Westpac
Zacks Trade
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Overview
Westpac was founded in 2008 and is headquartered in Austrailia, while Zacks Trade was established in 2008 and is based in United States. Westpac holds licences including Financial Conduct Authority (FCA), while Zacks Trade is regulated by Unregulated among others. Westpac serves 10,000+ clients worldwide; Zacks Trade has 10,000+. The minimum deposit is $50 at Westpac and $2500 at Zacks Trade.
| Feature | Westpac | Zacks Trade |
|---|---|---|
| Min. Deposit | $50 | $2500 |
| Regulation | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) | Unregulated |
| Founded | 2008 | 2008 |
| Country | Austrailia | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Westpac and Zacks Trade, directly affecting your bottom line as a trader. Zacks Trade has a lower barrier to entry with a minimum deposit of $2500 (vs $50 at Westpac). Neither broker charges withdrawal fees. Westpac charges deposit fees; Zacks Trade does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | Westpac | Zacks Trade |
|---|---|---|
| Min. Deposit | $50 | $2500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
Westpac offers MT4, MT5, cTrader, while Zacks Trade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Westpac supports social and copy trading features, which Zacks Trade does not offer. The two brokers are closely matched on platform offering.
| Feature | Westpac | Zacks Trade |
|---|---|---|
| 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 | Android,iPhone/iPad,Tablet |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Westpac and Zacks Trade 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 | Westpac | Zacks Trade |
|---|---|---|
| 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. Westpac accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Zacks Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Westpac | Zacks Trade |
|---|---|---|
| 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 Zacks Trade 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 | Zacks Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |