Bell Direct vs CMC Invest
The biggest difference between Bell Direct and CMC Invest is how they handle costs. CMC Invest offers $0 brokerage on ASX buys up to $1,000 per security per day, plus free US trades and zero market data fees. Bell Direct charges a flat $5 minimum on ASX trades and $27.50/month for live data, but gives you CHESS sponsorship with a personal HIN and fractional US shares.
- ›You want CHESS-sponsored ownership with your own HIN — Bell Direct is a true CHESS broker
- ›You want to buy fractional US shares, which Bell Direct supports but CMC Invest doesn't
- ›You need access to bonds, IPOs, and managed funds in one place — Bell Direct covers all three
- ›You're okay paying $27.50/month for live market data and want phone trade support (at $60 per trade)
- ›You want zero brokerage on ASX trades up to $1,000 per security per day — CMC Invest's free-trade offer is unmatched
- ›You trade US stocks regularly and want $0 US brokerage with a tiny 0.006% FX spread (vs Bell Direct's 0.6%)
- ›You want free real-time ASX market data with no monthly fee
- ›You trade across global markets — CMC Invest covers 17 countries including the UK, Japan, and Europe
- ›You prefer authenticator app 2FA and live chat support over Bell Direct's SMS-only 2FA
Where they differ
| Fact | Bell Direct | CMC Invest |
|---|---|---|
| ASX brokerage minimum | $5 | $11 (or $0 on first buy per security per day up to $1,000) |
| US brokerage | $0 but 0.6% FX spread | $0 with 0.006% FX spread |
| Market data fees | $27.50/month | $0/month |
| Fractional US shares | Yes | No |
| Off-market transfer fee | $55 | $0 |
Choose Bell Direct for CHESS ownership and fractional US shares; choose CMC Invest for near-zero trading costs and global market access.
Common questions
How do Bell Direct and CMC Invest compare on asx brokerage minimum?
Bell Direct: $5. CMC Invest: $11 (or $0 on first buy per security per day up to $1,000).
How do Bell Direct and CMC Invest compare on us brokerage?
Bell Direct: $0 but 0.6% FX spread. CMC Invest: $0 with 0.006% FX spread.
How do Bell Direct and CMC Invest compare on market data fees?
Bell Direct: $27.50/month. CMC Invest: $0/month.
When is Bell Direct the better choice over CMC Invest?
Pick Bell Direct if you want CHESS-sponsored ownership with your own HIN — Bell Direct is a true CHESS broker; you want to buy fractional US shares, which Bell Direct supports but CMC Invest doesn't; you need access to bonds, IPOs, and managed funds in one place — Bell Direct covers all three; or you're okay paying $27.50/month for live market data and want phone trade support (at $60 per trade).
When is CMC Invest the better choice over Bell Direct?
Pick CMC Invest if you want zero brokerage on ASX trades up to $1,000 per security per day — CMC Invest's free-trade offer is unmatched; you trade US stocks regularly and want $0 US brokerage with a tiny 0.006% FX spread (vs Bell Direct's 0.6%); you want free real-time ASX market data with no monthly fee; or you trade across global markets — CMC Invest covers 17 countries including the UK, Japan, and Europe.
Bell Direct or CMC Invest — what's the verdict?
Choose Bell Direct for CHESS ownership and fractional US shares; choose CMC Invest for near-zero trading costs and global market access.
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 | $0 |
| 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 |