Interactive Brokers

Is anyone using Interactive Brokers in New Zealand?

Are we able to use IB here, or is it only offered in Australia?

Hi Grunter,

Yip I use IB here (NZ) but only for international securities (mainly ASX) as IB don't support NZX securities. The base currency is in NZD which I have to transfer to AUD (through the platform) in order to purchase ASX securities.

Was fairly straight forward to open and easy to communicate with their Aussie office during the process.

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Originally Posted by McGinty

Hi Grunter,

Yip I use IB here (NZ) but only for international securities (mainly ASX) as IB don't support NZX securities. The base currency is in NZD which I have to transfer to AUD (through the platform) in order to purchase ASX securities.

Was fairly straight forward to open and easy to communicate with their Aussie office during the process.

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I tried it for a small period of time and will most likely revert back to it again soon.

It is useful when trying to buy overseas stocks, especially outside of the usual supported stocks on ANZ and ASB platforms.

Thanks McGinty, Dej,

Good to know IB don't offer NZX securities!

Hi All,
I have just setup a new Interactive Brokers account. Is there any other way to transfer NZD to the IB account other then a wire transfer? My bank charges me $30 a transfer.
Thanks
B

Quote:

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Originally Posted by bigbz

Hi All,
I have just setup a new Interactive Brokers account. Is there any other way to transfer NZD to the IB account other then a wire transfer? My bank charges me $30 a transfer.
Thanks
B

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Where are you transferring it from ? If it is NZ $ and you are here ,I think they may have a NZD account you can pay into ? Call them.

Thanks Stoploss, Just called them. Seems like no other way to deposit NZD funds apart from a wire transfer. This may change in the future.
Yes I am based in NZ
Anyone else found the same thing?

I have an account with ANZ in NZ and they charge $18 for a International Transfer if done via Internet Banking.

However I do all my International Transfer with OFX/NzForex who charge $12 for small transactions and nothing for $10,000+, and their ex-rates are marginally better.

Have a look into it.

Best Wishes
Paper Tiger

Quote:

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Originally Posted by bigbz

Thanks Stoploss, Just called them. Seems like no other way to deposit NZD funds apart from a wire transfer. This may change in the future.
Yes I am based in NZ
Anyone else found the same thing?

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Did you set an account directly through IB?

You can open an account with Halifax that links to your IB among other things and xfers should be free to that account.