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Are you looking for the best online brokers in New Zealand? Thanks to the rise of online share trading platforms in the past couple of decades, it’s now easier than ever to buy shares online or on your mobile phone.
But with so many options to choose from, you’ll want to make sure you’re picking the right one for you. Our guide covers everything you should consider when comparing investment apps, including fees, trading options and support features.
There are plenty of things you’ll need to consider when looking at different platforms, however it all comes down to how you’re intending to use it. Ask yourself, do you want to buy New Zealand shares or are global shares important too? And do you consider yourself to be a beginner or an advanced investor?
Your answers will help you to decide which share trading platform will benefit you the most. Here are some of the key features to look at when comparing online share trading platforms:
How can you choose a share trading platform that’s right for you? Ask yourself the following questions:
There are two main fees that commonly apply when you use online share trading platforms:
Brokerage fees vary greatly between providers but typically start at around the $15 to $30 range. For large transactions, fees of around 0.3% and up usually apply. If you’re planning on making lots of trades, you’ll want to keep an eye out for a platform that offers low per-trade fees.
Some providers will not charge any monthly fees at all. However, more advanced trading platforms and those that offer premium services will often charge a monthly fee. A number of brokers will waive this fee if you perform more than a certain number of trades each month.
Finally, remember that many brokers offer different membership levels – for example gold, silver and platinum – which offer different features and therefore attract varying fees.
The table below contains details of the fees charged by a selection of share trading platforms and accounts in New Zealand. Keep in mind that some of these platforms are geared towards casual investors while others are designed for experienced investors.
Platform | Fees | Investment types |
---|---|---|
ASB Securities | Shares, ETFs (New Zealand securities):
Shares, ETFs (Australian securities):
Fixed interest:
|
|
Direct Broking | NZ-listed securities (excluding debt securities):
Australian-listed securities (excluding debt securities):
Debt securities:
|
|
Hatch |
|
|
Invest Now |
|
|
Sharesies |
Other fees:
|
|
Smartshares |
|
|
Stake |
|
|
Once you’ve found the right online share trading platform, it’s quick and easy to apply for an account. If the platform is run by your bank and you already have an internet banking account, there’s often very little you have to do except deposit funds into your share trading account and start placing orders.
If you’re signing up for an account with a new provider, however, you’ll generally need to provide the following details:
Once you’ve deposited funds into your account – a minimum deposit amount may apply – you’re ready to start trading.
Once you’ve found a share trading platform and you’re ready to start investing, it’s actually quite easy to get started buying and selling shares. Read our guide on how to buy shares online here for a step-by-step guide to buying shares.
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