Share Trading comparison
Webull vs Westpac Online Investing
The biggest difference here is cost versus ecosystem. Webull is a low-cost, app-first broker with near-zero ASX brokerage and free US trading, while Westpac Online Investing is a full-service bank-owned platform with higher fees but deeper integration for existing Westpac customers. One is built for active traders who want cheap execution; the other suits investors who value convenience and a big-bank safety net.
Choose
Webull
if…
- ›You want near-zero ASX brokerage — $1 minimum or 0.03% on shares, and $0 on ASX ETFs with no conditions
- ›You trade US stocks regularly — Webull charges $0 US brokerage with a tiny 0.005% FX spread, compared to Westpac's $4.95 minimum plus 0.65% FX spread
- ›You want fractional US shares, options trading, and crypto all in one account
- ›You prefer a modern mobile app with a demo account and after-hours US trading
- ›You want to avoid any monthly or inactivity fees — Webull has zero platform fees across the board
Choose
Westpac Online Investing
if…
- ›You're already a Westpac customer and want seamless integration with your existing bank accounts and BPAY
- ›You want free real-time ASX market data and research reports included — Westpac charges nothing for these, while Webull charges $49.99/month
- ›You need access to a wider range of global markets including the UK, Europe, Canada and Singapore
- ›You want managed funds, bonds, IPO access, and a kids/minor account — Westpac offers all of these; Webull doesn't
- ›You value dividend reinvestment plans (DRP) and CHESS sponsorship with a big-bank brand behind you
Where they differ
| Fact | Webull | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $1 | $4.95 |
| US brokerage | $0 (0% commission) | $4.95 minimum (0.11%) |
| FX spread (AUD/USD) | 0.005% | 0.65% |
| Market data fees | $49.99/month | $0 (free real-time data) |
| CHESS sponsorship | CHESS-sponsored (individual HIN) | CHESS-sponsored (individual HIN) |
Verdict
Pick Webull for dirt-cheap trading and US exposure; pick Westpac for bank integration, free data, and a broader product suite.
Cost calculator
What would Webull 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 | Webull | 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 |
| Crypto trading | Yes | — |
| Managed funds | No | Yes |
| Bonds supported | No | Yes |
| IPO access | No | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.5% | 65% |
| FX spread (other currencies) | 0.5% | 65% |
| Holds USD account | Yes | Yes |
| Market data fees | $49.99/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 | $1 | $4.95 |
| ASX brokerage percentage | 0.03% | 11% |
| ASX brokerage threshold | $3,333 | $28,000 |
| ASX free trade conditions | ASX ETFs: $0 brokerage on all trades, no conditions. ASX shares: not free — $1 minimum or 0.03% (whichever greater). | 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 | 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 | — | $50 |
| identity and trust | ||
| Legal entity name | Webull Securities (Australia) Pty Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 536,980 | 241,400 |
| AUSTRAC registration | Yes | — |
| Year founded | 2,022 | 2,010 |
| Parent / ownership | Webull Corporation (NASDAQ: BULL), Cayman Islands holding company; originally backed by Hunan Fumi Information Technology (China) with investors including Xiaomi, General Atlantic, Coatue, Lightspeed | Brand: Westpac Banking Corporation (ASX: WBC); operator AUSIEX is wholly owned by Nomura Research Institute, Ltd. (TSE: 4307) |
| Country of incorporation | Australia | AU |
| Public company status | public | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | PayTo, Bank transfer (EFT), International wire | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days for AUD bank transfer; 1-5 business days for international wire | 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 | No | Yes |
| Free research reports | No | Yes |
| 2FA support | authenticator | SMS + authenticator app |
| Customer support channels | Phone, Email, In-app chat | phone, email, live chat, in-app |
| Support hours (AU time) | Phone: Mon-Fri 08:30-18:00 AEST/AEDT. In-app chat: advertised 24-hour. | 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 | — | 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 | weighted | none |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | Yes | No |