NZ Broker Comparison 2026 for Dividend Investors
How do major NZ brokers compare for dividend investing?
There is no single broker that suits every investor — the right choice depends on trade size, market access, registration preferences and account features. For small dollar-cost-averaging amounts, fractional-share platforms like Sharesies and Hatch have low minimums. For larger trades, flat-fee NZ brokers like ASB Securities and Jarden Direct often have a lower per-trade cost. InvestNow consolidates managed funds and ETFs in one account. Craigs and Forsyth Barr offer advised accounts. This is general information, not a recommendation — confirm fees with each broker before opening an account.
- •Fractional-share platforms: Sharesies, Hatch, Tiger Brokers NZ
- •Lowest flat published NZX fee (April 2026): ASB Securities ($15 online)
- •Advised / full-service: Craigs, Forsyth Barr, Jarden Wealth
- •Consolidated fund access: InvestNow
NZ brokers at a glance
| Broker | NZX fee | Fractional shares | DRP | Often chosen by |
|---|---|---|---|---|
| Sharesies | 1.9% on first $100, 0.5% thereafter (capped at $25) | Yes | No — cash dividends only | Investors making small regular buys; fractional-share users |
| Hatch | Tiered; ~US$3 NZX flat (check live pricing) | Yes (for US shares) | Limited | Investors focused on US shares; lighter NZX use |
| ASB Securities | $15 per trade (online, NZ shares) | No | Yes (direct-register) | Investors making $1,500+ trades; direct NZX registration |
| Jarden Direct | $29.90 minimum, tiered | No | Yes (direct-register) | Investors wanting full-service NZ features and research tools |
| Tiger Brokers NZ | 0.03% NZX (min $2), similar for ASX | Yes (US shares) | Limited | Active traders; those needing multi-market access |
| InvestNow | $0 platform fee; fund MERs apply | Via funds | N/A (fund reinvestment) | Investors consolidating managed funds and ETFs in one account |
| Craigs Investment Partners | Full-service pricing; advised accounts | No | Yes | Clients wanting advised portfolios with larger balances |
| Forsyth Barr | Full-service; tiered | No | Yes | Clients using advised accounts and research-led investing |
Fees quoted are headline amounts as of April 2026 and subject to change — always confirm current fees directly with each broker.
How to choose a broker
Rather than picking the broker with the lowest headline fee, work through these four filters in order:
- Ownership structure. Do you want shares in your own name (direct-registered) or held via a custodian? Direct-registered gives you voting rights and DRP access; custodian is simpler to manage across many small positions.
- Fee structure vs your typical trade size. Percentage fees (Sharesies-style) are cheap for small trades, expensive for large trades. Flat fees (ASB Securities) flip the trade-off. Work out your likely annual trade size and run both models.
- Market coverage. NZX only, or also ASX and US? Adding ASX/US usually introduces FX costs, which can dwarf transaction fees for small trades.
- Features that matter for dividends. DRP support, imputation credit statements, clean end-of-year IR reporting, and fractional reinvestment can all matter more than a few dollars in fees.
Related reading
- Which is the cheapest NZ broker for dividends?
- How to buy NZ shares (step-by-step)
- NZ dividend tax guide
- Imputation credits explained
General Disclaimer
Frequently asked questions
Which NZ broker has the lowest published fees for small dividend trades?
Based on fee schedules publicly advertised in April 2026, Sharesies, Hatch and InvestNow typically charge the lowest dollar fee on NZX trades under $500, because their fees are percentage-based with low minimums. For trades above roughly $1,500, flat-fee brokers such as ASB Securities often result in a lower dollar fee per trade. Fee schedules change — always verify live pricing with the broker before opening an account. This is general information, not a recommendation.
Which NZ brokers offer a dividend reinvestment plan (DRP)?
DRPs are offered by the listed company, not the broker. Direct-registered shareholders can typically opt into a company's DRP via the share registry (Link Market Services, Computershare, MUFG). Some custodial brokers (Sharesies at the time of writing) don't currently pass through company DRPs — shareholders receive the cash dividend instead. If DRP access matters to you, a direct-registered account structure is one option to consider. Check each broker's current rules directly.
Can I hold NZX shares in my own name instead of on the broker's nominee account?
Yes — traditional brokers such as ASB Securities, Jarden Direct, Craigs and Forsyth Barr can register shares in your name via the NZX clearing system. Fractional-share platforms like Sharesies and Hatch typically use a custodian / nominee structure, meaning you hold beneficial ownership via their trust. Both structures are legal in NZ. Direct registration generally provides voting rights, company-sent annual reports, and direct DRP enrolment. The right structure depends on your preferences.
Do NZ brokers charge annual fees on top of transaction fees?
Most do not charge a separate annual account fee. InvestNow has no account fee, but the managed funds held through it carry their own MERs; some full-service advised brokers charge annual portfolio-management fees (typically 0.5%-1% p.a.) on top of transaction fees. Always read the current fee sheet before opening an account.
Can I buy ASX shares through an NZ broker?
Yes. Sharesies, Hatch, Tiger Brokers NZ, Jarden Direct and ASB Securities all offer ASX access at the time of writing. Fees and FX conversion costs vary. If ASX trading is a primary use case, comparing the AUD/NZD FX spread is as important as comparing the headline transaction fee.