Best Stock Market App NZ 2024

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.

New Zealand’s Top Stock Market Apps

Here’s an overview of the best stock apps to consider in 2020. To find out more about a particular app – scroll down.

1. Plus500 – Commission-Free CFD Trading App – CFD Service. Your capital is at risk
2. IG – Trusted NZ Stock Market App With Over 17,000+ Markets
3. Saxo Bank – Best Stock Market App for Experienced Traders

Best NZ Stock Market Apps Reviewed

With so many online brokers now offering fully-fledged stock market apps – knowing which provider to go with can be difficult. Crucially, you need to look at what the share broker itself offers before taking the plunge. For example, how much does the broker charge to buy stocks, and what NZ payment methods does it support? You also need to look at the types of stocks you will have access to and what licenses the app holds.

To help clear the mist, below we discuss five of the best stock market apps available to New Zealand traders.

1. Plus500 – Commission-Free CFD Trading App

Plus500 is a specialist CFD trading platform that offers thousands of financial markets. This covers stocks from heaps of markets – including New Zealand. Additionally, you can also trade CFDs in the form of ETFs, indices, interest rates, commodities, forex, and more. In particular, New Zealand traders like Plus500 for its commission-free offering.

That is to say, you can trade assets by only paying the spread. In terms of its mobile app – this is available to download for free directly from the Plus500 website. You will then be redirected to the Google Play or Android store – depending on your device.

Once you have the app installed, you will be able to deposit funds instantly with your NZ debit/credit card or Paypal. Bank account transfers are also an option, but this can take several takes to process. Once you are all set up, the Plus500 trading app allows you to apply leverage of up to 1:30.

Additionally, all markets on the Plus500 trading app allow you to choose from a long or short position. This gives you great flexibility and ensures that you have a chance of profiting from both rising and falling markets. Finally, the platform’s regulatory standing is as follows: Plus500AU Pty Ltd (ACN 153301681), licensed by ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.

Pros:

Cons:

CFD Service. Your capital is at risk

2. IG – Trusted NZ Stock Market App With Over 17,000+ Markets

IG is one of the oldest online brokerage houses from the UK stock trading scene. With that said – it has hundreds of thousands of account holders for all corners of the world – including that of New Zealand. As such, NZ residents can open an account at the click of a button. Before we get to the IG stock market app, it is important to note that the platform has one of the most extensive asset libraries in the space.

This is because you will have access to over 17,000 markets – all of which are in the form of CFDs. In terms of shares, this covers dozens of international stock exchanges. Most importantly, you can also trade share CFDs from the New Zealand Exchange. Each and every CFD market at IG can be traded with leverage. The amount you have available to you will depend on the asset class and whether you are a retail or professional trader.

Much like the other stock market apps we have discussed thus far – IG also allows you to choose from a buy or sell order. Fee-wise, IG allows you to trade all CFD instruments commission-free – apart from stocks. This is because stock CFDs come with a small variable commission that varies depending on the market. For example, US stocks cost 2 cents per tradable share, while UK stocks cost 0.10%.

In terms of compatibility, the IG app is available on both iOS and Android. However, the iOS version does not permit deposit/withdrawals, nor does it allow you to set up pricing alerts. The Android version does not come with any restrictions – meaning that all features/tools found on the main IG website are accessible. In terms of the specifics, IG allows you to deposit funds with an NZ debit/credit or bank account. The app is heavily regulated – including licenses with ASIC and the FCA.

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3. Saxo Bank – Great Stock Market App for Experienced Traders

If you’re based in New Zealand and already possess experience in stock trading – you might want to consider the Saxo Bank application. This Denmark-based broker is hugely popular with seasoned investors that you will have a range of advanced features and tools at your disposal.

For example, the SaxoTraderGo app – which is available on Android and iOS devices, allows you to see up asset-specific news alerts. For example, if you have holdings in Spark and Apple – you can elect to receive a notification on your phone when a relevant news development is published.

There is also live market updates and commentary – posted directly by the Saxo Bank in-house traders. When it comes to sophisticated trading tools – Saxo Bank offers margin and leverage, alongside heaps of market orders. You will also have access to 50+ technical indicators and chart drawing tools.

The app offers access to over 36 global exchanges – which covers stocks, ETFs, futures, options, CFDs, forex, and more. In particular, Saxo Bank lists over 19,000 equities – which is huge. In terms of pricing, stock commissions start from just $3 per investment. If you decide to trade stocks via CFDs, spreads start from just 0.4 pips. Finally, Saxo Bank is heavily regulated – not least because it is a licensed financial institution with a global presence.

Pros:

Cons:

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. 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.

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.
• 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.

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.

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.

FAQs