Best Stock Market App NZ 2023
If you’re looking to actively buy and sell shares online – you’ll likely want to obtain a stock market app, too. This will allow you to access the markets no matter where you are, subsequently allowing you to place trades at the click of a button.
Additionally, the best stock market apps in New Zealand allow you to set up pricing alerts and even receive relevant financial news stories direct to your phone.
In this guide, we discuss the best stock market apps currently available to New Zealand residents. We’ll also explore what factors you need to consider before downloading a stock market app – such as fees, commissions, tradable shares, regulation, and payments.
Your capital is at risk.
How to Choose the Best Stock Trading App for You
Although we have hand-picked a selection of the best stock market apps for you, it is still advisable for you to do your own research. This will ensure that your chosen trading app is 100% suited for your personal investment goals. Additionally, there might come a time when you’re tempted to use a new stock market app that we have previously critiqued.
Regulation
Your first port of call should be to check the regulatory standing of your chosen app. Don’t forget – all stock market apps are provided by traditional online brokers – so they must be in receipt of a license if they wish to accept NZ traders. All five of the apps that we have discussed on this page hold at least one license from a tier-one body. This includes the likes of the FCA, ASIC, and CySEC. Ultimately, if you come across a stock market app that isn’t regulated by a reputable body – avoid it.
Stock Assets
You then need to explore the app to see what stocks it gives you access to. For example, if you are looking to invest in companies listed in the US or UK – your best bet is going to be eToro. Alternatively, if you want to trade companies listed on the New Zealand Exchange – Plus500 and IG are great options to consider.
Fees
It goes without saying that you need to have a firm understanding of what fees your chosen stock market app charges. At the forefront of this are commissions and spreads. The former is a fee that you will pay every time you buy, sell, or trade a stock.
Other than IG and Saxo Bank, all of the stock market apps that we have discussed on this page allow you to trade in a commission-free manner.
Additionally, you should also look at ad-hoc fees. For example, some stock market apps charge a deposit and/or withdrawals. You should also look at whether you will incur any FX charges and if the app has an inactivity fee policy in place.
Platform & Usability
Most investors in New Zealand will buy and sell shares on their standard desktop device – as this generally offers a better all-round trading experience. After all, stock market apps will need to be accessed on a much smaller screen size.
With that said – if and when you get around to using your chosen app to place orders – you’ll want the user experience to be as seamless as possible.
As a result, you’re better of sticking with apps that are easy and straightforward to use. In our view, eToro offers to best all-around mobile investment experience – as each and every feature has been optimized for your specific operating system.
Trading Tools & Features
The best stock market apps in New Zealand give you access to a plethora of useful tools and features. Some of the most notable are listed below:
- Fractional Ownership: This allows you to buy a ‘fraction’ of a share. This is especially handy if you want to buy US stocks like Facebook, Apple, or Tesla that are priced in the hundreds of dollars. This feature is available on the eToro app.
- Leverage: All of the stock market apps listed on this page allow you to trade with leverage. For those of you with a higher appetite for risk, Plus500 offers leverage of up to 1:30.
- Pricing Alerts: Pricing alerts will notify you when your chosen stock hits a specific price. For example, if you might want to trade Facebook shares the very minute it hits $500.
- Copy Trading: This feature allows you to copy an expert trader. Each and every position they place will be mirrored in your personal portfolio. eToro is undoubtedly a market leader in this space – with more than 13 million investors using the app.
As always, you can check what features and tools the stock market app will offer before you open an account.
Device Compatibility
Most stock market apps are designed for both Android and iOS phones – as collectively, these operating systems dominate 99%+ of the smartphone space. However, there might be a slight disparity in available tools and features depending on the operating system.
For example, the IG app on Android comes with all account features, while the iOS version does not permit deposits or withdrawals. As such, make sure that your chosen stock market app is fully compatible with your respective operating system.
Demo Account
It’s always a good idea to stick with providers that offer a demo account facility. The best stock trading apps usually give you a pre-loaded ‘paper’ balance that allows you to trade stocks in a 100% risk-free manner. Not only does this allow you to build your trading knowledge – but also get to grips with the app in question.
Similarly, seasoned traders like stock apps that come with demo account facilities because it allows them to test out new ideas and strategies.
Payments
For those of you who look to trade with real money, you will need to ensure that the app supports your chosen payment method. In New Zealand, the best stock market apps for Android and the best stock apps for iPhone support local debit/credit cards and e-wallets. This will allow you to deposit funds instantly and usually – fee-free.
The vast majority of top stock market apps also allow you to deposit funds via an NZ bank transfer. But, this can take 2-3 working days to clear. In addition to supported payment methods, you should also check what the app’s withdrawal policy is. For example, there might be a minimum amount that you can withdraw.
Customer Service
Although most traders in New Zealand are able to use stock trading apps without needing assistance – that won’t be the case for everyone. As such, you’ll want to access a top-notch customer support team. We find that the best stock market apps allow you to speak with a live support agent via live chat.
This ensures that you can resolve your query no matter where you are. Failing that, some stock market apps offer a telephone support line. At the other end of the spectrum, some apps only offer customer service via email or a support ticket. Irrespective of your trading skillset – you should probably avoid such apps.
How to Get Started with a Stock App?
Based in New Zealand and looking to get started with the best stock portfolio app right now? If so, we are going to walk you through the setup process with eToro.
As we covered earlier, this heavily regulated stock market app offers over 1,700+ shares from 17 international markets – all of which can be invested in or traded commission-free. By meeting a minimum deposit amount of $300-ish NZD and using an instant payment method – you could make your very first mobile share purchase in less than 10 minutes.
Step 1: Visit the eToro Website and Download its Stock Market App
Visit the eToro website through your mobile web browser. Then, download the app by clicking on the Google Play/Apple Store image. In doing so, you will be directed to the official download page.
Although you might be tempted to search for the app straight from the respective app store – it’s best to this via eToro. This will ensure that you do not download a ‘fake’ version of the app and thus – you can be 100% sure your sensitive financial information is protected.
Step 2: Open a Stock Market Trading Account
As soon as you have downloaded and installed the app onto your phone, eToro will ask you to open an account. Here, you will be asked to enter some personal information and contact details.
- Full Name
- Country of Residence
- Home Address
- Date of Birth
- NZ Tax Number
- Contact Details
- Username and Password
eToro will also need to verify your identity. All you need to do is take a picture of your NZ passport or driver’s license, alongside a recently issued bank account statement or utility. In most cases, the app will be able to verify your documents in less than a couple of minutes.
Step 3: Deposit Funds
While your documents are being validated, you can proceed to make a deposit. This needs to be at least $200 USD – which is about $300 NZD. You can choose from a debit/credit card, e-wallet, or bank account transfer (not instant). Take note, as you are funding your account in a currency other than USD – you will incur a small FX charge of 0.5%.
Step 4: Trade or Buy Stocks
As soon as you have funded your eToro stock market app, you can then start trading. To show you how straightforward the process is, we are going to illustrate what you need to do to buy Apple shares through the app. Firstly, we need to enter ‘Apple’ into the search and click on the subsequent result that pops up.
Next, you will see an order box – much like the one below. By default, this will be a ‘buy’ order without leverage – meaning that you are purchasing the underlying asset outright. If this is what you want to do – then it’s just a case of entering your stake. This needs to be at least $50 USD.
To complete your eToro stock purchase, click on the ‘Open Trade’ button.
The Verdict
By reading our guide on the best stock apps of 2020 – you should now have a clearer picture as to which provider is suited for your financial goals. We have also shown you the many factors that you need to look out for prior to making choosing the best stock trading app for you – such as those surrounding fees, regulation, and tradable shares.
With that said – if you want to start trading today via your mobile phone – we would suggest checking out eToro. This FCA, ASIC, and CySEC-regulated broker allows you to invest in other 1,700+ shares, 150+ ETFs, and 16 cryptocurrencies without paying any commission. You won’t need to pay any monthly fees and you can instantly deposit funds with a variety of popular NZ payment methods.
To complete the 10-minute process of opening an account depositing funds, and placing an order – simply click on the link below!
eToro – Overall Best Investment App with 0% Commission
75% of retail investor accounts lose money when trading CFDs with this provider.
FAQs
What is a stock market app?
A stock market app allows you to buy and sell shares via your mobile phone. The application will be backed by a regulated brokerage house that also offers trading via its main desktop website.
What are the best stock market apps for Android?
This depends on what your financial goals are. If you are looking to buy and sell shares in a simple and cost-effective manner -eToro is going to be the best option on the table. Alternatively, if you're looking to place more sophisticated stock trades with high levels of leverage - you might want to consider Plus500.
Are stock market apps safe?
Yes - stock market apps are safe - but this is on the proviso that the app is backed by a regulated broker. As we noted earlier, your chosen app should hold a tier-one license - such as those issued by ASIC more the FCA.
Can you trade real money on a stock market app?
Yes - you will be using a stock market app that is provided by an online brokerage house. As such, you will be trading with real money. You can typically fund your account with a debit/credit card, e-wallet, or bank wire.
What is the cheapest stock market app?
eToro is generally perceived to be the most cost-effective stock market app in the space. This is because there are no monthly or annual fees, no sign up fees, and most importantly - no trading fees.
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