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Westpac online investing account
Trade shares, bonds and options with brokerage fees starting at 0.11%.
Finder's rating: 3.9/5
★★★★★
Westpac online investing can be used by ordinary Australians, companies, SMSFs or trusts to buy and sell shares and other securities online. With brokerage fees starting at $19.95 or 0.11% per transaction, it offers ASX-listed shares, global shares and managed funds.
$19.95 or 0.11%
Standard brokerage fee
ASX, NASDAQ, NYSE, Hong Kong Stock Exchange, Tokyo Stock Exchange, Frankfurt Stock Exchange, Singapore Exchange, Toronto Stock Exchange
Available markets
Phone, Email
Support
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Details
| Type of broker |
Online |
|---|---|
| ASX products |
Shares Exchange traded options Exchange traded funds Warrants |
| Available markets |
ASX NASDAQ NYSE Hong Kong Stock Exchange Tokyo Stock Exchange Frankfurt Stock Exchange Singapore Exchange Toronto Stock Exchange |
| Standard brokerage |
$19.95 or 0.11% |
| Support |
Phone |
Our verdict
Westpac online investing helps both new and seasoned investors, with its online and offline trading via the phone only adds to its appeal.
As one of Australia's Big Four banks, the company is well-backed, allowing it to offer a range of both domestic and overseas options to its clientele.
While it has plenty of benefits to non-banking customers, it will especially appeal to those who are already with the bank due to its ease of integration.
On the plus side the broker offers a range of trading tools, customisable frameworks, trend lines and alerts for share prices and market announcements, benefiting both short-term and long-term investors.
However, it is not as cheap as some of its competitors. Investors will need to decide if the additional features are worth the extra brokerage fees.
Pros
- Easy to use. If you're a casual investor, Westpac's standard account package and easy-to-use interface makes it simple to start trading. However, the Trader Pro option offers a range of more advanced features for active investors.
- Large number of trading options. From Australian and international shares to warrants, government bonds and more, Westpac online investing makes it possible to trade a large number of securities.
- Backing of a large bank. The fact that this share trading platform is backed by a Big Four bank gives customers peace of mind, knowing they are dealing with a trusted financial institution.
- No inactivity fee. There is no fee charged on the Australian markets account if it remains inactive for any time. This does not apply to the global markets account.
Cons
- No 24/7 customer support. Customer assistance is not offered 7 days a week by Westpac and there is no live chat option.
- Broker fees. The brokerage fees start at a higher price point than other brokers on the market.
- Inactivity fee. There is an inactivity fee of $63.50 per year on the global markets account.
About Westpac share trading
Westpac online investing is the Big Four bank's share trading platform.
Westpac was the first bank established in Australia back in 1817 before being renamed and becoming part of the Westpac Group. 1 of the top 5 listed companies by market capitalisation on the Australian Securities Exchange (ASX), the bank serves more than 13 million personal and business customers through a range of services, including consumer, business and institutional banking as well as wealth management services.
On its share trading accounts, regardless of what level of account you sign up for, Westpac aims to make share trading as easy and accessible as possible. It offers expert advice and analysis, real-time data and resources, mobile trading platforms and flexible features to help you reduce your exposure to risk.
| Fees |
★★★★★ 3.4/5 |
|
| Trading tools |
★★★★★ 3.9/5 |
|
| Research and education |
★★★★★ 2.4/5 |
|
| Available securities |
★★★★★ 3.5/5 |
|
| Customer support |
★★★★★ 3/5 |
What can I trade with Westpac online investing?
The most basic use of Westpac online investing is to buy and sell Australian shares on the ASX. However, customers can enjoy the flexibility of trading a wide range of securities through their online account.
You can trade:
- All ASX-listed securities
- International shares
- Managed funds
- All warrants listed on the ASX
- Exchange traded funds (ETFs) and exchange traded commodities (ETCs)
- Listed company-issued options
- Exchange traded options
- Listed unit trusts
- Listed convertible notes
- Renounceable rights
- Listed fixed interest securities
Margin lending is available through a straightforward share trading loan, while you can also open a cash investment account to operate in tandem with your online investing account.
Back to topWho is Westpac share trading designed for?
Westpac share trading is pretty much for everyone, ranging from individuals to companies, trusts, SMSFs and everything in between. Depending on what account you sign up for, Westpac has a service for casual investors right through to active investors.
The broker also allows trading in multiple countries, including the ASX, NASDAQ, New York Stock Exchange (NYSE), London Stock Exchange (LSE), Hong Kong Exchanges and Clearing (HKEX) and Tokyo Stock Exchange (TSE). It also allows investors to trade bonds and options, which should appeal to most investors.
What are Westpac online investing features?
Market data
With a standard Westpac online investing account, customers get access to free live prices for ASX-listed securities. If they upgrade to an advanced Trader Pro account, streaming live dynamic data means that prices and other data are constantly updated in real time, allowing investors to act quickly to take advantage of market fluctuations.
Research
Westpac standard customers receive a complimentary investor package which includes company research, market commentary and price charts. Intra-day updates are also included. For an extra fee customers can subscribe to a research package to receive more-detailed analysis, recommendations and more. Customers with an advanced account can also take advantage of full market depth tools and integrated charting.
Access
Orders can be placed online if you wish, or alternatively you can place orders over the phone from Monday to Friday, between 8am and 7pm (Sydney time). Customer support is also offered in the form of an online education centre and FAQs, plus phone and email support.
Order types
Westpac online investing allows traders to place limit orders, market orders and today only orders. You can also place conditional orders to automatically execute a buy or sell order after specific trigger conditions have been met on the market.
Available markets
Westpac online investing allows customers to trade on over 30 international exchanges, including the NYSE, NASDAQ, LSE and the TSE.
Watchlist functionality
Westpac online investing allows you to generate watchlists of up to 35 stocks, with the ability to save up to 50 watchlists. This allows you to keep track of market fluctuation.
Other features
Some of the other features that Westpac online investing customers can use include customised layouts and alerts, end-of-day data and the ability to earn Altitude Rewards points on every trade.
Back to topService levels
| Standard | Advanced (Trader Pro) | |
|---|---|---|
| Monthly fee | $0 | $79 per month |
| Brokerage fee | $19.95 | $19.95 |
| Data | Free live | Streaming live dynamic data |
| Investments | Trade Australian and international shares, options, warrants, managed funds, ETFs and ETCs | Trade shares, options, warrants and ETFs all off the same screen |
| Research and analysis | Company research, market commentary, trading ideas, research tools and advanced charting | Full market depth in real time, market map, integrated charting, options and warrant monitors |
Do I need to be a Westpac customer?
While you do not need to be an existing Westpac banking customer to sign up to its share trading platform, you'll need a cash account with the bank. You will create this at the same time as the share trading one.
You will need to have an alternate Australian bank account to sign up.
What support/information is available with Westpac online investing?
If you have any queries regarding your Westpac online investing account and trading, a wealth of information is available online through Westpac’s learning centre. This features trading tips, FAQs and a glossary of important terms.
Phone and email support is available from 8am to 7pm (Sydney time) from Monday to Friday, as is trading over the phone. If you wish to trade on global markets, Westpac’s global markets department is open 24 hours a day on US trading days.
Unfortunately, there is no live online chat option if you need immediate assistance.
What are the fees when using Westpac online investing?
Standard Westpac online investing account holders will not have to pay any ongoing fees. Advanced customers must pay a fee of $79 per month to access the Trader Pro package. A range of options – for example, the dynamic data exchange Microsoft Excel add-on – are available for an extra monthly fee.
Brokerage charges also apply whenever you make a trade. For online share, warrant, ETF and government bond trading, a $19.95 or 0.11% fee applies. If you place your trade over the phone, the brokerage fee rises to $59.90 or 0.44%.
It’s worth mentioning that the settlement method can affect your brokerage rate. While the above fees apply when you use an integrated Westpac account, those fees rise if you settle a trade from an account with another bank or use funds from a margin loan.
To get a full breakdown of Westpac's fees see below:
| Australian shares | Settlement source | Internet trading brokerage (GST inclusive) |
|---|---|---|
| Westpac Cash Investment Account¹ | $19.95 or 0.11%² | |
| Other bank account | $29.95 or 0.29%² | |
| Westpac Online Investment Loan¹ | $19.95 or 0.11%² |
| Exchange traded options | Settlement source | Internet trading brokerage (GST inclusive) |
|---|---|---|
| Westpac Cash Investment Account¹ | $38.95 or 0.35% of trade value² | |
| -Other bank account | $43.95 or 0.44% of trade value² |
| Global markets | Market | Internet and phone trading brokerage fee (GST free) |
|---|---|---|
| New York Stock Exchange | US$19.95 for trades up to US$5,000; or | |
| -NASDAQ | US$29.95 for trades up to US$10,000; or | |
| -NYSE Amex Equities | 0.31% for trades above US$10,0003 |
How do I apply for Westpac online investing?
You can open up a Westpac online investing account in a few simple steps.
- Fill out Westpac's application form.
- Chose a settlement method from cash account, to investing loan or Australian bank account.
- Choose whether you are an individual, joint, company, trust or SMSF account.
- Confirm you're over 18 and submit your application. You will need to provide your tax file number when you're trading.
- Start trading.
November 8, 2018
I have an account with St.George. I am not an Australian resident, so I have no tax file number. Can I still trade?
November 9, 2018
Hello Judy,
Thank you for your comment.
If you are buying shares in with Westpac for the first time, you will receive a welcome letter from Westpac’s share registry. You will need to complete and return some documents, such as your bank account details (for dividend payments), and a tax file number declaration. So therefore, TFN is needed to trade, and since you have no TFN, you’re unable to trade.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
September 24, 2018
Hi, please explain
What is the difference between free live data (for standard account) and Streaming live dynamic data (for advanced account).
Thank you
Regards
Peter
September 26, 2018
Hi Peter,
Thanks for getting in touch with finder. I hope all is well with you. :)
It basically means that for the standard account you get live data but they are limited. This may include live quotes on ASX listed securities. For advanced account, you will be able to view prices and other data continuously updated in real time, so you can act on the market action as it happens.
It would also be a good idea to directly get in touch with Westpac to learn more.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
July 2, 2018
What is the easiest and cheapest way to sell shares
July 8, 2018
Hi Debbie,
Thank you for getting in touch with Finder.
The most common way to buy and sell shares is on the share market using a broker or a trading platform. You can check our guide on share trading to get started. Our page has a comparison table that can help you look for platforms where you can sell (and buy) shares. The platforms featured on the page do not charge a monthly fee. Once you have chosen a particular platform, you may then click on the “Go to site” button and you will be redirected to their website where you can sign up or get in touch with their representatives for further assistance.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
April 9, 2018
Is there a minimum amount to make investment or trade ?
Thanks
April 9, 2018
Hi Gus,
Thanks for getting in touch with finder.
According to our page, all purchase orders must exceed $500 but there is no minimum limit for sales. Moreover, it is worth noting that there is no needed minimum balance to earn interest on a Westpac Cash Investment account.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
January 8, 2018
What about that I have St George saving account, still low fee for using the share trading tools?
January 9, 2018
HI Irene,
Thanks for your inquiry.
Westpac Online Investing offers competitive brokerage fees of $19.95 or 0.11% per transaction. It also offers value for money with regard to share trading.
You may check our review for Westpac Savings Accounts. You may click the name of your preferred account to know more details and you may click the green “Go to site” button to submit an online application through their official site.
You can also compare other options on Share Trading Accounts.
Best regards,
Rench