Share Trading comparison
Bell Direct vs CommSec
Bell Direct and CommSec both offer CHESS-sponsored ASX trading with a $5 minimum brokerage, but the similarities end there. CommSec is the 800-pound gorilla — backed by the Commonwealth Bank, with zero market data fees and a massive international market reach. Bell Direct is the leaner challenger, undercutting on US brokerage (free vs $5 USD) and offering fractional US shares, but charging $27.50/month for live data.
Choose
Bell Direct
if…
- ›You want zero brokerage on US stocks — Bell Direct charges $0 USD minimum vs CommSec's $5 USD.
- ›You want fractional US shares, which Bell Direct supports and CommSec does not.
- ›You need a CGT calculator and distribution component breakdown built into the platform — Bell Direct includes both; CommSec offers neither.
- ›You're comfortable paying $27.50/month for live market data and prefer a desktop trading platform over a mobile-only experience.
Choose
CommSec
if…
- ›You want free real-time ASX market data — CommSec includes it at no cost; Bell Direct charges $27.50/month.
- ›You trade international markets beyond the US — CommSec covers 13 countries including the UK, Canada, Japan and Hong Kong; Bell Direct only offers US.
- ›You want a tighter FX spread on US trades — CommSec's 0.0055% spread is dramatically cheaper than Bell Direct's 0.6%.
- ›You bank with CBA and want instant same-day withdrawals via CDIA, plus the convenience of depositing at any CBA branch or ATM.
Where they differ
| Fact | Bell Direct | CommSec |
|---|---|---|
| US brokerage minimum | $0 USD | $5 USD |
| FX spread (AUD/USD) | 0.6% | 0.0055% |
| Market data fees | $27.50/month | $0/month |
| International markets | US only | 13 countries including US, UK, Canada, Japan, Hong Kong |
| CGT calculator | Included | Not available |
Verdict
Pick Bell Direct for cheap US shares and better tax tools; pick CommSec for free data, global markets, and CBA integration.
Cost calculator
What would Bell Direct vs CommSec 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 | CommSec |
|---|---|---|
| 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 States, Canada, United Kingdom, France, Germany, Italy, Netherlands, Hong Kong, Japan, Belgium, Norway, Spain, Sweden | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 0.55% |
| FX spread (other currencies) | — | 0.55% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | — | 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 | Corporate actions (SPP, rights issue, takeovers, demergers, dividend payments) are not separately charged by CommSec. They are processed via the share registry/issuer. CommSec does not send trade confirmations for off-market events, so Sharesight/other tracker sync requires manual updates. Failed-settlement fees apply if payment is late ($10 minimum or 0.66% above $1,500). |
| costs visible | ||
| ASX brokerage minimum | $5 | $5 |
| ASX brokerage percentage | 10% | 0.12% |
| ASX brokerage threshold | $25,000 | $25,000 |
| ASX free trade conditions | — | Conditional: $5 minimum requires linked CDIA (Commonwealth Direct Investment Account) or CommSec Margin Loan as the settlement account AND CHESS sponsorship with CommSec. Without CDIA linkage, brokerage starts at $29.95 for trades up to $9,999.99 and 0.31% above. Promotional $0 brokerage offers occasionally run for new customers (e.g. 30 free trades up to $50,000 each, May–Nov 2026 offer for new sign-ups). |
| US brokerage minimum | US$0 | US$5 |
| US brokerage percentage | — | 0.12% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | $54 |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | Commonwealth Securities Limited |
| AFSL number | 314,341 | 238,814 |
| Year founded | 2,007 | 1,995 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | Commonwealth Bank of Australia (ASX: CBA) |
| 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 | BPAY, Direct debit, Bank transfer (CDIA), Cheque, Cash deposit (CBA branch/ATM) |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 (ASX) / T+1 (US) |
| Withdrawal time | 1-2 business days | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | — | No |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS | SMS + authenticator |
| Customer support channels | phone, email, online forms | phone, email, live chat (in-app), secure mail (in-platform), social media (X, Instagram) |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | Phone 8am-6pm Mon-Fri Sydney time (general & options); extended trading-hours support during ASX session. No 24/7 support. |
| Education content | basic articles | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | No |
| CGT calculator / report | Yes | No |
| 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 | — | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | — | Yes |