Share Trading comparison
CommSec vs Westpac Online Investing
CommSec and Westpac Online Investing are both bank-backed brokers with CHESS sponsorship, no monthly fees, and similar account types. The biggest practical difference is brokerage cost: CommSec charges just 0.12% on ASX trades (capped at $29.95 for smaller trades without a CDIA), while Westpac charges 0.11% but with a lower $4.95 minimum. Where CommSec pulls ahead is US trading — it offers fractional shares, a razor-thin 0.0055% FX spread, and a USD account. Westpac's FX spread is 0.65%, making international trades far more expensive.
Choose
CommSec
if…
- ›You trade US stocks regularly and want a 0.0055% FX spread (vs Westpac's 0.65%) plus fractional shares on US equities
- ›You want the lowest possible ASX brokerage for large trades — CommSec's 0.12% above $25,000 beats Westpac's 0.11% only up to $28,000
- ›You value after-hours trading access, which CommSec offers and Westpac does not
- ›You want a fully integrated Commonwealth Bank experience with instant CDIA transfers and branch deposits
- ›You occasionally trade international markets beyond the US and UK — CommSec covers 13 countries including Japan, Hong Kong, and France
Choose
Westpac Online Investing
if…
- ›You make smaller ASX trades and want the $4.95 minimum brokerage (vs CommSec's $5.00 with a CDIA or $29.95 without)
- ›You want a built-in CGT calculator — Westpac includes one, CommSec does not
- ›You prefer Westpac's banking ecosystem and want to settle trades via a Westpac Cash Investment Account
- ›You need extended phone support hours including 24-hour coverage on US trading days
- ›You trade on European or Asian markets — Westpac covers 18 countries including Singapore, Switzerland, and Finland
Where they differ
| Fact | CommSec | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $5.00 (with CDIA) / $29.95 (without) | $4.95 (with Westpac CIA) / $29.95 (without) |
| FX spread (AUD/USD) | 0.0055% | 0.65% |
| Fractional shares (US) | Yes | No |
| After-hours / overnight trading | Yes | No |
| CGT calculator / report | No | Yes |
Verdict
Choose CommSec for low-cost US trading and fractional shares; choose Westpac for cheaper small ASX trades and built-in CGT reporting.
Cost calculator
What would CommSec 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 | CommSec | 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, France, Germany, Italy, Netherlands, Hong Kong, Japan, Belgium, Norway, Spain, Sweden | 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) | 0.55% | 65% |
| FX spread (other currencies) | 0.55% | 65% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | No | — |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $59.95 | $50 |
| Corporate action fees | Corporate actions (SPP, rights issue, takeovers, demergers, dividend payments) are not separately charged by CommSec. They are processed via the share registry/issuer. CommSec does not send trade confirmations for off-market events, so Sharesight/other tracker sync requires manual updates. Failed-settlement fees apply if payment is late ($10 minimum or 0.66% above $1,500). | 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 | 0.12% | 11% |
| ASX brokerage threshold | $25,000 | $28,000 |
| ASX free trade conditions | Conditional: $5 minimum requires linked CDIA (Commonwealth Direct Investment Account) or CommSec Margin Loan as the settlement account AND CHESS sponsorship with CommSec. Without CDIA linkage, brokerage starts at $29.95 for trades up to $9,999.99 and 0.31% above. Promotional $0 brokerage offers occasionally run for new customers (e.g. 30 free trades up to $50,000 each, May–Nov 2026 offer for new sign-ups). | 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$5 | US$4.95 |
| US brokerage percentage | 0.12% | 11% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $54 | $50 |
| identity and trust | ||
| Legal entity name | Commonwealth Securities Limited | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 238,814 | 241,400 |
| Year founded | 1,995 | 2,010 |
| Parent / ownership | Commonwealth Bank of Australia (ASX: CBA) | 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 | $0 |
| Deposit methods | BPAY, Direct debit, Bank transfer (CDIA), Cheque, Cash deposit (CBA branch/ATM) | 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 | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) | 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 | No | No |
| Demo account | No | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS + authenticator | SMS + authenticator app |
| Customer support channels | phone, email, live chat (in-app), secure mail (in-platform), social media (X, Instagram) | phone, email, live chat, in-app |
| Support hours (AU time) | Phone 8am-6pm Mon-Fri Sydney time (general & options); extended trading-hours support during ASX session. No 24/7 support. | 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 | structured courses | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | No | No |
| CGT calculator / report | No | 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 | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | Yes | No |