easyMarkets vs Westpac Online Investing
easyMarkets and Westpac Online Investing aren't really competing in the same sport. easyMarkets is a CFD and options broker with no access to ASX shares or ETFs — you're trading derivatives, not owning the underlying asset. Westpac Online Investing is a full-service CHESS-sponsored broker for buying and holding real shares on the ASX and overseas markets. The biggest practical difference: one is a derivatives platform, the other is a genuine share broker.
- ›You want to trade CFDs, options, or forex with leverage rather than buy and hold physical shares
- ›You're happy with a minimum deposit of just $25 and want to fund via crypto, Skrill, or Neteller
- ›You need after-hours/overnight trading access
- ›You want a demo account to practice before putting real money in
- ›You don't need Australian sharemarket access at all
- ›You want to buy and own ASX shares and ETFs under your own HIN with CHESS sponsorship
- ›You need a broker that supports joint accounts, trust accounts, SMSFs, and minor accounts
- ›You want access to 18 international markets plus managed funds and bonds
- ›You need a CGT report and an Australian tax statement at EOFY
- ›You prefer to keep your trading within the Westpac banking ecosystem with fast internal transfers
Where they differ
| Fact | easyMarkets | Westpac Online Investing |
|---|---|---|
| ASX shares & ETFs | Not supported | Supported (CHESS-sponsored) |
| Account types | Individual and company only | Individual, joint, company, trust, SMSF, minor |
| Minimum deposit | $25 | $500 |
| Inactivity fee | $25 | $0 |
| Deposit methods | Card, bank wire, BPAY, Skrill, Neteller, POLi, crypto | Westpac account, external bank, BPAY only |
Choose easyMarkets for leveraged derivatives trading; choose Westpac Online Investing to actually own Australian and global shares.
Common questions
How do easyMarkets and Westpac Online Investing compare on asx shares & etfs?
easyMarkets: Not supported. Westpac Online Investing: Supported (CHESS-sponsored).
How do easyMarkets and Westpac Online Investing compare on account types?
easyMarkets: Individual and company only. Westpac Online Investing: Individual, joint, company, trust, SMSF, minor.
How do easyMarkets and Westpac Online Investing compare on minimum deposit?
easyMarkets: $25. Westpac Online Investing: $500.
When is easyMarkets the better choice over Westpac Online Investing?
Pick easyMarkets if you want to trade CFDs, options, or forex with leverage rather than buy and hold physical shares; you're happy with a minimum deposit of just $25 and want to fund via crypto, Skrill, or Neteller; you need after-hours/overnight trading access; or you want a demo account to practice before putting real money in.
When is Westpac Online Investing the better choice over easyMarkets?
Pick Westpac Online Investing if you want to buy and own ASX shares and ETFs under your own HIN with CHESS sponsorship; you need a broker that supports joint accounts, trust accounts, SMSFs, and minor accounts; you want access to 18 international markets plus managed funds and bonds; or you need a CGT report and an Australian tax statement at EOFY.
easyMarkets or Westpac Online Investing — what's the verdict?
Choose easyMarkets for leveraged derivatives trading; choose Westpac Online Investing to actually own Australian and global shares.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | easyMarkets | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | chess |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | No | Yes |
| SMSF account | No | Yes |
| Kids / minor account | No | Yes |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | No | 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 | Yes | Yes |
| CFDs supported | Yes | No |
| Managed funds | No | 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 | Yes |
| FX currency switch trick | No | — |
| Market data fees | $0/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 | — | $4.95 |
| ASX brokerage percentage | — | 11% |
| ASX brokerage threshold | — | $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$4.95 |
| US brokerage percentage | — | 11% |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $25 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $50 |
| identity and trust | ||
| Legal entity name | easyMarkets Pty Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 246,566 | 241,400 |
| Year founded | 2,003 | 2,010 |
| Parent / ownership | Blue Capital Markets Ltd (private, Cyprus-headquartered easyMarkets group) | 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 | $25 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | Credit/Debit Card (Visa, Mastercard, Amex), Bank Wire Transfer, BPAY, Skrill, Neteller, POLi, Crypto (BTC, ETH, USDT) | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | — | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1 business day to process; 3-10 business days for funds to arrive depending on method | 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 | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS + authenticator | SMS + authenticator app |
| Customer support channels | phone, email, live chat | phone, email, live chat, in-app |
| Support hours (AU time) | 24/5 (Monday to Friday, around the clock during 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 | structured courses | structured courses |
| tax and reporting | ||
| Australian tax statement | No | Yes |
| Distribution component breakdown | No | No |
| CGT calculator / report | No | Yes |
| Sharesight / Navexa integration | No | 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) | No | Yes |
| After-hours / overnight trading | Yes | No |