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CommSec vs nabtrade
The battle of the bank-based trading platforms. Who comes out on top?
CommSec and nabtrade are two of Australia's most popular share trading platforms, but how do they actually compare on things like brokerage fees, features and available markets?
ASX brokerage fees
This is a breakdown of CommSec and nabtrade's trading fees on ASX (Australian Securities Exchange) shares, based on different trade sizes. For the purposes of this comparison, we're comparing a CommSec account that has Commonwealth Direct Investment Account (CDIA) attached.
nabtrade
- $9.95 per trade up to $1,000
- $14.95 per trade between $1,000-$5,000
- $19.95 per trade between $5,000-$20,000
- 0.11% of trade value for trades over $20,000
- Inactivity fee: No
CommSec
- $5.00 per trade up to $1,000
- $10.00 per trade between $1,000-$3,000
- $19.95 per trade between $3,000-$10,000
- $29.95 per trade between $10,000-$25,000
- 0.12% of trade value for trades over $25,000
- Inactivity fee: No
Verdict
Overall, CommSec is generally more cost effective than nabtrade on ASX trades on smaller size trades (under $3,000), while nabtrade is more cost effective on larger trades (above $10,000).
International brokerage fees
nabtrade has one brokerage fee structure for international shares, while CommSec has variable brokerage fees based on which global market you want to trade. It's also worth noting that CommSec has a much larger range of global markets compared to nabtrade, which we'll touch on the in the next section.
nabtrade
- $9.95 per trade up to $1,000
- $14.95 per trade between $1,000-$5,000
- $19.95 per trade between $5,000-$20,000
- 0.11% of trade value for trades over $20,000
- Currency conversion fee: 0.5%-0.8%
CommSec
You'll be charged either a flat fee or a percentage fee, depending on which is greater:
- United States: USD$5.00 or 0.12%
- Canada: CAD$40.00 or 0.40%
- France, Germany, Italy, Netherlands: €12.00 or 0.40%
- Hong Kong: HKD$130.00 or 0.40%
- Japan: JPY¥1,500 or 0.40%
- Norway: NOK175.00 or 0.40%
- Singapore: SGD$25.00 or 0.40%
- Sweden: SEK155.00 or 0.40%
- Switzerland: CHF₣17.00 or 0.40%
- United Kingdom: GBP£12.00 or 0.40%
- Currency conversion fee: 0.55%
- Inactivity fee: $25 per year
Verdict
CommSec is likely to be more cost effective on US trades, while nabtrade should be more cost effective on UK, Hong Kong and German stocks.
Available markets
Both nabtrade and CommSec offer CHESS-sponsored ASX stocks, but CommSec has a much larger range of international markets. nabtrade only lets you trade the US, UK, Hong Kong and German markets, while CommSec lets you trade those plus a number of other European markets as well as the Japanese, Singapore and Canadian markets.
nabtrade
Trade across 8 exchanges in the following 5 markets:
- Australia
- US
- UK
- Germany
- Hong Kong
CommSec
Trade 13 global markets:
- Australia
- US
- UK
- Germany
- France
- Italy
- Netherlands
- Sweden
- Norway
- Switzerland
- Hong Kong
- Japan
- Singapore
Verdict
CommSec is the clear winner on available markets, offering access to a range of Asian and European markets that aren't available with nabtrade.
Trading tools and features
Both nabtrade and CommSec let you trade options and also access margin lending. Both also let you place market and limit orders, as well as conditional orders.
nabtrade
- Warrants and options
- Margin loans
- Order types: Market order, limit order (with expiry date), conditional orders (on mobile and IRESS Viewpoint)
- Watchlists
- Charting tools
CommSec
- Warrants and options
- Margin loans
- Order types: Market order, limit order (with expiry date), conditional orders
- Charting tools
Verdict
It's effectively a dead heat on trading tools with both nabtrade and CommSec offering options trading and advanced order types.
