Share Trading comparison
moomoo vs Westpac Online Investing
The biggest practical difference between moomoo and Westpac Online Investing comes down to cost versus convenience. Moomoo is a low-cost, tech-heavy broker with ASX trades from $3 and near-zero FX spreads, while Westpac is a full-service bank-owned platform that charges higher brokerage but offers a broader range of asset classes and integrated banking. If you trade frequently or buy US stocks, moomoo will save you serious money; if you want everything in one Westpac ecosystem, the premium may be worth it.
Choose
moomoo
if…
- ›You trade ASX shares regularly — moomoo's $3 minimum brokerage is almost half Westpac's $4.95 minimum, and the percentage rate is a fraction (0.03% vs 0.11%).
- ›You buy US stocks — moomoo charges just $0.99 USD minimum with 0% commission and a 0.003% FX spread, compared to Westpac's $4.95 USD minimum, 0.11% commission and 0.65% FX spread.
- ›You want fractional US shares — moomoo supports them; Westpac does not.
- ›You want automated investing — moomoo offers multi-level auto-invest/DCA; Westpac has none.
- ›You want after-hours US trading and a desktop platform — moomoo offers both; Westpac offers neither.
Choose
Westpac Online Investing
if…
- ›You want a single banking-and-brokerage relationship — Westpac Online Investing links seamlessly with a Westpac Cash Investment Account, with same-day transfers between them.
- ›You need access to managed funds, bonds, or IPO allocations — Westpac offers all three; moomoo does not.
- ›You want a joint account or a kids/minor account — Westpac supports both; moomoo only offers individual, company, trust and SMSF accounts.
- ›You trade international markets beyond the US and Hong Kong — Westpac covers 18 countries including the UK, Europe, Canada and Singapore; moomoo only offers AU, US and HK.
- ›You prefer phone-based customer support with longer weekday hours — Westpac's phone line runs 8am-7pm Sydney time, while moomoo's support is structured around US trading hours.
Where they differ
| Fact | moomoo | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $3 | $4.95 |
| US brokerage minimum | $0.99 USD | $4.95 USD |
| FX spread (AUD/USD) | 0.003% | 0.65% |
| Markets available | AU, US, Hong Kong | 18 countries including UK, Europe, Canada, Singapore |
| Auto-invest / DCA | Yes (multi-level) | No |
Verdict
Choose moomoo for low-cost, frequent trading and US exposure; choose Westpac for banking integration and broader asset access.
Cost calculator
What would moomoo 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 | moomoo | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | chess | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | — | 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 | Hong Kong | 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 | No | Yes |
| Bonds supported | No | Yes |
| IPO access | No | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.3% | 65% |
| FX spread (other currencies) | 0.3% | 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 | $3 | $4.95 |
| ASX brokerage percentage | 0.03% | 11% |
| ASX brokerage threshold | $10,000 | $28,000 |
| ASX free trade conditions | No standard free trade conditions on ASX. Promotional sign-up rewards have offered free brokerage for limited periods to new clients. | 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$0.99 | US$4.95 |
| US brokerage percentage | 0% | 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 | $55 | $50 |
| identity and trust | ||
| Legal entity name | Futu Securities (Australia) Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 224,663 | 241,400 |
| Year founded | 2,022 | 2,010 |
| Parent / ownership | Futu Holdings Ltd (NASDAQ: FUTU) | 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 | PayID, Bank transfer (OSKO/NPP) | 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 | 1-3 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 | Yes | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | sms | SMS + authenticator app |
| Customer support channels | Phone, Live chat, Email, In-app | phone, email, live chat, in-app |
| Support hours (AU time) | 24/5 during US trading days; 9:30am-9:30pm AET weekends and holidays | 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 | video + courses | structured courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | — | 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 | Yes | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | Yes | No |