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  1. #71
    Senior Member
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    Jan 2015
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    That means shares should be ok? Just take times to sort it out?

  2. #72
    Junior Member
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    Oct 2017
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    Quote Originally Posted by tipsy View Post
    Just spoke to a source, apparently segregated and insured(obviously all frozen at the moment though), gutted and didn't see it coming, only found out yesterday.
    I'm 100% cash (in US$) with Halifax, anyone have an idea where my account stands?

  3. #73
    Junior Member
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    Nov 2016
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    4

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    I started reading the Hatch T&C, found a few things a little offputting,would appreciate some feedback on the reality

    1) they don't seem to offer much assurance re FX rates on transfer, (sort of "well it may happen today, then again it may not, and you'll take what we give you") perhaps making arbitrage money; can anyone comment?

    2) the US broker they use Drivewealth, talks about "Sweeping" your cash management account and using your unused cash for money market speculation, which you may or may not benefit from, they seem vague on that; anyone have any feedback on whether or not that affects their cash management fund availability?

    I must admit their unwillingness to make commitments on those aspects does worry me.

  4. #74
    ShareTrader Legend bull....'s Avatar
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    Jan 2002
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    auckland, , New Zealand.
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    10,993

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    Quote Originally Posted by DonQ View Post
    I started reading the Hatch T&C, found a few things a little offputting,would appreciate some feedback on the reality

    1) they don't seem to offer much assurance re FX rates on transfer, (sort of "well it may happen today, then again it may not, and you'll take what we give you") perhaps making arbitrage money; can anyone comment?

    2) the US broker they use Drivewealth, talks about "Sweeping" your cash management account and using your unused cash for money market speculation, which you may or may not benefit from, they seem vague on that; anyone have any feedback on whether or not that affects their cash management fund availability?

    I must admit their unwillingness to make commitments on those aspects does worry me.
    not vague to me. they invest unused funds for there benefit mostly in the cashsweep facility.
    i would be more interested to know if hatch guarantees these funds if drivewealth loses money from there cash sweeping.
    drivewealth terms say they dont guarantee any funds but have insurance.
    you would need to ask hatch if they just act as a middle man and really your doing business with drivewealth. if so hatch is just a ticket clipping operation
    one step ahead of the herd

  5. #75
    Advanced Member Entrep's Avatar
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    Mar 2008
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    1,859

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    I'm giving Hatch a go. They seem ultimately owned by Kiwibank / NZ Govt so am sure we will be OK.

    Anyone else have more insights?

  6. #76
    Legend peat's Avatar
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    Aug 2004
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    Whanganui, New Zealand.
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    Quote Originally Posted by Entrep View Post
    I'm giving Hatch a go. They seem ultimately owned by Kiwibank / NZ Govt so am sure we will be OK.

    Anyone else have more insights?
    they sure look interesting. I'm signed up but haven't committed funds yet.
    Sadly I have virtually no exposure to the US markets and the next few months seems like a good time to alter that, except of course the exchange rate is poor.
    I was just reading some Craigs output and they are big fans of the US economy Iit was the only geographical sector they were actually positive on.
    But I will be pretty cautious , competing with Wall Street wont be easy.
    For clarity, nothing I say is advice....

  7. #77
    Legend peat's Avatar
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    Whanganui, New Zealand.
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    there is always Craigs, if you're happy to pay handsomely for the privilege I guess.
    A couple of years ago it was getting harder to go offshore.... no one wanted to do it because of all the hassle - its quite amazing to me how Hatch seem to have taken all the pain away. Maybe they bought Maxigesic from AFT
    For clarity, nothing I say is advice....

  8. #78
    Junior Member
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    Sep 2017
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    hi, i believe Stake are opening in NZ next week - access to US markets

  9. #79
    Advanced Member Entrep's Avatar
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    Mar 2008
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    As an update to this I've opened an Interactive Brokers account for my family trust in about 4 business days total

  10. #80
    Member
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    Jun 2011
    Location
    Wellington
    Posts
    106

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    I've been using them for 10 years + without an hitch. Mentioned it a number of times on this forum.

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