New Zealanders have more options than ever for investing in US shares in 2026. Five platforms compete meaningfully for this business, each with different fee structures. Which costs least depends on how often you trade and how much you invest.
Lowest all-in cost in both scenarios below: Interactive Brokers (~$7 a year buy-and-hold, ~$84 active), with a more complex interface. Lowest FX of the app-based platforms: Tiger Brokers (0.35% per NZD/USD conversion as at October 2026). USD wallet (convert once): Stake. NZ-based and SIPC-protected: Hatch (part of the FNZ Group) and Sharesies, with Sharesies also covering NZX. NZ-domiciled funds (no FIF): InvestNow Foundation Series. Which costs least for you depends on how often you trade; see the scenarios below.
Full Comparison
Platforms are listed alphabetically in all tables below.
| Platform | Brokerage | FX fee | Platform fee | NZX | ASX | NZ-owned | SIPC |
|---|---|---|---|---|---|---|---|
| Hatch | $3 USD | ~0.50% | $0 | ❌ | ✅ | NZ-based, part of FNZ Group | ✅ |
| Interactive Brokers | USD$0.005/share (min $1) | ~0.002% | $0–$10/month | ❌ | ✅ | ❌ (US) | ✅ USD$500k |
| Sharesies | 1.9% per trade (capped $5 USD) | 0.5% | $0 ongoing (optional $3/$7/$15/mo plans) | ✅ | ✅ | ✅ | ✅ |
| Stake | US$3 | 1% deposit conversion (then $0 per trade) | $0 | ❌ | ❌ | ❌ (Australian) | ✅ |
| Tiger Brokers | From USD$1.99 | 0.35% | $0 | ✅ | ❌ | ❌ (Singapore) | Confirm PDS |
True Cost by Trading Frequency
This is the number that actually matters. The cheapest platform depends entirely on how often you buy and sell.
Scenario A — Buy-and-hold: $10,000 invested, 2 trades/year
| Platform | FX (buy + sell) | Brokerage | Platform fee | Total cost |
|---|---|---|---|---|
| Hatch | $100 | $6 | $0 | $106 |
| Interactive Brokers | ~$2 | ~$5 | $0 | $7 |
| Sharesies | $100 | $10 (capped, 2 trades) | $0 | $110 |
| Stake | $200 | $6 | $0 | $206 |
| Tiger Brokers | $70 | ~$8 | $0 | $78 |
Scenario B — Active trader: $10,000 invested, 24 trades/year
| Platform | FX (buy + sell × 12 round trips) | Brokerage | Platform fee | Total cost |
|---|---|---|---|---|
| Hatch | $1,200 | $72 | $0 | $1,272 |
| Interactive Brokers | ~$24 | ~$60 | $0 | $84 |
| Sharesies | $1,200 | $120 (capped, 24 trades) | $0 | $1,320 |
| Stake | $200 (once only) | $72 | $0 | $272 |
| Tiger Brokers | $840 | ~$96 | $0 | $936 |
Approximate figures. FX calculated on $10,000 notional per trade pair. Tiger Brokers uses its standard 0.35% NZD/USD fee and ignores its promotional $0 FX on the first NZ$2,000 a month.
What the numbers show: At 24 trades a year, Stake’s USD wallet model and Interactive Brokers’ near-zero FX produce the lowest totals. At 2 trades a year, Interactive Brokers and Tiger Brokers are lowest, with Hatch and Sharesies close together. Sharesies’ 1.9% per-trade brokerage (capped at $5 USD per US order) plus its 0.5% FX fee cost more than the alternatives at higher trading volume. Its $3/$7/$15 monthly plans can reduce this, but Tiger Brokers and Interactive Brokers still cost less at scale.
Platform Deep-Dives
Platforms are listed alphabetically.
Hatch
Part of the FNZ Group (Hatch Invest NZ Limited), and also backed by Jarden. NZ-based support. SIPC protection confirmed via Drivewealth. Access to US and ASX. Flat $3/trade.
Main features: NZ-based, FMA-regulated access to US markets with a flat fee structure.
Interactive Brokers
US-based global broker with NZ access. Near-zero FX costs (0.002%) and sub-USD$2 US trades give it the lowest totals in both scenarios above. The interface is complex and designed for professional or experienced investors.
Main features: Lowest all-in costs in this comparison, with a professional trading interface and a monthly fee of $0–$10.
→ Interactive Brokers NZ Review 2026
Sharesies
NZ-owned platform. US stock access via Drivewealth/SIPC. Also provides NZX and ASX, so all three markets sit in one account. Its 1.9% per-trade brokerage (capped at $5 USD for US orders) plus FX fee cost more than competitors at high trading volume.
Main features: A single platform for NZX + US + ASX shares.
Stake
Australian platform with NZ FMA licence. USD wallet eliminates per-trade FX: you convert once and trade freely in USD. $3/trade standard; $0 on some US ETFs on premium plan.
Main features: A one-off NZD to USD conversion rather than FX on every trade (see Scenario B).
Tiger Brokers
Singapore-founded, NZ FMA-licensed. USD$1.99 minimum per US trade; 0.35% FX on NZD/USD (as at October 2026), the lowest FX rate of the app-based platforms in the table above. Also covers NZX and HK markets.
Main features: USD$1.99 minimum brokerage on US trades, 0.35% NZD/USD FX, and NZX access.
→ Tiger Brokers NZ Review 2026
The FIF Consideration
Whichever platform you use for US shares, be aware of the $50,000 FIF threshold. Once your total overseas investment cost price exceeds $50,000 (across all platforms combined), FIF rules apply and you must file a FIF return.
Alternative: Buy global exposure via NZ-domiciled PIE funds (InvestNow Foundation Series, Kernel Global 100) and avoid FIF entirely. The trade-off is slightly higher fees and no access to specific US stocks.
NZ PIE Funds as an Alternative
If the goal is market exposure rather than specific company ownership, NZ-domiciled PIE funds differ from direct US share holding in three ways:
- Tax simplicity: no FIF, no withholding tax complexity
- Cost: InvestNow Foundation Series index funds from 0.03% a year (plus a 0.50% buy/sell fee) vs FX + brokerage on direct shares
- PIR capping: maximum 28% tax rate, even for high earners
The trade-off: no ability to pick individual companies, and no access to the full range of US-listed ETFs.
Summary by Feature
| Platform | Feature |
|---|---|
| Hatch | NZ-based (FNZ Group), SIPC, flat $3/trade |
| Interactive Brokers | Lowest all-in cost in both scenarios |
| InvestNow Foundation Series | Index fund exposure, no FIF (annual fees from 0.03%, plus a 0.50% buy/sell fee) |
| Sharesies | NZX + US + ASX in one platform |
| Stake | USD wallet, convert once |
| Tiger Brokers | Lowest FX of the app-based platforms (0.35%) |
Which suits you depends on how often you trade, how much you invest, and whether you want individual companies or market exposure.
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.
Next Steps
- Hatch Review NZ 2026
- Stake NZ Review 2026
- Tiger Brokers NZ Review 2026
- FIF Tax NZ — When It Applies
- Sharesight Review NZ 2026 — Portfolio tracking and FIF reports
- Back to Platform Reviews