CMC Invest vs nabtrade
CMC Invest and nabtrade both offer CHESS-sponsored ASX trading, but the gap in costs is enormous. CMC gives you $0 brokerage on ASX buys up to $1,000 per security per day, plus zero platform fees and free US trades. nabtrade charges a minimum $9.95 on ASX trades, a $19.95/month market data fee, and a 0.8% FX spread on US stocks — making it significantly more expensive for most investors.
- ›You want zero brokerage on ASX buys under $1,000 per security per day
- ›You trade US stocks regularly and want $0 US brokerage with a tiny 0.006% FX spread
- ›You don't want to pay a monthly market data fee just to see live prices
- ›You want access to 15+ international markets including Japan, Canada and Europe
- ›You're looking for a platform with auto-invest / DCA functionality for regular investing
- ›You're a NAB customer who wants instant withdrawals to a linked NAB account
- ›You need to trade bonds — nabtrade supports bonds, CMC does not
- ›You prefer a big-bank parent company (NAB) backing the platform
- ›You want a desktop trading platform — though note nabtrade doesn't offer one either (both are web-based)
Where they differ
| Fact | CMC Invest | nabtrade |
|---|---|---|
| ASX brokerage (minimum) | $11 (or $0 on buys ≤$1,000 per security per day) | $9.95 (0.11% up to $20,000) |
| US brokerage | $0 | $9.95 USD minimum (0.11%) |
| FX spread (AUD/USD) | 0.006% | 0.8% |
| Monthly market data fee | $0 | $19.95/month |
| Off-market transfer fee | $0 | $55 |
CMC Invest is the cheaper, more global option; nabtrade only makes sense if you're already deep in the NAB ecosystem.
Common questions
How do CMC Invest and nabtrade compare on asx brokerage (minimum)?
CMC Invest: $11 (or $0 on buys ≤$1,000 per security per day). nabtrade: $9.95 (0.11% up to $20,000).
How do CMC Invest and nabtrade compare on us brokerage?
CMC Invest: $0. nabtrade: $9.95 USD minimum (0.11%).
How do CMC Invest and nabtrade compare on fx spread (aud/usd)?
CMC Invest: 0.006%. nabtrade: 0.8%.
When is CMC Invest the better choice over nabtrade?
Pick CMC Invest if you want zero brokerage on ASX buys under $1,000 per security per day; you trade US stocks regularly and want $0 US brokerage with a tiny 0.006% FX spread; you don't want to pay a monthly market data fee just to see live prices; or you want access to 15+ international markets including Japan, Canada and Europe.
When is nabtrade the better choice over CMC Invest?
Pick nabtrade if you're a NAB customer who wants instant withdrawals to a linked NAB account; you need to trade bonds — nabtrade supports bonds, CMC does not; you prefer a big-bank parent company (NAB) backing the platform; or you want a desktop trading platform — though note nabtrade doesn't offer one either (both are web-based).
CMC Invest or nabtrade — what's the verdict?
CMC Invest is the cheaper, more global option; nabtrade only makes sense if you're already deep in the NAB ecosystem.
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 | nabtrade |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | Yes |
| 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 | United Kingdom (LSE), Germany (Xetra), Hong Kong (HKEx) |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 80% |
| FX spread (other currencies) | 0.6% | 80% |
| Holds USD account | No | No |
| Market data fees | $0/month | $19.95/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | $59.95 |
| costs visible | ||
| ASX brokerage minimum | $11 | $9.95 |
| ASX brokerage percentage | 0.1% | 11% |
| ASX brokerage threshold | $1,000 | $20,000 |
| 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$9.95 |
| US brokerage percentage | 0% | 11% |
| Monthly platform fee | $0/month | — |
| Annual platform fee | $0/year | — |
| Inactivity fee | $15 | — |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | $55 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | WealthHub Securities Limited |
| AFSL number | 246,381 | 230,704 |
| Year founded | 1,989 | 2,012 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | National Australia Bank Limited (ASX: NAB) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | Direct credit / EFT, BPAY, Internal transfer from linked NAB account |
| Settlement period | T+2 for ASX; T+1 for US | ASX T+2; US T+1; UK/Germany/HK T+2 |
| Withdrawal time | 1-2 business days | Instant to linked NAB accounts; 1 business day to other Australian banks |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | No | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | SMS + PIN |
| Customer support channels | phone, email, live chat | Phone, Email, Secure messaging (via NAB Internet Banking) |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Mon-Fri 8am-6pm AEST/AEDT (contact centre typically 9am-5pm) |
| Education content | structured courses | structured |
| 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 | No |
| Auto-invest sophistication | single asset | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |