Westpac Online Investing Advanced Dynamic Pricing Account Review

Information verified correct on March 30th, 2017

Enjoy access to streaming dynamic data and competitive brokerage fees when you buy and sell shares and other securities through Westpac Online Investing Dynamic Pricing

As one of the largest banks in the country, Westpac offers a wide selection of banking and financial products and services to its customers. Westpac Online Investing is the bank’s online securities trading platform, backed by the bank’s financial strength and capabilities.

The Westpac Online Investing Advanced Dynamic Pricing Account, also known as Trader Pro, is the company’s offering for experienced traders, offering a comprehensive range of features to help you trade efficiently and effectively. For a fee of $79 per month the Investing Dynamic Pricing platform offers streaming live dynamic data, use of the WebIRESS platform, full market depth reports, market news, charting and much more.

With the ability to trade shares, options, warrants and ETFs all from one customisable platform, Westpac Online Investing Dynamic Pricing is a useful tool for active traders.

What can I trade with Westpac Online Investing Dynamic Pricing?

There are a wide variety of securities that you can trade using the Westpac Online Investing Dynamic Pricing account, including:

  • All ASX-listed securities
  • All ASX-listed warrants
  • International shares
  • 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

What features come with the Westpac Online Investing Dynamic Pricing Account

    • Market data. Investors can take advantage of streaming live dynamic data through their Dynamic Pricing account. This lets them keep up to date with market changes and then make trades at the right time.
    • Research. Westpac Online Investing Dynamic Pricing offers a number of research tools and resources to customers, including full market depth, market map, integrated charting, intra-day market updates, trading ideas and insights, and detailed market and company information.
    • Access. Customers can choose to make trades online or over the phone, however higher brokerage fees apply to phone trades. In addition, Westpac Online Investing has a smartphone app that allows you to trade from iOS and Android phones.
    • Order types. Westpac Online Investing Dynamic Pricing account holders can place orders at market, at limit and today only. Other conditional orders, including stop loss orders, can be placed and will be automatically lodged when certain market ‘triggers’ occur.
    • Available markets. Customers can access more than 30 international stock exchanges, including the New York Stock Exchange, NASDAQ, London Stock Exchange and the Tokyo Stock Exchange.
    • Valuation tool. If you’re trading options, a Dynamic Pricing account features a valuation tool that displays a range of calculated values for options based on potential market scenarios.
    • Other features. Customers can also take advantage of fully customisable layouts, the opportunity to have their monthly fee rebated if they make frequent trades, and real time portfolio tracking.

What if I don't need all of these features?

Westpac Online’s Advanced Dynamic Pricing Account is a high-level account. However, the account can be upgraded even further if you’re willing to pay additional fees. For example, if you pay $35 per month you can add Dynamic Data Exchange to your account, which is a Microsoft Excel add-in that provides dynamic updates.

If you’re looking for an entry-level account, Westpac Online Investing also offers its Live Pricing account. This does not attract any monthly fee but it only offers live pricing updates and a more basic level of features.

What support/information is available with Westpac Online Investing Dynamic Pricing?

If you need help getting started with your Westpac Online Investing Dynamic Pricing Account, Westpac has an online Learning Centre. This runs customers through the essentials of trading and also features a handy FAQ and glossary of terms.

For specific enquiries or help with particular trades, phone and email customer support is available from 8am to 7pm Monday to Friday. Unfortunately there is no live online chat support offered at this time.

What fees and charges will I pay when using Westpac Online Investing Dynamic Pricing

  • Ongoing fees. A $79 monthly fee applies to this account. However, if you make 15 or more trades per month or accrue $350 or more in brokerage fees, this monthly charge is rebated.
  • Brokerage fees. If you place an online trade and your settlement account is a Westpac Cash Investment Account, a Westpac Online Investment Loan or a DIY Super Working Account, you will be charged a $19.95 or 0.11% brokerage fee, whichever is greater. However, if your settlement account is any bank account, the fee rises to $29.95 or 0.29%. In addition, if you place your trade over the phone, a brokerage fee of $59.90 or 0.44% will apply.

A range of different brokerage fees also apply for options, warrants, ETFs and global markets trades, so visit the Westpac Online Investing website for a full breakdown of the relevant charges.

The goods and not-so good about the Westpac Online Investing Dynamic Pricing Account

What's good?
  • Low fees. Westpac’s online brokerage fees are competitive when compared with those charged by other trading platforms.
  • Dynamic data. Streaming dynamic data allows investors to act instantly when the market moves.
  • Extensive research resources. The Dynamic Pricing Account customers have access to an extensive range of research tools to help underpin every trade.
  • Backed by a large bank. Westpac is one of Australia’s largest banks, giving customers confidence and peace of mind that they are dealing with a trusted organisation.
What's not so good?
  • No online chat. No live online chat support option is offered.
  • Not ideal for casual investors. As this account is designed more with active and experienced investors in mind, casual investors may wish to look into a Westpac Online Investing Live Pricing account.

How do I apply for the Westpac Online Investing Dynamic Pricing Account?

Click the ‘Go to Site’ link on this page to be redirected to the Westpac Online Investing Dynamic Pricing application form. It takes roughly 10 minutes to apply online, although the process is a little quicker if you’re already a Westpac internet banking customer.

Once you’ve chosen a settlement account, you must also check whether you meet the following eligibility criteria. You must:

  • Be an Australian resident
  • Be over 18
  • Supply a tax file number

Important questions about the Westpac Online Investing Dynamic Pricing Account you've never asked

Do you need to be an Australian resident to open an account?

Yes, these accounts are only offered to Australian residents.

What accounts are your dividends paid into?

Any dividends you receive will be paid into your nominated settlement account, which could be a Westpac Cash Investment Account, a Westpac Online Investing Loan or any Australian bank account.

What brokerage fees apply to options trading?

Internet trades when your settlement account is a Westpac Cash Investment Account or a DIY Super Working Account will attract a $38.95 or 0.35% fee. This rises to $43.95 or 0.44% if your settlement account is any Australian bank account, or to $59.90 or 0.55% if you place your trade over the phone.

I’m a new investor - is this account a good option for me?

A Dynamic Pricing account offers a lot of features that casual investors may not be able to fully benefit from. You may wish to consider the features of an entry-level Live Pricing account from Westpac Online Investing.

How can I access the research tools from my account?

All you have to do is navigate to the Quotes & Research section and then click on ‘Research’.

When can I place a phone order?

You can trade over the phone by calling 13 13 31, 8am to 7pm Monday to Friday.

How long will my order stay open for?

At limit and conditional orders can stay open for up to 21 days or until they are filled or you decide to cancel them.

What tablets can I use the Westpac mobile investing app on?

The app currently works on iPads with Apple iOS 4.3+.

Can I trade from my smartphone?

Yes, the Westpac mobile investing app runs on smartphones with Apple iOS 4.3+ or Android 2.3+.

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