Hatch
Hatch allows Kiwis to access US share markets through a partnership with DriveWealth.
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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.
Fees and pricing structures differ slightly between each of these platforms, so let’s examine them one by one.
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.
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.
You’ll need to pay the following fees when trading via Sharesies:
The fee | How much it is |
---|---|
Subscription fee | Sharesies no longer charges monthly or annual subscription fees. |
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. |
What products can you buy and sell through these three platforms, and on which stock exchanges? Let’s take a closer look.
The other important factor you’ll need to consider when choosing an online investing platform is the range of features on offer.
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.
Hatch allows Kiwis to access US share markets through a partnership with DriveWealth.
Stake aims to provide US stock market access to investors and traders in NZ and around the world. Established in 2017, it accesses US brokerage and execution services through DriveWealth.
Sharesies is an online investment platform that provides investors with access to over 8,000 companies and funds in NZ, the US and AU.
Read the full Sharesies review.
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