Share Trading comparison
Bendigo Invest Direct vs eToro
The biggest practical difference between Bendigo Invest Direct and eToro is ownership structure. Bendigo Invest Direct is a CHESS-sponsored broker — you get your own HIN and shares are held in your name on the ASX settlement system. eToro is a custodian model: you don't get a HIN, and your ASX holdings sit in a managed investment scheme under eToro's name. That distinction ripples through everything from corporate actions to DRP access and your legal rights as a shareholder.
Choose
Bendigo Invest Direct
if…
- ›You want your ASX shares held under your own HIN with full CHESS sponsorship and direct ASX settlement
- ›You plan to trade options, managed funds, bonds or participate in IPOs — Bendigo supports all of these
- ›You want a traditional broker that integrates with Sharesight or Navexa for tax reporting
- ›You're comfortable paying $19.95 per ASX trade in exchange for CHESS ownership and a wider product range
- ›You need joint, trust, company or SMSF account structures
Choose
eToro
if…
- ›You want zero brokerage on ASX and US shares — eToro charges $0 per trade on non-leveraged positions
- ›You want to buy fractional shares in ASX or US stocks with a minimum of just $50
- ›You want to automate your investing with a DCA/auto-invest feature that supports multiple portfolios
- ›You want to trade CFDs or crypto alongside your share portfolio
- ›You want a low $50 minimum deposit and flexible funding via credit card, PayPal or POLi
Where they differ
| Fact | Bendigo Invest Direct | eToro |
|---|---|---|
| ASX brokerage | $19.95 minimum (0.11% over $22,000) | $0 (non-leveraged real shares) |
| CHESS sponsorship | Yes — individual HIN | No — custodian model |
| Fractional shares | Not supported | Supported on ASX and US stocks |
| Dividend reinvestment (DRP) | Supported | Not supported |
| Withdrawal fee | $35 | $0 |
Verdict
Choose Bendigo Invest Direct if CHESS ownership matters; choose eToro if zero commissions, fractional shares and low minimums are your priority.
Cost calculator
What would Bendigo Invest Direct vs eToro 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 | eToro |
|---|---|---|
| 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 | — | No |
| 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 States, United Kingdom, Germany, France, Hong Kong, Italy, Spain, Netherlands, Sweden, Belgium, Denmark, Norway, Finland, Switzerland, Portugal |
| Fractional shares (ASX) | No | Yes |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | Yes |
| Crypto trading | — | Yes |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | 0.75% |
| FX spread (other currencies) | 0.7% | — |
| Holds USD account | No | Yes |
| FX currency switch trick | — | No |
| Market data fees | $41.25/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $50 | — |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | eToro passes through cash dividends from non-leveraged real positions (debit/credit to wallet). It does not facilitate participation in rights issues, share purchase plans (SPPs), DRPs or shareholder votes because shares are held in a managed investment scheme by the custodian, not in the user's name. No explicit fee, but corporate action access is materially restricted. |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $0 |
| ASX brokerage percentage | 0.11% | 0% |
| ASX brokerage threshold | $22,000 | — |
| ASX free trade conditions | — | Zero commission applies to all non-leveraged (real) ASX share and ETF purchases. Leveraged / short positions are executed as CFDs and incur 0.15% open/close spread plus overnight financing. |
| 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 | — | $10 |
| Withdrawal fee (AUD) | $35 | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | eToro AUS Capital Limited |
| AFSL number | 246,381 | 491,139 |
| AUSTRAC registration | — | Yes |
| Year founded | — | 2,017 |
| 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) | eToro Group Ltd (NASDAQ: ETOR) — listed 14 May 2025; originally founded in Israel by Yoni and Ronen Assia. eToro AUS Capital Limited is a wholly-owned Australian subsidiary. |
| Country of incorporation | AU | Australia |
| Public company status | public (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | public |
| money movement | ||
| Minimum initial deposit | $500 | $50 |
| Minimum subsequent purchase | — | $50 |
| Deposit methods | BPAY, direct credit | Bank transfer, Debit card, Credit card, PayPal, Skrill, Neteller, POLi, Online banking |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 ASX, T+1 US (settlement managed by the eToro Service custodian; user funds reflect immediately in eToro wallet) |
| Withdrawal time | — | 1-2 business days for eToro processing; total 2-10 business days end-to-end depending on payment method (bank transfer longer than card) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | — | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | No |
| 2FA support | — | SMS + authenticator app |
| Customer support channels | phone, email, live_chat, in_app | Live chat (Club members only), Email / web ticket, Help centre |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | — |
| Education content | basic_articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| CGT calculator / report | Yes | Yes |
| 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 | Yes |
| Auto-invest sophistication | none | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | No |