Bendigo Invest Direct vs CMC Invest
Both platforms are run by the same legal entity, CMC Markets Stockbroking Limited (AFSL 246381), so the real difference is the wrapper: Bendigo Invest Direct is the white-label version sitting behind Bendigo and Adelaide Bank, while CMC Invest is the direct-to-consumer product. CMC Invest is cheaper to trade and cheaper to run, with a $11 ASX minimum, free daily ASX buys up to $1,000, no market data fees and no withdrawal fee. Bendigo Invest Direct charges more but adds bonds, a wider market list and branch-era support hours.
- ›Want your trading account attached to an existing Bendigo and Adelaide Bank relationship
- ›Need bond access alongside shares, since CMC Invest does not offer bonds
- ›Trade larger ASX parcels where the $22,000 threshold makes the 0.11% rate competitive
- ›Prefer phone support with extended hours, 7:30am-7:00pm for chat and email
- ›Want access to markets like Portugal, Italy, Ireland-adjacent European exchanges and NZ under a bank-branded service
- ›Want the lowest ASX brokerage, with an $11 minimum and 0.10% above $1,000
- ›Buy small ASX parcels regularly and want $0 brokerage on your first buy per security per day up to $1,000
- ›Refuse to pay for market data, since CMC Invest charges $0/month versus $41.25/month
- ›Want to withdraw cash without a fee and get it in 1-2 business days
- ›Want auto-invest for dollar-cost averaging and a kids/minor account option
Where they differ
| Fact | Bendigo Invest Direct | CMC Invest |
|---|---|---|
| ASX brokerage minimum | 19.95 AUD | 11 AUD |
| ASX brokerage rate above threshold | 0.0011% above 22000 AUD | 0.001% above 1000 AUD |
| Market data fees | 41.25 AUD/month | 0 AUD/month |
| Withdrawal fee | 35 AUD | 0 AUD |
| Bonds supported | true | false |
Same broker underneath, but CMC Invest is cheaper and more flexible while Bendigo Invest Direct only wins on bonds and bank branding.
Common questions
How do Bendigo Invest Direct and CMC Invest compare on asx brokerage minimum?
Bendigo Invest Direct: 19.95 AUD. CMC Invest: 11 AUD. CMC Invest is roughly 45% cheaper on the smallest ASX trades.
How do Bendigo Invest Direct and CMC Invest compare on asx brokerage rate above threshold?
Bendigo Invest Direct: 0.0011% above 22000 AUD. CMC Invest: 0.001% above 1000 AUD. CMC Invest applies its percentage rate from a much lower trade size.
How do Bendigo Invest Direct and CMC Invest compare on market data fees?
Bendigo Invest Direct: 41.25 AUD/month. CMC Invest: 0 AUD/month. Bendigo Invest Direct's data fee is a real ongoing cost for active users.
When is Bendigo Invest Direct the better choice over CMC Invest?
Pick Bendigo Invest Direct if want your trading account attached to an existing Bendigo and Adelaide Bank relationship; need bond access alongside shares, since CMC Invest does not offer bonds; trade larger ASX parcels where the $22,000 threshold makes the 0.11% rate competitive; or prefer phone support with extended hours, 7:30am-7:00pm for chat and email.
When is CMC Invest the better choice over Bendigo Invest Direct?
Pick CMC Invest if want the lowest ASX brokerage, with an $11 minimum and 0.10% above $1,000; buy small ASX parcels regularly and want $0 brokerage on your first buy per security per day up to $1,000; refuse to pay for market data, since CMC Invest charges $0/month versus $41.25/month; or want to withdraw cash without a fee and get it in 1-2 business days.
Bendigo Invest Direct or CMC Invest — what's the verdict?
Same broker underneath, but CMC Invest is cheaper and more flexible while Bendigo Invest Direct only wins on bonds and bank branding.
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 | $55 |
| 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 |