Share Trading comparison
Bendigo Invest Direct vs CMC Invest
Both Bendigo Invest Direct and CMC Invest are powered by the same engine — CMC Markets Stockbroking — and both offer CHESS-sponsored ASX trading. But the pricing gap is stark: CMC Invest charges $0 brokerage on ASX buys under $1,000 (one free trade per stock per day), while Bendigo Invest Direct starts at $19.95. That difference alone decides which one you should open.
Choose
Bendigo Invest Direct
if…
- ›You want access to bonds — CMC Invest doesn't support them, Bendigo Invest Direct does
- ›You need phone trading and don't mind paying a $50 surcharge (CMC charges $59.95)
- ›You prefer the backing of Bendigo Bank's brand for trust and relationship banking
- ›You want corporate action features like BPAY for corporate actions and IPO/Placement booking at $55 per stock
Choose
CMC Invest
if…
- ›You want $0 brokerage on ASX buys up to $1,000 per stock per day — that's a huge saving for small regular trades
- ›You want auto-invest / DCA functionality (CMC has it, Bendigo doesn't)
- ›You hate fees — CMC has no withdrawal fee ($35 at Bendigo), no off-market transfer fee ($55 at Bendigo), and no market data fee ($41.25/month at Bendigo)
- ›You want a kids / minor account option, which Bendigo doesn't offer
- ›You prefer PayID deposits over BPAY-only at Bendigo
Where they differ
| Fact | Bendigo Invest Direct | CMC Invest |
|---|---|---|
| ASX brokerage minimum | $19.95 | $11 ($0 on first ASX buy per stock per day up to $1,000) |
| Market data fees | $41.25/month | $0/month |
| Withdrawal fee | $35 | $0 |
| Auto-invest / DCA | Not available | Available (single asset level) |
| Kids / minor account | Not offered | Available |
Verdict
CMC Invest is the cheaper, more feature-rich choice for most retail investors — Bendigo Invest Direct only makes sense if you need bonds or prefer the bank brand.
Cost calculator
What would Bendigo Invest Direct vs CMC Invest actually cost you?
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 | Bendigo Invest 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 |
| 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 | UK, JP, CA, DE, FR, HK, SG, NZ, NL, BE, PT, ES, IT, NO, SE | 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) | No | 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) | 0.7% | 0.6% |
| FX spread (other currencies) | 0.7% | 0.6% |
| Holds USD account | No | No |
| Market data fees | $41.25/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $50 | $59.95 |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | — |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $11 |
| ASX brokerage percentage | 0.11% | 0.1% |
| ASX brokerage threshold | $22,000 | $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% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | — | $15 |
| Withdrawal fee (AUD) | $35 | $0 |
| Off-market transfer fee | $55 | $0 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | CMC Markets Stockbroking Limited |
| AFSL number | 246,381 | 246,381 |
| Year founded | — | 1,989 |
| Parent / ownership | Bendigo and Adelaide Bank Limited (ABN 11 068 049 178); service operated by CMC Markets Stockbroking Limited, a member of the CMC Markets Group (CMC Markets plc, LSE-listed) | CMC Markets plc (LSE: CMCX) |
| Country of incorporation | AU | AU |
| Public company status | public (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | PayID, Bank transfer (EFT), BPAY |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 for ASX; T+1 for US |
| Withdrawal time | — | 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 | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | — | authenticator app |
| Customer support channels | phone, email, live_chat, in_app | phone, email, live chat |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | 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 |
| 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 | No | Yes |
| Auto-invest sophistication | none | single asset |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |