Share Trading comparison
Tiger Brokers vs Westpac Online Investing
The biggest practical difference between Tiger Brokers and Westpac Online Investing comes down to cost versus convenience. Tiger Brokers is a low-cost, tech-heavy platform with ASX brokerage from $3 and razor-thin FX spreads of 0.0055%, while Westpac charges a minimum of $4.95 on ASX trades and a 0.65% FX spread. But Westpac is CHESS-sponsored, gives you a personal HIN, and plugs directly into the Westpac banking ecosystem — Tiger uses a mixed custody model.
Choose
Tiger Brokers
if…
- ›You want the cheapest ASX trades around — $3 minimum brokerage vs Westpac's $4.95
- ›You trade US stocks regularly and want near-zero FX spreads (0.0055% vs Westpac's 0.65%)
- ›You want fractional US shares, auto-invest/DCA features, and after-hours trading
- ›You're happy with a non-CHESS custody model (Tiger holds assets in your name but not under a personal HIN)
- ›You want a demo account to test strategies before committing real money
Choose
Westpac Online Investing
if…
- ›You insist on CHESS sponsorship with your own HIN for direct ASX share ownership
- ›You're already a Westpac customer and want seamless transfers between banking and brokerage
- ›You need access to a broader range of global markets including Canada, Europe, and Singapore
- ›You want to trade managed funds and bonds alongside shares
- ›You need a kids/minor account — Westpac offers one, Tiger doesn't
Where they differ
| Fact | Tiger Brokers | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $3 | $4.95 |
| FX spread (AUD/USD) | 0.0055% | 0.65% |
| CHESS sponsorship | Mixed custody (not pure CHESS) | Full CHESS with personal HIN |
| Fractional US shares | Yes | No |
| Auto-invest / DCA | Yes (single asset level) | No |
Verdict
Choose Tiger Brokers for low-cost, feature-rich trading; choose Westpac for CHESS ownership and banking integration.
Cost calculator
What would Tiger Brokers 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 | Tiger Brokers | 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 | No | 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, China A-shares | 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 | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.55% | 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 | $3 | $4.95 |
| ASX brokerage percentage | 0.03% | 11% |
| ASX brokerage threshold | $10,000 | $28,000 |
| ASX free trade conditions | New clients receive zero-brokerage on up to 4 trades per month on ASX/US stocks, ETFs or options (minimum brokerage waived; third-party fees still apply). | 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$2 | US$4.95 |
| US brokerage percentage | 0.01% | 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 | $50 | $50 |
| identity and trust | ||
| Legal entity name | Tiger Brokers (AU) Pty Limited | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 300,767 | 241,400 |
| Year founded | 2,020 | 2,010 |
| Parent / ownership | UP Fintech Holding Limited (NASDAQ: TIGR) | 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, PayTo, Bank transfer (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 (Tiger review) plus bank processing; can arrive same day | 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 |
| 2FA support | authenticator app | SMS + authenticator app |
| Customer support channels | phone, email, live chat, in-app | phone, email, live chat, in-app |
| Support hours (AU time) | Phone: 9am-5pm weekdays (AET). Live chat: 9am-8:30pm weekdays. Email: ongoing. | 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 |
| 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 | single asset | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | Yes | No |