Share Trading comparison
CMC Invest vs Webull
The biggest difference between CMC Invest and Webull is ownership structure: CMC is CHESS-sponsored, meaning you get your own HIN and shares are held in your name on the ASR, while Webull is also CHESS-sponsored but leans into a modern app-first experience with zero-commission US fractional shares and crypto trading. CMC has been around since 1989 and offers free ASX trades up to $1,000 per security per day, whereas Webull charges just $1 minimum on ASX shares but makes ASX ETFs completely free.
Choose
CMC Invest
if…
- ›You want your ASX holdings under your own HIN with CHESS sponsorship — CMC gives you full legal ownership on the register.
- ›You trade smaller amounts on ASX — CMC offers $0 brokerage on the first buy order per security per day up to $1,000.
- ›You need access to 15+ international markets including the UK, Canada, Japan, and Europe.
- ›You want a platform with a long track record — CMC has been operating since 1989 and is listed on the London Stock Exchange.
- ›You need managed funds, IPO access, and a kids/minor account — CMC covers all of these; Webull doesn't.
Choose
Webull
if…
- ›You want to buy fractional US shares — Webull lets you invest in US stocks with as little as $1, while CMC does not offer fractional shares at all.
- ›You trade ASX ETFs frequently — Webull charges $0 brokerage on all ASX ETF trades with no conditions.
- ›You want crypto trading alongside your equities — Webull supports crypto; CMC does not.
- ›You trade after hours — Webull offers overnight trading for US stocks; CMC does not.
- ›You want a demo account to practice before committing real money — Webull provides one; CMC does not.
Where they differ
| Fact | CMC Invest | Webull |
|---|---|---|
| ASX brokerage (shares) | $11 min or 0.10% (free up to $1,000 first buy per day) | $1 min or 0.03% (whichever greater) |
| ASX ETF brokerage | Same as shares — $11 min or 0.10% | $0 on all ASX ETFs, no conditions |
| US fractional shares | Not supported | Supported |
| Market data fees | $0/month | $49.99/month for real-time data |
| Inactivity fee | $15 if inactive | $0 |
Verdict
Choose CMC Invest for low-cost ASX small trades and full CHESS ownership; choose Webull for zero-fee ETFs, fractional US stocks, and crypto.
Cost calculator
What would CMC Invest 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 | CMC Invest | 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 | United Kingdom, Canada, Japan, Germany, France, Netherlands, Belgium, Spain, Switzerland, Sweden, Denmark, Norway, Singapore, Hong Kong, New Zealand | 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 | No | No |
| IPO access | Yes | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 0.5% |
| FX spread (other currencies) | 0.6% | 0.5% |
| Holds USD account | No | Yes |
| Market data fees | $0/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | — |
| costs visible | ||
| ASX brokerage minimum | $11 | $1 |
| ASX brokerage percentage | 0.1% | 0.03% |
| ASX brokerage threshold | $1,000 | $3,333 |
| ASX free trade conditions | $0 brokerage on first ASX buy order per security per day for trades up to $1,000 (excludes margin loan settled trades and sells) | 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 | $15 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | — |
| 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 | 1,989 | 2,022 |
| Parent / ownership | CMC Markets plc (LSE: CMCX) | 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 | $0 |
| Deposit methods | PayID, Bank transfer (EFT), BPAY | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 for ASX; T+1 for 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 | No | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | authenticator app | authenticator |
| Customer support channels | phone, email, live chat | Phone, Email, In-app chat |
| Support hours (AU time) | Monday-Friday, business hours AET (approx 8am-6pm) | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | structured courses | 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 | Yes |
| Auto-invest sophistication | single asset | weighted |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | No | Yes |