What is my trading limit?
When choosing to trade with CommSec, you acknowledge your responsibility to fulfil all settlement obligations as set out in CommSec’s Share Trading Terms and Conditions. This includes ensuring you have sufficient funds to pay for shares at the time an order is placed, and at the time an order is settled.
CommSec may provide you with a trading limit, which could allow you to place a buy order for Australian shares and other exchange traded products without an initial cash deposit. Most customers have access to an initial $5,000 limit which can be used to buy leading stocks. Within that limit, $1,000 can also be used for non-leading stocks. Our current list of leading stocks can be found here (non-leading stocks are any stocks not included on this list).
Remember that funds must be available in your settlement account by 8am on the morning of settlement, which is two (2) trading days after your buy order has been executed (T+2).
Your trading limit might increase or decrease depending on the balance of your linked Commonwealth Direct Investment Account (CDIA), the value of the shares you already own, and the value of any unsettled transactions or outstanding orders on your account.
Your CDIA
If you have a Commonwealth Direct Investment Account (CDIA) linked for the settlement of your trades, the available balance of your account (or a multiple of it) may be added to your trading limit.
Your shares
The market value of the shares you already own (or a multiple of it) may also be added to your trading limit. This applies to your registered CHESS holdings sponsored by CommSec. If you are CHESS sponsored with CommSec, you can view your holdings by logging in to your account and selecting “Portfolio” in the main menu.
Your unsettled transactions and outstanding orders
Your trading limit will decrease by the value of any unsettled buy transactions or outstanding buy orders on your account, but will generally include the value of any unsettled sell transactions on your account.
How do I increase my trading limit?
To increase your trading limit, you’ll normally need to deposit additional funds into your CDIA or transfer shares into your CommSec sponsored HIN, which is attached to your Commsec Share Trading Account.
How do I remove my trading limit?
If you no longer want access to a trading limit, you can call us to request that your trading limit be removed. If we remove your trading limit, you will generally only be able to place buy orders up to the value of the available balance of your CDIA.
We're here to help
For more information about your trading limit, please call us on 13 15 19 (or +61 2 8397 1206 if calling from overseas).
Disclaimer
We reserve the right to manage our level of risk associated with your trading and may revise an account trading limit at our discretion.
