CMC Invest vs Webull
The practical split is cost structure. CMC Invest is the cheaper ASX broker for most trades, charging $11 flat up to $1,000 and 0.10% above it, while Webull undercuts on larger ASX trades at 0.03% and gives free brokerage on every ASX ETF. Webull also holds USD and trades overnight, but it charges for market data and skips DRP.
- ›You want free real-time market data and research without a monthly fee
- ›You want to buy ASX shares in small parcels, where CMC's $11 flat fee beats Webull's percentage on sub-$1,000 trades
- ›You want access to 15+ overseas markets including the UK, Japan, Canada and Europe
- ›You want dividend reinvestment and managed funds alongside shares
- ›You want a broker with a 35-year track record and an LSE-listed parent
- ›You want zero brokerage on every ASX ETF trade, no conditions
- ›You want to hold USD in your account and avoid repeated FX conversion
- ›You want fractional US shares so you can buy part of a high-priced stock
- ›You want overnight and after-hours trading on US markets
- ›You want crypto, A-shares and Hong Kong exposure in the same app
Where they differ
| Fact | CMC Invest | Webull |
|---|---|---|
| ASX brokerage | $11 minimum or 0.10% (threshold $1,000) | $1 minimum or 0.03% (threshold $3,333) |
| ASX ETF brokerage | Standard ASX rates apply | $0 on all ASX ETF trades, no conditions |
| Market data fees | $0/month | $49.99/month |
| USD account | Not held | Held |
| Inactivity fee | $15 | $0 |
Pick CMC Invest for cheap small ASX trades and free data; pick Webull for free ETF brokerage, USD holding and US fractional shares.
Common questions
How do CMC Invest and Webull compare on asx brokerage?
CMC Invest: $11 minimum or 0.10% (threshold $1,000). Webull: $1 minimum or 0.03% (threshold $3,333). Webull is cheaper on larger ASX trades, CMC on small ones.
How do CMC Invest and Webull compare on asx etf brokerage?
CMC Invest: Standard ASX rates apply. Webull: $0 on all ASX ETF trades, no conditions. A big gap if you build a passive ETF portfolio.
How do CMC Invest and Webull compare on market data fees?
CMC Invest: $0/month. Webull: $49.99/month. Webull's free data is limited; real-time feeds cost extra.
When is CMC Invest the better choice over Webull?
Pick CMC Invest if you want free real-time market data and research without a monthly fee; you want to buy ASX shares in small parcels, where CMC's $11 flat fee beats Webull's percentage on sub-$1,000 trades; you want access to 15+ overseas markets including the UK, Japan, Canada and Europe; or you want dividend reinvestment and managed funds alongside shares.
When is Webull the better choice over CMC Invest?
Pick Webull if you want zero brokerage on every ASX ETF trade, no conditions; you want to hold USD in your account and avoid repeated FX conversion; you want fractional US shares so you can buy part of a high-priced stock; or you want overnight and after-hours trading on US markets.
CMC Invest or Webull — what's the verdict?
Pick CMC Invest for cheap small ASX trades and free data; pick Webull for free ETF brokerage, USD holding and US fractional shares.
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 | 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 | $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 | 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 |