HatchHatch
US$3 flat per trade for the first 300 shares; US$0.01 per additional share after that. FX 0.5% on NZD↔USD (one-way). Per-trade fee capped at 1% of order value. No monthly account fee.
Source: Hatch pricing page
Updated Reviewed monthly
Hatch vs Stake
HatchHatch
NYSE/NASDAQ
US$3 per trade (≤300 shares) · 0.5% FX · 1% order-value cap
StakeStake
NYSE/NASDAQ
US$0 trades · 0.7% FX (free Stake Black tier optional)
Side-by-side comparison for NZ investors — fees, FX, markets, custody, tax structure.
Side-by-side
Fees, markets, and structure
| Feature | Hatch | Stake |
|---|---|---|
| Markets supported | NYSE/NASDAQ | NYSE/NASDAQ |
| Per-trade fee summary | US$3 per trade (≤300 shares) · 0.5% FX · 1% order-value cap | US$0 trades · 0.7% FX (free Stake Black tier optional) |
| FX margin | 0.5% | 0.70% |
| Minimum deposit | NZ$0 (US$1 to invest) | NZ$0 |
| Custody model | Nominee (DriveWealth-linked) | Nominee |
| NZ tax structure | Direct (FIF on holdings > NZ$50K) | Direct (FIF on holdings > NZ$50K) |
| Regulator | FMA | FMA / ASIC |
| Fees verified | 2026-05-25 | 2026-05-25 |
Fee detail
Hatch
StakeStake
Standard: US$0 trades, 0.7% FX. Stake Black: 0% FX above tier minimums.
Source: Stake pricing page
Suited for
Hatch
NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI)
- + No monthly fee
- + Clean US-focused interface
- + Free kids-account auto-invest
- − US markets only — no NZX or ASX
- − No fractional shares
- − Higher FX fee than IBKR
Stake
Frequent US-share traders who hate per-trade fees
- + Commission-free
- + Fast execution
- + Decent mobile app
- − US markets only
- − FX fee is on the high side at standard tier
Reviewed against each platform's published rate card on the verification date. Verify with the platform before opening an account or transacting.
FAQ
Common questions: Hatch vs Stake
Hatch vs Stake — what is the main difference?⌄
Both are US-only platforms for NZ investors. Hatch charges US$3 flat per trade with 0.5% FX. Stake charges $0 brokerage (commission-free) but 0.7% standard FX. For small/medium trades, Hatch is typically cheaper on total cost; for very frequent trading where the per-trade brokerage adds up, Stake comes out ahead. Both require W-8BEN for the 15% NZ-US treaty withholding rate on US dividends.
Hatch vs Stake — which is cheaper for US ETFs?⌄
It depends on trade size. Hatch (US$3 flat + 0.5% FX) is cheaper for trades up to ~US$1,500 because the per-trade $3 is fixed while Stake's 0.2% extra FX margin compounds with size. Above ~US$1,500 per trade, Stake's commission-free pricing becomes more attractive. Both have similar dividend-withholding treatment under the NZ-US tax treaty.
Does Stake or Hatch support fractional shares?⌄
Stake supports fractional buys from small dollar amounts. Hatch orders are whole shares only — you can't buy a fraction of a unit. Fractional support matters most for high-per-share-price ETFs (e.g. BRK.B, MKL) and for dollar-cost-averaging into ETFs without rounding cash to whole-share amounts.
Can I transfer holdings from Hatch to Stake or vice versa?⌄
Direct in-kind transfers between Hatch and Stake are typically not supported because they use different custody arrangements (DriveWealth vs Drivewealth-tier custody). The standard route is to sell on one platform and rebuy on the other, which can trigger FIF cost-basis events. Take tax advice before consolidating.
Hatch vs Stake KiwiSaver?⌄
Hatch offers a KiwiSaver scheme owned by Fisher Funds. Stake does not currently offer a KiwiSaver scheme. If KiwiSaver bundling matters to you, Hatch is the only option of the two.
