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.
- ›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.
- ›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 |
Choose CMC Invest for low-cost ASX small trades and full CHESS ownership; choose Webull for zero-fee ETFs, fractional US stocks, and crypto.
Common questions
How do CMC Invest and Webull compare on asx brokerage (shares)?
CMC Invest: $11 min or 0.10% (free up to $1,000 first buy per day). Webull: $1 min or 0.03% (whichever greater). Webull is cheaper for most ASX share trades, but CMC's free daily threshold helps small buyers.
How do CMC Invest and Webull compare on asx etf brokerage?
CMC Invest: Same as shares — $11 min or 0.10%. Webull: $0 on all ASX ETFs, no conditions. Webull is the clear winner for ETF traders.
How do CMC Invest and Webull compare on us fractional shares?
CMC Invest: Not supported. Webull: Supported. Webull lets you buy US stocks in dollar amounts; CMC requires whole shares.
When is CMC Invest the better choice over Webull?
Pick 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; or you want a platform with a long track record — CMC has been operating since 1989 and is listed on the London Stock Exchange.
When is Webull the better choice over CMC Invest?
Pick 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; or you trade after hours — Webull offers overnight trading for US stocks; CMC does not.
CMC Invest or Webull — what's the 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.
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 | $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 |