- Best Forex Brokers
- Broker Reviews
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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:
Vantage FX – This is a well-trusted international broker offering an excellent all-around service to traders. They work hard to provide and maintain a very safe trading environment, and provide a good level of accessibility to traders at all levels with their competitive fees and minimum deposit requirements.
This reputable broker offers both of the leading trading platforms MT4 and MT5. This means you can have access to the webtrader, desktop, or mobile variations of these trading platforms through this broker. Both platforms are award-winning for the functionality they provide, including a technical depth and prowess that makes them suitable for new and experienced traders alike.
You will have access to dozens of charting tools and indicators across all variations of the platform that prioritizes the ability to customize your trading experience. On mobile, the platforms are equally as powerful with access to the same detailed functions in an easy-to-use app.
Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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.
Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
AvaTrade is a top choice for New Zealand residents, While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector.
A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced NZ traders.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.
Warning: Trading Forex/CFD & Options on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite.
Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
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.