MoneyHub NZ
  • Search
  • Investing
    • Investing Platforms
      • Reviews
        • Sharesies Review
        • Hatch Review
        • Stake Review
        • Tiger Brokers (NZ) Review
        • Superhero Review
        • BlackBull Markets Share Trading Platform Review
        • ASB Securities Review
        • Jarden Direct Review
        • InvestNow Review
        • Kernel Review
        • Flint Wealth Review
        • Interactive Brokers
        • Smartshares Review
        • Catalist Review
      • Comparisons
        • Sharesies vs Hatch vs Stake
        • Hatch vs Stake
        • Hatch vs Tiger Brokers
        • Sharesies vs Tiger Brokers
        • Stake vs Tiger Brokers
        • Comparing Sharesies vs Investnow vs Hatch vs Jarden Direct and more
        • Best Investment Apps
        • How Do I Start Investing?
        • Virtual Stocks and Shares Trading Games
      • Guides
        • How to Invest in Shares
        • Investing in Vanguard Funds from New Zealand
        • Investing in the US Stock Market from New Zealand
          • How To Buy Tesla Shares
          • How To Buy Apple Shares
          • How To Buy Amazon Shares
          • How To Buy Alphabet Shares
          • How To Buy Netflix Shares
          • How To Buy Microsoft Shares
          • How To Buy Meta Shares
        • What Happens If Your Investing Platform Shuts Down?
        • Fractional Shares
        • Transferring Share Portfolios
        • How to Read and Understand a Share Chart
        • NZX in a Nutshell
        • Investing in Asian Markets from New Zealand
        • Understand Gross vs Net
    • Introduction to Investing
      • Guides
        • Index Funds
        • 10 Ways to Invest in New Zealand
        • How to Invest Regularly
        • Passive Investing vs Active Investing
        • Investments You Can Own Forever
        • Investing Mistakes
        • ETFs (Exchange Traded Funds)
        • Best Retirement Income Products in New Zealand
        • Index Funds vs ETFs
        • Shares vs ETFs
        • Dollar-Cost Averaging Guide
        • Passive Income Strategies
        • How Wealthy New Zealanders Invest Their Money
        • The Best Way to Invest Inheritance or a Windfall
        • Barefoot Investor-Friendly Financial Products in New Zealand
        • Investment Terms Glossary
        • IPOs
        • Investing in Dividend Shares
        • Common Shareholder Numbers in New Zealand
        • Shorting a Stock
        • Investing vs Trading vs Gambling
      • Young People and Investing
        • Investing for Kids
        • Investing For Grandchildren
        • 10 Top Investments for Young New Zealanders
        • Sharesies Kids Accounts Review
        • SquareOne Review
        • Dosh Review
      • Investing Calculators
        • Compound Interest Calculator
        • Investment Calculator
        • Savings Calculator
        • Net Worth Calculator
        • Million Dollar Calculator
    • Managed Funds, Tax & DIY Investing
      • Guides
        • Investing Guide
        • Our Favourite Funds
        • Advisers
          • Financial Advisers Overview
          • DIY Investing vs Investment Brokerage Firms vs Financial Advisors
          • Financial Advisers Auckland
          • Financial Advisers Wellington
          • Financial Advisers Christchurch
        • Bank Credit Ratings
        • Tax on Investments and Savings
        • Capital Gains Tax
        • Bright-Line Test
        • Ethical Investing
        • Best ESG Funds
        • Asset Allocations to Build Wealth
        • Managing Offshore Investments for Returning New Zealanders and Migrants
        • Managed Funds
          • Booster Private Land and Property Fund Review
        • How to Buy and Sell Bonds
        • Buying NZ Corporate Bonds
        • Trading in a Nutshell
        • Peer to Peer Lending
        • Crowd Funding Guide
        • REITs Guide
        • Jasper Review
        • Investing & Personal Finance Podcasts
        • Emergency Funds
        • UK Pension Transfer to New Zealand
        • Returning to the UK from NZ
        • Spending Your Savings in Retirement
        • How to Take Income from Investments
        • What Am I Entitled to If My UK Pension Scheme or Provider Makes a Mistake?
        • Investment Scams
        • Investing in Recession-Proof Sectors and Asset Classes During a Downturn
        • Hedging Investments
        • Top Personal Finance Books for New Zealanders
        • Top Ten Personal Finance Resources
      • Reviews
        • Simplicity Investment Funds Review
        • Lending Crowd Review
        • Squirrel Review
        • Sharesight Review
        • Lifetime Retirement Income
        • New Zealand Financial Markets Authority (FMA)
      • Calculators
        • Managed Funds Fee Calculator
        • Basis Points Calculator
        • Inflation Calculator
        • Retirement Calculator New Zealand
    • Alternative Investments and Trading
      • Reviews
        • BlackBull Markets Review
        • CMC Markets Review
        • Plus500 Review
        • IG Review
        • TMGM Review
        • CMC Markets vs Plus500 vs IG Markets vs BlackBull Markets
      • Guides
        • How to Invest in Gold
        • How to Invest in Silver
        • Forex Trading Guide
        • Options Trading
        • Contracts for Difference (CFDs) Guide
        • Futures Trading
        • Commodities Trading
        • Forex Trading Tools
        • Forex Trading Platforms Comparison
        • Forex Trading Courses and Education
        • Forex Regulation
        • Copy Trading
    • Cryptocurrency
      • Reviews
        • Easy Crypto Review
        • Swyftx Review
        • Binance Review
        • Easy Crypto vs Swyftx
        • Independent Reserve Review
        • eToro Review
        • Coinbase Review
        • Kiwi-Coin Bitcoin Exchange Review
        • Vault International Bitcoin Fund Review
      • Guides
        • How to Buy Bitcoin in New Zealand
        • Beginner's Guide to Bitcoin and Blockchain
        • Guide to NFTs
        • Bitcoin Wallet Guide
        • Bitcoin Mining
        • How to Sell Bitcoin
        • Bitcoin and Crypto Scams
        • Initial Coin Offerings
        • A Beginner’s Guide to Investing in Cryptocurrencies
        • Decentralised Finance
        • Bitcoin in New Zealand
        • New Zealand Bitcoin Exchanges
        • How to Buy Ethereum in New Zealand
        • Other Coins
          • How to Buy Ripple in New Zealand
          • How to Buy Cardano in New Zealand
          • How to Buy Dogecoin in New Zealand
          • How to Buy Litecoin in New Zealand
          • How to Buy Polkadot in New Zealand
  • Loans & Finance
    • Car Finance
      • Car Finance Calculator
      • Electric Vehicle Loans
      • How to Refinance Your Car Loan
      • Car Loan Refinance Calculator
      • Car Dealership Finance vs Alternatives
      • Bad Credit Car Loans
      • Car Finance Company Reviews
        • AA Money Review
        • Better Finance Review
        • Kiwi Car Loans Review
        • MTF Finance Review
        • Simplify Loans Review
        • Car Loan Brokers vs Direct Car Finance
      • Car Finance Must-Knows Guides
        • Buying a Car Loan vs Personal Loan?
        • Car Loans and Collateral
        • Car Loan Guarantors
        • How to Save for a Car
        • Paying Cash for a Car vs Car Finance
        • Balloon Payments
      • Car Finance Add-On Insurance Guides
        • GAP (Guaranteed Asset Protection Insurance) Insurance
        • MBI (Mechanical Breakdown Insurance)
        • PPI (Payment Protection Insurance)
    • Personal Loans
      • Debt Consolidation Loans
      • Secured Loans
      • Home Renovation Loans
      • Online Loans
      • Bad Credit Loans
      • Beneficiary Loans
      • Payday Loans
      • Cash Advance
      • Same Day Loans
      • Low Income Loans
      • Personal Loan Calculator
      • Debt Consolidation Calculator
      • Refinance Personal Loan Calculator
      • Home Renovation Loan Calculator
      • Interest Calculator
      • Harmoney Loans Review
      • Nectar Review
      • Avanti Finance Review
      • Save My Bacon Review
    • Credit Scores & Interest Rates
      • Credit Scores and Credit Checks
      • How to Build Credit in New Zealand
      • How to Pay Down Debt Faster
      • Baycorp and Debt Collection
      • Interest Rates Guide
      • Interest Rate Comparison
      • Buy Now Pay Later Apps
        • Afterpay Review
        • Laybuy Review
        • Humm Review
        • Zip Review
  • Insurance
    • Car Insurance
      • Guides
        • How to Get Cheaper Car Insurance
        • Car Insurance Calculator
        • No Claims Bonuses Explained
        • Car Insurance Excess Explained
        • Cheapest Cars to Insure
        • Modifications that Make a Car Uninsurable
        • Car Insurers Directory
        • Car Insurance Glossary
      • Reviews
        • Tower Car Insurance Review
        • Cove Car Insurance Review
        • Trade Me Car Insurance Review
      • AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance
      • Young Driver Car Insurance
      • Third Party Car Insurance
      • Caravan Insurance
    • Home, Contents and Other Insurance
      • House Insurance
      • House Insurance Calculator
      • Difficult to Insure Areas
      • Insuring Old Houses
      • Contents Insurance
      • Home and Contents Insurance
      • Renters' Insurance
      • Landlord Insurance
      • Dental Insurance and Dentist Plans
      • Phone Insurance
      • Insurance Excess
      • Motorbike Insurance
      • Initio Review
      • Insurance Brokers
        • Trusted Insurance Brokers in Wellington
        • Trusted Insurance Brokers in Christchurch
    • Pet Insurance
      • Is Pet Insurance Worth Buying?
      • Cat and Dog Desexing
      • Getting a Kitten
      • Buying a Puppy
      • Pet Euthanasia
      • Vet Costs in New Zealand
      • Costs of Owning a Cat
      • Costs of Owning a Dog
    • Life & Health Insurance
      • Life Insurance
        • Life Insurance Policy Comparison - Cigna vs AIA vs Asteron Life vs Fidelity vs Westpac vs Partners Life
        • Life Insurance Calculator
        • Pre-Existing Medical Conditions
        • Buying Life Insurance Direct vs Using an Insurance Broker
        • Life Insurance Policies - Features and Questions to Ask
        • When To Cancel Or Change a Life Insurance Policy
        • Life Insurance For Smokers and Vapers
      • Health Insurance
        • Going to Australia for Medical Treatment
      • Income Protection Insurance
        • ACC vs Income Protection Insurance
        • Income Protection Insurance for Self Employed
      • Mortgage Insurance
      • Trauma Insurance
      • Redundancy Insurance
      • Funeral Insurance
        • What to Do When a Spouse or Partner Dies
        • Funeral Costs
  • Credit Cards
    • Best Credit Cards
    • Rewards and Cashback Credit Cards
    • The Best American Express Credit Cards
    • Air New Zealand Airpoints Credit Cards
      • ANZ vs AMEX vs Kiwibank vs Westpac Platinum Airpoints Credit Cards
      • ANZ Airpoints Visa Platinum vs AMEX Airpoints Platinum
      • Kiwibank Airpoints Platinum Visa vs AMEX Airpoints Platinum
      • Westpac Airpoints Platinum Mastercard vs AMEX Airpoints Platinum
    • Balance Transfer Credit Cards
    • Platinum and Gold Credit Cards
    • Reviews
      • American Express Credit Cards Review
        • American Express Airpoints Platinum Review
        • American Express Gold Rewards Card Review
        • AMEX Comparison - Airpoints Platinum vs Gold Rewards
        • American Express Free Card vs Airpoints Platinum
        • American Express Platinum Card Review
        • American Express Membership Rewards Program Review
        • AMEX Cardholder Feedback
        • The Best Ways to Spend AMEX Membership Rewards Points
        • Qantas Credit Cards
        • Singapore Airlines KrisFlyer Credit Cards
        • Cathay Pacific Asia Miles Credit Cards
        • Emirates Skywards Credit Cards
        • RewardPay Review
      • Flight Centre Mastercard Review
    • Guides
      • Pay Off Credit Card Debt
      • Credit Card Basics
      • Mastercard vs Visa
      • Credit Card Minimum Payments Explained
      • Where is Amex Accepted?
      • Credit Card Interest Calculator
      • How to Request a Credit Card Chargeback
    • Other Credit Cards
      • Travel Money Cards
        • Australia Travel Money
        • Bali Travel Money
        • Fiji Travel Money
        • Rarotonga Travel Money
        • UK Travel Money
      • Wise Debit Card Review
      • Revolut Review
      • Revolut vs Wise - Which Is Better?
      • Travelex Money Card vs Wise Debit Card Comparison
      • OneSmart Card vs Wise Debit Card Comparison
      • Cash Passport vs Wise Debit Card Comparison
      • Best Foreign Currency Debit & Credit Cards
      • Free Credit Cards
      • Low Interest Credit Cards
      • Credit Cards for Bad Credit
      • Q Card & Q Mastercard Review
      • GEM Visa Review
      • Onecard Visa Review
      • Purple Visa Review
  • Banking & Savings
    • Banking
      • Best Bank Accounts
      • Best Debit Cards
      • Best Joint Bank Accounts
      • Kids Bank Accounts
      • Cut Overdraft Costs
      • Private Banking
      • International Money Transfers
      • Open an Australian Bank Account from New Zealand
      • Open a UK Bank Account from New Zealand
    • Savings
      • Best Term Deposits
      • Booster Savvy Review
      • Best PIE Term Deposits
      • Best Call Accounts
      • Best Savings Accounts
      • Term Deposit Alternatives
    • Guides and Resources
      • Banks vs Credit Unions
      • Open Banking Guide
      • NZ Bank Prefix Codes
    • Reviews
      • Wise International Money Transfer Review
      • Heartland Bank Review
      • First Credit Union Review
      • NZCU Baywide Review
      • The Co-operative Bank NZ Review
      • Western Union Review
  • Mortgages
    • Mortgage Essentials
      • Best Home Loans
      • Mortgage Calculator
      • How Much Can I Borrow?
      • Debt to Income Ratios
      • Equity (and Leverage) Calculator
      • Mortgage Repayment Calculator
      • Mortgage Options
      • Mortgage Cashback
    • Other Mortgage Options
      • Interest-Only Mortgages Guide
      • Interest-Only Mortgage Calculator
      • Revolving Credit Mortgages
      • Offset Mortgages
      • Offset Mortgage Calculator
      • Fixed vs Floating Mortgage Rate Calculator
      • Understanding Interest Rate Swaps
      • What is the OCR?
    • Alternative Mortgage Options
      • Low-Deposit Home Loans
      • Rent to Own Homes
      • First Home Loan Guide
      • Reverse Mortgages
    • Mortgage Management
      • Saving for a House Deposit
      • Pay Off Your Mortgage Faster
      • Mortgage Overpayment Calculator
      • Remortgaging Guide
      • Mortgage Relief and Holidays
      • Amortisation Calculator
      • Mortgage Break Fees
      • Defaulting on a Mortgage
      • High Deposit Mortgages
      • Negative Equity
      • How to Manage Higher Mortgage Payments
      • Mortgage Refinance Calculator
    • Mortgage Brokers
      • Mortgage Brokers Explained
      • Trusted Auckland Mortgage Brokers
      • Trusted Hamilton Mortgage Brokers
      • Trusted Mortgage Brokers in Tauranga
      • Trusted Mortgage Brokers in Napier and Hastings
      • Trusted Mortgage Brokers in Wellington
      • Trusted Mortgage Brokers in Christchurch
    • Buying a Home
      • First Home Buyers Checklist
      • Home Buying Glossary
      • Best House Price & Valuation Websites in New Zealand
      • New Zealand Property Types
      • Rateable Value vs Market Value
      • Leasehold Property Guide
      • Conveyancing vs Lawyers
      • Buying an Apartment in New Zealand
      • Buying vs Renting a House
    • Selling a Home
      • How to Sell Your House Privately
      • Real Estate Agent Fees
      • Bridging Finance
    • Property Investment
      • Investment Property Mortgages
      • Renting Directly to Tenants vs Using an Agent
    • Building a House
      • Average Building Cost Per Square Metre
      • Cost to Build a New House
      • Buying Land to Build a House
      • Construction Loans
      • Tiny Homes in New Zealand
  • KiwiSaver
    • KiwiSaver Basics
      • Our Favourite KiwiSaver Funds
      • Is KiwiSaver Safe?
      • Choosing a KiwiSaver Fund
      • Choosing Your KiwiSaver Scheme
      • Balanced vs Moderate vs Growth KiwiSaver Funds - What is right for me?
      • KiwiSaver Must-Know Facts
      • Opting out of KiwiSaver
      • What Do I Do With My KiwiSaver When I Retire?
      • KiwiSaver Withdrawal
      • Switching KiwiSaver Funds
      • KiwiSaver Robo and Digital Advice Tools
      • Ethical Kiwisaver Funds
      • KiwiSaver Private Equity Investments
    • KiwiSaver Contributions & Tax
      • Your KiwiSaver Contributions
      • KiwiSaver Contributions - Gross or Net?
      • Employer KiwiSaver Contributions
      • Government KiwiSaver Contributions
      • KiwiSaver Savings Suspensions
      • Voluntary Contributions
      • What's My PIR?
      • KiwiSaver and Tax
    • KiwiSaver for Life Events and Specific Situations
      • Average KiwiSaver Balance by Age
      • KiwiSaver First-Home Withdrawal
      • KiwiSaver First Home Grant Guide
      • KiwiSaver Hardship Applications
      • KiwiSaver in a Divorce or Separation
      • KiwiSaver for Kids
    • KiwiSaver Schemes
      • Amanah KiwiSaver Scheme
      • AMP KiwiSaver Scheme
      • ANZ KiwiSaver Scheme
      • ASB KiwiSaver Scheme
      • AON KiwiSaver Scheme
      • BNZ KiwiSaver Scheme
      • Booster KiwiSaver Scheme
      • Fisher Funds KiwiSaver Scheme
      • Generate KiwiSaver Scheme
      • InvestNow KiwiSaver Scheme
      • JUNO KiwiSaver Scheme
      • Kernel KiwiSaver Review
      • Kiwi Wealth KiwiSaver Scheme
      • kōura Wealth KiwiSaver Review
      • Lifestages KiwiSaver Scheme
      • MAS KiwiSaver Scheme
        • MAS Review
      • Mercer KiwiSaver Scheme
      • Milford KiwiSaver Plan
      • New Zealand Defence Force KiwiSaver Scheme
      • Nikko AM KiwiSaver Scheme
      • Pathfinder KiwiSaver Review
      • QuayStreet KiwiSaver Scheme
      • Simplicity KiwiSaver Review
      • Summer KiwiSaver Scheme
      • SuperLife Review
      • Westpac KiwiSaver Scheme
    • KiwiSaver Calculators
      • KiwiSaver Calculator
      • KiwiSaver Returns Calculator
  • Business
    • Compare Business Loans
      • Business Line of Credit
      • Business Borrowing Options
      • Small Business Loans
      • Operating Leases
      • Finance Leases
      • Operating Leases vs Financing Leases
      • Prospa Business Loans Review
      • Bizcap Business Loans Review
    • Business Insurance
      • Public Liability Insurance
      • Business Interruption Insurance
      • Professional Indemnity Insurance
    • Business Credit Cards
    • Business Essentials
      • Money Saving Tips For Businesses
      • Get Debtors to Pay Overdue Invoices
      • Working Capital
      • Liquidations and Receiverships
      • Can't Make Payroll Guide
      • Buying out a Business Partner
      • Business Brokers
    • Business Calculators
      • Business Loan Calculator
      • ROI Calculator
      • IRR Calculator
      • Internal Rate of Return
      • Percent Off Calculator
      • Profit Margin Calculator
      • Current Ratio Calculator
      • Quick Ratio Calculator
    • Online Services
      • Domain Names
      • Trusted Web Designers
        • Auckland Web Designers
        • Hamilton Web Designers
        • Wellington Web Designers
        • Christchurch Web Designers
        • Tauranga Web Designers
        • Lower Hutt Web Designers
        • Dunedin Web Designers
      • Digital Identity Programs and Online Verification Tools
      • Social Media Influencer Marketing
      • PayPal NZ Account Fees
      • Paypal vs Stripe Review
      • Hnry Review
      • n3 Trade Card Review
      • Plain English Awards
    • For Startups
      • How to Start a Business in New Zealand
      • Raising Capital
      • Product Market Fit
      • Crowdfunding vs Bank Financing
      • Blackbird vs Movac
      • How to Become an Angel Investor
      • How to Raise Money from Angel Investors
      • Alternatives to VC Funding
      • Hiring for a Startup
      • VCFO (Virtual CFO)
      • New Zealand Startup and Founder Incubators
      • Expanding Offshore
      • New Zealand Invoice Template
      • Business Podcasts
  • MSD
    • Navigating Work and Income Benefits
    • Jobseeker Support Benefit Rates 2023 and 2024
    • Jobseeker Support Guide
    • Accommodation Supplement Guide
    • Disability Allowance
    • MyMSD
    • Community Services Card
    • Hardship Assistance - Urgent Costs and Living Expense Assistance
    • Loans for Unemployed
    • Working for Families Guide
    • Childcare Subsidies in New Zealand
    • NZ Superannuation in a Nutshell
    • Superannuation Rates 2023
    • Government Departments Helping New Zealanders Directly
    • COVID-19 Help
    • Food Grants Guide
    • Food Banks Directory
      • Food Banks Auckland
      • Food Banks Northland
      • Food Banks Hamilton Waikato
      • Food Banks Wellington
      • Food Banks Christchurch
  • Motoring
    • Buying and Selling a Car
      • Car Valuations
      • Buying a Used Car
      • Selling a Car
      • CarJam Review
      • CarJam vs MotorWeb Car Report Comparison
      • Top Cars that Hold Their Value
      • Vehicle Leasing
      • Car Registration in New Zealand
    • Everyday Driving
      • Costs of Owning a Car
      • 20 Ways to Make Driving Cheaper
      • Gaspy App Review
      • Parking Tickets
      • AA Membership Review
      • Best Car Batteries
      • Best Electric Cars
    • Warrant of Fitness
      • Guide to Warrant of Fitness
      • Warrant of Fitness Auckland
      • Warrant of Fitness Hamilton
      • Warrant of Fitness Tauranga
      • Warrant of Fitness Lower Hutt
      • Warrant of Fitness Wellington
      • Warrant of Fitness Christchurch
      • Warrant of Fitness Dunedin
  • Law
    • Wills Guide
    • Separation Agreements
    • Prenuptial Agreements
    • Divorce Guide
    • Trusts Guide
    • Enduring Power of Attorney Guide
    • Living Wills Guide
    • Probate
    • Agreeable Review
    • Footprint Online Wills Review
    • Perpetual Guardian
  • Job Hunting
    • Job Applications
      • CV Templates & Tips
      • Cover Letters
      • Common Interview Questions
    • Guides & Resources
      • How to Improve Your LinkedIn Profile
      • Part-Time Jobs Guide
      • Redundancy Payouts and Entitlements
      • How to Get Promoted
      • Self-Employment Guide
      • Workplace Bullying
    • Recruitment Agencies
      • Recruitment Agencies Auckland
      • Recruitment Agencies Wellington
      • Recruitment Agencies Christchurch
  • Travel
    • How to Get Access to Airport Lounges
    • Flybuys Review
    • Fastest Way To Earn Air NZ Status Points
    • How to Redeem Air New Zealand Airpoints Dollars
    • Air New Zealand Koru Membership Review
    • Air New Zealand Travel Tips
    • Air NZ Upgrade Guide
    • Airpoints Flexipay Guide
    • No Nonsense Upgrade Guide
    • Cheap Domestic Flights
    • Car Rental Hire
    • Auckland Airport Car Parking
    • First Table Guide
    • Accor Plus Review
    • Queenstown Like a Local
    • Auckland Travel for Less
    • Hotel Booking Sites Compared
    • 100+ Free Things to do in Auckland
    • Layby Flights Guide
    • Airbnb Refunds (Coronavirus)
    • Air New Zealand Refunds & Credits
    • Google Flights Guide
    • Skyscanner Guide
    • Working Holiday Visas
    • Currency Converter
    • Qatar Airways Travel Tips
    • Foreign Currency Exchange
      • Australian Dollars Exchange Rate
      • American Dollars Exchange Rate
      • British Pound Exchange Rate
      • Canadian Dollars Exchange Rate
      • Euro Exchange Rate
      • Fijian Dollars Exchange Rate
      • Hong Kong Dollar Exchange Rate
      • Korean Won Exchange Rate
      • Indian Rupee Exchange Rate
      • Japanese Yen Exchange Rate
      • Malaysian Ringgit Exchange Rate
      • South African Rand Exchange Rate
      • Singapore Dollars Exchange Rate
      • Thai Baht Exchange Rate
      • Chinese Yuan Exchange Rate
  • Broadband
    • Compare Broadband Plans
    • No Contract Broadband
    • Rural Broadband Plans
    • Internet Speed Test
    • Broadband Provider Reviews
      • 2degrees Broadband Review
      • Bigpipe Broadband Review
      • Compass Broadband Review
      • Contact Broadband Review
      • Electric Kiwi Broadband Review
      • Farmside Broadband Review
      • Flip Broadband Review
      • Mercury Broadband Review
      • MyRepublic Broadband Review
      • NOW Broadband Review
      • One NZ Broadband Review
      • Orcon Broadband Review
      • Spark Broadband Review
      • Skinny Review
      • Slingshot Broadband Review
      • Starlink Review
      • Voyager Broadband Review
      • Wireless Nation Broadband Review
  • Power
    • Compare Power Companies
    • Power and Broadband Bundles
    • How to Lower Your Power Bills
    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
    • How to Use Less Power
    • Power Companies
      • Contact Energy Review
      • Ecotricity Review
      • Electric Kiwi Review
      • Flick Electric Review
      • Frank Energy Review
      • Genesis Energy Review
      • Globug Review
      • Mercury Review
      • Meridian Energy Review
      • Nova Energy Review
      • Powershop Review
      • Z Energy Power Review
  • Financial Independence
    • FIRE Guides
      • Retirement in a Nutshell
      • How to Retire Early
      • FIRE Explained
      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
      • Getting FIRE’d in New Zealand
      • FIRE and NZ Real Estate
    • FIRE Tools
      • Budgeting Apps
      • Debt Repayment Apps
      • Free Financial Literacy Classes
      • Free Financial Products
      • 50/30/20 Budget Calculator
      • Budget Planner
    • Tax
      • Beginner's Guide to Tax
      • Salary Sacrifice in New Zealand
      • Tax Bracket Creep
      • Tax Refunds
    • Money Tips
      • 20 Things to Stop Buying to Have More Money
      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
      • Debtfix Review
      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
      • How to Maximise Income in Retirement
      • How to Handle Rising Interest Rates
      • Free Money from the Government
      • Bankruptcy Guide
      • Unclaimed Money in New Zealand
      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
      • Acupuncture Auckland
      • Arborists Auckland
      • Asbestos Removal Auckland
      • Auto Electricians Auckland
      • Bathroom Renovations Auckland
      • Builders Auckland
      • Building Inspectors Auckland
      • Cabinet Makers Auckland
      • Car Detailing Auckland ​
      • Catering Auckland
      • Cattery Auckland
      • Chimney Sweep Auckland
      • Chiropractors Auckland
      • Cleaners Auckland
      • Computer Repair Experts Auckland
      • Concreters Auckland
      • Dentists Auckland
      • Dog Boarding Kennels Auckland
      • Dog Daycare Auckland
      • Dog Grooming Auckland
      • Dry Cleaners Auckland
      • Electricians Auckland
      • Eyelash Extensions Auckland
      • Firewood Auckland
      • Flooring Companies Auckland
      • Fridge Repair Auckland
      • Garage Door Repair Auckland
      • Glaziers Auckland
      • Graphic Design Auckland
      • Gutter Cleaning Auckland
      • Gym Memberships Auckland
      • Hair Salons Auckland
      • Heat Pump & AC Specialists Auckland
      • Home Security Systems Auckland
      • Korean BBQ Auckland
      • Land Surveyors Auckland
      • Landscapers Auckland
      • Lawn Mowing Services Auckland
      • Locksmiths Auckland
      • Mechanics Auckland
      • Makeup Artists Auckland
      • Naturopaths Auckland
      • Optometrists Auckland
      • Painters Auckland
      • Panel Beaters Auckland
      • Personal Trainers Auckland
      • Pest Control Auckland
      • Plumbers Auckland
      • Podiatrists Auckland
      • Puppy School Auckland
      • Roofing Auckland
      • Scaffolding Auckland
      • Screen Printing Auckland
      • Solar Panels Auckland
      • Quality Tyres Auckland
      • Wedding Car Hire Auckland
      • Wedding Celebrant Auckland
      • Wedding Photographers Auckland
      • Wedding Videographers Auckland
      • Window Tinting Auckland
    • Wellington Trade Services
      • Arborists Wellington
      • Bathroom Renovations Wellington
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Shorting a Stock - The Definitive New Zealand Guide to Betting Against a Stock Price Rise

Our guide explains short selling, how you can short a stock and the risks associated with short selling. We'll also list important facts you need to know and the most frequently asked questions New Zealanders have when shorting stocks.
Shorting a Stock NZ
Updated 10 May 2023

Summary
  • With the democratisation of financial education and investing and an rise in interest in stock trading, there has never been a better time to learn about investing. However, with many complex markets and trades happening worldwide, it can be extremely difficult to try and understand what's happening.
  • Financial events like the Gamestop and AMC sagas surprised many, and many wonder what caused this. At the root of these fiascos was short selling.
  • In one sentence, short selling is a trading method that lets you make money as the price of a stock falls. It is highly risky and the losses can be unlimited.

Over guide covers:
  • What is Short Selling?
  • Why Do Investors Choose to Short Stocks?
  • How Can I Short a Stock?
  • Understanding the Risks of Shorting a Stock
  • Must-Know Facts
  • Frequently Asked Questions

Know This: If you want to short stocks but don't like the idea of "unlimited liability" if the price of a share rises, a selection of inverse and short ETFs are available on US markets. You can buy into these using Hatch, Sharesies and Stake. An inverse ETF is set up so that its price rises (or falls) when the price of its target asset falls (or rises) - the performance is inverse to the asset it’s tracking. For example, an inverse ETF may be based on the NASDAQ index; The ETF is designed to rise as the NASDAQ falls in value.

If you'd like to short New Zealand companies, short selling is common in Australia and many New Zealand companies list on the ASX. You can see a daily record of short sales vs total shares on issue here.

Your guide to shorting a stock is sponsored by our friends at Stake, a leading online share trading platform.
  • If you want to understand what shorting is, how you can do it and the pros, cons and risks involved, this guide helpfully explains what you need to know to make an informed investing decision. With much shorting activity happening in the US, we've focused our guide accordingly. 
  • Stake offers an easy-to-use interface, with 6,000+ stocks, ETFs & OTC stocks in the 12 US markets, and new investors get a free stock when they sign up.
  • Stake offers benefits for both long-term investors with detailed stock analysis and easy-to-use functionality, while day trading is also permitted. 
  • Helpfully, Stake lets you search for investment options by Sector, Values (Green, Virtue or Vices), Strategy (SmallCap to MegaCap, etc.), Industry and Region, and by trading data such as most up/down and most watched.
  • Trusted by thousands of Kiwis, Stake offers easily accessible US markets investing at a low cost.
Stake NZ
Visit Stake

MoneyHub Founder Christopher Walsh shares his views on shorting stocks:

"Markets move up and down, but trying to make profits by shorting stocks at any time is incredibly risky. While you may be certain that a particular company's prospects are poor, shorting it can go wrong (and lose you a lot of money) if the company becomes a takeover bid, releases positive press, turns itself around or, for any other reason, sees it share price rise".

"I believe that, for most people, it's hard to make money picking a handful of speculative 'growth' companies to invest in - often, despite the best intentions of an investor to be a long-term holder, markets catch investors out, leading to losses. However, shorting 'bad' companies' shares is a completely different strategy, and while the returns can be high, the losses can be catastrophic".  

"The cases of Gamestop (as summarised by the Financial Times here) showed that even professional short sellers could lose billions when a short goes wrong, although this was an extreme case. For this reason, if you're interested in shorting, you may want to consider an inverse or short ETF, which limits the unlimited risk and has professional management and research team.  

"Remember, the risks are significant. As the late Bryan Gaynor said in this 2018 NZ Herald column, Short selling is a risky and expensive strategy, partly because of the cost of borrowing shares. It can lead to huge losses, as well as profits".
MoneyHub Founder Christopher Walsh
MoneyHub Founder
Christopher Walsh


Shorting a Stock NZ

What is Short Selling?

  • Shorting a stock (also called short selling) is a way to profit from decreases in stock price. If you think a company's stock price is likely to drop, you can profit from this drop in price by shorting the stock (where you wouldn't otherwise be able to make money on decreasing prices if you just bought the stock). Investors with a higher tolerance to risk and speculate that a company may be suffering some short-term pressure may want to try and profit off this opportunity.
  • Short selling is a trading method that lets you make money as the price of a stock falls. The standard way people make money in the stock market is to buy a stock, wait for it to rise in price, and then sell at a profit. This strategy is known as "going long" on a stock. However, this isn't the only way to profit from stock prices. You can also "go short" on a stock.
  • Short selling happens when an investor borrows stock from another investor or a brokerage platform and sells them on the open market (meaning they owe the investor/brokerage a certain number of shares in the future). Investors do this with the expectation that the stock price will fall after they've sold the stock. If it does, the investor can buy back the same quantity of shares on the open market (at a lower price) and give them back to the investor or brokerage platform while profiting from the difference in price (from selling high and buying low).
  • While long-term investors may buy stocks they think have the potential to grow fast and become the leader in their markets, short-term investors have a different view on stocks.
  • Short selling is particularly popular with investors with much shorter time horizons, such as hedge funds and day traders. These investors may be looking at the momentum of a stock (how much it's been moving in the last few trading sessions)

Shorting a Stock NZ

Why Do Investors Choose to Short Stocks?

Investors decide to short stocks for all sorts of reasons. The most common reasons are to amplify investment returns (by taking on additional risk) and to "hedge" a position (which looks to reduce risk). We explore these in detail:

1. Short Stocks as a Way to Increase Returns
  • Investors short stocks to try and improve their investment returns when "going long" isn't enough risk/reward for them.
  • As a practical example, assume you borrow ten shares of Apple stock from your brokerage when the price of Apple's stock is $100. You then sell these ten shares for $1,000 (ten shares * $100 per Apple share), generating $1,000.
  • If the stock price drops to $50 per share after a year, you can repurchase the ten Apple shares using your $1,000 and return the ten shares you borrowed from the broker for only $500, making a $500 profit on the short sale.
  • Note that in the above example, we haven't included any interest cost you would have to pay the broker to borrow the shares. While this sounds easy enough to execute, there’s much more to consider. Shorting a stock can be rife with risk and uncertainty (which we’ll detail below). 

2. Shorting as a Way to Hedge Your Portfolio
  • Shorting a stock can also act as a "hedge", meaning that it can reduce risk in some instances.
  • For example, if you invested $1,000 into Google stock but thought investing in the US technology sector was risky, shorting can assist.
  • If you just wanted to get the benefit of investing in Google, you may decide to short $500 worth of Netflix. This trading activity would mean that your "net exposure" is only $500 ($1,000 long Google - $500 short Netflix).
  • If the whole tech sector went up, your Netflix position would suffer, but your google position would gain more than the loss on Netflix.
  • However, if the whole tech sector started to weaken, your Netflix short would partially offset the losses in the google position. 
  • From the example above, shorting can be a way to reduce volatility and exposure to the other stock market positions you hold. Investors may choose short stocks to take advantage of unique macro or microeconomic conditions without exposing themselves to too much risk.  

Shorting a Stock NZ

How Can I Short a Stock?

  • Not every investor can short stocks. To short a stock, you need to be given the right permissions from your broker. Many investors that short stocks do so through a margin account, which lets them borrow additional funds and use their stocks as collateral.
  • It's important to know that there may be restrictions on what stocks you can and can't short. Further, your account may require minimum balances for you to enter into a short position.
  • If you’re shorting stocks internationally, using global brokerage platforms such as Interactive Brokers are likely to offer the tools and support you need. Specifically, these brokerage platforms are internationally recognised, have large balance sheets and are less likely to go bankrupt if anything happens to the brokerage’s risk exposure.

Shorting a Stock on the New Zealand Stock Exchange (NZX)
  • The main way to short a stock on the NZX is to go through a broker, such as Jarden or Forsyth Barr.
  • Full-service brokers typically have the capabilities and team to support you in borrowing and shorting stocks. They also provide recommendations and research to back up your investment thesis.
  • However, most brokers will typically only work with qualified/sophisticated wholesale investors with minimum amounts you're looking to trade. In New Zealand, the NZX Participant Rules outline the key things you must meet if you're shorting a stock on the NZX. Note that the NZX can restrict or limit short-selling under certain criteria.

Your guide to shorting a stock is sponsored by our friends at Stake, a leading online share trading platform.
  • If you want to understand what shorting is, how you can do it and the pros, cons and risks involved, this guide helpfully explains what you need to know to make an informed investing decision. With much shorting activity happening in the US, we've focused our guide accordingly. 
  • Stake offers an easy-to-use interface, with 6,000+ stocks, ETFs & OTC stocks in the 12 US markets, and new investors get a free stock when they sign up.
  • Stake offers benefits for both long-term investors with detailed stock analysis and easy-to-use functionality, while day trading is also permitted. 
  • Helpfully, Stake lets you search for investment options by Sector, Values (Green, Virtue or Vices), Strategy (SmallCap to MegaCap, etc.), Industry and Region, and by trading data such as most up/down and most watched.
  • Trusted by thousands of Kiwis, Stake offers easily accessible US markets investing at a low cost.
Stake NZ
Visit Stake

Shorting a Stock NZ

Important: Understand the Risks of Shorting a Stock

Short selling is usually reserved for experienced investors. It is uncommon for retail investors (non-experienced investors) to do it unless they are fully aware of the risks and have short-selling experience. However, some ways to increase competency in shorting stocks include:
  • Courses in finance and investing 
  • Paper trading/simulated account (trading without the financial implications of real money)
  • Make short trades with real money
  • Learn from others who are experienced in short selling

The risks of short selling cannot be understated, and we highlight the most significant:

1. Losses are potentially unlimited when shorting stocks.

  • Short selling can be extremely risky if you don’t know what you’re doing. In an ordinary stock purchase, the most you can lose is the total amount you paid for the shares. So, for example, If you buy one share of Apple stock for $100 and the company goes bankrupt, your Apple stock is worth $0, and the most you've lost is $100 (the cost of your Apple stock).
  • However, your upside on buying a stock is theoretically limitless. Like the example above, Apple stock could rise to $1,000 or $10,000, meaning you can 10x or 100x your investment. This structural advantage is why "going long" and buying stocks are so powerful for long-term wealth creation. If you pick the right company, it can theoretically turn $1 into $1,000+. 
  • When you short a stock, it's the exact opposite. The maximum amount you can make when shorting a stock is 100%. For example, if you borrow 10 Apple stock at $100 (total value of $1,000) and the price of Apple stock goes to $0, and you buy 10 Apple stock at $0 (costing you $0) to give the shares back to the broker, the most you've made is the total amount of money you put in - in this case $1,000.
  • You theoretically can't make more than you put in when shorting a stock. However, your losses are theoretically unlimited. As we've established above, stock prices can continue to increase infinitely. There's no reason Apple stock can't go from $100 to $10,000. Using the example above, assume you borrow ten shares of Apple stock and sell them on the open market, where Apple stock is currently trading at $100 per share. You earn $1,000 in cash from borrowing and selling Apple stock. 
  • For example, if you were expecting the price of Apple stock to fall on the next earnings report, but unexpectedly the company performed well above expectations, and the shares skyrocketed to $500 a share. Unfortunately, because you borrowed ten shares of Apple stock, you still owe the broker those shares back, regardless of the price you pay. This borrowing means you'll have to buy the ten apple shares back for $500 a share.
  • From this example, what initially generated $1,000 now costs you $5,000 ($500 X 10 shares), resulting in a loss of $4,000. This loss, in theory, can go on indefinitely, meaning the longer you wait to buy back the shares to repay your broker, the higher the share price could go (and the more money you could lose) and the more interest you will owe to your broker.
  • If this happens, a broker might issue you a "margin call", which requires adding additional funds into the account to make sure you can pay off your debts to the broker. If you can't, your short position will likely be closed out to ensure that the broker gets their money back (you will be forced to buy back stock at whatever the current price is while you still have the cash to do so). A margin call is a short seller's worst nightmare.
  • The examples above show the inherent difficulty with shorting a stock and why a buy and hold strategy is much simpler, easier and safer. 

2. Borrowing shares costs money in the form of interest

  • It may seem insignificant relative to the risk of unlimited losses, but short selling isn't free. Brokers charge an interest rate to lend out stocks, and there are also initial short-selling costs for some securities in times of extreme uncertainty and volatility.
  • Remember that these fees can eat away any return you generate on shorting stocks. For example, if you short a stock over one year, that generates a 10% return, but the interest rate on borrowing the stock from your broker is 7%, you only earn 3% after fees.
  • So, just like you look for the lowest fee ETFs, make sure to consider the borrowing rate when shorting a stock.

Shorting a Stock NZ

Short Selling - Must-Know Facts

1. Short selling can be controversial, and many people have negative perceptions of short selling.

  • Short selling is controversial, and it's not hard to see why. An ideal scenario for a short seller is that the company they're targeting goes to zero.
  • Generally, people are uncomfortable with investors making an active bet that results in thousands of people losing their jobs and millions of dollars in value destruction and actively betting against other investors. Yet, when investors short a stock, this is what they implicitly hope happens. 
  • For example, if you had shorted Lehman Brothers stock in 2007/2008 and were confident that the stock was worthless, what ended up happening is thousands of Lehman employees lost their jobs. In addition, millions of Americans arguably lost their homes due to their practices. So while your short alone isn't likely the cause, people may still infer that you had something to do with their collapse, even if the executives at Lehman were in the wrong.
  • Short sellers have been accused of hurting businesses, manipulating public opinion and spreading rumours about a company, all to push down the stock price. In addition, many short sellers are seen as hostile in the eyes of publicly traded companies. some markets and countries have banned the practice entirely

2. Short sellers are also known for shedding light on fraudulent, poorly run or risky companies.

  • Short seller reports can add substantial value to existing shareholders unaware of what's happening in the company. Their deep research and pursuit of the truth can be seen as a positive (and even save money for shareholders who can exit the stock after the short report comes out). 
  • Some people view short sellers as an essential part of the financial markets that protect shareholders and shine a light on fraudulent companies. Others see short selling as toxic and intentionally causing hurt to thousands of shareholders, leading to lost millions of jobs. There isn't a clear consensus, but what's certain is that short selling is controversial.

3. If you're serious, you'll need to identify a clear catalyst before shorting a stock

  • If you intend to short a stock you think is fraudulent or will drop in price in the short term, the way to ensure your idea is correct is to establish an investment thesis and identify a key catalyst. An investment thesis is a central idea that your trade centres around.
  • For example, at the start of 2020, your investment thesis may have been that COVID-19 will mean the global economy is forced to go into lockdown, stunting the growth of retail, travel and hospitality businesses. This theory/thesis would lead you to short stocks in those sectors.
  • If you did this, you probably would have made a very profitable trade. However, a key catalyst (such as COVID-19) must occur in a specific timeframe. If there isn't a key catalyst, then your investment thesis may never occur.
  • Many investors that short stocks have these two components clearly articulated before they go into any short trade. If either of these things isn't established, the trade can go wrong, and you may experience large losses from your short position.

Shorting a Stock NZ

Frequently Asked Questions

We list a selection of common queries below, however short selling isn't something that many New Zealanders partake in. If there's something you don't understand but intend to short sell, we strongly suggest finding the answers to ensure you're fully informed around the risks.

Should I short stocks?

There's no right answer here. For most New Zealanders, it's arguable that the risk/reward for undertaking short selling isn't going to be worthwhile. As detailed above, the risks are extreme, and you must be comfortable taking on potentially unlimited losses. However, shorting stocks may be right for you if you are knowledgeable in an area and have identified a key catalyst and a strong investment thesis.

How risky is short selling?

Extremely risky. Short stocks are not recommended unless you're experienced, have a deep financial understanding of short selling and are comfortable taking on the level of risk associated with short selling.

What are the most common brokerages to short a stock?

If you're looking to short New Zealand stocks, going with one of New Zealand's leading brokerages like Jarden, Forsyth Barr or Craigs is likely to be an option. However, if you're looking to short overseas stocks (such as stocks on the New York Stock Exchange or the Australian Stock Exchange), international brokerage platforms such as Interactive Brokers (IBKR) (and others) will have the functionality you need. Note that many brokerage platforms will require minimum account balances, and you must undertake tests/attestations that you are experienced enough to use their products.

How does a broker calculate the borrowing rate for borrowing a stock to short sell?

Brokers typically loan stock to you at an interest rate above the current benchmark rate. This benchmark rate may be pegged to the Official Cash Rate (OCR) in New Zealand or the Fed Funds Rate in the US. They will then add their percentage margin on top as a fee (such as 1.5% or 2%) to arrive at a short selling interest rate. They may also charge an initial fee to establish the short-selling position. This fee structure will vary depending on the brokerage.

What happened to Gamestop? Was that a short-selling situation? Why did the price go up?

Gamestop started as a short position for several hedge funds on the assumption that COVID-19 would impact their business but ended up in a "short squeeze", seeing the price increase from $5 to $80 (an increase of more than 16X). It's particularly dangerous if many investors are shorting the same company simultaneously, and the "short interest" (how much percentage of the total number of shares have been shorted) gets high. 

In the case of Gamestop, the short interest became greater than 100%, meaning if the short sellers tried to close out their positions, there wouldn't be enough stock to give back to the brokers. This trade, coupled with a significant number of people on Reddit who noticed this discrepancy and started purchasing the stock, caused the price of Gamestop to rocket up from around $5 to $80 in a matter of weeks. 


This situation is what's known as a "short squeeze", where short sellers struggle to cover their positions and frantically try to buy back the stock on the open market to pay back their brokers, causing the price to go up, which leads to more pressure for others to cover their positions, and so on in a vicious cycle. This article sums up the origins and aftermath of the losses incurred by Gamestop short sellers.

How long can I hold shares that I've borrowed from a brokerage?

Once you've borrowed stock from a brokerage platform, you can hold them for as long as you want, whether that's for hours or years. However, remember that every day you hold them, you'll incur interest that you need to pay back (similar to a mortgage). The rates on borrowing stock for short selling are found on the respective brokerage websites.

Additionally, the stock market generally tends to go up over time. Therefore, the longer you hold a short position, the less likely you will profit from the trade, assuming the stock market trends upwards. This imbalance is why most short sellers have a specific timeframe (usually from days to months) when shorting a stock.

Why Would Investors or Brokerage Platforms Lend you stock?

Investors or brokerage platforms can enhance their returns from stock they already hold in their investor account by loaning the stock out to people who want to short a stock.  Ordinarily, investors or brokers will offer you their shares for a fixed interest rate (usually around 3% a year). Stake, the US-focused investing platform, offers its investors the option to lend stocks and receive an interest payment. So, for example, if you asked to borrow ten shares of Apple stock at $100 a share, totalling $1,000 for one year, it would cost you $30 to borrow these shares for the entire year (3% of $1,000).

Your guide to shorting a stock is sponsored by our friends at Stake, a leading online share trading platform.
  • If you want to understand what shorting is, how you can do it and the pros, cons and risks involved, this guide helpfully explains what you need to know to make an informed investing decision. With much shorting activity happening in the US, we've focused our guide accordingly. 
  • Stake offers an easy-to-use interface, with 6,000+ stocks, ETFs & OTC stocks in the 12 US markets, and new investors get a free stock when they sign up.
  • Stake offers benefits for both long-term investors with detailed stock analysis and easy-to-use functionality, while day trading is also permitted. 
  • Helpfully, Stake lets you search for investment options by Sector, Values (Green, Virtue or Vices), Strategy (SmallCap to MegaCap, etc.), Industry and Region, and by trading data such as most up/down and most watched.
  • Trusted by thousands of Kiwis, Stake offers easily accessible US markets investing at a low cost.
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