Share Trading comparison
easyMarkets vs Westpac Online Investing
easyMarkets and Westpac Online Investing aren't really competing in the same sport. easyMarkets is a CFD and options broker with no access to ASX shares or ETFs — you're trading derivatives, not owning the underlying asset. Westpac Online Investing is a full-service CHESS-sponsored broker for buying and holding real shares on the ASX and overseas markets. The biggest practical difference: one is a derivatives platform, the other is a genuine share broker.
Choose
easyMarkets
if…
- ›You want to trade CFDs, options, or forex with leverage rather than buy and hold physical shares
- ›You're happy with a minimum deposit of just $25 and want to fund via crypto, Skrill, or Neteller
- ›You need after-hours/overnight trading access
- ›You want a demo account to practice before putting real money in
- ›You don't need Australian sharemarket access at all
Choose
Westpac Online Investing
if…
- ›You want to buy and own ASX shares and ETFs under your own HIN with CHESS sponsorship
- ›You need a broker that supports joint accounts, trust accounts, SMSFs, and minor accounts
- ›You want access to 18 international markets plus managed funds and bonds
- ›You need a CGT report and an Australian tax statement at EOFY
- ›You prefer to keep your trading within the Westpac banking ecosystem with fast internal transfers
Where they differ
| Fact | easyMarkets | Westpac Online Investing |
|---|---|---|
| ASX shares & ETFs | Not supported | Supported (CHESS-sponsored) |
| Account types | Individual and company only | Individual, joint, company, trust, SMSF, minor |
| Minimum deposit | $25 | $500 |
| Inactivity fee | $25 | $0 |
| Deposit methods | Card, bank wire, BPAY, Skrill, Neteller, POLi, crypto | Westpac account, external bank, BPAY only |
Verdict
Choose easyMarkets for leveraged derivatives trading; choose Westpac Online Investing to actually own Australian and global shares.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | easyMarkets | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | No | Yes |
| SMSF account | No | Yes |
| Kids / minor account | No | Yes |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | No | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | 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) | No | No |
| Options trading | Yes | Yes |
| CFDs supported | Yes | No |
| Managed funds | No | Yes |
| Bonds supported | No | Yes |
| IPO access | No | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | — | 65% |
| FX spread (other currencies) | — | 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 | — | $50 |
| Corporate action fees | — | 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 | — | $4.95 |
| ASX brokerage percentage | — | 11% |
| ASX brokerage threshold | — | $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$4.95 |
| US brokerage percentage | — | 11% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $25 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $50 |
| identity and trust | ||
| Legal entity name | easyMarkets Pty Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 246,566 | 241,400 |
| Year founded | 2,003 | 2,010 |
| Parent / ownership | Blue Capital Markets Ltd (private, Cyprus-headquartered easyMarkets group) | 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 | private | public |
| money movement | ||
| Minimum initial deposit | $25 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | Credit/Debit Card (Visa, Mastercard, Amex), Bank Wire Transfer, BPAY, Skrill, Neteller, POLi, Crypto (BTC, ETH, USDT) | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | — | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1 business day to process; 3-10 business days for funds to arrive depending on method | 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 | Yes | 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 | phone, email, live chat, in-app |
| Support hours (AU time) | 24/5 (Monday to Friday, around the clock during 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 | structured courses | structured courses |
| tax and reporting | ||
| Australian tax statement | No | Yes |
| Distribution component breakdown | No | No |
| CGT calculator / report | No | Yes |
| Sharesight / Navexa integration | No | 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) | No | Yes |
| After-hours / overnight trading | Yes | No |