Share Trading comparison
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.
Choose
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
- ›You need a kids / minor account for investing on behalf of a child
- ›You want managed fund investing alongside your ASX and US trades
Choose
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
- ›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 |
Verdict
Choose CMC Invest for CHESS-sponsored, low-cost ASX investing; choose Interactive Brokers for global reach, lower FX, and advanced trading.
Cost calculator
What would CMC Invest vs Interactive Brokers Australia 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 | 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 |