5 Best Stock Broker Services In New Zealand

Stock broker services allow you to trade, manage, and monitor your investments. To get started, simply open an account with the broker service, deposit some funds to invest, and choose which shares to purchase. 

Sounds easy? That's 'cause it is. You're then given access to different firms listed in the New Zealand Stock Exchange (NZX), New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE), Australian Securities Exchange (ASX), and other similar markets. You now have the opportunity to invest in Fortune 500 companies including Walmart, Apple, and Alphabet.

Even for beginners, investing in New Zealand can be really easy. As of 2022, The Heritage Foundation placed New Zealand 4th for economic freedom ranking. With an overall score of 80.6, it’s only behind Singapore, Switzerland, and Ireland.

As an investor, this means better terms with your local equity, dividend payments, derivatives, and debt markets.

Start investing using a stock broker service in New Zealand. Here are some of the best ones available in the market.

Disclaimer: This article is for informational purposes only and should not be used as legal or financial advice. Do your own due diligence and consult a financial advisor before making any investment decision.

Table of contents

• Sharesies: Best service for beginners
• Hatch Invest: Best service for beginners in US markets
• Stake: Best service for comprehensive trading in US markets
• TradeStation: Best service for seasoned investors
• Interactive Brokers: Best service for active global traders
• Forsyth Barr
• Somerset Smith Partners
• Jarden
• Other investment opportunities in NZ
   

Read: How To Start Investing In The Stock Market

1. Sharesies: Best service for beginners

• Transaction fee: 0.5% for up to $3,000 + 0.1% for above $3,000
• Currency conversion fee: 0.4% (for AU or US transactions)
• Other fees: Management fees depend on the fund provider

Sharesies offers investment for exchange-traded funds (ETFs) and managed funds listed on NZX, US stock exchanges, and ASX. There’s no minimum investment — you can start for as little as $10. With an auto-investing feature, easy-to-navigate interface, and affordable pricing, it’s one of the best share broker services for beginners.

Sharesies also offer Kids Accounts for Kiwis under 18 years old. The stock broker service gives kids the leverage to start early, and know more about financial management and building heir own investment portfolios.

Parents or legal guardians become the ‘trustee’ of the account, co-managing the investment to allow what’s beneficial for their children.

Why choose Sharesies

• No subscription fees for signing up with Sharesies
• Kids Accounts for children under 18 years old
• Low fees for NZX-listed companies
• Auto-investment strategy for beginners
• Available on website, iOS and Android devices
   

Read: Beyond KiwiSaver: Different Types Of Investments In New Zealand

2. Hatch Invest: Best service for beginners in US markets

• Transaction fee: US$ per trade for up 300 shares + USD 1c per trade for every exceeding share (e.g. 305 shares = US$3.05)
• Currency conversion fee: 0.5%
• Other fees: One-off fee of US$1.50 fee and an annual fee of USD 50c for mandatory yearly US tax filing

If you’re looking to invest in the NYSE — the largest share market in the world, Hatch Invest offers investments to over 900 ETFs listed in different US share markets. While they help Kiwis gain access to US markets, they’re owned by Kiwi Wealth and locally operated as a part of Kiwi Group Holding Limited. 

Opening an account is completely free, with no minimum investment. In partnership with DriveWealth — a Securities Investor Protection Corporation, you can guarantee secured trading and transactions.

Ultimately, this means that you own your shares — Hatch Invest and any other third party can’t control or decide on your behalf.

Why choose Hatch Invest

• Zero subscription fees so you can keep all your profits
  
• Kiwi Investment Accounts with discounted transaction fees
• Filing for US taxes and other obligations are taken care of 
• Limit orders, stop-loss orders and auto-invest features
• Hatch Invest offers courses to help you invest wisely
   

Read: How Does Investing Work In New Zealand?

3. Stake: Best service for comprehensive trading in US markets

• Transaction fee: Free trades (only regulatory fees apply)
• Currency conversion fee: 1% FX transfer fee
• Other fees: Optional express deposit of 0.5%; One-time completion fee of $5 for compulsory US tax filing

While Hatch Invest also opens the US markets to Kiwis, Stake offers more than 4,500 stocks and ETFs listed on US exchanges. More access to different funds means you have more options to choose what you really want to invest in. On top of this, they offer Stake Black for only $9 per month for more access to funds using more advanced tools and features.

One of the best features of Stake is, they don’t charge any brokerage or forex fees. With little to no fees, they’re also one of the most affordable services available in NZ.

They work with the New Zealand Financial Markets Authority (FMA) for compliance with the current trading regulations. With this, Kiwis can ensure safer investment environments.

Why choose Stake

• Service with one of of the lowest fees available in NZ
• Affordable premium feature, Stake Black, for only $9/month
• Easy-to-use native iOS and Android apps, both with positive reviews
• Option to buy fractional shares (e.g. 0.30 of one full Apple share
• Day trading can be accessed by Stake Black subscribers

4. TradeStation: Best service for seasoned investors

• Transaction fee: $0 commission on stocks and ETFs 
• Currency conversion fee: Fees may vary depending on the fund
• Other fees: Return mail fee of $5 per item among other fund fees

For seasoned investors that want the most reliable features, TradeStation is one of the best international stock broker services available in New Zealand. With a proven track record dating back to 1982, they’re well-regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) for more transparent and secured investment.

TradeStation includes major stock markets in New Zealand, Australia, North America, Europe, and Asia. For professional traders, this is a great opportunity to diversify their portfolios across the world.

New traders can also use the TS GO account option, offering educational development tools to help you invest more professionally moving forward.

Why choose TradeStation

• Zero commission for stocks and most ETFs in listed markets
• No minimum deposit required on most of all their financial instruments
• Regulated by SEC, FINRA, and other US licensing bodies
• Educational resources for new traders on professional investing
• Real-time data for stocks, ETFs, futures, indices, and other similar funds

Read: Guide To Cryptocurrency In NZ: Invest, Buy and Trade

5. Interactive Brokers: Best service for active global traders

• Transaction fee: As low as $0 commission on stocks and ETFs
• Currency conversion fee: Fees may vary depending on the fund
• Other fees: Depends on the stock exchange and fund

Interactive Brokers (IBKR) offers one of the most comprehensive lists of shares in more than 120 exchanges worldwide. Whether it’s ETFs, futures, options, warrants, forex, funds, or even precious metals, they allow you to trade easily and securely. They offer all kinds of financial products as they’re one of the most established sites, dating back to 1978.

While IBKR is geared towards experienced investors, IBKR Lite makes free trades possible for casual traders. This is a great way to introduce beginners and slowly transition to more of their comprehensive offerings.

On top of this, they have low margin rates — as little as 0.75% for Pro users, and a flat rate of 2.25% for Lite users.

Why choose Interactive Brokers

• Awarded by reputable financial sites like Investopedia and NerdWallet
• Offer one of the lowest costs in the industry, with no hidden fees
• Free trading tools with comprehensive real-time trade confirmations
• Option to choose the best account type for you among 7 accounts
• Screening options are easy-to-use on their desktop and mobile platforms
   

Read: How To Invest In Index Funds In NZ

Other stock broker services in NZ

Besides the five stockbroker services listed above, there are other choices available in New Zealand if you don’t find the terms or fees amenable to you. Other platforms to consider include

• Forsyth Barr - Regulated by the FMA, the stock broker services offer personalised investment options backed by quality research and experienced advisors.
• Somerset Smith Partners - Being one of the oldest brokerages in New Zealand, the online broker service mainly provides access to companies in NZ And Australia.
• Jarden - It’s an NZ-based stock broker service, offering shares, blinds, and IPOs in New Zealand and Australia. 

Other investment opportunities in NZ

New Zealand has a very competitive investment market. Stocks, shares, ETFs, CFDs, among similar financial services, are just some of your many options. Properties, KiwiSaver, cryptocurrencies, and many more are also viable investment opportunities. 

Whatever you choose, make sure you have the right investment platform. It’s wise to use our free comparison tool to know more about your options.