Alternatives to Westpac Online Investing
Westpac Online Investing is a bank-backed CHESS-sponsored broker offering ASX trades from $4.95, US shares, options trading, and access to 18 global markets with no monthly platform fee. It's a solid choice if you're already with Westpac or want a full-service bank broker. But you might be looking for an alternative if you want lower brokerage, automated investing, fractional US shares, or a more modern trading platform. We've listed six alternatives worth comparing against Westpac Online Investing, each with a different angle on fees, features, or ownership structure.
Cheaper ASX trades from $3 and US trades from $0.99, plus fractional US shares and auto-invest options.
- ASX brokerage minimum
- $3(Westpac Online Investing: $4.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
Lower ASX brokerage at $3 and US fractional shares, with a modern app-first experience.
- ASX brokerage minimum
- $3(Westpac Online Investing: $4.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Westpac Online Investing: chess)
Built for long-term investors with auto-invest, kids accounts, and a community-driven approach.
- ASX brokerage minimum
- $6.5(Westpac Online Investing: $4.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Westpac Online Investing: chess)
ASX trades from $1 and zero-commission US shares, plus options and auto-invest features.
- ASX brokerage minimum
- $1(Westpac Online Investing: $4.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- chess
Flat $9.50 brokerage with auto-invest, DRP, kids and SMSF accounts all included.
- ASX brokerage minimum
- $9.5(Westpac Online Investing: $4.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- mixed(Westpac Online Investing: chess)
Access to 30+ global markets with low US brokerage from $1 and advanced trading tools.
- ASX brokerage minimum
- $6(Westpac Online Investing: $4.95)
- ASX ETFs supported
- Yes
- CHESS sponsorship model
- custodian(Westpac Online Investing: chess)
Common questions
Is Westpac Online Investing CHESS-sponsored?
Yes, Westpac Online Investing is CHESS-sponsored. That means your ASX shares are held in your own HIN (Holder Identification Number), giving you direct ownership on the ASX settlement system. Most bank-owned brokers offer this, but some newer platforms use custodian models instead.
Can I trade US shares with Westpac Online Investing?
Yes, Westpac Online Investing supports US share trading alongside ASX shares and 18 other global markets. You can trade US stocks directly, though brokerage and currency conversion fees apply. Some alternatives offer cheaper US trades or fractional US shares.
Does Westpac Online Investing have a monthly platform fee?
No, Westpac Online Investing does not charge a monthly platform fee. You only pay brokerage per trade. This makes it competitive with other no-fee brokers, though some newer platforms offer lower per-trade costs for frequent traders.
What alternatives are there to Westpac Online Investing for beginners?
Several platforms offer lower minimums and simpler interfaces for new investors. Some provide auto-invest features, fractional shares, or micro-investing options that let you start with small amounts. Others focus on education and community support for beginner investors.