Commsec used to provide cheap brokerage fees and quick transactions - that was until about Sept 2024. Now, anytime a trader wants to process a trade using SRN (not CHESS ownership: HIN), it is IMPOSSIBLE to lodge a SELL ORDER online because there is no way to enter the holder's SRN. What is worst, the trader has to phone Commsec (only between 8am and 6pm), wait to be connected with a broker, complete the identification verification process and then tell the broker the Sell order information and then wait for the Sell order to be verified and then complete the confirmation Script: making it totally impossible to get the "current" market price. Commsec explained this was due to an increased number of scams - it is very disappointing that the bad effects for a few have now completely adversely affected the previous quick (and normally effective) processes for the many!
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It offers a telephone based brokerage service and advisory service, though its Internet trading platform constitutes the vast majority of its business.
