Sharesies vs Westpac Online Investing
The biggest practical difference is ownership structure: Westpac Online Investing is CHESS-sponsored, meaning you get your own HIN and shares are held in your name, while Sharesies operates as a custodian model — the broker holds the legal title. That distinction drives most of the other differences, from brokerage costs to account types and market access.
- ›You want the lowest possible cost for small trades — Sharesies charges 1.9% capped at $6 for ASX, with no minimum brokerage
- ›You want to buy fractional shares on the ASX or US markets, which Westpac doesn't offer
- ›You're starting small with as little as $1 and want to automate regular investments across multiple assets
- ›You trade US stocks frequently and want a tight FX spread of 0.006% versus Westpac's 0.65%
- ›You want a simple, app-only experience with auto-invest and kids accounts from $2/month
- ›You want your shares held under your own HIN on the CHESS register — direct ownership, not a custodian arrangement
- ›You need a full suite of account types including joint, company, trust, and SMSF accounts
- ›You trade options, want IPO access, or invest in managed funds and bonds
- ›You want free real-time ASX data and professional-grade research reports included
- ›You trade larger parcels — Westpac's tiered brokerage ($4.95–$29.95) becomes cheaper than Sharesies' percentage-based model above ~$315
Where they differ
| Fact | Sharesies | Westpac Online Investing |
|---|---|---|
| CHESS sponsorship model | Custodian (no individual HIN) | CHESS-sponsored (individual HIN) |
| ASX brokerage minimum | $0 (1.9% capped at $6) | $4.95 (with linked Westpac account) |
| FX spread (AUD/USD) | 0.006% | 0.65% |
| Fractional shares | Yes (ASX & US) | No |
| Account types | Individual, kids only | Individual, joint, company, trust, SMSF, kids |
Choose Sharesies for low-cost, small-dollar investing with fractional shares; choose Westpac for CHESS ownership, broader account types, and serious market data.
Common questions
How do Sharesies and Westpac Online Investing compare on chess sponsorship model?
Sharesies: Custodian (no individual HIN). Westpac Online Investing: CHESS-sponsored (individual HIN).
How do Sharesies and Westpac Online Investing compare on asx brokerage minimum?
Sharesies: $0 (1.9% capped at $6). Westpac Online Investing: $4.95 (with linked Westpac account).
How do Sharesies and Westpac Online Investing compare on fx spread (aud/usd)?
Sharesies: 0.006%. Westpac Online Investing: 0.65%.
When is Sharesies the better choice over Westpac Online Investing?
Pick Sharesies if you want the lowest possible cost for small trades — Sharesies charges 1.9% capped at $6 for ASX, with no minimum brokerage; you want to buy fractional shares on the ASX or US markets, which Westpac doesn't offer; you're starting small with as little as $1 and want to automate regular investments across multiple assets; or you trade US stocks frequently and want a tight FX spread of 0.006% versus Westpac's 0.65%.
When is Westpac Online Investing the better choice over Sharesies?
Pick Westpac Online Investing if you want your shares held under your own HIN on the CHESS register — direct ownership, not a custodian arrangement; you need a full suite of account types including joint, company, trust, and SMSF accounts; you trade options, want IPO access, or invest in managed funds and bonds; or you want free real-time ASX data and professional-grade research reports included.
Sharesies or Westpac Online Investing — what's the verdict?
Choose Sharesies for low-cost, small-dollar investing with fractional shares; choose Westpac for CHESS ownership, broader account types, and serious market data.
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 | Sharesies | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | custodian | chess |
| Individual HIN | No | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | No | Yes |
| Trust account | No | Yes |
| SMSF account | No | 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 | NZ | 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) | Yes | No |
| Fractional shares (US) | Yes | No |
| Options trading | No | Yes |
| CFDs supported | No | No |
| Managed funds | No | Yes |
| Bonds supported | No | Yes |
| IPO access | No | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.6% | 65% |
| FX spread (other currencies) | 0.6% | 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 | No fee for receiving DRP shares ('You don't pay a Sharesies transaction fee when you receive shares through a DRP'). Sharesies handles corporate actions via the Voting & Corporate Actions Policy; specific fees for rights issues, SPP, takeovers not separately listed in pricing schedule. | 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 | $0 | $4.95 |
| ASX brokerage percentage | 1.9% | 11% |
| ASX brokerage threshold | $315.79 | $28,000 |
| ASX free trade conditions | Pay-as-you-go: 1.9% per buy/sell order, capped at AU$6 for ASX, US$5 for US, NZ$25 for NZ. Monthly plans cover transaction fees on a set volume: $5/mo plan ($54/yr) covers $500 AUD buy/sell + $1,000 AUD auto-invest; $10/mo plan ($108/yr) covers $1,000 AUD buy/sell + $3,000 AUD auto-invest; $20/mo plan ($216/yr) covers $3,000 AUD buy/sell + $8,000 AUD auto-invest. Kids plan $2/mo covers $500 buy/sell + $1,000 auto-invest. Once monthly cover used up, pay-as-you-go applies. No truly free trade option. | 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$0 | US$4.95 |
| US brokerage percentage | 1.9% | 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 | $50 | $50 |
| identity and trust | ||
| Legal entity name | Sharesies Australia Limited | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 529,893 | 241,400 |
| Year founded | 2,021 | 2,010 |
| Parent / ownership | Sharesies Group Limited (New Zealand) | 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 | $1 | $500 |
| Minimum subsequent purchase | $1 | $0 |
| Deposit methods | PayID, OSKO, direct credit, card | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 ASX/NZX, T+1 US | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days for settled funds; longer if recently sold (T+2 settlement plus 1-2 days reconciliation plus 1-2 days bank 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 | No | Yes |
| Free research reports | No | Yes |
| 2FA support | authenticator_app | SMS + authenticator app |
| Customer support channels | email, in_app | phone, email, live chat, in-app |
| Support hours (AU time) | Monday to Friday, 6 AM to 4 PM AEST | 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 | Yes | No |
| CGT calculator / report | Yes | 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 | Yes | No |
| Auto-invest sophistication | multiple_assets | none |
| DRP (dividend reinvestment) | Yes | Yes |
| After-hours / overnight trading | Yes | No |