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Hatch vs Tiger Brokers - What share investment platform is best for you?

Our comparison of Hatch and Tiger Brokers looks at the features, fee structures, key similarities and differences, and frequently asked questions about both platforms and investing in general.
Updated 17 September 2024
A Summary of Our Comparison:
  • Hatch offers one investing market - the US. Our review focuses on anyone wanting to invest in the US and choosing between Hatch and Tiger Brokers.
  • DIY investing has become a common pastime. However, with this increase in trading volume has come a significant number of players in the share trading market. Both local and international start-ups have entered the market to try and compete for New Zealand's investing community. However, with many different options, it can be hard to understand which share trading platforms are best.
  • One of the most popular share platforms for New Zealanders is Hatch. On the other hand, Tiger Brokers is a relatively new entrant to the New Zealand market and has been extremely active with marketing and outreach to push their new and improved platform.
  • So, which platform is better? This guide compares and contrasts Hatch and Tiger Brokers to understand the benefits and drawbacks of each. We walk through the top facts you need to know and the most frequently asked questions that New Zealanders have regarding Tiger Brokers and Hatch.
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Know This: It's important to note that while this guide compares Tiger Brokers and Hatch, the comparisons and analysis have been kept to a relatively high level. For more in-depth information about legal or fee structures, we've included hyperlinks to their respective websites that provide a more detailed review.

Our guide covers:
Disclaimer: MoneyHub is not a Financial Adviser, and this comparison guide has been published to explain the investment fundamentals and outlines the pros and cons of Hatch and Tiger Brokers (NZ) as investment platforms.

In the interests of full transparency, MoneyHub has a financial relationship with Tiger Brokers (NZ) for promotional purposes and Hatch for marketing awareness. This does not influence our analysis or opinions. As with any investing app, investing in shares, ETFs, options, and futures carries risks, and past performance is not indicative of future results.
Read our comprehensive Hatch Review

Best For
  • Long-term investors
  • Large, place and hold investors
  • Those wanting to use a New Zealand-based platform

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Read our comprehensive Tiger Brokers (NZ) Review

Best for:
  • New Zealanders looking for high-value investments
  • Advanced investors who need a wider range of offshore investment products
  • High-volume investors and traders
  • Options and futures traders 

Tiger Brokers (NZ) is our Favourite Low-Cost Shares Platform in our 2023 Editor's Choice Awards:

  • ​Tiger Brokers (NZ) is a low-cost broker. Currently, the broker offers the lowest commissions, 0.35% FX fees and free level-2 data on US-listed shares and ETFs. For US shares, it's a lower-cost alternative to Hatch, Sharesies, Stake and Interactive Brokers.
  • The company offers access to US, Hong Kong, Singaporean and Australian stock markets and China A-Shares. Altogether, over 7,000 shares are listed on the platform.
  • Exclusive sign-up benefits: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. Receive a NZ$30 cash bonus when you open the account and make your first deposit of any amount, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

MoneyHub’s Editor Christopher Walsh says:
"Tiger Brokers is focused on global investing, and at a time when some other platforms have raised their fees, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. Tiger Brokers is the only global online player to have a local Auckland-based team and to be regulated in New Zealand. It focuses on delivering low fees to global market investors looking to build wealth using shares, futures and options. It continues to innovate and has recently launched auto-invest, fractional shares and its own TigerGPT investment chatbot."

Our Overview of Each Platform

Tiger Brokers
  • Tiger Fintech New Zealand, owned by Tiger Brokers NZ, was registered with Financial Service Provider in 2021, targeting local kiwi investors.
  • The Tiger Trade app is Tiger Broker's New Zealand share trading platform that can be accessed on your phone or computer. In addition, Tiger Brokers offers a wide range of investments across multiple regions worldwide.
  • Tiger Brokers allows New Zealanders to invest in stocks listed in the United States, Australian, Singapore, Hong Kong, and China stock markets, as well as financial derivatives like Options and Futures contracts.
  • ​Tiger Brokers New Zealand is related to the international parent company of Tiger Brokers, known as Up Fintech Holdings. Up Fintech Holdings is publicly listed on NASDAQ under the stock ticker TIGR.
Hatch
  • Hatch was established in 2018 and is owned by FNZ, a Wellington-based fintech company.  As a background, FNZ provides the back-end financial infrastructure for many investment platforms such as Vanguard, Barclays, Jarden, Lloyds Bank, AMP, ANZ, and BNZ. 
  • Hatch is the first New Zealand-owned web platform to offer easy access to US-listed stocks and ETFs through your own individual US brokerage account, meaning you directly own your shares. Hatch is only focused on US stocks and doesn't offer any access to any other market.
  • The platform has grown in popularity, with a surge during the COVID-19 lockdown, recently reaching a milestone of over 100,000 New Zealand-based customers. Hatch offers Kids Investment Accounts with a reduced fee structure.

Tiger Brokers Platform, Features and Fee Structure

Tiger Brokers Products

  • Tiger Brokers provides investment products in many different markets, including stocks, exchange-traded funds (ETFs), US OTC stocks, options, futures, warrants, CBBCs and REITs.
  • It provides these products in global markets such as the United States (through the NYSE, NASDAQ, AMEX and CME as examples), Australia (through the ASX), Hong Kong (through the HKEx), Singapore (through the SGX) and China (through the Shanghai Stock Exchange and Shenzhen Stock Exchange via HKEx).
  • Important: Options and futures can be complicated and are usually only suitable for experienced traders who fully understand the inherent risks associated with trading these derivatives.
  • Additionally, Tiger Brokers provides advanced technical analysis, live streaming data, and in-depth market information so buyers can get the most up-to-date information for their trades, pre-market and post-market trading hours for the US market – meaning you can trade for up to 16 hours every day, and much more.​

Tiger Brokers Features and User Interface

  • The Tiger Brokers platform (Tiger Trade) has a wide range of functionality that investors can take advantage of. The platform has a lot more functionality and customisation compared to Hatch. At first glance, the interface can look complicated, but after a few uses of the app, the value of the additional features and functions is evident.
  • With eight order types available, including limit orders, market orders and stop-loss orders, detailed company information, technical analysis overlay for stocks and multi-chart layout, the Tiger Trade app is more comprehensive than the simplistic layout of the Hatch website.
  • The Tiger Trade app also offers a live demo account (known as "paper trading") that is available to all registered users. This demo account is automatically loaded with US$100,000 and allows New Zealand investors to familiarise themselves with the trading platform before investing real money into the financial markets. The user interface on IOS, Android and desktop is sleek, user-friendly, and customisable.​
  • Tiger Brokers also has a detailed 'Features' comparison page that lists out some of the most important differences that investors should be familiar with.

Tiger Brokers Fees

  • Tiger Brokers do not charge any fees to register, open an account and trade. Instead, Tiger Brokers charges a flat minimum amount per order (depending on the exchange you're buying/selling on) and either a percentage of the total trade value or a flat rate per share.
  • For US stocks and ETFs, there is a minimum $2 per order (flat fee to buy or sell up to 200 shares and USD 0.01 for every additional share after that per transaction) and pass-through fees apply.
  • When it comes to buying and selling stocks, Tiger Brokers is very cost-effective versus local competitors. Tiger Brokers has very competitive pricing compared to other competitors in the New Zealand brokerage platform space (such as Hatch, Sharesies, ​Stake and Jarden Direct). Tiger Brokers has a detailed 'How we compare' chart on their website, that details the fees that will be paid at different investment values, e.g. $100, $500, $1,000, etc.
  • For US shares, there is a 0.35% FX fee when converting NZD to USD and AUD to USD. For more details on the fees and commissions across all the markets associated with Tiger Brokers, check out our Tiger Brokers Review.

Hatch Platform Products, Features and Fee Structure

Hatch Products

  • Hatch provides access to stocks and ETFs listed in the United States (through the NYSE, NASDAQ and CBOE for example). ​

Hatch Features and User Interface

  • Hatch has a flexible structure when it comes to investing, as the platform doesn't have a minimum required investment amount to purchase stocks. However, with a 3 USD brokerage fee, most investors will buy at least USD 100 of stocks to spread the brokerage fee on a larger investment. Hatch also offers fractional shares (they're able to offer you ownership in stock by "slicing" up the stock into smaller portions).
  • Hatch is the only New Zealand-based platform that gives you your own US brokerage account with their partner Drive Wealth. This means you own your shares; Hatch (or another third party) doesn't own them for you.
  • Having no minimum investment amounts is arguably helpful for beginner investors or those not initially intending to put a lot of money/capital into the financial markets. This lack of minimum amount creates a low barrier to entry for New Zealanders to get into investing and learn more about stocks and ETFs.
  • Regarding the user interface, Hatch has a simple user interface that makes it easy to see how much money you've invested with Hatch, what you're invested in and which potential stocks you can invest in.

Hatch Fees

  • Hatch doesn't charge any annual fees to become and stay a member. Instead, there is a simple USD 3 fee per trade (known as a "brokerage fee").
  • For example, if you want to invest USD 1,000 into a company such as Microsoft, Hatch will deduct USD 3 from the balance and invest USD 997 into Microsoft shares.
  • If you're converting money from NZD to USD, there's a 0.50% fee. 
  • For more information on Hatch's fee structure, you can get a detailed breakdown of their pricing here.

Key Similarities between Hatch and Tiger Brokers

Both platforms have no minimum investment amounts.

Both Hatch and Tiger Brokers have no minimum investing amounts when stock investing. However, it's important to know that both will charge fees on the order or total transaction volume, so the more you invest, the more efficiently your fees are expensed against your trade.

Both platforms typically get funded from bank accounts.

Both platforms are relatively easy and fast to fund your accounts.
  • Hatch only accepts bank transfers - customers deposit New Zealand dollars to a Hatch trust account where they are exchanged into US dollars. No balances are held in NZD. The exchange rates are made clear before you transfer any money - we talk about Hatch's fees and process here.
  • Tiger Brokers accepts bank transfers and POLi. Both methods are relatively quick and easy to complete.

Know This: Tiger Brokers offers an additional method of funding through NZ-owned Akahu, which utilises open banking infrastructure to allow users to better control and transfer their funds to their accounts. Once you have verified your bank account through Akahu, you will be able to deposit funds to your Tiger Brokers account instantly. For more information on the collaboration between Akahu and Tiger Brokers, check out this post on Tiger Brokers' website.

Both platforms are relatively fast and easy to set up an account.

The sign-up process for both Hatch and Tiger Brokers is extremely quick. You'll likely only need a form of identification (such as a passport or driver's licence), bank account, IRD number, and address to get started.

While the validation process can take a few days, both platforms make it seamless and easy to sign up and automate all the relevant KYC (Know Your Client) and AML (Anti-Money Laundering) requirements set out by the FMA (Financial Markets Authority).

Both platforms provide robust online customer support.

Both Hatch and Tiger Brokers have relatively intuitive and responsive customer support channels. 
  • Hatch support is online and via phone and limited to the hours of Monday to Friday, 9am to 5:30pm; their FAQs/help centre are thorough and in our experience the live chat and email replies were very responsive.
  • Tiger Brokers has an extensive FAQ (Frequently Asked Question) section and their customer service team is available by phone from 9:30am to 5:30 Monday-Friday and a general email which aims to respond to all customer queries within 1 working day. It also has an online chat option.

Both platforms offer competitive foreign exchange rates and brokerage fees, but Tiger Brokers is cheaper overall

Generally, both platforms offer great value for money when purchasing securities when compared to other ways to buy US shares. However, small differences do exist:
  • Both platforms have an FX fee for transferring NZD into the relevant currency; for example, to trade in the US markets, you need to have USD in your account.
  • Tiger Brokers offers better foreign exchange rates on the NZD/USD pair; 0.35% versus 0.50% for Hatch.

Both platforms offer fractional shares.

Tiger Brokers has recently introduced the fractional shares function for US shares on their platform. Fractional shares for Tiger Brokers are only available when buying US shares, and Hatch also offers fractional shares.

Key Differences between Hatch and Tiger Brokers

The Clearing House for US shares.

Hatch uses DriveWealth to offer US shares. If something were to happen to either Hatch, you'd likely be given sufficient notice to withdraw your funds or transfer your shareholding from Hatch to another US-based broker.

If DriveWealth were to become insolvent, US regulation ensures that investors are insured on the security (stocks, bonds, etc.) and monetary value of their holdings up to a certain threshold. This limit is usually a minimum of around USD 250,000 depending on the level of protection the brokerage platform has under the relevant regulation, such as whether the brokerage platform has SIPC (Securities Investor Protection Corporation) coverage. From what we can tell, this information has not been disclosed by Hatch.

On the other hand, Tiger Brokers uses a subsidiary of their NASDAQ-listed ultimate holding company, Up Fintech Holding, as the clearing house for their US securities. The company that makes these trades is TradeUP Securities, Inc. which is a licensed entity registered with the SEC (No.: 8-36754), member of the FINRA (CRD: 18483), member of the SIPC, member of the Depository Trust Company (DTC) and the National Securities Clearing Corporation (NSCC), and regulated by FINRA and SEC.
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Tiger Brokers uses an in-house company as their clearing house and therefore has more control over the function and future of this offering.

Tiger Brokers provides better access to international markets.

Given the significant size of Tiger Brokers and its prevalence in international markets outside Australia and New Zealand, Tiger Brokers offer much greater access to the absolute number of offshore markets, types of securities and level of derivatives.

For New Zealanders looking to invest in securities in offshore markets like Hong Kong, Singapore or China, Tiger Brokers will be able to provide that international access compared to Hatch which only offers US shares.
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However, if you're investing beyond the US, you'll need to make financial, tax and analytical considerations when investing offshore. Additionally, having more investments in more offshore markets becomes more complex to manage when it comes to foreign exchange, FIF (Foreign Investment Fund) tax and ultimate ownership implications.

Tiger Brokers offers an app, Hatch does not.

Hatch doesn't offer an app. Tiger Brokers offers a mobile app on IOS and Android allowing investors to trade securities easily, check their portfolio balance and view insights of the stocks, ETFs and other financial derivatives that have been invested in.

Tiger Brokers additionally has an active community tab in their app, where users regularly post updates of their portfolio and share their opinions on what is happening in various stock markets and companies.
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Tiger Brokers also offers a desktop version of the Tiger Trade app.

Tiger Brokers has better access to advanced technical analysis and fundamental market data.

While both platforms have a base level of research and analytics behind their platforms, Tiger Brokers has a more in-depth mobile app and a significantly deeper level of insight when it comes to analysing specific securities.

Whether it's recent market news, candlestick charts, analyst ratings or financial statements, Tiger Brokers has a much more in-depth view of a wider range of securities. While some may find this overwhelming (compared to Hatch's more beginner focus), Tiger Brokers will offer a much better user experience for intermediate to advanced investors.
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Tiger Brokers' Tiger Trade app meets the needs of "beginner" investors and to cater to a wider range of investors.

Tiger Brokers consistently offers promotions and bonuses, whereas Hatch does not.

Tiger Brokers has been heavily marketing its platform with attractive sign-up bonuses relative to other brokerage platforms. As well as previous promotions this year for giveaways of shares after minimum deposits, and also offering zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life, and zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD).​

In contrast, Hatch rarely run promotional sign-ups; the one consistent promotion they have via their MoneyHub user campaign. This lack of promos doesn't reflect badly on Hatch; it's just a different approach to marketing and user growth to the one that Tiger Brokers uses.

Hatch is owned by Wellington-based FNZ, whereas offshore investors mainly own Tiger Brokers.

Hatch is privately owned by FNZ, which it bought from Kiwi Wealth in 2021. The ultimate holding company of Tiger Brokers is publicly listed on the NASDAQ Exchange and was founded in China.
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Both platforms utilise custody accounts to ensure that there remains a separation between the customer's capital and the broker's capital. In addition, both companies have strong financial and reporting teams to ensure these records are kept up to date.

Tiger Brokers (NZ) is our Favourite Low-Cost Shares Platform in our 2023 Editor's Choice Awards:

  • ​Tiger Brokers (NZ) is a low-cost broker. Currently, the broker offers the lowest commissions, 0.35% FX fees and free level-2 data on US-listed shares and ETFs. For US shares, it's a lower-cost alternative to Hatch, Sharesies, Stake and Interactive Brokers.
  • The company offers access to US, Hong Kong, Singaporean and Australian stock markets and China A-Shares. Altogether, over 7,000 shares are listed on the platform.
  • Exclusive sign-up benefits: In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  1. Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  2. Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  3. Receive a NZ$30 cash bonus when you open the account and make your first deposit of any amount, and an extra NZ$50 cash bonus in your account with a cumulative net deposit of at least NZ$2,000 within seven days of the first deposit.

MoneyHub’s Editor Christopher Walsh says:
"Tiger Brokers is focused on global investing, and at a time when some other platforms have raised their fees, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. Tiger Brokers is the only global online player to have a local Auckland-based team and to be regulated in New Zealand. It focuses on delivering low fees to global market investors looking to build wealth using shares, futures and options. It continues to innovate and has recently launched auto-invest, fractional shares and its own TigerGPT investment chatbot."

Our Conclusion

Summary
  • Hatch and Tiger Brokers run investing platforms that offer cost-competitive offerings for US stocks. However, when it comes to trade/brokerage fees and FX fees, Tiger Brokers is about 30% cheaper for standard trades.
  • Hatch is popular with beginner investors and experienced New Zealanders looking to specifically buy and sell US stocks. There's no app offered, but Hatch's browser functionality offers company insights to help make informed decisions.
  • Tiger Brokers has more functionality for those looking for more markets (e.g. ASX, Asian markets and more), advanced products (options and futures) to meet the needs of investors looking to invest in a wider range of offshore investment products or those who are transacting at higher dollar amounts or stock volumes.
  • Tiger Brokers will likely become a popular platform to move to for many New Zealanders once they get more experienced and want to connect to a global investor community. Being listed on the NASDAQ Exchange with almost 10 million users worldwide, Tiger Brokers brings an international angle that Hatch doesn't have.
For more information on our brokerage platform reviews, check them out here:
For more information on our brokerage platform comparisons, check them out here:

Frequently Asked Questions

How do brokers make money? How can some brokers provide commission-free trading? Am I getting ripped off somewhere?

While most brokerage platforms generate revenue through a few means:
  • Taking a flat or percentage fee of the total trade value
  • Taking a fee from currency exchange
  • Annual account fees as a result of holding an account with the brokerage platform
  • Other revenue-generating services from third parties (through things like cross-selling or earning commissions through referrals to other companies)

​Some platforms, such as RobinHood and even Tiger Brokers, during a promotion earlier this year, offer lifetime commission-free trading.
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However, commission-free brokers still have costs and aren't run as charities. The main way they generate revenue is by selling the market data they generate (the market "orders" that their clients put through) to "market makers" (a fancy term for trading houses that match up buyers and sellers) such as Citadel, IMC or Optiver. The market makers can then profit on these orders at the margin (normally by being one-millionth of a second faster to conduct the trade than competitors). This "Payment for Order Flow" (the term used by Robinhood to describe their business model) is how most commission-free brokers earn revenue.

How long will it take me to open an account with Hatch or Tiger Brokers?

The online registration process for Tiger Brokers and Hatch is extremely easy and fast. The online registration process can take anywhere from five to fifteen minutes. However, there may be a delay between when you finish the online registration process and when you can place your first trade. Companies need to undergo KYC (Know Your Client), AML (Anti-Money Laundering) and other relevant protocols to ensure their new users comply with all regulations.
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Additionally, funding your account may take up to three business days, depending on the method you pick (bank transfer, POLi, or through an open banking API like Akahu).

I'm concerned with my privacy, given Tiger Brokers was founded in China. Is my private information at risk with Tiger Brokers?

Tiger Brokers in New Zealand trades under Tiger Fintech (NZ) Limited and is a client money and property services provider under the Financial Markets Conduct Act 2013 and adheres to various financial service laws in New Zealand. They also have a detailed privacy policy that is available to view on their website, which details how they use and protect your information, etc. The ultimate holding company, Up Fintech Holding, is listed on the NASDAQ, and this status as a listed company means it has to uphold the same standards as all other publicly listed companies in the US. These rules also include foreign ownership and privacy provisions against using personal data. As a result, Tiger Brokers is not treated any differently from other publicly listed companies on NASDAQ, regardless of where the company originated.

While there's nothing certain in the financial markets, it can be reasonably assured that given Tiger Brokers' status in New Zealand and listed status on NASDAQ, we are confident that you can expect a high level of protection of your private information.

Visit the Tiger Broker's Privacy Policy for more information. ​

What has better customer service - Hatch or Tiger Brokers?

It depends what you need. While Tiger Brokers is an international stock brokerage company, they have invested heavily in the New Zealand market and have a large team (30+ employees) working in their Auckland office. As part of our review process, Tiger Brokers confirmed with our research team that "they aim to answer all customer-related emails within 1 working day, have a live chat service that is accessible via the Tiger Trade app, or Tiger Brokers website, and have a skilled client services team that is ready to answer any queries you may have over the phone, operating from 9:30am to 5:00pm from Monday to Friday". Beyond this, they also stated that they welcome "anybody to visit their office on Queen Street, Auckland to meet the team and offer in-person help to anyone that requires it".
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Hatch, which operates predominately out of Wellington, also aims to answer customer queries via email or a call-back service within 2 hours during work hours.

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