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Westpac Guide – Read our In-Depth Westpac Review

This Westpac review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.

Please note that due to regulations, the content in this Westpac review does not apply to US users.

This Westpac review contains the latest information about Westpac.

If you're a new entrant in the realm of trading and broker, so many facts will be perplexing for you. Getting into the world of trading demands expert assessing skills and thorough understanding. You'll get adept at all of the concepts of broker since you keep trading. For starters, you need to choose the right agent who will be transparent with you always.

In this fast-paced universe of stock markets and trading, you will need advice to make correct decisions. A professionally lead investment plan will create hefty returns. Westpac is one such stage which will take you along with your investment into great heights. It's crucial that you know all about Westpac until you trust them with your money.

Westpac review

Our entire Westpac Review covers everything you need to know about trading with Westpac. A good agent can multiply your initial investments and give you positive profits. If you would like to make profits, you must trade with a brokerage service that contrasts with your investing goals.

There is no sure-fire method to ensure profits; thus, you must carefully analyze your broker before you choose them. It is a frequent misconception that all brokers are the same, but that is not correct. Wrong judgment, in the beginning, can put your investments in danger.

Westpac is a broker which has forged its way successfully to the broker world. Within this review, we've tried to collate a number of the vital aspects of Westpac. This review will allow you to know whether Westpac is a fantastic fit for your own investments or not. We've tried to breakdown all the qualities and fees for your convenience.

Westpac Review, Table Of Contents

Who are Westpac?

Westpac is a foreign exchange broker headquartered in Austrailia and provides a variety of tools for online trading. Since its establishment in 2008, Westpac has emerged as a leading player in the field of online broker. Westpac includes a highly aggressive and full-featured trading site that is focused on forex, indices, metals, shares, commodities.

Over the past 13 years, Westpac has grown into one of the leading online brokers.

After establishing in 2008, their client base has become as large as 10,000+ clients.

Westpac is the favorite for many traders.. Our Westpac review found that they're an superb alternative for automated trading solutions. They're best suited for investors who are searching for a variety of assets. Social and automated trading options are the heart at Westpac.

Technology plays a significant role at Westpac. Westpac offers trading on Desktop,Mac,iPhone,Android,WEB. Westpac is honest, transparent, and a well-regulated broker by the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA). Their outstanding array of tools will be beneficial for most traders. Third-party partnerships also provide in-house analysis.

The trader resource department at Westpac is very insightful for new traders as it allows them to get a closer look in the financial markets. Westpac caters to all types of traders and are a must-have broker for almost any well-diversified approach to online trading.

Benefits of doing online trading with Westpac?

Trading with Westpac includes many benefits. These advantages are what sets Westpac ahead of the rest of the online brokers. You need to check all the benefits listed so you have a better comprehension of Westpac.

The broker goes to great lengths to comprehend what traders need. Consequently, the service price is low, quick, and convenient. The agent also gives a number of platforms for all kinds of traders. Westpac ensures that the individual needs of all online traders are duly met.

Westpac also features excellent trading conditions which are readily available to just an elite class of institutional clients. The tight spreads and fast executions are a fantastic advantage for the traders. The technology embraced by Westpac is of the maximum caliber, making sure that it's fast, reliable, and effective.

Westpac admits the significance of owning a fast order execution. A quick implementation enables users to exchange without fretting about slippage safely. It is going to also aid the traders to grab the utmost profitable opportunities.

Automated trading is another important facet of Westpac. A new trader can learn from business experts using the automatic trading option. The tight spread begins from as low as 0.0 pips, though they are available for just razor balances.

Westpac has over 255 trading instruments to support all types of traders. These tools are dynamic and convenient for both the new and seasoned traders. The traders can put aside all their worries when trading with Westpac.

Westpac overview

Year Founded: 2008

Regulated By: Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA)

Hedquarters: Austrailia

Minimum Deposit: $50

Number Of Clients: 10,000+

Your capital is at risk

If you feel that Westpac is not right for you then at the bottom of this Westpac review you wil find a lot of alternatives to Westpac.

Everything you should know about trading using Westpac

Westpac is a lively platform that provides various procedures of trading. These tools cover the financial markets considerably. The Majority of the brokerage platforms provide fewer approaches than Westpac

If you would like to exchange with Westpac, you will require a minimum deposit of $50. This deposit is required if you would like to begin trading with Westpac. This 2021 Westpac review will guide you easily about trading with them.

Westpac is as versatile as any other brokerage platform. Westpac is great for traders that want a manageable range of low-cost services. The programs provided by Westpac are third-party, white-label offerings. All traders can choose out of Desktop,Mac,iPhone,Android,WEB.

Along with everything, Westpac has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time on which a trade must be kept available. The agents offer premium customer service which rewards clients with advantages.

Many less reputable brokers attempt to pressurise users into bigger financing for premium services. Westpac, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the greater advantages will become available.

Westpac accounts are available around the world and provides excellent service everywhere they have customers. There are some select few countries where Westpac accounts are not available. Traders in the following countries cannot open or use a Westpac account:

Is Westpac Safe To Trade With?

Established in 2008, Westpac has been open for 13 years, they have a head office in Austrailia.

Westpac is regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA). These bodies have rules that make sure that trading platforms have ploicies in place to keep investor's resources procured. This usually means that Westpac users don't need to worry about their money since it's segregated and safely kept in banks that are established. SSL encryption secures every user's personal information as well.

You are able to make use of an option for 2 Factor Authentications (2FA) with Westpac for heightened safety. An SMS with the confirmation code will be sent to your phone. You'll be required to enter this code to log into your account.

Another concern with financial brokers is in respect to safety may be manipulation of trading. This is highly disadvantageous to consumers on these platforms. However, this is much more widespread in the example of Market Maker brokers who compete with customers on the platform.

Pro's & Con's Of Trading With Westpac

Every online trading platform will have some pros and cons Westpac review would be complete without having a balanced approach. This Westpac review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.

Westpac Pro's

  • Westpac is trusted by 10,000+ clients
  • Westpac doesn't charge inactivity fees
  • Westpac doesn't charge deposit fees
  • Westpac doesn't charge CFD fees
  • Westpac offer trading on Desktop,Mac,iPhone,Android,WEB
  • Westpac offer 255 trading instruments
  • Westpac can communicate in

Westpac Con's

  • Westpac does not offer Negative Balance Protection
  • Westpac does not offer Guaranteed Stop Loss
  • Westpac charge withdrawal fees
  • Westpac doesn't trade major forex pairs
  • Westpac doesn't trade minor forex pairs
  • Westpac doesn't trade exotic forex pairs
  • Westpac doesn't offer trading on cryptocurrencies

Westpac Review - Compare Brokers Similar To Westpac

Westpac Trading212 ETFinance Windsor Brokers
Rating 4/5 1/5 4/5 4/5
Minimum Deposit $50 $1 $215 $100
Year Founded 2008 2006 2018 2005
Headquarters Austrailia UK Cyprus Cyprus
Regulated By Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC)
Clients 10,000+ 14,000,000+ 10,000+ 10,000+
Find Out More
Risk Warning Your capital is at risk CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading leverage products may not be suitable for all traders. 71% of retail CFD accounts lose money. Losses can exceed deposits

Westpac Review - Regulation And Licencing In More Detail

Westpac is regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA).

Westpac, as a business, has a powerful set of rules for ensuring honest trading on its own platform. For information encryption functions, it supplies an industry-standard secure socket layer (SSL).

As per the company's privacy regulations, client information is never to be shared with some other institutions or individuals. Including credit history and other financial details.

Westpac Review - Awards

    At the time of writing this Westpac review, they had not received any awards.

Westpac Review - Minimum Deposit Required

The minimum deposit that you need to get started on Westpac is $50. This is a decent amount for people just beginning. You can make more advanced deposits as you cooperate. But, make certain you know how to make the most of your cash before investing in larger amounts.

Westpac Review - Commission And Fees Explained

Westpac is an online broker platform, and many online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled much better. In other words, an internet broker isn't necessarily affected by the number of clients they have.

However, this doesn't mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are primarily 3 different types of penalties for this objective.

The first kind of fees to keep an eye out for are trading fees. When you make an actual trade, like purchasing a stock or an ETF, you're billed trading fees. In such cases, you're paying a spread, funding speed, or even a commission. The sorts of trading charges and the rates differ from broker to broker.

Commissions can be fixed or dependent on the traded quantity. On the other hand, a spread refers to the gap between the buying and selling cost. Financing or overnight rates are those who are billed when you hold a leveraged position for more than daily.

Apart from trading fees, online agents also charge non-trading fees. These are determined by the activities you undertake on your accounts. They're charged for surgeries like depositing cash, not investing for long periods, or withdrawals.

In general, Westpac doesn't charge high fees in comparison to other online agents. For operations other agents fee for, they either do not charge a broker fee, or they charge a lesser sum. This is beneficial for people who often exchange, such as daily or weekly trading.

However, non-trading fees billed by Westpac are relatively competitive. Consequently, you are charged more for non-trading activities on your trading accounts, like deposits and withdrawal. These are not related to the sale and purchase of assets.

This Westpac review breaks down each of the relevant non-trading charges for you in detail.

Compare broker fees against Westpac

Westpac Trading212 ETFinance Windsor Brokers
Minimum Deposit $50 $1 $215 $100
Withdrawal Fees variable No $100/10000JPY variable
Inactivity Fees No No
Deposit Fees No variable
CFD Fees No No

Westpac Review - Withdrawal Fees Explained

Westpac charges a withdrawal fee if you make a bank transfer. Each time you transfer money back into your bank accounts, these withdrawal fees become applicable.

Withdrawal of cash is possible at any time from your Westpac account. You can draw sums up to the sum of your account balance, keeping aside the margin used. 1 thing to remember is that you don't always need to have any cash on your account.

In addition, the withdrawn money will be moved directly to the account you use to create deposits. Therefore, if you used a credit card for deposits, then the withdrawn money is going to be sent into the card. Westpac will ask you to provide other withdrawal methods if your details have changed since your deposit.

There is a minimum withdrawal amount. In case you are withdrawing cash in various currencies from USD, a conversion fee is also applicable. The conversion fee will be dependent on the currency you are choosing to draw in.

Westpac Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is only one of the buzzing questions that run through your head while open an account with Westpac. An inactivity fee is an amount charged to registered dealers who have not engaged in buying or selling for some time. The period considered inactive is determined by the broker.

The inactivity fee also differs from 1 agent to another and isn't standardized. If a dealers account doesn't have a buying or selling transaction, it's claimed by the broker as an inactivity fee. The traders need to pay this commission under terms and conditions that they had agreed while enrolling.

Westpac doesn't charge inactivity fees so you are free to utilize your account as needed

Even if no charges have been implied by Westpac, it is better that you close the account if you are inactive. Inactivity fees aren't just charged by brokerage companies but also many financial services.

For additional trading platforms, the inactivity fee depends on the sort of account you have chosen. The inactivity fee is exposed to a lot of conditions and should be disclosed clearly by the agent beforehand.

Westpac Review - Deposit Fees Explained

When you move money into your trading account from the bank account, a deposit fee can be billed by the broker. Most brokers do not charge too much money for this operation.

Westpac doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing cash on the Westpac trading platform is easy. You simply need to complete a single-user profile questionnaire to start depositing money into your trading account. You will have to provide an identity evidence and proof of residency to deposit substantial amounts.

Westpac Review - Compare Broker Deposit Methods

Westpac Trading212 ETFinance Windsor Brokers
Minimum Deposit $50 $1 $215 $100
Credit Card Yes
PayPal Yes
Neteller No
Skrill Yes
Payoneer No

What Can You trade With Westpac?

Note: Westpac offers a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered may differ depending on the country of residence of the client.

Westpac has a wide variety of over 255 instruments available for you to trade with.

If trading forex pairs is of interest to you then Westpac offer over currency pairs.

Compare Westpac, Trading212, ETFinance & Windsor Brokers below.

