Share Trading comparison
CMC Invest vs IG Australia
The biggest practical difference between CMC Invest and IG Australia comes down to ownership structure. CMC is CHESS-sponsored, meaning you get your own HIN and shares are held in your name. IG uses a custodial model, so IG (via Citicorp Nominees) holds the legal title. That distinction ripples through everything from fees to features.
Choose
CMC Invest
if…
- ›You want CHESS sponsorship and your own HIN — CMC puts shares directly in your name on the ASX register
- ›You trade smaller ASX parcels regularly — CMC gives you $0 brokerage on the first buy order per security per day up to $1,000
- ›You want options trading, managed funds, or auto-invest/DCA — CMC supports all three; IG doesn't
- ›You want dividend reinvestment plans (DRPs) — CMC offers them; IG does not
- ›You want free real-time market data and structured education courses included
Choose
IG Australia
if…
- ›You want true $0 ASX brokerage with no trade-size cap — IG charges zero commission on all ASX trades (a 0.25% p.a. platform fee applies on holdings instead)
- ›You want to trade after hours or use CFDs — IG supports overnight trading and CFD products; CMC doesn't offer either
- ›You want a USD sub-account and flexible deposits — IG holds USD directly and accepts credit card, PayPal, Apple Pay, and Google Pay
- ›You want zero inactivity fees and no minimum deposit — IG charges no inactivity fee and has no minimum to start
- ›You want to test-drive the platform first — IG offers a demo account; CMC does not
Where they differ
| Fact | CMC Invest | IG Australia |
|---|---|---|
| CHESS sponsorship | CHESS-sponsored (individual HIN) | Custodial model (no HIN) |
| ASX brokerage model | $0 on first ASX buy per security per day up to $1,000, then $11 or 0.1% | $0 on all ASX trades (0.25% p.a. platform fee on holdings) |
| Inactivity fee | $15 | $0 |
| Options trading | Supported | Not supported |
| Auto-invest / DRP | Auto-invest (single asset) and DRP supported | Neither auto-invest nor DRP supported |
Verdict
Choose CMC if you want CHESS ownership and a feature-rich platform; choose IG if you prefer zero-commission ASX trading and don't mind custody.
Cost calculator
What would CMC Invest vs IG 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 | CMC Invest | IG 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 | 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 | United Kingdom, Germany, Ireland |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | No |
| Options trading | Yes | No |
| CFDs supported | No | Yes |
| Managed funds | Yes | No |
| Bonds supported | No | No |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.7% |
| FX spread (other currencies) | 0.6% | 0.7% |
| Holds USD account | No | Yes |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| Corporate action fees | — | Corporate actions (dividends, splits, rights issues, takeovers) for shares held in custody are processed by IG via Citicorp Nominees; cash dividends are credited net of withholding to client ledger. SPP/rights elections are limited under the custodial model and detailed fees are disclosed in the IG Share Trading Customer Agreement / FSG. |
| costs visible | ||
| ASX brokerage minimum | $11 | $0 |
| ASX brokerage percentage | 0.1% | 0% |
| ASX brokerage threshold | $1,000 | $10,000 |
| 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) | $0 commission on all ASX shares and ETFs on the IG Share Trading account (no conditions/minimum trade count). A 0.25% p.a. platform fee on holdings value applies; 0.7% FX fee applies to international trades. |
| US brokerage minimum | US$0 | US$0 |
| US brokerage percentage | 0% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $15 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | — |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | IG Australia Pty Ltd |
| AFSL number | 246,381 | 515,106 |
| Year founded | 1,989 | 2,002 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | IG Group Holdings plc (LSE: IGG) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | $0 | — |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | bank transfer, BPAY, debit card, credit card, PayPal, Apple Pay, Google Pay |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days | 1-3 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat, social media |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | 24/5 Monday to Friday (closed weekends) |
| Education content | structured courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | — |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | Yes | — |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | single asset | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |