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Sharesies vs Hatch vs IBKR Fee Calculator

Compare annual platform fees and FX costs across Sharesies, Hatch, Interactive Brokers, and Jarden Direct. Includes FIF tax (FDR 5%) over $50k threshold.

By Konstantin IakovlevPublished 28 March 2026Last reviewed
Data stays on your deviceIRD sourced data

About this calculator

This calculator implements platform fee schedules + IRD FIF (FDR 5%) rules from Sharesies / Hatch / IBKR / Jarden + IRD FIF. Last consulted 18 May 2026. Verify the figures yourself by following the link.

NZ investment platform fees

Mid-2026 fee schedules
  • •Sharesies subscription: $5/mo (free under $50)
  • •Sharesies transaction fee: 0.5%
  • •Hatch transaction fee: US$3/trade
  • •Interactive Brokers: US$1 min/trade, 0.02% FX
  • •Jarden Direct (NZ shares): $30 min/trade
  • •FIF threshold (FDR 5%): NZ$50,000 cost basis

Source: IRD — Foreign Investment Funds

Disclaimer

This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available IRD data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.

How NZ platform fees + FIF tax stack up

Platform fees vary by structure (subscription vs %), FX, and minimum trade. FIF tax applies above $50k foreign holdings.

  1. 1

    Subscription fees

    Annual_sub = monthly_sub × 12 (Sharesies $5/mo if balance > $50)

    Hatch/IBKR have no subscription.

  2. 2

    Transaction fees

    TxCost = max(min_per_trade, trade_size × tx_%)

    Sharesies 0.5% per trade. Hatch US$3. IBKR US$1 min.

  3. 3

    FX cost on contributions

    FX = annual_contrib × fx_rate (Sharesies 0.50%, Hatch 0.75%, IBKR 0.02%)

    IBKR wins for high-FX users.

  4. 4

    FIF tax (above $50k)

    FIF_tax = balance × 5% × marginal_rate (FDR method)

    Deemed 5% return × your marginal rate, regardless of actual.

Worked example

Inputs: $50k Sharesies, $10k/yr contrib, 33% PIR

Result: Sub $60 + tx ~$50 + FX $50 = $160/yr platform. FIF tax (just over threshold): $50k × 5% × 33% = $825/yr.

Frequently Asked Questions

Which platform is cheapest for NZ investors?
For small balances (<$50k), Sharesies' $5/mo subscription + 0.5% transaction fee is competitive. For larger balances or US shares, Interactive Brokers (IBKR) is cheapest with $0 subscription, $1/trade minimum, and 0.02% FX. Hatch has no subscription but charges US$3/trade. Jarden Direct is for active NZ market traders. Sources: heaps.nz broker comparison.
When does FIF tax apply to my investments?
FIF (Foreign Investment Fund) tax applies when you hold more than NZ$50,000 (cost basis) in foreign shares. Below $50k, foreign shares are taxed only on dividends like NZ shares. Above $50k, the default method is FDR (Fair Dividend Rate) — IRD assumes a 5% return × your marginal rate, regardless of actual performance. NZ-domiciled funds (NZX-listed, KiwiSaver) are exempt from FIF. Source: IRD — FIF.
Do I need to file a tax return with Sharesies or Hatch?
Generally yes if you hold foreign shares. (1) NZ shares only via Sharesies/InvestNow — usually no return needed; PIE-structured funds handle tax at 28% PIR (or your declared rate). (2) Foreign shares under $50k cost basis — you pay tax on dividends only; declare on IR3. (3) Foreign shares over $50k cost basis — FIF rules kick in. Use FDR method: deemed 5% return × your marginal rate, regardless of actual performance. Must file IR3 with FIF schedule. Sharesies, Hatch, and IBKR provide end-of-tax-year statements to make this easier. If you only invest through KiwiSaver, no separate return needed — the scheme handles it. Penalty for not declaring: late filing $50-500 + interest on unpaid tax. Source: IRD — Foreign Investment Funds.
Can I use KiwiSaver to invest in international shares?
Yes — and many NZ KiwiSaver providers offer this. Growth funds typically hold 65-85% in international equities (US, Europe, Asia) automatically. Top-rated international-tilted funds: Simplicity Growth, Generate Focused Growth, Booster Socially Responsible Growth, Milford Active Growth. For thematic exposure (clean energy, tech), check Pathfinder, Kōura, and InvestNow's KiwiSaver wrap. Advantages over Sharesies/Hatch: PIE tax structure caps at 28% (vs 33-39% marginal); employer 3.5% match; government $260.72 contribution. Disadvantages: locked until 65 (with first-home and hardship exceptions); fund manager fees ~0.5-1.5% p.a. Source: Sorted KiwiSaver Fund Finder + MoneyHub.

The investment platform fee calculator compares what Sharesies, Hatch, Interactive Brokers, and Jarden Direct actually cost per year for your portfolio size and contribution pattern — including FX fees and the FIF tax that applies above NZ$50,000 of overseas shareholdings.

How this calculator works

Platform fees look tiny but compound against you exactly like returns compound for you. The calculator prices three components per platform. Subscriptions: Sharesies charges up to $5/month while Hatch and IBKR have none. Transaction fees: Sharesies takes 0.5% per trade, Hatch a flat US$3, IBKR from US$1, Jarden Direct a $30 minimum for NZX trades. FX: converting NZD for US shares costs 0.50% on Sharesies, 0.75% on Hatch, and about 0.02% on IBKR — the decisive factor for regular contributors. Separately, once the total cost of your overseas shares passes NZ$50,000, the FIF regime applies: under the fair dividend rate (FDR) method you are taxed on a deemed 5% return at your marginal rate regardless of actual performance. FIF tax is identical on every platform, so minimise the fees you can control and understand the tax you cannot.

NZ platform fee schedules (mid-2026)

Sharesies$5/mo subscription (free under $50) + 0.5%/trade + 0.50% FX
HatchUS$3/trade + 0.75% FX, no subscription
Interactive BrokersFrom US$1/trade + ~0.02% FX
Jarden Direct (NZX)$30 minimum per trade
FIF thresholdNZ$50,000 cost of overseas shares
FIF FDR methodDeemed 5% return × your marginal rate

Fee schedules change — verify on each platform before deciding; FIF applies per person, not per platform.

Worked Examples

$50,000 portfolio on Sharesies, contributing $10,000/year, investor on a 33% marginal rate

Platform costs ≈ $160/year; FIF tax at the threshold ≈ $825/year — tax dwarfs fees.

  1. Subscription: $5 × 12 = $60
  2. Trades: $10,000 × 0.5% = $50
  3. FX on contributions: $10,000 × 0.50% = $50 → platform total ≈ $160
  4. FIF (FDR): $50,000 × 5% × 33% = $825

Same portfolio and contributions via Interactive Brokers (12 trades/year)

Platform costs ≈ $22/year — but FIF tax stays $825; total saving vs Sharesies ≈ $138/year.

  1. Trades: 12 × ~US$1 ≈ NZ$20
  2. FX: $10,000 × 0.02% = $2 → platform total ≈ $22
  3. FIF is platform-independent: $825 either way
  4. Fee gap compounds: $138/year invested at 7% ≈ $1,900 over a decade

Built and maintained by Konstantin Iakovlev. Data sourced from the IRD and official New Zealand government sources.

Last reviewed:

Official Sources

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