Westpac
XGLOBAL Markets
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Overview
Westpac was founded in 2008 and is headquartered in Austrailia, while XGLOBAL Markets was established in 2008 and is based in Cyprus. Westpac holds licences including Financial Conduct Authority (FCA), while XGLOBAL Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. Westpac serves 10,000+ clients worldwide; XGLOBAL Markets has 10,000+. The minimum deposit is $50 at Westpac and $500 at XGLOBAL Markets.
| Feature | Westpac | XGLOBAL Markets |
|---|---|---|
| Min. Deposit | $50 | $500 |
| Regulation | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2008 |
| Country | Austrailia | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Westpac and XGLOBAL Markets, directly affecting your bottom line as a trader. Westpac has a lower barrier to entry with a minimum deposit of $50 (vs $500 at XGLOBAL Markets). XGLOBAL Markets charges withdrawal fees while Westpac does not, giving Westpac an edge for frequent withdrawers. Westpac charges deposit fees; XGLOBAL Markets does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | Westpac | XGLOBAL Markets |
|---|---|---|
| Min. Deposit | $50 | $500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | No |
Platforms
Westpac offers MT4, MT5, cTrader, while XGLOBAL Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Westpac supports social and copy trading features, which XGLOBAL Markets does not offer. The two brokers are closely matched on platform offering.
| Feature | Westpac | XGLOBAL Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop,Mac,iPhone,Android,WEB | Desktop,iOS,Android |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Westpac and XGLOBAL Markets compare. Westpac runs regular live webinars; XGLOBAL Markets does not. Both provide video tutorials. Westpac publishes daily market commentary; XGLOBAL Markets does not. Both integrate third-party research tools. Westpac maintains an archive of past webinars for on-demand viewing. Westpac scores higher overall in education and research.
| Feature | Westpac | XGLOBAL Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Westpac accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while XGLOBAL Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Westpac | XGLOBAL Markets |
|---|---|---|
| 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 Westpac and XGLOBAL Markets 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 | Westpac | XGLOBAL Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |