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Hatch Review: Easy access to US shares
Want to buy shares in some of the world's biggest brands? Maybe Hatch can help.
Hatch is an online share trading platform operated by Kiwi Wealth. Its goal is to make it easy and affordable for New Zealanders to invest in US-based companies.
This review walks through what exactly you can do with Hatch, how much it costs, what kind of protections you have as an investor on the platform and how it all works.
What can I invest in with Hatch?
People with Hatch accounts can invest in a wide range of US-listed shares. You can buy shares in individual companies, as well as exchange-traded funds, that are listed on US stock exchanges.
Hatch offers shares in more than 2,900 individual companies, such as Amazon, Tesla and Disney and more than 500 exchange traded funds, which includes stock indexes such as the Vanguard S&P500, as well as tech, gold and green ETFs, to name a few.
Between its available stocks and ETFs, Hatch offers access to a very wide range of investments.
How much does Hatch cost?
|The fee||How much it is||When it’s charged|
|Brokerage fee||US$3 for orders of up to 300 shares|
US$0.01 per share for orders of more than 300 shares
|When you buy or sell shares on Hatch|
|Currency conversion cost||0.5% above mid-market rate||When you deposit NZD on Hatch to be converted to US dollars|
|US tax filing fee||US$1.50 + $0.50 per year||A one-off charge taken out of your first deposit, plus 50 cents per year|
The brokerage fee and the currency conversion cost are shown to you before you make a transaction, while the small US tax filing fee is automatically deducted.
There are no account-keeping fees, maintenance fees or other costs.
Hatch takes care of US tax obligations for its users and provides the all the information needed to complete NZ tax forms at tax time.
Is Hatch safe?
Because Hatch is about investing in US shares from New Zealand, there’s a lot happening behind the scenes. All of it appears to be done through well-regulated and well-known companies.
Hatch is Kiwi Wealth’s digital investing platform. Kiwi Wealth is a registered on the New Zealand financial service providers register and is a member of the Financial Service Ombudsman dispute resolution scheme.
As such, the service is regulated and disputes can be escalated to the ombudsman if necessary.
On the US side, Hatch uses a broker called DriveWealth. It’s a registered broker dealer in the United States as well as a member of the FINRA and SIPC investor protection organisations. Shares you buy through Hatch will be custodied by Citibank under DriveWealth’s name.
In the unlikely event of DriveWealth failing, its SIPC membership and status as a registered broker-dealer means its customers, such as Hatch investors, will have their holdings safely transferred to another broker rather than lost to liquidation proceedings.
Hatch has a dedicated New Zealand-based team to answer any questions and to support investors between 7am – 7pm.
How do I sign up to Hatch?
Signing up for a Hatch account can be done in a few minutes.
- Go to the Hatch website
- Click the “get started” button on the home page, or the “sign in” button on the top right
- Enter your email address and choose a password for your Hatch account
- Confirm your email address
- Sign into your Hatch account and fill out a brief questionnaire to verify your identity. You will need to have a passport (New Zealand foreign) or a NZ driver’s license handy for this step.
At the moment you must be at least 18 years old to open an account with Hatch, but they will be launching portfolios for kids in July.
Once you’ve verified your identity, you can make a deposit, browse the markets and invest in US shares on Hatch.