Crypto Exchange comparison
Binance Australia vs Webull
Binance Australia is a pure crypto exchange with rock-bottom fees and a massive coin selection, while Webull is a full-service broker that happens to offer crypto alongside ASX and US shares. The biggest practical difference: Webull gives you CHESS-sponsored ASX trading and US options in one app, whereas Binance is crypto-only with no access to traditional markets.
Choose
Binance Australia
if…
- ›You want the widest selection of cryptocurrencies available on an Australian-registered exchange
- ›You're comfortable with a custodian model and don't need CHESS sponsorship or a HIN
- ›You want to start trading with as little as $1 and use PayID for instant deposits
- ›You need 24/7 live chat support and a demo account to test strategies
- ›You want to automate purchases with multi-level DCA (dollar-cost averaging)
Choose
Webull
if…
- ›You want to trade ASX shares and ETFs under CHESS sponsorship with your own HIN
- ›You need US stocks, US ETFs, and US options — all in the same account as your crypto
- ›You want zero-brokerage ASX ETF trades and near-zero FX spreads (0.005%) on US dollar conversions
- ›You need an Australian tax statement and a built-in CGT calculator for end-of-year reporting
- ›You're willing to deposit $500 minimum to get started and don't mind paying $49.99/month for real-time market data
Where they differ
| Fact | Binance Australia | Webull |
|---|---|---|
| Markets available | Crypto only | ASX shares, ASX ETFs, US shares, US ETFs, Hong Kong, China A-shares, and crypto |
| CHESS sponsorship | Not offered (custodian model) | Yes — you get your own HIN |
| Minimum initial deposit | $1 | $500 |
| US options trading | Not supported | Supported |
| Tax reporting | No Australian tax statement or CGT report | Australian tax statement and built-in CGT calculator |
Verdict
Choose Binance Australia for pure crypto with low fees; choose Webull if you want a single account for shares, options, and crypto with CHESS sponsorship.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Binance Australia | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | No | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | Hong Kong, China (A-shares) | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | No | Yes |
| CFDs supported | No | No |
| Crypto trading | Yes | Yes |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | — | 0.5% |
| FX spread (other currencies) | — | 0.5% |
| Holds USD account | — | Yes |
| Market data fees | $0/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| ASX brokerage minimum | — | $1 |
| ASX brokerage percentage | — | 0.03% |
| ASX brokerage threshold | — | $3,333 |
| ASX free trade conditions | — | ASX ETFs: $0 brokerage on all trades, no conditions. ASX shares: not free — $1 minimum or 0.03% (whichever greater). |
| US brokerage minimum | — | US$0 |
| US brokerage percentage | — | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | InvestbyBit Pty Ltd (trading as Binance Australia) | Webull Securities (Australia) Pty Ltd |
| AFSL number | — | 536,980 |
| AUSTRAC registration | Yes | Yes |
| Year founded | 2,020 | 2,022 |
| Parent / ownership | Binance Holdings Limited (Cayman Islands) | Webull Corporation (NASDAQ: BULL), Cayman Islands holding company; originally backed by Hunan Fumi Information Technology (China) with investors including Xiaomi, General Atlantic, Coatue, Lightspeed |
| Country of incorporation | AU | Australia |
| Public company status | private | public |
| money movement | ||
| Minimum initial deposit | $1 | $500 |
| Minimum subsequent purchase | $1 | $0 |
| Deposit methods | PayID, Bank transfer (Osko/NPP), Debit card, Credit card, P2P trading | PayTo, Bank transfer (EFT), International wire |
| Settlement period | — | T+2 for ASX; T+1 for US |
| Withdrawal time | PayID: <60 seconds; bank transfer: 1-2 business days | 1-2 business days for AUD bank transfer; 1-5 business days for international wire |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | Yes |
| Demo account | Yes | Yes |
| Free real-time market data | Yes | No |
| Free research reports | No | No |
| 2FA support | authenticator app | authenticator |
| Customer support channels | Live chat (24/7), Email, Help centre / in-app ticket | Phone, Email, In-app chat |
| Support hours (AU time) | 24/7 (live chat); email response typically within 24 hours | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | video + courses | structured |
| tax and reporting | ||
| Australian tax statement | No | Yes |
| CGT calculator / report | No | 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 | Yes |
| Auto-invest sophistication | multiple | weighted |
| DRP (dividend reinvestment) | — | No |
| After-hours / overnight trading | Yes | Yes |