Share Trading comparison
nabtrade vs Webull
The biggest difference between nabtrade and Webull is cost. Webull charges $1 minimum brokerage on ASX shares and $0 on US stocks, while nabtrade charges $9.95 minimum on both markets. But nabtrade is CHESS-sponsored (you get your own HIN), whereas Webull uses custodian-based settlement — meaning your ASX holdings aren't registered in your name. That trade-off between price and ownership structure is the core decision.
Choose
nabtrade
if…
- ›You want CHESS sponsorship and your own HIN so ASX shares are held in your name
- ›You trade ASX ETFs — nabtrade supports them with DRP and full managed fund access
- ›You need access to bonds, managed funds, and international markets beyond the US and Asia
- ›You're already a NAB customer and want instant transfers to a linked NAB account
- ›You want a big-bank safety net with a parent company listed on the ASX
Choose
Webull
if…
- ›You trade US stocks regularly — Webull charges $0 brokerage and holds a USD account to avoid FX on every trade
- ›You want to buy fractional US shares and set up auto-invest / DCA plans
- ›You trade after hours or want a demo account to test strategies risk-free
- ›You want crypto trading alongside equities in one platform
- ›You're cost-sensitive and prefer $1 ASX trades and near-zero FX spreads (0.005%)
Where they differ
| Fact | nabtrade | Webull |
|---|---|---|
| ASX brokerage minimum | $9.95 | $1 |
| US brokerage minimum | $9.95 USD | $0 USD |
| FX spread (AUD/USD) | 0.8% | 0.005% |
| CHESS sponsorship | CHESS (own HIN) | Custodian (no individual HIN) |
| Fractional US shares | Not supported | Supported |
Verdict
Choose nabtrade for CHESS ownership and bank-backed stability; choose Webull for rock-bottom costs and US-market firepower.
Cost calculator
What would nabtrade 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 | nabtrade | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | 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 | United Kingdom (LSE), Germany (Xetra), Hong Kong (HKEx) | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Crypto trading | — | Yes |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 80% | 0.5% |
| FX spread (other currencies) | 80% | 0.5% |
| Holds USD account | No | Yes |
| Market data fees | $19.95/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| costs visible | ||
| ASX brokerage minimum | $9.95 | $1 |
| ASX brokerage percentage | 11% | 0.03% |
| ASX brokerage threshold | $20,000 | $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$9.95 | US$0 |
| US brokerage percentage | 11% | 0% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | WealthHub Securities Limited | Webull Securities (Australia) Pty Ltd |
| AFSL number | 230,704 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 2,012 | 2,022 |
| Parent / ownership | National Australia Bank Limited (ASX: NAB) | 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 | Direct credit / EFT, BPAY, Internal transfer from linked NAB account | PayTo, Bank transfer (EFT), International wire |
| Settlement period | ASX T+2; US T+1; UK/Germany/HK T+2 | T+2 for ASX; T+1 for US |
| Withdrawal time | Instant to linked NAB accounts; 1 business day to other Australian banks | 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 | No | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | SMS + PIN | authenticator |
| Customer support channels | Phone, Email, Secure messaging (via NAB Internet Banking) | Phone, Email, In-app chat |
| Support hours (AU time) | Mon-Fri 8am-6pm AEST/AEDT (contact centre typically 9am-5pm) | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | structured | 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 | No | Yes |
| Auto-invest sophistication | none | weighted |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |