Share Trading comparison
Bendigo Invest Direct vs Interactive Brokers Australia
The biggest practical difference between Bendigo Invest Direct and Interactive Brokers is ownership structure. Bendigo Invest Direct is a CHESS-sponsored broker backed by Bendigo Bank, meaning you get your own HIN and shares are held in your name. Interactive Brokers is a custodian model — cheaper and more powerful, but your ASX holdings are held in IBKR's name, not your own HIN.
Choose
Bendigo Invest Direct
if…
- ›You want CHESS sponsorship and your own HIN so ASX shares are held directly in your name
- ›You're a set-and-forget investor who values a simple bank-backed platform with no monthly fees
- ›You want access to IPOs and managed funds alongside standard shares and ETFs
- ›You prefer paying a flat $19.95 ASX brokerage and don't mind paying $35 to withdraw cash
- ›You want free real-time ASX market data included without any subscription
Choose
Interactive Brokers Australia
if…
- ›You trade frequently and want ASX brokerage from just $6 and US trades from $1 USD
- ›You need access to 30+ global markets and want to hold USD in a dedicated sub-account
- ›You want to automate investing with sophisticated DCA rules and fractional US shares
- ›You trade after hours or need 24/5 customer support with a professional-grade trading platform
- ›You want zero withdrawal fees, zero inactivity fees, and no minimum deposit to get started
Where they differ
| Fact | Bendigo Invest Direct | Interactive Brokers Australia |
|---|---|---|
| ASX brokerage minimum | $19.95 | $6 |
| CHESS sponsorship | CHESS — individual HIN | Custodian — no individual HIN |
| US brokerage minimum | $0 USD | $1 USD |
| FX spread (AUD/USD) | 0.007% | 0.00002% |
| Auto-invest / DCA | Not supported | Supported with multiple rules |
Verdict
Choose Bendigo for CHESS ownership and simplicity; choose Interactive Brokers for lower costs, global access, and automation.
Cost calculator
What would Bendigo Invest Direct vs Interactive Brokers Australia 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 | Bendigo Invest Direct | Interactive Brokers Australia |
|---|---|---|
| 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 | — | No |
| 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 | UK, JP, CA, DE, FR, HK, SG, NZ, NL, BE, PT, ES, IT, NO, SE | US, Canada, UK, Ireland, Germany, France, Netherlands, Belgium, Spain, Italy, Switzerland, Austria, Sweden, Norway, Denmark, Finland, Poland, Czechia, Hungary, Israel, Hong Kong, Japan, Singapore, China (Stock Connect), South Korea, India, Indonesia, Thailand, Malaysia, Australia, New Zealand, South Africa, Mexico |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | Yes |
| Managed funds | Yes | No |
| Bonds supported | Yes | Yes |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | 0.002% |
| FX spread (other currencies) | 0.7% | 0.002% |
| Holds USD account | No | Yes |
| FX currency switch trick | — | No |
| Market data fees | $41.25/month | — |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $50 | — |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | Corporate action processing is generally fee-free for standard events (dividends, splits, mergers). Some voluntary corporate actions and ADR pass-through fees apply per the published fee schedule. Mandatory reorganisations are processed at no charge. |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $6 |
| ASX brokerage percentage | 0.11% | 0.08% |
| ASX brokerage threshold | $22,000 | — |
| US brokerage minimum | US$0 | US$1 |
| US brokerage percentage | 0% | 0.05% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | $35 | $0 |
| Off-market transfer fee | $55 | $0 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Interactive Brokers Australia Pty Ltd |
| AFSL number | 246,381 | 453,554 |
| Year founded | — | 1,978 |
| Parent / ownership | Bendigo and Adelaide Bank Limited (ABN 11 068 049 178); service operated by CMC Markets Stockbroking Limited, a member of the CMC Markets Group (CMC Markets plc, LSE-listed) | Interactive Brokers Group, Inc. (NASDAQ: IBKR) |
| Country of incorporation | AU | AU |
| Public company status | public (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | public |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | Bank transfer (EFT), BPAY, International wire (SWIFT) |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 for ASX, T+1 for US equities |
| Withdrawal time | — | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | — | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | Yes |
| 2FA support | — | authenticator app |
| Customer support channels | phone, email, live_chat, in_app | phone, email, live chat, in-app secure message |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | 24 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight |
| Education content | basic_articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | — | No |
| 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 | No | Yes |
| Auto-invest sophistication | none | multiple |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |
Visit
Bendigo Invest Direct
www.bendigobank.com.au
Visit
Interactive Brokers Australia
www.interactivebrokers.com.au