CMC Invest vs Vanguard Personal Investor
The biggest practical difference between CMC Invest and Vanguard Personal Investor is that CMC is a CHESS-sponsored broker giving you your own HIN, while Vanguard holds everything in custody. That distinction matters for how you own your shares. The other major split is access: CMC lets you trade US and international stocks for free, whereas Vanguard is purely ASX-listed investments — and makes its real money by keeping you inside the Vanguard ecosystem.
- ›You want to own ASX shares under your own HIN with full CHESS sponsorship
- ›You plan to trade US stocks (and stocks from 14 other global markets) at zero brokerage
- ›You want $0 brokerage on ASX buys up to $1,000 per security per day
- ›You need options trading, stop-loss orders, or conditional order types
- ›You want a desktop trading platform alongside the mobile apps
- ›You want completely free ASX trades on Vanguard ETFs and managed funds — no brokerage, no platform fee
- ›You want to set up a multi-asset auto-invest plan that buys across multiple Vanguard funds in one go
- ›You're happy to hold investments in a custodian model and don't need your own HIN
- ›You want a lower minimum to start ($200 vs CMC's $500) and can deposit as little as $1 thereafter
- ›You're building a long-term portfolio around Vanguard managed funds and ETFs and want zero trading costs on buys
Where they differ
| Fact | CMC Invest | Vanguard Personal Investor |
|---|---|---|
| CHESS sponsorship | CHESS-sponsored — you get your own HIN | Custodian model — no individual HIN |
| ASX brokerage | $0 on first ASX buy per security per day up to $1,000; otherwise $11 or 0.1% | $0 on all Vanguard ETF/fund buys; $9 flat on non-Vanguard ASX trades |
| US & international shares | Yes — US, UK, Canada, Japan, Europe, Hong Kong, NZ and more at $0 brokerage | Not supported |
| Auto-invest sophistication | Single asset level (one stock or ETF at a time) | Multiple level (can auto-invest across several Vanguard funds in one plan) |
| Inactivity fee | $15 if no trading activity | $0 |
Pick CMC for CHESS ownership and global trading; pick Vanguard for zero-cost Vanguard ETF investing with multi-fund auto-invest.
Common questions
How do CMC Invest and Vanguard Personal Investor compare on chess sponsorship?
CMC Invest: CHESS-sponsored — you get your own HIN. Vanguard Personal Investor: Custodian model — no individual HIN. CMC gives you direct ownership; Vanguard holds assets on your behalf.
How do CMC Invest and Vanguard Personal Investor compare on asx brokerage?
CMC Invest: $0 on first ASX buy per security per day up to $1,000; otherwise $11 or 0.1%. Vanguard Personal Investor: $0 on all Vanguard ETF/fund buys; $9 flat on non-Vanguard ASX trades. Vanguard is cheaper if you stick to Vanguard products; CMC is cheaper for small trades of any ASX stock.
How do CMC Invest and Vanguard Personal Investor compare on us & international shares?
CMC Invest: Yes — US, UK, Canada, Japan, Europe, Hong Kong, NZ and more at $0 brokerage. Vanguard Personal Investor: Not supported. Vanguard is ASX-only; CMC opens up global markets.
When is CMC Invest the better choice over Vanguard Personal Investor?
Pick CMC Invest if you want to own ASX shares under your own HIN with full CHESS sponsorship; you plan to trade US stocks (and stocks from 14 other global markets) at zero brokerage; you want $0 brokerage on ASX buys up to $1,000 per security per day; or you need options trading, stop-loss orders, or conditional order types.
When is Vanguard Personal Investor the better choice over CMC Invest?
Pick Vanguard Personal Investor if you want completely free ASX trades on Vanguard ETFs and managed funds — no brokerage, no platform fee; you want to set up a multi-asset auto-invest plan that buys across multiple Vanguard funds in one go; you're happy to hold investments in a custodian model and don't need your own HIN; or you want a lower minimum to start ($200 vs CMC's $500) and can deposit as little as $1 thereafter.
CMC Invest or Vanguard Personal Investor — what's the verdict?
Pick CMC for CHESS ownership and global trading; pick Vanguard for zero-cost Vanguard ETF investing with multi-fund auto-invest.
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 | Vanguard Personal Investor |
|---|---|---|
| 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 | Yes |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | No |
| US ETFs supported | Yes | No |
| Other markets supported | United Kingdom, Canada, Japan, Germany, France, Netherlands, Belgium, Spain, Switzerland, Sweden, Denmark, Norway, Singapore, Hong Kong, New Zealand | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | No |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | — |
| FX spread (other currencies) | 0.6% | — |
| Holds USD account | No | — |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| Corporate action fees | — | Participation in voluntary corporate actions (rights issues, SPPs, takeovers) is NOT available through Vanguard Personal Investor for ETFs or direct shares - investors cannot participate. Mandatory corporate actions (e.g. dividends) flow through automatically. No corporate action fees disclosed. |
| costs visible | ||
| ASX brokerage minimum | $11 | $0 |
| ASX brokerage percentage | 0.1% | 0% |
| 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) | $0 brokerage on all buys of Vanguard ETFs (Vanguard managed funds incur no brokerage at all). $0 brokerage on Vanguard ETFs/funds purchased via Auto Invest. Sells of Vanguard ETFs incur $9 flat. ASX direct (non-Vanguard) shares: $9 flat both ways. |
| US brokerage minimum | US$0 | — |
| US brokerage percentage | 0% | — |
| 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 | Vanguard Investments Australia Ltd |
| AFSL number | 246,381 | 227,263 |
| Year founded | 1,989 | 2,020 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | The Vanguard Group, Inc. (US) - mutual structure owned by US-domiciled Vanguard fund investors |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $500 | $200 |
| Minimum subsequent purchase | $0 | $1 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | BPAY, Direct credit (EFT), Direct debit |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX) |
| Withdrawal time | 1-2 business days | Up to 3 business days from processing date (processed same day if requested before 4pm AET) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | No | No |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | authenticator app | SMS |
| Customer support channels | phone, email, live chat | Phone, Secure message (in-app) |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Monday to Friday, 8am to 6pm AET (phone) |
| Education content | structured courses | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | 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 | No |
| Conditional orders | Yes | No |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | single asset | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | No |