10 Best Forex brokers in New Zealand (January 2023)

10 Best Forex brokers in New Zealand (January 2023)

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There is a huge benefit that FX traders from New Zealand enjoy. In 2008, it and Australia entered into a trade agreement, according to which companies licensed in one of the countries can offer their services into the other. This extends to Forex brokers as well – and so, you are free to deal with any firm, licensed across the Tasman sea. And the companies which offer their services under the oversight of the Australian regulatory regime are among the best brokers out there. Of course, you can also stick to firms licensed domestically. Either way, New Zealand has a lot of competitive brokers operating within, so here is an up-to date list of the best among them as of January 2023:

1. FXCM

LicenseASIC, CySEC, FCA, FSCA
Minimum deposit$50
Trading platformsMT4, NinjaTrade, Zulu Trade, Trade Station
Maximum leverage1:30
SpreadFrom 0.4 pips

FXCM is an innovative and reliable Forex broker, licensed in many leading markets. As you can see, the broker allows access to several unique platforms – NinjaTrade, Zulu Trade and Trade Station. They allow you to make use of interesting and unique tools – Zulu Trade supports copy trading, for instance. Of course, the industry-standard Metatrader 4, relied upon by many traders, is also available with this firm, if you do not feel like stepping out of a comfort zone. We can earnestly recommend the broker – between its tight spreads and low entry costs, there is something FXCM offers for any of its clients!

2. TMGM

LicenseFMA, ASIC, VFSC
Minimum deposit$100
Trading platformsMT4, MT5, Iress
Maximum leverage1:500
SpreadFrom 0 pips

TMGM is a broker, focused on delivering an excellent service to traders from the Pacific. The company has a license with the domestic New Zealand FMA. It also holds one with the ASIC. One benefit of trading with this company is the access to higher leverage. ASIC-licensed brokers can offer lower margins as of 2020. They are limited to 1:30. However, FMA-licensed firms have no such restriction. Therefore, with TMGM you can use a leverage as high as 1:500. Note that there is a higher risk when trading at lower margin and you can suffer a wipeout of your funds. However, if you know what the risks are, this broker can offer you this high-stake mode of trade!

3. FP Markets

LicenseASIC, CySEC
Minimum deposit$100
Trading platformsMT4, MT5, Iress
Maximum leverage1:30
SpreadFrom 0 pips

Thirdly, we have FP Markets – an Australian Forex broker which offers a very sophisticated Copy trading service. We mentioned this service above as well – but what is Copy trading? It is a tool that allows you to track the best performing traders on the platform offered by the broker. You can see their profits, losses and so on. Then, FP Markets allows the trader to start opening the same positions as that particular trader. This is especially beneficial to newer clients who have not developed their own strategies on how to best tackle the markets as of yet, and need some guidance.

4. FBS

LicenseASIC, CySEC, IFSC, FSCA
Minimum deposit$10
Trading platformsMT4, MT5, FBS Trader
Maximum leverage1:30
SpreadFrom 0 pips

FBS is another broker which certainly deserves a mention on our list. Its excellent trading conditions and tight regulation mean funds are safe with the firm and you can easily profit from trading with it. At the same time, it also offers innovative ways to trade. One of them is the FBS Trader app – a mobile platform. Most such platforms are not all that sophisticated – they usually just allow you to open and close trades. The one this firm has available though also lets you use TA tools like indicators. The main advantage of using the proprietary software of a broker when trading is the ability to easily top-up your account or withdraw, while being on the go.

5. IG

LicenseASIC, NFA and CFTC, FCA, MAS, JFSA, BaFIN and more
Minimum depositNo minimum requirement
Trading platformsMT4, IG platform, Pro RealTime
Maximum leverage1:30
SpreadFrom 1 pips

If you are looking to trade Shares, IG is certainly the broker of choice for you. As you can see from the table above, the company is regulated across multiple countries, making it a safe place for your money. What’s more, its reach extends to the States’ markets – and so, clients of the broker are able to trade shares of US companies at zero commissions. Some of the most desirable shares you can trade can be found with IG under these unbeatable conditions. Also, Australian shares can be traded at a very low commission – $5. Of course, Forex, Commodities and other asset classes are also available with the leading broker.

6. Plus 500

LicenseFMA, ASIC, FCA, MAS, ISA, FSB
Minimum depositNo minimum requirement
Trading platformsPlus500 platform
Maximum leverage1:30
SpreadFrom 0.6 pips

Plus500 is a broker which has departed from offering any kind of common trading platform. Instead, it relies on its own software, bearing the name of the firm. This is rather bold, because it can turn away clients who are accustomed to utilizing Metatrader 4 and MT5, cTrader and so on. However, the platform it does have available is actually on par with the software we listed. That is because it has a clean interface and useful analytical abilities. For instance, you can use Plus500 to quickly track the sentiment of other traders towards a certain asset – and from there on you can decide how to approach it.

7. CMC Markets

LicenseFMA, ASIC, FCA, IIROC
Minimum depositNo such requirement
Trading platformsMT4, Next Generation
Maximum leverage1:33
SpreadFrom 0.7 pips

CMC Markets is another domestic Forex broker which offers an excellent service to the client from New Zealand. Of note with this company is the focus it has on analyzing the markets and offering its clients comprehensive and useful information to better their trading. The broker partners with 3 professionals, with a combined experience of the Forex markets spanning over 50 years. The broker also maintains a daily News section which contains information on impactful market events and more. If you wish to be a competitive FX trader, you need to keep your finger on the pulse of the markets – and with this company, you can do just that!

8. OANDA

LicenseASIC, NFA and CFTC, IIROC, SFC HK,, JFSA
Minimum depositNo such requirement
Trading platformsMT4, TradingView
Maximum leverage1:30

The next broker, OANDA is another global entity which spans almost the entire globe. The company maintains an office in Australia too – and it is the ASIC-licensed subsidiary clients in New Zealand will deal with. What makes this particular firm stand out is the fact it does not set a minimum deposit requirement, across its many subsidiaries. The lack of such a condition is perfect for traders who are cautious and do not wish to invest a substantial amount of money from the get-go. While they are usually able to open micro accounts, these could have certain additional restrictions to them, which is not the case with OANDA.

9. Fortrade

LicenseASIC, CySEC
Minimum deposit$100
Trading platformsMT4, Fortrader
Maximum leverage1:30
SpreadFrom 1.5 pips

Fortrade is another Forex broker with a focus on simplifying the markets for its clients. There is an emphasis on new traders, who will enjoy the streamlined look of its proprietary platform, Fortrader. It can allow them to use some basic charting tools, but it comes short as far as automated trading is concerned. That is where the distribution of MT4 Fortrade offers steps in. The platform will allow the more experienced traded to use the tools they are accustomed to. Overall, Fortrade is a great all around broker – easy to use and non-pretentious, yet boasting decent trading conditions. We can recommend the company to almost any trader.

10. Ava Trade

LicenseASIC, IIROC, CBI, JFSC
Minimum deposit$100
Trading platformsMT4, MT5, AvaOptions
Maximum leverage1:30
SpreadFrom 0.9 pips

Ava Trade is a broker which focuses on delivering good trading conditions to its clients across several different platforms. If you are interested in Options, there is a great mobile app it has for that. The app, called AvaOptions contains sophisticated risk-management tools and indicators of volatility. And if you are after conventional CFD trading, Metatrader 4 and MT5 are both available with the company. On them you will be able to access hundreds of assets, use EAs and charting tools. For clients who wish to benefit from Social trading, the perks of which we examined above, there is another piece of software. It is called DupliTrade and is very user-friendly and transparent.

 


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