The online platform provides an avenue for 2.7 million CommSec customers to trade in international markets, including the United States, Canada, Japan, and the United Kingdom.
The platform is initially available through the CommSec website, with new features allowing for fast account set-up, access to stock quotes, funds transfer, and online trading.
There are plans, however, to integrate the service through the CommSec mobile app.
Brokerage rates for the service start at USD$5 for US equities.
CommSec executive general manager Richard Burns said the launch of the platform is a move to meet the growing appetite of investors for foreign trading.
“The recently published ASX 2023 Australian Investor Study shows more Australians are investing directly in international shares than ever before,” he said.
“International share trading is particularly popular with younger investors who comprise over half our new account openings, so we expect our new platform will be really well received.”
CommSec’s announcement rivals the recent move by Sharesies to roll out a subscription service for share trading starting at $5 a month.
CommSec drops fees for Australian equities trading
CommSec recently rejigged the fee structure for brokerage services.
Brokerage fees on trades under $1,000 will be reduced from $10 to $5.
Meanwhile, higher value trades will have a more competitive tiered pricing — for trades between $1,000 and $3,000, the fee is reduced to $10. Previously, trades of above $1,000 had a flat rate of $19.95.
Mr Burns said lowering local brokerage fees will allow more Australian investors to trade on both the Australian and international share markets.
“With financial pressures increasing for many, we’re pleased to be supporting the next generation of investors with both value and the recognised functionality of Australia’s leading online broker,” he said.
Need help with a home loan?