Alternatives to Bendigo Invest Direct
Bendigo Invest Direct is Bendigo Bank's CHESS-sponsored online broker for ASX and US shares, with trades starting at $19.95 and a percentage-based fee on larger trades. It offers options trading, DRP, and SMSF accounts, making it a solid choice for investors who prefer a bank-backed platform. However, the $19.95 minimum brokerage is higher than many competitors, and there's no auto-invest feature for dollar-cost averaging. If you're looking for lower fees, automated investing, or a different ownership model, there are plenty of alternatives worth comparing. Here are six options to consider.
At $6.50 per trade with auto-invest and community features, Pearler is cheaper and built for long-term investors.
- ASX brokerage minimum
- $6.5(Bendigo Invest Direct: $19.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Bendigo Invest Direct: chess)
Stake offers CHESS-sponsored ASX trades from just $3, significantly undercutting Bendigo's $19.95 minimum.
- ASX brokerage minimum
- $3(Bendigo Invest Direct: $19.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Bendigo Invest Direct: chess)
Moomoo matches Bendigo on options and DRP but charges $3 ASX trades with fractional US shares included.
- ASX brokerage minimum
- $3(Bendigo Invest Direct: $19.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
SelfWealth costs $9.50 per trade with auto-invest, kids accounts, and full CHESS sponsorship for SMSFs.
- ASX brokerage minimum
- $9.5(Bendigo Invest Direct: $19.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Bendigo Invest Direct: chess)
Webull charges just $1 for ASX trades and $0 for US shares, with options and auto-invest built in.
- ASX brokerage minimum
- $1(Bendigo Invest Direct: $19.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
Vanguard Personal Investor offers zero-brokerage ASX trades and auto-invest, ideal for ETF-focused investors on a budget.
- ASX brokerage minimum
- $0(Bendigo Invest Direct: $19.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(Bendigo Invest Direct: chess)
Common questions
Is Bendigo Invest Direct CHESS-sponsored?
Yes, Bendigo Invest Direct is fully CHESS-sponsored. That means your ASX shares are held in your own HIN (Holder Identification Number), giving you direct ownership on the Australian share registry rather than through a custodian arrangement.
Are there cheaper alternatives to Bendigo Invest Direct for ASX trading?
Yes, several brokers offer ASX trades for well under $19.95. Some charge as little as $1 to $6.50 per trade while still providing CHESS sponsorship. If you trade frequently or in smaller amounts, a lower-cost broker could save you hundreds in brokerage each year.
Does Bendigo Invest Direct support automatic investing or dollar-cost averaging?
No, Bendigo Invest Direct does not offer auto-invest or dollar-cost averaging features. If you want to set up regular automated investments into shares or ETFs, you would need to look at a broker that includes scheduled buys as a built-in feature.
Can I trade US shares with Bendigo Invest Direct?
Yes, Bendigo Invest Direct supports trading on US markets. However, the fee structure differs from ASX trading. Some alternatives offer US trades from $0 or very low flat fees, which may be more cost-effective depending on your trading volume.