- CommSec vs CommSec Pocket Overview
- Fees Comparison
- Minimum Investment
- Number of ETFs
- Supported Devices
- Final Verdict
CommSec vs CommSec Pocket Overview
When it comes to stock investing in Australia, CommSec and CommSec Pocket are two household names. If you are wondering which of the two is better suited to your investment goals, we are here to help you with a CommSec vs CommSec Pocket comparison.
While CommSec is the largest stockbroking firm in Australia, CommSec Pocket is an investing app owned by the firm. The first is for large scale investing while the second is for those testing the waters in stocks investing.
In this comparison of the two, we will highlight some of their main distinguishing features. We will also show you some of their pros and cons to help you see which is better for stock investors in Australia. Below is a table of the main features of the two.
CommSec vs CommSec Pocket: Fees
CommSec has significantly higher fees than CommSec Pocket. Even though the fees seem to drop to 0.12% with an investment above $25,000, it isn’t really lower as it never drops below the fees at $25,000 or less. CommSec Pocket’s 0.2% for an investment of more that $1,000 is much less than what is obtainable on CommSec.
Winner: CommSec Pocket. It is more cost effective for those investing small amounts
CommSec vs CommSec Pocket: Minimum investment
CommSec sets its minimum investment at $500, meaning investors with less cannot use it. CommSec Pocket on the other hand allows anyone with as little as $50 to invest in stocks. It is therefore more inclusive and so more people can access stocks though it. The CommSec Pocket app has well over 1 million downloads now.
Winner: CommSec Pocket. Investors with smaller amounts can still invest in stocks.
CommSec vs CommSec Pocket: Number of ETFs
CommSec provides investors access to all ETFs listed on the Australian Stock Exchange (ASX). As at March 2020, there were 200 ETFs on ASX, which means there are currently at least 200 ETFs available to CommSec customers. There are only 7 ETFs on CommSec Pocket, which gives investors fewer options.
Winner: CommSec. Investors have many more options compared to CommSec Pocket.
CommSec vs CommSec Pocket: Supported devices
CommSec is supported on desktop and mobile devices. This also gives investors more options to use depending on their circumstances. CommSec being an app naturally can only be used on a mobile device.
Winner: CommSec. Customers can use computers or mobile devices depending on convenience.
CommSec and its app are both recognised stock trading platforms in Australia. However if we are to compare the two, CommSec would be a better option as it gives more stock options. Although the fees are much higher, customers will have access to more stock options and can explore many investment opportunities.
If you are interested in comparing SelfWealth vs CommSec, be sure to check out our guide.