Westpac Trading212 ETFinance Windsor Brokers
Platforms Desktop, Mac, iPhone, Android, WEB Web Trader, Tablet & Mobile apps MT4, iOS, MacBook, iPhone MT4, Mirror Trader, Tablet & Mobile apps
Instruments Available 255 3000 150 100
Forex & Crypto
Forex Pairs Available 177 50 15
Offers Major Forex Pairs? No Yes Yes Yes
Offers Minor Forex Pairs? No Yes Yes
Offers Exotic Forex Pairs? NO Yes Yes
Offers Cryptocurrencies? NO Yes Yes No
Commodity CFD's
Commodities Offered 0 14 10 0
Trade Metals? NO Yes Yes Yes
Trade Energies? NO Yes Yes Yes
Trade Agricultural? NO Yes Yes Yes
Indiced & Stock CFDs
Stocks Offered 14 10 0
Trade UK Shares? NO Yes Yes No
Trade US Shares? NO Yes Yes No
Trade German Shares? No Yes Yes Yes
Trade Japanese Shares? NO Yes Yes Yes


Your capital is at risk


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


Trading leverage products may not be suitable for all traders. 71% of retail CFD accounts lose money.


Losses can exceed deposits

Alternatives To Westpac

If, after studying this Westpac review, Westpac does not quite fulfill your requirements check out these Westpac alternatives.

We have scoured the internet to find the best alternatives to Westpac. Click the links below to find out more.

Frequently Asked Questions about Westpac

Can I try Westpac before I buy?

Yes, you can most certainly try Westpac before you buy. Westpac offers demo accounts for the ease of beginner traders. You can use this feature to build your faith in the machine and yourself and your trading strategies.

If you sign up to get a demo account on Westpac, you may set out with a decent amount of virtual money. It is to establish a sense of security and confidence in you before you decide to spend your own money.

With this virtual Westpacdemo account, you are able to experiment at all, to whatever length you wish. You might even open positions, examine different trading strategies, and more.

Westpac specifies on its official website that you can exchange real time stocks with your demo account.

Is Westpac safe?

You can drop all your worries since we believe that Westpac is perfectly safe to use. It's in compliance with all the principles of Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA).

Even so, Westpac doesn't provide assured stop-loss protection.

Why does Westpac ask for my passport?

The reason that Westpac asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Westpac has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Westpac must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.

How can I start trading with Westpac?

The process to start trading withWestpac is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Westpac website. It will require you to fill in details pertaining to the credibility and security of your account.

Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Westpac is $50. You should have a good hold over the nuances of online trading before you set out and trade with real money.

If you are confident of your knowledge and understanding, you can open an account with Westpac.

The best way to kickstart your trading career with Westpac is to open a demo account facility before risking any real money

What funding methods do Westpac accept?

There are multiple methods to fund your accounts with Westpac. The process is effortless and quick, with various payment methods at your fingertips.

You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You have to bear in mind that PayPal isn't available in all country. The currencies Westpac

Is my money safe with Westpac?

Yes, your money is safe and protected with Westpac. As you already know, Westpac operates with proper conformation to. It has established plenty of measures to guard all its own investors.

Westpac protects its customers' personal and sensitive data under SSL encryption. Your capital will be retained highly secure in top-tier banks.

If you want to further safeguard your account, you can empower Two-Step Verification also. It requires an SMS confirmation that you access your accounts.

Is Westpac trading good?

Yes, trading through Westpac is a nice and decent experience indeed. It is a great and intuitive platform with useful features for your simplicity. Moreover, you can also obtain access to a vast selection of educational resources and assistive material to kickstart your trading expertise.

If you remain skeptical, you can open a eToro demo account and evaluate the credibility of the platform on your own.

Which Countries does Westpac support?

Westpac operates across the world. However, due to regulations there are some countries that Westpac cannot accept clients from

Is Westpac legit?

Westpac is a legit company headquarted in Austrailia since 2008. They are regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA). Westpac is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.

Is Westpac a good broker?

Westpac is an excellent agent, and its own users can vouch for this. The highlight of the platform is its fast order execution on transactions.

You will find the clean design of the platform along with the admirable features that a pleasure to work with.

