Commonwealth Securities
Westpac
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Overview
Commonwealth Securities was founded in 1999 and is headquartered in Australia, while Westpac was established in 2008 and is based in Austrailia. Commonwealth Securities holds licences including Cyprus Securities and Exchange Commission (CySEC), while Westpac is regulated by Financial Conduct Authority (FCA) among others. Commonwealth Securities serves 10,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $5000 at Commonwealth Securities and $50 at Westpac.
| Feature | Commonwealth Securities | Westpac |
|---|---|---|
| Min. Deposit | $5000 | $50 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 1999 | 2008 |
| Country | Australia | Austrailia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Commonwealth Securities and Westpac, directly affecting your bottom line as a trader. Westpac has a lower barrier to entry with a minimum deposit of $50 (vs $5000 at Commonwealth Securities). Neither broker charges withdrawal fees. Commonwealth Securities charges deposit fees; Westpac does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | Commonwealth Securities | Westpac |
|---|---|---|
| Min. Deposit | $5000 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
Commonwealth Securities offers MT4, MT5, cTrader, while Westpac supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Commonwealth Securities | Westpac |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Metatrader 4 - desktop, iOS and Android versions available. | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Commonwealth Securities and Westpac compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Westpac scores higher overall in education and research.
| Feature | Commonwealth Securities | Westpac |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Commonwealth Securities accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Westpac supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Commonwealth Securities | Westpac |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Commonwealth Securities and Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Commonwealth Securities | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |