Compare 5 best online brokers & trading platforms in New Zealand for 2023

Our experts have rated and reviewed the best trading platforms in New Zealand. Compare their top features to find the best online brokers in New Zealand.
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Updated: Dec 9, 2022
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The Invezz team of expert traders, data analysts, and financial writers frequently test the best trading platforms. Amongst a range of features, we ranked the top brokers in New Zealand according to their affordability, security, and available international markets.

In this article, we answer the question: what are the best online brokers in New Zealand for Kiwi users?

Best stock trading platforms in New Zealand 2023

Our rankings reveal that the best Kiwi stock broker is eToro .

Having assessed 100+ brokers, this list represents the three services that top our rankings as the overall best trading platforms in New Zealand. 

1
Min. Deposit
$ 10
Promotion
User Score
10
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
Investoo Ltd is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Investoo Ltd to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
2
Min. Deposit
$ 0
Promotion
User Score
10
Get insights from millions of investors, creators, and analysts
Build your portfolio of stocks, ETFs, and crypto–all in one place
No minimum deposit
Start Trading
Payment Methods:
Bank Wire, Check, Debit Card, Wire Transfer
Full Regulations:
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.
3
Min. Deposit
$ 100
Promotion
User Score
10
Trade out-of-hours on over 70+ US stocks
Get exposure to a wide range of popular UK, US and international stocks
Enjoy flexible access to more than 17,000 global markets, with reliable execution
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal
Full Regulations:
ASIC, FCA, FINMA, is a licensed bank (IG Bank in Switzerland)
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.

Top 5 online brokers in New Zealand, reviewed

1. eToro. Best for beginners, copy-trading & demo-account

2900

No. assets

$10

Minimum deposit

Stocks

Platform type

Pros & Cons

Overview

Visit eToro Read Review

2. Public. Best for sharing beginner trading ideas

public.com logo

...

No. assets

...

Minimum deposit

Stocks

Platform type

Pros & Cons

Overview

Visit Read Review

How we chose the best Kiwi trading platforms

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

Here are the key factors that played into the final ranking.

  • Fees. We prioritised platforms that charge low trading fees, don’t charge for deposits or withdrawals, and don’t charge any hidden fees.
  • Device availability. If a platform is available across all devices as a mobile app, that deserves a boost. In a mobile world, you need stock trading apps in New Zealand 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 in New Zealand 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 in New Zealand 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. Many traders like to use software like MetaTrader 4 or cTrader to place trades. We gave special attention to brokers that integrate with these services.
  • Customer reviews. Finally, we looked into customer reviews, to make sure that we only recommend platforms where the majority of customers had a positive experience.

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

More about stock trading platforms in New Zealand

What products can I trade with a Kiwi stock broker?

You can trade stocks from New Zealand, or invest in leading companies from around the world. Here’s a breakdown of what (and how) you can trade with an online broker in New Zealand.

Stocks

  • Kiwi stocks. One option is to simply buy and sell stocks that are listed in New Zealand. This is normally the most straightforward option, as you can buy shares in any company that’s listed on a Kiwi stock exchange.
  • US stocks. Some of the best known companies in the world are listed in the United States. Most Kiwi trading platforms also let you invest in stocks that are listed on the NYSE or the NASDAQ exchange in the United States, but it depends on the legal restrictions in New Zealand.
  • International stocks. You may also be able to buy shares in companies that are based in the rest of the world. The best international brokers in New Zealand offer global stocks, but it may be a limited selection. If you want to buy equities from outside New Zealand or the US, be sure to check those stocks are available through your trading platform before you sign up.

ETFs

ETFs (exchange traded funds) are investment funds that pool money together from lots of different investors and use it to track a particular index, like the S&P 500. Even if you can’t invest in every stock from every country, you can usually find an alternative in an ETF that tracks the performance of New Zealand’s top stock exchanges and indexes. 

Mutual funds

Mutual funds are professionally managed investments. You buy shares in the fund through an online trading 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.

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.

How much does it cost to use a Kiwi trading platform?

It is normally free to sign up to a stock trading platform in New Zealand. The main cost comes in the form of trading fees, which depend on the platform and on what you want to trade. Some of the best trading apps in New Zealand offer completely free trading, while others charge a flat fee or commission per trade.

Are stock brokers in New Zealand regulated?

Yes, online stock brokers have to be regulated in order to offer share dealing services. Ideally, you want to find a broker that offers top-tier regulatory protection either through your local regulator, or through an internationally recognised institution. The best brokers in New Zealand are regulated internationally through institutions such as CySEC (Cyprus Securities and Exchange Commission). 

How to start trading in New Zealand

  1. Find a Kiwi trading broker. Choose your favourite trading platform from the list at the top of this page.
  2. Create an account and deposit money. To set up an account you need to provide a form of photo ID. Have that to hand, and then transfer some money to the account via a card payment, bank transfer, or an alternative payment method like PayPal.
  3. Search for a stock and place your trade. Find the stocks you want to trade using their ticker symbol. Enter the details of our trade, and hit ‘buy’ to execute it.

FAQs

What’s the best broker for beginners in New Zealand?
What’s the cheapest Kiwi broker with the lowest fees?
Which trading app is best in New Zealand?
Which trading platform has the best demo account in New Zealand?
What’s the safest broker in New Zealand?
Is it legal to trade stocks in New Zealand?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.