Share Trading comparison
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.
Choose
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.
- ›You want a bank-backed broker with phone support and a desktop platform for serious trading.
Choose
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.
- ›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 |
Verdict
Choose Bendigo Invest Direct for full CHESS ownership and global markets; choose Stake for low-cost ASX trades and US fractional investing.
Cost calculator
What would Bendigo Invest Direct vs Stake 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 | 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 |