CMC Invest vs Interactive Brokers Australia
The biggest practical difference between CMC Invest and Interactive Brokers Australia comes down to CHESS sponsorship versus custody. CMC Invest is CHESS-sponsored, meaning you get a HIN and shares are held in your name on the ASX register. Interactive Brokers uses a custodian model, so you don't get a HIN — but you do get lower brokerage, multi-currency accounts, and access to fractional US shares.
- ›You want your ASX holdings under your own HIN with direct CHESS sponsorship
- ›You want $0 brokerage on ASX buys up to $1,000 per security per day
- ›You want a simple, fee-free platform with no inactivity fees and free real-time market data
- ›You need a kids / minor account for investing on behalf of a child
- ›You want managed fund investing alongside your ASX and US trades
- ›You trade frequently and want the lowest ASX brokerage (from $6) and ultra-low US brokerage (from $1 USD)
- ›You want a true multi-currency account that holds USD and other currencies natively
- ›You need fractional US shares, after-hours trading, or access to global markets like China Stock Connect
- ›You want a demo account to test strategies before committing real money
- ›You need 24-hour customer support and sophisticated conditional / auto-invest rules across multiple assets
Where they differ
| Fact | CMC Invest | Interactive Brokers Australia |
|---|---|---|
| CHESS sponsorship | CHESS-sponsored (individual HIN) | Custodian (no HIN) |
| ASX brokerage minimum | $11 (or $0 on first ASX buy up to $1k/day) | $6 |
| US brokerage minimum | $0 (free US trades) | $1 USD (or 0.05% of trade value) |
| FX spread (AUD/USD) | 0.006% | 0.00002% |
| Fractional US shares | Not supported | Supported |
Choose CMC Invest for CHESS-sponsored, low-cost ASX investing; choose Interactive Brokers for global reach, lower FX, and advanced trading.
Common questions
How do CMC Invest and Interactive Brokers Australia compare on chess sponsorship?
CMC Invest: CHESS-sponsored (individual HIN). Interactive Brokers Australia: Custodian (no HIN).
How do CMC Invest and Interactive Brokers Australia compare on asx brokerage minimum?
CMC Invest: $11 (or $0 on first ASX buy up to $1k/day). Interactive Brokers Australia: $6.
How do CMC Invest and Interactive Brokers Australia compare on us brokerage minimum?
CMC Invest: $0 (free US trades). Interactive Brokers Australia: $1 USD (or 0.05% of trade value).
When is CMC Invest the better choice over Interactive Brokers Australia?
Pick CMC Invest if you want your ASX holdings under your own HIN with direct CHESS sponsorship; you want $0 brokerage on ASX buys up to $1,000 per security per day; you want a simple, fee-free platform with no inactivity fees and free real-time market data; or you need a kids / minor account for investing on behalf of a child.
When is Interactive Brokers Australia the better choice over CMC Invest?
Pick Interactive Brokers Australia if you trade frequently and want the lowest ASX brokerage (from $6) and ultra-low US brokerage (from $1 USD); you want a true multi-currency account that holds USD and other currencies natively; you need fractional US shares, after-hours trading, or access to global markets like China Stock Connect; or you want a demo account to test strategies before committing real money.
CMC Invest or Interactive Brokers Australia — what's the verdict?
Choose CMC Invest for CHESS-sponsored, low-cost ASX investing; choose Interactive Brokers for global reach, lower FX, and advanced trading.
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 | CMC Invest | Interactive Brokers Australia |
|---|---|---|
| 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 | Yes |
| Kids / minor account | Yes | 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 | United Kingdom, Canada, Japan, Germany, France, Netherlands, Belgium, Spain, Switzerland, Sweden, Denmark, Norway, Singapore, Hong Kong, New Zealand | US, Canada, UK, Ireland, Germany, France, Netherlands, Belgium, Spain, Italy, Switzerland, Austria, Sweden, Norway, Denmark, Finland, Poland, Czechia, Hungary, Israel, Hong Kong, Japan, Singapore, China (Stock Connect), South Korea, India, Indonesia, Thailand, Malaysia, Australia, New Zealand, South Africa, Mexico |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | Yes |
| Managed funds | Yes | No |
| Bonds supported | No | Yes |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.002% |
| FX spread (other currencies) | 0.6% | 0.002% |
| Holds USD account | No | Yes |
| FX currency switch trick | — | No |
| Market data fees | $0/month | — |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| Corporate action fees | — | Corporate action processing is generally fee-free for standard events (dividends, splits, mergers). Some voluntary corporate actions and ADR pass-through fees apply per the published fee schedule. Mandatory reorganisations are processed at no charge. |
| costs visible | ||
| ASX brokerage minimum | $11 | $6 |
| ASX brokerage percentage | 0.1% | 0.08% |
| ASX brokerage threshold | $1,000 | — |
| ASX free trade conditions | $0 brokerage on first ASX buy order per security per day for trades up to $1,000 (excludes margin loan settled trades and sells) | — |
| US brokerage minimum | US$0 | US$1 |
| US brokerage percentage | 0% | 0.05% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $15 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | $0 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Interactive Brokers Australia Pty Ltd |
| AFSL number | 246,381 | 453,554 |
| Year founded | 1,989 | 1,978 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | Interactive Brokers Group, Inc. (NASDAQ: IBKR) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | Bank transfer (EFT), BPAY, International wire (SWIFT) |
| Settlement period | T+2 for ASX; T+1 for US | T+2 for ASX, T+1 for US equities |
| Withdrawal time | 1-2 business days | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat, in-app secure message |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | 24 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight |
| Education content | structured courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | 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 | Yes | Yes |
| Auto-invest sophistication | single asset | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |