With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test. Trading forex currencies in New Zealand NZ is popular among residents. The FMA's website is fma. For a historical breakdown, here's a link to Financial Markets Authority webpage on Wikipedia.
To find the best forex brokers in New Zealand, we created a list of all FMA authorised brokers, then ranked brokers by their Overall ranking. Here is our list of the top forex brokers in New Zealand. Compare New Zealand authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below.
This broker list is sorted by the firm's ForexBrokers. The standard account is designed for beginners with just a spread charged and no commissions. This simpler cost structure makes it easier to calculate trading costs for novice traders. With no commissions charged, the spreads are wider than other accounts, which is why experienced traders rarely choose this option.
This account is best for traders wanting the lowest spreads available to retail traders. Spreads start from 0. Which low spreads and low commissions costs this account an excellent choice for scalpers and high-volume traders. Spreads for this account start from 0.
BlackBull offers the two best forex trading platforms based on popularity, MetaTrader 4 and MetaTrader 5. Below shows that while MetaTrader 4 is the older trading software of the two, it remains the choice for forex trading vs MetaTrader 5 which is designed for CFD trading. This includes the use of the NY4 Equinix data centre in New York to connect you with their liquidity providers. However, to ensure you get the fastest possible execution for your trades, Blackbull can also connect you with fully functional servers in London, Japan, Hong Kong and Shanghai where the proximity may be better for your location.
Other enhancements to their forex trading platform include the add-ones of ZuluTrade and Myfxbook for social trading. The enhances the forex trading platform execution speed to as low as 1ms. BlackBull was founded in NZ and uses Auckland for its headquarters. This is also where their main customer support is based during business hours, which is complemented by the Malaysian office for support outside of business hours.
Key points of contact including:. Traders who make a deposit receive free education tools including videos, guides and a trading glossary. Below shows the spreads offered by the regulated broker on the core markets, ranging from Forex to cryptocurrencies. Spreads for most major currency pairs start from 0.
Other CFDs with no commissions include indices, cryptocurrencies, hard and soft commodities and treasuries.
Foreign exchange trading | FMA
The commission will vary for each market but if you trade on the NZX the fee is 0. Trading on the ASX will cost you 0. USD CMC offers a choice to 2 trading platforms. Next Generation is a solid alternative to MT4, it offers technical indicators and over 70 chart patterns across 12 types of charts. Perhaps the most interesting feature is the availability of a guaranteed stop-loss order GSLO.
As CMC has its own trading platforms, it is one of few brokers that can offer this feature. Their prosperity forex platform is designed for desktop and mobile app. CMC Markets offers leverage on major currency pairs of up to There is a high level of risk when trading at this level, so only experienced traders with a high-risk threshold should consider choosing the maximum leverage available.
Maximum leverage ranges for other products with of indices, for treasuries, and for commodities. You can view more leverage information on the CMC Markets review. Should you choose to trade with CMC, it may useful to note that this broker does have an office in New Zealand not all broker do at Level 25, Queen Street, Auckland which can be useful if you desire a broker with a local presence. IG is one of the largest retail fx broker worldwide marketing itself as an all-in-one trading solution provider. They provide stockbroking, currency and CFDs trading services across a number of forex platforms.
Traders also benefit from a range of inclusive tools that come with their account include a range of risk management tools and a large education library about trading. You can find more about IG with our in-depth review here. If you choose to do share trading, IG offers NZ traders share with market-based spreads across 12, companies and a 0. Overall, spreads and commissions vary by CFDs with some more competitive than others. CMC overall spreads and commissions were viewed as more competitive compared to IG. IG offers a large and diverse range of products for trading across over 17, markets which is great for portfolio diversity.
Very few brokers can offer the range of products that IG Markets offer. Products include:. Should you wish to sign up with IG, it may be useful to know the broker does not have an office in New Zealand. Plus has its own trading platform which means it can offer a range of tools not always found with other brokers.
These include:. One weakness of choosing Plus is that the broker does not have an office in New Zealand, which may present issues should you want to engage with the broker in person.
Introduction to Forex Trading with Learn to Trade
The company has its headquarters in Hong Kong where it was founded 30 years ago and has been licenced to offer derivatives by the FMA in New Zeland since November Choosing Hantec Markets gives you access to commissions free spreads starting from 0. No dealing desk ensures your orders receive the most optimal execution and pricing when you trade.
CedarFX offers access to a wide range of tradable securities, including stocks, futures, major and exotic forex pairs, cryptocurrencies and more. Though CedarFX could introduce a few additional educational resources, the broker remains a unique option for traders invested in giving back.
With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX. Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. Getting started with HYCM is quick and easy, and most investors can open an account in as little as 10 minutes. A wide range of educational and investing tools are available, which can be equally beneficial to both experienced and novice traders.
This brokerage is headquartered in Dublin, Ireland and began offering its services in It offers multiple trading platforms and earns mainly through spreads. You will need to familiarize yourself with a few basic terms before stepping into the forex market. Here are some of the most important:. New Zealand has many advantages for its forex traders, but the market will bite you if you are not prepared. For all of the protections that the government provides, traders can still fall victim to fraud with the wrong broker. For all of the strength of the New Zealand dollar, bad trading still loses money.
Winners focus and study consistently. You can access hundreds of educational videos and workshops and even individualized private sessions with mentors. Never trade alone! Join ForexSignals. Forex trading is an around the clock market. Benzinga provides the essential research to determine the best trading software for you in Benzinga has located the best free Forex charts for tracing the currency value changes. Let our research help you make your investments.
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Disclaimer: Please be advised that foreign currency, stock, and options trading involves a substantial risk of monetary loss. Neither Benzinga nor its staff recommends that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. All information contained on this website is provided as general commentary for informative and entertainment purposes and does not constitute investment advice.