To buy New Zealand investments, you can either auto-invest if you haven’t decided on a strategy yet or place a one-off order in a NZX-listed company. Using the Sharesies app:
Log in to your account first then select “Invest” from the main menu.
Search for a managed fund that you want to buy or buy the existing ones found in “Managed funds.”
Select the managed fund that you want to buy and click the “Buy” button at the bottom right corner.
Enter the amount that you want to invest.
Select “Review” to counter-check the details of your order.
Read and accept the Product Disclosure Statement (PDS) and, once you’re sure about the details, select the ‘I have read and accept the PDS’ to confirm your order.
As of the moment, you can’t transfer money from your Wallet to a Kids Account because this feature isn’t available at Sharesies yet. In the meantime, you can reinvest in the kid’s portfolio by selling and withdrawing your investments instead.
They’re looking forward to adding a feature wherein you can transfer money from your own Wallet to a Kids Account, so stay tuned for further announcements!
Among others, Sharesies apply the following fees:
Brokerage fee: also known as transaction fee (.50% for orders up to $3,000; 0.10% for any amount over $3,000)
Forex fees: will be displayed before you make an order
Subscription fee: based on your Portfolio value and can either be monthly or annually (first month is free)
Management fee: charged by the fund managers
Exchange fee: 0.4% for every NZ dollar to US dollar changes, and vise versa.
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