Sharesies and Stake both offer NZ investors access to US shares and ETFs. If you’re choosing between the two for US investing, here’s a direct comparison.
Stake wins on US share investing — no brokerage on US trades (NZD deposits), lower ongoing platform fee, and a cleaner US-focused experience. Sharesies wins if you also want NZX shares, Australian shares, and NZ managed funds on a single platform. For pure US share investing in NZ, Stake is more cost-effective — but Tiger Brokers is even cheaper for frequent traders.
Side-by-Side Comparison
| Feature | Sharesies | Stake |
|---|---|---|
| US shares | ✅ Yes | ✅ Yes |
| NZX shares | ✅ Yes | ❌ No |
| ASX shares | ✅ Yes | ❌ No |
| NZ managed funds | ✅ Yes (100+) | ❌ No |
| Brokerage (US trades) | $3 USD/trade (under $3,000 NZD) | $0 (NZD deposits) |
| Platform fee | 0.50% p.a. | 0.10% p.a. |
| FX rate (NZD→USD) | ~0.50% spread | ~0.70% on deposit |
| FX rate (USD→NZD) | ~0.50% spread | ~0.70% on withdrawal |
| Minimum investment | $1 NZD | $5 NZD |
| Fractional shares | ✅ Yes | ✅ Yes |
| Dividend reinvestment | ✅ Auto | ✅ Auto |
| Mobile app | Good | Good |
| US market access | Via Drivewealth | Via Drivewealth |
| Investor protection | SIPC (US) | SIPC (US) |
| NZ FMA regulated | ✅ Yes | ✅ Yes |
Fee Comparison: US Share Investing
Small investor ($5,000 portfolio, buy once, hold)
| Platform | FX cost (buy) | Brokerage | Annual platform fee | Total year 1 cost |
|---|---|---|---|---|
| Stake | $35 (0.70%) | $0 | $5 (0.10%) | $40 |
| Sharesies | $25 (0.50%) | $0 (over $3k NZD threshold varies) | $25 (0.50%) | $50 |
| Tiger Brokers | ~$10 (0.20%) | $1.99 USD | ~$0 | ~$15 |
Larger investor ($50,000 portfolio, regular trading)
| Platform | Annual platform fee | FX (2 trades p.a.) | Total estimated annual cost |
|---|---|---|---|
| Stake | $50 (0.10%) | $700 (0.70% × 2 × $50k) | ~$750 |
| Sharesies | $250 (capped) | $500 (0.50% × 2 × $50k) | ~$750 |
| Tiger Brokers | ~$0 | $200 (0.20% × 2 × $50k) | ~$200 |
At larger balances, both Sharesies and Stake become similarly priced — Tiger Brokers wins on pure cost.
The FX Rate: Where the Real Cost Is
Both platforms make money on currency conversion. This is the largest cost for most buy-and-hold investors who only trade occasionally.
Stake: 0.70% spread on NZD deposits (which are immediately converted to USD). When you withdraw, another 0.70%.
Sharesies: ~0.50% spread when buying or selling US securities. The spread applies per transaction.
For infrequent investors (buy and hold): Stake’s 0.70% deposit FX is paid once upfront; you avoid per-trade FX if you’re holding long-term. Sharesies charges 0.50% each time you buy or sell.
For frequent traders: Tiger Brokers’ 0.20% FX is substantially cheaper.
Brokerage Fees: Stake Has the Edge
Stake charges $0 brokerage on US trades funded by NZD deposit conversion. This is Stake’s clearest win over Sharesies.
Sharesies charges:
- $0 for orders under NZD $1,000
- USD $3 for orders $1,000–$10,000 NZD
- USD $5 for orders over $10,000 NZD
For regular investors making monthly purchases, Sharesies’ $3/trade adds up. At $200/month investment, that’s $36/year just in brokerage.
Platform Fee: Stake Wins
| Platform | Annual platform fee |
|---|---|
| Stake | 0.10% p.a. (capped at $900 AUD for AU/US stocks — very large portfolios) |
| Sharesies | 0.50% p.a. (capped at $250 NZD/year after $50,000) |
On a $20,000 US share portfolio:
- Stake: $20 / year
- Sharesies: $100 / year
The Sharesies $250 cap makes it competitive at $50,000+ — but Stake’s 0.10% is still lower up to very large balances.
When to Choose Sharesies
- You want NZX shares, ASX shares, and US shares all in one app
- You already use Sharesies for NZ managed funds
- Your US share portfolio is relatively small (under $10,000) and you trade infrequently
- You want the widest investment universe on one platform
When to Choose Stake
- Your primary focus is US shares or ETFs and you don’t need NZX access
- You value $0 brokerage over FX savings
- You want a lower annual platform fee on a mid-size US portfolio
- You want a clean, US-focused experience
When to Choose Tiger Brokers Instead
- You trade more frequently (lowest FX rate at 0.20%)
- Your US portfolio is large ($50,000+) — Tiger’s costs scale best
- You want access to US options or margin trading
→ See: Tiger Brokers NZ Review 2026 → See: Best Platform for US Stocks NZ 2026
FIF Tax: Applies to Both
If your total overseas share portfolio exceeds NZD $50,000 cost price, the Fair Dividend Rate (FDR) method of FIF tax applies. This is the same regardless of whether you use Stake or Sharesies.
At FDR: 5% × opening value × your marginal tax rate annually.
At 33% marginal rate: approximately 1.65% per year on the opening value — regardless of whether the shares rose or fell.
This is the primary reason most NZ investors above $50,000 prefer NZ PIE managed funds over direct US ETFs.
→ See: FIF Tax NZ — Full Guide
Verdict
| Decision | Winner |
|---|---|
| Lower brokerage | Stake |
| Lower platform fee | Stake |
| Lower FX rate | Neither (Tiger wins) |
| NZX + ASX + US access | Sharesies |
| Pure US focus | Stake |
| Largest portfolio, frequent trading | Tiger Brokers |
For a NZ investor who wants US shares only and trades less than monthly: Stake is the better choice. For an investor wanting everything on one platform: Sharesies. For lowest total cost: Tiger Brokers.