Immediate Nextgen New Zealand has been flagged by Financial Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I wanted to transfer my portfolio from another broker to Immediate Nextgen New Zealand. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Low minimum deposit|Competitive fees
Cons: Nothing significant|No phone support on weekends
I joined Immediate Nextgen New Zealand from a review site like this one and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Multi-currency support|Excellent charting|Easy withdrawals|Dividend tracking
Cons: Inactivity fee applies after 12 months|Withdrawal takes 1-2 business days
The reporting at Immediate Nextgen New Zealand is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Educational resources|Portfolio tracking tools|Regular platform improvements|Professional team
Cons: Limited cryptocurrency options