CBA launches online intl shares platform

CommSec, the Commonwealth Bank of Australia (CBA)’s online broking arm, has unveiled a new international equities trading platform, giving its retail investors access to the US and UK markets.

Accessible via the CommSec website, CBA boasts that its new share trading platform offers “seamless access to stock quotes, funds transfer and online trading”.

The service, CBA added, also offers users fast account set-up, access to online share trading in 13 international equity markets – including the US, Canada, Japan and the UK – and brokerage rates from US$5 (AU$7.5).

While currently only accessible via web browser, CBA confirmed that the platform would soon also be available via CommSec’s dedicated app, with plans to eventually integrate the service into the CommBank app.

CommSec was embedded into CBA’s banking app in early June following a major app refresh.

“CommSec’s purpose is to empower more Australians to grow their wealth and the launch of our new international share trading platform is fantastic news for our 2.7 million customers who will now be able to more easily invest in international equities,” said CommSec executive general manager Richard Burns.

He added that international share trading is “particularly popular with younger investors”, with this cohort comprising more than half of new CommSec account openings.

CBA has also announced a cut to its brokerage fee for Australian equities investments, which now begin at $5 for trades of up to $1,000. Investors can also access Exchange Traded Funds (ETFs) through the CommBank app and CommSec Pocket from $2.

CommSec touts itself as the “market leader for Exchange Traded Funds investment”, noting that more than 420,000 customers and $1.6 billion of funds have been invested since the launch of CBA’s dedicated ETF investment app, CommSec Pocket, in 2019.

CBA also announced that CommSec Pocket has added three new ETFs to its current range of seven funds: ‘Global Diversified’ (Betashares Diversified All Growth), ‘Aussie Sustainability’ (VanEck MSCI Australian Sustainable Equity) and ‘Aussie Corporate Bonds’ (Betashares Australian Investment Grade Bond).