Share Trading comparison
Bell Direct vs Westpac Online Investing
The biggest practical difference between Bell Direct and Westpac Online Investing comes down to how you pay for trades. Westpac offers a slightly cheaper ASX brokerage floor ($4.95 vs $5.00) but only if you settle through its linked Cash Investment Account — use an external bank and it jumps to $29.95. Bell Direct keeps its flat 0.1% structure regardless of where your cash comes from, making it more predictable for occasional traders.
Choose
Bell Direct
if…
- ›You want the lowest ASX brokerage percentage (0.1%) on trades above $25,000 — cheaper than Westpac's 0.11% above $28,000
- ›You trade US stocks and want zero US brokerage minimum and fractional US shares, which Westpac doesn't offer
- ›You prefer a straightforward fee structure that doesn't penalise you for settling from an external bank account
- ›You want a CHESS-sponsored HIN with access to IPOs, options, bonds, and managed funds all in one place
- ›You need a desktop trading platform alongside the mobile app — Westpac is mobile-only
Choose
Westpac Online Investing
if…
- ›You're already a Westpac customer and can use the linked Cash Investment Account to get the $4.95 ASX minimum brokerage
- ›You want free real-time ASX market data — Bell Direct charges $27.50/month for it
- ›You trade on international markets beyond the US and Australia — Westpac covers 18 countries
- ›You value after-hours support and a live chat option, plus authenticator-app 2FA instead of just SMS
- ›You want structured educational courses rather than basic articles to build your investing knowledge
Where they differ
| Fact | Bell Direct | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $5.00 | $4.95 (with Westpac Cash Investment Account) or $29.95 (external bank) |
| US brokerage minimum | $0 USD | $4.95 USD |
| Market data fees | $27.50/month | $0/month |
| International markets | Australia and US only | 18 countries including Canada, UK, Europe, Hong Kong and Singapore |
| Desktop platform | Yes | No (mobile only) |
Verdict
Choose Bell Direct for cheaper US trades and predictable pricing; choose Westpac if you're a Westpac customer who trades globally.
Cost calculator
What would Bell Direct vs Westpac Online Investing actually cost you?
Punch in your trade size and frequency. We'll do the full brokerage + FX + fees maths.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bell Direct | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | Yes | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | Yes | Yes |
| asset coverage | ||
| ASX shares supported | Yes | Yes |
| ASX ETFs supported | Yes | Yes |
| US shares supported | Yes | Yes |
| US ETFs supported | Yes | Yes |
| Other markets supported | United States, Canada, United Kingdom, Germany, France, Switzerland, Netherlands, Belgium, Italy, Spain, Sweden, Norway, Denmark, Finland, Austria, Portugal, Ireland, Hong Kong, Singapore | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | Yes | No |
| Options trading | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 65% |
| FX spread (other currencies) | — | 65% |
| Holds USD account | Yes | Yes |
| Market data fees | $27.5/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $60 | $50 |
| Corporate action fees | Fail fee $110 or 0.11% daily for unsettled trades; corporate action handling generally pass-through via CHESS sponsorship | Corporate action processing (rights issues, takeovers, SPPs) is generally free for CHESS-sponsored clients — Westpac/AUSIEX passes elections to issuers/registries. Specific fees only apply in exceptional circumstances per the FSG. |
| costs visible | ||
| ASX brokerage minimum | $5 | $4.95 |
| ASX brokerage percentage | 10% | 11% |
| ASX brokerage threshold | $25,000 | $28,000 |
| ASX free trade conditions | — | No free brokerage offered. Lower brokerage tiers ($4.95 minimum) require settlement via linked Westpac Cash Investment Account; settling via other-bank accounts incurs $29.95 / 0.29% minimum. |
| US brokerage minimum | US$0 | US$4.95 |
| US brokerage percentage | — | 11% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | $50 |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 314,341 | 241,400 |
| Year founded | 2,007 | 2,010 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | Brand: Westpac Banking Corporation (ASX: WBC); operator AUSIEX is wholly owned by Nomura Research Institute, Ltd. (TSE: 4307) |
| Country of incorporation | AU | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, Bank transfer (EFT), Direct credit | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 (ASX), T+1 (US) | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days | Same-day to 1 business day for Westpac-to-Westpac transfers; 1-2 business days to external bank accounts |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | Yes | No |
| Demo account | — | No |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS | SMS + authenticator app |
| Customer support channels | phone, email, online forms | phone, email, live chat, in-app |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri market hours) | Phone: 8am-7pm Sydney time Mon-Fri (domestic); 24 hours on US trading days for international; Live chat: 9:30am-5pm Sydney time Mon-Fri |
| Education content | basic articles | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | Yes | No |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | — | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | — | No |