How to Use Comsec to Buy and Sell Shares

In this blog post, I will show you how to use Comsec to easily buy and sell shares. Let’s get straight into it!

Registering a Comsec Account

Before we can start buying and selling shares on Comsec, we first need to register a Comsec account. Here are the steps to follow:

1. Go to the Comsec website and click “Join Now”.
2. Follow the three simple steps explained on the page:
   • Join Comsec and set up a CDIA account.
   • Take advantage of the current promo for 10 free trades before January 31, 2023.
   • Get access to trading insights with Comsex research tool.
3. Click “Get Started” to begin the application.
4. Answer the questions about being a Comset customer and having a Netbank client number.
5. Select your trading preference and the type of account you want to open.
6. Provide your personal details and choose to open a CDIA account.
7. Choose your tax residency and enter your tax file number if desired.
8. Give permission to provide your bank details to the share registry for dividend payments.
9. Complete the quick online ID check.
10. Review and submit your application.

Once your application is approved, you can log into your new Comsec account.

Buying a Stock on Comsec

To buy a stock on Comsec, follow these steps:

1. On the main page, familiarize yourself with the information and tabs available.
2. Use the search box to find the stock you want to buy.
3. View the stock’s current share price, bid, offer, open, high, low, and previous close.
4. Decide if you want to buy at the offer price or sell at the bid price.
5. Click the “Buy” button and follow the prompts to complete the purchase.

Remember to take your time and understand the information on the page to gain a better understanding of the global stock market.

The highest price that the share got during the day is called the high, and the lowest price is called the low. The previous close is the share price at the end of the previous day. The 52 week high and 52 week low are the highest and lowest prices the share has reached in the past year.

To buy shares, you can choose to buy them in quantity or by dollar value. With quantity, you can select the number of shares you want to buy. You can set a price limit or buy at market price. It is recommended to use the price limit to have more control over the purchase price.

For example, if the offer price is $87.50, you can set the price limit at exactly $87.50. If you choose to buy at market price, the system will buy at the best available price, which may be slightly higher than the offer price.

You can also set an expiry date for your buy order or select good for the day. The expiry date allows you to set a specific price and buy the shares within a month. The order estimate will show you the order cost, including brokerage fees.

If you prefer to buy based on the amount of money you have, you can enter the dollar value you want to invest. The system will calculate the number of shares you can buy with that amount, rounded down to the nearest unit you can afford.

Once you are happy with your buy order, you can proceed to the final page and submit the order. You will receive a confirmation email once the order goes through.

Comsec has a T+2 settlement, which means you don’t need to have the money in your account on the day of the purchase. You just need to have the money in your CDIA account two business days after the trade date on settlement day. Other Australian brokers may require the cash to be in your account before allowing you to buy.

To sell shares, you can search for the desired stock and click on the “sell” option. You can choose to sell in quantity or dollar value. Enter the number of units you want to sell and set a price limit, which can be the current bid price or a specific price. You can also set an expiry date or select “good for day”. Comsec shares are chess sponsored, meaning they are directly under your name.

Comsec offers other features such as the portfolio page, where you can see all the shares you own. There is also a watch list feature where you can track certain stocks or ETFs.

A watch list is a helpful tool for tracking the performance of various ETFs. However, you can also create a customized watch list to track specific stocks, such as the big four banks. To do this, simply click on “Add Watch List,” then click “Edit” and change the name to “Big 4 Banks.” From there, you can add the bank stocks one by one. If you don’t know the stock codes, you can type in the full name, and it will find it for you. For example, let’s enter “Westpac” and save it with the stock code “WBC.” Now you can track how the big four banks are performing on a daily basis. This feature is particularly useful for researching stocks in a specific sector.

Next, let’s move on to quotes and research. This page provides a summary of what has happened in the pre-market and during trading hours. It includes live data, so it will constantly change if the market is open. You can also view the post-market review, which summarizes the day’s events and stock performance. Additionally, you can explore different market sectors and access a table of all the buyers and sellers.

The “Announcement” tab shows important announcements from companies, such as dividend payouts. The “Charts” section displays the stock’s performance over a specified period, with the option to add or remove certain indicators. Distributions show dividend information, while performance and risk provide self-explanatory details. Lastly, the “Holdings” section visually breaks down the composition of a particular stock.

To fully explore these features, it is recommended to sign up for Comsec and familiarize yourself with all its functions. Please note that this video is not a recommendation to use Comsec, nor am I sponsored by them. I am simply providing this tutorial to help you navigate the platform. Always conduct your own research and make your own decisions when it comes to investing.