Crypto Exchange comparison
BTC Markets vs Webull
BTC Markets and Webull both let you trade crypto, but they're fundamentally different beasts. BTC Markets is a pure-play Australian crypto exchange that's been around since 2013 — it does crypto and nothing else. Webull is a global broker that added crypto to a much bigger menu of ASX shares, US stocks, options and ETFs, all under an AFSL. The real fork in the road is whether you want a dedicated crypto exchange or a multi-asset brokerage that happens to offer crypto.
Choose
BTC Markets
if…
- ›You want a platform built by Australians for Australians with a decade-long track record in crypto since 2013
- ›You want to deposit with PayID, Osko or BPAY and start trading crypto from as little as $30
- ›You want zero monthly fees, zero market data fees and zero withdrawal fees — no hidden costs eating into your crypto trades
- ›You want a dedicated crypto exchange with stop-loss and conditional orders, plus auto-invest at the single-asset level
- ›You want a platform that integrates with Sharesight or Navexa for tax reporting and provides a CGT calculator
Choose
Webull
if…
- ›You want one login for crypto, ASX shares, US stocks, ETFs and options — all in the same app
- ›You want CHESS-sponsored ASX trading with your own HIN, not just custodian crypto holdings
- ›You want zero-commission US stock and ETF trades with fractional shares, plus $0 brokerage on ASX ETFs
- ›You want a demo account to practise trading before committing real money
- ›You want phone support and a structured education library, not just a help centre and email
Where they differ
| Fact | BTC Markets | Webull |
|---|---|---|
| Year founded | 2013 | 2022 |
| Minimum initial deposit | $30 | $500 |
| Market data fees | $0/month | $49.99/month |
| CHESS sponsorship | Not applicable (crypto only) | CHESS-sponsored with individual HIN |
| Deposit methods | PayID, Osko, BPAY, EFT, debit/credit card | PayTo, EFT, international wire |
Verdict
Choose BTC Markets for a low-cost, Australian-focused crypto-only exchange; choose Webull if you want crypto plus a full brokerage under one roof.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | BTC Markets | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | — | Yes |
| ASX ETFs supported | — | Yes |
| US shares supported | — | Yes |
| US ETFs supported | — | Yes |
| Other markets supported | — | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | — | No |
| Fractional shares (US) | — | Yes |
| Options trading | — | Yes |
| CFDs supported | — | No |
| Crypto trading | Yes | Yes |
| Managed funds | — | No |
| Bonds supported | — | 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 | $0/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| ASX brokerage minimum | — | $1 |
| ASX brokerage percentage | — | 0.03% |
| ASX brokerage threshold | — | $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 brokerage percentage | — | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | BTC Markets Pty Ltd | Webull Securities (Australia) Pty Ltd |
| AFSL number | AFSL via sister entity BTCM Payments Pty Ltd (BTC Markets itself is not AFSL-licensed for spot crypto, as spot crypto is not a regulated financial product) | 536,980 |
| AUSTRAC registration | Yes | Yes |
| Year founded | 2,013 | 2,022 |
| Parent / ownership | Privately owned, Australian; headquartered in Richmond, Melbourne (Victoria) | 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 | private | public |
| money movement | ||
| Minimum initial deposit | $30 | $500 |
| Minimum subsequent purchase | $30 | $0 |
| Deposit methods | PayID, Osko, BPAY, Direct Credit / EFT bank transfer, Bank card (debit/credit) | PayTo, Bank transfer (EFT), International wire |
| Settlement period | — | T+2 for ASX; T+1 for US |
| Withdrawal time | AUD withdrawals typically 1 business day (NPP/Osko often same-day where available) | 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 | Yes | No |
| Free research reports | No | No |
| 2FA support | authenticator | authenticator |
| Customer support channels | email, support portal / help centre | Phone, Email, In-app chat |
| Support hours (AU time) | Business hours (approx. 9am-5pm AET), Mon-Fri; help centre 24/7 self-service | 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 | Yes | Yes |
| Auto-invest sophistication | single asset | weighted |
| DRP (dividend reinvestment) | — | No |
| After-hours / overnight trading | Yes | Yes |