Currently just 4 per cent of Australian adults place a trade online in the sharemarket each year. Many more would like to, but feel the barriers to getting started are too high. CommSec Pocket aims to break down these barriers and empower savers to take the next step with their money and start investing.
To achieve this, CommSec Pocket brings two Australian firsts to market:
- Enabling Australians to start investing directly in the sharemarket via Exchange Traded Funds (ETFs) with as little as $50, compared to the minimum first investment of $500 for most listed securities; and,
- Offering automated regular investing, which allows Australians to time their investing to their savings or salary cycle.
“As Australia’s largest digital broker, we know that many people find investing in shares out of their reach or too complex. We’ve broken down those barriers by significantly reducing the amount needed to get started, reducing the cost of investing as well as simplifying choice. CommSec Pocket makes diversified investment in the stock market a simple and affordable option for more Australians,” said Richard Burns, Executive General Manager, CommSec.
CommSec Pocket will be offered at $2 brokerage for trades up to $1,000. Investors pay only when they trade with zero ongoing account keeping fees.
CommSec Pocket makes investing decisions smaller and easier by offering seven investment options that cover local and global industries and regions. These investments are ETFs, which diversify risk, are cost-effective and enable Aussies to invest in what appeals to them. The ETFs available to customers are:
- Aussie Top 200 – The largest 200 companies in Australia
- Global 100 – 100 global blue-chips
- Emerging Markets – Top companies in China, Taiwan, Korea and more
- Aussie Dividends – Large Aussie companies that consistently pay above-average dividends
- Tech Savvy – Top 100 tech and non-financial NASDAQ companies
- Sustainability Leaders – Global climate change leaders with no ‘unethical’ activity or investments
- Health Wise – Global healthcare, biotech, medical and pharmaceutical companies
“CommSec has a rich history of innovating Australian stockbroking. In 1997, we disrupted the market as Australia’s first online broker and again in 2008, we launched Australia’s first iPhone trading application, becoming the first broker to offer trading on a smartphone. CommSec Pocket is our latest innovation that will help empower more Australians to grow their wealth. We will continue to listen to our customers and find new ways to help all Australians access the opportunites the sharemarket can bring,” said Mr Burns.
CommSec Pocket is developed and managed by Australia’s leading online broker, CommSec, and backed by Australia’s largest bank, CommBank. The app is secure, built-on and using CommBank and CommSec’s security frameworks and infrastructure. A customer’s CommSec ID, NetBank ID and passwords are secure and are not shared with any third parties.
CommSec Pocket is available for download from the iOS App Store and Google Play Store and is open to individual adult investors. To use CommSec Pocket, customers must have a CommBank Transaction account and a CommSec ID or NetBank ID.
Source: Company Press Release
