Share Trading comparison
SelfWealth vs Westpac Online Investing
The biggest practical difference between SelfWealth and Westpac Online Investing comes down to cost versus capability. SelfWealth is a low-cost, no-frills broker with a flat $9.50 ASX brokerage and no platform fees, but it lacks the research tools and international market breadth that Westpac offers. Westpac undercuts SelfWealth on price for smaller trades ($4.95 minimum) but only if you settle via a linked Westpac Cash Investment Account — otherwise brokerage jumps to $29.95.
Choose
SelfWealth
if…
- ›You want a simple, flat-fee structure with no monthly or inactivity fees and no requirement to open a linked bank account
- ›You trade US stocks and want a dedicated USD account with a 0.6% FX spread — slightly cheaper than Westpac's 0.65%
- ›You want auto-invest / DCA functionality to dollar-cost average into ETFs or shares automatically
- ›You prefer a platform that offers a kids / minor account for investing on behalf of children
- ›You want OSKO instant deposit capability to fund your account and trade the same day
Choose
Westpac Online Investing
if…
- ›You trade ASX shares in smaller parcels — Westpac's $4.95 minimum brokerage (with a linked Westpac account) is nearly half SelfWealth's $9.50
- ›You want access to 18 international markets beyond the US and Hong Kong, including the UK, Europe, Canada and Singapore
- ›You need options trading, managed funds, bonds or IPO access — SelfWealth offers none of these
- ›You value free real-time market data and structured research reports to inform your trading decisions
- ›You want a built-in CGT calculator to simplify tax reporting at EOFY
Where they differ
| Fact | SelfWealth | Westpac Online Investing |
|---|---|---|
| ASX brokerage minimum | $9.50 | $4.95 (with linked Westpac account) |
| CHESS sponsorship | Mixed (CHESS + custodian) | Full CHESS sponsorship |
| International markets | AU, US, HK | AU, US, 16 other markets incl. UK, Europe, Canada, Singapore |
| Auto-invest / DCA | Yes (multiple level) | No |
| Free real-time data & research | No | Yes |
Verdict
Choose SelfWealth for low-cost simplicity and auto-invest; choose Westpac for cheaper small trades, global markets and research tools.
Cost calculator
What would SelfWealth vs Westpac Online Investing actually cost you?
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 | SelfWealth | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | mixed | 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 | HK | 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 | No | Yes |
| CFDs supported | No | No |
| Managed funds | No | Yes |
| Bonds supported | No | Yes |
| IPO access | — | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 60% | 65% |
| FX spread (other currencies) | — | 65% |
| Holds USD account | Yes | Yes |
| 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 | $9.5 | $4.95 |
| ASX brokerage percentage | — | 11% |
| ASX brokerage threshold | — | $28,000 |
| ASX free trade conditions | Selfwealth Premium subscribers ($29/month or $240/year) receive 10 complimentary trades annually; otherwise no 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$9.5 | US$4.95 |
| US brokerage percentage | — | 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 | $27.5 | $50 |
| identity and trust | ||
| Legal entity name | SelfWealth Pty Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 421,789 | 241,400 |
| Year founded | 2,012 | 2,010 |
| Parent / ownership | Syfe (Svava Pte Ltd, Singapore) | 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 | $500 | $500 |
| Minimum subsequent purchase | $0 | $0 |
| Deposit methods | OSKO, BPAY, EFT/bank transfer | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days | 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 | No | Yes |
| Free research reports | No | Yes |
| 2FA support | authenticator app | SMS + authenticator app |
| Customer support channels | live chat, email, phone | phone, email, live chat, in-app |
| Support hours (AU time) | 10am-4pm AET, Monday-Friday (closed public holidays) | 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 | 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 | Yes | No |
| Auto-invest sophistication | multiple | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | Yes | No |