Bell Direct vs CMC Invest
The biggest practical difference is cost structure. CMC Invest charges $0 brokerage on your first ASX buy each day up to $1,000 and free real-time market data, while Bell Direct charges 0.1% with a $5 minimum and $27.50/month for live data. Both are CHESS-sponsored with an individual HIN, so your shares stay in your name either way.
- ›Want a broker that holds a USD account so you can park and reuse US dollars without repeated FX conversion
- ›Trade larger ASX parcels where a flat 0.1% with a $5 minimum beats CMC's $11 minimum on bigger tickets
- ›Need bonds and managed funds alongside shares in the one account
- ›Want fractional US shares so you can buy a slice of a high-priced stock
- ›Prefer a broker backed by an ASX-listed parent (Bell Financial Group) with IPO access
- ›Want free real-time market data instead of paying $27.50/month
- ›Buy small ASX parcels regularly and want $0 brokerage on the first buy up to $1,000 each day
- ›Trade US shares and want 0% US brokerage with a razor-thin 0.006% FX spread
- ›Want access to 15+ global markets including the UK, Japan, Canada and Hong Kong
- ›Want authenticator-app 2FA, live chat support and structured education courses
Where they differ
| Fact | Bell Direct | CMC Invest |
|---|---|---|
| ASX brokerage | 0.1% of trade, $5 minimum | 0.001% of trade, $11 minimum, $0 on first buy up to $1,000/day |
| Market data fees | $27.50/month | $0/month |
| FX spread (AUD/USD) | 0.6% | 0.006% |
| USD account | Holds USD account | Does not hold USD account |
| Global markets | ASX and US only | ASX, US plus 15 other markets |
CMC Invest wins on cost and global reach; Bell Direct suits USD holders and bond or managed fund investors.
Common questions
How do Bell Direct and CMC Invest compare on asx brokerage?
Bell Direct: 0.1% of trade, $5 minimum. CMC Invest: 0.001% of trade, $11 minimum, $0 on first buy up to $1,000/day. CMC is far cheaper on small buys; Bell Direct's $5 floor wins on mid-size trades.
How do Bell Direct and CMC Invest compare on market data fees?
Bell Direct: $27.50/month. CMC Invest: $0/month. Bell Direct charges for live data that CMC gives away free.
How do Bell Direct and CMC Invest compare on fx spread (aud/usd)?
Bell Direct: 0.6%. CMC Invest: 0.006%. A 100x difference that compounds on every US trade.
When is Bell Direct the better choice over CMC Invest?
Pick Bell Direct if want a broker that holds a USD account so you can park and reuse US dollars without repeated FX conversion; trade larger ASX parcels where a flat 0.1% with a $5 minimum beats CMC's $11 minimum on bigger tickets; need bonds and managed funds alongside shares in the one account; or want fractional US shares so you can buy a slice of a high-priced stock.
When is CMC Invest the better choice over Bell Direct?
Pick CMC Invest if want free real-time market data instead of paying $27.50/month; buy small ASX parcels regularly and want $0 brokerage on the first buy up to $1,000 each day; trade US shares and want 0% US brokerage with a razor-thin 0.006% FX spread; or want access to 15+ global markets including the UK, Japan, Canada and Hong Kong.
Bell Direct or CMC Invest — what's the verdict?
CMC Invest wins on cost and global reach; Bell Direct suits USD holders and bond or managed fund investors.
Punch in your trade size and frequency. We'll do the full brokerage + FX + fees maths.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bell Direct | CMC Invest |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | Yes |
| US ETFs supported | Yes | Yes |
| Other markets supported | United Kingdom, Canada, Japan, Germany, France, Netherlands, Belgium, Spain, Switzerland, Sweden, Denmark, Norway, Singapore, Hong Kong, New Zealand | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | No |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 0.6% |
| FX spread (other currencies) | — | 0.6% |
| Holds USD account | Yes | No |
| Market data fees | $27.5/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $60 | $59.95 |
| Corporate action fees | Fail fee $110 or 0.11% daily for unsettled trades; corporate action handling generally pass-through via CHESS sponsorship | — |
| costs visible | ||
| ASX brokerage minimum | $5 | $11 |
| ASX brokerage percentage | 10% | 0.1% |
| ASX brokerage threshold | $25,000 | $1,000 |
| ASX free trade conditions | — | $0 brokerage on first ASX buy order per security per day for trades up to $1,000 (excludes margin loan settled trades and sells) |
| US brokerage minimum | US$0 | US$0 |
| US brokerage percentage | — | 0% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $15 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | $55 |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | CMC Markets Stockbroking Limited |
| AFSL number | 314,341 | 246,381 |
| Year founded | 2,007 | 1,989 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | CMC Markets plc (LSE: CMCX) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, Bank transfer (EFT), Direct credit | PayID, Bank transfer (EFT), BPAY |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-2 business days | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | — | No |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS | authenticator app |
| Customer support channels | phone, email, online forms | phone, email, live chat |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | Monday-Friday, business hours AET (approx 8am-6pm) |
| Education content | basic articles | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | Yes |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | — | Yes |
| Auto-invest sophistication | none | single asset |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | — | No |