I can't believe they expect 0.55% for every buy and sell transaction. Such a rip off. Imagine day trading multiple times a day with say 100K for example. $550 in $550 out, plus brokerage
They do have a 2nd option where you can convert AUD into US ONCE but then it must stay in that currency. You can only trade US shares, unless you want to convert back to AUD for another 0.55% to buy ASX shares again. Plus if you choose that 2nd option to convert AUD to US once and keep it as USD, then they charge more brokerage than the first option. That sucks. Bloody ripoff Commsec
I haven't had time to research brokers yet, but hopefully someone already knows one with much cheaper fees, especially if you can stay in AUD and trade either US/AU stocks at will.
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