Share Trading comparison
Stake vs Westpac Online Investing
Stake and Westpac Online Investing sit at opposite ends of the brokerage spectrum. Stake is a low-cost, mobile-first challenger built for frequent traders and US market access, while Westpac is a full-featured bank-backed broker with CHESS sponsorship, global reach, and a brokerage fee that starts nearly twice as high. The biggest practical difference comes down to cost versus comprehensiveness.
Choose
Stake
if…
- ›You want the cheapest ASX trades in Australia — Stake charges $3 brokerage on trades up to $30,000, compared to Westpac's $4.95 minimum
- ›You trade US stocks regularly and want near-zero FX spread (0.55%) plus a dedicated USD account and fractional shares
- ›You don't want to be locked into a particular bank account — Stake accepts PayID, cards, and Apple/Google Pay
- ›You value a clean mobile experience and don't need phone trading or managed funds
- ›You plan to transfer an existing ASX portfolio and want brokerage waived for 12 months on holdings worth $1,000+
Choose
Westpac Online Investing
if…
- ›You want full CHESS sponsorship with your own HIN — Westpac is pure CHESS, while Stake uses a mixed model
- ›You need access to 18+ global markets beyond just Australia and the US
- ›You trade options or want to invest in managed funds and IPOs
- ›You want a joint account or a kids/minor account — Stake doesn't offer either
- ›You're already a Westpac customer and want same-day settlement between linked accounts
Where they differ
| Fact | Stake | Westpac Online Investing |
|---|---|---|
| ASX brokerage (minimum) | $3 | $4.95 |
| US brokerage (minimum) | $3 USD | $4.95 USD |
| FX spread (AUD/USD) | 0.55% | 0.65% |
| International markets | US only | 18 countries including US, UK, Europe, Asia |
| Off-market transfer fee | $0 | $50 |
Verdict
Stake for low-cost, frequent trading and US exposure; Westpac for full CHESS sponsorship, global markets, and banking integration.
Cost calculator
What would Stake 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 | Stake | Westpac Online Investing |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | mixed | chess |
| Individual HIN | Yes | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | 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 | United States | 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) | Yes | No |
| Options trading | No | Yes |
| CFDs supported | No | No |
| Managed funds | No | Yes |
| Bonds supported | Yes | Yes |
| IPO access | — | Yes |
| costs hidden | ||
| FX spread (AUD/USD) | 0.55% | 65% |
| FX spread (other currencies) | — | 65% |
| Holds USD account | Yes | Yes |
| FX currency switch trick | Yes | — |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Phone trade surcharge | — | $50 |
| Corporate action fees | Corporate actions (dividends, SPPs, rights issues, takeovers) are passed through where mandatory; Stake does not provide a DRP — investors must elect DRP directly with each company's share registry. No published per-event fee. | 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 | $3 | $4.95 |
| ASX brokerage percentage | 0.01% | 11% |
| ASX brokerage threshold | $30,000 | $28,000 |
| ASX free trade conditions | No free-trade promotion ordinarily offered; brokerage waived for 12 months on transferred ASX holdings worth A$1,000+ | 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$3 | US$4.95 |
| US brokerage percentage | 0.01% | 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 | $0 | $50 |
| identity and trust | ||
| Legal entity name | Stakeshop Pty Ltd | Australian Investment Exchange Limited (AUSIEX); Westpac Securities Limited issues the branded service |
| AFSL number | 548,196 | 241,400 |
| Year founded | 2,017 | 2,010 |
| Parent / ownership | Privately held (Stakeshop AFSL Pty Ltd group); investors include AGL Energy's former CEO and various private investors | 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 | $20 | $0 |
| Deposit methods | Bank transfer (Osko/PayID), Apple Pay, Google Pay, Debit card, Credit card | Westpac Cash Investment Account (linked), External bank Direct Credit, BPAY, Internal transfer between Westpac accounts |
| Settlement period | T+2 for ASX; T+1 for US | T+2 (ASX), T+1 (US) |
| Withdrawal time | 1-2 business days for AUD (Stake AUS); 2-3 US business days for USD (Stake Wall St) | 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 | Yes | Yes |
| Free research reports | Yes | Yes |
| 2FA support | authenticator app | SMS + authenticator app |
| Customer support channels | Email, In-app chat, Help centre | phone, email, live chat, in-app |
| Support hours (AU time) | Business hours AEST/AEDT (approximately Mon-Fri); chat/email response varies | 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 | Yes | Yes |
| Distribution component breakdown | No | No |
| CGT calculator / report | Yes | Yes |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | No | Yes |
| Auto-invest / DCA | No | No |
| Auto-invest sophistication | none | none |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | Yes | No |