Share Trading comparison
Bendigo Invest Direct vs Pearler
The biggest difference between Bendigo Invest Direct and Pearler is how you trade. Bendigo is a full-service CHESS-sponsored broker backed by a major bank, with access to 15 global markets, options trading, and IPOs — but it charges $19.95 per ASX trade. Pearler is a modern, community-focused platform built for long-term investors, with cheap ASX trades at $6.50, fractional US shares, and automated investing — but it holds US assets in custody rather than under your HIN.
Choose
Bendigo Invest Direct
if…
- ›You want CHESS sponsorship and your own HIN for every trade on the ASX
- ›You trade options, IPOs, bonds, or managed funds alongside shares
- ›You need access to 15 international markets including the UK, Japan, and Europe
- ›You want free real-time market data and research reports included
- ›You trade large ASX parcels — the 0.11% rate above $22,000 makes it cheaper than Pearler on big orders
Choose
Pearler
if…
- ›You want the lowest ASX brokerage at $6.50 per trade regardless of size
- ›You want to automate your investing with auto-deposits and rebalancing
- ›You want fractional US shares so you can buy $50 of a $500 stock
- ›You want zero fees for withdrawals, transfers, or inactivity
- ›You value a modern app with video education and a community of like-minded long-term investors
Where they differ
| Fact | Bendigo Invest Direct | Pearler |
|---|---|---|
| ASX brokerage (minimum) | $19.95 | $6.50 |
| US fractional shares | Not supported | Supported |
| CHESS sponsorship model | Full CHESS (your HIN for all ASX holdings) | Mixed — US holdings held in custody, ASX under your HIN |
| Auto-invest / DCA | Not supported | Supported with rebalancing |
| Withdrawal fee | $35 | $0 |
Verdict
Choose Bendigo for full CHESS, global markets, and options; choose Pearler for low-cost, automated, long-term investing.
Cost calculator
What would Bendigo Invest Direct vs Pearler 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 | Pearler |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | mixed |
| 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 |
| 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | 0.5% |
| FX spread (other currencies) | 0.7% | — |
| Holds USD account | No | No |
| FX currency switch trick | — | No |
| Market data fees | $41.25/month | $0/month |
| Conditional order fees | $0 | — |
| Phone trade surcharge | $50 | — |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | — |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $6.5 |
| ASX brokerage percentage | 0.11% | — |
| ASX brokerage threshold | $22,000 | — |
| US brokerage minimum | US$0 | US$6.5 |
| US brokerage percentage | 0% | — |
| 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 | Pearler Investments Pty Ltd |
| AFSL number | 246,381 | 337,927 |
| Year founded | — | 2,018 |
| 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) | Privately held (founder-led); backed by investors including AfterWork Ventures |
| Country of incorporation | AU | AU |
| Public company status | public (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | private |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | PayID, Osko, Bank transfer, PayTo (direct debit replacement) |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 (ASX), T+1 (US) |
| Withdrawal time | — | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | — | No |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | — | authenticator_app |
| Customer support channels | phone, email, live_chat, in_app | email, phone, in-app |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | Mon-Fri 9am-5pm AET |
| Education content | basic_articles | video_and_courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | — | Yes |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | No |
| Conditional orders | Yes | No |
| Auto-invest / DCA | No | Yes |
| Auto-invest sophistication | none | rebalancing |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |