Westpac Online Investing Standard Live Pricing Account Review

Information verified correct on December 6th, 2016

With free live pricing and a range of research tools, Westpac’s award-winning share trading platform lets you take control of your investments

Westpac is one of Australia’s largest banks and was the first bank established in the country. Now one of the country’s ‘big four’ banks, Westpac looks after the financial needs of millions of Australians.

Special Westpac Online Investing offer

Get one month's free brokerage if you're a new Westpac Online Investing customer and open an account before 30 June 2016. You won't be charged on the first $50 of brokerage on each trade settled within 30 days of account opening. Click "Go to site" to find out full terms and conditions.

Westpac Online Investing is the bank’s share trading platform, and Live Pricing is the basic account type available to Online Investing customers. Westpac Online Investing Live Pricing makes it quick and easy to trade Australian and international shares, options and managed funds. Featuring free live prices, a host of research tools, market data and watch list functionality, it’s got the tools to benefit both casual and experienced investors.

Backed by the financial might of Westpac, Online Investing Live Pricing offers peace of mind to customers who want to deal with a trusted organisation. And when you consider that Westpac took out the Australian Financial Review Smart Investor Blue Ribbon award for broker of the year in both 2011 and 2012, Westpac Online Investing Live Pricing provides an attractive online share trading platform for potential customers.

What can I trade with Westpac Online Investing Live Pricing?

Traders using Westpac Online Investing Live Pricing can purchase a wide range of investments, including everything from Australian shares to warrants and managed funds. Customers can trade:

  • All ASX-listed securities
  • All ASX-listed warrants
  • Managed funds
  • Exchange Trade 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

Trades can be lodged either online or over the phone.

What are the features of Westpac Online Share trading account?

  • You get live market data.  It offers free live prices of ASX listed securities. This allows you to keep pace with market fluctuations and make trades at the right moment.
  • You can do as much, or little research as you like. Westpac Online Investing Live Pricing offers an extensive selection of research tools to help customers make informed trading decisions, including stock recommendations, Westpac economic reports, trading ideas, a stock screener and more. Account holders also have the option of upgrading to a Research Package to take advantage of extra features like advanced stock analysis and recommendations, as well as Morningstar premium research.
  • Unlimited, online access. Westpac Online Investing Live Pricing allows you to make trades online and over the phone. It also has a smartphone-optimised app to allow you to trade from your iPhone or Android smartphone. In terms of customer support, phone and email assistance is offered alongside an online learning centre to assist you with any questions that you may have.
  • A variety of order types. Westpac Online Investing Live Pricing customers can place limit orders, market orders and stop loss orders. Other conditional orders can also be placed to execute a buy or sell trade whenever certain market conditions arise.
  • A range of available markets. This online trading platform allows you to trade Australian and international shares, options, warrants, managed funds, ETFs and ETCs. Trading is available on more than 30 international stock exchanges.
  • You get a watch list functionality. If you wish to monitor the progress of certain stocks you can establish up to 35 watch lists in your account. Each watch list can contain up to 50 stocks, allowing you to keep track of the market and trade at an opportune time.
  • Plus a range of other features. Westpac Online Investing Live Pricing also offers market commentary, price charts, customised alerts, advanced charting and end-of-day data reports.

Service levels

As mentioned above, Live Pricing is the entry-level account option for Westpac Online Investing customers. Those who want a higher level of features can upgrade to a Westpac Online Investing Dynamic Pricing account for $79 a month. This advanced option provides access to streaming dynamic data and allows customers to trade shares, options, warrants and ETFs all from the one platform. It also includes integrated charting and more detailed research tools, and allows account holders to track their portfolio in real-time.

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

If you have any queries about your Westpac Online Investing Live Pricing account or trading, Westpac offers phone and email support Monday to Friday, from 8am to 7pm. You can phone Westpac directly or send them an email with any questions that you may have.

Unfortunately, no live chat support is offered for Westpac Online Investing Live Pricing at this time.

For help using your account, Westpac provides a comprehensive online learning centre to help you understand the ins and outs of trading and how the Live Pricing platform works. There’s also an FAQ and glossary section to help you wrap your head around any difficult aspects of trading.

Fees when using Westpac Online Investing Live Pricing

Consider the following fees and charges before deciding whether Westpac Online Investing Live Pricing is the right online share trading platform for you:

  • Ongoing fees. There are no ongoing fees that apply to this account.
  • Brokerage fees. You’ll have to pay brokerage whenever you make a trade through Westpac Online Investing Live Pricing. A fee of $19.95 or 0.11% of the trade value applies, depending on which of these two options is greater. However, this fee rises to $59.90 or 0.44% (whichever is greater) for trades placed over the phone.

It’s also worth pointing out that the above fees only apply when trades are settled into a Westpac Cash Investment Account, a Westpac Online Investment Loan or a DIY Super Working Account. If your funds are settled in an account with another bank, the brokerage fee per online trade rises to $29.95 or 0.29%.

The pluses and minuses of using the Westpac Online Share Trading account

Pluses

  • It's backed by Westpac. Westpac Online Investing is an award-winning online broker and is backed by one of Australia’s biggest banks.
  • It's easy to use. The Westpac Online Investing interface is simple to use, making share trading more accessible for casual investors.
  • There are a wide range of trading options. Westpac Online Investing allows customers to trade everything from Australian and international shares to a wide range of more complex and exotic securities.

Minuses

  • There is no 24/7 support. Unfortunately, customer support is not available 24 hours a day, seven days a week and there is no live online chat option.
  • Share trading in nature is risky. Investing in shares involves a degree of risk and there is no guarantee that you will make a profit.

How do I apply for Westpac Online Investing Live Pricing?

If you’d like to apply for a Westpac Online Investing Live Pricing account, click the ‘Go to Site’ link on this page to be securely redirected to the Online Investing website. You can then apply online in roughly 10 minutes or download, fill out and submit an application form.

The next step is to choose a settlement option - a Westpac Cash Investment account, Westpac Online Investing Loan or any Australian bank account - and choose whether you are opening an individual, joint, company or trust/SMSF account.

You’ll need to be an Australian resident aged 18 years or over to open an account, and you must also supply a tax file number.

If you’re an existing Westpac internet banking customer, you can save some time during the application process as the bank will already have your details on record.

Of course, before you apply it’s important to make sure you are fully aware of the financial risks involved in share trading.

Need some extra help?

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

Yes, you’ll need to be over 18 years of age and an Australian resident to open a Westpac Online Investing Live Pricing account.

What accounts are your dividends paid into?

Any dividends you receive will be paid into the settlement account linked to your Online Investing account. You select your preferred account during the application process.

Can I trade from my smartphone?

Yes, Westpac offers an app to allow you to trade from both Apple and Android smartphones. Look for it in the relevant app store.

I want dynamic pricing - is that available from Westpac Online Investing?

Yes, you can upgrade to a Dynamic Pricing account for an extra monthly fee.

How much will I need to pay when I make a trade?

The brokerage fee for online trades is $19.95 or 0.11% of the trade value, whichever is greater. This rises to $59.90 or 0.44% for trades placed over the phone.

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