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VS field	Bell Direct belldirect.com.au ETF BrokerOptions BrokerOption	DEGIRO degiro.com ETF BrokerMulti Asset BrokerETF
Decision summary
Overall score

Trust score	84	100

Cost score	78	92

Platform score	82	92

Withdrawal score	74	89

Best for	Australian ASX stock and ETF investors · Frequent traders who can use Direct Investment Account tiered brokerage · Investors who value Bell Potter research, ETF filters, tax repor…	European self-directed investors seeking low-cost access to stocks and ETFs · Investors who prefer web/mobile platforms and exchange-traded products

Watch out	Needs verification	Needs verification

Trust & regulation
Regulators	Australian Securities and Investments Commission (ASIC) via Australian Financial Services Licence regime Source	Primarily supervised by BaFin and Bundesbank in Germany; Dutch branch registered with DNB and supervised by AFM and DNB. Source
License numbers	AFSL 314341; ABN 74 121 227 905 Source	Financial licence number not disclosed in reviewed official sources. Commercial registrations found: flatexDEGIRO Bank SE HRB 141330 on flatexDEGIRO Bank SE imprint; DEGIRO UK footer states HRB 105687; Dutch Branch KvK 82510245. Source
Regulated entities	Third Party Platform Pty Ltd trading as Bell Direct; ABN 74 121 227 905 Source	DEGIRO is operated by flatexDEGIRO Bank Dutch Branch, a branch of flatexDEGIRO Bank SE; flatexDEGIRO Bank SE is a licensed German bank headquartered in Frankfurt am Main. Source
Negative balance protection	Negative-balance protection is not a stated feature for this stockbroker; margin lending carries margin-call risk. Source	No negative balance protection found. Official account-profile page warns losses can exceed deposit and result in a negative Balance for derivatives, margin and short-selling services; margin profiles are legacy-only. Source
Investor compensation	Australian compensation includes PI insurance/possible NGF claims; US DriveWealth holdings have SIPC protection limits. Source	Cash in flatexDEGIRO Bank SE Cash Account protected up to €100,000 per customer under German Deposit Guarantee Scheme; investor compensation covers up to 90% of non-returned assets, max €20,000 per customer; UK FSCS does not apply. Source
Restricted countries	Primarily Australia-oriented; full country availability not disclosed Source	Available via listed country selector in Europe/UK; US persons are not accepted; UK onboarding for new clients was temporarily unavailable on the reviewed UK page. Source

Trust & regulation

Regulators

Australian Securities and Investments Commission (ASIC) via Australian Financial Services Licence regime

Source

Primarily supervised by BaFin and Bundesbank in Germany; Dutch branch registered with DNB and supervised by AFM and DNB.

Source

License numbers

AFSL 314341; ABN 74 121 227 905

Source

Financial licence number not disclosed in reviewed official sources. Commercial registrations found: flatexDEGIRO Bank SE HRB 141330 on flatexDEGIRO Bank SE imprint; DEGIRO UK footer states HRB 105687; Dutch Branch KvK 82510245.

Source

Regulated entities

Third Party Platform Pty Ltd trading as Bell Direct; ABN 74 121 227 905

Source

DEGIRO is operated by flatexDEGIRO Bank Dutch Branch, a branch of flatexDEGIRO Bank SE; flatexDEGIRO Bank SE is a licensed German bank headquartered in Frankfurt am Main.

Source

Negative balance protection

Negative-balance protection is not a stated feature for this stockbroker; margin lending carries margin-call risk.

Source

No negative balance protection found. Official account-profile page warns losses can exceed deposit and result in a negative Balance for derivatives, margin and short-selling services; margin profiles are legacy-only.

Source

Investor compensation

Australian compensation includes PI insurance/possible NGF claims; US DriveWealth holdings have SIPC protection limits.

Source

Cash in flatexDEGIRO Bank SE Cash Account protected up to €100,000 per customer under German Deposit Guarantee Scheme; investor compensation covers up to 90% of non-returned assets, max €20,000 per customer; UK FSCS does not apply.

Source

Restricted countries

Primarily Australia-oriented; full country availability not disclosed

Source

Available via listed country selector in Europe/UK; US persons are not accepted; UK onboarding for new clients was temporarily unavailable on the reviewed UK page.

Source

Costs & account conditions
Minimum deposit	No minimum balance for Direct Investment Account; US trading has US$300 transfer and buy minimums. Source	No fixed minimum deposit identified; DEGIRO homepage says users can add any amount of money to the account for free. Bank-account verification search result states minimum EUR 0.01 for linking a new bank account. Source
Spread from	Not applicable or not broker-level for this investment-platform profile; review if leveraged products apply. Source	Not a quoted-spread CFD/FX broker field. DEGIRO discloses that bid-ask spreads are implicit market costs and not direct broker costs. Source
Commission	Direct Investment Account Australian equities/ETF brokerage starts at AUD $5 for trades up to $1,000 and scales by size/monthly activity. Source	Examples from UK fee page: US stocks €1 + €1 handling; LSE £1.75 + £1 handling; selected ETFs €0 + €1 handling; global ETFs €2 + €1 handling; options €0.75 commission. Currency, connectivity, external product and spread costs may apply. Source
Maximum leverage	No broker-wide maximum leverage disclosed; margin lending terms are portfolio/security dependent. Source	DEGIRO currently does not allow new changes to margin-trading profiles; legacy Active/Trader/Day Trader accounts may have Debit Money / derivatives risk but maximum leverage was not disclosed in reviewed sources. Source
Deposit fee	Standard deposit fees were not disclosed in checked public fee pages. Source	No deposit fee disclosed on UK fee page and homepage; deposits listed as FEE €0 / no deposit-withdrawal fees. Source
Withdrawal fee	Standard domestic withdrawal fees were not disclosed in checked public fee pages. Source	No withdrawal fee disclosed on UK fee page and homepage; withdrawals listed as FEE €0 / no deposit-withdrawal fees. Source
Inactivity fee	No inactivity fee found in checked public fee schedules. Source	No inactivity fee; UK fee page lists inactivity fee as €0. Source

Costs & account conditions

Minimum deposit

No minimum balance for Direct Investment Account; US trading has US$300 transfer and buy minimums.

Source

No fixed minimum deposit identified; DEGIRO homepage says users can add any amount of money to the account for free. Bank-account verification search result states minimum EUR 0.01 for linking a new bank account.

Source

Spread from

Not applicable or not broker-level for this investment-platform profile; review if leveraged products apply.

Source

Not a quoted-spread CFD/FX broker field. DEGIRO discloses that bid-ask spreads are implicit market costs and not direct broker costs.

Source

Commission

Direct Investment Account Australian equities/ETF brokerage starts at AUD $5 for trades up to $1,000 and scales by size/monthly activity.

Source

Examples from UK fee page: US stocks €1 + €1 handling; LSE £1.75 + £1 handling; selected ETFs €0 + €1 handling; global ETFs €2 + €1 handling; options €0.75 commission. Currency, connectivity, external product and spread costs may apply.

Source

Maximum leverage

No broker-wide maximum leverage disclosed; margin lending terms are portfolio/security dependent.

Source

DEGIRO currently does not allow new changes to margin-trading profiles; legacy Active/Trader/Day Trader accounts may have Debit Money / derivatives risk but maximum leverage was not disclosed in reviewed sources.

Source

Deposit fee

Standard deposit fees were not disclosed in checked public fee pages.

Source

No deposit fee disclosed on UK fee page and homepage; deposits listed as FEE €0 / no deposit-withdrawal fees.

Source

Withdrawal fee

Standard domestic withdrawal fees were not disclosed in checked public fee pages.

Source

No withdrawal fee disclosed on UK fee page and homepage; withdrawals listed as FEE €0 / no deposit-withdrawal fees.

Source

Inactivity fee

No inactivity fee found in checked public fee schedules.

Source

No inactivity fee; UK fee page lists inactivity fee as €0.

Source

Markets, platforms & payments
Tradable assets	ASX securities, equities, ETFs, warrants, interest-rate securities/XTBs, ETOs, IPOs, US shares/ETFs/ETNs/ADRs, and mFunds subject to transition. Source	Shares, ETFs, bonds and derivatives such as options and futures; DEGIRO product pages also describe investment funds availability. Source
Trading platforms	Website, supported mobile devices/smartphone app and WebIRESS are disclosed order channels. Source	DEGIRO provides a web/desktop trading platform (Webtrader) and mobile apps for iOS and Android. Source
Account types	Domestic accounts support investors, companies, trusts and SMSFs; US trading currently limited to eligible individual accounts. Source	DEGIRO account/profile types include Basic, Active, Trader, Day Trader and Custody. Active, Trader and Day Trader are legacy-only and new margin profiles are no longer available. Source
Deposit methods	Funding is via Direct Investment Account/Bell Financial Trust or Macquarie CMA; US trading uses AUD-to-USD transfer inside the platform. Source	Manual bank transfer from a verified linked/reference bank account; deposits must use the account base currency. Source
Withdrawal methods	Withdrawals go to a nominated external bank account; USD can be converted back to AUD before domestic withdrawal. Source	Withdrawals go back to the primary registered/linked bank account; only uninvested cash in the Cash Account can be withdrawn. Source
Withdrawal processing time	Domestic withdrawal processing is same day before 2:30pm AEDT, with funds expected next working day; after cutoff, processed next business day. Source	Withdrawals may take up to 2-4 working days; transfers can take up to 2-3 working days to complete. Source

Markets, platforms & payments

Tradable assets

ASX securities, equities, ETFs, warrants, interest-rate securities/XTBs, ETOs, IPOs, US shares/ETFs/ETNs/ADRs, and mFunds subject to transition.

Source

Shares, ETFs, bonds and derivatives such as options and futures; DEGIRO product pages also describe investment funds availability.

Source

Trading platforms

Website, supported mobile devices/smartphone app and WebIRESS are disclosed order channels.

Source

DEGIRO provides a web/desktop trading platform (Webtrader) and mobile apps for iOS and Android.

Source

Account types

Domestic accounts support investors, companies, trusts and SMSFs; US trading currently limited to eligible individual accounts.

Source

DEGIRO account/profile types include Basic, Active, Trader, Day Trader and Custody. Active, Trader and Day Trader are legacy-only and new margin profiles are no longer available.

Source

Deposit methods

Funding is via Direct Investment Account/Bell Financial Trust or Macquarie CMA; US trading uses AUD-to-USD transfer inside the platform.

Source

Manual bank transfer from a verified linked/reference bank account; deposits must use the account base currency.

Source

Withdrawal methods

Withdrawals go to a nominated external bank account; USD can be converted back to AUD before domestic withdrawal.

Source

Withdrawals go back to the primary registered/linked bank account; only uninvested cash in the Cash Account can be withdrawn.

Source

Withdrawal processing time

Domestic withdrawal processing is same day before 2:30pm AEDT, with funds expected next working day; after cutoff, processed next business day.

Source

Withdrawals may take up to 2-4 working days; transfers can take up to 2-3 working days to complete.

Source

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