If you're intrigued by the world of financial investments and trading stocks and shares, you'll be pleased to know that the most convenient and accessible way to do this nowadays is through an app or an online platform.
This puts the power of investing right at your fingertips, allowing you to manage your investments whenever and wherever you want.
These financial apps and platforms usually allow traders to create an account and start trading (once verified).
Now, let's dive into the exciting world of trade platforms for making financial investments in New Zealand. Each platform offers a unique set of features and investment options, giving you a wide range of possibilities to explore and potentially profit from.
ASB Securities
ASB Securities is a platform offering New Zealand and Australian shares. The fees are between $15 and $30 or 0.30%, depending on the size of the trade. The minimum investment offered by ASB securities is $1.
Interestingly, ASB Securities restricts access to the live data to users who've traded at least once in the last 3 months. This is because the platform is charged for data access, so the data is only available for active traders.
Flint
Flint, a homegrown Wellington-based investment platform, offers around 100 managed funds. There are no platform fees, but there are fund fees. The minimum purchase is $50.
Flint is a good option for users looking for active and passive funds with a low minimum investment.
Flint offers long-term investments, so it mightn't be the best option if you're looking for short-term gains.
Hatch
Hatch is a US trading platform for trading US Shares and ETFs. The transaction fee is fixed at USD 3 and charges a 0.50% FX fee.
It doesn't offer the lowest trade fees or FX fees. However, despite being a US trading platform, the company behind Hatch is from Wellington, New Zealand.
The company deals in the US markets simply because of the market share (85% of global investing). Hatch allows people in New Zealand to invest in markets like the NYSE and the Nasdaq.
Signing up to Hatch is free and even offers a Getting Started Course, a must-watch for anyone completely new to trading.
Like any other platform, you'll need to verify your identity to open an account on Hatch. You can do this with a passport or New Zealand driver's licence.
InvestNow
InvestNow is an investment platform for ETFs, managed funds, and index funds. There are no platform fees, but there are management fees and a minimum purchase of $250.
InvestNow is another platform from Wellington. The platform is free to join and offers funds in New Zealand.
Kiwis can use InvestNow to invest in KiwiSaver, managed funds, and term deposits. While one-off investments start with a minimum purchase of $250, regular investment plans allow customers to invest a minimum of $50.
There are over 150 investment options, and users can sign up if they have a New Zealand IRD number and a New Zealand Bank account.
The investments with InvestNow are managed by 31 fund managers and 6 banks.
Jarden Direct
Jarden Direct, a platform based in Wellington, prioritizes regulatory compliance and robust security measures. This digital investment platform has access to markets in the United States, New Zealand, Australia, and the United Kingdom.
Users can trade shares, ETFs, and bonds.
The cash account settlement fee is $29.90 per trade up to $15,000, with a 0.20% fee for the portion of the trade value over $15,000. The fees differ for bank account settlement and direct debit settlement.
Kernel Wealth
Kernel Wealth is a trading platform for index funds. There's a $5 monthly membership fee if investing over $25,000 and a 0.25% p.a. (core funds management fee).
There are 23 index funds, a high-interest savings account, an online savings account, and a KiwiSaver plan. Access to the platform is free.
Sharesies
Sharesies is one of the best platforms for beginners and those interested in auto-investing. It offers a user-friendly interface and a wide range of investment options. Like many of New Zealand's other investment apps and platforms, Sharesies is from Wellington.
There's no minimum investment on Sharesies, and the platform offers access to share markets in New Zealand, the United States, and Australia.
With Sharesies, you can trade shares, ETFs, and managed funds. The minimum purchase is just 1 cent.
Simplicity Investment Funds
Simplicity Investment Funds, a good option for low-cost index funds, offers a range of investment strategies to suit different risk profiles. The minimum purchase is $1,000 per fund, and the management fee is 0.10% or 0.31% p.a.
Simplicity offers ten different funds, including diversified high-growth funds and single-sector funds.
Simplicity is also a bit different from some of the other options. It operates as a nonprofit, which is why it charges such low fees.
It's not recommended for aggressive investors but instead for long-term investors.
Smartshares
Smartshares, a platform for trading ETFs, charges between 0.33% and 0.75%. You can invest in companies from New Zealand and worldwide, as well as property, bonds, government debt, and emerging markets.
The minimum investment for SmartShares is $ 500, but the fees are much lower than in some places where you may pay closer to 3%.
Stake
Stake is a stock trading platform where you can buy and sell US stocks, ETFs, and OTCs. It offers comprehensive customer support and a wealth of educational resources. The fee is $3 per trade up to $30,000 or 0.01% per US trade over $30,000. There's also the 1% FX conversion fee and the regulatory fee.
Stake is good because it allows you to buy fractional shares and offers much lower FX and brokerage fees than some other options.
You can also use limit and stop orders to buy and sell shares; the app is highly recommended.
Superhero
Superhero, a trading platform for shares and ETFs in the United States and Australia, offers a diverse range of investment options. The transaction fee is $2 (in the native dollar, so USD for US shares and AUD for AU shares).
The company is based in Australia but allows for trades in the US and Australia.
The low fees make Superhero a very popular option. It's recommended for being easy to use and providing free market data to users. However, more advanced users may find Superhero lacking in comparison to other platforms.
This trading platform is recommended for beginners and those new to investing.
Tiger Brokers
The Tiger Brokers trading platform offers markets in the United States, Australia, Hong Kong, Singapore, and China.
Users can trade shares, ETFs, options, and futures with zero transaction fees on four US and Australian shares each month. Other fees vary according to the market and start at US$2.
Tiger Brokers is recommended for its low brokerage and currency conversion fees. It's also popular for the range of markets it offers. The app allows you to use it on your desktop or mobile.
It should be noted that Tiger Shares only offers fractional shares for the US market.
Learn More About Trading, Finance, and Economics with a Private Tutor
As you can see, there are many options for anyone wanting to trade, but the key to trading isn't which platform or app you use; it's making sound investments based on the best information and understanding you can get.
Many of these apps will provide some information on the markets, different cryptocurrencies like Bitcoin, and there are many other useful sources, but only if you understand what it all means.
If you want to learn more about trading, finance, or economics, we recommend using the Superprof website to find an experienced and qualified private tutor.
You can search for what you'd like to learn and browse tutors' profiles in and around New Zealand and worldwide.
Whether in Auckland, Hamilton, Wellington, or anywhere in New Zealand, you can find a tutor to help you understand the markets, KiwiSaver, investing in securities, or how finance and economics work.
Different types of tutoring are available, but the main types are face-to-face, online, and group tutoring. Like investment apps and platforms, each comes with some pros and cons.
Face-to-face tutoring typically offers the best educational experience. This experience comes at a cost, and most face-to-face tutors charge more than other tutors, but many will travel to their students and provide the most cost-effective type of tutoring.
Online tutoring can be cheaper than face-to-face tutoring since the tutor rarely travels anywhere and can schedule more sessions each week. As it costs them less to provide tutoring, they typically charge less. While online tutoring isn't ideal for some hands-on subjects and skills, it can be almost as effective as face-to-face tutoring for more academic subjects like trading, finance, and economics.
Last but not least, group tutoring provides an affordable alternative to one-on-one tutoring. If you and some friends, colleagues, or family want to work with a tutor, you can pay less by booking group sessions. With each attendee paying less, they typically work out far cheaper than face-to-face and online one-on-one tutoring sessions.
Most of the tutors on the Superprof site offer their first session for free, so try a few before choosing the one that's right for you.
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