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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 and 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.
AUD $19.95 or 0.11%
Standard brokerage fee
ASX, NASDAQ, NYSE, London Stock Exchange, 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 London Stock Exchange Hong Kong Stock Exchange Tokyo Stock Exchange Frankfurt Stock Exchange Singapore Exchange Toronto Stock Exchange |
| Standard brokerage |
AUD $19.95 or 0.11% |
| Support |
Phone |
Westpac Online Investing is Westpac’s online share trading platform. As one of Australia’s Big Four banks, Westpac was the first bank established in Australia and is part of the Westpac Group. One of the top five listed companies by market capitalisation on the Australian Securities Exchange, Westpac serves more than 13 million personal and business customers.
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.
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 Australian Stock Exchange. 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)
- Exchange Traded Commodities (ETCs)
- Exchange Traded Options
- Listed company-issued 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 topWhat are Westpac Online Investing features?
| Fees |
★★★★★ 3.4/5 |
|
| Trading tools |
★★★★★ 3.9/5 |
|
| Research and education |
★★★★★ 2.4/5 |
|
| Available securities |
★★★★★ 3.5/5 |
|
| Customer support |
★★★★★ 3/5 |
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, while 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, 8am to 7pm. 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 New York Stock Exchange, NASDAQ, London Stock Exchange, and the Tokyo Exchange.
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 |
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 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, however, 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-in, 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%.
Finally, 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.
Back to topWhat are the pros and cons of using Westpac Online Investing?
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 much 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 the peace of mind of knowing they are dealing with a trusted financial institution.
- No inactivity fee. There is no fee charged on the Australian markets account (not global account) if it remains inactive for any time
Cons
- No 24/7 customer support. Customer assistance is not offered seven days a week by Westpac, and there is no live chat option.
- Broker fees. The brokerage fees start higher than other brokers on the market
- Inactivity fee: There is an inactivity fee of $63.50 per year on the global markets account
How do I apply for Westpac Online Investing?
If you’d like to apply for a Westpac Online Investing account, you'll need to go through Westpac's application page. You’ll then need to select a settlement method - Westpac Cash Investment Account, Westpac Online Investing Loan or any Australian bank account - before beginning the application process.
Select whether you would like to open an individual, joint, company or trust/SMSF account, then tick the right box to indicate whether or not you are an existing Westpac Online Banking customer. If you are an existing customer, Westpac will already have some of your details on file and you can save time completing the form.
You’ll need to be an Australian resident and 18 years of age or older in order to apply. The application process takes between five and 10 minutes and you’ll also need a tax file number and your existing Westpac customer account details (if applicable).
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