Share Trading comparison
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.
Choose
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
- ›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
Choose
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
- ›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 |
Verdict
Choose Bell Direct for breadth of products and DRPs; choose Webull for rock-bottom costs, US trading, and modern features.
Cost calculator
What would Bell Direct 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 | 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 |