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21/09/2020 11:34a.m.
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We designed our Join Direct Broking app to make it quick and easy for you to open your account. The app guides you through simple steps to prove your identity, verify your bank account and provide essential tax details.

Please note: The Join Direct Broking app is not used for trading but is only used for account openings. Once your account is opened please log in to your account on our website to place your first trade. See here for further instructions on how to fund your CMT and instructions here to guide you through completing your first trade with us.


Opening your account

How long will it take to open my account?

It should take just 10 to 15 minutes to complete the application process. We will process your application within 48 hours and contact you by email when your account is ready for investing. You can then log in to your account and make your first investment

I need to invest right away?

No. As part of our security checks, you will be asked about your investment plans, but there is no obligation to invest right away

Can I use the app to make an investment?

The Join Direct Broking app is designed only for the purpose of opening your account and verifying your identity. When you are ready to invest, visit www.directbroking.co.nz and log in to your account to place your order.

How much does it cost?

There is no fee for opening your Direct Broking account. To learn about our investment rates, click here


Verifying your identity

How will you verify my identity?

We are focused on ensuring the Direct Broking platform is safe and secure for all our clients. That’s why we use greenID to biometrically verify the identities of all applicants and protect you against fraud

When you register with the Join Direct Broking app you’ll be asked to photograph your passport or driver’s licence, then take a selfie with your smartphone. The app uses greenID’s facial recognition software to match your ‘real time’ image with the photograph on your identity document.

This information is kept confidential and used only for the purposes of verifying your identity, complying with relevant laws (including laws relating to anti-money laundering and countering financing of terrorism) and to prevent fraud or other criminal activity. For more information about our privacy policy, click here.

What if the app fails to verify my identification?

Make sure you photograph your passport or licence on a dark, neutral background, away from a window or overhead lighting which can cause glare

Try using an alternate form of identification (your New Zealand or Australian passport, or your driver’s licence)

If the app still fails to verify your identification, you can post us original, certified copies of your passport or driver’s licence. The app will guide you through these steps

How do I confirm my bank account details?

Please send us a bank statement showing your name and the account number you provided. We accept scanned documents and electronic files.

Email your bank statement to us at info@directbroking.co.nz, stating your application reference number. We cannot verify your bank statement without your application reference number.

How do I prove my address?

If the app cannot match a record of your home address, you will be asked to prove your address by emailing us:

  • A utility bill or,
  • A document issued by a New Zealand government agency or,
  • A residential rental agreement or,
  • A document from a New Zealand bank*.

This document must contain your name and your current home address.

Email your document to us at info@directbroking.co.nz, stating your 4-digit application number which would have been emailed to you when you started your application. We cannot process your application without your reference number.

*Please note, this cannot be the bank statement used to verify your bank account details. You must send us a separate document as proof of address.


Tax details

What tax details will I need to provide?

To open an account with Direct Broking, you must provide your New Zealand IRD number, as well as any offshore tax details for the last 12 months (such as a Taxpayer Identification Number (TIN) or Individual Taxpayer Identification Number (ITIN))

If you’re a US tax resident you may need to provide additional tax details. Click here for more information.

I don’t know my tax bracket

You can find your New Zealand tax bracket on the Inland Revenue website. Please consult your accountant or tax adviser if you have further questions.

I don’t know my CSN, FIF election or PIR

When you register with the app, you can save time by providing your Common Shareholder Number (CSN), your Foreign Investment Fund (FIF) election or your Prescribed Investor Rate (PIR).

Don’t worry if you do not have your CSN, FIF election or PIR to hand. You can still open an account and provide the details later.

Everyone who invests on the NZX requires a Common Shareholder Number (CSN). If you haven't invested in shares before, a new CSN will be created for you when your Direct Broking account is opened.

A foreign investment fund (FIF) is an offshore investment held by a New Zealand-resident taxpayer. You will need to elect which tax method applies to your FIF holdings. How you determine your FIF method is shown here. How the FIF rules apply is shown here

A PIR is the tax rate used for a multi-rate portfolio investment entities (MRP) uses to work out tax on the income from your investment. Portfolio investment entities include the subset of managed funds called exchange traded funds (ETFs) offered on the Direct Broking website. Please follow this link to work out your PIR https://www.ird.govt.nz/toii/pir/workout/


More Information

Legal Documents

Check out our:
Broker Disclosure Statement
Terms of Use
Terms & Conditions
Privacy Policy


Still stuck?

The Direct Broking client support team is here to help. Call us on 0800 805 777 Monday to Friday between 8am and 6pm. You can also send an email to info@directbroking.co.nz