Alternatives to WeBull in Australia
Australians can’t access WeBull, so here are 6 affordable alternatives if you want to trade US stocks.
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WeBull is a zero-commission trading platform that allows users to trade stocks, options and ETFs on US markets. Unfortunately, it’s only available to US residents, so you can’t access WeBull from Australia.
The good news is that there are several other US stock trading platforms that offer zero or low-cost brokerage for Australians. Here are six options worth considering.
What is WeBull?
WeBull is a commission-free stock trading platform that offers real-time market data. Users in the US can trade stocks, options, ETFs and ADRs on WeBull and the platform is specifically designed for mobile users.
WeBull is popular for its no-fee trading, zero account minimums and user-friendly interface. It’s a solid choice for casual investors, but also offers a range of advanced charts and analysis tools to suit more experienced traders.
You can find out more in the WeBull review from Finder US – just remember that you can’t access the platform unless you’re a US resident.
Alternatives to WeBull
1. eToro
eToro offers zero-commission US, Hong Kong and European stock trading and a popular copy trading feature for investors.
Just like WeBull, eToro doesn't charge any commissions when you trade stocks. The platform is perhaps best known for its social trading approach and the copy trading feature that lets you make the same moves as eToro's top traders. eToro also lets you access stocks, forex, CFDs and cryptocurrency from one account, opening up a wide range of trading possibilities.
- Brokerage fee: $0
- Inactivity fee: $0
- Products: US stocks, European stocks, Hong Kong stocks, forex, cryptocurrency, commodities
- Access: Mobile app and desktop
Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.
2. IG
Open an IG share trading account and you can take advantage of zero trading fees on US and global stocks.
IG doesn’t just offer commission-free trading on US stocks and ETFs, it also offers zero-fee trades on global markets including the UK, Germany and Ireland. You can also trade shares on the ASX, though brokerage fees apply, and use your IG account to trade forex, cryptocurrencies and commodities.
- Brokerage fee: From $5 for ASX shares, $0 for global shares
- Inactivity fee: $50 per quarter
- Products: Australian and international shares, forex, CFDs (forex, cryptocurrency, commodities)
- Access: Mobile and desktop
3. CMC Markets
CMC Markets offers fee-free stock trading on US, UK, Canadian and Japanese markets.
When you open a CMC Markets Invest account, you can trade local and international shares, ETFs, options and more. ASX trades attract a brokerage fee, but trades on global markets (including the US) are commission free. CMC Markets also offers a separate account for CFD trading if you want to diversify even further.
- Brokerage fee: From $11 for ASX stocks (CHESS), $0 for global stocks
- Inactivity fee: $0
- Products: Australian and global shares, options, managed funds, forex, commodities, cryptocurrency
- Access: Desktop or mobile app
4. Saxo Capital Markets
Access low brokerage fees when you trade over 19,000 stocks on 40+ exchanges around the world.
If you open an online trading account with Saxo Capital Markets, you can trade global stocks, ETFs, bonds, forex, CFDs and more. Saxo Capital Markets offers access to shares on the ASX, the NASDAQ and the NYSE in the US, as well as a wide range of exchanges across Asia and Europe. However, be aware that brokerage fees apply.
- Brokerage fee: From $5 for ASX stocks, US$4 for US stocks
- Inactivity fee: $0
- Products: ASX-listed stocks, global stocks, forex, CFDs, stock options
- Access: Full-service broker, desktop platform
5. Stake
This mobile and desktop trading app offers zero-fee trading on over 3,800 US stocks and ETFs.
Stake is designed to provide Aussie investors with easy and affordable access to US stocks. Account holders can trade over 3,800 stocks and ETFs on US exchanges like the NASDAQ and the NYSE. There’s also a paid monthly plan available for traders who want to access advanced features, but Stake doesn’t offer leverage trading or access to other assets such as forex.
- Brokerage fee: $0 for US stocks
- Inactivity fee: $0
- Products: US shares, ETFs
- Access: Online only
6. Interactive Brokers
Enjoy low brokerage fees on Australian and international shares, on a platform that is better suited to experienced traders than beginners.
Interactive Brokers is a US-based online trading platform that offers access to a huge range of global markets. You can trade everything from stocks and ETFs to forex and metals, with access to the ASX, NASDAQ, NYSE, London Stock Exchange and more. Brokerage fees are low, but the fee structure is complex and the advanced features of this platform are better suited to experienced traders.
- Brokerage fee: From $5 for ASX stocks, from US$0.0035 per share (capped at 1% of trade value) for US stocks
- Inactivity fee: US$10 per month
- Products: ASX-listed stocks, global stocks, options, futures, forex, currencies, commodities, bonds, ETFs, mutual funds
- Access: Online only
Compare share trading platforms
Looking for something else? Compare a range of other share trading platforms in the table below.
How do WeBull’s fees compare?
There is no minimum investment required to open a WeBull account. There are also minimal fees when using the platform:
- Trading fee: US$0
- Annual fee: 0%
- Option trade fee: US$0
- ACH deposit from US bank account: US$0
- ACH withdrawal to US bank account: US$0
However, fees do apply in some circumstances:
- Deposit via wire transfer from US bank account: US$8
- Withdrawal via wire transfer to US bank account: US$25
- Deposit via wire transfer from international bank account: US$12.50
- Withdrawal via wire transfer to US bank account: US$45
Fees also apply when you transfer stocks from WeBull, while margin traders must also be aware of the interest rate that applies to their loan.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
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