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Comparing Sharesies vs Investnow vs Hatch vs ASB Securities vs Invest Direct and more

In this guide, we look at the pros, cons and costs of Sharesies, InvestNow, Hatch, Superhero, Tiger Brokers, Simplicity, Kernel, ASB Securities, Invest Direct and more when it comes to comparing fund platforms, fund managers and share brokers
Updated 16 August 2025

A Summary of Our Comparison:
Many of the companies listed on this guide are well-known among New Zealand investors as online platforms for trading shares and buying funds. However, each platform tends to excel in a particular area, meaning overall the platforms are quite different. 

In this guide, we look at the pros, cons, and costs of each when it comes to:
Disclaimer: This guide compares various investment platforms, share brokers and managed funds available to New Zealanders. It does not offer financial advice in any form, and only looks at the pros, cons and fees of each offering.

Worried about what happens to your investments if InvestNow, Sharesies, Hatch or another platform collapses or shuts down? Our easy to read custodian guide explains what you need to know. Our Transferring Share Portfolios to Another Investing Platform guide is relevant looking for anyone looking to move platforms.

Comparing Platforms for US Share Buying and Selling (Hatch vs Stake vs Sharesies vs Superhero vs Tiger Brokers)

Know this: As all US shares and ETFs are traded in USD, the fees and pricing below for each platform are stated in USD.

Because there are foreign exchange fees for funding each platform (from New Zealand dollars), there are a few differences. We compare Hatch, Stake and Sharesies, Tiger Brokers and Superhero side-by-side below:

Hatch for US shares

  • FX deposit fee: 0.5% on the interbank rate, no minimum - this is an FX fee for transferring NZD into USD
  • FX withdrawal fee: 0.5% on the interbank rate, no minimum - this is an FX fee for transferring USD into NZD
  • Brokerage fee: $3 flat fee to buy or sell up to 300 shares (then it’s $0.01 a share) for all order types (limit, market, stop-loss)
  • Our review: Hatch

Kernel for (Selected) US shares and ETFs


As an example, for $10,000 investment in Apple Inc.:
  • Core: $150 FX fee (1.50%) + $0 subscription = $150 total.
  • Plus: $60 FX fee (0.60%) + $60/year subscription (monthly billing) $120 total – however the paid plan assumes you’ll make ongoing investments.
  • Premium: $40 FX fee (0.40%) + $180/year subscription (monthly billing) = $220 total, again the plan assumes you’ll make ongoing investments.

Stake for US shares

  • FX deposit fee: 1% on the interbank rate, $2 minimum fee (this is an FX fee for transferring NZD into USD)
  • FX withdrawal fee: 1% on the interbank rate, + $2 (and minimum $10 withdrawals; this is an FX fee for transferring USD into NZD)
  • Brokerage fee: $3 to buy or sell
  • Our review: Stake

Sharesies for US shares

  • FX deposit fee: 0.5% on the interbank rate, no minimum, this is an FX fee for transferring  NZD into USD)
  • FX withdrawal fee: 0.5% on the interbank rate, no minimum, this is an FX fee for transferring USD into NZD)
  • Brokerage fees - US Shares: Sharesies members have access to an additional 4,000+ companies and exchange-traded funds (ETFs) across the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE). Transaction fees are simple: 1.90% (up to US$5 to buy or sell; there is also an exchange fee of 0.5% between NZD and USD. Our Sharesies vs Hatch vs Stake Guide outlines the offering in detail, and how it compares to alternative platforms.
  • Our review: Sharesies

Superhero for US Shares

  • FX deposit fee: 0.5% on the interbank rate, no minimum - this is an FX fee for transferring NZD into USD
  • FX withdrawal fee: 0.5% on the interbank rate, no minimum - this is an FX fee for transferring USD into NZD
  • Brokerage fee: $2 flat fee on all orders
  • Our review: Superhero

Tiger Brokers for US Shares

  • FX deposit fee: 0.35% on the interbank rate, no minimum - this is an FX fee for transferring NZD into USD
  • FX withdrawal fee: 0.35% on the interbank rate, no minimum - this is an FX fee for transferring USD into NZD
  • Brokerage fee:
  1. External agency fee and trading activity fee = 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)
  2. Settlement fee = US0.003/share
  3. SEC membership fee (only charged when selling shares) = US0.0000229 * Trade value
  4. ADR (American Depositary Receipt) fee = between US$0.01 and 0.03/share
  5. FINRA trading activity fee = US0.00013/share

MoneyHub Founder Christopher Walsh Shares his thoughts on shares vs funds (and why it's normal to invest in both):

While it's exciting to pick shares and invest given the potential for significant returns, it's a strategy that few people succeed with over the long term. Research consistently shows that index funds and ETFs, and, in some instances, actively managed funds, tend to outperform individual share portfolios, especially for those without the time, expertise, or resources to research and monitor their investments consistently.

That said, it's completely understandable to want some exposure to higher-risk, high-reward opportunities, and there's a place for that within a balanced investment strategy. A sensible approach is to build a strong foundation with managed funds (index and/or actively managed) and ETFs that provide steady growth while allocating some funds regularly to a portfolio to growth and/or dividend-focused individual shares if you enjoy the process and are willing to accept the risks.

Successful investing isn't about chasing the highest returns but achieving consistent, long-term growth. Diversification is what keeps your investments robust against market ups and downs - by investing in funds, ETFs, and shares, investors can find a balance that suits their risk tolerance and financial goals.

Remember, it's not about beating the market every year - it's about growing your wealth steadily over time. Please don't rush into share investing - there's a lot to learn, and it's best to start small while you learn more about local and global markets".
Christopher Walsh
MoneyHub Founder

A Top Pick for Beginner Investors: Tiger Brokers (NZ) Won Our Editor's Choice Award for Best Low-Cost Shares & ETF Platform

New to Investing? Start Smart with Tiger Brokers
If you're ready to start investing, choosing the right platform makes all the difference. We've reviewed and compared every major app available to New Zealanders, and ​Tiger Brokers (NZ) consistently delivers the best value.

Why Tiger Brokers?
Lower Costs = More Money Working for You
  • US shares from just US$2 per trade
  • 0.35% currency exchange - the lowest in New Zealand
  • Free real-time market data (others charge $15/month)
  • No subscription fees eating into your returns if you don't trade/invest

Everything You Need in One Place
  • NZ shares (NZX)
  • Australian shares (ASX)
  • US shares (NYSE, NASDAQ)
  • Asian Markets (China, Hong Kong, Singapore)
  • Start with just $1

MoneyHub Reader exclusive benefits:
  • In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  • Bonus Offer: New customers can receive up to NZ$200 in cash bonuses - simply open an account and within 7 days deposit NZ$2,000 for a NZ$100 bonus, NZ$5,000 for a NZ$150 bonus, or NZ$10,000 for a NZ$200 bonus!
  • Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  • Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  • Please note, standard T&Cs apply

Real Support When You Need It: Tiger Brokers has a local Auckland team and 24/7 live chat

Getting Started is Simple
  1. Sign up online (5 to 10 minutes)
  2. Fund your account
  3. Invest with small amounts while you learn without being penalised by the big fees that other platforms charge

Ready to start building wealth? Visit ​Tiger Brokers (NZ) and claim your MoneyHub benefits today.

Our view is simple: With all other platforms charging fees (Stake, Hatch, Sharesies, Superhero, etc.) for FX and/or share brokerage/transaction, Tiger Brokers' offer is unmatched in value in New Zealand.

MoneyHub's Editor Christopher Walsh says:
"Tiger Brokers is aggressively priced for global investors. At a time when some platforms are raising fees or lacking innovation, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. With an Auckland-based team, NZ regulation, and continued innovation (NZX investing launched in 2025, auto-invest, fractional shares, and its own TigerGPT chatbot), it's a standout choice for cost-conscious investors and one that I use for US and Hong Kong share investments for the reasons outlined above".

Comparing New Zealand-based Fund Managers

New Zealand has a lot of Fund Management companies who invest your money on your behalf in different assets (like shares and bonds). As the assets increase in value, so does the value of the investment. For this, fund managers charge their investors something known as a 'management fee'. It is a percentage of the total funds under management, for example, 0.25% or 1.50% per year. This means if you have an average investment balance of $10,000 and your management fee is 1.50%, you'll pay $150/year in fees. 

Managed funds can be 'active' (i.e. controlled by a research and trading team who frequently anticipate sharemarket movements and buy and sell shares) or 'passive', i.e. follow an index, such as the NZX 50 or S&P 500.

You can invest with fund managers directly by contacting their customer service team and applying to join. Many have minimum balance requirements (i.e. $5,000), but you can 'trade-in' shares you own as part of your initial investment (for example, if you have $5,000 of shares in A2 Milk, you can convert this into the equivalent dollar investment of a fund. Alternatively, platforms like Sharesies and InvestNow let you invest in many fund managers without the minimum investment.

While this list is by no means a recommendation, locally-operated fund managers that stand out among the crowd (for their strong performance history) include:
Most fund managers will invest in New Zealand and overseas assets, so what fund(s) you pick depends on your risk profile.

Simplicity Investment Funds

​Minimum investment: $1,000
​Funds and Fees: Simplicity Investment Funds offer several funds, outlined in the link below, with fees from 0.10% p.a. to 0.29% p.a.
Our review: Simplicity Investment Funds

Kernel Wealth

​Minimum investment: $1
​Funds and Fees: Kernel offers 15+ funds, outlined in the link below, with fees starting from 0.25% p.a.
Our review: Kernel Wealth

Sharesies vs InvestNow vs Simplicity vs Kernel summary

  1. InvestNow offers the widest number of managed funds and doesn't charge a platform fee.​
  2. Sharesies offers far fewer managed funds but makes up for that by offering thousands of ETFs listed in New Zealand, Australia and the US.
  3. Simplicity and Kernel offer low managed fund fees for index-based funds, but neither offered on InvestNow or Sharesies so you'll need to sign up directly with the respective fund manager.
  4. A wide selection of New Zealand Fund Managers, like Milford Asset Management and Pie Funds, are available on InvestNow. 

Comparing New Zealand-based Share Broker Platforms

Share ​Brokers let you buy and sell individual shares, although a fee is charged every time you buy or sell. This is usually a minimum fee (in dollars) or a percentage of the sale. Share Brokers can be online-only (e.g. Sharesies and Tiger Brokers), online and offline (e.g. ASB Securities and Invest Direct), and offline-only (such as a local Share Broker who you call to buy and sell shares e.g. Craigs Investment Partners and Forsyth Barr, which have offices all over New Zealand.

Share Brokers enable you to trade shares on the NZX, the ASX and/or other markets. Hatch specifically offers US-based shares and doesn't serve anyone looking to invest locally. Unlike Fund Managers who either actively invest or follow an index, you'll need to know what you're doing by way of research before trading any shares.

Sharesies

Trading fees:
  • Up to A$15 for ASX shares, up to NZ$25 for NZX shares, up to US$5 for US shares.
  • Sharesies members have access to an additional 4,000+ companies and exchange-traded funds (ETFs) across the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE).
  • ​Sharesies has an auto-invest feature that lets you set-and-forget investments into a Global, Responsible, or DIY order. There’s also an order suited to kids, only available via Kids Accounts.
Sharemarkets: NZX, ASX, and US exchanges (NASDAQ, NYSE, CBOE)
Our review: Sharesies
T​he fees are simple:
  • 0.3% total per trade (0.10% commission + 0.20% platform fee)
  • Minimum $4 per trade
  • ​Our review: Tiger Brokers
  • Bonus signup offer - up to NZ$200 one-off bonus and up to four free US markets trades per month for life

Fee cost example: Buying $1,000 of Air New Zealand shares
  • Fee calculation: $1,000 × 0.3% = $3
  • But the minimum is $4, so you pay $4 total

ASB Securities

Trading fees: 0.30% on trades above $10,000, with fees starting at $15 for smaller trades. 
Sharemarkets: NZX and ASX (other available via phone)
Our review: ​ASB Securities

Invest Direct

Trading fees: $29.90 (or 0.20% of the trade value, whichever is the greater)
Sharemarkets: NZX and ASX (US, Europe and UK options available as well)
Our review: Invest Direct

Sharesies vs ASB Securities vs Invest Direct

  1. Invest Direct and ASB Securities are both the most expensive for smaller trades given their $25+ minimum trade fees.
  2. Sharesies offers the lowest fees for share trades up to $3,000 given there's no minimum transaction fee.

Comparing New Zealand-operated Fund Platforms

Fund Platforms, such as Sharesies and InvestNow, offer several different funds you can invest in. The platforms don't manage your investment; instead, they let you pick the fund(s) you want to invest in and pass the money onto the underlying fund manager. The platforms let you see the fund performance data and track the results. Fund Platforms are popular with all investor types (i.e. those starting, occasional investors and expert-level) and don't have the high minimum investment levels that individual funds often charge. InvestNow doesn't charge any membership fees, which means the platform's offering is effectively free to use. 

Sharesies and InvestNow are the two most prominent New Zealand-based Fund Platforms, and we compare them side-by-side below:

InvestNow

​Minimum investment: $250
​Funds and Fees: 140+ managed funds from 25 well-regarded fund managers, with a platform fee of $0/year. Annual fund fees (including performance fees) range from 0.20% to 3.02%, with many index funds offered.
Our review: InvestNow

Sharesies

​Minimum investment: $0.01
​Funds and Fees: 13 managed funds, >1500 ETFS
Our review: Sharesies

Sharesies vs InvestNow summary

  • Sharesies offers less funds but more ETFs, and, unlike InvestNow, investors can hold individual company shares all on the one platform.

Sharesies vs Investnow vs Hatch and more - Our Conclusion

  • There are a lot of options available to everyday New Zealanders looking to invest in shares or funds. Dynamic startups have driven down the per-transaction charges and made it easier (and cheaper) to buy and sell shares.
  • With regards to comparing Fund Platforms and Fund Managers, InvestNow offers the widest selection of funds and doesn't charge an annual platform fee. Sharesies offers the widest number of ETFs given its access to NZ, Australian and US exchanges. Simplicity and Kernel offer their own funds with low fees.
  • Both Sharesies and InvestNow let you invest in many fund managers without the minimum investment that many fund managers usually charge if you go direct. Best of all, managing your investments is very easy with both Sharesies and InvestNow's user-friendly interface.
  • What platform, fund or share is best for you depends on where you want to invest (locally or overseas) and how much money you want to invest.

A Top Pick for Beginner Investors: Tiger Brokers (NZ) Won Our Editor's Choice Award for Best Low-Cost Shares & ETF Platform

New to Investing? Start Smart with Tiger Brokers
If you're ready to start investing, choosing the right platform makes all the difference. We've reviewed and compared every major app available to New Zealanders, and ​Tiger Brokers (NZ) consistently delivers the best value.

Why Tiger Brokers?
Lower Costs = More Money Working for You
  • US shares from just US$2 per trade
  • 0.35% currency exchange - the lowest in New Zealand
  • Free real-time market data (others charge $15/month)
  • No subscription fees eating into your returns if you don't trade/invest

Everything You Need in One Place
  • NZ shares (NZX)
  • Australian shares (ASX)
  • US shares (NYSE, NASDAQ)
  • Asian Markets (China, Hong Kong, Singapore)
  • Start with just $1

MoneyHub Reader exclusive benefits:
  • In discussions with Tiger Brokers (NZ), their team has advised us that anyone signing up via MoneyHub will receive the following:
  • Bonus Offer: New customers can receive up to NZ$200 in cash bonuses - simply open an account and within 7 days deposit NZ$2,000 for a NZ$100 bonus, NZ$5,000 for a NZ$150 bonus, or NZ$10,000 for a NZ$200 bonus
  • Zero transaction fees (e.g. brokerage fees) four times for US and ASX shares every month, for life.
  • Zero currency exchange fees for the first NZ$2,000 of currency exchanged every month, for life (NZD to/from USD and AUD)
  • Please note, standard T&Cs apply

Real Support When You Need It: Tiger Brokers has a local Auckland team and 24/7 live chat

Getting Started is Simple
  1. Sign up online (5 to 10 minutes)
  2. Fund your account
  3. Invest with small amounts while you learn without being penalised by the big fees that other platforms charge

Ready to start building wealth? Visit ​Tiger Brokers (NZ) and claim your MoneyHub benefits today.

Our view is simple: With all other platforms charging fees (Stake, Hatch, Sharesies, Superhero, etc.) for FX and/or share brokerage/transaction, Tiger Brokers' offer is unmatched in value in New Zealand.

MoneyHub's Editor Christopher Walsh says:
"Tiger Brokers is aggressively priced for global investors. At a time when some platforms are raising fees or lacking innovation, Tiger Brokers is around half the cost of its nearest competitor for US stock trades. With an Auckland-based team, NZ regulation, and continued innovation (NZX investing launched in 2025, auto-invest, fractional shares, and its own TigerGPT chatbot), it's a standout choice for cost-conscious investors and one that I use for US and Hong Kong share investments for the reasons outlined above".
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