Here we will help you understand more about investing and how to use your Online Investing Account – from the benefits and risks of investing, making your first trade to reviewing your share portfolio. You’ll also find information on the types of accounts we offer and trading tools such as alerts and conditional orders.

Learn more about investing

  1. Tips to picking high yield stocks
  2. Borrowing to invest
  3. The share market offers much more than shares
  4. Understanding risk
  5. Managing risk and volatility
  6. About diversification
  7. Tax considerations

How to use your Online Investing Account

  1. Home Page Customisation
  2. Quicklinks
  3. Finding a Quote
  4. Using Charts
  5. Creating your personal share
  6. Watchlist – Using Market Map
  7. Placing a Trade
  8. Reviewing, amending and cancelling orders
  9. Track your Portfolio
  10. Maintaining your personal details
  11. Using Alerts
  12. Conditional Orders
  13. Types of trading accounts
  14. How to get Analyst Recommendations

Client Guide

A downloadable guide providing instructions on how to navigate and use the Westpac Online Investing trading platform.


Tips to picking high yield stocks

As investors hunt for better return on investments, here are some considerations to help identify high yielding shares to add to an investment portfolio. High yielding shares are often an attractive investment option when interest rates are low. Although there is no guarantee that dividends will be paid, where dividends are paid they may provide a higher return than an investment in a bank deposit in a low interest rate environment.

Dividend yield can be calculated using the following example: If two companies both pay annual dividends of $1 per share, but Company X’s average share price is trading at $20 while Company Y’s average share price is trading at $40, then Company X has a dividend yield of 5.0% pa ($1/$20x100 = 5.0%) while Company Y is yielding 2.5% pa ($1/$40x100 = 2.5%), assuming all other factors are equal. An investor looking to supplement their income would likely prefer Company X shares over that of Company Y. It is easy to see the appeal of investing in high yielding shares when you compare Company A’s dividend yield of 5.0% pa to the RBA’s official cash rate of 2.25% pa (as at 3 February 2015). In making any decision, investors should fully research both investments including the associated risks and the likelihood of franking credits attaching to the dividends.

However, with over 2,200 companies listed on the ASX, identifying the right addition to a portfolio could be like finding a needle in a haystack. Some tips for identifying high yielding stocks are set out below.

  • Tip 1: Start with a shortlist of stocks that have historically paid the highest dividend yield.

    Dividend yield is the dividend paid per share divided by the current share price. It’s worth looking at the franking credits on offer as investors may be able to claim an additional tax benefit which can further enhance the yield.

  • Tip 2: Using the shortlist, research each stock to ensure the valuation or future target price is at or above the current price.

    Ideally look to buy stocks that have strong dividend yield and forecast share price growth.

  • Tip 3: Look at the economic environment for each company.

    Dividend yield comes from the cashflow the company generates in the market segments in which it competes. Is the company well positioned for growth? Is there growing demand for its services? Will it continue to generate the cashflow to sustain its dividend yield?

  • Tip 4: Then look at the company’s fundamentals.

    Company data such as historical dividends per share, earnings growth and return on equity will show whether the company has a history of strong performance that will assist it in sustaining its dividend yield in the future.

  • Tip 5: Once the stocks have been chosen, decide when to make the purchase.

    To be entitled to a dividend a shareholder must have purchased shares before the ex dividend date. Shares are quoted ex dividend one business day before the record date, when a company’s shareholder register is closed. You can also use market volatility and short term dips in market prices to buy the shares at a lower price and improve your dividend yield.

It’s important to keep in mind that dividend yield is not the only thing to consider when choosing an investment; investors should also consider the potential for share price growth and the risks associated with the investment as well. Remember the future is unknown, forecasts may be wrong, and past performance may not be a reliable indicator of future performance. It is important to consider a range of information from different sources before making any decisions, to monitor the performance of investments closely and, if necessary, seek professional advice.

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Borrowing to invest

A margin or investment loan lets you borrow money to invest using your existing cash, shares or managed funds as security rather than other assets like your home. This method of leveraging your assets to borrow and then invest is known as gearing. The amount that you can borrow is determined by the securities in your portfolio, their Loan to Value Ratio (LVR) and a credit limit based on an assessment of your financial position which we call your margin.


  • Access to additional funds for investment may help you reach your financial goals faster.
  • It enables you to diversify your portfolio with new investments.
  • Potentially increases the size of your investment returns.
  • Interest payable on a margin loan may be tax deductible.
  • You may be able to defer taxation on potential capital gains, as you do not have to sell your existing investments to make new investments.


  • While borrowing to invest may increase potential returns, it can also increase potential losses.
  • Where a margin loan is used, a margin call may occur, requiring you to add more funds or sell your investments.
  • The value of your security portfolio may not go up, or if it does go up, the increase in value may not be sufficient to cover the costs of the investment.
  • If you are not able to fund your loan obligations (including interest, fees and charges), your securities could be sold to meet your obligations.
  • You should seek independent professional tax advice to make sure you understand the tax consequences associated with margin lending.

A margin call can occur when the market value of your security portfolio falls significantly, which in turn will reduce your borrowing limit. This will cause a rise in your gearing level, as your loan balance has not changed resulting in your current gearing level exceeding your maximum LVR. It can also occur when LVRs assigned to your security portfolio are reduced as they are subject to change at any time or when the interest rate applicable to your margin loan is increased as it may be varied at any time (except on any amount for which you prepaid interest or have entered into a fixed interest rate arrangement). If the interest rate rises, your interest repayments may be more than your investment returns, and you may not be able to meet your interest payments.

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The share market offers much more than just shares

The ‘share market’ allows investors to not only buy and sell shares in companies, but also a range of other investments. These investments are ‘listed’ on the share market, and can be bought and sold in the same way as shares.

  • Fixed income securities
  • Listed property trusts
  • Listed managed funds, including exchange-traded funds
  • Exchange-traded commodities products
  • Exchange-traded derivatives

Each listed product is different and you should consult the disclosure documents available from the product issuer before making any decisions, some common features of certain types of products are discussed below:

Fixed income securities

Fixed income securities pay a defined income stream to investors. They can range from relatively simple and safe (such as Australian government bonds), to more complex and risky (such as convertible notes). Fixed income securities have a defined maturity date, at which point the issuer commits to returning the face value of the investment in cash (in the case of bonds), or in shares (in the case of convertible notes). The four main types of fixed income securities are Australian government bonds, corporate bonds, preference shares (hybrids) and convertible notes.

Listed property trusts

Property trusts pool investors’ funds (often billions of dollars’ worth), and use those funds to purchase real estate. Many property trusts specialise in particular sectors, such as commercial, office or industrial property. They give investors access to property sectors and investments that may otherwise be well beyond their reach.

Listed managed funds

Managed funds pool investors’ money and follow a defined investment strategy. They can be ‘actively managed’ (where the fund manager makes the investment decisions), or designed to track the performance of a particular market or index. Managed funds can provide diversification and exposure to overseas or specialist markets that investors may not otherwise have access to.

Exchange-traded commodities products

Exchange traded commodities products give investors exposure to the performance of precious metals such as gold, silver and platinum. Rather than buying the actual commodities directly, investors can buy an ASX listed product that provides exposure to the relevant commodity and may track the performance of a particular commodity market or commodity index.

Exchange-traded derivatives

  • Warrants - Financial instruments that derive their value from an underlying investment, such as a share, a market index, a currency or commodity. They typically give the holder the right to buy or sell the underlying investment, or receive a cash payment in lieu of the underlying investment, at a particular time.
  • Options - Purchasing an exchange traded option (ETO) gives an investor the right – but not the obligation – to buy or sell an underlying asset at or up to a specific point in the future. Options can be used by traders to profit from market movements, for risk management (hedging) or to generate income.
  • Futures - A futures contract is an obligation (not an option) to buy or sell an underlying asset at a specific point in the future. Futures can be traded over a range of underlying markets such as shares, bonds, currencies and commodities. Futures can be used by traders to profit from market movements or for risk management (hedging).
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Understanding Risk

All investments carry some level of risk. The key is making sure you make the right decisions based on your individual circumstances, and take into account the level of risk you are willing to take on, which is sometimes referred to as your ‘risk profile’.

Your risk profile reflects your perception of the acceptable trade-off between risk and the reward on offer for taking on that investment risk. If you are willing to accept a high degree of risk, then a high-risk, high-return investment may be a viable option for wealth accumulation purposes. In contrast, if you are risk-averse you may find that a small decline in the investment may cause undue anxiety and a conservative low-risk, low-return investment might be better suited to you.

Another factor that affects your risk profile is your investment planning time horizon. If you are a long-term investor, you can better afford to assume greater risks for better potential returns over the longer term. However, as your planning horizon shortens, the risk of loss from shortfalls increases, and you may be less willing to bear risk.

Choosing the right investment for your risk profile

Every investor's risk tolerance is different. You should consider:

  • Your investment goals
  • Your expectations for returns
  • The length of time you can hold your investment
  • How comfortable you are with fluctuations in the value of your investment

Investor risk profiles – which fits you?

Understanding your risk profile may help guide your decisions about your investments. Some examples of risk profiles are below:

  • Conservative - an investor who seeks to protect their accumulated wealth and is only prepared to accept a relatively low level of risk.
  • Balanced - an investor who seeks an investment that provides a mix of income and capital growth, should be stable in value over a 3-year period, but could fall in value by 5-10% within a year. Over the long term this strategy could provide a return of 6-8% per annum.
  • Growth - an investor who seeks more growth than income with an overall investment portfolio that could provide growth of 8-10% per annum over the long term. The flip side is that in any one year it could fall by as much as 20% in value.
  • High Growth/Aggressive - an investor who predominantly seeks growth assets that could provide returns of greater than 10% per annum over the long term. The flip side is that in any one year it could fall by greater than 20% in value.

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Managing risk and volatility

Most of us have either experienced or heard stories of share market “crashes”. So how do we deal with the risks and volatility inherent in share investing? There are a number of ways to manage this risk.


Putting all your money into a single type of investment is risky. To reduce your exposure to risk, it's worth looking at spreading your investments over a variety of asset classes and diversifying within asset classes. With a diverse portfolio, losses in one asset class can potentially be offset by gains in another.

Take a long-term view

As an investor, time can be your most valuable asset. Leaving your money invested longer can help to increase your chance of earning higher returns and allow time for your assets to recover from periods of market volatility or price fluctuations. In general, you may be able to reduce investment risk by being a stayer, not a short-term player.

Make regular contributions

You can also minimise your risk by investing smaller, regular amounts over a longer timeframe. This is known as dollar cost averaging. Let's say you can afford to buy a large block of shares in Company X all at once. Instead of doing that – and exposing yourself to a ‘bad timing' risk – it could be safer to buy those shares in smaller parcels spread out over a period of time. The price you pay for each parcel will differ, as Company X shares rise and fall in value, but the average price of your shareholding is more likely to reflect the company's fundamental value over time.

Another important benefit of investing regularly is that you stay invested. By keeping your money in the market rather than moving in and out of the market, you incur less transaction costs involved with buying and selling, and reduce the risk of missing out on gains occurring when you are not in the market. More importantly perhaps, where your investments are making a positive return, you also allow your money to benefit from compounding, which is the impact of keeping the returns you earn invested in the market, so that you earn returns on an increasing investment amount. Thanks to the power of compounding you don’t need a huge sum of money to start building long-term wealth. In fact, the length of time you are invested can be as important (or even more) than how much money you invest. The longer you are invested, the greater the accumulated effects of compounding will be (the more you can earn from your initial investment amount). You can benefit from compounding if you are retaining your earnings in an investment that generates positive returns on an ongoing basis.

Stop-loss orders

In share trading, a ‘stop-loss’ order is a sell order that is conditional on the share price falling to a particular level (the ‘trigger price’). When the trigger price is reached, a sell order is then placed on the market. Depending on the broker, this may be an ‘at limit’ (which sets a minimum or maximum selling or buying price) or ‘at market’ (which means trade at whatever the market price is at the time) sell order. Note that stop-loss orders have their risks – in a rapidly falling market your order may only get partially executed or not executed at all.


Most online brokers will allow you to set up alerts, so that you are notified (via email or push notifications) when a specific event occurs. Common types of alerts are Price alerts (when the stock price rises above or falls below a specified price trigger) and Announcement alerts (when a company makes an announcement to the market).

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About diversification

One way to reduce the risk of losing money is to diversify your investments. By spreading your money across different asset classes, regions, sectors and investment managers, you can increase your chance of having some exposure to high-performing investments at a particular point in time and limit the impact of negative events on any one asset class or investment on your overall portfolio performance.

Asset class diversification

Diversifying across asset classes minimises the impact on you of underperformance in any one asset class. Your asset allocation will reflect how cautious or aggressive your investment strategy is.

Sector diversification

Within each asset class there are various sectors, each of which may have different investment characteristics (for example, mining companies are quite different to financial services companies). Even within an asset class, diversity can be beneficial. Diversifying across various sectors reduces the risk of exposure to any one sector. Key investment sectors in the share market include:

  • Financials
  • Metals & Mining
  • Telecommunications
  • Industrials
  • Healthcare

How to achieve diversification

Achieving diversification requires planning and ongoing monitoring. Consider the following:

  • Set a target asset allocation as part of your investment strategy.
  • Use managed funds (including exchange-traded funds) to achieve diversification or get exposure to an asset class if you are only investing a modest amount.
  • Another way to diversify within an asset class is to invest in local and overseas assets.
  • Beware single stock risk – don’t put all your eggs in one basket.
  • Regularly review your investment allocation.

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Tax Considerations

In order to maximise your investment returns, you generally need to consider strategies to enhance investment value. Here are some fundamentals for you to consider.

Capital Gains Tax (CGT)

A capital gain is the profit you make from the sale of an investment asset. As an individual investor, you may be eligible for the 50% Capital Gains Tax (CGT) discount on certain capital gains where you have held the asset for 12 months or more.

Your net capital gain for a financial year is the total of your capital gains for the year reduced by your capital losses. CGT is the tax you pay on any net capital gain. Any net capital gain is included on your annual income tax return. Your eligibility for the 50% CGT discount depends on several factors, including timing. These factors are explained on the Australian Taxation Office website.

Although you can't deduct a net capital loss from your taxable income, you may be able to carry capital losses forward to later financial years to be offset against future capital gains.

Share dividends and franking credits

Dividends are subject to income tax at your marginal tax rate. If the company has already paid tax on their profits, then tax credits known as franking credits can be attached to the dividends that you receive. Subject to certain qualifications these franking credits may be used to offset tax that you are due to pay on other income.

Tax and gearing

Investment gearing can also be a tax effective strategy for some people. If you borrow money to invest with the intention to derive assessable income, you would naturally do so in the hope that your investment will increase in value over time. But if you pay more in loan interest than you earn from your loan-funded investment in a particular financial year, you may be able to deduct the difference from your total taxable income. Certain borrowing expenses such as loan establishment fees may also be deductible over the period of the loan or five years, whichever is shorter.

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Home Page Customisation

When you first login to your account you are presented with the Online Investing home page. This page can be customised to your own needs. To do this, click on ‘show’ in ‘Manage My Home Page’ menu.


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Our Quicklinks menu gives you one-click access to the most used pages on the Westpac Online Investing website.

Once logged in, the Quicklinks menu is viewable within every page on Westpac Online Investing in the top right hand corner:


Quicklink Icon links List:

  • Buy Order
Buy Order
  • View Watchlists
View Watchlists
  • Sell Order
Sell Order
  • View Holdings
View Holdings
  • Quotes & Depth
Quotes & Depth
  • View Portfolio
View Portfolio
  • Manage Orders
Manage Orders
  • View Account Snapshot
View Account Snapshot

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Finding a Quote

Go to Quotes & Research > Quotes to find a quote or quickly navigate to Market Depth, Course of Sales, Company Research, Options Series and Charting. You can easily find the code of any security using the predictive Stock Picker.

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Using Charts - Compare Feature

Using our charting tool, you can select as many as 5 other stocks, commodities, FX rates or indices to compare against your selected security. For example, the compare tool can be applied to the charts to measure your selected securities’ performance against the ASX200 index or another comparable stock.

To use the Compare tool, click on the drop down box highlighted below:

Using Charts

Security – You can use the Code field to enter another security with which to compare your selected security against (see image below).

Using Charts

Comparisons are also available against:

  • Australian Indices – Check how your selected security has performed against the various Australian indices.

  • Australian Sectors – This allows you to track how your selected security has performed relative to its industry sector or even against another industry sector.

  • Commodities – See how your selected security has performed against price of gold, silver, copper or oil.

  • Foreign Exchange – There is a range of currency rates to compare against your selected security.

  • International Indices – Compare how your selected security has performed against the major US indices.

Start using Charts now.

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Creating your personal share watchlists


  1. Click Watchlists in the top navigation menu then click 'View Watchlists'
  2. Click on ‘Add Watchlist’
  3. Enter the ‘Security Code’ in the code search box and click ‘Add’
  4. Repeat for each stock that would like to include in your Watchlist
  5. Click on ‘Edit’ to rename your Watchlist or specify the ‘Purchase Date’, ‘Purchase Price’ and ‘Units’ for each security
  6. You have three ‘Views’ to select from – Shares, Portfolio or Options, which includes specific columns and data for that specific view.
  7. You can save a particular view, Watchlist, or Watchlist group as your default view by clicking ‘Settings’, choosing from the drop down menu next to ‘Default Watchlist View’ and clicking ‘Save’.
  8. Add up to 35 stocks to each Watchlist, and display and group Watchlists together on a single screen.
  9. You can also buy or sell stock from the Watchlist Menu, as well as perform other tasks such as create alerts via the ‘Actions’ drop down list.

To delete an item from your Watchlist


  1. To remove a security from the Watchlist, simply click on the drop_down_icon icon at the far right of the stock row, and select ‘Remove from Watchlist’ in the pull down menu.

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Watchlist – Launching Market Map View

A market map is a graphical representation of how the stocks in your Watchlist are performing on a given day.

To view the Market Map:

  1. Log-in and open your Watchlist (opens in new window)
  2. To launch the Market Map view, click “Launch Market Map” within your Watchlist table as shown the example below:

Watchlist Market Map

Once you click on “Launch Market Map” a new window with open as shown below:

Watchlist Market Map

How to read the Market Map:

  • A coloured rectangle represents an individual company in your Watchlist
  • Green filled rectangles mean the security price has risen from the prior trading day closing price
  • Red filled rectangles mean the security price has fallen from the prior trading day closing price
  • The brighter the colour the greater the movement in securities price
  • By moving your cursor over a security on the map, additional detail such as current price, percentage change in price and the Market Capitalisation will automatically show on your screen.

Start using Watchlist

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Placing a Trade

Place Order Shares

  1. Go to Trading from the top navigation menu, then click on Share Orders > Place Order.
  2. Select the order type as either ‘buy’ or ‘sell’ and then enter the code for the stock you wish to trade in. If you are unsure of the code for the shares you wish to trade in, you may click on the magnifying glass next to the stock code field and search the name of the stock.
  3. Enter the quantity of shares you wish to trade or alternatively enter a value for the total dollar value of shares you wish to purchase. If you enter a dollar value for the shares you wish to purchase you must select a ‘limit price’ in the next step.
  4. Enter a limit price, the maximum amount you are willing to pay per share for a buy order or the lowest amount you wish to receive per share for a sell order, alternatively you may select ‘At Market’ which will match your order to the top bid or offer price at the time of execution. Market orders are not guaranteed to execute at the current best price in market. You may use the ‘Market depth’ on the right hand side of the page to assist you in selecting a ‘limit price’.
  5. Our system will automatically display an estimate once all fields are completed within the order pad. Click ‘Proceed’ and you will receive a confirmation box that shows your order details to confirm. Please ensure you review all order details on the page. If you would like to make any changes to your order, click on ‘change’ or ‘cancel’ to enter the correct order details. If you are happy with the order click ‘Submit Order’ if the order details are correct. This is your final approval to place the order.
  6. You will then receive an order reference number when complete.

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Reviewing, amending and cancelling orders

Manage Orders Shares

Go to Trading > Share Orders > Manage Orders from the top navigation menu.

To review the status of your orders

Select one of the following options from the ‘View’ dropdown list; ‘Outstanding’, ‘Cancelled’ or ‘Executed’ orders for the account.

To amend your open orders

Once you have found your order in ‘Outstanding Order’ under ‘Action’ on the right hand side select ‘Amend’. This will bring up the order pad where you can increase or decrease the total quantity and amend the ‘At Limit’ price and/or ‘Order Duration’ for an open order. An open order is an order that remains unfilled or partially unfilled in the market. Simply click ‘Preview Order’ when your changes are complete, before clicking ‘Submit Amendment’ on the following page.

To cancel an order

Under ‘Action’ select ‘Cancel’. This will bring up the order pad, select ‘cancel order’ on the bottom of the page, you will receive a notification if the request has been successful.

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Track your Portfolio


Go to My Account > My Portfolio > Portfolio from the top navigation menu.

Review all your accounts on one screen, including your eligible Westpac cash account, Westpac Online Investment Loan and BT Margin Loan if you have one. You can also view portfolio charts, making it faster and easier to get an overview of your entire position.

You can select ‘Actions’ to take you to your ‘Holdings & Accounts’ or ‘Place an Order’ pages.

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Maintaining your personal details

Go to My Account > My Profile > Personal Details from the top navigation menu. You can easily review and amend your postal or residential address under ‘Personal Details’. Just select the address you wish to edit and click on ‘Edit’. You can also review your contact number and email addresses.



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Using Alerts

Before you can begin using Westpac Online Investing Share Alerts, navigate to My Account > My Profile > Alerts & Subscriptions and simply click on the ‘subscribe’ button.

Westpac Online Investing share alerts help keep you informed, wherever you happen to be. You can now enjoy the benefits of free and unlimited alerts. Choose to receive alerts to your own personal email address and/or by Push Notification to your smartphone via the Westpac Online Investing app.


Price Alerts – Receive an alert when the stock price crosses a specific value. You can use this alert type to track changes in price for individual stocks.

Volume Alerts – Receive an alert when the trading volume for a stock crosses a specific threshold. You can use this alert type to track changes in trading volume for individual stocks.

Market sensitive announcement Alerts – Receive recurring alerts whenever a company releases a market sensitive announcement. Use this alert to stay on top of the latest news that could affect your investments.

Stock goes ex-dividend Alerts – Receive an alert when a stock’s ex-dividend date is approaching. Use this alert to stay informed of approaching dividend deadlines when making time-sensitive decisions.

Click here to find out more about Alerts.

Please read the Subscriptions, Packages and Alerts Terms and Conditions for important information regarding this Alerts service.

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Conditional Orders

Go to Trading > Conditional Orders > Place Order from the top navigation menu.

Conditional orders have two components; an order to buy or sell a stock and a trigger which specifies the market conditions that must be met before the order can be placed. For example you may want to sell a stock if its price falls below a certain level to protect yourself against further potential losses, you may also wish for your order to be triggered only if more than a certain volume of shares have been traded on the same day. The market will be constantly monitored for you and as soon as your chosen trigger criteria are met your order instruction can be placed.

Conditional orders are active for up to 12 months. Open conditional orders (e.g. orders where the market conditions have not yet met your trigger) may be cancelled or amended within 12 months of their creation which means you can adjust them as the market moves or your trading strategy changes. If the trigger conditions are met and your order is placed (and is now in the market) your equity order will have a default expiry of 21 calendar days.

Managing your conditional orders is easy, simply log into your Westpac Online Investing account and go to Trading > Conditional Orders > Manage Orders. There you are able to edit and/or view all your outstanding, cancelled and executed triggers.

We can keep you informed when your conditional order is placed, expired, cancelled and/or executed by sending you a notification via SMS or email. For your convenience when you register for conditional orders you will also be registered for our 'Alerts Service' so that you can start receiving alerts for conditional orders immediately.

You don't need to request these notifications, if you have chosen to be notified by SMS or email you will automatically receive a notification when your conditional order is sent to market, on the first partial fill and when your order is completed.

Please read the Conditional Trading Terms & Conditions for important information and risks regarding Conditional Orders.

Placeorder Conditional

Types of Conditional Orders and how to use them

We offer six types of Conditional Order - Falling Buy/Sell, Rising Buy/Sell and Trailing Buy/Sell

Volume Conditions
You may also set a volume that must trade before your order is processed. Setting a volume condition may help to ensure that the order is not triggered without sufficient momentum in the traded volume of the stock. The volume condition considers all shares traded on the same day the price condition/s is/are met, and includes shares traded at both above and below the condition price. If you enter a volume limit, your conditional order will only be triggered once the price limit has been met and your volume target has been reached on the same day.

Price Order Types - Falling Buy/Sell or Rising Buy/Sell
You set the price the stock must trade at before your order is triggered.

Falling Sell Order (Stop Loss)
A falling sell order may help you to limit any losses or protect any gains. For example you may have an unrealised profit on a stock that you don't want to lose should the price fall. You can set a condition to trigger a sell order if the stock price drops and your profit starts to erode.

Example 1 – Falling Sell
For example you may have bought stock XYZ at $10.60 and be unwilling to hold it if the price fell to $10.00. You may consider placing a conditional order to sell XYZ at $10.00 when XYZ trades at or below $10.01.

Example 2 – Falling Sell Price & Volume Order
A more complex conditional (falling sell) order includes setting a volume limit together with a price limit. This means that not only does the stock price need to fall to the market conditions you have specified, $10.01 in the case above, but that the volume of shares traded on the day the price limit is reached must reach the volume limit you have specified. For example you might place an order to sell XYZ at $10.00 when in the market XYZ trades at or below $10.01 and at least a minimum of 10,000 shares traded is met. The shares traded volume includes all shares traded on the day (both above and below the condition price).

Falling Buy Order
You may wish to trigger an instruction to buy when the price drops to a chosen level.

Example 1 - Falling Buy
For example you are watching a stock and while it is generally rising in price on occasions its price falls. You may not want to have a buy order in the market until there has been a price drop. For example stock XYZ trades in a range of $2.30 to $2.60 and although you expect it to appreciate significantly you see it may trade at lower prices. You set the condition that when XYZ trades at or below $2.00 place an order to buy XYZ at $2.00.

Example 2 – Falling Buy Price & Volume Trigger
You may wish to place a buy order when there is a downward movement in a stock but only if a significant volume has traded. For example XYZ is currently trading at $16.27 and you place a conditional buy order with an 'at or below' trigger of $16.00 and 1,000,000 units volume trigger. If the price reaches $16.00 and only 900,000 units have traded that day then your order will not be triggered. Only when both the volume traded on that day is above 1,000,000 units and the last sale price is 'at or below' $16.00 is the order triggered.

Rising Sell (Profit Trigger)
Rising sell orders are designed to allow you to sell stock should its price rise to a particular level, without always monitoring its price.

Example 1 - Rising Sell
You may have bought stock ABC at $5.60 and wish to sell it if the price rises to $7.00. You may consider placing a conditional order to sell ABC at $7.00, so that you do not have to watch the market for this condition to be met.

Example 2 - Rising Sell Price & Volume Trigger
A more complex profit trigger order includes specifying a volume limit together with a price limit. This means that not only does the stock price need to rise to the market conditions you have specified, $7.00 in the case above, but that the volume of shares traded on the day the price limit is reached must reach the volume limit you have specified.

For example sell ABC at $7.00 when the market condition of ABC trades at $7.00 or above and at least a minimum of 10,000 shares traded is met. The shares traded volume includes all shares traded on the day (both above and below the condition price).

Rising Buy Order
You may wish to place a buy order when there has been upward movement in the stock price.

Example 1 - Rising Buy
You may be watching ABC which trades in a range of $2.30 to $2.60 and although you expect it to appreciate above $2.60 you don't wish to hold the stock while waiting for that upward trend. You might set a conditional order to place an instruction to buy ABC at no more than $2.75 when ABC trades at or above $2.70.

Trailing Order Types
These order types allow the market to continue to run in the favour of the order before triggering your sell or buy. You choose a Trail Start Price where you wish stock price monitoring to begin, and a Trail Stop Value which specifies the size of the stock price movement that must occur for your Market order to be triggered. Volume and Time criteria can also be set to constrain the Triggering of your order if you wish.

Trailing Sell Order
Trailing Sell orders may assist in maximising profits when a stock price is rising. A Trailing Sell enables you to place an instruction to sell some or all of your holdings in a stock if the price rises to your trail start price or above; and then falls by an amount equal to or greater than the trail stop value you have set.

Example - Trailing Sell
For example, you have been watching the price of XYZ Ltd, which has been trading at $4.00 per unit and appears to be rising. You create a Trailing Sell order with a trail start price of $4.20 and trail stop value of $0.10. In this example, the market price of XYZ Ltd reaches $4.20, and then experiences a fall of $0.05to $4.15 before rising again. Because the trail stop was set at $0.10, the order did not trigger at $4.15. XYZ Ltd continues to rise, reaching a high of $5.20 before falling $0.10 to $5.10 which meant your Market order triggered at $5.10.

Trailing Buy Order
Trailing Buy orders may help you minimise the price you pay when investing in a stock. A Trailing Buy enables you to place an instruction to buy a stock after the share price falls at least as far as the trail start price you selected, and then rises an amount equal to or greater than the trail stop value you have set.

Example - Trailing Buy
For example, you have been watching the price of XYZ Ltd, which has been trading at $3.10 per unit and appears to be declining. You create a Trailing Buy order with a trail start price of $2.90 and trail stop value of $0.10. In this example, the market price of XYZ Ltd falls to $2.90, and then experiences a rise of $0.05 to $2.95 before falling again. Because the trail stop was set at $0.10, the order did not trigger. XYZ Ltd then falls to a low of $1.90 before rising by $0.10 to $2.00 which meant your Market order triggered at $2.00.

Please read the Conditional Trading Terms & Conditions for important information regarding Conditional Orders.

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Types of Accounts

Choose to pay for your trades using either an integrated account or a standard account.

Integrated Westpac Online Investment Loan

If you choose to settle your trades to a Westpac Online Investment Loan, you will receive preferred brokerage rates, of $19.95 or 0.11%, whichever is greater.

Integrated BT Margin Loan

If you choose to settle your trades to a BT Margin Loan, you will receive preferred brokerage rates, of $19.95 or 0.11% (whichever is greater) and a 0.20% discount interest on your margin loan.

Integrated Westpac Cash Investment Accounts

If you choose to settle your trades to a Westpac Cash Investment Account, you will receive preferred brokerage rates, of $19.95 or 0.11% (whichever is greater).

Standard Accounts

A standard account allows you to settle to any eligible bank account and trade from $29.95. Choose from two easy payment options:

  • Direct debit - trades will be automatically settled by direct debit on settlement day. You need to nominate the bank account you want these payments made from on your application form. For security purposes, this nominated bank account must be in the same name as your Online Investing account. We also pay sell proceeds to this bank account.
  • BPAY® - selecting BPAY® allows you to pay for trades via the phone or Internet. If you are an existing Westpac customer and already registered with Westpac Online Banking, you can easily link it to Westpac Securities. See Westpac Online Banking for more information.

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Analyst Recommendations

Access free buy/hold/sell recommendations on the S&P ASX50.

Westpac Online Investing provides free Morningstar stock recommendations over the S&P/ASX50, along with important company information to help your investing decisions.

Analyst Recommendations

Simply select ‘Recommendations’ under ‘Quotes & Research’ in the left hand menu. This will display a list of the top 50 stocks listed on the ASX, along with the Morningstar analyst recommendation.

To view the Morningstar recommendations over the S&P/ASX 50 click here

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Any securities or prices used in the examples on this website are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Past performance is not indicative of future performance.