Compare 5 best online brokers in New Zealand for 2025

Our investment experts have reviewed the best online brokers & investment platforms in NZ. Use this guide to find and compare the best trading platforms in New Zealand.
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Updated on Dec 17, 2024
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On this page, you will find the best online brokers and trading platforms in New Zealand. With such a wide choice of platforms, picking the right one can be challenging. We’ve done the hard work for you and in this guide, our experts have reviewed and ranked the best Kiwi brokers to trade stocks with. 

If you’re a Kiwi investor looking for an investment account, read on to compare the best stock brokers in New Zealand and find the investment platform most suitable for you. 

Best stock trading platform NZ 2025

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Our rankings reveal that the best online broker in NZ is Plus500 .

The list below includes the top three investment platforms in New Zealand. Click on any of the buttons to register an account in minutes, or keep scrolling to learn more about each platform. 

We found 8 online brokers for users based in

Plus500 review
4.5
Plus500
Min. Deposit $100
Fees From 2%
No. assets 2800+
Demo account Yes

Plus500 review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

IG review
4.4
IG Markets
Min. Deposit n/a
Fees Spread only
No. assets 17000+
Demo account Yes

IG review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Eightcap review
4.5
Eightcap
Min. Deposit $100
Fees Up to $3.5 RT
No. assets 800+
Demo account Yes

Eightcap review

74-89% of retail CFD accounts lose money

Top 5 online brokers & investment platforms in NZ, reviewed

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We found 8 online brokers for users based in

1. Plus500. Best for international trading*

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4.5
Ratings

$100

Min. deposit

From 0.08%

Fees

2,800

No. assets

Yes

Demo account

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to futures contracts for some of the biggest indices.

Plus500 has something for all types of traders, no matter what level of experience. Its low margin requirements (starting at $100) and different contracts make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Fees & Costs

Pros & Cons

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. IG Markets: Best for trusted and transparent trading

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4
Ratings

$-

Min. deposit

From 0.5%

Fees

17,000

No. assets

Yes

Demo account

Overview

We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive market offerings, and strong regulatory compliance. IG offers CFD trading in stocks, forex, commodities, indices, ETFs and more, with plenty of useful plugins and integrations to improve the trading experience.

One of the key strengths of IG Markets is its seamless integration with MetaTrader 4 (MT4), a popular third-party trading platform favored by many traders for its advanced charting tools, automated trading capabilities, and custom indicators. This integration allows users to leverage MT4’s sophisticated features while benefiting from IG Markets’ competitive pricing, reliable execution, and extensive market access.

Beyond its product range and platform integrations, IG Markets stands out for its commitment to education and customer support. The company offers a wealth of educational resources, such as webinars, tutorials, and market analysis, which help traders of all levels improve their knowledge and skills.

The fees: For most assets, you don’t pay a trading fee but will be charged through the spread instead. That’s the difference between the buy and sell price of an asset. IG’s spreads are competitive but variable: you’ll pay a smaller spread on popular assets compared to less popular ones. Share trading works differently, and you’ll be charged a minimum fee on each trade of at least $15.

Highlights

Fees & Costs

Pros & Cons

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

3. Eightcap. Best online broker for choice of trading platform

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4.5
Ratings

$100

Min. deposit

Up to $3.5 RT

Fees

800

No. assets

Yes

Demo account

Overview

We love Eightcap because you have several trading platforms to choose from. You can choose between MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms are favourites among retail traders. With the MetaTrade suite of platforms, you can access lots of technical indicators, custom tools, and expert advisors. 

TradingView with Eightcap allows you to trade directly from your charts while accessing the hundreds of tools and features available. Eightcap has over 900 markets available including stocks, forex, indices, commodities, and cryptocurrencies. 

The fees: Eightcap is a CFD broker and charges spreads, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.

Highlights

Fees & Costs

Pros & Cons

74-89% of retail CFD accounts lose money

4. AvaTrade. Best regulated broker for secure trading

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Avatrade_logo
4
Ratings

$100

Min. deposit

From 0.13%

Fees

500

No. assets

Yes

Demo account

Overview

We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various stock markets without owning the underlying assets. AvaTrade is a multi asset brokerage firm and includes CFDs on hundreds of global stocks including Google, Apple, Microsoft, and more. 

AvaTrade is also highly regarded for its strong regulatory framework and commitment to security. AvaTrade is regulated in multiple jurisdictions, including Europe, Australia, Japan, South Africa, and the British Virgin Islands, which means it must adhere to stringent regulatory standards across the world. 

AvaTrade isn’t just well regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology. 

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £/€/$50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

Fees & Costs

Pros & Cons

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

5. Pacific Union. Best for social trading & customer support

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pacific union logo
4
Ratings

$-

Min. deposit

...

Fees

-

No. assets

No

Demo account

Overview

We love Pacific Union because its beginner friendly platform comes loaded with lots of educational content, including how to guides and video learning. Pacific Union offers over 200 stock CFDs for some of the world’s biggest companies.  

It’s an award-winning broker and has a proprietary social trading application that makes it easy for beginners to follow the strategies and positions of the platform’s top traders. Pacific Union uses the popular Metatrader 4 software alongside its mobile and web based apps. Traders can choose the amount of leverage they want to use, all the way up to 500:1.

The fees: Commission starting at 0.1 points is charged on select stock CFDs across all account types. Spread starts at 0.5 points and applies to all stocks. Swap charges for holding a trade overnight vary depending on size.  

Highlights

Pros & Cons

Contracts for Difference (CFDs) trading carries a high level of risk to your capital and can result in losses, you should only trade with money you can afford to lose. CFDs trading may not be suitable for all investors, please ensure that you fully understand the risks involved and take appropriate measures to manage it.

The best 8 trading platforms based in NZ

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Here’s a selection of a few more New Zealand trading brokers. These are excellent alternatives if you’re a NZ resident looking for a broker closer to home. 

  1. Hatch. Hatch is an online investment platform founded in NZ that allows Kiwis to invest in US stocks and ETFs.
  2. Sharesies. Sharesies is a online investment platform that offers fractional investing in NZ and Australian shares.
  3. Stake. Stake is an Australian share trading app but they recently launched Stake Zero which is focused on the NZ market.
  4. InvestNow. InvestNow is an online investment platform owned by Implemented Investment Solutions Limited based in Auckland.
  5. Smartshares. Smartshares provides New Zealanders access to NZX and ASX listed Exchange Traded Funds (ETFs). 
  6. ASB Securities. ASB Securities provides an online share broking service for trading NZX and ASX listed securities. It is owned by ASB Bank.
  7. Forsyth Barr. Forsyth Barr offers online share broking services for NZX-listed securities. It is owned by the investment company Forsyth Barr Group.
  8. Direct Broking. Direct Broking provides online trading services for investing in shares, funds and more. It is owned by ANZ Bank.

More about online share trading platforms in New Zealand

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What products can I trade with a Kiwi stock broker?

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When you use a Kiwi stock broker, you can trade stocks from New Zealand and around the world. Many of the best investment platforms in NZ offer other markets like ETFs, forex, and bonds. Here’s a quick look at some available assets when trading with the best online brokers in New Zealand. 

Stocks

  • Kiwi stocks. For many investors in NZ, the easiest option is to buy and sell stocks listed in NZ. There will usually be no restrictions and it’s the most straightforward option for Kiwi residents. 
  • International stocks. You can usually buy shares for companies listed on exchanges outside of NZ. The best brokers in NZ offer stocks listed on the NYSE or the NASDAQ in the United States. You may also be able to buy and sell stocks from other countries. 
  • Initial public offering (IPO). An IPO is when a company goes public by listing its shares on the stock market. IPOs are a popular way to invest and many of the best Kiwi brokers give investors access to the newest companies. 

ETFs

Exchange traded funds (ETFs) are funds that track a particular index or industry. ETFs are one of the easiest ways for beginner investors to build a portfolio. You’ll find many exchange traded funds tracking the likes of the S&P 500, gold, and even crypto like Bitcoin. 

If you want exposure to New Zealand based companies you can invest in NZX 50G index funds.

Mutual funds

Mutual funds are professionally managed investments. You buy shares in the fund through an investment platform and the manager decides what to invest it in. 

Mutual funds and ETFs are similar, but the former are managed by a professional who tries to beat the market, while the latter buy and sell stocks automatically based on a set of fixed criteria. The best stock broker in New Zealand allows you to invest in stocks from NZ, ETFs, and mutual funds.

Futures and options

Futures and options contracts involve making an agreement to purchase a stock in the future at an agreed price. They’re favoured by stock traders and can be used as a way of speculating on how you think a company’s price might change in the future.

Other assets

To invest in other financial assets from New Zealand, you may be better off using a different type of trading platform. For example, for trading currency pairs you want one of the best forex brokers in NZ, for cryptocurrencies like Bitcoin, a top NZ crypto exchange. The best CFD brokers in New Zealand offer a range of financial assets, including many of the options above.

Product Plus500 assets IG Markets assets Eightcap assets
Stock CFDs 1,800+ 17,000 + 590
ETF CFDs 100+
Forex CFDs 50+ 99 56
Crypto CFDs 40+ 10 122
Index CFDs 20+ 80 + 16 (17 on TradingView)
Commodity CFDs 20+ 16
View more > Plus500 > IG Markets > Eightcap >

Note that all listed instruments on Plus500 are available to trade as CFDs.

How much does it cost to use the best online share trading platforms?

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You can sign up with an online trading platform in NZ without paying fees. However, to invest online, you’ll have to consider some charges. Most platforms charge an annual account fee of around $30-35. 

Brokerage fees are typically $20-30 per trade. Some platforms like Sharesies and Hatch offer zero account fees but charge small trade commissions. InvestNow has no account fees and only charges underlying fund fees.

You should also consider deposit and withdrawal fees that may apply if you use a certain payment method. For example, some platforms charge for using apps like Paypal or Skrill, while debit cards and bank transfers are free. There may even be a minimum investment required to begin share trading.

Asset Plus500 fees IG Markets fees Eightcap fees
Crypto From 2% Spread only Up to $3.5 RT
Commodities From 0.04% Spread only Up to $3.5 RT
From 0.8%
Indices From 0.7% Spread only Up to $3.5 RT
Stocks From 0.08% From 0.5% Up to $3.5 RT
View more > Plus500 > IG Markets > Eightcap >

Another way an online broker in New Zealand might charge you is via the spread. The spread is the difference between the buy and sell price of an asset and effectively serves as a commission the broker is charging you on top of the market price. The smaller the spread, the better value you’re getting from your broker.

Here’s a comparison of the spreads across the top Kiwi trading platforms.

Product Plus500 spreads IG Markets spreads Eightcap spreads
Stock CFDs 0.10% 0.10% From 1.2 pts
ETF CFDs 0.10% 0.10%
Forex CFDs 0.8 pips 0.6 pips From 0.0pips
Crypto CFDs 2% Variable From 0.5%
Index CFDs 0.20% 0.10% From 1.2 USD
Commodity CFDs 0.50% 0.3 pts From 0.12 USD
View all tradable assets > Plus500 > IG Markets > Eightcap >

On top of the trading fees and spreads, there may be other charges for using your online broker account. These can include inactivity fees, where you’re charged if you don’t use your account for a period of time (usually 3-6 months), as well as overnight fees, which only apply if the broker is also a CFD platform, or even an account maintenance fee.

Here’s a look at the types of fees different brokers in New Zealand charge, to give you a complete picture of the cost of trading with the top brokers in New Zealand.

Fee Plus500 fees IG Markets fees Eightcap fees
Trading fees No Yes Yes
Inactivity fees Yes Yes No
Rollover/overnight fees Yes Yes Yes, on certain assets
Withdrawal fees No No Yes, for certain payment methods
Spreads Yes Yes Yes
Conversion fees Yes Yes Yes, currency dependent
View more > Plus500 > IG Markets > Eightcap >

Are stock brokers in New Zealand regulated?

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Yes, stock brokers and online share trading platforms in NZ are regulated by the Financial Markets Authority (FMA).

There are several rules surrounding regulation which you can find below. 

  • The FMA must license stock brokers to provide financial services under the Financial Markets Conduct Act 2013.
  • Brokers must comply with regulations around conduct, disclosure, reporting, and handling client funds.
  • NZX Limited regulates brokers trading on the NZX stock exchange. ASX regulates those trading Australian securities.
  • Brokers must segregate client funds from company funds and submit audited returns to the FMA.
  • The FMA maintains a public register of licensed brokers that meet conduct and prudential requirements.
  • Brokers must belong to a dispute resolution scheme like Financial Services Complaints Ltd.
  • There are regulations around broker capital adequacy, insurance, and compliance procedures.
  • The FMA conducts supervision and can take disciplinary action for breaches.  

Here are the best online brokers in New Zealand and where they’re regulated across the world.

Region Plus500 regulators IG Markets regulators Eightcap regulators
Africa FSA FSCA
Asia MAS
Australasia ASIC, FMA FMA, ASIC ASIC
Europe FCA, CySEC FCA, BaFin, FINMA FCA, CySEC
International DFSA, BMA
North America CFTC, NFA
South America
View more > Plus500 > IG Markets > Eightcap >

What is the minimum amount needed to start trading in New Zealand? 

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Most platforms charge an annual account fee of around $30-35. Brokerage fees per trade range from $10-30. Some Kiwi trading platforms charge monthly subscription costs instead and have a minimum investment usually around $50 per trade.

Product Plus500 minimum trade IG Markets minimum trade Eightcap minimum trade
Stock CFDs $10 From £1 1 share
ETF CFDs $10 From £1
Forex CFDs 0.01 lots From £1 0.01 lots
Crypto CFDs $0.10 From £1 Variable
Index CFDs $10 From £1 1 share
Commodity CFDs $10 From £1 0.01 lots
View more > Plus500 > IG Markets > Eightcap >

How are shares taxed in New Zealand?

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Share investments in NZ are taxed under the PIE (portfolio investment entity) tax regime. Your online share trading platform or broker will deduct tax at your PIE tax rate of 10.5%, 17.5% or 28%, depending on your income. Under the PIE rules, you do not pay separate capital gains tax on share investments.

