Share Trading comparison
nabtrade vs Pearler
The biggest practical difference between nabtrade and Pearler is how you hold your shares. nabtrade is fully CHESS-sponsored, meaning you get a HIN and shares are registered in your name on the ASX. Pearler uses a mixed model — it offers CHESS sponsorship for ASX trades but holds US shares in custody, and its auto-invest features are far more advanced.
Choose
nabtrade
if…
- ›You want CHESS sponsorship with your own HIN for every ASX trade — nabtrade is fully CHESS-sponsored with no custodian layer
- ›You trade international markets beyond the US, including the UK, Germany and Hong Kong
- ›You need options trading, bonds, managed funds or IPO access — nabtrade offers a full product suite
- ›You want free real-time ASX data and research reports included in the platform
- ›You prefer the backing of a Big Four bank (NAB) with instant withdrawals to linked NAB accounts
Choose
Pearler
if…
- ›You want the lowest ASX brokerage — Pearler's $6.50 flat fee beats nabtrade's $9.95 minimum
- ›You plan to dollar-cost average regularly — Pearler's auto-invest supports rebalancing and scheduled buys
- ›You buy US stocks in small amounts — Pearler offers fractional US shares, nabtrade does not
- ›You want to avoid monthly fees — Pearler charges $0 for market data, nabtrade charges $19.95/month
- ›You care about FX costs — Pearler's 0.005% FX spread is dramatically cheaper than nabtrade's 0.8%
Where they differ
| Fact | nabtrade | Pearler |
|---|---|---|
| ASX brokerage minimum | $9.95 | $6.50 |
| FX spread (AUD/USD) | 0.8% | 0.005% |
| Market data fees | $19.95/month | $0/month |
| Auto-invest / DCA | Not supported | Supported with rebalancing |
| CHESS sponsorship model | Full CHESS (individual HIN) | Mixed (CHESS for ASX, custodian for US) |
Verdict
Choose nabtrade for full CHESS sponsorship and bank-backed breadth; choose Pearler for cheaper trades, automated investing and far lower FX costs.
Cost calculator
What would nabtrade 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 | nabtrade | 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 (LSE), Germany (Xetra), Hong Kong (HKEx) | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | No |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 80% | 0.5% |
| FX spread (other currencies) | 80% | — |
| Holds USD account | No | No |
| FX currency switch trick | — | No |
| Market data fees | $19.95/month | $0/month |
| Conditional order fees | $0 | — |
| Phone trade surcharge | $59.95 | — |
| costs visible | ||
| ASX brokerage minimum | $9.95 | $6.5 |
| ASX brokerage percentage | 11% | — |
| ASX brokerage threshold | $20,000 | — |
| US brokerage minimum | US$9.95 | US$6.5 |
| US brokerage percentage | 11% | — |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $55 | $0 |
| identity and trust | ||
| Legal entity name | WealthHub Securities Limited | Pearler Investments Pty Ltd |
| AFSL number | 230,704 | 337,927 |
| Year founded | 2,012 | 2,018 |
| Parent / ownership | National Australia Bank Limited (ASX: NAB) | 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 | Direct credit / EFT, BPAY, Internal transfer from linked NAB account | PayID, Osko, Bank transfer, PayTo (direct debit replacement) |
| Settlement period | ASX T+2; US T+1; UK/Germany/HK T+2 | T+2 (ASX), T+1 (US) |
| Withdrawal time | Instant to linked NAB accounts; 1 business day to other Australian banks | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | No |
| Demo account | No | No |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | SMS + PIN | authenticator_app |
| Customer support channels | Phone, Email, Secure messaging (via NAB Internet Banking) | email, phone, in-app |
| Support hours (AU time) | Mon-Fri 8am-6pm AEST/AEDT (contact centre typically 9am-5pm) | Mon-Fri 9am-5pm AET |
| Education content | structured | video_and_courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | No | 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 | No | Yes |
| Auto-invest sophistication | none | rebalancing |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |