Share Trading comparison
Bendigo Invest Direct vs tastytrade
Bendigo Invest Direct and tastytrade serve completely different purposes. Bendigo Invest Direct is a full-service Australian broker offering CHESS-sponsored ASX trading, international markets, and bank-backed security. tastytrade is a US-based options and equities specialist with zero-commission US trading but no ASX access at all. The biggest practical difference: one lets you buy BHP on the ASX under your own HIN, the other is purely for US markets via a custodial arrangement.
Choose
Bendigo Invest Direct
if…
- ›You want to trade ASX shares and ETFs under your own HIN with CHESS sponsorship
- ›You need access to a wide range of international markets (UK, Japan, Canada, Europe, Hong Kong, NZ, Singapore)
- ›You want a single platform that handles ASX, US, and international stocks plus managed funds, bonds, and IPOs
- ›You prefer a bank-owned broker with Australian business hours support (7:30am-7pm)
- ›You need an Australian tax statement and CGT reporting for your portfolio
Choose
tastytrade
if…
- ›You trade US options actively and want zero-commission US stock and options trading
- ›You don't need ASX trading at all and are focused purely on US equities, ETFs, and options
- ›You want after-hours US trading capability and T+1 settlement on US trades
- ›You prefer a modern trading platform with extensive video education and a demo account to practice
- ›You want to avoid monthly market data fees — tastytrade charges $0 for real-time US data
Where they differ
| Fact | Bendigo Invest Direct | tastytrade |
|---|---|---|
| ASX trading | Yes — CHESS-sponsored, individual HIN | Not offered |
| US brokerage | $0 commission (but 0.007% FX spread) | $0 commission (holds USD account, no FX on each trade) |
| Market data fees | $41.25/month for ASX real-time data | $0/month for US real-time data |
| Withdrawal fee | $35 AUD per withdrawal | No withdrawal fee (but international wire fees may apply) |
| Minimum deposit | $500 AUD minimum initial deposit | $0 minimum to open and start trading |
Verdict
If you trade ASX stocks, choose Bendigo Invest Direct. If you only trade US options and equities, choose tastytrade.
Cost calculator
What would Bendigo Invest Direct vs tastytrade actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bendigo Invest Direct | tastytrade |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | custodian |
| Individual HIN | Yes | No |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | No |
| Kids / minor account | — | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| 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 | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | Yes | Yes |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | — |
| 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 | Standard US corporate action processing applies (dividends, splits, mergers). Mandatory corporate actions are processed at no fee; voluntary corporate actions (e.g. tender offers) may incur a fee per tastytrade's fee schedule. |
| costs visible | ||
| ASX brokerage minimum | $19.95 | — |
| ASX brokerage percentage | 0.11% | — |
| ASX brokerage threshold | $22,000 | — |
| ASX free trade conditions | — | Not applicable — tastytrade does not offer ASX trading. |
| 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 | — | $0 |
| Withdrawal fee (AUD) | $35 | — |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | tastytrade, Inc. |
| AFSL number | 246,381 | — |
| 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) | IG Group Holdings plc (LSE: IGG) |
| Country of incorporation | AU | US |
| Public company status | public (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | public |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | international wire (USD), ACH (US only), check (US only) |
| Settlement period | T+2 ASX (CHESS settlement) | T+1 (US equities/ETFs, from May 2024) |
| Withdrawal time | — | International wire withdrawals to AU typically 3-5 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | — | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | No |
| 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, approx. 7am-5pm US Central Time = approx. 10pm-8am AET (next day). Weekend support limited. No AU business-hours coverage. |
| Education content | basic_articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| 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 | Yes |
| Auto-invest / DCA | No | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |