New Zealand investors are well-served in 2026. Multiple regulated, low-cost platforms compete for your business — but “best” depends entirely on what you want to invest in and how you invest. This guide breaks it down.
Index fund investing: InvestNow (lowest fees) or Kernel (better app). NZX/ASX/US shares: Sharesies. US stocks low-cost: Tiger Brokers or Stake. Beginners: Kernel or Sharesies. Portfolio tracking: Sharesight. Most serious investors end up using 2–3 platforms for different purposes.
Full Platform Comparison
| Platform | Platform fee | Transaction fee | Shares | Funds | Min | Best for |
|---|---|---|---|---|---|---|
| InvestNow | $0 | $0 | ❌ | 100+ | $250 | Low-cost index funds |
| Kernel | $0 | $0 | ❌ | ~10 | $1 | Index funds + good app |
| Sharesies | 0.5% p.a. (max $250/yr) | 0.5% NZX; $3 US | ✅ NZX/ASX/US | Some | $1 | NZ/AU/US shares |
| Hatch | $0 | $3/trade | ✅ US/AU | ❌ | $1 | US and AU shares |
| Stake | $0 | $3/trade | ✅ US | ❌ | $0.01 | US stocks, USD wallet |
| Tiger Brokers | $0 | 0.1% NZX (min $2); from USD$1.99 US | ✅ NZX/US/HK | ❌ | $1 | Low-cost NZX + US trading |
| Smartshares | $0 | $0 (regular plan) | ✅ NZX ETFs | ✅ | $50/mo | NZX ETFs (buy-and-hold) |
| Simplicity | $0 | $0 | ❌ | Simplicity only | $1,000 | Ultra-low fee funds |
Best Platform by Category
Best for index fund investing: InvestNow
Why: Zero platform fee, zero transaction fees, and the Vanguard Foundation Series from 0.20% p.a. — the cheapest global index fund exposure in NZ. Access to 100+ funds from different managers.
Downside: Basic interface, no mobile app to match Kernel or Sharesies, minimum $250 lump sum.
Best app and index fund experience: Kernel
Why: Same $0 platform fee as InvestNow, 0.25% fund fees, but a far better app and auto-invest experience. KiwiSaver available in the same account. Clean fund explanations.
Downside: Only Kernel’s own ~10 funds — no access to Vanguard, Nikko, Harbour, or other managers. Slightly pricier than InvestNow Foundation Series.
Best for NZX shares: Sharesies
Why: Most NZ investors who want to own individual NZX shares use Sharesies. Large member community, fractional shares from $1, good company research tools, and the most user-friendly app for stock picking.
Downside: 0.5% platform fee on portfolios up to $50k; 0.5% per NZX trade (Tiger Brokers is cheaper for frequent traders).
Best for US stocks (low cost): Tiger Brokers
Why: Tiger Brokers offers US stock trading from USD$1.99 per trade — significantly cheaper than Sharesies ($3 + 0.4% FX) for active traders. Also offers NZX trading at 0.1% (min $2). Regulated by the FMA.
Downside: Less polished than Sharesies; more suited to investors who are comfortable with a slightly more complex interface. Relatively new to NZ.
→ Tiger Brokers NZ Review 2026
Best for US stocks (simplicity): Hatch or Stake
Why: Both offer straightforward access to US-listed shares and ETFs. Hatch (owned by Fisher Funds) is the more established NZ operator. Stake offers a USD wallet that avoids repeated FX conversions.
Downside: Both charge $3/trade and ~0.5–0.7% FX. For very frequent traders, Tiger Brokers or Interactive Brokers is cheaper.
→ Hatch Review NZ 2026 · Stake NZ Review 2026
Best for beginners: Kernel
Why: $1 minimum, $0 platform fee, clear fund explanations, good app, auto-invest from the first session. The Kernel High Growth Fund is an excellent one-fund starting point.
Runner-up: Sharesies — more features and more engaging, but the platform fee on small balances and the breadth of choices can overwhelm new investors.
→ Best Platform for Beginners NZ 2026
Best for portfolio tracking: Sharesight
Why: Sharesight aggregates investments across multiple platforms into one dashboard, calculates performance, tracks dividends, and generates IRD-ready tax reports (including FIF reports for foreign investments). Not an investing platform — a tracking layer on top.
What Most Investors Actually Do
The typical serious NZ investor in 2026 uses two platforms:
- InvestNow or Kernel for regular index fund contributions (the bulk of their investing)
- Sharesies or Tiger Brokers for individual share trades (a smaller portion)
Some add Sharesight as a portfolio tracker that pulls together all their investments. KiwiSaver is managed separately through their KiwiSaver provider.
Platform Safety
All platforms listed above are FMA-licensed and use custodial structures that ring-fence your investments from the platform’s own assets. No NZ investor has lost invested funds due to a platform failure. See What Happens If an Investment Platform Goes Bust NZ?
Tax Across Platforms
Whichever platform you use, you need to set your correct PIR rate for PIE funds. For US shares held directly, understand FIF tax before your overseas holdings exceed $50,000. Sharesight can generate FIF reports across all your accounts.
Frequently Asked Questions
Can I use multiple platforms at the same time? Yes — and many investors do. There’s no limit on how many FMA-licensed investment platforms you can use. Each platform operates independently; you just need to set your PIR on each one.
Which platform has the most users? Sharesies has 700,000+ members. InvestNow and Kernel don’t publicly disclose member numbers but are significantly smaller by user count.
Is Simplicity worth considering? Yes — Simplicity’s investment funds have some of the lowest fees in NZ (around 0.10% p.a.). The $1,000 minimum is higher than Kernel or Sharesies, but for a lump-sum investor, the fee saving is real. Their investment funds are separate from their KiwiSaver.
Summary
| Goal | Platform |
|---|---|
| Lowest-cost index funds | InvestNow (Foundation Series) |
| Best index fund app | Kernel |
| NZX/ASX/US shares | Sharesies |
| Low-cost US stock trading | Tiger Brokers |
| Portfolio tracking | Sharesight |
| KiwiSaver + investments | Kernel |