Share Trading comparison
Interactive Brokers Australia vs Webull
The biggest practical difference between Interactive Brokers and Webull is custody. Webull is CHESS-sponsored, meaning you get your own HIN and shares are held in your name on the ASX register. Interactive Brokers operates on a custodian model — shares are held in IBKR's name, not yours. That single distinction shapes which investor each platform suits.
Choose
Interactive Brokers Australia
if…
- ›You trade global markets — IBKR gives you access to 30+ countries including Canada, Europe, Asia and emerging markets, far beyond Webull's handful of markets
- ›You want the tightest possible FX spreads for converting AUD to USD (0.00002% vs Webull's 0.005%), which matters if you trade US stocks regularly
- ›You need advanced order types and professional-grade tools like conditional orders, options and CFDs in one account
- ›You trade large ASX parcels — IBKR's 0.08% brokerage is cheaper than Webull's 0.03% once your trade exceeds roughly $3,750
- ›You want zero minimum deposit and no market data fees to get started
Choose
Webull
if…
- ›You want CHESS sponsorship and your own HIN so ASX-listed shares are held directly in your name on the register
- ›You trade ASX ETFs — Webull charges $0 brokerage on all ASX ETF trades with no conditions attached
- ›You trade small ASX parcels — Webull's $1 minimum brokerage beats IBKR's $6 minimum for trades under about $6,250
- ›You want commission-free US stock trading (Webull charges $0 US brokerage, while IBKR charges a minimum of $1 USD)
- ›You prefer a simpler, app-first experience with crypto trading included alongside shares
Where they differ
| Fact | Interactive Brokers Australia | Webull |
|---|---|---|
| CHESS sponsorship | Custodian model (no individual HIN) | CHESS-sponsored (individual HIN) |
| ASX brokerage minimum | $6 AUD | $1 AUD |
| US brokerage | $1 USD minimum (0.05%) | $0 USD (commission-free) |
| FX spread (AUD/USD) | 0.00002% | 0.005% |
| Market data fees | No mandatory market data fees | $49.99 AUD/month for real-time data |
Verdict
Pick Webull for CHESS-sponsored ASX investing with cheap ETFs; pick Interactive Brokers for global markets, tight FX and professional trading tools.
Cost calculator
What would Interactive Brokers Australia vs Webull 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 | Interactive Brokers Australia | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | No |
| 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 | US, Canada, UK, Ireland, Germany, France, Netherlands, Belgium, Spain, Italy, Switzerland, Austria, Sweden, Norway, Denmark, Finland, Poland, Czechia, Hungary, Israel, Hong Kong, Japan, Singapore, China (Stock Connect), South Korea, India, Indonesia, Thailand, Malaysia, Australia, New Zealand, South Africa, Mexico | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | Yes | No |
| Crypto trading | — | Yes |
| Managed funds | No | No |
| Bonds supported | Yes | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.002% | 0.5% |
| FX spread (other currencies) | 0.002% | 0.5% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | — |
| Market data fees | — | $49.99/month |
| Conditional order fees | $0 | $0 |
| Corporate action fees | Corporate action processing is generally fee-free for standard events (dividends, splits, mergers). Some voluntary corporate actions and ADR pass-through fees apply per the published fee schedule. Mandatory reorganisations are processed at no charge. | — |
| costs visible | ||
| ASX brokerage minimum | $6 | $1 |
| ASX brokerage percentage | 0.08% | 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$1 | US$0 |
| US brokerage percentage | 0.05% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | — |
| identity and trust | ||
| Legal entity name | Interactive Brokers Australia Pty Ltd | Webull Securities (Australia) Pty Ltd |
| AFSL number | 453,554 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 1,978 | 2,022 |
| Parent / ownership | Interactive Brokers Group, Inc. (NASDAQ: IBKR) | 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 | public | public |
| money movement | ||
| Minimum initial deposit | $0 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | Bank transfer (EFT), BPAY, International wire (SWIFT) | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 for ASX, T+1 for US equities | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-3 business days for AUD EFT; same day possible for AUD instant transfers within Australia | 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 | No | No |
| Free research reports | Yes | No |
| 2FA support | authenticator app | authenticator |
| Customer support channels | phone, email, live chat, in-app secure message | Phone, Email, In-app chat |
| Support hours (AU time) | 24 hours, Monday to Friday (Sydney) — local AU phone support during business hours; global desks cover overnight | 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 | Yes | Yes |
| Distribution component breakdown | No | — |
| CGT calculator / report | Yes | 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 | No |
| After-hours / overnight trading | Yes | Yes |