New Zealanders have more options than ever for investing in US shares in 2026. Five platforms compete meaningfully for this business — each with different fee structures and strengths. The right choice depends on how often you trade and how much you invest.
Buy-and-hold, occasional investor: Hatch or Sharesies — simple, NZ-owned, SIPC-protected. Frequent trader: Tiger Brokers (cheapest brokerage + lowest FX). Active US trader who wants USD wallet: Stake. Large portfolio, sophisticated: Interactive Brokers (lowest all-in costs). Only NZ-domiciled funds (no FIF): InvestNow Foundation Series.
Full Comparison
| Platform | Brokerage | FX fee | Platform fee | NZX | ASX | NZ-owned | SIPC |
|---|---|---|---|---|---|---|---|
| Hatch | $3 NZD | ~0.50% | $0 | ❌ | ✅ | ✅ (Fisher Funds) | ✅ |
| Stake | $3 NZD | 0.70% deposit (then $0) | $0 | ❌ | ❌ | ❌ (Australian) | ✅ |
| Sharesies | $3 NZD | 0.40% per trade | 0.50% p.a. (max $250) | ✅ | ✅ | ✅ | ✅ |
| Tiger Brokers | From USD$1.99 | ~0.20% | $0 | ✅ | ❌ | ❌ (Singapore) | Confirm PDS |
| Interactive Brokers | USD$0.005/share (min $1) | ~0.002% | $0–$10/month | ❌ | ✅ | ❌ (US) | ✅ USD$500k |
True Cost by Trading Frequency
This is the number that actually matters. The cheapest platform depends entirely on how often you buy and sell.
Scenario A — Buy-and-hold: $10,000 invested, 2 trades/year
| Platform | FX (buy + sell) | Brokerage | Platform fee | Total cost |
|---|---|---|---|---|
| Hatch | $100 | $6 | $0 | $106 |
| Stake | $140 | $6 | $0 | $146 |
| Sharesies | $80 | $6 | $50 (0.5% p.a.) | $136 |
| Tiger Brokers | $40 | ~$8 | $0 | $48 |
| Interactive Brokers | ~$2 | ~$5 | $0 | $7 |
Scenario B — Active trader: $10,000 invested, 24 trades/year
| Platform | FX (buy + sell × 12 round trips) | Brokerage | Platform fee | Total cost |
|---|---|---|---|---|
| Hatch | $1,200 | $72 | $0 | $1,272 |
| Stake | $140 (once only) | $72 | $0 | $212 |
| Sharesies | $960 | $72 | $50 | $1,082 |
| Tiger Brokers | $480 | ~$96 | $0 | $576 |
| Interactive Brokers | ~$24 | ~$60 | $0 | $84 |
Approximate figures. FX calculated on $10,000 notional per trade pair.
The takeaway: For active traders, Stake’s USD wallet model and Interactive Brokers’ near-zero FX are decisive. For buy-and-hold investors, Hatch and Tiger Brokers are competitive. Sharesies becomes expensive relative to alternatives at any meaningful trading volume.
Platform Deep-Dives
Hatch — Best for NZ-owned buy-and-hold
Owned by Fisher Funds. NZ-based support. SIPC protection confirmed via Drivewealth. Access to US and ASX. Simple $3/trade model.
Best for: Investors who want NZ-owned, FMA-regulated access to US markets with minimal complexity.
Stake — Best for frequent US traders
Australian platform with NZ FMA licence. USD wallet eliminates per-trade FX — you convert once and trade freely in USD. $3/trade standard; $0 on some US ETFs on premium plan.
Best for: Investors who buy and sell US shares at least monthly.
Tiger Brokers — Best value overall (brokerage + FX combined)
Singapore-founded, NZ FMA-licensed. USD$1.99 minimum per US trade; ~0.20% FX — the lowest FX rate of NZ-accessible platforms. Also covers NZX and HK markets.
Best for: Cost-conscious active investors in US and NZX markets.
→ Tiger Brokers NZ Review 2026
Sharesies — Best when you also want NZX access
The most established NZ platform. US stock access via Drivewealth/SIPC. Also provides NZX and ASX — useful if you want one platform for all markets. Platform fee becomes expensive at high balances vs competitors.
Best for: Investors who want a single platform for NZX + US + ASX shares and prefer the Sharesies app.
Interactive Brokers — Best for large or sophisticated investors
US-based global broker with NZ access. Near-zero FX costs (0.002%) and sub-USD$2 US trades make it the cheapest option by far at scale. But the interface is complex and designed for professional or experienced investors.
Best for: Investors with USD$50,000+ who want to minimise all-in costs and are comfortable with a professional trading interface.
→ Interactive Brokers NZ Review 2026
The FIF Consideration
Whichever platform you use for US shares, be aware of the $50,000 FIF threshold. Once your total overseas investment cost price exceeds $50,000 (across all platforms combined), FIF rules apply and you must file a FIF return.
Alternative: Buy global exposure via NZ-domiciled PIE funds (InvestNow Foundation Series, Kernel Global 100) and avoid FIF entirely. The trade-off is slightly higher fees and no access to specific US stocks.
Should You Use NZ PIE Funds Instead?
For most NZ investors whose goal is market exposure rather than specific company ownership, NZ-domiciled PIE funds beat direct US share holding on three dimensions:
- Tax simplicity — no FIF, no withholding tax complexity
- Lower effective cost — InvestNow Foundation Series at 0.20% vs FX + brokerage on direct shares
- PIR capping — maximum 28% tax rate, even for high earners
The trade-off: no ability to pick individual companies, and no access to the full range of US-listed ETFs.
Verdict by Investor Type
| Investor type | Best platform |
|---|---|
| Index fund exposure only | InvestNow Foundation Series (no FIF, 0.20% fee) |
| Buy-and-hold individual US stocks | Hatch (NZ-owned, SIPC, simple) |
| Active US trader | Stake (USD wallet) or Tiger Brokers (lowest fees) |
| NZX + US in one platform | Sharesies |
| Large portfolio, cost-focused | Interactive Brokers |
Next Steps
- Hatch Review NZ 2026
- Stake NZ Review 2026
- Tiger Brokers NZ Review 2026
- FIF Tax NZ — When It Applies
- Sharesight Review NZ 2026 — Portfolio tracking and FIF reports
- Back to Platform Reviews