according to their requirements and portfolio. It permits its customers to open an account that is based on an already existing bank account, or they can open a cash account utilizing the CommSec Share Trading Account.
Leverage
Leveraged entities increase the risk of potential loss same as they make the probability of profit higher. Therefore, it should be utilized smartly and efficiently. The leverage of a product depends on multiple factors such as proficiency level, the product quality etc.
CommSec offers flexible high leverage choices varying between 1:20 to up to 1:500.
Trading tools
CommSec offers various trading instruments to its clients that may include Cash, Shares, Fixed Income Securities, International Funds, Options, Equities and ETFs. In addition to that it also offers to increase the trade portfolio with its distinct offerings.
Deposits and Withdrawals
CommSec directly connects the account with one’s nominated settlement bank account, so all the payment transfers are also directly connected. CommSec withdrawal options are directly returned back to the connected bank account. Same is the case with deposits, while doing an investment or trading, the payment will be automatically taken and added to your account.
Trading platforms
The trading platforms provide the feasibility of trading worldwide with just a single click on the electronic devices. CommSec is connected to a powerful and front-end technology feature provided with maximum security. It is also recognized by the similar name. All the transactions can be held easily via the software and the required funds would be taken from the bank accounts automatically. This can be done through the CommSec mobile app or web software.
Customer Support
To rely on a broker for trade, one should first look upon the customer service it provides. CommSec is known for the effective customer support to its clients. It provides 24 hours service 5 days a week. It usually answers the queries within a day and help its customers in the best possible way. Customers can connect them via live chat, email or phone directly.
Conclusion
CommSec provides a suitable environment to the traders and the investors so they can professionally trade with all the feasibilities and updated technologies available to them. On the other hand, it also welcomes the beginners warmly and train and educate them to trade logically and gain maximum profit. The broker is constantly gaining success in the market due to its rigid background and the effectiveness of the Commonwealth Bank.
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