Kraken vs Webull
Kraken and Webull both offer crypto trading in Australia, but they're fundamentally different beasts. Kraken is a pure-play crypto exchange with deep liquidity, low minimums ($5), and 24/7 support. Webull is primarily a global share broker that added crypto — it demands a $500 minimum deposit and charges $49.99/month for real-time market data, but gives you shares, options, and crypto under one roof.
- ›You want a dedicated crypto exchange with a $5 minimum deposit and no monthly data fees
- ›You need 24/7 live chat and phone support for crypto trading issues
- ›You want to deposit via PayID, Osko, Apple Pay, or Google Pay
- ›You prefer a platform with a 13-year track record (founded 2011) and an AFSL specifically for crypto services
- ›You want to trade crypto only, without being upsold shares or options
- ›You want a single platform for ASX shares, US stocks, options, AND crypto
- ›You need CHESS-sponsored ASX trading with your own HIN — Webull is the only one here offering it
- ›You want $0 brokerage on ASX ETFs with no conditions attached
- ›You need a demo account to practise before trading
- ›You want a CGT calculator built in for tax reporting
Where they differ
| Fact | Kraken | Webull |
|---|---|---|
| Minimum initial deposit | $5 AUD | $500 AUD |
| Real-time market data fee | $0/month | $49.99/month |
| CHESS sponsorship | Not applicable (crypto only) | CHESS-sponsored with individual HIN |
| ASX ETF brokerage | Not applicable | $0 (all trades, no conditions) |
| Customer support hours | 24/7 live chat and phone | Phone Mon-Fri 08:30-18:00 AEST; in-app chat advertised 24-hour |
Pick Kraken for serious crypto trading; pick Webull if you want crypto alongside CHESS-sponsored ASX and US shares.
Common questions
How do Kraken and Webull compare on minimum initial deposit?
Kraken: $5 AUD. Webull: $500 AUD.
How do Kraken and Webull compare on real-time market data fee?
Kraken: $0/month. Webull: $49.99/month.
How do Kraken and Webull compare on chess sponsorship?
Kraken: Not applicable (crypto only). Webull: CHESS-sponsored with individual HIN.
When is Kraken the better choice over Webull?
Pick Kraken if you want a dedicated crypto exchange with a $5 minimum deposit and no monthly data fees; you need 24/7 live chat and phone support for crypto trading issues; you want to deposit via PayID, Osko, Apple Pay, or Google Pay; or you prefer a platform with a 13-year track record (founded 2011) and an AFSL specifically for crypto services.
When is Webull the better choice over Kraken?
Pick Webull if you want a single platform for ASX shares, US stocks, options, AND crypto; you need CHESS-sponsored ASX trading with your own HIN — Webull is the only one here offering it; you want $0 brokerage on ASX ETFs with no conditions attached; or you need a demo account to practise before trading.
Kraken or Webull — what's the verdict?
Pick Kraken for serious crypto trading; pick Webull if you want crypto alongside CHESS-sponsored ASX and US shares.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Kraken | 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 | Bit Trade Pty Ltd (trading as Kraken) | Webull Securities (Australia) Pty Ltd |
| AFSL number | 545,124 | 536,980 |
| AUSTRAC registration | Yes | Yes |
| Year founded | 2,011 | 2,022 |
| Parent / ownership | Payward, Inc. (Bit Trade Pty Ltd acquired by Kraken in 2020) | 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 | $5 | $500 |
| Minimum subsequent purchase | $5 | $0 |
| Deposit methods | PayID, Osko bank transfer, Debit card (mobile app), Credit card (mobile app), Apple Pay, Google Pay | PayTo, Bank transfer (EFT), International wire |
| Settlement period | — | T+2 for ASX; T+1 for US |
| Withdrawal time | AUD withdrawals via Osko bank transfer typically same business day (PayID withdrawals not yet supported) | 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 | No | No |
| 2FA support | authenticator | authenticator |
| Customer support channels | 24/7 live chat, email, support portal, phone (24/7) | Phone, Email, In-app chat |
| Support hours (AU time) | 24/7 (live chat and phone) | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | video + courses | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| CGT calculator / report | No | 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 |