Share Trading comparison
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.
Choose
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
- ›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
Choose
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
- ›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 |
Verdict
Choose Sharesies for low-cost, small-dollar investing with fractional shares; choose Westpac for CHESS ownership, broader account types, and serious market data.
Cost calculator
What would Sharesies 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 | 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 |