Share Trading comparison
CMC Invest vs Tiger Brokers
CMC Invest and Tiger Brokers both offer CHESS-sponsored trading with low fees, but they serve different crowds. CMC is the older, more conservative platform with free ASX trades under $1,000 and deep international market access. Tiger Brokers is the newer challenger, undercutting on brokerage and offering US fractional shares, after-hours trading, and a demo account — but charges $50 to transfer out.
Choose
CMC Invest
if…
- ›You want zero brokerage on ASX buys under $1,000 per security per day — the best deal for small regular ASX investors
- ›You need access to a wide range of international markets beyond the US, including the UK, Japan, Canada, and Europe
- ›You plan to transfer holdings to another broker later — CMC charges $0 for off-market transfers, Tiger charges $50
- ›You want a kids / minor account for investing on behalf of children
- ›You're comfortable with a $15 inactivity fee if you stop trading for a while
Choose
Tiger Brokers
if…
- ›You want the lowest ASX brokerage — Tiger starts at $3 vs CMC's $11 minimum
- ›You want to buy fractional US shares, which Tiger offers and CMC doesn't
- ›You trade US stocks actively — Tiger has a $2 minimum brokerage, holds a USD account (no FX on every trade), and offers after-hours trading
- ›You want to try before you buy — Tiger has a demo account; CMC doesn't
- ›You want zero inactivity fees and a slightly tighter FX spread on AUD/USD conversions
Where they differ
| Fact | CMC Invest | Tiger Brokers |
|---|---|---|
| ASX brokerage minimum | $11 | $3 |
| US brokerage minimum | $0 | $2 USD |
| Off-market transfer fee | $0 | $50 |
| USD account | No | Yes |
| After-hours trading | No | Yes |
Verdict
Choose CMC for free small ASX trades and broad global access; choose Tiger for cheaper standard brokerage and US-focused features.
Cost calculator
What would CMC Invest vs Tiger Brokers 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 | Tiger Brokers |
|---|---|---|
| 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 | 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 | Hong Kong, China A-shares |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | No | No |
| IPO access | Yes | 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 | — | No |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| costs visible | ||
| ASX brokerage minimum | $11 | $3 |
| ASX brokerage percentage | 0.1% | 0.03% |
| ASX brokerage threshold | $1,000 | $10,000 |
| 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) | New clients receive zero-brokerage on up to 4 trades per month on ASX/US stocks, ETFs or options (minimum brokerage waived; third-party fees still apply). |
| US brokerage minimum | US$0 | US$2 |
| 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 | $50 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Tiger Brokers (AU) Pty Limited |
| AFSL number | 246,381 | 300,767 |
| Year founded | 1,989 | 2,020 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | UP Fintech Holding Limited (NASDAQ: TIGR) |
| 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 | PayID, PayTo, Bank transfer (direct credit) |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days | 1-2 business days (Tiger review) plus bank processing; can arrive same day |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | — |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat, in-app |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Phone: 9am-5pm weekdays (AET). Live chat: 9am-8:30pm weekdays. Email: ongoing. |
| Education content | structured courses | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | — |
| 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 | single asset |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | Yes |