Share Trading comparison
Bell Direct vs CMC Invest
The biggest difference between Bell Direct and CMC Invest is how they handle costs. CMC Invest offers $0 brokerage on ASX buys up to $1,000 per security per day, plus free US trades and zero market data fees. Bell Direct charges a flat $5 minimum on ASX trades and $27.50/month for live data, but gives you CHESS sponsorship with a personal HIN and fractional US shares.
Choose
Bell Direct
if…
- ›You want CHESS-sponsored ownership with your own HIN — Bell Direct is a true CHESS broker
- ›You want to buy fractional US shares, which Bell Direct supports but CMC Invest doesn't
- ›You need access to bonds, IPOs, and managed funds in one place — Bell Direct covers all three
- ›You're okay paying $27.50/month for live market data and want phone trade support (at $60 per trade)
Choose
CMC Invest
if…
- ›You want zero brokerage on ASX trades up to $1,000 per security per day — CMC Invest's free-trade offer is unmatched
- ›You trade US stocks regularly and want $0 US brokerage with a tiny 0.006% FX spread (vs Bell Direct's 0.6%)
- ›You want free real-time ASX market data with no monthly fee
- ›You trade across global markets — CMC Invest covers 17 countries including the UK, Japan, and Europe
- ›You prefer authenticator app 2FA and live chat support over Bell Direct's SMS-only 2FA
Where they differ
| Fact | Bell Direct | CMC Invest |
|---|---|---|
| ASX brokerage minimum | $5 | $11 (or $0 on first buy per security per day up to $1,000) |
| US brokerage | $0 but 0.6% FX spread | $0 with 0.006% FX spread |
| Market data fees | $27.50/month | $0/month |
| Fractional US shares | Yes | No |
| Off-market transfer fee | $55 | $0 |
Verdict
Choose Bell Direct for CHESS ownership and fractional US shares; choose CMC Invest for near-zero trading costs and global market access.
Cost calculator
What would Bell Direct vs CMC Invest 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 | Bell Direct | CMC Invest |
|---|---|---|
| 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 | Yes |
| 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | No |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 0.6% |
| FX spread (other currencies) | — | 0.6% |
| Holds USD account | Yes | No |
| Market data fees | $27.5/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $60 | $59.95 |
| Corporate action fees | Fail fee $110 or 0.11% daily for unsettled trades; corporate action handling generally pass-through via CHESS sponsorship | — |
| costs visible | ||
| ASX brokerage minimum | $5 | $11 |
| ASX brokerage percentage | 10% | 0.1% |
| ASX brokerage threshold | $25,000 | $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) |
| US brokerage minimum | US$0 | US$0 |
| US brokerage percentage | — | 0% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $15 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | $0 |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | CMC Markets Stockbroking Limited |
| AFSL number | 314,341 | 246,381 |
| Year founded | 2,007 | 1,989 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | CMC Markets plc (LSE: CMCX) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, Bank transfer (EFT), Direct credit | PayID, Bank transfer (EFT), BPAY |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-2 business days | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | — | No |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS | authenticator app |
| Customer support channels | phone, email, online forms | phone, email, live chat |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | Monday-Friday, business hours AET (approx 8am-6pm) |
| Education content | basic articles | structured courses |
| 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 | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | — | Yes |
| Auto-invest sophistication | none | single asset |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | — | No |