CBA launches CommSec Pocket

Yeah fair enough, I guess thats where you would weigh up your options to see what suits you better

 

Its aimed at people that can't save the $1000 to begin with.
If they could save $1k and still use this app they would be saving $8 to $18, if you do it every month, that's $100-$200 saved a year as opposed to $1000 a month on other platforms.

 

It was more a comment that the options other than IOZ are relatively high fee. Whereas they could add a low fee global ETF. In that case it would be a simple choice for me. Both IOZ and IWLD and just work out the percentage of each.

 

I downloaded app and purchased the asx 200,the dividend etf, emerging markets and the tech. very easy to use, I'm a fan, as long as your trade is $200 or more it's lower cost than commsec itself.
Smart by cba, appealing to those who would be buying super small parcels and get gouged by brokerage. Alternatively, like anything if your disciplined and have run the numbers it's a handy little app.
I wonder if in time there will be other etf choices, ie vanguard.

 

While the idea sounds good, I am not sure I would invest through this given I already have a separate commsec account and HIN. Seems like it would just create more paperwork.
Any idea h ow this is handled on the platform?

But great for those who would otherwise find it too hard to approach.

 

On the surface it would appear that it is a different ploy with a different target audience to the products that are already available.

 

Think this is a great idea. Just wish they had some more ETFS to choose. IOZ is the only decent low fee option. Still using it though.

 

How about using this for kids investing seeing as how term deposits are in the gutters at 1.8% and U-Bank, 86 400 etc are at 2,5%

 

I'm thinking about using this too, I like the simplicity. Anyone else using this product?

 

I recently set up an account. Very easy to do, I didn't even need to visit a branch as it can all be done online, even for a non-CBA customer like me. Had to open a CBA savings a/c first though. And my timing was impeccable- saw a 2% fall the very first day. Serves me right for buying shares in October

Early days investment wise but the product itself has a neat little app and gets a thumbs up from me.

 

wonder why pocket use IOZ instead of A200 as the ETF which has cheaper fee 0.07% vs 0.09%

 

?? IOZ is just as good surely? It would be based on whatever agreement Commsec forged with iShares

 

@PandS @DoggaPP

Easy one, IOZ unit price is cheaper which suits this app

 

It shows very neatly on your commsec account under its own HIN - very neat and tidy.

 

Roughly speaking, Pocket is cheaper than the bulk of platforms up to purchases of $5000. It certainly fills that 'behavioural' gap.
The only stock out of the available line-up of the 7 I would buy is IOZ.
Would be near perfect for my needs if they added IWLD.

 

I set it up during the week and purchased $1k of IOZ. It was all very easy and sensible, would highly recommend for a new investor starting out and wanting to use regular savings to purchase into equities. We use nabtrade for purchases in my wife’s name, saving up to $5k then buying for $15 a trade.

I might keep using pocket for some regular fortnightly investing in mine as well now that my wife is back to the same tax rate. IOZ for now, maybe IOO and will look into IXJ in more detail to understand it better.

 

TBH, I think IOZ is the only one that interests me there. the MERon the others is a bit steep and they may not be the best available necessarily.

 

Anyone using pocket?

Micro investing: the good, the bad and the ugly

 

As in "Get your hands out of my....?"

 

I find the interface and useability excellent. Fills a good investing gap when you have between $1000 and $5000 to invest.

I am buying parcels of IOO