Bell Direct vs Superhero
The biggest difference between Bell Direct and Superhero comes down to ownership structure. Bell Direct is a CHESS-sponsored broker that gives you your own HIN, meaning you hold ASX-listed shares directly in your name. Superhero uses a custodian model, so the broker holds legal ownership of your shares on your behalf — a distinction that matters for control, voting rights, and speed of transfers.
- ›You want full CHESS sponsorship with your own HIN so ASX shares are registered in your name
- ›You trade options, managed funds, or bonds — Bell Direct supports all three; Superhero supports none
- ›You need phone trading or corporate action handling through CHESS sponsorship
- ›You want joint accounts, kids/minor accounts, and trust structures alongside standard individual accounts
- ›You're comfortable paying $27.50/month for market data and a $5 minimum ASX brokerage for the security of direct ownership
- ›You want the lowest possible ASX brokerage — $2 flat up to $20,000 vs Bell Direct's $5 minimum
- ›You want zero monthly fees and free real-time ASX data — Superhero charges nothing for either
- ›You plan to invest small amounts regularly, with a $100 minimum initial deposit and auto-invest/DCA capability
- ›You're happy with a custodian model and don't need your own HIN, voting rights, or DRP
- ›You trade US stocks and want a tiny FX spread of 0.005% — far cheaper than Bell Direct's 0.6%
Where they differ
| Fact | Bell Direct | Superhero |
|---|---|---|
| ASX brokerage minimum | $5 | $2 |
| FX spread (AUD/USD) | 0.6% | 0.005% |
| CHESS sponsorship model | CHESS (individual HIN) | Custodian (no HIN) |
| Monthly market data fee | $27.50/month | $0/month |
| DRP (dividend reinvestment) | Yes | No |
Choose Bell Direct for direct CHESS ownership and a full product suite; choose Superhero for rock-bottom costs and simplicity.
Common questions
How do Bell Direct and Superhero compare on asx brokerage minimum?
Bell Direct: $5. Superhero: $2.
How do Bell Direct and Superhero compare on fx spread (aud/usd)?
Bell Direct: 0.6%. Superhero: 0.005%.
How do Bell Direct and Superhero compare on chess sponsorship model?
Bell Direct: CHESS (individual HIN). Superhero: Custodian (no HIN).
When is Bell Direct the better choice over Superhero?
Pick Bell Direct if you want full CHESS sponsorship with your own HIN so ASX shares are registered in your name; you trade options, managed funds, or bonds — Bell Direct supports all three; Superhero supports none; you need phone trading or corporate action handling through CHESS sponsorship; or you want joint accounts, kids/minor accounts, and trust structures alongside standard individual accounts.
When is Superhero the better choice over Bell Direct?
Pick Superhero if you want the lowest possible ASX brokerage — $2 flat up to $20,000 vs Bell Direct's $5 minimum; you want zero monthly fees and free real-time ASX data — Superhero charges nothing for either; you plan to invest small amounts regularly, with a $100 minimum initial deposit and auto-invest/DCA capability; or you're happy with a custodian model and don't need your own HIN, voting rights, or DRP.
Bell Direct or Superhero — what's the verdict?
Choose Bell Direct for direct CHESS ownership and a full product suite; choose Superhero for rock-bottom costs and simplicity.
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 | Superhero |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | custodian |
| Individual HIN | Yes | No |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| 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 | ||
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | Yes | — |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 0.5% |
| Holds USD account | Yes | 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 | — |
| costs visible | ||
| ASX brokerage minimum | $5 | $2 |
| ASX brokerage percentage | 10% | 0.01% |
| ASX brokerage threshold | $25,000 | $20,000 |
| US brokerage minimum | US$0 | US$2 |
| US brokerage percentage | — | 0.01% |
| 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) | Superhero Securities Limited |
| AFSL number | 314,341 | 430,150 |
| Year founded | 2,007 | 2,020 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | Independent (founder-controlled). Previously merged into Swyftx in 2022; demerger completed December 2022 returning ownership to co-founders John Winters and Wayne Baskin. |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $500 | $100 |
| Minimum subsequent purchase | — | $100 |
| Deposit methods | BPAY, Bank transfer (EFT), Direct credit | PayID, BPAY, bank transfer |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 for ASX, T+1 for US |
| Withdrawal time | 1-2 business days | 1-3 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | — | No |
| Free real-time market data | No | Yes |
| Free research reports | Yes | No |
| 2FA support | SMS | SMS |
| Customer support channels | phone, email, online forms | email, in-app chat |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | Monday-Friday 9:00am-5:00pm AEST |
| Education content | basic articles | basic |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | 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 | — |
| Auto-invest / DCA | — | Yes |
| Auto-invest sophistication | none | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | — | No |