Brent ESydney, NSW
- 19 reviews
Perfect, can't fault the platform
Easy to use, to trade and very informative, cannot fault.
When placing trades, your CDIA account is debited/credited a couple of days from your account when the trade settles.
Reports that you can print makes tax time easier!
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MaximSouth East Queensland, QLD
Always unreliable when you need it the most
I have been delayed by IRESS CommSec many times in crucial moments, loosing my money again and again.
Sometimes they put you on "manual authorisation" meaning someone in their trading department will manually check your transaction when he has time. And you wait till his approval. Sometimes up to 15-20 secs. Sure you miss the moment. Unbelievable. Lost lots of money because of that. If you are winning you have greater chances to get on their "manual authorisation" list, so, I guess, their traders will put their orders ahead of yours.
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SarahGreater Melbourne (Inner), VIC
Commsec unreliable
Commsec have lapses in the functioning of their software and other processes. Recently their settlement calculator was malfunctioning.
This led to a very costly action by them on my account. No text to forewarn me, no phone call, impossible to get through to them to clarify the confusion. The service desk have a manner which lays blame on you, as they sneak out of any responsibility. They cannot be relied upon. Knowing that they have had issues, they did not make reasonable attempts to make clients aware of the malfunctioning and to be extra vigilant.
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Jack SIllawarra, NSW
- 3 reviews
Appalling customer service - AVOID THEM
Well I decided to open a trading account with Commsec because I've been a CBA customer for over 40 years & I thought it would be easy, BIG MISTAKE!
Well now its been 5 weeks since I submitted my application & my account still isn't open.
I have called them countless times & get completely different responses from their staff. They have asked for additional information which was emailed same day. Then I followed up next day to make sure they received it & yes all good. I call a week later & they tell me they they don't have it & to resend it???
Their incompetence & complete lack of customer support is STAGGERING. After 5 weeks I have given up & will go with someone else.
I'm only giving them 1 star because I cant go any less.
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Steve
- 21 reviews
They do not care
AS a day trader I have no confidence in this company anymore. They have some serious problems with their software. They have failed to sell and their response time is very very slow. Made a complaint six weeks ago and no answer. They failed to sell again ON MARKET again this morning. Wake up COMSEC!!!!!!!
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EricSydney, NSW
Commsec sucks
Pretty horrible application and difficult to understand. Too many unnecessary components on the website. The fees are expensive and they will try to cheat you to take all of your money in costs and fees
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JustinBAuckland
- 2 reviews
Absaloutly rude Customer Service Staff
Opened a shares Trust account for my 12 year old son, which he then resumes responsibility for when he is 18.
I wanted to purchase shares on the NYSE and was told i could do that once I had opened a CDIA account for him. Once opened, i called in to find out how to open the international trading account, only to be told that they do not allow it. The female representative I was speaking to was quiet rude. When i asked her if i could speak to someone else, she told me they were too busy and to call back at another time.
This whole situation made me feel like all we were was a number to them. No genuine interest to help me.
Avoid using Commsec at all costs if you appreciate good customer service.
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DillionSydney, NSW
- 2 reviews
- Verified customer
Commsec Funds Transfer Loses All My Money
I transfered money from Netbank to Commsec via BPAY to buy shares and they still haven't credited my account after 3 days. They state 24 - 48 hours but thats not true.
I did email the CEO of Commsec [name removed] but no reply from him or his staff.
I live overseas for work and called them but was on hold for over an hour which cost more than $20 and still couldn't get thru to support. Someone did reply to me via email but never fixed the problem.
Why does a billion dollar company treat people so poorly?
And of course all the staff remai...Read more
n anonymous and never provide their surname which seems very weak. This is their reply : Please note that it can take up to 24 - 48 hours for transfers to complete and overnight for the site to refresh.4 comments
Day 5 and still no funds in either my Netbank account or Commsec account. Still no response from the emails i sent Commsec.
Update. Got the money back after 9 days with no admission of guilt. 9 days i couldn't trade. Had to fly into Australia for a week to get it back and they still haven't opened my options account even t... Read more
hough i applied 2 weeks ago. They don't provide surnames and they don't provide a office address. Now i understand why.Similar opinion? Write a review on ieatwords.com.au!
TSvensonGreater Melbourne (Metropolitan), VIC
Expensive, poor service, inefficient. Waste of time and money, steer clear!
Don't bother with CommSec. Firstly they are expensive with many cheaper alternatives for a comparative price.
Secondly their customer services and systems are terrible. Two occasions come to mind:
I was selling a parcel of shares to fund a property settlement. About a month before settlement of the property I had changed my bank account associated with my CommSec account. Easy process, CommSec confirmed the change. A week before property settlement I sold the parcel of shares expecting the share money to settle within 2 business days (as per C...Read more
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paulCentral Queensland, QLD
suspended from my monet
late 2022 i mailed 2 divdend cheques to comsec for depositing. Something I've done many times over a decade or more. never had a problem with anything in comsec before but on this occasion they without advising me they suspended my account and have not allowed me to transfer my holdings away from them. They have stolen my right to my money with no communication. Have contactsd AFCA but no response, still within the 45 days.. Comsec have conditionally apologized but account remains suspended. How is this legal
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bromboDaylesford
- 12 reviews
CommSec: an excellent service
I have been with CommSec for about 20 years and am very satisfied with the service it offers. The web site with all the information it provides is handy for small time and larger investors who have little time to spend on independent research. Information like current yield, dividend history, price history, recent announcements and 'recommendations' are easily accessible. Its fees are around the the best that are available. I have generally found the people on the help desk to be quite friendly and helpful if one is having difficulties using or navigating the CommSec site.
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AlexPerth
- 7 reviews
Not worth the premium
I have been with them for a while and the app itself is very helpful but the phone service is useless... Lost $300 because they did not release some share on a deferred settlement listing. I called and confirmed the shares were free for trade and they were not...
Other brokers offer similar services for a much cheaper price and you don't have to call to confirm anything. All stock is available immediately.
Also while trying to fix my problem (and I havent been able to) I had to spend 30 minutes on the phone with someone that didn't understa...Read more
nd the issue and kept on asking interrogatory questions to see if I understand the market. Two weeks later they called and said that this is how things are and that they have to manually accept my transaction before it goes to market... 2020 and someone has to manually approve my transaction... Just excuses and don't want to take responsibility. No reason to transact with Commsec at all... Higher prices lower service...Similar opinion? Write a review on ieatwords.com.au!
LeroiAU
- 13 reviews
- 1 like
International trading nightmare
If you are considering Commsec International for share trading simply look elsewhere. I really cannot believe how disorganised this specific department of CBA and Commsec is. The really high fees for the simplest of instruments are a sign that CBA provides this service only to get a cut from each transaction. In other words customers pay a fee over the original fee charged in the USA usually by their partner Pershing. Every time I call to get an update over a planned transaction I hear the same generic excuse that someone will handle the issue ...Read more
but for 2 months now no one has done anything at Commsec. The supervisor knocks off at 3PM sharp to make it worse so there is no way to escalate a complaint promptly. For slightly complex transactions they just blame their counterparts in the USA when in fact I only encounter such roadblocks with Commsec International. How such poor service can last in this era of fast online providers and competition is a real mystery.Similar opinion? Write a review on ieatwords.com.au!
KenGreater Melbourne (Inner), VIC
Fine for on line trading BUT
Good reasonably efficient on line platform - BUT - if things go off the rails, or you need personalised assistance, forget it!!! Staff generally seem to have limited knowledge, continuously put on hold while checking with supervisors and are slow to react
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Foo
- 2 reviews
Absolute joke......
Oh my....They have just lost the Plot on their new CommSec share trading website.Very difficult to access charts,transaction history,meaningful company information etc.This has driven me to end my long association with CommSec.The Royal commission outcomes got me leaning toward leaving but the new website inadequacies is the nail in the coffin....Goodluck and good bye
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Standover, Bullying From the Commsec Trading Desk
I have been trading with Commsec for more than 8 years. I find the App lacks technical indicators for charting. You need to have a settlement account that is a Commonwealth bank account or they won't allow you to trade more than 29k. The reason given; ”We can't see the money in your account.” This is despite being offered a margin lending product because of the successful trades I have completed. When I stated that I can get a better interest rate with another bank and that is the only reason I am with them (bank name not stated for privacy rea...Read more
sons) they stated that I would have to BPay funds into the account so they could see them if I want to make a larger trade on anything other than the top 200 stocks. Great, a solution I thought. After talking with Commsec help desk my account was locked for no explicable reason other than; ”You may be money laundering.” I have not been supplied with any explanations, despite multiple requests to understand why this is so! I am dumbfounded as to their reasons. They then informed me that if I held the shares and built them up that would be acceptable to them to allow larger trades. I explained that I am a trader and that is not a part of my trading strategy and that's why I am using a trading platform! They know this because they offered me a margin lending account based on my trading results. After proving that their laundering accusations were blatantly untrue, baseless and ridiculous the account remained locked because one of the help desk staff hadn't talked to the other help desk staff to unlock it! Was I being punished for questioning a bank? I lost out on the opportunity for three profitable trades and all my Australian tax details were already in their possession! According to the news the Commonwealth bank was busted for laundering hundreds of millions of dollars illegally, are they now harassing their Australian tax paying mums and dads on the share trading platforms to prove they are doing their due diligence - to catch out criminals? I BPay’d the funds into my trading account as directed and they disappeared from my account balance, first from the App and then from their website and were placed in an obscure section of the account transaction stating a - negative sign in front of the balance! I complained and wanted to know where my money was and they said you will have to open a Commonwealth account so we can see your money. I explained that I BPay’d like they said I needed to and they came back to me and said that the money should be in my clearing account, to which I stated that I had BPay’d it like they had advised. Round and round we went. The games have been profound. To add insult to injury, I was again told by phone on the help desk that I should have a Commonwealth clearing account so they can see how much money I have to enable larger trades. When I again told them they don't pay enough interest on their account to warrant me putting my money with them (only a pitiful 0.9% according to the trading desk staff), less than half of what I get with the other bank they hit me with what I feel is another bullying stipulation. I can only BPay into my share trading account if I provide a BPay receipt proving that I have deposited the funds into their account! This is despite them being able to see and track that the BPay came in and has been deposited from my reasonable interest paying Australian bank. I cannot understand the level of harassment coming from the Commonwealth. I cannot rate them lowly enough. I feel I have been treated completely unjustly, in a patronizing, offensive and arrogant manner.Similar opinion? Write a review on ieatwords.com.au!
BazSouth East Queensland, QLD
CommSecIRESS "Viewpoint" major step BACKWARDS from "Trader"
I have tried to enjoy the challenges and benefits of using CommSec's new trading platform "Viewpoint" to no avail. It has been three months since being forced on to their new platform, from Iress "Trader". The new software has halved my trading activity, the screen is difficult to read, many shortcuts that were available for a quick transaction no longer exist (no right button clicking), it can not be customised to the same degree, it is difficult to see where buyers and sellers are separated on a Market depth window, it is just not intuitive for the task at hand, buying and selling shares.
I am considering changing brokers to NAB Trade who I am told, still offer the old "Trader".
Signed Dissatisfied CommSec One customer
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BSFAU
- 50 reviews
suggestions for improvement
Have been using commsec for 10 years, overall I am satisfied with them.
Recently tried using commsec pocket, whilst all of my holder accounts show up on the commsec website, my pocket account doesnt yet appear on CBA Netbank. Something wrong?
Would also like to suggest that you allow all account types to open a pocket account eg SMSF.
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SNOZTasmania
- 4 reviews
Commsec Charting
Commsec have changed their system somewhat and as far as I am concerned have made the use of their Charting "Atrocious" and total unusable for small time punters, The Casino bosses look to be making it slower and tougher on the mugs, Time consuming ! and a BIG backward step to what was there before, I have now opened an account with IG and once I learn their system will be moving, Not that long ago ComBank closed Commsec's banking side of the business and placed all under Com Bank, (paying LESS interest) on peoples money (only reason) Mistake N0 1 ComBank, Making your trading platform less appealing and harder to use - Mistake N02, NO ONE! NO ONE ! would be happy with the new charting
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BaboonicSYDNEY
- 4 reviews
- 2 likes
New website
I've been with commsec for over 10 years now, no broker is perfect but commsec was good.
They are changing their website and it's not better for the end user, not happy Jan!
Fist they've changed Quotes and now porfolio and both are harder to read and across the whole page... not good and if you call them they never change anything it's waste of time. I agree with another user of Commsec here it's time to change the broker... does Commsec care?
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Questions & Answers
AJJasked
Excuse my ignorance in this area and I appreciate that I should have conducted more research before dabbling at a very introductory level in the share market. I purchased some low cost shares (Anteo Diagnostics - ADO) via Commsec several years ago. Two weeks ago, I received a small cheque from Commsec to the shares' current value and these ADO shares have now disappeared from my portfolio. I appreciate any enlightenment as to how shares are sold on one's behalf without permission. Thank you in advance.
No answers
Samasked
How do Commsec buy and/or execute shares at a discount? ie: ASX $22.30 Commsec Buy confirmation $2.10...
No answers
Amandaasked
I am trying to find a link to see comesec trading platform, I currently trade the forex market, does comsec for shares allow you to put stochatics/ indicators onto the platform?
thank you in advanced
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Dillion
Update: 4 days and still no funds. I cannot take the funds to another broker because they have been transferred out of my Netbank account and not credited to any account. No reply from Commsec after ... Read more
sending several emails. Spent over USD$200 on international calls and cannot get through.