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Table Of Contents
New Zealand Forex Brokers
We have reviewed numerous forex brokers in New Zealand, there are the top 3 brokers which have met our quality guidelines and accept residents of New Zealand. We recommend the following:
FXTM – FXTM was founded in 2011 in Europe. They are currently headquartered in Cyprus but offer services in forex trading and many other assets to traders around the world. They have fast become one of the top forex brokers in the entire sector.
The FXTM minimum deposit starts from just $10 depending on your account type. This means trading is high accessible through FXTM for all level of trader. Added to this, they are an extremely well-regulated broker with the support of multiple respected bodies including CySEC in Europe, and the FCA in the UK.
This trusted regulation, a competitive range of trading costs, and the availability of more than 250 assets to trade, continue to make FXTM a popular choice for all.
eToro is one of the biggest names in the industry as far as the forex market is concerned. They have been operating since 2007, and have become a household name around the world thanks to their excellent, top-tier regulation, and the unbeatable trading experience they offer to those looking to get involved in social trading or forex.
They now have locations worldwide and offer services to more than 7 million traders across hundreds of countries including all of New Zealand.
eToro are extremely well-regulated by top-tier bodies around the world. These bodies include CySEC in the EU which makes the broker fully ESMA compliant, as well as the FCA in the UK, and ASIC in Australia.
BDSwiss was founded in 2012. Since that time they have grown to become a major forex broker who now offer trading services in more than 180 countries worldwide including New Zealand. They are also have regulatory oversight in place from a number of trusted bodies in the industry including CySEC.
BDSwiss is also a very well-decorated broker having collected a number of awards particularly in recent years as they have expanded their industry presence. Being recognized as providing one of the best trading platform applications, as well as for their positive trading conditions and environment has helped them greatly in continuing to improve their profile among traders.
Regulation in New Zealand
Regulations in New Zealand are fairly straightforward.
The broker needs to comply with all of the rules that are set by FMA (Financial Markets Authority).
The broker also needs to be registered with the FSPR (Financial Service Providers Register). If you find a broker and they do not accept investments from residents of New Zealand, it is most likely because they are not registered. Should any investors have complaints these can be filled with FSCL agency or Financial Services Complaints, that handles complaints of all brokers based in New Zealand.
What is the FMA (Financial Markets Authority)?
The Financial Markets Authority is the government agency responsible for regulation of financial markets in New Zealand.
They take a risk-based approach to the monitoring and surveillance, they prioritise resources to those participants or practices that present the greatest risk to fair, efficient and transparent financial markets.
They have a range of tools available to deliver a timely, effective and proportionate response to identified non-compliance.