Share Trading comparison
Bendigo Invest Direct vs Westpac Online Investing
The biggest difference between Bendigo Invest Direct and Westpac Online Investing is the brokerage model. Bendigo charges a flat $19.95 on ASX trades up to $22,000 (then 0.11%), while Westpac charges just $4.95 minimum — but only if you settle via a linked Westpac Cash Investment Account. Use a different bank account with Westpac and that minimum jumps to $29.95. Both are CHESS-sponsored, so you get your own HIN either way.
Choose
Bendigo Invest Direct
if…
- ›You want zero brokerage on US trades — Bendigo charges $0 US brokerage and a razor-thin 0.007% FX spread, while Westpac charges $4.95 minimum plus 0.65% FX spread.
- ›You trade large ASX parcels over $22,000 — Bendigo's 0.11% kicks in above that threshold, making it cheaper than Westpac's 0.11% (which starts at just $4.95 but scales faster on bigger trades).
- ›You want access to 17 international markets — Bendigo covers UK, Japan, Canada, Germany, France, Hong Kong, Singapore, NZ and more, all under the same low FX spread.
- ›You're comfortable with a $35 withdrawal fee and $55 transfer-out fee — Bendigo charges for moving money or shares out, so it suits buy-and-hold investors who don't churn.
Choose
Westpac Online Investing
if…
- ›You're a frequent ASX trader making smaller trades — Westpac's $4.95 minimum (with a linked Westpac Cash Investment Account) is dramatically cheaper than Bendigo's $19.95 minimum.
- ›You already bank with Westpac — settlement is instant between your Westpac accounts, withdrawals are same-day, and there's no withdrawal fee.
- ›You want a kids / minor account — Westpac offers this account type; Bendigo does not.
- ›You value structured education content — Westpac provides structured courses, whereas Bendigo only offers basic articles.
- ›You trade US stocks regularly — Westpac holds a USD account so you can avoid converting currency on every trade, though its FX spread (0.65%) is much wider than Bendigo's.
Where they differ
| Fact | Bendigo Invest Direct | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $19.95 | $4.95 (with linked Westpac account) |
| US brokerage minimum | $0 USD | $4.95 USD |
| FX spread (AUD/USD) | 0.007% | 0.65% |
| Withdrawal fee | $35 | $0 |
| Desktop platform | Yes | No (mobile and web only) |
Verdict
Choose Bendigo for zero-cost US trading and global market access; choose Westpac for cheap ASX trades if you're already a Westpac customer.
Cost calculator
What would Bendigo Invest Direct vs Westpac Online Investing actually cost you?
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All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Bendigo Invest 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 |
| 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 | UK, JP, CA, DE, FR, HK, SG, NZ, NL, BE, PT, ES, IT, NO, SE | 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 | Yes | Yes |
| CFDs supported | No | No |
| Managed funds | Yes | Yes |
| Bonds supported | Yes | Yes |
| IPO access | Yes | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.7% | 65% |
| FX spread (other currencies) | 0.7% | 65% |
| Holds USD account | No | Yes |
| Market data fees | $41.25/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | $50 | $50 |
| Corporate action fees | BPAY for corporate actions $10; IPO/Placement booking fee $55 per stock | 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 | $19.95 | $4.95 |
| ASX brokerage percentage | 0.11% | 11% |
| ASX brokerage threshold | $22,000 | $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 | 0% | 11% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | — | $0 |
| Withdrawal fee (AUD) | $35 | $0 |
| Off-market transfer fee | $55 | $50 |
| identity and trust | ||
| Legal entity name | CMC Markets Stockbroking Limited | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 246,381 | 241,400 |
| Year founded | — | 2,010 |
| Parent / ownership | Bendigo and Adelaide Bank Limited (ABN 11 068 049 178); service operated by CMC Markets Stockbroking Limited, a member of the CMC Markets Group (CMC Markets plc, LSE-listed) | 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 (Bendigo and Adelaide Bank ASX:BEN; CMC Markets plc LSE:CMCX) | public |
| money movement | ||
| Minimum initial deposit | $500 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, direct credit | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 ASX (CHESS settlement) | T+2 (ASX), T+1 (US) |
| Withdrawal time | — | 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 | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | — | SMS + authenticator app |
| Customer support channels | phone, email, live_chat, in_app | phone, email, live chat, in-app |
| Support hours (AU time) | Mon-Fri 7:30am-7:00pm (chat/email) and 7:30am-5:30pm (phone) AEST/AEDT | 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 | — | 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 | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | No | No |