6 Best Forex Brokers in New Zealand

The 6 Best Forex Brokers in New Zealand, Rated and Reviewed. We have listed the Best-regulated Forex Brokers accepting local traders.

In this in-depth guide, you will learn:

• Top 6 Forex brokers in New Zealand
• FMA regulation details
• Local trader-friendly brokers
• Broker reviews and ratings
• Key features of each broker
• Pros and cons of each broker
• Trading platforms available
• Account types and minimum deposit
• Customer support quality
• Deposit and withdrawal options

and much, MUCH more!

	Broker	Review	Regulators	Min Deposit	Website
🥇		Read Review	ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA	USD 100	Visit Broker
🥈		Read Review	FSCA, IFSC, ASIC, CySEC, DFSA, FCA	USD 5	Visit Broker
🥉		Read Review	FCA, FSCA, FSC, CMA	USD 200	Visit Broker
4		Read Review	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB	USD 200	Visit Broker
5		Read Review	FSC, FSA, VFSC	USD 10	Visit Broker
6		Read Review	CySEC, MISA, FSCA	USD 25	Visit Broker
7		Read Review	CySEC, FCA, FSA, FSCA, Labuan FSA	USD 100	Visit Broker
8		Read Review	CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA	USD 10	Visit Broker
9		Read Review	ASIC, CySEC, FSCA, CMA	USD 100	Visit Broker
10		Read Review	IFSC, FSCA, ASIC, CySEC	USD 1	Visit Broker

6 Best Forex Brokers in NZ (2024)

1. ☑️ IG – Overall, the Best Forex Broker accepting Local Traders
2. ☑️ CMC Markets – Leading FMA Regulated Forex Broker
3. ☑️ Blackbull Markets – Popular Broker for Active Traders in NZ
4. ☑️ Interactive Brokers – Impressive Proprietary Offering
5. ☑️ AvaTrade – High Regulation and Trust Score
6. ☑️ XM – Best Overall Trading Experience

1. IG

IG is one of the most established and well-regulated forex brokers in the world, founded in 1974. Offering a wide range of financial instruments, IG is regulated by top-tier authorities and the broker’s extensive regulation across multiple jurisdictions provides a robust layer of investor protection.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit to open an IG account?

The minimum deposit required to open an IG account is $250, which is relatively accessible compared to many other brokers.

Can I use leverage on IG?

Yes, IG offers leverage up to 1:30 for retail clients, in line with European regulations. However, leverage may vary depending on the asset being traded.

What educational resources does IG offer?

IG provides a variety of educational materials including webinars, articles, and online courses, making it a great choice for beginners and advanced traders looking to improve their trading knowledge.

Does IG offer negative balance protection?

Yes, IG offers negative balance protection, ensuring that clients cannot lose more than their deposited funds.

Our Insights

IG is a highly reputable and well-regulated broker with over 45 years of experience in the market. With competitive trading conditions, reliable platforms, and educational support, IG is ideal for both beginner and experienced forex traders.

2. CMC Markets

Founded in 1989, CMC Markets is a well-established global brokerage offering trading services across Forex, CFDs, and more. With over 800 employees and more than 60,000 active traders, the company operates in key regulated markets, including the UK, Australia, Canada, and Singapore. It is publicly traded and boasts a solid reputation for offering competitive spreads, advanced trading tools, and comprehensive customer support.

Pros and Cons

Frequently Asked Questions

What are the fees for trading with CMC Markets?

CMC Markets does not charge commissions on Forex and most CFDs. However, there are swap fees on certain trades, and spreads start from as low as 0.7 pips for Forex.

Does CMC Markets offer Islamic accounts?

Yes, CMC Markets offers Islamic accounts that comply with Sharia law, ensuring no interest-based charges.

How can I withdraw funds from CMC Markets?

You can withdraw funds via bank transfer, credit/debit cards, PayPal, Skrill, and Neteller. There are no fees for withdrawals.

What trading platforms does CMC Markets offer?

CMC Markets provides MetaTrader 4, MetaTrader 5, Next Generation, and WebTrader. These platforms are available on Windows, macOS, Android, and iOS.

Our Insights

CMC Markets stands out for its strong regulatory framework, competitive trading conditions, and comprehensive educational resources. With flexible account types, low spreads, and access to a range of advanced trading tools, it is a great choice for both beginner and experienced traders. The absence of commission fees on most trades and the availability of Islamic accounts further enhance its appeal.

3. BlackBull Markets

BlackBull Markets, established in 2014, is a New Zealand-based broker that caters to both retail and institutional traders. With a strong focus on ECN trading, the broker offers competitive spreads starting from 0.0 pips and leverages up to 1:500. BlackBull Markets is highly regarded for its commitment to security, offering negative balance protection, investor protection schemes, and segregated accounts.

Pros and Cons

Frequently Asked Questions

What account types does BlackBull Markets offer?

BlackBull Markets provides ECN Standard, ECN Prime, and ECN Institutional accounts. Managed accounts are also available, but micro and cent accounts are not offered.

Are there any fees for withdrawals?

No, BlackBull Markets does not charge fees for withdrawals. However, the processing time for deposits and withdrawals is typically 1-3 business days.

Does BlackBull Markets offer educational resources?

Yes, BlackBull Markets offers a variety of educational resources, including Forex courses, webinars, articles, guides, and videos to help traders improve their skills.

What trading platforms are available?

BlackBull Markets supports MetaTrader 4, MetaTrader 5, TradingView, cTrader, and its proprietary BlackBull CopyTrader and BlackBull Invest platforms, available across Windows, macOS, iOS, and Android.

Our Insights

BlackBull Markets is an excellent choice for traders seeking a reliable, ECN-based trading environment. With no minimum deposit requirement, competitive spreads, and advanced leverage options, it appeals to both beginners and experienced traders. The availability of multiple trading platforms, educational resources, and responsive customer support further enhances its appeal.

4. Interactive Brokers

Founded in 1978, Interactive Brokers (IBKR) is a global brokerage offering a comprehensive suite of trading tools for retail and institutional traders. With over 2 million active traders and approximately 2,700 staff members, IBKR provides access to a wide range of assets, including stocks, options, ETFs, and CFDs. The broker is publicly traded on NASDAQ and is regulated in major financial jurisdictions, including the USA (SEC, FINRA), UK (FCA), and Australia (ASIC).

Known for its low commissions, advanced trading platforms, and robust educational resources, Interactive Brokers is a leading choice for active and professional traders.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit required to open an account with Interactive Brokers?

Interactive Brokers has no minimum deposit requirement, making it accessible to traders of all sizes.

Does Interactive Brokers offer Islamic accounts?

No, Interactive Brokers does not currently offer Islamic accounts.

What platforms can I use to trade with Interactive Brokers?

Interactive Brokers offers several platforms, including Trader Workstation (TWS), IBKR Mobile, and WebTrader, which are compatible with Windows, macOS, iOS, and Android devices.

Are there any fees for withdrawals at Interactive Brokers?

Typically, withdrawals from Interactive Brokers are free, though fees may apply depending on the method used.

Our Insights

Interactive Brokers is a top-tier brokerage suitable for both retail and institutional traders. Its strong regulatory standing, wide range of asset offerings, and access to powerful trading platforms make it ideal for serious traders.

5. AvaTrade

Founded in 2006 and headquartered in Dublin, Ireland, AvaTrade is a global brokerage offering a wide array of trading instruments, including Forex, stocks, commodities, cryptocurrencies, and CFDs. With over 19,000 assets available for trading, AvaTrade is regulated across multiple jurisdictions, including the Central Bank of Ireland, ASIC, and CySEC. The broker offers various account types, including retail, professional, and Islamic accounts, with leverage of up to 1:400 for professional clients.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit required to start trading with AvaTrade?

The minimum deposit is USD 100, making it accessible for traders of various levels.

Does AvaTrade offer Islamic accounts?

Yes, AvaTrade offers Islamic accounts that comply with Sharia law, ensuring no interest-based charges.

What trading platforms does AvaTrade provide?

AvaTrade offers multiple platforms, including AvaTrade WebTrader, AvaOptions, MetaTrader 4, MetaTrader 5, AvaTradeGO, and social trading platforms like ZuluTrade and DupliTrade.

Are there any withdrawal fees with AvaTrade?

No, AvaTrade does not charge withdrawal fees, though typical processing times are between 1-3 business days.

Our Insights

AvaTrade is a solid choice for traders seeking a well-regulated and versatile brokerage. With a wide selection of trading instruments, including forex, stocks, commodities, and cryptocurrencies, AvaTrade offers plenty of options for both beginners and professional traders.

6. XM

Founded in 2009, XM is a highly regarded broker with over 5 million active traders worldwide and a staff of more than 450 employees. Regulated by several authorities, including FSC, DFSA, CySEC, ASIC, and FSCA, XM provides a secure and reliable trading environment. XM offers its services to traders in New Zealand.  Known for its user-friendly platforms, XM offers MetaTrader 4 and MetaTrader 5, along with competitive spreads starting from 0.6 pips on major pairs.

Pros and Cons

Frequently Asked Questions

What is the minimum deposit required to open an account with XM?

The minimum deposit required is just $5, making XM accessible to traders at all levels.

Does XM offer Islamic accounts?

Yes, XM offers Islamic accounts that are free from interest-based charges in compliance with Sharia law.

What trading platforms does XM provide?

XM provides the widely used MetaTrader 4 and MetaTrader 5 platforms, which are available on Windows, macOS, iOS, and Android.

Are there any fees for withdrawals with XM?

No, XM does not charge any fees for withdrawals, and the process typically takes 24 hours.

Our Insights

XM is an excellent choice for traders looking for a low-cost, flexible trading platform with strong regulatory oversight. With a very low minimum deposit requirement of $5, XM makes it easy for beginners to get started.

Is Forex Trading Legal and Popular in New Zealand?

Forex trading is legal and popular in New Zealand. The country has a well-regulated financial environment, making it an attractive destination for both local and international traders. The Financial Markets Authority (FMA) is the regulatory body responsible for overseeing the financial markets in New Zealand, including Forex trading, ensuring that brokers and traders adhere to high standards of transparency, fairness, and investor protection.

In Conclusion

For New Zealand traders, selecting the right forex broker is crucial, and the six brokers listed above stand out for their exceptional regulatory oversight, robust platforms, and attractive features. Each Forex broker in New Zealand comes with unique strengths, making it important for traders to evaluate their individual needs, whether it’s educational resources, platform features, or account types. All these brokers offer secure, reliable trading environments with strong local and international regulations.

You might also like: 

• IG Review
• CMC Markets Review
• BlackBull Markets
• Interactive Brokers Review
• AvaTrade Review
• XM Review