Robo Advisor comparison
OpenInvest vs Webull
OpenInvest and Webull are both Australian platforms, but they serve completely different investors. OpenInvest is a high-minimum robo-adviser that builds and manages a diversified portfolio for you — think set-and-forget. Webull is a full-featured brokerage with US and ASX trading, options, crypto, and a $500 minimum. The real choice is between hands-off portfolio management and active, self-directed investing.
Choose
OpenInvest
if…
- ›You want a fully managed portfolio where the platform handles asset allocation and rebalancing for you
- ›You have at least $20,000 to invest and want a single monthly fee ($7) with no trading costs
- ›You want exposure to managed funds and bonds alongside ASX ETFs in a professionally constructed portfolio
- ›You prefer a simple, predictable fee structure — no brokerage, no FX spreads, no market data charges
- ›You don't need a mobile app or desktop platform and are happy managing your account via phone or email
Choose
Webull
if…
- ›You want to trade ASX and US stocks and ETFs actively with low brokerage ($1 minimum or 0.03% on ASX, $0 on US)
- ›You want zero monthly platform fees and a low $500 minimum to get started
- ›You want CHESS sponsorship and your own HIN so shares are held in your name on the ASX register
- ›You want access to US fractional shares, options trading, crypto, and after-hours trading
- ›You want a modern mobile app, desktop platform, demo account, and 24-hour in-app chat support
Where they differ
| Fact | OpenInvest | Webull |
|---|---|---|
| Monthly platform fee | $7/month | $0/month |
| Minimum initial deposit | $20,000 | $500 |
| CHESS sponsorship | Custodian model (no individual HIN) | CHESS sponsored (individual HIN available) |
| US stocks & ETFs | Not supported | Supported ($0 brokerage, fractional shares available) |
| Account type | Managed robo-adviser portfolio | Self-directed brokerage with optional auto-invest |
Verdict
Choose OpenInvest if you want a low-cost managed portfolio with $20k+; choose Webull for low-cost active trading from $500.
Cost calculator
What would OpenInvest vs Webull actually cost you?
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 | OpenInvest | Webull |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | 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 | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | — | Hong Kong, China (A-shares) |
| Fractional shares (ASX) | No | 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 | — | Yes |
| Market data fees | — | $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 | $7/month | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| identity and trust | ||
| Legal entity name | OpenInvest Limited | Webull Securities (Australia) Pty Ltd |
| AFSL number | 504,155 | 536,980 |
| AUSTRAC registration | — | Yes |
| Year founded | 2,017 | 2,022 |
| Parent / ownership | Privately owned (founder-led) | 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 | $20,000 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | — | PayTo, Bank transfer (EFT), International wire |
| Settlement period | — | T+2 for ASX; T+1 for US |
| Withdrawal time | — | 1-2 business days for AUD bank transfer; 1-5 business days for international wire |
| platform ux | ||
| iOS app | No | Yes |
| Android app | No | Yes |
| Desktop platform | No | Yes |
| Demo account | No | Yes |
| Free real-time market data | — | No |
| Free research reports | — | No |
| 2FA support | — | authenticator |
| Customer support channels | phone, email | Phone, Email, In-app chat |
| Support hours (AU time) | 8:00am-6:00pm AET, business days | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. |
| Education content | structured | structured |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | — |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | — | Yes |
| trading mechanics | ||
| Market orders | No | Yes |
| Limit orders | No | Yes |
| Stop loss orders | No | Yes |
| Conditional orders | — | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | rebalancing | weighted |
| DRP (dividend reinvestment) | No | No |
| After-hours / overnight trading | — | Yes |