Share Trading comparison
CMC Invest vs Stake
The biggest practical difference between CMC Invest and Stake comes down to CHESS sponsorship versus custodian-style US trading. CMC Invest is fully CHESS-sponsored for ASX trades — you get your own HIN and direct ownership of Australian shares. Stake uses a mixed model: CHESS for ASX but a custodian arrangement for US stocks, though it does offer a USD account to sidestep FX fees on US trades.
Choose
CMC Invest
if…
- ›You want $0 brokerage on ASX trades up to $1,000 per security per day — ideal for dollar-cost averaging into ETFs or blue chips
- ›You need a CHESS-sponsored HIN for every ASX holding, giving you direct share ownership and control
- ›You trade international markets beyond the US — CMC covers 15 countries including the UK, Japan, Germany and Canada
- ›You want dividend reinvestment plans (DRP) handled automatically within the platform
- ›You need joint accounts, kids/minor accounts, or conditional order types like stop-loss and OCO
Choose
Stake
if…
- ›You trade US stocks regularly and want a dedicated USD account to avoid repeated FX conversion fees
- ›You want fractional US shares — Stake lets you buy slices of US stocks from $20
- ›You prefer a modern, app-first experience with Apple Pay, Google Pay and card deposits for fast funding
- ›You want the cheapest flat-rate ASX brokerage at $3 per trade (up to $30,000) with no inactivity fee
- ›You need after-hours trading access for US markets
Where they differ
| Fact | CMC Invest | Stake |
|---|---|---|
| ASX brokerage (minimum) | $11 | $3 |
| ASX free trades | $0 on first buy per security per day up to $1,000 | No free trades (12-month waiver on transferred holdings only) |
| US brokerage | $0 (0.006% FX spread, no USD account) | $3 USD (0.0055% FX spread, USD account available) |
| Fractional US shares | Not offered | Yes, from $20 |
| International markets | 15 countries (UK, Japan, Canada, Europe, Asia) | US only |
Verdict
Choose CMC Invest for CHESS-sponsored ASX investing with free small trades; choose Stake for cheap US trading and fractional shares.
Cost calculator
What would CMC Invest vs Stake 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 | Stake |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | mixed |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | 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 | United Kingdom, Canada, Japan, Germany, France, Netherlands, Belgium, Spain, Switzerland, Sweden, Denmark, Norway, Singapore, Hong Kong, New Zealand | United States |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | No | Yes |
| IPO access | Yes | — |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.55% |
| FX spread (other currencies) | 0.6% | — |
| Holds USD account | No | Yes |
| FX currency switch trick | — | Yes |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| Corporate action fees | — | Corporate actions (dividends, SPPs, rights issues, takeovers) are passed through where mandatory; Stake does not provide a DRP — investors must elect DRP directly with each company's share registry. No published per-event fee. |
| costs visible | ||
| ASX brokerage minimum | $11 | $3 |
| ASX brokerage percentage | 0.1% | 0.01% |
| ASX brokerage threshold | $1,000 | $30,000 |
| 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) | No free-trade promotion ordinarily offered; brokerage waived for 12 months on transferred ASX holdings worth A$1,000+ |
| US brokerage minimum | US$0 | US$3 |
| US brokerage percentage | 0% | 0.01% |
| 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 | Stakeshop Pty Ltd |
| AFSL number | 246,381 | 548,196 |
| Year founded | 1,989 | 2,017 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | Privately held (Stakeshop AFSL Pty Ltd group); investors include AGL Energy's former CEO and various private investors |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $20 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | Bank transfer (Osko/PayID), Apple Pay, Google Pay, Debit card, Credit card |
| Settlement period | T+2 for ASX; T+1 for US | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-2 business days | 1-2 business days for AUD (Stake AUS); 2-3 US business days for USD (Stake Wall St) |
| 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 | authenticator app |
| Customer support channels | phone, email, live chat | Email, In-app chat, Help centre |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Business hours AEST/AEDT (approximately Mon-Fri); chat/email response varies |
| Education content | structured courses | structured courses |
| 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 | No |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | single asset | none |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |