Hatch Omdömen 6

Kevin Borg's experience from 2022 experience still applies.
Add on:
-Make a will
- Good for impulse buyers as it takes 2-3 working days to get the money
- Good place to stash your money. You don't have to invest all the money; you can park it up, inflation does not decrease the dollar's value overtime.
- They do all the tax stuff with the US which you sight and approve yearly. They complete the necessary NZ tax documents, and advice you of the necessary steps
- All communication is with fellow kiwis
- If you have no prior experience with investment like me. Hatch has an easy short online course.
- Browsing stocks is simple, each has a link to Yahoo finance and a link to the company's financial reports
- it's only USA stocks

Investment tip: FOMO is not the go here!
For beginners make Investopedia your bible!

I've been using them for a while now and in the main are happy with their service, their interface is simple to use (much more so than other platforms such as Tiger) and trades are managed super quick. Two negatives are you can't trade options and their 2FA is flaky.

UPDATE: It turns out the issues I was having with 2FA disappeared when I changed from 2 Degrees as my mobile provider. One other point in regards to the initial setup, yes it is somewhat laborious but worth it.

Hatch refunded my money and closed my account because I didn’t reply to the 2 emails they sent requesting information about how I earned the money I had recently put in. They wanted proof of an inheritance, or a bank statement showing I had the money in there, even though the money was transferred from our jointly owned bank account. The same way we usually did. At no time did Hatch phone me, even though they have clients phone numbers. As it happened I hadn’t checked my emails for a while because it was an older less preferred email account. Hatch only gave me a week anyway. It was high handed and despicable behaviour from a financial institution. At no time in the enrolment process was I told of the policy of dredging for proof of financial information if they think too much money arrives suddenly.( By the way it was only 18k.) I later found out about this policy in a hard to find corner of their website. It went something like this: We may request proof of inheritance or financial information such as bank statements and details. There were other issues but this was the worst.

I read the previous reviews from two years ago and was cautious with the brokerage. They've given me perfect customer service with obvious fees. They don't try to steal every last penny from you and my account is, as far as I know, owned solely by me. Hatch does a great job at what they do and I'm happy to use their platform.

Hi Pilots,

I've been using HATCHINVEST because I wanted to build a US Stock Portfolio for my daughter as my Gift to her for later in life.

I have several Online Broker A/C's, NZ, AUST, US. After Testing, I chose HATCHINVEST for these reasons.

1) KIWIS ONLY: That really appealed to me, just like home cooking.

2) US SPECIALIST: They only focus & trade in "ONE" Service, US Stocks, ETF's & ADR's, ~ which is exactly what I wanted.
Being a Retired Business Owner, a single product focused company, from my experience is normally a very powerful & extremely efficient, dedicated solely to Client Service, Execution & Satisfaction, in fact to be honest with you it's a lot more than satisfaction, they go out of their way to impress you with product and service, continually!
I can say from experiencing them, I absolutely love them, they have never let me down.

3) EXCHANGING NZ$ > US$
I can send a direct debit to Hatch at 2am on a weekday morning, Hatch emails me back within hrs that same day, lets me know they have it, money is exchanged into US$ that afternoon, my account is credited with US dollars that night ready for trading before the US Market opens at 1.30am.
Very fast, Very efficient & 0.5% exch rate is more than fair.
I can Withdraw Funds anytime I want, processing normally takes about ~2 days to get to my bank.

4] GENUINE HUMAN SUPPORT:
I wanted genuine personal support & communication if I needed it & when I needed it. "No Bots"!
I find them useless, in-personal, 90% of the time they fail, one modern tech that frustrates me most.

Please don't take this type of service for granted, a lot of the time it is not as standard as you think. In fact 2 big name companies I used, never replied after 5 weeks, I gave up & closed my accounts.

This is one of my biggest pet peeves, and being a Business Owner & Winner of ( 7 ) 1st Place Business Awards, I learnt, over time, thru many mistakes, failures and restructuring, what it takes to be the best at something, so to me it is totally unacceptable and inexcusable.

You talk fast, You take my money, You better pick up that Phone when I call, or reply to my Email, or I'm off.

Sounds unfair & too tough to a lot of people, I get that, but in today's business world, that is only the entry standard, to turn Customers who buy once, into long term Clients, who repeatedly spend, continually increase their average spend amounts, stay years & refer, takes a lot more dedication and levels goes up from there.

Hatch has never let me down, I've sent many emails with questions etc, I always get a reply either the same day or the next, I mean that. Their replies are Human, Personal, Knowledgeable and answer all my queries, I can't ask for more than that.

5) LIGHTNING FAST TRADES:
Being in NZ, markets in US, they need very fast dedicated Fiber Networks, called "Direct Access Trading (DAT) Systems"

The problem with average, run-of-the-mill online brokers is they suffer from atrociously slow order execution. Which means a loss of potential profit, especially if yr a Day Trader, seconds really do matter.

6) TRADE TIME:
From the time I click the Buy Button, then Back Arrow, to go back to my portfolio, is 1-2 seconds!

My new Stock is already sitting in my Portfolio, Portfolio $ Totals auto updated, cash account has been adjusted, I'm good to go again,
*2 seconds, most times less*.
Quite Amazing, Impressive & Extremely Efficient.

7) TRADE FEES:
You can buy up to 300 shares of a Stock for a $3 flat rate. If you buy more than the 300, it costs you $0.01 a share extra. If you buy an extra 1000 shares, total trade cost is $3+$10=US$13, very acceptable, a lot cheaper than some I've used.
* No Monthly Subscription Fees,
* No Minimum Investment amounts.
* You can Buy Fractional Shares, if you cant afford a $1500 stock, buy $50 worth, simple and easy.

8) US BROKERAGE ACCOUNT:
You get yr own US Brokerage a/c, thru their Partner, DriveWealth, with protections in place which Insure yr Account for up to $500K included, if DriveWealth ever crashes.
*US TAX: You Pay a (Once Off) US $1.50 Tax on yr first deposit, then $US 0.50 Cents once a year, that covers yr US Tax filings.
*If yr Kiwi citizen, you don't pay US Capital gains Tax.
* Kiwis can Invest up to a Total NZ$50K, in Foreign Investments (Costs) Tax Free. Profits are excluded. If you make an extra $NZ10K over that, it's Tax Free.
* You can Earn up to NZ$200 from Dividends Tax Free.
* NZ & US Tax Reports are Current, Updated Daily & available in yr account.
* You only Pay NZ Income Tax when you sell. Any Profit is added to yr Yearly Income & taxed as normal.

I hope this helps you in making a choice.

I chose KIWI ;)

I have No hesitation whatsoever in giving
HATCHINVEST (5 ***** ), they Impress me time & time again, Friendly, Outstanding at their job and they sincerely deserve it.

Thanks Hatch Team "AAAA"

Cheers
Kevin Borg
Kiwi Investor

HORSE AND PONY SHOW. Deposited money still hasn't cleared after a week onto my account. Want to buy shares but account shows no transactions or even pending transactions when other page confirms my deposit. Can't get hold of anyone to talk to, despite the claim of 24/7 contact. No response on email or chat either. Horse and pony show. Don't bother. 0 stars.