ForexTB
Westpac
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Overview
ForexTB was founded in 2015 and is headquartered in Cyprus, while Westpac was established in 2008 and is based in Austrailia. ForexTB holds licences including Cyprus Securities and Exchange Commission (CySEC), while Westpac is regulated by Financial Conduct Authority (FCA) among others. ForexTB serves 5,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $250 at ForexTB and $50 at Westpac.
| Feature | ForexTB | Westpac |
|---|---|---|
| Min. Deposit | $250 | $50 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC), CIF license number 272/15 | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2015 | 2008 |
| Country | Cyprus | Austrailia |
| Clients | 5,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between ForexTB and Westpac, directly affecting your bottom line as a trader. ForexTB has a lower barrier to entry with a minimum deposit of $250 (vs $50 at Westpac). Neither broker charges withdrawal fees. Westpac charges deposit fees; ForexTB does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | ForexTB | Westpac |
|---|---|---|
| Min. Deposit | $250 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
ForexTB offers MT4, MT5, cTrader, while Westpac supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Westpac supports social and copy trading features, which ForexTB does not offer. The two brokers are closely matched on platform offering.
| Feature | ForexTB | 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, Web Trader, Tablet & 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 ForexTB 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 | ForexTB | 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. ForexTB 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 | ForexTB | 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 ForexTB 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 | ForexTB | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |