Bendigo Invest Direct vs Stake
The biggest difference between Bendigo Invest Direct and Stake is how you hold your ASX shares. Bendigo Invest Direct is fully CHESS-sponsored, meaning you get your own HIN and shares are registered in your name. Stake uses a mixed model — you can get a HIN for ASX trades, but US holdings sit in a custodian arrangement. That distinction, plus a massive gap in brokerage fees, makes these two platforms suit very different investors.
- ›You want full CHESS sponsorship with your own HIN on every ASX trade — Bendigo Invest Direct is a traditional broker in that sense.
- ›You trade international markets beyond the US — Bendigo covers 17 countries including the UK, Japan, Canada and Europe.
- ›You need options trading, managed funds or bonds under one roof.
- ›You want a bank-backed broker with phone support and a desktop platform for serious trading.
- ›You want low-cost ASX trades — Stake charges $3 brokerage compared to Bendigo's $19.95 minimum.
- ›You trade US stocks actively and want a low FX spread (0.55%) plus the ability to hold USD in a dedicated account.
- ›You want to buy fractional US shares — Stake supports them, Bendigo does not.
- ›You prefer a modern app experience with Apple Pay, Google Pay and credit card deposits, and after-hours US trading.
Where they differ
| Fact | Bendigo Invest Direct | Stake |
|---|---|---|
| ASX brokerage minimum | $19.95 | $3.00 |
| US brokerage minimum | $0 | $3 USD |
| CHESS sponsorship | Full CHESS (individual HIN) | Mixed — HIN available for ASX, custodian for US |
| Fractional US shares | Not supported | Supported |
| Withdrawal fee | $35 | $0 |
Choose Bendigo Invest Direct for full CHESS ownership and global markets; choose Stake for low-cost ASX trades and US fractional investing.
Common questions
How do Bendigo Invest Direct and Stake compare on asx brokerage minimum?
Bendigo Invest Direct: $19.95. Stake: $3.00. Stake is dramatically cheaper for ASX trades — a 6.5x difference on small trades.
How do Bendigo Invest Direct and Stake compare on us brokerage minimum?
Bendigo Invest Direct: $0. Stake: $3 USD. Bendigo charges zero commission on US trades; Stake charges $3 USD.
How do Bendigo Invest Direct and Stake compare on chess sponsorship?
Bendigo Invest Direct: Full CHESS (individual HIN). Stake: Mixed — HIN available for ASX, custodian for US. Bendigo gives you direct ASX ownership; Stake's US holdings sit in a custodian.
When is Bendigo Invest Direct the better choice over Stake?
Pick Bendigo Invest Direct if you want full CHESS sponsorship with your own HIN on every ASX trade — Bendigo Invest Direct is a traditional broker in that sense; you trade international markets beyond the US — Bendigo covers 17 countries including the UK, Japan, Canada and Europe; you need options trading, managed funds or bonds under one roof; or you want a bank-backed broker with phone support and a desktop platform for serious trading.
When is Stake the better choice over Bendigo Invest Direct?
Pick Stake if you want low-cost ASX trades — Stake charges $3 brokerage compared to Bendigo's $19.95 minimum; you trade US stocks actively and want a low FX spread (0.55%) plus the ability to hold USD in a dedicated account; you want to buy fractional US shares — Stake supports them, Bendigo does not; or you prefer a modern app experience with Apple Pay, Google Pay and credit card deposits, and after-hours US trading.
Bendigo Invest Direct or Stake — what's the verdict?
Choose Bendigo Invest Direct for full CHESS ownership and global markets; choose Stake for low-cost ASX trades and US fractional 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 | Stake |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | mixed |
| Individual HIN | Yes | Yes |
| 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 |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | Yes | Yes |
| IPO access | Yes | — |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | 0.55% |
| FX spread (other currencies) | 0.7% | — |
| Holds USD account | No | Yes |
| FX currency switch trick | — | Yes |
| 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 | Corporate actions (dividends, SPPs, rights issues, takeovers) are passed through where mandatory; Stake does not provide a DRP — investors must elect DRP directly with each company's share registry. No published per-event fee. |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $3 |
| ASX brokerage percentage | 0.11% | 0.01% |
| ASX brokerage threshold | $22,000 | $30,000 |
| ASX free trade conditions | — | No free-trade promotion ordinarily offered; brokerage waived for 12 months on transferred ASX holdings worth A$1,000+ |
| US brokerage minimum | US$0 | US$3 |
| US brokerage percentage | 0% | 0.01% |
| 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 | Stakeshop Pty Ltd |
| AFSL number | 246,381 | 548,196 |
| 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) | Privately held (Stakeshop AFSL Pty Ltd group); investors include AGL Energy's former CEO and various private investors |
| 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 | — | $20 |
| Deposit methods | BPAY, direct credit | Bank transfer (Osko/PayID), Apple Pay, Google Pay, Debit card, Credit card |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 for ASX; T+1 for US |
| Withdrawal time | — | 1-2 business days for AUD (Stake AUS); 2-3 US business days for USD (Stake Wall St) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| 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 | Email, In-app chat, Help centre |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | Business hours AEST/AEDT (approximately Mon-Fri); chat/email response varies |
| Education content | basic_articles | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | — | No |
| 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 | No |
| Auto-invest / DCA | No | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |