Forex.com
Westpac
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Overview
Forex.com was founded in 2001 and is headquartered in United States, while Westpac was established in 2008 and is based in Austrailia. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. Forex.com serves 150,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is Typical at Forex.com and $50 at Westpac.
| Feature | Forex.com | Westpac |
|---|---|---|
| Min. Deposit | Typical | $50 |
| Regulation | Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA) | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2001 | 2008 |
| Country | United States | Austrailia |
| Clients | 150,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex.com and Westpac, directly affecting your bottom line as a trader. Westpac has a lower barrier to entry with a minimum deposit of $50 (vs Typical at Forex.com). Forex.com charges withdrawal fees while Westpac does not, a notable advantage for frequent withdrawers. Forex.com applies inactivity fees on dormant accounts; Westpac does not. Forex.com charges deposit fees; Westpac does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | Forex.com | Westpac |
|---|---|---|
| Min. Deposit | Typical | $50 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | No |
Platforms
Forex.com 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 | Forex.com | Westpac |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Forex.com 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 | Forex.com | 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. Forex.com accepts 3 of the tracked payment methods (bank transfer, credit/debit card, PayPal), while Westpac supports 2 (bank transfer, credit/debit card). Forex.com uniquely supports PayPal among the two brokers. Forex.com scores higher on deposit and withdrawal flexibility.
| Feature | Forex.com | Westpac |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | 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 Forex.com and Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. Forex.com supports 3 languages and Westpac supports 2, giving Forex.com broader global reach. Both brokers are comparable on support quality.
| Feature | Forex.com | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Chinese, Arabic | English, and Chinese |