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  1. #81
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    Quote Originally Posted by smpl View Post
    I've been using them for 10 years + without an hitch. Mentioned it a number of times on this forum.
    Same here. Been a happy user for some time. They also also have great exchange rates so I tend to use them for transferring NZD into AUD for my NABtrade account.

  2. #82
    Senior Member Entrep's Avatar
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    Quote Originally Posted by kiwico View Post
    Same here. Been a happy user for some time. They also also have great exchange rates so I tend to use them for transferring NZD into AUD for my NABtrade account.
    Better than TransferWise?

  3. #83
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    Quote Originally Posted by Entrep View Post
    Better than TransferWise?
    As you can place a limit order, yes.

  4. #84
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    Quote Originally Posted by NOCASH View Post
    Stake is a good platform just joined.

    https://hellostake.com/referral-prog...er=tuckyews289 Both of us will get a free stock
    Just tried signing up but it's asking me for another referral/access code

  5. #85
    Senior Member Entrep's Avatar
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    These platforms make their money on FX conversion fees right?

  6. #86
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    I see today that Sharesies appear to be working towards adding US Shares..
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  7. #87
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    Quote Originally Posted by nztx View Post
    I see today that Sharesies appear to be working towards adding US Shares..
    I could never understand the workings of Sharesies on how they manage their US ETFs on the FIF taxation issue. How are they addressing the 5% FDR on an annual basis and how would that apply to clients that may frequently buy and sell US based shares?

    Look at the case of buying NZ based managed funds that simply buy the US Vanguard ETF. When you go through a NZ broker, you have their set fees and commissions but the worse is the annual mgt fees by the NZ fund managers for merely just buying the Vanguard ETF. In comparison, I a person that has a US brokerage account, buys the same US Vanguard ETF and pays Vanguard's ultra low avg mgt of 0.08% per year. Are NZ based brokers and managed funds charging a huge fee for the administration to track FIF / FDR for all their clients?

  8. #88
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    Quote Originally Posted by SBQ View Post
    I could never understand the workings of Sharesies on how they manage their US ETFs on the FIF taxation issue. How are they addressing the 5% FDR on an annual basis and how would that apply to clients that may frequently buy and sell US based shares?

    Look at the case of buying NZ based managed funds that simply buy the US Vanguard ETF. When you go through a NZ broker, you have their set fees and commissions but the worse is the annual mgt fees by the NZ fund managers for merely just buying the Vanguard ETF. In comparison, I a person that has a US brokerage account, buys the same US Vanguard ETF and pays Vanguard's ultra low avg mgt of 0.08% per year. Are NZ based brokers and managed funds charging a huge fee for the administration to track FIF / FDR for all their clients?
    Early days yet to they launch - will have to see what they are doing to address each of areas, with US Shares
    & how competitive they are on what they intend offering

    US Shares are bound to be popular in places

    Personally I've stayed away from ETF's even on NZX - probably have to invest some time
    looking at these in the future
    ... the fine art of sniffing out debits & credits hidden under the carpet can pay dividends ...

  9. #89
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    Whanganui, New Zealand.
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    Quote Originally Posted by SBQ View Post
    Are NZ based brokers and managed funds charging a huge fee for the administration to track FIF / FDR for all their clients?
    They may be charging huge fees (no comments from me) but I doubt they are tracking FIF for their clients. Hey someone tell me if I'm wrong but they will leave all tax matters for the client to deal with. Which is of course the advantage of PIEs where you are all good.
    For clarity, nothing I say is advice....

  10. #90
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    Quote Originally Posted by Laughing Buddha View Post
    Feel free to use my referral link for Stake: https://hellostake.com/referral-prog...rer=shuhuac343
    Access code: NZFounderRIx1
    We can both get a free stock! (Nike, Dropbox or GoPro)

    I have started to use Stake and it is much cheaper than Hatch and easy to use. In Stake you can do unlimited free trades, commission free! All US Stocks and ETFs seem to be there. Would recommend
    Thank you!

  11. #91
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    Quote Originally Posted by peat View Post
    They may be charging huge fees (no comments from me) but I doubt they are tracking FIF for their clients. Hey someone tell me if I'm wrong but they will leave all tax matters for the client to deal with. Which is of course the advantage of PIEs where you are all good.
    I don't know myself. Can any Sharesies clients add that when they buy say their ETF such as their USF US500 fund, that Sharesies issues them a tax receipt so the client can file their tax return? If not, then there needs to be some transparency under FIF. If you look at IRD's website, they have all sorts of complications under FIF such as 'quick sale calculations' for those that frequently trade in the year. Surely, the managed funds and PIE funds are under the same FIF rule when they buy & sell foreign shares. Would the individual that buys US shares directly (upcoming in Sharesies promotion) be under the same paperwork and hassles? Again, need to be transparent.

    Traditional NZ brokers like MacQuaires, Forsyth Barr, etc. issue tax statements. They are also charging high management fees on account value to reflect this. So the client pays high commissions for buying or selling, + pays a % on top for the total value of their assets invested. This is by far a huge difference to US brokers where most have gone a $0 based commission for share trades, and they certainly don't charge a monthly account fee on the total assets involved. If the clients are serious about trades and want additional investment news about the markets, they can pay a subscription fee.

  12. #92
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    Last edited by kiora; 11-06-2020 at 08:00 AM.

  13. #93
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    Quote Originally Posted by NZT View Post
    hi, i believe Stake are opening in NZ next week - access to US markets
    You already have Hatch. They're both just DriveWealth technology customers.

  14. #94
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    Quote Originally Posted by kiora View Post
    Interesting thanks for posting.

    They are listed on the NASDAQ and have some big backers, Xiaomi, Jim Rogers and Interactive brokers.

    Allow purchases in HK for only 0.029% commission and a HKD15 platform fee which is a nice option to have.

  15. #95
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    Quote Originally Posted by kiora View Post
    I opened an account to try out however it is clearly designed for the Chinese market as some of the interface was in Chinese or broken English which i'm not very comfortable in using although they do have a very quick and helpful English speaking email and phone support from their office in Auckland.

    The lady on the phone also mentioned that they are working to bring NZX and ASX trading onto the platform later this year which was interesting.

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