Share Trading comparison
CMC Invest vs tastytrade
CMC Invest and tastytrade serve completely different investors. CMC Invest is a full-service Australian broker with CHESS sponsorship, ASX trading, and a $0 brokerage offer on small ASX buys. tastytrade is a US-based options specialist with zero-commission US trading but no ASX access at all. The biggest practical difference: CMC Invest lets you buy Australian shares under your own HIN; tastytrade is built for active US options traders who don't need local stocks.
Choose
CMC Invest
if…
- ›You want to buy ASX shares and ETFs under your own HIN with CHESS sponsorship
- ›You want $0 brokerage on ASX buys up to $1,000 per security per day
- ›You need a single platform for ASX, US, UK, European, and Asian markets
- ›You want auto-invest / DCA features, DRP, and a full Australian tax statement with CGT reports
- ›You need an SMSF or kids/minor account type
Choose
tastytrade
if…
- ›You trade US options actively and want zero-commission US stock and options trades
- ›You want a US-dollar account to avoid FX conversion on every trade
- ›You need after-hours / overnight US trading capability
- ›You want a demo account to practice options strategies before committing real money
- ›You don't need ASX trading at all and prefer a US broker with no inactivity fees
Where they differ
| Fact | CMC Invest | tastytrade |
|---|---|---|
| ASX trading | Yes — CHESS sponsored, individual HIN | No — tastytrade does not offer ASX trading |
| US brokerage | $0 (but FX spread of 0.006% applies) | $0 (holds USD account, so no FX on US trades) |
| Inactivity fee | $15 AUD | $0 AUD |
| Minimum initial deposit | $500 AUD | $0 AUD |
| Support hours (AU time) | Monday-Friday, ~8am-6pm AET | ~10pm-8am AET — no AU business-hours coverage |
Verdict
Choose CMC Invest for ASX and multi-market investing under your own HIN; choose tastytrade for active US options trading with zero commissions.
Cost calculator
What would CMC Invest vs tastytrade actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | CMC Invest | tastytrade |
|---|---|---|
| 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 | No |
| Kids / minor account | Yes | No |
| asset coverage | ||
| ASX shares supported | Yes | No |
| ASX ETFs supported | Yes | No |
| 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 | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | No |
| Bonds supported | No | Yes |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | — |
| FX spread (other currencies) | 0.6% | — |
| Holds USD account | No | Yes |
| FX currency switch trick | — | No |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| Corporate action fees | — | Standard US corporate action processing applies (dividends, splits, mergers). Mandatory corporate actions are processed at no fee; voluntary corporate actions (e.g. tender offers) may incur a fee per tastytrade's fee schedule. |
| costs visible | ||
| ASX brokerage minimum | $11 | — |
| 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) | Not applicable — tastytrade does not offer ASX trading. |
| 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 | — |
| Off-market transfer fee | $0 | — |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | tastytrade, Inc. |
| AFSL number | 246,381 | — |
| Year founded | 1,989 | 2,017 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | IG Group Holdings plc (LSE: IGG) |
| Country of incorporation | AU | US |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $0 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | international wire (USD), ACH (US only), check (US only) |
| Settlement period | T+2 for ASX; T+1 for US | T+1 (US equities/ETFs, from May 2024) |
| Withdrawal time | 1-2 business days | International wire withdrawals to AU typically 3-5 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 | Yes |
| Free research reports | Yes | No |
| 2FA support | authenticator app | authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Monday-Friday, approx. 7am-5pm US Central Time = approx. 10pm-8am AET (next day). Weekend support limited. No AU business-hours coverage. |
| Education content | structured courses | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| 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 | No |
| After-hours / overnight trading | No | Yes |