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CommSec nears milestone,
Young investors lead the charge,
Mobile trades take hold.
CommSec nears 3 million users after digital investment platform surges 37% YoY
CommSec, the digital investment platform of the Commonwealth Bank of Australia, has seen new accounts lift 37 per cent year-on-year (YoY), bringing total users to almost 3 million.
According to CommSec data, investors under 40 make up nearly half of all CommSec’s customers, and 75 per cent of those on CommSec Pocket. Overall, 48 per cent of trades are now made via mobile.
The popularity of Commsec Pocket has been of particular note, with new accounts on the app up 50 per cent over the year to June 30. CommSec’s international trading platform has meanwhile lifted 96 per cent year-on-year.
“The growing popularity of our international trading platform and CommSec Pocket points to investor demand for a simple, accessible, low-cost trading experience and we’re pleased to see significant customer growth across both platforms over the past year,” said CommSec Executive general manager James Fowle.
“With investors under 40 making up nearly half of our 2.9 million customers, CommSec’s low-cost, intuitive and educational investment platform has been built to meet the needs of the next generation of investors. Likewise, our investment in delivering a market-leading mobile experience continues to gather momentum as trading via this channel grows across our customer base."
Female investors now make up 38 per cent of CommSec accounts, with data indicating that they were more likely to invest in the ASX200 than their male counterparts over the past year.
Additional insights from CommSec data revealed the five most traded domestic shares by value were: BHP Group Ltd (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA), Fortescue Ltd (ASX: FMG), Woodside Energy Group Ltd (ASX:WDS), Pilbara Minerals (ASX:PLS).
The five most traded international shares by value were: NVIDIA Corp (NASDAQ:NVDA), Tesla Inc (NASDAQ:TSLA), ProShares UltraPro QQQ (NASDAQ:TQQQ), Apple Inc (NASDAQ:AAPL), MicroStrategy Inc (NASDAQ) MSTR.
5 August 2024 was the highest value trading day since 14 June 2022, coinciding with a 3% drop in the S&P 500 index following a disappointing U.S. employment report.
