Volatility vs Bell Direct
Move beyond the options order ticket.
Bell Direct offers online exchange-traded options. Volatility gives active ASX options traders a purpose-built path from analysis and strategy construction through execution and ongoing risk management.
See why options traders switch
Why Volatility
Bring the analysis and the options order together.
Volatility is designed for traders who want options analytics and multi-leg workflows to be part of the platform—not a separate calculation before placing an order.
- 01
Multi-leg execution
Build and execute strategies with up to four options legs as one combination order.
- 02
Market-maker pricing
Request pricing for single options and combination orders directly through the platform.
- 03
Live options analytics
See theoretical value, Greeks and implied volatility inside the trading workflow.
- 04
Risk before execution
Use payoff diagrams, what-if margin and stress testing before committing capital.
- 05
Portfolio-level control
Manage options positions by strategy, expiry and underlying instead of isolated order tickets.
One continuous workflow
From market view to managed position.
Keep the options decision process connected from the first market view through execution and ongoing risk management.
- 01
Analyse
Read theoretical value, Greeks and implied volatility before choosing a structure.
- 02
Build
Create single-leg or multi-leg strategies and see the payoff before placing the order.
- 03
Price
Request pricing for a single option or combination order from ASX market makers.
- 04
Execute
Send an options strategy to market without re-keying each leg into another tool.
- 05
Manage
Track portfolio risk, margin and changing market conditions after execution.
Two products
Priced for how they're traded.
We price shares like shares—and options like strategies.
Equities brokerage
$19.95or 0.12%
CHESS-sponsored ownership, a Macquarie Cash Management Account and custom pricing available.
Options brokerage
Covered calls & puts
$3.50per contract
Other options strategies
$24.95or 0.24%
Level 3 Options Pack required for the $24.95 / 0.24% rate. Other ASX fees apply. Prices include GST.
Volatility Pro's published brokerage for eligible options strategies is lower than Bell Direct's standard published online ETO rate as at the review date. Total cost depends on your plan, order and trading activity.
View full pricing and conditionsMoving your portfolio
Keep the move clear.
Eligible CHESS-sponsored holdings can generally be considered for a broker-to-broker HIN transfer. Contact the Volatility onboarding team to check account names, settlement and open positions first.
Ask about transferringQuestions about switching from Bell Direct
Is Volatility better than Bell Direct for ASX options trading?
Volatility is designed for active ASX options traders who want multi-leg execution, live options analytics, stress testing and portfolio risk in the same workflow. Whether it is the better fit depends on the products, tools, pricing plan and support you need.
Can I trade equities with Volatility as well as options?
Yes. Volatility provides equities brokerage and ASX options brokerage as two distinct products within the account. Equities and options use different pricing structures because they are traded differently.
Is Volatility cheaper than Bell Direct?
Volatility Pro's published brokerage for eligible options strategies is lower than Bell Direct's standard published online ETO rate as at the review date. Volatility is not positioned as the cheapest broker for every transaction, and total cost depends on the selected plan, order value, strategy, contract count and exchange fees.
Can I transfer my HIN from Bell Direct to Volatility?
Eligible CHESS-sponsored holdings can generally be considered for a broker-to-broker HIN transfer. Contact the Volatility onboarding team to check account names, settlement and open positions first.
Can I trade covered calls and multi-leg strategies with Volatility?
Eligible clients can trade covered calls and use Volatility's multi-leg workflow to build strategies with up to four options legs. Options access and strategy levels remain subject to account eligibility and applicable target-market requirements.
How this comparison was prepared
Last fact-checked 17 July 2026. Volatility prepared this page and offers the service being compared. It focuses on features relevant to active ASX options traders and does not compare every provider, feature or fee.
Ready when you are
Ready to trade with more control?
Open a Volatility account and bring connected tools, published pricing and experienced support into your workflow.
No platform fees. Brokerage fees apply.