Share Trading comparison
CMC Invest vs nabtrade
CMC Invest and nabtrade both offer CHESS-sponsored ASX trading, but the gap in costs is enormous. CMC gives you $0 brokerage on ASX buys up to $1,000 per security per day, plus zero platform fees and free US trades. nabtrade charges a minimum $9.95 on ASX trades, a $19.95/month market data fee, and a 0.8% FX spread on US stocks — making it significantly more expensive for most investors.
Choose
CMC Invest
if…
- ›You want zero brokerage on ASX buys under $1,000 per security per day
- ›You trade US stocks regularly and want $0 US brokerage with a tiny 0.006% FX spread
- ›You don't want to pay a monthly market data fee just to see live prices
- ›You want access to 15+ international markets including Japan, Canada and Europe
- ›You're looking for a platform with auto-invest / DCA functionality for regular investing
Choose
nabtrade
if…
- ›You're a NAB customer who wants instant withdrawals to a linked NAB account
- ›You need to trade bonds — nabtrade supports bonds, CMC does not
- ›You prefer a big-bank parent company (NAB) backing the platform
- ›You want a desktop trading platform — though note nabtrade doesn't offer one either (both are web-based)
Where they differ
| Fact | CMC Invest | nabtrade |
|---|---|---|
| ASX brokerage (minimum) | $11 (or $0 on buys ≤$1,000 per security per day) | $9.95 (0.11% up to $20,000) |
| US brokerage | $0 | $9.95 USD minimum (0.11%) |
| FX spread (AUD/USD) | 0.006% | 0.8% |
| Monthly market data fee | $0 | $19.95/month |
| Off-market transfer fee | $0 | $55 |
Verdict
CMC Invest is the cheaper, more global option; nabtrade only makes sense if you're already deep in the NAB ecosystem.
Cost calculator
What would CMC Invest vs nabtrade 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 | nabtrade |
|---|---|---|
| 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 | United Kingdom (LSE), Germany (Xetra), Hong Kong (HKEx) |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 80% |
| FX spread (other currencies) | 0.6% | 80% |
| Holds USD account | No | No |
| Market data fees | $0/month | $19.95/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | $59.95 |
| costs visible | ||
| ASX brokerage minimum | $11 | $9.95 |
| ASX brokerage percentage | 0.1% | 11% |
| ASX brokerage threshold | $1,000 | $20,000 |
| 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$9.95 |
| US brokerage percentage | 0% | 11% |
| Monthly platform fee | $0/month | — |
| Annual platform fee | $0/year | — |
| Inactivity fee | $15 | — |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | $55 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | WealthHub Securities Limited |
| AFSL number | 246,381 | 230,704 |
| Year founded | 1,989 | 2,012 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | National Australia Bank Limited (ASX: NAB) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | Direct credit / EFT, BPAY, Internal transfer from linked NAB account |
| Settlement period | T+2 for ASX; T+1 for US | ASX T+2; US T+1; UK/Germany/HK T+2 |
| Withdrawal time | 1-2 business days | Instant to linked NAB accounts; 1 business day to other Australian banks |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | No | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | SMS + PIN |
| Customer support channels | phone, email, live chat | Phone, Email, Secure messaging (via NAB Internet Banking) |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Mon-Fri 8am-6pm AEST/AEDT (contact centre typically 9am-5pm) |
| Education content | structured courses | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | 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 | Yes | No |
| Auto-invest sophistication | single asset | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |