Commonwealth Securities (CommSec) has announced the launch of an online international share trading platform, offering investors access to major global equities markets.
The new service, which will offer reduced brokerage fees of US$5 per trade for international equities, will initially be available through the CommSec website, but will be extended to the CommSec app and into the investor functions of the Commonwealth Bank of Australia (CBA) app in the near future.
CommSec executive general manager Richard Burns said the platform will enable over 2.7 million CBA customers to explore international stock investments and the platform will appeal to the increasing popularity of international investments in Australia, particularly among younger investors.
“This new platform offers investors a fast account set-up process and seamless access to online share trading in 13 international equity markets including the US, Canada, Japan and UK,” Burns said.
“The recently published ASX 2023 ‘Australian Investor Study’ shows more Australians are investing directly in international shares than ever before. International share trading is particularly popular with younger investors who comprise over half our new account openings, so we expect our new platform will be really well received.”
Last week, CommSec lowered its brokerage fees for smaller trades in Australian markets, charging $5 for trades below $1000 and $10 for trades between $1000 and $3000.
“The introduction of our new and competitive brokerage rates further demonstrates our commitment to provide more value for our customers. With financial pressures increasing for many, we’re pleased to be supporting the next generation of investors with both value and the recognised functionality of Australia’s leading online broker,” Burns noted.
CommSec is also expanding its offerings to include three new exchange-traded funds (ETF) through the CommSec Pocket app. CommSec customers will now have access to the Betashares Diversified All Growth (ASX: DHHF), VanEck MSCI Australian Sustainable Equity (ASX: GRNV) and Betashares Australian Investment Grade Bond (ASX: CRED) ETFs.