CommSec vs Westpac Online Investing
CommSec and Westpac Online Investing are both bank-backed brokers with CHESS sponsorship, no monthly fees, and similar account types. The biggest practical difference is brokerage cost: CommSec charges just 0.12% on ASX trades (capped at $29.95 for smaller trades without a CDIA), while Westpac charges 0.11% but with a lower $4.95 minimum. Where CommSec pulls ahead is US trading — it offers fractional shares, a razor-thin 0.0055% FX spread, and a USD account. Westpac's FX spread is 0.65%, making international trades far more expensive.
- ›You trade US stocks regularly and want a 0.0055% FX spread (vs Westpac's 0.65%) plus fractional shares on US equities
- ›You want the lowest possible ASX brokerage for large trades — CommSec's 0.12% above $25,000 beats Westpac's 0.11% only up to $28,000
- ›You value after-hours trading access, which CommSec offers and Westpac does not
- ›You want a fully integrated Commonwealth Bank experience with instant CDIA transfers and branch deposits
- ›You occasionally trade international markets beyond the US and UK — CommSec covers 13 countries including Japan, Hong Kong, and France
- ›You make smaller ASX trades and want the $4.95 minimum brokerage (vs CommSec's $5.00 with a CDIA or $29.95 without)
- ›You want a built-in CGT calculator — Westpac includes one, CommSec does not
- ›You prefer Westpac's banking ecosystem and want to settle trades via a Westpac Cash Investment Account
- ›You need extended phone support hours including 24-hour coverage on US trading days
- ›You trade on European or Asian markets — Westpac covers 18 countries including Singapore, Switzerland, and Finland
Where they differ
| Fact | CommSec | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $5.00 (with CDIA) / $29.95 (without) | $4.95 (with Westpac CIA) / $29.95 (without) |
| FX spread (AUD/USD) | 0.0055% | 0.65% |
| Fractional shares (US) | Yes | No |
| After-hours / overnight trading | Yes | No |
| CGT calculator / report | No | Yes |
Choose CommSec for low-cost US trading and fractional shares; choose Westpac for cheaper small ASX trades and built-in CGT reporting.
Common questions
How do CommSec and Westpac Online Investing compare on asx brokerage minimum?
CommSec: $5.00 (with CDIA) / $29.95 (without). Westpac Online Investing: $4.95 (with Westpac CIA) / $29.95 (without). Westpac edges out CommSec by 5 cents on the minimum, but both jump to $29.95 without a linked cash account.
How do CommSec and Westpac Online Investing compare on fx spread (aud/usd)?
CommSec: 0.0055%. Westpac Online Investing: 0.65%. CommSec's FX spread is roughly 118 times cheaper — a massive difference for anyone trading US stocks.
How do CommSec and Westpac Online Investing compare on fractional shares (us)?
CommSec: Yes. Westpac Online Investing: No. CommSec lets you buy partial US shares; Westpac requires whole shares only.
When is CommSec the better choice over Westpac Online Investing?
Pick CommSec if you trade US stocks regularly and want a 0.0055% FX spread (vs Westpac's 0.65%) plus fractional shares on US equities; you want the lowest possible ASX brokerage for large trades — CommSec's 0.12% above $25,000 beats Westpac's 0.11% only up to $28,000; you value after-hours trading access, which CommSec offers and Westpac does not; or you want a fully integrated Commonwealth Bank experience with instant CDIA transfers and branch deposits.
When is Westpac Online Investing the better choice over CommSec?
Pick Westpac Online Investing if you make smaller ASX trades and want the $4.95 minimum brokerage (vs CommSec's $5.00 with a CDIA or $29.95 without); you want a built-in CGT calculator — Westpac includes one, CommSec does not; you prefer Westpac's banking ecosystem and want to settle trades via a Westpac Cash Investment Account; or you need extended phone support hours including 24-hour coverage on US trading days.
CommSec or Westpac Online Investing — what's the verdict?
Choose CommSec for low-cost US trading and fractional shares; choose Westpac for cheaper small ASX trades and built-in CGT reporting.
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 | CommSec | 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, France, Germany, Italy, Netherlands, Hong Kong, Japan, Belgium, Norway, Spain, Sweden | 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) | 0.55% | 65% |
| FX spread (other currencies) | 0.55% | 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 | $59.95 | $50 |
| Corporate action fees | Corporate actions (SPP, rights issue, takeovers, demergers, dividend payments) are not separately charged by CommSec. They are processed via the share registry/issuer. CommSec does not send trade confirmations for off-market events, so Sharesight/other tracker sync requires manual updates. Failed-settlement fees apply if payment is late ($10 minimum or 0.66% above $1,500). | 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 | 0.12% | 11% |
| ASX brokerage threshold | $25,000 | $28,000 |
| ASX free trade conditions | Conditional: $5 minimum requires linked CDIA (Commonwealth Direct Investment Account) or CommSec Margin Loan as the settlement account AND CHESS sponsorship with CommSec. Without CDIA linkage, brokerage starts at $29.95 for trades up to $9,999.99 and 0.31% above. Promotional $0 brokerage offers occasionally run for new customers (e.g. 30 free trades up to $50,000 each, May–Nov 2026 offer for new sign-ups). | 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$5 | US$4.95 |
| US brokerage percentage | 0.12% | 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 | $54 | $50 |
| identity and trust | ||
| Legal entity name | Commonwealth Securities Limited | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 238,814 | 241,400 |
| Year founded | 1,995 | 2,010 |
| Parent / ownership | Commonwealth Bank of Australia (ASX: CBA) | 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 | BPAY, Direct debit, Bank transfer (CDIA), Cheque, Cash deposit (CBA branch/ATM) | 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 | Same-day to 1 business day (instant when funds in CDIA via real-time transfer) | 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 | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS + authenticator | SMS + authenticator app |
| Customer support channels | phone, email, live chat (in-app), secure mail (in-platform), social media (X, Instagram) | phone, email, live chat, in-app |
| Support hours (AU time) | Phone 8am-6pm Mon-Fri Sydney time (general & options); extended trading-hours support during ASX session. No 24/7 support. | 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 | No |
| CGT calculator / report | No | 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 | Yes | No |