Compare 5 best online brokers in New Zealand for 2024

Our investment experts have reviewed the best trading platforms in NZ. Use this guide to find and compare the best online brokers in New Zealand.
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Updated: Apr 5, 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 2024

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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. 

Sort by:

1
Min. Deposit
$ 100
Best offer
User Score
10
Trade +2000 CFDs on Shares, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads with up to 1:5 leverage
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

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
Min. Deposit
$ 100
Best offer
User Score
9.8
Choose over 100 popular stock CFDs
Buy and Sell Stock CFDs with as little as £100
Zero Commissions - no hidden fees
Start Trading
Payment Methods:
American Express, Bank Transfer, Credit Card, Debit Card, Discover, Mastercard, MoneyBookers, PayPal, Rapid Transfer, SEPA, Visa, WebMoney, Wire Transfer, neteller, , skrill
Full Regulations:
ASIC, FSA, FSCA, MiFID
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.
3
Min. Deposit
$ 0
Best offer
User Score
9.3
Have access to more than 50 exchanges across 30 countries
Invest without commission in US stocks and lots of ETFs
DEGIRO rated among the best online brokers in Europe
Start Trading
Payment Methods:
Bank Transfer
Full Regulations:
FCA

Investing involves risk of loss

Top 5 online brokers in NZ, reviewed

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1. Plus500. Best for international CFD trading*

From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

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 CFDs on over 2000 stocks.

Plus500 has something for all types of stock trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding depending on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

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

Highlights

Visit Plus500 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.

2. AvaTrade. Best regulated broker for secure trading

From 0.13%

Fees

$100

Minimum deposit

1,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Trade 1000+ CFDs with competitive spreads Regulated by Tier 1 financial bodies across the world Consistently highly rated trading platform on web and mobile Offers social trading through its proprietary AvaSocial platform
Spreads are competitive without being industry-leading Some assets are only available to trade through the MetaTrader software

Overview

We love AvaTrade because it offers powerful trading software to anyone who wants to trade professionally. AvaTrade is a CFD broker where you can trade more than 600 stocks from major global exchanges and all stock trades are commission free. 

AvaTrade integrates with trading software like MetaTrader 4 and 5 and boasts its own bespoke and award-winning mobile app software, AvaTradeGo. AvaTrade has been around since 2006 and is extensively regulated in Europe, Australia, Japan, British Virgin Islands, UAE, and South Africa.

The fees: There are no fees on any stock trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13%. An inactivity fee of £50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

Visit AvaTrade AvaTrade Review
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.

3. Degiro. Best for 0% commission on US stocks

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees No minimum deposit required Segregated client funds
No US customers No forex or cryptocurrencies offered for trading Limited educational resources

Overview

We love Degiro because it offers a simple trading platform so that you can trade quickly and easily wherever you are. Degiro offers stock trading on 50 stock exchanges in 30 countries, including the US, UK, and all leading European markets, with free stock trading on all US stocks.

Degiro has won 86 international awards and is one of the largest companies in Germany. All its services are available online or via the Degiro app. The website also boasts a huge range of educational material, including an Investor’s Academy, to help you get started.

The fees: All stock trades come with a €1 handling fee. US stock trading has no other fees, UK stock trading costs $1.75, and European stock trading costs €3.90. The rest of the world costs €5. A core selection of ETFs are free to trade, other global ETFs cost €2 plus a €1 handling fee. Derivative trading costs €0.75. There are no inactivity, deposit, or withdrawal fees.

Highlights

Visit DEGIRO DEGIRO Review

Investing involves risk of loss

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

pacific union logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

70+ forex pairs and 200+ financial assets available to trade Extremely low minimum trade sizes Multilingual support in 18+ languages
Minimum withdrawal of $100 Fewer assets than many competitors

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

Visit Review
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 AvaTrade assets DEGIRO assets
Stock CFDs 1,800+ 612
ETF CFDs 100+ 61
Forex CFDs 50+ 108
Crypto CFDs 40+ 20
Index CFDs 20+ 31
Commodity CFDs 20+ 19
View more > Plus500 > AvaTrade > DEGIRO >

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 AvaTrade fees DEGIRO fees
Cryptocurrencies From 2%
Commodities From 0.04%
Currencies From 0.8%
Indices From 0.7%
Stocks From 0.08%
View more > Plus500 > AvaTrade > DEGIRO >

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 AvaTrade spreads DEGIRO spreads
Stock CFDs 0.10% From 0.13%
ETF CFDs 0.10% From 0.13%
Forex CFDs 0.8 pips From 0.9 pips
Crypto CFDs 2% From 0.15% over market
Index CFDs 0.20% From 0.03 over market
Commodity CFDs 0.50% From $0.0015 over market
View all tradable assets > Plus500 > AvaTrade > DEGIRO >

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 AvaTrade fees DEGIRO fees
Trading fees No No
Inactivity fees Yes Yes
Rollover/overnight fees Yes Yes
Withdrawal fees No No
Spreads Yes Yes
Conversion fees Yes No
View more > Plus500 > AvaTrade > DEGIRO >

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 AvaTrade regulators DEGIRO regulators
Africa FSA FSCA
Asia FSA
Australasia ASIC, FMA ASIC
Europe FCA, CySEC CBI, MiFID, CySEC
International BVIFSC, FRSA
North America
South America
View more > Plus500 > AvaTrade > DEGIRO >

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 AvaTrade minimum trade DEGIRO minimum trade
Stock CFDs $10 No limit
ETF CFDs $10 No limit
Forex CFDs 0.01 lots No limit
Crypto CFDs $0.10 No limit
Index CFDs $10 No limit
Commodity CFDs $10 No limit
View more > Plus500 > AvaTrade > DEGIRO >

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 verfiying 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 AvaTrade rating DEGIRO rating
Trustpilot 4 4.7
Google Play Store 4.3 4.0
App Store 4.1 4.4
View more > Plus500 > AvaTrade > DEGIRO >

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.

Choose a NZ trading platform

FAQs

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What’s the best broker for beginners in New Zealand?
What’s the best investment platform in NZ?
What’s the cheapest online broker NZ with the lowest fees?
Which trading app is best in NZ?
Which investment platform in NZ has the best demo account?
What’s the safest broker for NZ users?
Is it legal to trade stocks in NZ?
Is forex and crypto trading legal in NZ?
What are the most popular online share trading platforms in NZ?
Can I invest in managed funds and ETFs from NZ?
Can Kiwis invest in international share markets?
How are capital gains from shares taxed in New Zealand?
Does New Zealand have a stock exchange?
Is day trading allowed in NZ?
Is eToro legal in New Zealand?
Can I use Robinhood in New Zealand?
Is crypto trading legal in New Zealand?
Is Ethereum illegal in New Zealand?
How are shares taxed in NZ?
Does New Zealand have a stock exchange?
Can New Zealanders invest in S&P 500?


Fact-checking & references
Risk disclaimer
James Knight
Editor of Education

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.

Prash Raval
Financial Writer

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.