Share Trading comparison
Bendigo Invest Direct vs Webull
The biggest practical difference between Bendigo Invest Direct and Webull is cost and custody. Bendigo Invest Direct charges a flat $19.95 brokerage on ASX trades and holds your shares under CHESS sponsorship with your own HIN. Webull charges as little as $1 on ASX trades and $0 on US trades, but uses a custodian model — meaning the broker holds the legal title to your shares, not you.
Choose
Bendigo Invest Direct
if…
- ›You want CHESS sponsorship and your own HIN so shares are registered in your name on the ASX settlement system.
- ›You trade larger parcels — the $19.95 flat fee works out cheaper than a percentage-based broker once your trade exceeds about $22,000.
- ›You need access to 16 global markets including the UK, Japan, Canada, Germany, France and Singapore.
- ›You want managed funds, bonds and IPO access alongside standard shares and ETFs.
- ›You value a bank-backed platform with a long track record — Bendigo and Adelaide Bank plus CMC Markets behind it.
Choose
Webull
if…
- ›You want the lowest possible ASX brokerage — $1 minimum or 0.03% on shares, and $0 on ASX ETFs.
- ›You trade US stocks actively — $0 US brokerage, fractional shares available, and you can hold USD to avoid repeated FX conversion.
- ›You want to automate your investing with a weighted auto-invest / DCA feature.
- ›You want after-hours / overnight trading capability for US markets.
- ›You want a demo account to practice trading before committing real money.
Where they differ
| Fact | Bendigo Invest Direct | Webull |
|---|---|---|
| ASX brokerage minimum | $19.95 | $1 (shares) / $0 (ETFs) |
| CHESS sponsorship | Yes — individual HIN | Yes — individual HIN |
| FX spread (AUD/USD) | 0.007% | 0.005% |
| Withdrawal fee | $35 | $0 |
| Fractional shares (US) | Not available | Available |
Verdict
Choose Bendigo Invest Direct for CHESS-sponsored, bank-backed trading with global market access; choose Webull for rock-bottom fees and US-focused features.
Cost calculator
What would Bendigo Invest Direct vs Webull actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bendigo Invest 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 | — | 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 | UK, JP, CA, DE, FR, HK, SG, NZ, NL, BE, PT, ES, IT, NO, SE | 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) | 0.7% | 0.5% |
| FX spread (other currencies) | 0.7% | 0.5% |
| Holds USD account | No | Yes |
| Market data fees | $41.25/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $50 | — |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | — |
| costs visible | ||
| ASX brokerage minimum | $19.95 | $1 |
| ASX brokerage percentage | 0.11% | 0.03% |
| ASX brokerage threshold | $22,000 | $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% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | $35 | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Webull Securities (Australia) Pty Ltd |
| AFSL number | 246,381 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | — | 2,022 |
| Parent / ownership | Bendigo and Adelaide Bank Limited (ABN 11 068 049 178); service operated by CMC Markets Stockbroking Limited, a member of the CMC Markets Group (CMC Markets plc, LSE-listed) | 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 (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 for ASX; T+1 for US |
| Withdrawal time | — | 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 | Yes | No |
| Free research reports | Yes | No |
| 2FA support | — | authenticator |
| Customer support channels | phone, email, live_chat, in_app | Phone, Email, In-app chat |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | 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 |
| 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 |