Is Westpac a trustworthy broker?

Yes, Westpac is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.

What is the minimum deposit for Westpac?

The minimum deposit to open a live account with Westpac is $50

How long do Westpac withdrawals take?

Normally, withdrawal of money from Westpac is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Westpac to show in your bank account.

Are Westpac regulated?

Westpac are regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA)

Is Westpac a market leading broker?

Westpac is indisputably one of the business leaders. It has over 10,000+ registered users and over 13 years of experience on its own record. They're one of the world's leading trading platforms and also a prominent figure in the Fintech revolution.

It simplifies this status to its incredible platform and broad selection of tools plus resources so that you may put money into capital markets.

Is Westpac a con?

No, Westpac is not a con. They are regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and must adhere to their rules. Thus, it is safe to say that Westpac is not a scam.

Can you make money with Westpac?

Through Westpac, many traders earn a lot of cash. But typically, through consistent trading, you also can create between 2% - 10% profit a month.

This can look to be a little number, but within the entire year, this adds to a substantial number of gains. While Westpac provide you all the tools to make money, they can't guarantee that you will gain.

Does Westpac have fees?

Yes. To begin trading using Westpac, you need to deposit $50. Certain commissions while trading also apply. Any processing fees from your bank will have to be incurred by you.

When was Westpac founded?

Westpac was founded in 2008 in Austrailia. Westpac is regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA).

How many people use Westpac?

Westpac is a worldwide recognised broker with 10,000+ customers.

Where is the Westpac head office?

Westpac has its head office in Austrailia

Does Westpac offer negative balance protection?

No. Westpac doesn't provide negative balance protection. If your balance is negative, Westpac indicates you contact client services. With this, you are able to fix any imbalances within your account.

Does Westpac offer guaranteed stop loss?

Westpac unfortunately, does not offer guaranteed stop loss. Westpac provides an opportunity for its dealers to close their trade in their given price. Apart from that, Westpac doesn't offer guaranteed stop loss.

Does Westpac allow scalping?

Yes, Westpac do allow scalping. Many traders across the world choose Westpac due to their services that are trading. They offer trading on Desktop,Mac,iPhone,Android,WEB which let this.

Does Westpac allow hedging?

Yes, Westpac does allow hedging.

Can you trade energies with Westpac?

No, unfortunately you cannot trade energy stock with Westpac

Can you trade agricultural shares with Westpac?

No, unfortunately you cannot trade agricultural stock with Westpac

Can you trade cryptocurrency with Westpac?

No, unfortunately you cannot trade cryptocurrency with Westpac

Can you trade metals with Westpac?

No, unfortunately you cannot trade metals with Westpac

Can you trade UK Shares with Westpac?

No, unfortunately you cannot trade UK shares with Westpac

Can you trade US Shares with Westpac?

No, unfortunately you cannot trade US shares with Westpac

Can you trade Japanese Shares with Westpac?

No, unfortunately you cannot trade Japanese shares with Westpac

Can you trade German Shares with Westpac?

No, unfortunately you cannot trade German shares with Westpac

Does Westpac accept bank transfers?

No, Westpac does not accept bank transfers.

Does Westpac accept credit cards?

No, Westpac does not accept credit cards.

Does Westpac accept PayPal?

No, Westpac does not accept PayPal.

Does Westpac accept Skrill?

No, Westpac does not accept Skrill.

Does Westpac accept Payoneer?

No, Westpac does not accept Payoneer.

Does Westpac accept Neteller?

No, Westpac does not accept Neteller.

Does Westpac offer Live Chat customer support?

No, Westpac does not offer customer support through live chat.

Does Westpac offer phone customer support?

No, Westpac does not offer customer support over the telephone.

Does Westpac offer email customer support?

No, Westpac does not offer customer support through email.

What languages can Westpac communicate in?

Westpac has the ability to communicate and support customers who speak:

Does Westpac have a wikipedia page?

No, Westpac does not have an official wikipedia page.

Does Westpac offer demo accounts?

Yes, Westpac offers demo accounts so you can learn their systems before risking any real money.