Bendigo Invest Direct vs Pearler
The biggest difference between Bendigo Invest Direct and Pearler is how you trade. Bendigo is a full-service CHESS-sponsored broker backed by a major bank, with access to 15 global markets, options trading, and IPOs — but it charges $19.95 per ASX trade. Pearler is a modern, community-focused platform built for long-term investors, with cheap ASX trades at $6.50, fractional US shares, and automated investing — but it holds US assets in custody rather than under your HIN.
- ›You want CHESS sponsorship and your own HIN for every trade on the ASX
- ›You trade options, IPOs, bonds, or managed funds alongside shares
- ›You need access to 15 international markets including the UK, Japan, and Europe
- ›You want free real-time market data and research reports included
- ›You trade large ASX parcels — the 0.11% rate above $22,000 makes it cheaper than Pearler on big orders
- ›You want the lowest ASX brokerage at $6.50 per trade regardless of size
- ›You want to automate your investing with auto-deposits and rebalancing
- ›You want fractional US shares so you can buy $50 of a $500 stock
- ›You want zero fees for withdrawals, transfers, or inactivity
- ›You value a modern app with video education and a community of like-minded long-term investors
Where they differ
| Fact | Bendigo Invest Direct | Pearler |
|---|---|---|
| ASX brokerage (minimum) | $19.95 | $6.50 |
| US fractional shares | Not supported | Supported |
| CHESS sponsorship model | Full CHESS (your HIN for all ASX holdings) | Mixed — US holdings held in custody, ASX under your HIN |
| Auto-invest / DCA | Not supported | Supported with rebalancing |
| Withdrawal fee | $35 | $0 |
Choose Bendigo for full CHESS, global markets, and options; choose Pearler for low-cost, automated, long-term investing.
Common questions
How do Bendigo Invest Direct and Pearler compare on asx brokerage (minimum)?
Bendigo Invest Direct: $19.95. Pearler: $6.50. Pearler is roughly one-third the cost per ASX trade.
How do Bendigo Invest Direct and Pearler compare on us fractional shares?
Bendigo Invest Direct: Not supported. Pearler: Supported. Pearler lets you buy partial US shares; Bendigo does not.
How do Bendigo Invest Direct and Pearler compare on chess sponsorship model?
Bendigo Invest Direct: Full CHESS (your HIN for all ASX holdings). Pearler: Mixed — US holdings held in custody, ASX under your HIN. Bendigo gives you full CHESS on every ASX trade; Pearler uses custody for US stocks.
When is Bendigo Invest Direct the better choice over Pearler?
Pick Bendigo Invest Direct if you want CHESS sponsorship and your own HIN for every trade on the ASX; you trade options, IPOs, bonds, or managed funds alongside shares; you need access to 15 international markets including the UK, Japan, and Europe; or you want free real-time market data and research reports included.
When is Pearler the better choice over Bendigo Invest Direct?
Pick Pearler if you want the lowest ASX brokerage at $6.50 per trade regardless of size; you want to automate your investing with auto-deposits and rebalancing; you want fractional US shares so you can buy $50 of a $500 stock; or you want zero fees for withdrawals, transfers, or inactivity.
Bendigo Invest Direct or Pearler — what's the verdict?
Choose Bendigo for full CHESS, global markets, and options; choose Pearler for low-cost, automated, long-term investing.
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 | Pearler |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | mixed |
| 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | 0.5% |
| FX spread (other currencies) | 0.7% | — |
| Holds USD account | No | No |
| FX currency switch trick | — | No |
| Market data fees | $41.25/month | $0/month |
| Conditional order fees | $0 | — |
| Phone trade surcharge | $50 | — |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | — |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $6.5 |
| ASX brokerage percentage | 0.11% | — |
| ASX brokerage threshold | $22,000 | — |
| US brokerage minimum | US$0 | US$6.5 |
| US brokerage percentage | 0% | — |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | $35 | $0 |
| Off-market transfer fee | $55 | $0 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Pearler Investments Pty Ltd |
| AFSL number | 246,381 | 337,927 |
| Year founded | — | 2,018 |
| 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) | Privately held (founder-led); backed by investors including AfterWork Ventures |
| Country of incorporation | AU | AU |
| Public company status | public (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | private |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | PayID, Osko, Bank transfer, PayTo (direct debit replacement) |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 (ASX), T+1 (US) |
| Withdrawal time | — | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | — | No |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | — | authenticator_app |
| Customer support channels | phone, email, live_chat, in_app | email, phone, in-app |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | Mon-Fri 9am-5pm AET |
| Education content | basic_articles | video_and_courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | — | Yes |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | No |
| Conditional orders | Yes | No |
| Auto-invest / DCA | No | Yes |
| Auto-invest sophistication | none | rebalancing |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |