Plus500 vs Westpac Online Investing
Plus500 and Westpac Online Investing sit on opposite sides of the fence. Plus500 is a CFD broker — you never actually own the underlying shares, and it doesn't support real ASX or US equities at all. Westpac Online Investing is a full-service, CHESS-sponsored broker that lets you buy and hold real shares on the ASX and 18 global markets. The biggest practical difference: one is for speculating on price movements via derivatives, the other is for building a real portfolio.
- ›You want to trade CFDs on indices, commodities, forex or crypto — Plus500 offers derivatives, not real shares
- ›You want zero brokerage and are comfortable paying via the bid/ask spread instead
- ›You need a demo account to practice strategies before risking real money
- ›You want 24/7 customer support via live chat, WhatsApp or email
- ›You're happy with a minimum deposit of just $100 to get started
- ›You want to buy and hold real ASX shares or ETFs under your own HIN via CHESS sponsorship
- ›You need access to a wide range of global markets — US, UK, Europe, Canada, Hong Kong and Singapore
- ›You want a linked Westpac Cash Investment Account for low-cost brokerage ($4.95 minimum) and same-day settlement
- ›You need a full suite of account types including joint, trust, SMSF and minor accounts
- ›You want integrated tax statements, a CGT report and Sharesight integration for end-of-year reporting
Where they differ
| Fact | Plus500 | Westpac Online Investing |
|---|---|---|
| What you actually trade | CFDs only — no real shares | Real shares and ETFs on ASX + 18 global markets |
| CHESS sponsorship | Custodian model — no individual HIN | CHESS-sponsored — you get your own HIN |
| ASX brokerage | Not applicable (no real ASX shares) | $4.95 min / 0.11% (with linked Westpac account) |
| Minimum deposit | $100 | $500 |
| Account types | Individual and company only | Individual, joint, company, trust, SMSF and minor |
Choose Plus500 for CFD speculation on a low deposit; choose Westpac Online Investing to own real shares under your own HIN.
Common questions
How do Plus500 and Westpac Online Investing compare on what you actually trade?
Plus500: CFDs only — no real shares. Westpac Online Investing: Real shares and ETFs on ASX + 18 global markets. Plus500 is a derivatives platform; Westpac is a traditional broker.
How do Plus500 and Westpac Online Investing compare on chess sponsorship?
Plus500: Custodian model — no individual HIN. Westpac Online Investing: CHESS-sponsored — you get your own HIN. Your ownership is registered in your name with Westpac, not pooled with other clients.
How do Plus500 and Westpac Online Investing compare on asx brokerage?
Plus500: Not applicable (no real ASX shares). Westpac Online Investing: $4.95 min / 0.11% (with linked Westpac account). Westpac's standard brokerage is competitive for a bank-owned broker.
When is Plus500 the better choice over Westpac Online Investing?
Pick Plus500 if you want to trade CFDs on indices, commodities, forex or crypto — Plus500 offers derivatives, not real shares; you want zero brokerage and are comfortable paying via the bid/ask spread instead; you need a demo account to practice strategies before risking real money; or you want 24/7 customer support via live chat, WhatsApp or email.
When is Westpac Online Investing the better choice over Plus500?
Pick Westpac Online Investing if you want to buy and hold real ASX shares or ETFs under your own HIN via CHESS sponsorship; you need access to a wide range of global markets — US, UK, Europe, Canada, Hong Kong and Singapore; you want a linked Westpac Cash Investment Account for low-cost brokerage ($4.95 minimum) and same-day settlement; or you need a full suite of account types including joint, trust, SMSF and minor accounts.
Plus500 or Westpac Online Investing — what's the verdict?
Choose Plus500 for CFD speculation on a low deposit; choose Westpac Online Investing to own real shares under your own HIN.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Plus500 | 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) | 70% | 65% |
| FX spread (other currencies) | — | 65% |
| Holds USD account | No | Yes |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | — | $50 |
| Corporate action fees | Not applicable — Plus500 only offers CFDs, so users do not participate in real corporate actions (rights issues, SPPs, takeovers). Dividend adjustments on share CFDs are credited/debited to positions automatically. | 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 | $10 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $50 |
| identity and trust | ||
| Legal entity name | Plus500AU Pty Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 417,727 | 241,400 |
| Year founded | 2,008 | 2,010 |
| Parent / ownership | Plus500 Ltd (UK/Israel, LSE-listed parent) | 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 | $100 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, Bank transfer, Credit/debit card, PayPal, Apple Pay, Google Pay | 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 | Typically 1-3 business days; same payment method as deposit (card, bank, e-wallet). | 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 | Yes | No |
| Free real-time market data | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | SMS only | SMS + authenticator app |
| Customer support channels | Live chat, Email, WhatsApp, Contact form | phone, email, live chat, in-app |
| Support hours (AU time) | 24/7 live chat, email and WhatsApp 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 | 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 |