Plus500
Westpac
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Plus500 was founded in 2008 and is headquartered in Israel, while Westpac was established in 2008 and is based in Austrailia. Plus500 holds licences including Plus500UK Ltd authorized & regulated by the FCA (#509909), while Westpac is regulated by Financial Conduct Authority (FCA) among others. Plus500 serves 1,000,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $100 at Plus500 and $50 at Westpac.
| Feature | Plus500 | Westpac |
|---|---|---|
| Min. Deposit | $100 | $50 |
| Regulation | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2008 | 2008 |
| Country | Israel | Austrailia |
| Clients | 1,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Plus500 and Westpac, directly affecting your bottom line as a trader. Plus500 has a lower barrier to entry with a minimum deposit of $100 (vs $50 at Westpac). Neither broker charges withdrawal fees. Plus500 applies inactivity fees on dormant accounts; Westpac does not. Westpac charges deposit fees; Plus500 does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | Plus500 | Westpac |
|---|---|---|
| Min. Deposit | $100 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Plus500 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 | Plus500 | Westpac |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | 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 Plus500 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. The two brokers are evenly matched on educational content.
| Feature | Plus500 | Westpac |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Plus500 accepts 4 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill), while Westpac supports 2 (bank transfer, credit/debit card). Plus500 uniquely supports PayPal and Skrill among the two brokers. Plus500 scores higher on deposit and withdrawal flexibility.
| Feature | Plus500 | Westpac |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | 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 Plus500 and Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. Plus500 supports 15 languages and Westpac supports 2, giving Plus500 broader global reach. Both brokers are comparable on support quality.
| Feature | Plus500 | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, French, Italian, Spanish, Portuguese, German, Dutch, Polish, Arabic, Hebrew, Danish, Norwegian, Czech, Slovak, Bulgarian and Chinese | English, and Chinese |