Share Trading comparison
Vanguard Personal Investor vs Westpac Online Investing
The biggest difference between Vanguard Personal Investor and Westpac Online Investing comes down to cost versus capability. Vanguard offers zero brokerage on ASX trades and Vanguard ETF buys, but operates as a custodian and won't let you trade US shares. Westpac charges from $4.95 per trade but gives you full CHESS sponsorship, international markets, and a much wider feature set.
Choose
Vanguard Personal Investor
if…
- ›You want zero brokerage on ASX trades — Vanguard charges $0 to buy Vanguard ETFs and $0 for managed fund purchases, with only $9 on sells
- ›You're building a long-term portfolio of Vanguard products and want to dollar-cost average with auto-invest
- ›You want to start small — the minimum initial deposit is $200 and subsequent purchases are just $1
- ›You want a simple fee structure with no monthly, inactivity, or market data fees whatsoever
- ›You're happy with a custodian model and don't need your own HIN or the ability to participate in corporate actions
Choose
Westpac Online Investing
if…
- ›You want CHESS sponsorship and your own HIN so shares are held in your name on the ASX register
- ›You need to trade US and international shares — Westpac covers 18 global markets with a USD account
- ›You want to trade options, access IPOs, or buy bonds alongside your equities
- ›You value free real-time market data and research reports to inform your trading decisions
- ›You want to participate in voluntary corporate actions like rights issues and SPPs
Where they differ
| Fact | Vanguard Personal Investor | Westpac Online Investing |
|---|---|---|
| ASX brokerage | $0 on Vanguard ETF buys; $9 flat on sells and non-Vanguard ASX trades | $4.95 minimum (0.11%) up to $28,000, then 0.11% above |
| CHESS sponsorship | Custodian model — no individual HIN | Full CHESS sponsorship — your own HIN |
| International shares | Not supported | 18 markets including US, UK, Europe, Canada, Hong Kong, Singapore |
| Auto-invest / DCA | Yes — multiple-level auto-invest available | Not available |
| Corporate actions | Cannot participate in voluntary corporate actions (rights issues, SPPs, takeovers) | Voluntary corporate actions supported free of charge |
Verdict
Choose Vanguard for dirt-cheap Vanguard investing and auto-invest; choose Westpac for full CHESS ownership, global markets, and trading flexibility.
Cost calculator
What would Vanguard Personal Investor 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 | Vanguard Personal Investor | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | 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 | 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 | No | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | 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 |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | — | $50 |
| Corporate action fees | Participation in voluntary corporate actions (rights issues, SPPs, takeovers) is NOT available through Vanguard Personal Investor for ETFs or direct shares - investors cannot participate. Mandatory corporate actions (e.g. dividends) flow through automatically. No corporate action fees disclosed. | 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 | $0 | $4.95 |
| ASX brokerage percentage | 0% | 11% |
| ASX brokerage threshold | — | $28,000 |
| ASX free trade conditions | $0 brokerage on all buys of Vanguard ETFs (Vanguard managed funds incur no brokerage at all). $0 brokerage on Vanguard ETFs/funds purchased via Auto Invest. Sells of Vanguard ETFs incur $9 flat. ASX direct (non-Vanguard) shares: $9 flat both ways. | 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 | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | $0 | $50 |
| identity and trust | ||
| Legal entity name | Vanguard Investments Australia Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 227,263 | 241,400 |
| Year founded | 2,020 | 2,010 |
| Parent / ownership | The Vanguard Group, Inc. (US) - mutual structure owned by US-domiciled Vanguard fund investors | 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 | $200 | $500 |
| Minimum subsequent purchase | $1 | $0 |
| Deposit methods | BPAY, Direct credit (EFT), Direct debit | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 (ASX) | T+2 (ASX), T+1 (US) |
| Withdrawal time | Up to 3 business days from processing date (processed same day if requested before 4pm AET) | 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 | No | Yes |
| Free research reports | No | Yes |
| 2FA support | SMS | SMS + authenticator app |
| Customer support channels | Phone, Secure message (in-app) | phone, email, live chat, in-app |
| Support hours (AU time) | Monday to Friday, 8am to 6pm AET (phone) | 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 | 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 | No | Yes |
| Conditional orders | No | Yes |
| Auto-invest / DCA | Yes | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | No | No |