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.
In both cost examples below, Stake costs less than Sharesies for US shares: Stake charges a 0.3% FX fee once when you deposit (and again when you withdraw), then you trade inside your USD wallet for $3 USD/trade with no further conversion cost, while Sharesies charges its 0.5% FX fee on every trade. Only Sharesies also offers NZX shares, Australian shares, and NZ managed funds on one platform. Of the three platforms compared here, Stake's 0.3% is the lowest FX rate, with Tiger Brokers at ~0.35%. Which costs least for you depends on how often you trade and which markets you want.
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) | 1.9% per trade, capped at USD $5 | $3 USD/trade (0.01% for orders ≥ USD $30,000) |
| Ongoing platform fee | None (optional $3/$7/$15 monthly plans available) | None (optional Stake Black, $15 NZD/month) |
| FX fee | 0.5%, charged on each foreign-currency trade | 0.3% (no minimum fee), charged once on NZD↔USD deposit/withdrawal, not per trade |
| Minimum investment | ~$1 NZD | NZ$1 minimum deposit |
| Fractional shares | ✅ Yes | ✅ Yes |
| Dividend reinvestment | ✅ Auto | ✅ Auto |
| Mobile app | ✅ Yes | ✅ Yes |
| US market access | Via Drivewealth | Via Drivewealth |
| Investor protection | SIPC (US) | SIPC (US) |
| NZ FMA regulated | ✅ Yes | ✅ Yes |
Sharesies’ 1.9% brokerage is capped at $25 NZD for NZX trades and $15 AUD for ASX trades — the $5 USD cap above applies to US trades specifically. Stake also offers a paid Stake Black plan ($15 NZD/month or $156 NZD/year) with research tools (analyst ratings, price targets, extended financials) — it does not waive any trading fees.
Fee Comparison: US Share Investing
Figures below are approximate NZD costs, using an illustrative NZD→USD rate of ~0.57, current brokerage/FX rates from each platform’s own pricing page, and no ongoing platform fee (none of these three platforms charges one any more).
Single buy-and-hold ($5,000 NZD, one purchase)
| Platform | FX cost | Brokerage | Total cost |
|---|---|---|---|
| Sharesies | $25 (0.5%) | ~$9 (1.9%, capped at USD $5) | ~$34 |
| Stake | $15 (0.3%) | ~$5 (USD $3 flat) | ~$20 |
| Tiger Brokers | ~$18 (0.35%) | ~$4 (USD $2 flat) | ~$21 |
Frequent trader ($50,000 NZD deployed across two separate trades in the year)
| Platform | FX cost | Brokerage (2 trades) | Total cost |
|---|---|---|---|
| Sharesies | $250 (0.5% charged on each of the 2 trades) | ~$18 (1.9% capped at USD $5 each) | ~$268 |
| Stake | $150 (0.3%, charged once per deposit, not per trade) | ~$11 (2 × USD $3) | ~$161 |
| Tiger Brokers | ~$175 (0.35%) | ~$7 (2 × USD $2) | ~$182 |
Sharesies charges its 0.5% FX fee on every foreign-currency trade, so its total FX drag scales with the number of trades. Stake’s 0.3% FX fee is paid once per NZD→USD deposit (and again on withdrawal), so it doesn’t compound with trading frequency: the more trades funded from a single deposit, the better Stake compares. In these examples Stake’s total is the lowest of the three in both scenarios, with Tiger Brokers about $1 more on the single purchase.
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: 0.3% fee on NZD deposits, which are immediately converted to USD, with no minimum FX fee. When you withdraw, another 0.3% (the minimum withdrawal is US$10, and Stake charges no withdrawal fee). Once your money is in your USD wallet, buying and selling US shares triggers no further FX charge.
Sharesies: 0.5% currency exchange fee applied on each foreign-currency transaction — so it’s charged again every time you buy or sell a US (or Australian) holding, not just once.
For infrequent investors (buy and hold): Stake’s single 0.3% deposit fee is lower than Sharesies’ 0.5%, and in the $5,000 example Stake’s total is also lower after brokerage (~$20 against ~$34).
For frequent traders: Stake’s advantage grows with trading frequency, because its 0.3% is paid once per deposit rather than on every trade. Tiger Brokers’ FX rate (~0.35%) sits between the two, and it also offers $0 FX on the first $2,000/month for new clients.
Brokerage Fees
Neither platform charges $0 brokerage any more:
Stake charges $3 USD per trade (0.01% of trade value instead, once a single order exceeds USD $30,000).
Sharesies charges 1.9% per trade, capped at USD $5 for US trades (the caps are USD $5 for US shares, NZD $25 for NZX shares, and AUD $15 for ASX shares). Sharesies also offers optional $3/$7/$15-per-month subscription plans that raise the dollar amount you can trade brokerage-free each month.
For most individual US trades, Sharesies’ capped 1.9% brokerage works out similar to or cheaper than Stake’s flat $3 USD once converted to NZD — the bigger cost differentiator between the two platforms is the FX fee, not brokerage.
Ongoing Platform Fee: Neither Charges One
Both platforms have moved away from asset-based annual platform fees. Sharesies now earns its ongoing revenue through its per-trade brokerage (with optional paid subscription tiers), and Stake through its per-trade brokerage plus the optional Stake Black subscription ($15 NZD/month) for research tools. Neither charges a percentage-of-portfolio holding fee, so this is no longer a point of difference between them.
Sharesies’ Features
- NZX shares, ASX shares, and US shares all in one app
- NZ managed funds in the same account
- The wider investment universe of the two
Stake’s Features
- US shares and ETFs as the main focus (no NZX access)
- 0.3% FX charged once on deposit or withdrawal, not on every trade
- NZ$1 minimum deposit
- $3 USD brokerage per trade
How Tiger Brokers Compares
- FX rate of ~0.35%, with $0 FX on the first $2,000/month for new clients
- Access to US options and margin trading
→ See: Tiger Brokers NZ Review 2026 → See: Platforms 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
Summary
| Comparison | Lower cost or feature |
|---|---|
| Cheaper for a single buy-and-hold purchase (example above) | Stake |
| Cheaper for frequent US trading (example above) | Stake |
| Lowest FX rate of the three | Stake (0.3%; Tiger Brokers ~0.35%, Sharesies 0.5%) |
| NZX + ASX + US access | Sharesies |
| US-only focus | Stake |
Stake’s 0.3% FX fee is paid once per deposit rather than on every trade, so its cost advantage over Sharesies grows the more often you trade. Sharesies charges 0.5% FX on each trade, and it is the one of the two with NZX, ASX and managed funds on one platform. Which suits you depends on how often you trade and which markets you want.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- Sorted Smart Investor: compares fees, returns and risk levels of KiwiSaver and managed funds.
- Disclose register: holds each fund's product disclosure statement and quarterly fund updates.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.