Share Trading comparison
CommSec vs Interactive Brokers Australia
CommSec and Interactive Brokers Australia sit at opposite ends of the trading spectrum. CommSec is Australia's dominant retail broker — CHESS-sponsored, bank-backed, and built for straightforward ASX investing. Interactive Brokers is a global powerhouse offering access to 30+ markets, tighter FX spreads, and far lower US brokerage, but it holds your ASX shares in custody rather than under your own HIN. That single structural difference drives most of the practical trade-offs.
Choose
CommSec
if…
- ›You want CHESS sponsorship and your own HIN so ASX shares are held directly in your name
- ›You're a buy-and-hold ASX investor who values zero monthly fees, free real-time data, and a simple tax statement
- ›You want a kids/minor account or easy access to IPOs and managed funds
- ›You prefer a bank-integrated experience with instant transfers via a linked CDIA account
- ›You want occasional promotional free trades (e.g. 30 free trades up to $50k each for new customers)
Choose
Interactive Brokers Australia
if…
- ›You trade US stocks regularly — IBKR charges from US$1 brokerage vs CommSec's US$5 minimum, with a razor-thin FX spread of 0.0002%
- ›You want access to 30+ global markets including Canada, Europe, Asia and emerging markets from one account
- ›You need advanced trading tools — desktop platform, demo account, conditional orders, and sophisticated auto-invest/DCA
- ›You trade options or CFDs and want 24/5 customer support plus lower margin rates
- ›You're cost-conscious on ASX trades above $25,000 — IBKR's 0.08% rate undercuts CommSec's 0.12%
Where they differ
| Fact | CommSec | Interactive Brokers Australia |
|---|---|---|
| CHESS sponsorship model | CHESS-sponsored (individual HIN) | Custodian (no individual HIN) |
| ASX brokerage (under $25k) | $5 minimum (with CDIA) | $6 minimum |
| US brokerage minimum | US$5 | US$1 |
| FX spread (AUD/USD) | 0.0055% | 0.00002% |
| Free real-time market data | Yes (included) | No (separate subscription required) |
Verdict
Choose CommSec for simple, CHESS-sponsored ASX investing with bank integration; choose Interactive Brokers for global markets and low-cost US trading.
Cost calculator
What would CommSec vs Interactive Brokers Australia actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | CommSec | Interactive Brokers Australia |
|---|---|---|
| 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 | Yes |
| Kids / minor account | Yes | No |
| 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 | US, Canada, UK, Ireland, Germany, France, Netherlands, Belgium, Spain, Italy, Switzerland, Austria, Sweden, Norway, Denmark, Finland, Poland, Czechia, Hungary, Israel, Hong Kong, Japan, Singapore, China (Stock Connect), South Korea, India, Indonesia, Thailand, Malaysia, Australia, New Zealand, South Africa, Mexico |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | Yes |
| Managed funds | Yes | No |
| Bonds supported | Yes | Yes |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.55% | 0.002% |
| FX spread (other currencies) | 0.55% | 0.002% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | No |
| Market data fees | $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). | Corporate action processing is generally fee-free for standard events (dividends, splits, mergers). Some voluntary corporate actions and ADR pass-through fees apply per the published fee schedule. Mandatory reorganisations are processed at no charge. |
| costs visible | ||
| ASX brokerage minimum | $5 | $6 |
| ASX brokerage percentage | 0.12% | 0.08% |
| 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). | — |
| US brokerage minimum | US$5 | US$1 |
| US brokerage percentage | 0.12% | 0.05% |
| 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 | $0 |
| identity and trust | ||
| Legal entity name | Commonwealth Securities Limited | Interactive Brokers Australia Pty Ltd |
| AFSL number | 238,814 | 453,554 |
| Year founded | 1,995 | 1,978 |
| Parent / ownership | Commonwealth Bank of Australia (ASX: CBA) | Interactive Brokers Group, Inc. (NASDAQ: IBKR) |
| Country of incorporation | AU | AU |
| 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) | Bank transfer (EFT), BPAY, International wire (SWIFT) |
| Settlement period | T+2 (ASX) / T+1 (US) | T+2 for ASX, T+1 for US equities |
| Withdrawal time | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | Yes |
| 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, in-app secure message |
| 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 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight |
| Education content | structured courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| 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 | Yes |
| Auto-invest sophistication | none | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | Yes | Yes |