What are Recurring Investments and how do I access them through CommSec?
Recurring Investments allow you to automatically invest an amount into an international security based on a recurring investment schedule that suits you. You can set up Recurring Investments for international shares by logging into the CommSec website and launching the International Shares Platform.
How do I set up Recurring Investments on my International Shares Account?
To set up Recurring Investments:
- Navigate to Portfolio to launch your International Shares Account
- Navigate to Trade > Recurring Investment
- To create a recurring investment select 'Create Recurring Investment'
Where can I see my Recurring Investments?
One you've set up your Recurring Investments, you can view them by logging into CommSec and navigating to your International Shares Account. Then, head to Trade > Recurring Investments.
How do I cancel a Recurring Investment order?
- You can cancel a Recurring Investment order in the International Shares Account platform
- Navigate to Trade > Recurring Investments
- Click the “X”, which will prompt you to confirm your cancellation with a pop-up message.
What securities can be used for Recurring Investments?
Recurring Investments are available for U.S and European stocks/ETFs for which our International Custodian supports fractional trading. An error message will appear on the Recurring Investment Order Ticket if the security you are requesting to invest in is not supported.
Is there a minimum amount I have to invest when setting up a Recurring Investment?
Yes, the minimum amount for a Recurring Investment is 10 for all currencies (e.g., $10 USD in the US or £10 in the UK), except for Swedish Krona (SEK), which has a minimum of 100kr. The Recurring Investment Order Ticket will display the minimum investment amount if you enter a value less than this.
Do I pay brokerage on a Recurring Investment?
Yes, brokerage is applied to all Recurring Investment transactions with the brokerage added on top of the amount specified on your Recurring Investment Order Ticket.
Refer to CommSec's International Shares rates and fees for a breakdown of the brokerage rates charged on each CommSec international market.
Will I receive fractional holdings?
Yes. As you are entering a value order (specifying the value you wish to regularly invest), you will receive a combination of whole and fractional shares equivalent to the specified value of your order.
How often can a Recurring Investment order occur?
You can nominate the start date and schedule your Recurring Investment action to occur as frequently as you wish. (e.g., weekly, monthly, quarterly).
What happens if the market isn’t open on my scheduled Recurring Investment date?
If the market is closed, the Recurring Investment will be rescheduled for the next open market date. If the scheduled date doesn't exist (e.g., February 29th), the last trading date of the month will be used.
What price will my order execute at?
The price the order will execute at is entirely dependent on the market activity in the security. Orders are filled as a Market Order using a Volume-Weighted Average Price (VWAP) at market open on scheduled purchase dates. All customers with Recurring Investments in the same security on the same date receive the same average price.
What happens if there is a partial fill on my Recurring Investment?
If your order is unable to be fully transacted on the scheduled date, you will receive the amount in the market that was able to be traded. The remaining order volume for the portion that did not transact will be added to the next scheduled order.
What happens if I don’t have enough money in my CommSec International Wallet?
You must ensure you have sufficient money in your CommSec International Wallet prior to the market open of your scheduled Recurring Investment.
If there are insufficient funds in your Wallet, the Recurring Investment will not occur. The order will be re-attempted on the next scheduled occurrence, and if funds there are still insufficient funds, the recurring order will be cancelled.
What happens if my Recurring Investment involves a security that is no longer available?
Recurring Investments involving securities that are no longer eligible will be cancelled. This may occur if the security is:
- No longer supported for fractional trading;
- Going through a reverse split or merger; or
- Delisted
You are able to review any of you cancelled and/or expired recurring investments by navigating to Trade > Recurring Investments.
