Share Trading comparison
CMC Invest vs Pearler
CMC Invest and Pearler both target long-term Australian investors, but they differ sharply in philosophy. CMC is a full-featured broker from a listed UK parent with CHESS sponsorship, zero brokerage on small ASX buys, and access to 15 global markets. Pearler is a younger, app-first platform built around automated investing and community, with US fractional shares and a lower flat brokerage fee — but it uses a custodian model for US trades.
Choose
CMC Invest
if…
- ›You want CHESS-sponsored ownership with your own HIN for every ASX trade
- ›You plan to buy ASX stocks in small parcels — first buy per security per day under $1,000 costs $0
- ›You need access to international markets beyond the US and Australia, including the UK, Japan, and Europe
- ›You trade options or want IPO access
- ›You want a desktop trading platform alongside the mobile app
Choose
Pearler
if…
- ›You want the lowest flat ASX brokerage at $6.50 per trade regardless of size
- ›You want to buy US stocks fractionally — Pearler lets you invest as little as $1 in US shares
- ›You value automated portfolio rebalancing and community-driven investing features
- ›You don't want to pay an inactivity fee — Pearler charges $0 for inactivity, CMC charges $15
- ›You prefer a modern, mobile-first experience with in-app support and PayTo deposits
Where they differ
| Fact | CMC Invest | Pearler |
|---|---|---|
| ASX brokerage (small trades) | $0 on first ASX buy per security per day up to $1,000 | Flat $6.50 on all ASX trades |
| US fractional shares | Not supported | Supported |
| Inactivity fee | $15 if no trade in 12 months | $0 |
| International markets | 15 countries including UK, Japan, Canada, Europe, NZ | ASX and US only |
| Auto-invest sophistication | Single asset (one ETF or stock per auto-invest plan) | Portfolio-level rebalancing |
Verdict
Choose CMC for CHESS-sponsored global trading with free small ASX buys; choose Pearler for lower flat fees, US fractional shares, and smarter auto-investing.
Cost calculator
What would CMC Invest 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 | CMC Invest | 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 | 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 | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | No | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.5% |
| FX spread (other currencies) | 0.6% | — |
| Holds USD account | No | No |
| FX currency switch trick | — | No |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | — |
| Phone trade surcharge | $59.95 | — |
| costs visible | ||
| ASX brokerage minimum | $11 | $6.5 |
| ASX brokerage percentage | 0.1% | — |
| ASX brokerage threshold | $1,000 | — |
| 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$6.5 |
| US brokerage percentage | 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 | $0 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Pearler Investments Pty Ltd |
| AFSL number | 246,381 | 337,927 |
| Year founded | 1,989 | 2,018 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | Privately held (founder-led); backed by investors including AfterWork Ventures |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | PayID, Osko, Bank transfer, PayTo (direct debit replacement) |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | No | No |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | authenticator app | authenticator_app |
| Customer support channels | phone, email, live chat | email, phone, in-app |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Mon-Fri 9am-5pm AET |
| Education content | structured courses | video_and_courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | 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 | Yes | Yes |
| Auto-invest sophistication | single asset | rebalancing |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |