Robo Advisor comparison
Raiz Invest vs Webull
Raiz is a micro-investing app built for hands-off, round-up-and-forget saving into a managed ETF portfolio. Webull is a full-featured brokerage that lets you trade ASX shares, US stocks, options and crypto from one account. The biggest practical difference: Raiz does the investing for you, while Webull gives you the tools to do it yourself.
Choose
Raiz Invest
if…
- ›You want to invest spare change automatically via round-ups and recurring deposits from as little as $5
- ›You prefer a managed portfolio where Raiz picks and rebalances the underlying ETFs for you
- ›You need a kids account or want to start investing small amounts without worrying about brokerage
- ›You don't want to think about order types, market data or which stocks to buy — just set and forget
Choose
Webull
if…
- ›You want to trade individual ASX shares and US stocks (including options and crypto) from the same platform
- ›You want CHESS-sponsored ownership with your own HIN, not a custodian arrangement
- ›You need joint, company or trust account structures, or you want a desktop trading platform with advanced order types
- ›You want zero brokerage on ASX ETFs and near-zero US trading fees, with a proper USD sub-account
Where they differ
| Fact | Raiz Invest | Webull |
|---|---|---|
| CHESS sponsorship | Custodian model — Raiz holds assets on your behalf | CHESS-sponsored — you get your own HIN |
| Monthly fee | $5.50/month (or $66/year) | $0/month |
| Minimum deposit | $5 | $500 |
| Available assets | Managed ETF portfolios only (no direct shares, no US stocks) | ASX shares, ASX ETFs, US stocks, US ETFs, options, crypto |
| Account types | Individual, SMSF, Kids | Individual, Joint, Company, Trust, SMSF |
Verdict
Choose Raiz to automate your savings into a managed portfolio; choose Webull if you want to trade markets yourself with full ownership.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Raiz Invest | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | No | Yes |
| Trust account | No | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | No |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | Hong Kong, China (A-shares) | |
| Fractional shares (ASX) | Yes | No |
| Fractional shares (US) | — | Yes |
| Options trading | No | Yes |
| CFDs supported | No | No |
| Crypto trading | — | Yes |
| Managed funds | Yes | 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 | — | $49.99/month |
| Conditional order fees | — | $0 |
| costs visible | ||
| ASX brokerage minimum | — | $1 |
| ASX brokerage percentage | — | 0.03% |
| ASX brokerage threshold | — | $3,333 |
| ASX free trade conditions | Brokerage free across all plans — bulk ASX execution is bundled into the monthly subscription / management fee. No fees on deposits, withdrawals, or portfolio switches. | 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 | $5.5/month | $0/month |
| Annual platform fee | $66/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | Raiz Invest Australia Limited | Webull Securities (Australia) Pty Ltd |
| AFSL number | 434,776 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 2,016 | 2,022 |
| Parent / ownership | Raiz Invest Limited (ASX: RZI) — Australian publicly listed parent | 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 | $5 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | bank_transfer, debit_card, round_ups, recurring_direct_debit | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 (ASX) — applies to fund trading via the underlying ETFs; member contribution settles in ~1-2 business days into the fund. | T+2 for ASX; T+1 for US |
| Withdrawal time | 3-5 business days (T+2 ASX settle, then 1-3 days bank transfer) | 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 | No | No |
| Free research reports | No | No |
| 2FA support | SMS | authenticator |
| Customer support channels | phone, email, in_app | Phone, Email, In-app chat |
| Support hours (AU time) | Monday-Friday, 8:30am-5:30pm Sydney time | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | basic articles | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | — |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | No | Yes |
| trading mechanics | ||
| Market orders | — | Yes |
| Limit orders | — | Yes |
| Stop loss orders | — | Yes |
| Conditional orders | — | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | weighted/rebalancing | weighted |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | — | Yes |