Robinhood
Westpac
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Overview
Robinhood was founded in 2013 and is headquartered in USA, while Westpac was established in 2008 and is based in Austrailia. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. Robinhood serves 10,000,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $0 at Robinhood and $50 at Westpac.
| Feature | Robinhood | Westpac |
|---|---|---|
| Min. Deposit | $0 | $50 |
| Regulation | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2013 | 2008 |
| Country | USA | Austrailia |
| Clients | 10,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Robinhood and Westpac, directly affecting your bottom line as a trader. Robinhood has a lower barrier to entry with a minimum deposit of $0 (vs $50 at Westpac). Neither broker charges withdrawal fees. Robinhood charges deposit fees; Westpac does not. The two brokers are broadly comparable on fee structure.
| Feature | Robinhood | Westpac |
|---|---|---|
| Min. Deposit | $0 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | No |
Platforms
Robinhood offers a proprietary platform, 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. Westpac edges ahead on platform breadth and functionality in our scoring.
| Feature | Robinhood | Westpac |
|---|---|---|
| MT4 | No | Yes |
| MT5 | No | Yes |
| cTrader | No | 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 Robinhood 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 | Robinhood | 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. Robinhood accepts 1 of the tracked payment methods (bank transfer), while Westpac supports 2 (bank transfer, credit/debit card). Westpac uniquely supports credit/debit card among the two brokers. Westpac scores higher on deposit and withdrawal flexibility.
| Feature | Robinhood | Westpac |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | No | 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 Robinhood and Westpac offer live chat support. Westpac offers phone support; Robinhood does not. Email support is available at both brokers. Robinhood supports 13 languages and Westpac supports 2, giving Robinhood broader global reach. Westpac scores higher overall on customer support in our assessment.
| Feature | Robinhood | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | No | Yes |
| Email Support | Yes | Yes |
| Languages | English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, Romana, Turkce | English, and Chinese |