Research and data
nabtrade
- Free ASX market streaming data
- Day ahead and technical analysis (on desktop only)
- Company research
- Education: Trading Central newsletter, webinars, podcasts and events for nabtrade members
CommSec
- ASX market streaming data (free if you make more than 8 trades or $220 in brokerage per month)
- Live share market data and reports
- Education: video tutorials, podcasts, webinars, beginner guides
- Executive interviews: video interviews with leading industry figures discussing investment strategies and opportunities
Verdict
Both platforms provide solid educational resources and research, however nabtrade offers free market data, while CommSec only offers it for free if you hit a certain minimum trade threshold each month.
Customer support
Both CommSec and nabtrade have customer support phone lines that are open from 8am during the work week. Both also have a rating of 1.5 out of 5 on ProductReview, based on more than 200 reviews (last checked 20 September 2024).
nabtrade
- Contact methods: you can contact a nabtrade customer service representative on Monday-Friday between 8am-8pm AEST.
- Support centre: nabtrade offer an online FAQ and help centre.
CommSec
- Contact methods: you can contact a CommSec customer service representative on Monday-Friday between 8am-7pm AEST, or via an online form.
Verdict
CommSec and nabtrade both offer a phone support Monday to Friday, but neither offers an online or live chat function.
Should you trade ASX shares with CommSec or nabtrade?
CommSec and nabtrade have features that will appeal to new and experienced share traders, but there are a few differences in their fees structures.
In terms of ASX share trading, CommSec will likely be cheaper on trades under $3,000, while nabtrade will be cheaper for trades above $10,000.
How do they compare for global share trading?
The costs for overseas share trading is quite different. CommSec offers a much broader range of international markets (13 to nabtrade's 5) so will be a better option if you're wanting to trade certain Asian or European markets.
CommSec is also more cost effective on smaller US stock trades, while nabtrade will likely be more cost effective on German, UK and Hong Kong stocks.
In terms of currency conversion fees, CommSec has a flat 0.55% fee, while nabtrade will range between 0.5%-0.8% depending on the market.
Want to dive deeper?
Check out our in-depth reviews of CommSec and nabtrade for a more detailed analysis of the two trading platforms:
CommSec share trading review - "With a CommSec share trading account, clients can buy shares online quickly, easily and most importantly, affordably. Whether via their browser or mobile app, CommSec clients have access to real time quotes, news and state of the art charting to help give them the competitive advantage required to succeed in the share market."
nabtrade online share trading review - "Whether you're a seasoned trader or someone who's new to the investment game, nabtrade simplifies the share trading process. The online trading platform has a user-friendly interface, comprehensive research and reporting available and a tiered service level tailored to your trading activity. Whatever type of trading you're looking to do, nabtrade can help you research, invest and optimise your trades and investments."
Compare share trading accounts
If neither CommSec or nabtrade look right for you, take a look at our guide on choosing the best online trading share trading platform or take a look at some of the brokers in the table below.
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Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.
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Ask a question
I need to sell my mothers shares. I have power of attorney. I’d like to see someone and not post the information back and forth. Who can I go to.
Hi Andrew,
Good day and thanks for your inquiry.
You may refer to our list of ASX brokers. Please take note that this service comes with a broker’s fee whenever you place a trade to buy or sell shares, so it’s worth your while to shop around for the online share trading platform that offers the lowest brokerage fees.
Hope this helps!
Best,
Nikki
Hi : )
Which one (Nabtrade vs Commsec) is better for international share trading (Mainly US)?
Is my understanding correct that while Nabtrade offers a lower brokerage rate at $AUD 14.95/transaction, it charges a foreign currency exchange margin with every transaction.
On the other hand, it appears that CommSec opens an US account (through Pershing LLC) and conduct transaction using this US account, hence avoiding the foreign exchange margin (unless of course you transfer money from the US account to the CommSec cash account).
So while the Brokerage fee of CommSec appears higher ($US 19.95), the total cost per transaction between the two might end up being similar?
Can you please provide further insight comparing the two platforms in regards to international share trading?
Many thanks.
Max
Hi Max,
Thanks for your feedback and comment.
We’ll be writing up a case study on this however, the answer will depend on the amount the person wants to trade.
Regards,
Clarizza