These days you don’t need to be sitting at a desk to buy and sell stocks. Thanks to the growing number of stock trading apps, investors in New Zealand can find the best share trading app for themselves and invest from anywhere there’s an Internet connection.
Stock trading apps allow you to trade shares directly on New Zealand’s Exchange (NZX) and other international markets through your smartphone. Not all online brokers in New Zealand have a mobile version of their platform and some mobile trading apps don’t offer desktop access.
So to make it easier, we’ve sourced a list of the most popular mobile apps for stock trading available in New Zealand in 2022.
The list of apps featured is the most popular share trading apps in terms of daily downloads by Kiwi iPhone and Android users as of 13 July 2022. The list itself was sourced from Sensor Tower and Google Play rankings, and is not in any particular order.
We’ll take a look at these share trading apps in more detail in this guide.
This user-friendly stock trading game app lets you practice trading stocks, forex and other assets. It has a stock trading simulator with real-time charts and analytics that allows you to practice trading while building your investing knowledge.
This app is free.
With dozens of brokers in New Zealand, it’s not easy to work out which is the best stock trading app for you.
The best stock trading app in New Zealand for beginners is going to be very different from a platform that suits active or professional traders. Meanwhile, somebody that wants to invest in stocks and ETFs may have no interest in currencies trading or international markets.
The fees can also change depending on how often you trade in a month, a quarter or a year. In fact, recent Finder research found that the average stock trader could save approximately US$1,048 in brokerage fees a year by switching to a more suitable trading account (calculated on 7 trades per month of US$1,000).
It may even save money to have more than 1 platform. For example, you could have 1 app to trade US stocks, 1 for European stocks and another for currency markets.
There are many different kinds of share traders. Once you know which category you fall into, you’ll be able to more easily pick the right trading account for you. For example, there are casual traders, active traders and long-term investors.
The category you fall into will influence the features you’re looking for in the best stock trading app for you. From the ease of use of the system through to the market research information available, it’s important that the platform complements your trading needs.
Ask yourself the following questions to figure out your trading style:
If you buy or sell stocks once or twice a month (or even less), you’re a casual investor. You may want to avoid brokers that have an inactivity fee or charge higher broker fees for less frequent trades.
If you intend to buy and sell stocks multiple times in a day, you’re an active trader. The best share trading app for you could be one that offers low brokerage for high-frequency trading and an extensive range of trading features, such as charting tools and order options.
Traders try to make money from stock price movements by buying and selling stocks frequently – often several times in a day or week.
Investors use the “buy and hold” strategy by targeting quality companies they think will rise over a long time frame and possibly offer dividends. They may only buy and sell a few times in a year. Investors may find the inactivity fee more important than a stock analysis feature.
For traders, a low brokerage fee and advanced features are key. They might find the stock analysis feature more important than an inactivity fee.
Will you be placing all your trades online, via a mobile app or over the phone? Make sure the trading account offers your preferred choice and check the fees.
Do you want to trade NZ stocks, European stocks, US stocks or other international markets? Some trading apps in New Zealand also offer other markets such as global currencies and cryptocurrencies. Depending on what your priorities are, you may wish to get a trading account that offers all of the above or several different brokers – 1 for each market.
Do you intend to invest 1 lump sum of thousands of dollars into the stock market or would you prefer to make several small trades of a few hundred dollars? Trading account fees sometimes differ depending on the amount you’re buying and selling per month, per year or by trade.
There are plenty of things you’ll need to consider when looking for the best stock trading app. Of course, it all comes down to how you’re intending to use it.
Here are some of the key features to look at when comparing share trading apps in New Zealand:
There are 3 main fees that commonly apply when you use a trading account – brokerage fees, monthly fees and foreign exchange fees if you trade global stocks.
Brokerage fees vary greatly between providers but typically start at around the $15 to $30 range. For large transactions, other fees may 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 share trading apps will not charge any monthly fees at all. However, more advanced trading platforms and those that offer premium services can charge a monthly fee or subscription fee.
Finally, remember that many brokers offer different membership levels – for example, gold, silver and platinum – which offer different features and so they attract varying fees.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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