moomoo vs Webull
Moomoo and Webull are both low-cost, CHESS-sponsored brokers that launched in Australia around the same time, but the biggest practical difference comes down to fees on ASX trades. Webull charges just $1 minimum brokerage on ASX shares and $0 on ASX ETFs, while moomoo charges a $3 minimum on everything. That gap matters if you're a smaller or more frequent trader.
- ›You want the tightest FX spreads on US trades — moomoo charges 0.003% vs Webull's 0.005%, which adds up on larger conversions.
- ›You need dividend reinvestment (DRP) — moomoo supports it; Webull does not.
- ›You want free real-time market data included — moomoo gives it at $0/month, Webull charges $49.99/month.
- ›You prefer phone and live chat support with longer hours, including weekends and holidays.
- ›You value a more sophisticated auto-invest feature with multiple allocation levels rather than just weighted.
- ›You trade ASX ETFs regularly — Webull charges $0 brokerage on all ASX ETF trades with no conditions.
- ›You want the lowest ASX share brokerage — Webull's $1 minimum beats moomoo's $3 minimum for trades under ~$6,700.
- ›You want a joint account — Webull offers joint accounts; moomoo does not.
- ›You want to trade China A-shares — Webull supports the Chinese market; moomoo only offers Hong Kong alongside ASX and US.
- ›You prefer authenticator-based 2FA over SMS-based for better security.
Where they differ
| Fact | moomoo | Webull |
|---|---|---|
| ASX brokerage minimum | $3 | $1 |
| ASX ETF brokerage | $3 minimum (same as shares) | $0 (free, no conditions) |
| FX spread (AUD/USD) | 0.003% | 0.005% |
| Market data fees | $0/month | $49.99/month |
| Dividend reinvestment (DRP) | Supported | Not supported |
Pick Webull for cheaper ASX trading and joint accounts; pick moomoo for tighter FX, free data, and DRP.
Common questions
How do moomoo and Webull compare on asx brokerage minimum?
moomoo: $3. Webull: $1. Webull is cheaper on smaller ASX share trades.
How do moomoo and Webull compare on asx etf brokerage?
moomoo: $3 minimum (same as shares). Webull: $0 (free, no conditions). Webull is the clear winner for ETF investors.
How do moomoo and Webull compare on fx spread (aud/usd)?
moomoo: 0.003%. Webull: 0.005%. Moomoo is cheaper for currency conversion on US trades.
When is moomoo the better choice over Webull?
Pick moomoo if you want the tightest FX spreads on US trades — moomoo charges 0.003% vs Webull's 0.005%, which adds up on larger conversions; you need dividend reinvestment (DRP) — moomoo supports it; Webull does not; you want free real-time market data included — moomoo gives it at $0/month, Webull charges $49.99/month; or you prefer phone and live chat support with longer hours, including weekends and holidays.
When is Webull the better choice over moomoo?
Pick Webull if you trade ASX ETFs regularly — Webull charges $0 brokerage on all ASX ETF trades with no conditions; you want the lowest ASX share brokerage — Webull's $1 minimum beats moomoo's $3 minimum for trades under ~$6,700; you want a joint account — Webull offers joint accounts; moomoo does not; or you want to trade China A-shares — Webull supports the Chinese market; moomoo only offers Hong Kong alongside ASX and US.
moomoo or Webull — what's the verdict?
Pick Webull for cheaper ASX trading and joint accounts; pick moomoo for tighter FX, free data, and DRP.
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 | moomoo | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | 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 |
| 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 | Hong Kong | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | Yes |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Crypto trading | — | Yes |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | No |
| costs hidden | ||
| FX spread (AUD/USD) | 0.3% | 0.5% |
| FX spread (other currencies) | 0.3% | 0.5% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | — |
| Market data fees | $0/month | $49.99/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| ASX brokerage minimum | $3 | $1 |
| ASX brokerage percentage | 0.03% | 0.03% |
| ASX brokerage threshold | $10,000 | $3,333 |
| ASX free trade conditions | No standard free trade conditions on ASX. Promotional sign-up rewards have offered free brokerage for limited periods to new clients. | ASX ETFs: $0 brokerage on all trades, no conditions. ASX shares: not free — $1 minimum or 0.03% (whichever greater). |
| US brokerage minimum | US$0.99 | US$0 |
| US brokerage percentage | 0% | 0% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $55 | — |
| identity and trust | ||
| Legal entity name | Futu Securities (Australia) Ltd | Webull Securities (Australia) Pty Ltd |
| AFSL number | 224,663 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 2,022 | 2,022 |
| Parent / ownership | Futu Holdings Ltd (NASDAQ: FUTU) | 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 (OSKO/NPP) | PayTo, Bank transfer (EFT), International wire |
| Settlement period | T+2 ASX; T+1 US | T+2 for ASX; T+1 for US |
| Withdrawal time | 1-3 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 | Yes | Yes |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | sms | authenticator |
| Customer support channels | Phone, Live chat, Email, In-app | Phone, Email, In-app chat |
| Support hours (AU time) | 24/5 during US trading days; 9:30am-9:30pm AET weekends and holidays | 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 | 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 | multiple | weighted |
| DRP (dividend reinvestment) | Yes | No |
| After-hours / overnight trading | Yes | Yes |