Share Trading comparison
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.
Choose
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
- ›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
Choose
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
- ›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 |
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 |