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CommSec launches Australian-first app making share trading simpler and more affordable

CommSec launches app making share trading simpler and more affordable

24 July 2019

CommSec Pocket puts investments within reach with as little as $50.

Australia’s leading digital broker, CommSec, has launched a new innovative simple investing smartphone app, CommSec Pocket.

Currently just 4 per cent of Australian adults place a trade online in the sharemarket each year. Many more would like to, but feel the barriers to getting started are too high. CommSec Pocket aims to break down these barriers and empower savers to take the next step with their money and start investing.

To achieve this, CommSec Pocket brings two Australian firsts to market:

  • Enabling Australians to start investing directly in the sharemarket via Exchange Traded Funds (ETFs) with as little as $50, compared to the minimum first investment of $500 for most listed securities; and,
  • Offering automated regular investing, which allows Australians to time their investing to their savings or salary cycle.

“As Australia’s largest digital broker, we know that many people find investing in shares out of their reach or too complex. We’ve broken down those barriers by significantly reducing the amount needed to get started, reducing the cost of investing as well as simplifying choice. CommSec Pocket makes diversified investment in the stock market a simple and affordable option for more Australians,” said Richard Burns, Executive General Manager, CommSec.

CommSec Pocket will be offered at $2 brokerage for trades up to $1,000. Investors pay only when they trade with zero ongoing account keeping fees.

CommSec Pocket makes investing decisions smaller and easier by offering seven investment options that cover local and global industries and regions. These investments are ETFs, which diversify risk, are cost-effective and enable Aussies to invest in what appeals to them. The ETFs available to customers are:

  • Aussie Top 200 – The largest 200 companies in Australia
  • Global 100 – 100 global blue-chips
  • Emerging Markets – Top companies in China, Taiwan, Korea and more
  • Aussie Dividends – Large Aussie companies that consistently pay above-average dividends
  • Tech Savvy – Top 100 tech and non-financial NASDAQ companies
  • Sustainability Leaders – Global climate change leaders with no ‘unethical’ activity or investments
  • Health Wise – Global healthcare, biotech, medical and pharmaceutical companies

“CommSec has a rich history of innovating Australian stockbroking. In 1997, we disrupted the market as Australia’s first online broker and again in 2008, we launched Australia’s first iPhone trading application, becoming the first broker to offer trading on a smartphone. CommSec Pocket is our latest innovation that will help empower more Australians to grow their wealth. We will continue to listen to our customers and find new ways to help all Australians access the opportunites the sharemarket can bring,” said Mr Burns.

CommSec Pocket is developed and managed by Australia’s leading online broker, CommSec, and backed by Australia’s largest bank, CommBank. The app is secure, built-on and using CommBank and CommSec’s security frameworks and infrastructure. A customer’s CommSec ID, NetBank ID and passwords are secure and are not shared with any third parties.

CommSec Pocket is available for download from the iOS App Store and Google Play Store and is open to individual adult investors. To use CommSec Pocket, customers must have a CommBank Transaction account and a CommSec ID or NetBank ID.

For more information please visit commsec.com.au/pocket or contact a CommSec Specialist on 1300 726 608.

Commonwealth Securities Limited ABN 60 067 254 399, AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945. This information is not advice and has been prepared without taking into account your objectives, financial situation or needs. You should consider the PDS (together with the other important information) before making a decision about the product. Investing carries risks. The value of your investment may go down as well as up. Brokerage is charged at $2 per trade, for trades up to $1,000 and 0.20% for trades above $1,000. Each ETF offered through the app has a management fee – this fee is levied by the ETF provider and is disclosed in the app. Please consider the Financial Services Guide for fees and charges. To operate a CommSec Pocket account, you’ll need an eligible CommBank transaction account. Please consider the full terms and conditions which are available on request.