BrokAIr Reviews

Westpac Online Investing Review

"Westpac Online Investing is one of the most expensive online brokerages around - but is it really worth the price?"

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Westpac Online Investing Overview

Westpac Online Investing is an online trading platform for investors and traders, founded in 2003 by the Westpac Banking Corporation, a leading Australian financial services provider. It provides access to the ASX (Australian Securities Exchange) and Chi-X, giving users access to a wide range of Australian and international shares, managed funds, ETFs (Exchange Traded Funds), warrants, options and other derivatives. Westpac Online Investing also offers free market information and educational resources. Additionally, it offers a range of tools for desktop and mobile trading.

Pros and Cons

Westpac Online Investing has a number of advantages. The platform is backed by well-established banking institution Westpac, making it reliable. It also offers access to a range of different markets and instruments, as well as market information and educational resources. Additionally, there are a wide range of tools available to make trading easier. On the downside, there is no access to international exchanges or CFDs (contracts for difference). The platform also has limited research capabilities.

Public Opinion

The public opinion of Westpac Online Investing is generally positive. Most users find the platform user-friendly and reliable, with the majority of complaints relating to its limited research capabilities. Additionally, many users appreciate its educational resources and tools that make trading easier.

Newsworthy Events

Westpac Online Investing was recently under scrutiny from the Australian Securities & Investments Commission (ASIC) over potential breaches of market integrity rules. In response, Westpac took steps to improve its risk management processes. Additionally, Westpac recently launched an online share trading service in New Zealand in collaboration with NZX Limited. This allows NZ customers to trade on both the NZX and the ASX through a single platform.