Share Trading comparison
moomoo vs Webull
Moomoo and Webull are both low-cost, CHESS-sponsored brokers that launched in Australia around the same time, but the biggest practical difference comes down to fees on ASX trades. Webull charges just $1 minimum brokerage on ASX shares and $0 on ASX ETFs, while moomoo charges a $3 minimum on everything. That gap matters if you're a smaller or more frequent trader.
Choose
moomoo
if…
- ›You want the tightest FX spreads on US trades — moomoo charges 0.003% vs Webull's 0.005%, which adds up on larger conversions.
- ›You need dividend reinvestment (DRP) — moomoo supports it; Webull does not.
- ›You want free real-time market data included — moomoo gives it at $0/month, Webull charges $49.99/month.
- ›You prefer phone and live chat support with longer hours, including weekends and holidays.
- ›You value a more sophisticated auto-invest feature with multiple allocation levels rather than just weighted.
Choose
Webull
if…
- ›You trade ASX ETFs regularly — Webull charges $0 brokerage on all ASX ETF trades with no conditions.
- ›You want the lowest ASX share brokerage — Webull's $1 minimum beats moomoo's $3 minimum for trades under ~$6,700.
- ›You want a joint account — Webull offers joint accounts; moomoo does not.
- ›You want to trade China A-shares — Webull supports the Chinese market; moomoo only offers Hong Kong alongside ASX and US.
- ›You prefer authenticator-based 2FA over SMS-based for better security.
Where they differ
| Fact | moomoo | Webull |
|---|---|---|
| ASX brokerage minimum | $3 | $1 |
| ASX ETF brokerage | $3 minimum (same as shares) | $0 (free, no conditions) |
| FX spread (AUD/USD) | 0.003% | 0.005% |
| Market data fees | $0/month | $49.99/month |
| Dividend reinvestment (DRP) | Supported | Not supported |
Verdict
Pick Webull for cheaper ASX trading and joint accounts; pick moomoo for tighter FX, free data, and DRP.
Cost calculator
What would moomoo 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 | moomoo | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | 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 |
| 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 | Hong Kong | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Crypto trading | — | Yes |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.3% | 0.5% |
| FX spread (other currencies) | 0.3% | 0.5% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | — |
| Market data fees | $0/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| ASX brokerage minimum | $3 | $1 |
| ASX brokerage percentage | 0.03% | 0.03% |
| ASX brokerage threshold | $10,000 | $3,333 |
| ASX free trade conditions | No standard free trade conditions on ASX. Promotional sign-up rewards have offered free brokerage for limited periods to new clients. | ASX ETFs: $0 brokerage on all trades, no conditions. ASX shares: not free — $1 minimum or 0.03% (whichever greater). |
| US brokerage minimum | US$0.99 | US$0 |
| US brokerage percentage | 0% | 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 | $55 | — |
| identity and trust | ||
| Legal entity name | Futu Securities (Australia) Ltd | Webull Securities (Australia) Pty Ltd |
| AFSL number | 224,663 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 2,022 | 2,022 |
| Parent / ownership | Futu Holdings Ltd (NASDAQ: FUTU) | 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 | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayID, Bank transfer (OSKO/NPP) | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 ASX; T+1 US | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-3 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 | Yes | No |
| 2FA support | sms | authenticator |
| Customer support channels | Phone, Live chat, Email, In-app | Phone, Email, In-app chat |
| Support hours (AU time) | 24/5 during US trading days; 9:30am-9:30pm AET weekends and holidays | 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 |
| 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) | Yes | No |
| After-hours / overnight trading | Yes | Yes |