How to buy stocks in New Zealand

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Every investment platform in NZ is designed to help you invest with the minimum of fuss. 

Follow this six step guide to learn how to buy shares online in NZ for the first time.

Step 1. Find a Kiwi broker

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Compare the best online stock brokers and choose your favourite from the list at the top of this page.

Step 2. Create an account

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Once you’ve chosen the best broker, set up an account by supplying your email address and password. Fill in personal details like your name and address.

Step 3. Verify the account

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Before you use an online broker you need to verify your identity. Online brokers in New Zealand usually will ask for several documents when verifying your account.

Some of these include a passport, driving licence, a Kiwi Access Card, utility bill, and bank statements. Upload a copy of your verification documents to do this. The verification process can take up to 24 hours, but is often much quicker than that.

Step 4. Deposit money into your account

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You can make your initial deposit via a card payment, bank transfer, or an alternative payment method. Many online share trading platforms accept PayPal and similar e-wallets, but you should check this ahead of time.

When you deposit funds into your brokerage account you will be able to use NZD, however you should be aware of any conversion fees your platform may charge.

Step 5. Search for a stock and place your trade

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Find the stocks you want to trade using their ticker symbol. Enter the details of your trade, and hit ‘buy’ to execute it.

Step 6. Monitor your investment

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Check up on your investment regularly. Use the latest news and market research to help you decide when to sell your shares, and lock in a profit or loss.

User reviews: your verdict on the top trading platforms in New Zealand

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As you’ve made it this far in our guide, you’ll already know who the top brokers in New Zealand are and what to consider when choosing one. But there’s still one more factor you need to take into account, user reviews.

As part of our research, we surveyed our New Zealand users to get their feedback. We also studied review sites like Trust Pilot and factored in rating scores while ranking the best stock brokers in NZ. The table below has the results!

Review source Plus500 rating IG Markets rating Eightcap rating
Trustpilot 4 4.0 4.3
Google Play Store 4.3 4.3 4.1
App Store 4.1 4.6 3.8
View more > Plus500 > IG Markets > Eightcap >

How we chose the best online trading platform in NZ

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Our reviewing panel is made up of industry experts, including our Data Analyst, Dan Ashmore, CFA, our Senior Editor of News, Harsh Vardhan and expert trader, Prash Raval. The panel also includes an independent fact checker, Richard Stutely.

Here are the key factors that played into our final ranking of the best stock brokers.

  • Fees. We prioritised Kiwi brokers that charge low trading fees, don’t charge for deposits or withdrawals, and don’t charge any hidden fees.
  • Device availability. An online trading platform that is available across all devices as a mobile app deserves a boost. In a mobile world, you need the best share trading app in NZ to work across mobile, tablet, and desktop. 
  • Platform security. All services we recommend are regulated by respected financial institutions and provide investor protection in the event that anything goes wrong.
  • Free demo accounts. All the best stockbrokers should offer the chance to test their service before you pay for it. We gave the brokers with the best demo accounts a boost in our rankings.
  • Access to global markets. International stock brokers that allow you to invest in global markets, particularly popular ones like the United States, scored well in our reviews.
  • Trading and analysis tools. Trading platforms that offer analysis tools make it easier to do all your research and trading in one place. Any broker that offered this convenience scored well.
  • Third-party integrations. You might want to use a piece of downloadable, third-party software like MetaTrader 4, MT5, or cTrader to place your trades. The best trading software in NZ should integrate with these services and those that did so received a higher ranking. 
  • Customer reviews. Finally, we looked into customer reviews, to make sure that we only recommend the best investment platforms in NZ where the majority of Kiwi customers had a positive experience.

Find out more about how we rate, rank, and review platforms.

FAQs

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01

What’s the best broker for beginners in New Zealand?

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What’s the best investment platform in NZ?

03

What’s the cheapest online broker NZ with the lowest fees?

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Which trading app is best in NZ?

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Which investment platform in NZ has the best demo account?

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What’s the safest broker for NZ users?

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Is it legal to trade stocks in NZ?

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Is forex and crypto trading legal in NZ?

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What are the most popular online share trading platforms in NZ?

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Can I invest in managed funds and ETFs from NZ?

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Can Kiwis invest in international share markets?

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How are capital gains from shares taxed in New Zealand?

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Does New Zealand have a stock exchange?

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Is day trading allowed in NZ?

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Can I use Robinhood in New Zealand?

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Is crypto trading legal in New Zealand?

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Is Ethereum illegal in New Zealand?

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How are shares taxed in NZ?

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Does New Zealand have a stock exchange?

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Can New Zealanders invest in S&P 500?


Fact-checking & references

James Knight

James Knight

Editor of Education

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James is the lead editor of education for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the Jacksonville Jaguars. His biggest claim to fame is that he once fed, rode, and ate an ostrich all on the same day....