Share Trading comparison
Bell Direct vs Pepperstone
Bell Direct and Pepperstone look like competitors on paper, but they serve completely different jobs. Bell Direct is a CHESS-sponsored broker for buying and holding real ASX and US shares. Pepperstone is a CFD provider — you never actually own the underlying asset, and it doesn't support real ASX or US share trading at all.
Choose
Bell Direct
if…
- ›You want to buy and hold real ASX shares under your own HIN with CHESS sponsorship
- ›You need a broker that supports SMSFs, trust accounts, and minor accounts
- ›You want access to IPOs, managed funds, bonds, and dividend reinvestment plans
- ›You need a proper CGT report and tax statement for end-of-year lodgement
- ›You're comfortable paying $27.50/month for live market data and a $5 minimum brokerage on ASX trades
Choose
Pepperstone
if…
- ›You want to trade CFDs on international indices, forex, commodities, and shares across US, UK, European, and Hong Kong markets
- ›You want zero monthly fees, zero market data fees, and a $0 minimum deposit to get started
- ›You prefer paying via PayPal, Apple Pay, credit card, or Skrill — not just bank transfer
- ›You want a demo account to practise trading strategies before committing real money
- ›You need 24/5 customer support with live chat and authenticator-based 2FA
Where they differ
| Fact | Bell Direct | Pepperstone |
|---|---|---|
| What you actually own | Real shares under your HIN (CHESS-sponsored) | CFD derivatives — you never own the underlying asset |
| ASX share trading | Supported — $5 min brokerage, 0.1% over $25k | Not supported — Pepperstone does not offer real ASX shares |
| Market data fees | $27.50/month | $0/month (free real-time data) |
| Account types | Individual, joint, company, trust, SMSF, kids/minor | Individual and joint only — no SMSF or minor accounts |
| Deposit methods | BPAY, bank transfer, direct credit | PayID, BPAY, bank transfer, debit/credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill |
Verdict
Choose Bell Direct for real, CHESS-sponsored Australian share investing; choose Pepperstone if you want CFD trading with zero fees and global market access.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bell Direct | Pepperstone |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | — |
| Individual HIN | Yes | — |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | No |
| Kids / minor account | Yes | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| US shares supported | Yes | No |
| US ETFs supported | Yes | No |
| Other markets supported | US, UK, DE, FR, HK, BE, CH, DK, NO, SE, FI, IE, PT, ES, AT, AU | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | No |
| CFDs supported | No | Yes |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 50% |
| FX spread (other currencies) | — | 50% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | — | No |
| Market data fees | $27.5/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $60 | — |
| Corporate action fees | Fail fee $110 or 0.11% daily for unsettled trades; corporate action handling generally pass-through via CHESS sponsorship | Not applicable — Pepperstone offers share CFDs only, not real shares. Clients have no entitlement to rights issues, SPPs, takeover offers or shareholder voting. Dividend adjustments are passed through as cash entries on share CFD positions (credited on longs, debited on shorts, with franking credits not passed through). |
| costs visible | ||
| ASX brokerage minimum | $5 | — |
| ASX brokerage percentage | 10% | — |
| ASX brokerage threshold | $25,000 | — |
| US brokerage minimum | US$0 | — |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | Pepperstone Group Limited |
| AFSL number | 314,341 | 414,530 |
| Year founded | 2,007 | 2,010 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | Privately held. Majority owner FX Group Holdings (Fiona Lock, CEO Tamas Szabo and Andrew Defina) acquired the 60% stake previously held by CPE Capital (formerly CHAMP Private Equity) in 2018; founders Owen Kerr and Joe Davenport retain the remaining 40%. |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, Bank transfer (EFT), Direct credit | PayID, BPAY, bank transfer, debit card, credit card, PayPal, Apple Pay, Google Pay, Neteller, Skrill |
| Settlement period | T+2 (ASX), T+1 (US) | N/A (CFDs are not settled — positions are open derivative contracts marked-to-market continuously, with overnight swap charges in lieu of settlement) |
| Withdrawal time | 1-2 business days | Up to 2 business days for cards, PayID, BPAY and domestic bank transfer; up to 1 business day for PayPal/Neteller/Skrill. |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | — | Yes |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS | authenticator |
| Customer support channels | phone, email, online forms | phone, email, live chat |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | 24/5 (Monday morning AEST to Saturday morning AEST), with 18 hours coverage on weekends; Melbourne-based Australian support team available during AEST business hours. |
| Education content | basic articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| Distribution component breakdown | Yes | No |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | No |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | — | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | — | Yes |