Hatch investment service?

[Jonboyz]

Saw this on the news today and checked out their website (owned by same owners of Kiwibank). It's a shame they don't disclose what products they have access to unless you register.
https://www.stuff.co.nz/business/money/107323211/kiwi-wealth-unveils-fintech-startup-hatch-to-help-kiwi-investors-buy-us-companies

Website: https://www.hatchinvest.nz/

Here are their fees:


Brokerage fees:

When you buy or sell shares or ETFs from your Hatch account, you pay a brokerage fee that we split with our US broking partner, Drive Wealth:

• To buy or sell a fraction of a share: $3 USD
• To buy or sell one or more shares: $0.02 USD a share
  There's an $8 USD minimum fee, so up until you buy 400 shares, you'll be paying a flat rate of $8 USD on every order.

Exchange fees:

An 0.8%* fee is included in the exchange rate you see in Hatch. Our fee is lower than what most banks charge (which is usually about 1%). We split this fee with our FX partner World First. It works like this:

• Base exchange rate (Interbank rate): 1 NZD = 0.67 USD
• Hatch rate: 1 NZD = 0.662 USD (0.67 - 0.008)
• Bank rate (estimated): 1 NZD = 0.660 USD (0.67 - 0.01)

Brokerage fees seem pretty good. If I read this right, you could buy, for instance, 399 Amazon.com shares (worth >$200,000) and still only have to pay $8 USD in brokerage fee?!

One disadvantage i see here is that they do not provide a foreign exchange account, forcing you to accept the current day's exchange fees immediately on transaction.