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.
- ›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.
- ›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 |
Choose Bendigo Invest Direct for CHESS-sponsored, bank-backed trading with global market access; choose Webull for rock-bottom fees and US-focused features.
Common questions
How do Bendigo Invest Direct and Webull compare on asx brokerage minimum?
Bendigo Invest Direct: $19.95. Webull: $1 (shares) / $0 (ETFs). Webull is dramatically cheaper for smaller ASX trades.
How do Bendigo Invest Direct and Webull compare on chess sponsorship?
Bendigo Invest Direct: Yes — individual HIN. Webull: Yes — individual HIN. Both offer CHESS sponsorship, so you get your own HIN either way.
How do Bendigo Invest Direct and Webull compare on fx spread (aud/usd)?
Bendigo Invest Direct: 0.007%. Webull: 0.005%. Webull's FX spread is slightly tighter, and it offers a USD account to avoid repeated conversion.
When is Bendigo Invest Direct the better choice over Webull?
Pick 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; or you want managed funds, bonds and IPO access alongside standard shares and ETFs.
When is Webull the better choice over Bendigo Invest Direct?
Pick 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; or you want after-hours / overnight trading capability for US markets.
Bendigo Invest Direct or Webull — what's the 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.
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 | 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 |