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Kernel Wealth Review
Kernel Wealth is a New Zealand index fund and KiwiSaver platform, not a forex broker. It is FMA licensed and lets Kiwis invest from just one dollar.
Min Deposit
NZD $1
Spreads From
0.25% p.a. fund fee
Max Leverage
Not applicable, Kernel does not offer leveraged trading
Platforms
2
Pros
- Holds a real FMA licence as a managed investment scheme manager since 2019
- No membership fee and no fund minimums on the free Core plan
- Fast growth to over 4 billion dollars in funds under management by 2026
- Clear, published fee tiers instead of hidden spreads or commissions
Cons
- Not a forex or CFD broker, there is no leverage or currency pair trading
- The free Core plan charges a relatively high 1.50 percent FX fee on US shares
- Lower FX fees only come with a 50 or 150 dollar a year paid plan
- Limited to Kernel's own funds, KiwiSaver, and savings, no outside assets
Kernel Wealth is a New Zealand investment platform founded by Dean Anderson, a former NZX and Smartshares employee. Kernel Wealth Limited holds an FMA licence as a managed investment scheme manager, granted in August 2019. It runs low cost NZ and global index funds plus a KiwiSaver scheme, launched in April 2022 after first saying it would stay out of KiwiSaver.
Kernel charges no membership fee on its free Core plan, with fund and KiwiSaver fees from 0.12 to 0.50 percent a year. Paid Plus and Premium plans cost 50 or 150 dollars a year and cut the currency fee on US shares from 1.50 percent to 0.60 or 0.40 percent. By May 2026, Kernel passed 4 billion dollars in funds under management and over 1 billion in KiwiSaver alone.
This is not a forex or CFD broker, there is no leverage and no currency pair trading beyond the FX fee on buying US shares. Kernel only offers its own index funds, KiwiSaver, and savings accounts, so it suits long term investors more than active traders.
Min. Deposit
USD 1
Max Leverage
Not applicable, Kernel does not offer leveraged trading
Spreads From
Fund fees from 0.12% p.a., no brokerage fee
Platforms
Regulators
Platforms
- FMA (New Zealand)
