CommSec Pocket

Unlike the other simplified investing apps in this space, CommSec Pocket has a significant lag between the scheduled trade day for recurring investments and the day it actually takes the money from your account. So the trade goes through, then about 3-4 days later, they take your money. But they then hit you a $10 overdrawn fee if you don’t have enough money in your account on the random day they try collect it from your account.

There is now a new glitch - when you open the app the homepage shows only the overall balance but your individual stock balances are hidden. If you hit My Profile and go back to Home only then does the individual Finds display on screen.

When I press explore investments the app shuts down

Steps to reproduce 1. Click on Explore more investments Buttton at the bottom of the main screen 2. Explore investments screen appears 3. Go back to main screen 4. click left top ham burger menu 5. Side bar menu opens 6. Click on Explore investments 7. App crashes every time.

Out of all the investment platforms available to Australians, this would have to be by far the worst I’ve ever used. I literally got suspended for doing nothing wrong. No reason as to why. Just a bombardment of letters telling me I’m suspended from using my account. Utterly useless. P.S all my other investment portfolios are active and my accounts are …….. not suspended 🙄

Simple and easy to use! Great information and helpful tips on investing ETF! Nice small variety of ETF to choose from with good description.

I know this is a basic, stripped back version of a brokerage designed for the lowest common denominator. On that score, it’s great: buy and sell is easy and simple. Go one step further and things get a bit murky. The funds on offer include some that are geared towards dividends/income. The app doesn’t apply new shares from the funds’ Dividend Reinvestment Plans at the (official) issue price, meaning the average purchase price displayed is out of whack. This is obviously a result of the fact that there is no “pass-through” of information from the app to the share registry about your (pretty basic) preferences. Take a pretty common scenario: you want to re-invest all your dividends AND go completely “paper-free”. Simple premise, right? You’ll receive 4-7 physical letters to your address before everything works as you want it to. Enjoy the particularly ironic (physical) letter stating “Thank you for updating your preferences, we will now send all correspondence electronically”. Good on the basics, execution of the work-flow needs some work.

Please remove third party involvement with link

App is great and very easy to use and invest with, however linkmarket service and computer share holding companies that you must use are TERRIBLE, I have previous bad experience with link so I’m not surprised. This time I simply could not even log onto their websites to register my holdings or change preferences. It was simply beyond either company to get me logged onto their website or apps. I tried with different phones and laptops, spent hours deleting browser cache, swapping browsers, constantly emailing new links to change password, installing more verification software, spending hours on the phone in a cue, it was a nightmare. I have given up and sold all of my holdings, it was just to much hassle and was eating up all my free time. Don’t do it to yourself. Invest your money some other way.

Expensive and lack of investment options