Fees and pricing
CMC Invest is the cheaper option for many investors. Its listed brokerage is $0 for the first ASX buy under $1,000 per security per day, then $11 or 0.10%. CommSec charges $5 up to $1,000, $10 up to $3,000, $19.95 up to $10,000, $29.95 up to $25,000 and 0.12% above $25,000. CommSec also lists no ongoing account-keeping fees, while CMC Invest lists $0 inactivity/holding fees in the supplied data. On fees alone, CMC Invest has the clearer edge for lower-cost trading.
Platform and app experience
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- Pepperstone - Top Australian broker - Read our review
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CMC Invest looks stronger for active, feature-seeking investors, with 45,000+ shares and ETFs and access to 15 international markets plus ASX. It also lists options, warrants and CFDs through CMC Markets. CommSec is still broad, with Australian shares, ETFs, warrants, options, fixed income and international shares, plus mobile and web trading, but its product universe is more domestic in focus with 2,000+ Australian companies listed. If your priority is range and market reach, CMC Invest is more expansive; if you want a traditional all-round Australian platform, CommSec is the simpler fit.
Trust and regulation
CommSec has the stronger trust story for many Australian investors because it is operated by Commonwealth Securities Ltd, AFSL 238814, and is an ASX, Cboe and ASX Clear/Settlement participant. CMC Invest is also a serious market participant, with CMC Markets Stockbroking Ltd, AFSL 246381, and CHESS-sponsored ASX investing, plus ASX, SSX and Chi-X/Cboe participation. The difference is less about legitimacy and more about brand feel: CommSec is the bank-broker, while CMC Invest is the lower-cost market platform.
Stocks
For share trading, CMC Invest is the better value pick if you want cheaper entry brokerage and broader exchange access. For ETFs, both platforms are usable, but CommSec stands out for investors who want a mainstream Australian broker with real ETF access and no ongoing account-keeping fees. For options and listed derivatives, both have relevant products, though CMC Invest goes further with CFDs, while CommSec includes ASX ETOs, warrants and margin lending. For investors who mainly trade Australian shares, CommSec is the more familiar domestic choice; for those who want to stretch beyond Australia, CMC Invest is the stronger fit.
Final decision
On a head to head, CMC Invest wins on price and market breadth, whilst CommSec still makes sense if you want a best-known Australian bank-broker with a trust-first profile, clear fees and broad domestic product coverage. In practice, CMC Invest suits cost-conscious traders and investors who want more exchange access, while CommSec suits buyers who are happy to pay more for a familiar, bank-backed Australian platform.
Such is the landscape in the Australian market in 2026 that it is no longer a case of having to choose between just one or two top brokers. There are a vast array of strong local options out there on the market for share dealing, and we have put together a detailed comparison of twenty of the top rated brokers for stocks you may want to see in addition to these two leaders.
Related content
Lowest cost brokers: Helpful next step if you want to compare CommSec and CMC Invest against more Australian brokers.
Stock trading apps: Useful if you are intending to do much of your share trading on mobile rather than desktop.
ETF brokers in Australia: Relevant if you are comparing ETF trading options and recurring investing setups.
FAQ
Which is cheaper, CommSec or CMC Invest?
CMC Invest is cheaper, with $0 first ASX buy under $1,000 per security per day, then $11 or 0.10%. CommSec charges $5 up to $1,000, $10 up to $3,000, $19.95 up to $10,000, $29.95 up to $25,000 and 0.12% above $25,000.
Which broker has more market access?
CMC Invest lists 15 international markets plus ASX, while CommSec’s supplied data focuses on Australian shares plus international shares.
Which platform is better for Australian shares?
CommSec covers 2,000+ Australian companies and suits investors who want a mainstream domestic broker. CMC Invest is better if you want lower-cost ASX trading.
Does either broker charge ongoing account-keeping fees?
CommSec lists no ongoing account-keeping fees. CMC Invest lists $0 inactivity/holding fees in the supplied data.
Which broker is better for options and listed derivatives?
Both offer relevant products. CommSec lists ASX ETOs, options, warrants and margin lending, while CMC Invest lists options, warrants and CFDs through CMC Markets.
