Robo Advisor comparison
InvestSMART Robo Advice vs Webull
InvestSMART Robo Advice and Webull are two fundamentally different products that happen to both offer managed investing. InvestSMART is a hands-off portfolio service with a flat $880 annual fee and a $10,000 minimum, while Webull is a full-featured broker that also offers auto-invest. The real choice is between paying for professional portfolio management versus building and automating your own portfolio across ASX and US markets.
Choose
InvestSMART Robo Advice
if…
- ›You want a fully managed portfolio where professionals handle asset allocation and rebalancing for you
- ›You are happy to pay a flat $880 annual fee in exchange for not having to pick individual stocks or ETFs
- ›You want access to managed funds and bonds as part of a diversified strategy
- ›You prefer a straightforward, no-fuss setup with BPAY and direct debit deposits
- ›You value extensive educational content and research reports included in the service
Choose
Webull
if…
- ›You want to trade individual ASX shares, US shares, US ETFs, and even crypto and options from one account
- ›You want zero annual platform fees, zero inactivity fees, and zero withdrawal fees — just pay brokerage when you trade
- ›You want to start investing with as little as $500 and buy fractional US shares
- ›You want CHESS-sponsored ownership with your own HIN for ASX holdings
- ›You want a demo account to practice trading and weighted auto-invest for dollar-cost averaging
Where they differ
| Fact | InvestSMART Robo Advice | Webull |
|---|---|---|
| Annual platform fee | $880/year | $0/year |
| Minimum initial deposit | $10,000 | $500 |
| Markets available | Australia only (ASX ETFs, managed funds, bonds) | Australia, US, Hong Kong, China A-shares, crypto |
| CHESS sponsorship | Custodian model (no individual HIN) | CHESS-sponsored with individual HIN |
| Auto-invest style | Basic — set and forget managed portfolios | Weighted — you choose allocation percentages across holdings |
Verdict
Choose InvestSMART if you want a true robo-managed portfolio; choose Webull if you want to trade and automate your own investments.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | InvestSMART Robo Advice | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | — | 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 | No | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | AU | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | — | No |
| Fractional shares (US) | No | Yes |
| Options trading | No | Yes |
| CFDs supported | No | No |
| Crypto trading | — | Yes |
| Managed funds | Yes | No |
| Bonds supported | Yes | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | — | 0.5% |
| FX spread (other currencies) | — | 0.5% |
| Holds USD account | No | Yes |
| Market data fees | $0/month | $49.99/month |
| Conditional order fees | — | $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 |
| Annual platform fee | $880/year | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| identity and trust | ||
| Legal entity name | InvestSMART Funds Management Ltd | Webull Securities (Australia) Pty Ltd |
| AFSL number | 246,441 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 1,999 | 2,022 |
| Parent / ownership | InvestSMART Group Limited (ASX:INV) - publicly listed parent | 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 | $10,000 | $500 |
| Minimum subsequent purchase | $100 | $0 |
| Deposit methods | BPAY, Direct Debit | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 | T+2 for ASX; T+1 for US |
| Withdrawal time | 4-5 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 | No | No |
| Free research reports | Yes | No |
| 2FA support | optional | authenticator |
| Customer support channels | phone, email, live chat | Phone, Email, In-app chat |
| Support hours (AU time) | 9:00am-5:30pm AEST Mon-Fri | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | extensive | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | — |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | No | Yes |
| trading mechanics | ||
| Market orders | — | Yes |
| Limit orders | — | Yes |
| Stop loss orders | — | Yes |
| Conditional orders | — | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | basic | weighted |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | No | Yes |