Bell Direct vs Westpac Online Investing
The biggest practical difference between Bell Direct and Westpac Online Investing comes down to how you pay for trades. Westpac offers a slightly cheaper ASX brokerage floor ($4.95 vs $5.00) but only if you settle through its linked Cash Investment Account — use an external bank and it jumps to $29.95. Bell Direct keeps its flat 0.1% structure regardless of where your cash comes from, making it more predictable for occasional traders.
- ›You want the lowest ASX brokerage percentage (0.1%) on trades above $25,000 — cheaper than Westpac's 0.11% above $28,000
- ›You trade US stocks and want zero US brokerage minimum and fractional US shares, which Westpac doesn't offer
- ›You prefer a straightforward fee structure that doesn't penalise you for settling from an external bank account
- ›You want a CHESS-sponsored HIN with access to IPOs, options, bonds, and managed funds all in one place
- ›You need a desktop trading platform alongside the mobile app — Westpac is mobile-only
- ›You're already a Westpac customer and can use the linked Cash Investment Account to get the $4.95 ASX minimum brokerage
- ›You want free real-time ASX market data — Bell Direct charges $27.50/month for it
- ›You trade on international markets beyond the US and Australia — Westpac covers 18 countries
- ›You value after-hours support and a live chat option, plus authenticator-app 2FA instead of just SMS
- ›You want structured educational courses rather than basic articles to build your investing knowledge
Where they differ
| Fact | Bell Direct | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $5.00 | $4.95 (with Westpac Cash Investment Account) or $29.95 (external bank) |
| US brokerage minimum | $0 USD | $4.95 USD |
| Market data fees | $27.50/month | $0/month |
| International markets | Australia and US only | 18 countries including Canada, UK, Europe, Hong Kong and Singapore |
| Desktop platform | Yes | No (mobile only) |
Choose Bell Direct for cheaper US trades and predictable pricing; choose Westpac if you're a Westpac customer who trades globally.
Common questions
How do Bell Direct and Westpac Online Investing compare on asx brokerage minimum?
Bell Direct: $5.00. Westpac Online Investing: $4.95 (with Westpac Cash Investment Account) or $29.95 (external bank). Westpac's headline rate is conditional on using their linked account.
How do Bell Direct and Westpac Online Investing compare on us brokerage minimum?
Bell Direct: $0 USD. Westpac Online Investing: $4.95 USD. Bell Direct is cheaper for US trades and supports fractional US shares.
How do Bell Direct and Westpac Online Investing compare on market data fees?
Bell Direct: $27.50/month. Westpac Online Investing: $0/month. Westpac gives free real-time ASX data; Bell Direct charges for it.
When is Bell Direct the better choice over Westpac Online Investing?
Pick Bell Direct if you want the lowest ASX brokerage percentage (0.1%) on trades above $25,000 — cheaper than Westpac's 0.11% above $28,000; you trade US stocks and want zero US brokerage minimum and fractional US shares, which Westpac doesn't offer; you prefer a straightforward fee structure that doesn't penalise you for settling from an external bank account; or you want a CHESS-sponsored HIN with access to IPOs, options, bonds, and managed funds all in one place.
When is Westpac Online Investing the better choice over Bell Direct?
Pick Westpac Online Investing if you're already a Westpac customer and can use the linked Cash Investment Account to get the $4.95 ASX minimum brokerage; you want free real-time ASX market data — Bell Direct charges $27.50/month for it; you trade on international markets beyond the US and Australia — Westpac covers 18 countries; or you value after-hours support and a live chat option, plus authenticator-app 2FA instead of just SMS.
Bell Direct or Westpac Online Investing — what's the verdict?
Choose Bell Direct for cheaper US trades and predictable pricing; choose Westpac if you're a Westpac customer who trades globally.
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 | Bell Direct | 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 | Yes | 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 | 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 | Yes | Yes |
| Bonds supported | Yes | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 65% |
| FX spread (other currencies) | — | 65% |
| Holds USD account | Yes | Yes |
| Market data fees | $27.5/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $60 | $50 |
| Corporate action fees | Fail fee $110 or 0.11% daily for unsettled trades; corporate action handling generally pass-through via CHESS sponsorship | 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 | $5 | $4.95 |
| ASX brokerage percentage | 10% | 11% |
| ASX brokerage threshold | $25,000 | $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$0 | US$4.95 |
| US brokerage percentage | — | 11% |
| Monthly platform fee | — | $0/month |
| Annual platform fee | — | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | — | $0 |
| Off-market transfer fee | $55 | $50 |
| identity and trust | ||
| Legal entity name | Third Party Platform Pty Limited (trading as Bell Direct) | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 314,341 | 241,400 |
| Year founded | 2,007 | 2,010 |
| Parent / ownership | Bell Financial Group Limited (ASX: BFG) | 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 |
| Deposit methods | BPAY, Bank transfer (EFT), 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 | 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 | — | No |
| Free real-time market data | No | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS | SMS + authenticator app |
| Customer support channels | phone, email, online forms | phone, email, live chat, in-app |
| Support hours (AU time) | Business hours, AET (typically Mon-Fri 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 | basic articles | 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 | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | — | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | — | No |