Compare Investing & Brokerage in New Zealand

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What is investing in New Zealand?

Investing means putting money into assets — shares, exchange-traded funds (ETFs), managed funds, bonds or property — with the aim of growing it over time. In New Zealand, retail investing has boomed thanks to low-cost online platforms that let anyone start with small amounts, buying into the local NZX market, Australian shares and, popularly, US and global stocks and ETFs. A distinctive feature of the New Zealand landscape is the absence of a general capital gains tax, though tax still applies to some investments through dividends and the foreign-investment (FIF) rules on overseas holdings.

How the New Zealand market works

Kiwis invest through app-based brokers and platforms such as Sharesies, Hatch, InvestNow and Tiger Brokers, as well as traditional broker and bank offerings from ANZ, ASB, BNZ and Westpac. Sharesies and InvestNow have popularised fractional shares and low-minimum fund investing; Hatch and Tiger focus on US and global markets. Beyond direct shares, many New Zealanders invest via KiwiSaver and managed funds. The New Zealand market is small (the NZX), so most diversified investors also hold significant Australian, US and international exposure through ETFs and funds.

Benefits

Low barriers to entry — Platforms allow fractional shares and small starting amounts, so you can begin with a few dollars.

Global access — Easily invest beyond the small NZX into Australian, US and global shares and ETFs.

No general capital gains tax — New Zealand has no broad capital gains tax, though specific rules apply to some holdings.

Long-term growth — Diversified investing historically outpaces cash savings over long horizons.

How to choose

Match the platform to how you want to invest. If you want simple, low-cost fund and fractional-share investing, Sharesies and InvestNow suit; for direct US and global share trading, Hatch and Tiger Brokers are geared to that. Compare the fee model — brokerage per trade, a percentage transaction fee, or platform/management fees — and how they add up for your trade size and frequency. Consider currency-conversion costs on overseas investing, the range of markets and funds offered, and whether you prefer active picking or low-cost index ETFs.

Leading providers in New Zealand

Sharesies is a hugely popular New Zealand platform offering NZX, ASX and US shares plus funds with fractional investing. Hatch specialises in US shares and ETFs. InvestNow provides a wide menu of managed and index funds with no transaction fee on many. Tiger Brokers offers low-cost access to US, Australian and Asian markets. The major banks — ANZ, ASB, BNZ and Westpac — provide broking and managed-fund services too. Fees across the market range from effectively 0% on some fund platforms up to around 3% or a per-trade brokerage depending on the service.

What it costs

Costs vary by model. Some fund platforms charge no direct transaction fee (earning through fund fees instead), while share-trading platforms charge either a small percentage — often a fraction of a per cent up to around 3% on very small trades — or a flat brokerage per trade. Overseas investing adds a currency-conversion spread. Managed and index funds carry an ongoing annual management fee. For frequent or larger investors, per-trade brokerage can be cheaper than percentage fees, so match the fee structure to your trade size and how often you invest.

Protections and regulation

Investment platforms and fund managers are regulated under the Financial Markets Conduct Act and licensed and monitored by the Financial Markets Authority (FMA), which oversees disclosure, licensing and fair conduct. The NZX operates under FMA oversight. Providers must be registered financial service providers and belong to a dispute-resolution scheme. Managed funds must publish standardised disclosures. Investing carries market risk — your capital can fall as well as rise — and these protections govern conduct and transparency rather than guaranteeing returns.

Common questions

Is there capital gains tax in New Zealand? — There is no general capital gains tax, though specific rules (like the FIF regime on larger overseas holdings and trader rules) can apply.

How much do I need to start? — Very little; platforms like Sharesies allow fractional shares, so you can begin with just a few dollars.

Should I pick shares or use index funds? — Low-cost, diversified index ETFs suit most long-term investors; direct picking carries higher risk and demands more research.

Investing & Brokerage in New Zealand — FAQ