Australian Share Trading Account
As previously advised, A SMSF is permitted to invest in Australian Shares and Other Listed Securities (e.g. ETFs, Bonds, Options, Warrants, LICs, LITs, etc). Clients of ESUPERFUND are permitted to use any Broker to invest in Australian Shares and Other Australian Listed Securities for their SMSF. To simplify the Australian Share Trading Account Application Process documentation to establish a Commsec Share Trading Account (Commsec) is included with the documentation forwarded to you when you submit your online application to establish an SMSF. The CommSec Broker option is discussed in detail below.
CommSec is Australia's largest Online Share Broker having commenced in 1995. CommSec is owned by the Commonwealth Bank and has in excess of 1 million clients executing thousands of trades daily.
BUYING CHESS Sponsored ASX Listed Securities
If you choose CommSec as your Broker when establishing your SMSF, then all CHESS Sponsored ASX Listed Security Purchases will need to be made using the CommSec Trading Platform. When you BUY ASX Listed Securities, the Trade will settle from the funds in your Commonwealth Bank Accelerator Cash Account (as detailed here). Therefore you must ensure that you have enough cleared funds in your Transaction Bank Account to cover the cost of the Trade.
SELLING CHESS Sponsored ASX Listed Securities
When you SELL ASX Listed Securities using the CommSec Trading Platform, the settlement proceeds will be automatically deposited into your Transaction Bank Account.
FREE Equities Research
CommSec provides its clients with valuable Equities and Research Information, absolutely FREE. For more information, please click here.
FREE Live Data
Live Pricing Data is absolutely FREE with CommSec. This is a major saving to you compared to other Discount Brokers who only provide 20 minute delayed Share Price Data and charge if you actually require Live Data, typically in excess of $100 annually.
Fees and Charges
For full details on the Fees and Charges applicable under the CommSec Trading Platform click here.
CommSec Trade Confirmations
When you execute a trade using the CommSec Trading Platform, trade confirmations will be forwarded via email and post for each trade. Confirmations can also be viewed and downloaded from the Trade Confirmations page in the CommSec Login Area. Please note that CommSec requires that all Trade Confirmations are mailed to you when you execute a trade. There is no fee for mailed Trade Confirmations for ESUPERFUND clients.
Is Trading with CommSec Safe?
Yes. All Shares purchased through CommSec are CHESS Sponsored and owned in the name of your SMSF under its unique HIN. This is a very important point and gives you peace of mind that your SMSF is the direct owner of all Shares purchased. Neither ESUPERFUND nor CommSec own any of your SMSF Shares and have absolutely no access to your Shares or in fact any SMSF Asset. So in the very unlikely event ESUPERFUND or CommSec cease to operate or become insolvent all your SMSF Assets including Share Holdings are totally protected because your SMSF is the direct owner of the Assets.
Straight Through Processing
All Trades executed through the CommSec Trading Platforms are executed using Straight Through Processing (STP). Straight Through Processing is where your order is sent directly to the ASX Market, without any human intervention. Some online brokers use a system whereby your order is sent to a dealer who then has to approve or reject it and manually enter it into the market. Obviously in times of market turbulence, this could cause significant delays in getting the order on the market. The CommSec Trading Platform approves or rejects the order and places it directly on the market.
Accessing Information by ESUPERFUND
At the end of each financial year, CommSec will send ESUPERFUND an annual data file of all your SMSF Trades and Transactions. This enables our office to attend to your SMSF's annual compliance obligations. No records are required from you each year as we already have access to the data. It is important to understand that only electronic data files are provided to ESUPERFUND. As detailed above we have absolutely no access to your Trading Platform and cannot actually login to your Trading Account to access the required data.
CommSec Account Queries
If you have any queries about your SMSF CommSec Account please contact CommSec on 13 15 19. Please do not contact ESUPERFUND directly in relation to queries about your SMSF CommSec Account as unfortunately we will be unable to assist you with your queries.
To login to the CommSec Trading Platform click here.
Product Disclosure Statement
To view the CommSec Product Disclosure Statement including Terms and Conditions click here.
No financial product advice or recommendation
No Advice Express or Implied: It is important to understand that ESUPERFUND has not taken into account any particular investor's objectives, financial situation or particular needs. ESUPERFUND does not provide financial product advice or recommend any financial products either expressly or implied. ESUPERFUND expressly states that it does not recommend, represent as suitable, or endorse any financial product or service available through ESUPERFUND. This applies in relation to the Commsec Share Trading Account. ESUPERFUND does not advise or recommend that this product is suitable to a particular investor’s financial requirements or needs in relation to their SMSF. Any information provided in relation to the Commsec Share Trading Account is factual information only about the operation of the account and how data is made available to ESUPERFUND. Accordingly you should read the disclosures relating to the Commsec Share Trading Account before making any decision about whether the Commsec Share Trading Account is suitable for your SMSF needs. We also recommend that you should seek professional advice from a financial adviser before making any decision to use the Commsec Share Trading Account for your SMSF.
Set up your SMSF with ESUPERFUND Today!