CMC Invest vs CommSec: share trading platforms

Choosing an online share trading platform is one of the first big money moves for any new investor. Do you go with a global brokerage known for aggressive pricing and advanced tools, or stick with the country’s largest retail broker backed by a major bank?

On one side is CMC Markets, a publicly listed global trading specialist. Its stockbroking arm, CMC Invest, has built momentum with low-cost trades, while its broader business spans foreign exchange (forex) and spread betting.

CMC Invest was a standout in the 2025 Mozo Experts Choice Awards for Online Share Trading, earning the Highly Commended Online Share Trading accolade, as well as wins in both the Regular Investor and Active Trader categories. This is the fourth consecutive year that the platform has been recognised by Mozo as a leading provider.

On the other side is CommSec, the online investment arm of the Commonwealth Bank. As one of Australia’s largest retail brokers, CommSec offers a familiar and trusted gateway for beginners who want their banking and investing in one place.

This guide compares the two online share trading platforms side by side to help new investors decide which platform may be the better fit for them.

CMC Invest vs CommSec: side by side

A quick comparison makes it easier to see where each platform stands out. Rates and features change, so always check the latest details directly on each provider’s website.

Brokerage fees and cost structures

CMC and CommSec take very different approaches to brokerage.

CommSec Pocket, with its $2 brokerage fee per trade up to $1,000, is designed for micro-investing and regular contributions, making it an excellent option for new investors focused on a simple, low-cost strategy. However, this simplified approach comes with a key limitation: you can only choose from a curated list of 10 themed ETFs. These ETFs cover a range of popular investment themes like Australian shares, global shares, technology, and sustainability, but they are not the entire market.

CMC Invest, on the other hand, offers a full-featured brokerage platform. While its primary appeal for cost-conscious investors is the $0 brokerage on the first buy of an Australian stock or ETF under $1,000 each day, it provides access to a much wider universe of shares and ETFs beyond a limited list.

The cheapest option depends entirely on your trading style and investment goals:

• For investors focused on a single, long-term ETF strategy from a pre-selected list: The low, flat fee of CommSec Pocket is a very compelling option.
• For investors who want to buy and hold a single stock or ETF each day without being tied to a limited list: CMC’s $0 brokerage is beneficial.
• For investors who want to make multiple, small trades a day and are satisfied with the curated list of ETFs: CommSec Pocket is cheaper. For example, if you make two trades of $1,000 or less on the same day with CMC, you would pay $0 for the first and $11 for the second. With CommSec Pocket, the two trades would cost a total of $4 ($2 each), making it significantly more affordable for that specific use case.

Ultimately, the choice comes down to a trade-off between simplicity and choice. CommSec Pocket offers a super-low entry point, but it's not a true brokerage platform and its limited investment options may not be a comparable alternative for all investors.

Platform features, usability and investment options

Both brokers give you direct ownership of Australian shares through CHESS sponsorship. This means shares sit under your own Holder Identification Number (HIN), offering added security and transparency.

Where they diverge is scope. CommSec is a relatively straightforward share trading platform, while CMC caters to both retail and advanced investors, offering access to more complex products like forex. These carry high risks and aren’t suitable for beginners.

International trading is another key difference. CMC highlights $0 brokerage on US shares, but the real costs for both brokers often lie in the foreign exchange spread and other fees:

• CMC FX spread: up to 0.60%
• CommSec FX spread: 0.55%

On a $5,000 USD trade, that’s an FX fee of up to $30 with CMC or $27.50 with CommSec. But CommSec also charges a $5 USD brokerage fee (or 0.12% of the trade, whichever is greater).

This means that while CommSec’s FX spread is slightly lower, its fixed brokerage fee can make total costs higher, particularly on smaller trades where brokerage forms a bigger share of the cost. In short, it’s not just the headline brokerage or FX spread that matters, but the all-in cost of the trade.

Education and support

Both brokers back investors with education.

• CommSec. CommSec Learn, Stock’d, webinars, podcasts and expert market updates.
• CMC. Knowledge Hub with guides and webinars.

Verdict: which platform suits you?

There’s no one-size-fits-all answer. The better platform depends on your goals.

• For small, regular investors: CommSec Pocket is the simplest and cheapest option, with $2 trades and $50 minimums but there are only 10 ETF options to choose from and CHESS ownership isn’t permitted.
• For beginners with a larger portfolio: CMC’s $0 daily buy under $1,000 is attractive, but CommSec’s tiered fees may be more predictable if you trade more often.
• For global investors: Both have competitive offers but watch for FX fees.

The bottom line: If you value simplicity and a well-established platform, CommSec is hard to beat. If you’re cost-conscious, comfortable with trading tools and see yourself branching into global markets, CMC may have the edge.

Note: The information in this article is correct as at 9 September, 2025.