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Stake, Hatch or Sharesies – which is best for US stocks?
We crunch the numbers to find out which online investing platform is the best choice for Kiwis who want to trade US stocks.
Stake, Hatch and Sharesies are three popular online investing platforms. All three of these platforms allow you to trade US stocks and ETFs on the US stock market, providing access to exchanges like the New York Stock Exchange and the NASDAQ.
In this guide, we’ll take a closer look at the pricing, available markets and key features of Stake, Hatch and Sharesies to help you choose the best platform for trading US stocks.
Hatch vs Sharesies vs Stake: How much does it cost to invest?
Fees and pricing structures differ slightly between each of these platforms, so let’s examine them one by one.
Stake
Stake doesn’t charge any brokerage fees. However, you will need to consider the following charges:
| The fee | How much it is |
|---|---|
| Exchange fee | 1% (US$2 minimum fee). This fee applies when you deposit to or withdraw from your account. If you already have USD you want to deposit into your Stake account, a flat US$5 fee applies. |
| US Tax filing fee | US$5. This fee covers the cost of filing your W-8BEN tax form. |
Stake also offers the opportunity to upgrade to a premium paid plan for US$9/month. This provides access to features like in-depth financial data and analyst ratings, but was available for free as part of a limited-time offer at time of writing.
Hatch
There are three fees you’ll need to consider with Hatch:
| The fee | How much it is |
|---|---|
| Brokerage fee | US$3 when buying or selling up to 300 shares (US$0.01 a share after that). This fee applies whenever you buy or sell shares. |
| Exchange fee | 0.5%. You’ll need to pay this fee to convert NZD to USD when you deposit money into your account, and when you convert back to NZD to make a withdrawal to your bank account. |
| US tax filing fee | One-off US$1.50 and annual US$0.50 fee. This charge covers the cost of your W-8BEN tax form and annual US tax filing. |
There are no ongoing or monthly membership fees.
Sharesies
You’ll need to pay the following fees when trading via Sharesies:
| The fee | How much it is |
|---|---|
| Subscription fee | $30/year for portfolio value over $50. There’s also the option of a monthly subscription, priced as follows:
|
| Exchange fee | 0.4%. This fee applies when you convert NZD into USD and vice versa. |
| Transaction fee | 0.5% for orders up to $3,000 + 0.1% for amounts above $3,000. This fee is charged in USD whenever you buy or sell US stocks or ETFs. |
Open an account with Stake
Hatch vs Sharesies vs Stake: Available markets and products
What products can you buy and sell through these three platforms, and on which stock exchanges? Let’s take a closer look.
| Platform | Available markets |
|---|---|
Hatch | Hatch provides access to over 2,900 companies and more than 500 ETFs listed on US share markets. Hatch account holders can buy and sell stocks listed on the New York Stock Exchange and the NASDAQ. |
Sharesies | Sharesies lets you buy and sell shares and ETFs on the New York Stock Exchange, the NASDAQ and the Chicago Board Options Exchange. It provides access to a total of more than 2,300 US companies, and allows you to trade on the NZX as well. Finally, Sharesies also allows you to invest in a small number of managed funds. |
| Stake
| Stake allows you to trade over 3,700 US stocks and ETFs. It provides access to exchanges such as the New York Stock Exchange and the NASDAQ, while you can also access over 200 ADRs (American Depository Receipts) of global companies. |
Hatch vs Sharesies vs Stake: Features
The other important factor you’ll need to consider when choosing an online investing platform is the range of features on offer.
| Platform | Features |
|---|---|
| Hatch |
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| Sharesies |
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Stake |
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About the contenders
Bottom line
In terms of pricing, it’s hard to pick a clear winner in the Hatch vs Sharesies vs Stake battle. Different pricing structures mean the most affordable choice for you will depend on factors like how often you trade, the size of your trades, and your deposit and withdrawal amounts. Consider your investment goals and then crunch the numbers to work out which platform will be cheapest.
Otherwise, each platform has its own pros and cons. Hatch and Stake both offer access to a wide range of US stocks and ETFs, while Sharesies provides the added bonus of being able to invest in the NZX too. The right platform for your needs will depend on what you want to trade and which service is the most user-friendly.
Ultimately, you’ll need to compare Hatch, Stake and Sharesies side by side before making your final decision. You can sign up for a free account with all three, so this may be the best way to determine which platform you like best.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs comes with a higher risk of losing money rapidly due to leverage. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
