Bell Direct vs Webull
Bell Direct and Webull both offer CHESS-sponsored ASX trading, but the biggest practical difference is cost structure. Webull charges just $1 minimum brokerage on ASX shares and $0 on ASX ETFs, while Bell Direct starts at $5 per trade. Webull is the newer, cheaper, app-first platform; Bell Direct is the established broker with a broader product range and a more traditional service model.
- ›You want access to managed funds, bonds, and IPOs — Bell Direct covers all three, Webull doesn't
- ›You need a kids or minor account — Bell Direct offers it, Webull doesn't
- ›You want dividend reinvestment plans (DRPs) — Bell Direct supports them, Webull does not
- ›You value phone-based customer support during market hours and don't mind paying $60 for phone trades
- ›You prefer a more established broker with a 2007 track record and Bell Financial Group backing
- ›You want the lowest ASX brokerage — Webull charges $1 minimum on shares and $0 on ASX ETFs with no conditions
- ›You trade US stocks regularly — Webull's FX spread is just 0.005% versus Bell Direct's 0.6%, a massive saving
- ›You want crypto trading alongside your equities — Webull offers it, Bell Direct doesn't
- ›You want auto-invest / DCA functionality — Webull has weighted auto-invest, Bell Direct has none
- ›You prefer a modern app with 24-hour in-app chat support and a demo account for practice
Where they differ
| Fact | Bell Direct | Webull |
|---|---|---|
| ASX brokerage minimum | $5 | $1 (shares) / $0 (ETFs) |
| FX spread (AUD/USD) | 0.6% | 0.005% |
| Market data fees | $27.50/month | $49.99/month |
| CHESS sponsorship | CHESS (individual HIN) | CHESS (individual HIN) |
| Product range | Managed funds, bonds, IPOs, kids accounts, DRP | Crypto, auto-invest, after-hours trading, demo account |
Choose Bell Direct for breadth of products and DRPs; choose Webull for rock-bottom costs, US trading, and modern features.
Common questions
How do Bell Direct and Webull compare on asx brokerage minimum?
Bell Direct: $5. Webull: $1 (shares) / $0 (ETFs). Webull is cheaper on every ASX trade, especially ETFs which are free.
How do Bell Direct and Webull compare on fx spread (aud/usd)?
Bell Direct: 0.6%. Webull: 0.005%. Webull's FX spread is 120x tighter — critical for frequent US traders.
How do Bell Direct and Webull compare on market data fees?
Bell Direct: $27.50/month. Webull: $49.99/month. Bell Direct's real-time data is cheaper, though both charge for it.
When is Bell Direct the better choice over Webull?
Pick Bell Direct if you want access to managed funds, bonds, and IPOs — Bell Direct covers all three, Webull doesn't; you need a kids or minor account — Bell Direct offers it, Webull doesn't; you want dividend reinvestment plans (DRPs) — Bell Direct supports them, Webull does not; or you value phone-based customer support during market hours and don't mind paying $60 for phone trades.
When is Webull the better choice over Bell Direct?
Pick Webull if you want the lowest ASX brokerage — Webull charges $1 minimum on shares and $0 on ASX ETFs with no conditions; you trade US stocks regularly — Webull's FX spread is just 0.005% versus Bell Direct's 0.6%, a massive saving; you want crypto trading alongside your equities — Webull offers it, Bell Direct doesn't; or you want auto-invest / DCA functionality — Webull has weighted auto-invest, Bell Direct has none.
Bell Direct or Webull — what's the verdict?
Choose Bell Direct for breadth of products and DRPs; choose Webull for rock-bottom costs, US trading, and modern features.
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 | Bell Direct | 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 | 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 | Yes | No |
| Bonds supported | Yes | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 0.5% |
| FX spread (other currencies) | — | 0.5% |
| Holds USD account | Yes | Yes |
| Market data fees | $27.5/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $60 | — |
| Corporate action fees | Fail fee $110 or 0.11% daily for unsettled trades; corporate action handling generally pass-through via CHESS sponsorship | — |
| costs visible | ||
| ASX brokerage minimum | $5 | $1 |
| ASX brokerage percentage | 10% | 0.03% |
| ASX brokerage threshold | $25,000 | $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$0 | US$0 |
| US brokerage percentage | — | 0% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | Webull Securities (Australia) Pty Ltd |
| AFSL number | 314,341 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 2,007 | 2,022 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | 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 |
| Deposit methods | BPAY, Bank transfer (EFT), Direct credit | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-2 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 |
| Free real-time market data | No | No |
| Free research reports | Yes | No |
| 2FA support | SMS | authenticator |
| Customer support channels | phone, email, online forms | Phone, Email, In-app chat |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | 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 | 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 |
| Auto-invest sophistication | none | weighted |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | — | Yes |