Can I open an SMSF account with Stake?

Yes, Stake supports SMSF accounts. You can open an account in the name of your SMSF trustee. Stake uses a mixed model: CHESS sponsorship for ASX holdings and a custodian model for US holdings. There is no DRP support, so dividends are paid as cash.

Does CommSec charge extra for SMSF accounts?

No, CommSec does not charge a separate SMSF account fee. Brokerage starts at $5 per ASX trade if you link a Commonwealth Direct Investment Account (CDIA). Without CDIA, brokerage starts at $29.95. There are no monthly platform fees or inactivity fees for SMSF accounts.

What is the cheapest CHESS-sponsored broker for SMSF?

Stake is the cheapest CHESS-sponsored broker for ASX trades at $3 per trade (plus 0.01% variable). However, it does not support DRP. If you want DRP, CommSec at $5 per trade (with CDIA) or Bell Direct at $5 per trade are the next cheapest options, though Bell Direct charges $27.50/month for market data.

Is Interactive Brokers suitable for SMSF?

Interactive Brokers supports SMSF accounts but uses a custodian model for ASX holdings, not CHESS sponsorship. This means your ASX shares are held in the broker's name, not directly under the fund's HIN. Some SMSF auditors charge more for custodian-held assets. IBKR is best suited for SMSFs that trade US and global markets frequently, thanks to very tight FX spreads.

Can I use a robo-advisor with my SMSF?

Most robo-advisors (Six Park, Stockspot) operate on a managed account or IDPS structure, not a direct CHESS-sponsored SMSF account. Among standard brokers, SelfWealth and CMC Invest offer auto-invest features. SelfWealth supports multiple assets, while CMC Invest supports single-asset auto-invest. These are not full robo-advisors but can automate regular contributions.

Does nabtrade support SMSF accounts?

Yes, nabtrade supports SMSF accounts with full CHESS sponsorship. Brokerage is $9.95 per ASX trade (0.11% variable). There is a $19.95 monthly market data fee. nabtrade produces detailed annual tax statements suitable for SMSF audits, and DRP is supported.

Guide · share trading

Best SMSF investment platforms in Australia (2026)

If your self-managed super fund needs a broker or robo-advisor, here are the platforms that actually support SMSF account structures — and which to avoid.

By Investmatch Research Team · Last updated 15 May 2026

What does an SMSF actually need from a trading platform?

If you run a self-managed super fund, you already know that a standard retail brokerage account won't cut it. Your fund is a separate legal entity. The account must be opened in the name of the trustee company or individual trustees, and every trade, dividend, and corporate action needs to flow through to your SMSF's annual audit trail.

The platforms below all support SMSF accounts. But the differences in pricing, CHESS sponsorship, reporting quality, and automation features matter a lot when your portfolio is $200,000 and every dollar of fee drag eats into retirement savings.

The non-negotiable: CHESS sponsorship for ASX holdings

For an SMSF holding ASX-listed shares or ETFs, CHESS sponsorship is the gold standard. It means your holdings are registered directly on the ASX settlement system under the fund's HIN (Holder Identification Number). If you ever switch brokers, the assets move via a simple HIN transfer, not a messy off-market transfer that can take weeks and incur extra costs.

The platforms where ASX-007 (CHESS sponsorship) is confirmed include:

Bell Direct , Full CHESS sponsorship. SMSF accounts supported.
CMC Invest , Full CHESS sponsorship. SMSF accounts supported.
CommSec , Full CHESS sponsorship. SMSF accounts supported.
nabtrade , Full CHESS sponsorship. SMSF accounts supported.
SelfWealth , Mixed model (CHESS for ASX, custodian for US).
Stake , Mixed model (CHESS for ASX, custodian for US).

Interactive Brokers Australia uses a custodian model for ASX shares. Your holdings sit in the broker's name on your behalf. This is fine for many investors, but for an SMSF it adds a layer of complexity at audit time. Your accountant will need the broker's holding statement rather than a direct CHESS statement. Some SMSF auditors charge more for custodian-held assets. If you value simplicity at tax time, stick with CHESS.

SMSF pricing: what $200,000 of ASX exposure costs you

Let's run a practical example. Your SMSF has $200,000 allocated to ASX-listed ETFs and blue-chip shares. You trade roughly 12 times per year (rebalancing quarterly, plus a few lump-sum buys).

Stake charges $3 per ASX trade with a 0.01% variable component. Twelve trades cost about $36. No monthly platform fee. No market data fee. That is the cheapest CHESS-sponsored option on the list. The catch: Stake does not offer DRP (dividend reinvestment), so every dividend comes as cash. If you want to reinvest, you pay another trade. For an SMSF, this can mean more trades and more to track at tax time.

Bell Direct charges $5 per trade (0.1% variable). Twelve trades cost roughly $60, plus $27.50 per month for market data ($330/year). Total: around $390/year. The data fee is a significant addition. However, Bell Direct supports DRP, which reduces the need to manually reinvest dividends.

CommSec charges $5 per trade (0.12% variable) if you link a Commonwealth Direct Investment Account. Twelve trades cost about $60. No monthly or inactivity fees. DRP is supported. The CDIA requirement is straightforward for most SMSF trustees who already bank with CBA.

CMC Invest charges $11 per trade (0.1% variable), but the first ASX buy order per security per day is free for trades up to $1,000. If you are dollar-cost averaging into an ETF with small amounts, this is valuable. Twelve trades at full price cost roughly $132. No platform fee. No market data fee. DRP is supported.

SelfWealth charges $9.50 per trade. Twelve trades cost $114. No platform or inactivity fees. DRP is supported. SelfWealth Premium ($29/month or $240/year) gives 10 free trades annually, which could reduce costs if you trade more than a dozen times.

nabtrade charges $9.95 per trade (0.11% variable). Twelve trades cost roughly $119.40, plus $19.95/month for market data ($239.40/year). Total: around $359/year. DRP is supported. The data fee makes it expensive for a $200k portfolio that trades infrequently.

Reporting and tax: the audit-friendly factor

Every SMSF platform must produce annual statements that your auditor can use. But the quality varies.

CommSec and nabtrade are bank-owned. Their tax statements tend to be conservative and detailed, with clear cost-base reporting for each parcel. This matters for AMIT cost-base adjustments on ETFs.

SelfWealth and Stake produce clean annual reports, but some SMSF accountants report that custodian-model US holdings (on both platforms) require extra reconciliation. For pure ASX portfolios, both are fine.

Bell Direct provides detailed trade confirmations and end-of-year summaries. The $27.50 monthly data fee includes access to research, which some trustees find useful for making informed decisions.

Interactive Brokers produces excellent reports, but the custodian model means your SMSF auditor will need the IBKR statement rather than a CHESS statement. Confirm with your auditor before committing.

Robo-advisors and auto-invest for SMSF

Automated investing is still limited in the SMSF space. Most robo-advisors in Australia (Six Park, Stockspot, etc.) operate on a managed account or IDPS structure, not a direct CHESS-sponsored SMSF account. If you want a robo to trade on your behalf, you typically need an IDPS-like platform such as Netwealth or HUB24, not a standard broker.

Among the platforms listed:

CMC Invest supports auto-invest for a single asset. You can set up regular buys into one ETF or share.
SelfWealth supports auto-invest for multiple assets. You can build a portfolio and automate buys.
Interactive Brokers supports sophisticated auto-invest across multiple assets and rebalancing logic.
Bell Direct, CommSec, nabtrade, and Stake do not offer auto-invest or DCA features.

If your SMSF strategy involves regular contributions into a set portfolio, SelfWealth or CMC Invest are the better picks among CHESS-sponsored options.

The bottom line for a $200k SMSF

For a fund holding $200,000 in ASX-listed assets, trading a dozen times a year, the cheapest CHESS-sponsored option is Stake ($36/year in brokerage, no platform fees). The trade-off is no DRP and no auto-invest. If you want DRP and CHESS sponsorship, CommSec ($60/year with CDIA) or Bell Direct ($60/year plus data fees) are strong choices. If you want automated investing with CHESS sponsorship, SelfWealth ($114/year) or CMC Invest ($132/year) are the picks.

For US shares, the custodian model is unavoidable on most platforms. Stake, SelfWealth, and CMC Invest all offer US trading, but the holdings sit offshore. Your SMSF auditor will need to handle FX conversion statements and US dividend withholding tax (15% under the Australia-US tax treaty). Interactive Brokers offers the tightest FX spreads (0.002% AUD/USD) for funds trading US assets regularly.

No single platform wins for every SMSF. Match the platform to your trading frequency, DRP preference, and whether you want automation. And always confirm CHESS sponsorship if you want direct ASX ownership under the fund's HIN.