CommSec Pocket is a micro-investing platform commonly known as a pocket app where people can start mobile trading with a small sum of money. It is suitable for beginners and requires a minimum investment of $50 AUD. In this post, we will cover all the aspects, such as app review in general purpose, i.e. safe or not, fees, ETF, pros, cons, etc.
Generally, this app is for newbies who can’t bear to invest in the stock market. Brokerage is charged $2 per trade up to $1,000 and 0.20% for trades above $1,000. But it does not charge any account-keeping maintenance fees.
It provides a safe and pocket-friendly investment platform for retail investors, created by the CommBank of Australia in 2017. The app offers a variety unit of ETFs that retail investors can trade with ease.
CommSec Pocket App – An overview
Commsec Pockets is an investment app that is excellent for beginners to start investing. It was launched by the Commonwealth Bank of Australia in 2017. To start investing with CommSec Pocket, you need to buy units in a bundle of assets, called an Exchange-Traded Funds (ETF). You can start investing with CommSec Pocket for only $50 AUD.
| App Name | Commsec Pocket App |
| Country | Australia |
| Launched year | 2017 |
| Type of Application | Investing |
| Minimum amount required | $50 AUD. |
| Targeted users | Initial Investors |
| Availability (platform) | Android and iOS |
| Brokerage charge per trade (up to $1000) | $2 |
| Official website | www.commbank.com.au |
How does CommSec Pocket help you to Invest?
First of all, download the Commsec Pocket app from the Google Play store or iOS App store. You have to create an account and complete the sign-up process. Enter a Commsec ID or Netbank ID to complete the sign-up. You can also sign-up online through the official website of Commsec. Now, Sign in with your Commsec ID, and the next steps for investment are given below:
- After sign in, you will get seven options of ETFs and choose from.
- You can buy any type of unit of ETF (Exchange-Trade Funds) according to your budget and start your investing journey.
- So to buy the ETF, you have to pay fees plus the unit price of the ETF.
- You need to deposit money in your transaction account into Commsec Pocket, you are ready to start investing.
- So, choose the ETF and pay. On successful payments, your ETFs will be showing in your CommSec Pocket account.
This is the process, Commsec Pocket App will help you to invest.
List of Commsec Pocket App ETF Picks
There are seven choices of ETFs in the Commsec Pocket app, mentioned below:
- Aussie Top 200: You will have the opportunity to become a stake in the top 200 largest Australian companies.
- Emerging Markets: Here, you will get access to invest in over 800 fast-growing companies in native economies such as India, China and Taiwan.
- Global 100: Brings you in contact with nearly 100 global companies.
- Health Wise: You can invest with nearly 100 companies that are focused on medical innovation.
- Sustainability Leaders: Around 200 companies are screened to avoid risky activities so that you can invest in exposure to leading stable and reputed companies.
- Tech Savvy: Gives you to exposure nearly 100 of the top tech and non-financial companies listed on the NASDAQ.
- Aussie Dividends: Focuses on more than 30 companies that are known to pay above-average dividends in Australia.
ETFs vs Shares
Exchange Traded Funds (ETFs) are traded on a stock exchange like shares. But, there are some fundamental differences between ETFs and shares. An ETF is a basket of companies’ assets, whereas a stock represents an investment in just one company.
How To Sell ETFs?
When you are buying investments in ETFs. You can place an order to sell your investment. The sale will appear when the stock market is open on trading days. You will receive the proceeds in your bank account within two business days of the sale.
Pros and Cons
| Pros | Cons |
|---|---|
| CommSec Pockets is easy to use and you can start to invest in ETF | You can only invest in ETF, but not directly in shares |
| Low-cost transaction fees of up to $1000 | You can select only from seven themed ETFs |
| Almost risk-free, as it offers a micro-investment platform | All stock market investments come with market risk |
| You can invest as little as $50 | Slightly higher minimum investment than other apps |
| There is no charge to keep the account running | It takes time to withdraw funds |
| You can monitor your investment through this app | Fluctuations in exchange rates can affect your investments as well |
Is it safe to invest through Comsek Pockets?
Commsec Pockets is considered a secure app sponsored by CHESS. If you buy an ETF using this app, you are a legal shareholder. There is no investment that promise provides a 100% return, volatility is always there, and the stock market fluctuates.
Investing in stocks can be risky in the long run but investing through this type of mini or micro-investment app is almost safe and also gives good returns over time.
Fees
There are no charges for ongoing account-keeping fees, but there will be other charges and fees in some cases. They will debit your account 2 days after you buy, this is known as a T+2 settlement.
If you have insufficient funds, then they will charge a late settlement fee of $10. They will charge $2 each time you invest or sell up to $1,000 and 0.20% of the trade value for more than $1,000.
FAQs
A: Yes, it is a micro-investing platform.
A: The minimum investment amount is $50.
A: Yes, it is an almost safe platform for investors.
Conclusion
CommSec Pocket App is a mobile platform for beginners to invest in ETFs. It is a micro-investment app and has a lot of benefits for investors as it is almost risk-free. Investors can start investing with just $50 and it only charges $2 per transaction. Therefore, it can be a great app for investors looking to understand Exchange Traded Funds (ETFs) in the beginning.
