Webull alternatives for Australians

By   |   Updated 15 Dec 2022

Webull alternatives
  • Webull Financial LLC, otherwise known as Webull, is a Chinese trading app specifically targeting newer generations of traders.
  • One of Robinhood’s primary competitors, however, it offers commission-free trading for stocks as well as ETFs.
  • Up until 2022, Webull was not available in Australia. There are several alternatives to Webull.

Webull is a powerful proposition thanks to its appealing combination of commission-free trading, tradable assets, and international market access, plus excellent mobile and desktop apps.

There’s something for more experienced traders too. Webull offers in-depth charting, technical indicators, advanced order types, and level 2 market data from NASDAQ — a set of features that have caused many to call it the best-in-class Robinhood alternative.

For a trading experience like that of Webull, these are our top picks.


Our top pick


Trading platform most like Webull.

Given all of the options you have when it comes to trading — shares, EFTs, crypto, commodities, and so on — the closest alternative you have to Webull for Australia is eToro.

eToro offers commission-free trading on stocks, EFTs, and cryptocurrencies. You can trade shares on the US stock markets. It also has fractional trading, which means that you can buy part of a share. This is particularly useful for investing in expensive shares such as Netflix and Tesla.

On website


  • Commission-free trading on cryptocurrencies and US stocks.
  • Fractional trading means you can get invested in expensive stocks.
  • A well-designed user experience makes it very friendly for newcomers.
  • Copy-trading and social trading means beginners can trade like a pro.


  • Only US shares can be traded, with no access to Australian and other international markets.
  • A currency conversion fee is levied when funding international trades, which is commonplace.
  • Withdrawal fees.
  • Limited cryptocurrencies are available for trading.
Saxo Capital Markets


Saxo Capital Markets

Trade shares, ETFs, bonds, cryptocurrencies, and more with low fees.

Saxo Capital Markets is an online trading platform that offers easy access to tens of thousands of global shares. It is an ASIC-licensed subsidiary of the Danish Saxo Bank Group. With Saxo, you are able to buy shares at just $6.99 with international shares starting from USD $9.90.

Like Webull, Saxo also offers crypto trading across a basket of popular coins. Unlike the likes of Coinbase and Binance, Saxo is not an exchange, nor does it have a wallet since you are trading price movements without holding the asset.

Saxo run their own loyalty program called Saxo Rewards. They are one of the few brokers with such an initiative, but its most attractive benefits — exclusive meetups and advice — are likely to be out of reach for the casual investor.

On website


  • Access to global markets makes it easier to diversify your portfolio.
  • Invest in ETFs and bonds, with leveraged trade across commodities, futures, options, and more.
  • Saxo Rewards, their rewards program which unlocks lower pricing as you collect more points.
  • A wide range of educational resources available to improve your trading strategy.


  • Charges a commission to trade shares, which is increasingly uncommon among brokers.
  • Saxo’s user interface is not the easiest to pick up.

Honourable mention


A great Aussie alternative if you don't mind paying commission.

SelfWealth is a very popular trading platform in Australia, and for good reason.

Trade US and Australian shares as well as ETFs with simple, transparent pricing: USD$9.50 for all trades on US markets and AUD $9.50 for all local trades. Other international markets are not available at this time.

Although it lacks crypto trading — for now — SelfWealth is one of the leading alternatives to Webull for the Australian investor.


  • ​​You can trade US and Australian markets with simple flat pricing.
  • SelfWealth are one of the few CHESS-sponsored share trading platforms.
  • Excellent app makes it easy to monitor your position and execute trades quickly.
  • Filling out US tax compliance forms is straight forward.


  • SelfWealth charges a commission for trades, including on US shares (unlike eToro and Stake).
  • A minimum required deposit of $500 (if you want to buy shares).
  • Lacks trading for crypto trading, futures, and other assets.

For simple US share trading


If you are only interested in US shares, Stake is a solid option.

Stake was initially exclusively focussed on trading US shares, but has since added ASX shares. I’ve been a long-time user and experienced very few issues, even throughout the ups and downs of the /r/wallstreetbets/ saga.

Trading is commission-free, and you can invest in shares and ETFs listed on the NASDAQ, NYSE, and other US exchanges. In terms of the user experience, Stake is similar to Robinhood, being very pared back and extremely easy to use.

Although trades are free, there are fees, the most notable of which being the currency conversion fee when funding your account.


  • Very slick user interface that makes trading very easy, even for beginners.
  • Get a free stock when you sign up (most likely to be $GPRO in my experience).
  • Access to US share markets for Australian users with no commission on trades.
  • Easy to understand US tax compliance that requires no paperwork.
  • Stake does fractional shares, so you can diversify into even the most expensive shares.


  • You are limited to trading the US markets, which may not be a limit if that's all you want.
  • Stake apply a margin when funding your account and converting to USD.
  • Stake Black, which allows your to trade faster without having to wait for funds to clear, is only available if you are a paid up member.