Crypto Exchange comparison
Bybit vs Webull
Bybit is a pure crypto exchange built for active traders, while Webull is a full-service broker that also offers crypto — but the two platforms operate in fundamentally different regulatory environments. The biggest practical difference: Webull holds an Australian Financial Services Licence (AFSL 536980) and is AUSTRAC-registered, whereas Bybit is not registered with AUSTRAC at all. That makes Webull the safer bet for Australian investors who want regulatory oversight and CHESS-sponsored share trading, while Bybit is purely for crypto natives who don't mind offshore exposure.
Choose
Bybit
if…
- ›You want a dedicated crypto exchange with deep derivatives, futures, and perpetuals — not just spot trading
- ›You're comfortable trading on an offshore platform that is not AUSTRAC-registered and has no Australian regulatory footprint
- ›You want zero monthly fees and free real-time market data without paying for add-ons
- ›You need 24/7 live chat support and don't want limited phone hours
- ›You want a demo account to test strategies before committing real capital
Choose
Webull
if…
- ›You want CHESS-sponsored ownership of ASX shares with your own HIN — Bybit doesn't offer any share trading at all
- ›You want a single platform for Australian shares, US shares, options, and crypto all in one place
- ›You need an Australian tax statement and CGT calculator at tax time — Bybit provides neither
- ›You value AUSTRAC registration and an Australian AFSL for regulatory peace of mind
- ›You want to deposit AUD directly via PayTo or bank transfer without using a third-party fiat gateway
Where they differ
| Fact | Bybit | Webull |
|---|---|---|
| AUSTRAC registration | No | Yes |
| CHESS sponsorship | Not applicable (no ASX trading) | Yes — individual HIN provided |
| Australian tax statement | No | Yes |
| Market data fees | $0/month | $49.99/month |
| Deposit methods | Crypto deposit, third-party fiat gateway (Banxa/Mercuryo/MoonPay), P2P | PayTo, bank transfer (EFT), international wire |
Verdict
Choose Bybit for serious crypto trading offshore; choose Webull if you want a regulated, all-in-one broker with CHESS-sponsored shares and crypto on the side.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bybit | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | No | Yes |
| SMSF account | No | Yes |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | — | Yes |
| ASX ETFs supported | — | Yes |
| US shares supported | — | Yes |
| US ETFs supported | — | Yes |
| Other markets supported | — | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | — | No |
| Fractional shares (US) | — | Yes |
| Options trading | — | Yes |
| CFDs supported | — | No |
| Crypto trading | Yes | Yes |
| Managed funds | — | No |
| Bonds supported | — | 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 |
| identity and trust | ||
| Legal entity name | Bybit Fintech Limited | Webull Securities (Australia) Pty Ltd |
| AFSL number | — | 536,980 |
| AUSTRAC registration | No | Yes |
| Year founded | 2,018 | 2,022 |
| Parent / ownership | Bybit Fintech Limited (privately held; founded and led by Ben Zhou) | 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 | SC | Australia |
| Public company status | private | public |
| money movement | ||
| Minimum initial deposit | — | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | Crypto deposit, Third-party fiat gateway (debit/credit card via Banxa, Mercuryo, MoonPay), P2P trading (peer-to-peer fiat), Bybit Card top-up (where available) | PayTo, Bank transfer (EFT), International wire |
| Settlement period | — | T+2 for ASX; T+1 for US |
| Withdrawal time | AUD bank withdrawals not supported; crypto withdrawals processed typically within minutes once approved (subject to network confirmation) | 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 | authenticator |
| Customer support channels | 24/7 live chat, email/ticket, help center, in-app support | Phone, Email, In-app chat |
| Support hours (AU time) | 24/7 (live chat); email tickets responded in 1-3 business days | 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 | single asset | weighted |
| DRP (dividend reinvestment) | — | No |
| After-hours / overnight trading | Yes | Yes |