CMC Invest vs Stake
The biggest practical difference between CMC Invest and Stake comes down to CHESS sponsorship versus custodian-style US trading. CMC Invest is fully CHESS-sponsored for ASX trades — you get your own HIN and direct ownership of Australian shares. Stake uses a mixed model: CHESS for ASX but a custodian arrangement for US stocks, though it does offer a USD account to sidestep FX fees on US trades.
- ›You want $0 brokerage on ASX trades up to $1,000 per security per day — ideal for dollar-cost averaging into ETFs or blue chips
- ›You need a CHESS-sponsored HIN for every ASX holding, giving you direct share ownership and control
- ›You trade international markets beyond the US — CMC covers 15 countries including the UK, Japan, Germany and Canada
- ›You want dividend reinvestment plans (DRP) handled automatically within the platform
- ›You need joint accounts, kids/minor accounts, or conditional order types like stop-loss and OCO
- ›You trade US stocks regularly and want a dedicated USD account to avoid repeated FX conversion fees
- ›You want fractional US shares — Stake lets you buy slices of US stocks from $20
- ›You prefer a modern, app-first experience with Apple Pay, Google Pay and card deposits for fast funding
- ›You want the cheapest flat-rate ASX brokerage at $3 per trade (up to $30,000) with no inactivity fee
- ›You need after-hours trading access for US markets
Where they differ
| Fact | CMC Invest | Stake |
|---|---|---|
| ASX brokerage (minimum) | $11 | $3 |
| ASX free trades | $0 on first buy per security per day up to $1,000 | No free trades (12-month waiver on transferred holdings only) |
| US brokerage | $0 (0.006% FX spread, no USD account) | $3 USD (0.0055% FX spread, USD account available) |
| Fractional US shares | Not offered | Yes, from $20 |
| International markets | 15 countries (UK, Japan, Canada, Europe, Asia) | US only |
Choose CMC Invest for CHESS-sponsored ASX investing with free small trades; choose Stake for cheap US trading and fractional shares.
Common questions
How do CMC Invest and Stake compare on asx brokerage (minimum)?
CMC Invest: $11. Stake: $3. Stake is significantly cheaper for standard ASX trades.
How do CMC Invest and Stake compare on asx free trades?
CMC Invest: $0 on first buy per security per day up to $1,000. Stake: No free trades (12-month waiver on transferred holdings only). CMC is better for small regular ASX buys.
How do CMC Invest and Stake compare on us brokerage?
CMC Invest: $0 (0.006% FX spread, no USD account). Stake: $3 USD (0.0055% FX spread, USD account available). CMC is cheaper per trade; Stake is cheaper on FX if you use the USD account.
When is CMC Invest the better choice over Stake?
Pick CMC Invest if you want $0 brokerage on ASX trades up to $1,000 per security per day — ideal for dollar-cost averaging into ETFs or blue chips; you need a CHESS-sponsored HIN for every ASX holding, giving you direct share ownership and control; you trade international markets beyond the US — CMC covers 15 countries including the UK, Japan, Germany and Canada; or you want dividend reinvestment plans (DRP) handled automatically within the platform.
When is Stake the better choice over CMC Invest?
Pick Stake if you trade US stocks regularly and want a dedicated USD account to avoid repeated FX conversion fees; you want fractional US shares — Stake lets you buy slices of US stocks from $20; you prefer a modern, app-first experience with Apple Pay, Google Pay and card deposits for fast funding; or you want the cheapest flat-rate ASX brokerage at $3 per trade (up to $30,000) with no inactivity fee.
CMC Invest or Stake — what's the verdict?
Choose CMC Invest for CHESS-sponsored ASX investing with free small trades; choose Stake for cheap US trading and fractional shares.
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 | 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 | 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 | 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 | No | Yes |
| IPO access | Yes | — |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.55% |
| FX spread (other currencies) | 0.6% | — |
| Holds USD account | No | Yes |
| FX currency switch trick | — | Yes |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| Corporate action fees | — | 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 | $11 | $3 |
| ASX brokerage percentage | 0.1% | 0.01% |
| ASX brokerage threshold | $1,000 | $30,000 |
| 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) | 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 | $15 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | $0 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Stakeshop Pty Ltd |
| AFSL number | 246,381 | 548,196 |
| Year founded | 1,989 | 2,017 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | 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 | private |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $20 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | Bank transfer (Osko/PayID), Apple Pay, Google Pay, Debit card, Credit card |
| Settlement period | T+2 for ASX; T+1 for US | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-2 business days | 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 | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat | Email, In-app chat, Help centre |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Business hours AEST/AEDT (approximately Mon-Fri); chat/email response varies |
| Education content | structured courses | structured 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 | No |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | single asset | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |