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10 Best Forex Brokers in New Zealand

Last Update: March 13th, 2024

Best Forex Brokers in New Zealand


🏆 10 Best Forex Brokers

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🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewSFSA, FSCA, CySec*USD 5Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewNot Regulated0.001 BTCVisit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewCySEC,MISA, FSCAUSD 20Visit Broker >>


10 Best Forex Brokers in New Zealand (2024*)

  1. ☑️CMC Markets  – Overall, Best Customer Service.
  2. ☑️AvaTrade – Award-winning trading platforms.
  3. ☑️XM – Low Spreads in New Zealand.
  4. ☑️BlackBull Markets – Multi-asset broker in 2024.
  5. ☑️IG – Best Award-winning platforms.
  6. ☑️ATC Brokers – Best ECN and STP brokers.
  7. ☑️FXTM – Best Award-winning Broker.
  8. ☑️Capital.com – Best user-friendly platform with MT4.
  9. ☑️ACY Securities – Offering ultra-low-cost trading.
  10. ☑️HFM – Licensed global broker in New Zealand.


Best Forex Brokers in New Zealand

👥 Brokers👉 Open Account💰 Minimum Deposit⚖️ Regulators✔️ Accepts New Zealand Traders
CMC Markets👉 Open Account33 NZDFCA, ASIC, CySEC, NBRB, FSA✔️
AvaTrade👉 Open Account165 NZDCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC✔️
BlackBull Markets👉 Open Account0 NZDFMA, FSA✔️
ATC Brokers👉 Open Account3,300 NZDCIMA, FCA, NFA✔️
FXTM👉 Open Account17 NZDFCA, ASIC, CySEC, FSCA✔️
Capital.com👉 Open Account33 NZDFCA, ASIC, CySEC, NBRB, FSA✔️
ACY Securities👉 Open Account82 NZDASIC, VFSC✔️


10 Best New Zealand Forex Brokers 

CMC Markets 

Who should use CMC Markets? 

CMC Markets offers a comprehensive platform for Forex, indices, shares, ETFs, commodities, treasuries, and cryptocurrencies, providing advanced charting tools, premium charting, and Reuters live news. 


What does CMC Markets do best? 

CMC Markets offers MetaTrader 4 with fewer products and a customizable Next Generation platform. They offer liquidity and API pricing to institutions. Financial security is provided by holding all customer funds in New Zealand. 


CMC Markets


Where can CMC Markets improve? 

There is a need for growth despite CMC Markets’ strengths. Educational information might be expanded, especially for beginners. The broker might benefit from offering more financial instruments and user-friendly tools for Novice traders. 


CMC Markets Pros and Cons 

✔️ Pros❌ Cons
A wide variety of trading instruments are accessibleNovice traders have limited instructional resources
Traders can access a proprietary platform, and MetaTrader 4MetaTrader 4 has a limited number of instruments
The FMA of New Zealand regulates the marketThere is no 24/7 customer support
There is no minimum investment requiredA smaller assortment of base currencies than some other brokers
Client funds are held onshore in New ZealandInactivity fees may be an issue for infrequent traders



Who should use AvaTrade? 

AvaTrade is ideal for traders who want a well-regulated platform focusing on Forex and CFD trading.  


What does AvaTrade do best? 

They provide a wide range of assets and trading platforms, including MetaTrader 4 and 5, to meet various trading demands. AvaTrade is well-known for its high-quality instructional services through SharpTrader and its diverse asset choices, allowing cross-asset diversification. 




Where can AvaTrade improve? 

AvaTrade offers competitive trading costs but not the lowest in the market, with a product selection limited to Forex, CFDs, cryptocurrency, and high spreads. 


AvaTrade Pros and Cons 

✔️ Pros❌ Cons
AvaTrade provides free deposit and withdrawal alternatives, as well as useful research toolsThe product selection is limited, with a concentration on CFDs, Forex, and cryptocurrency
They offer a wide choice of trading platforms to suit a variety of trading preferencesHigher inactivity costs than other brokers
SharpTrader offers high-quality educational resourcesThe forex fees are minimal, but the CFD trading fees are high
Multiple authorities regulate it effectively, ensuring a secure trading environmentAvaTrade’s trading costs may not be the most budget-friendly for all traders
AvaTrade provides free deposit and withdrawal alternatives, as well as useful research toolsThe inactivity cost is charged periodically and is expensive



Who should use XM? 

XM offers 16 trading platforms, including MetaTrader 4 and 5, and various teaching materials, making it ideal for traders seeking low minimum deposit limits and zero spread options. 


What does XM do best? 

XM offers instructional services for novice traders, offering low stock CFD and withdrawal costs, making it an attractive option for diversifying trading methods beyond FX. 




Where can XM improve? 

XM’s current trading instrument portfolio consists of CFD and forex trading, with average costs and a lack of investment protection for clients outside the EU. 


XM Pros and Cons 

✔️ Pros❌ Cons
Low minimum deposit requirements make it accessible to newcomersA limited product selection focuses mostly on CFDs and Forex
A diverse set of teaching tools and materialsForex and stock index CFDs have average costs
There are no withdrawal costs in most circumstancesThere is no investment protection for non-EU clients
Provides negative balance protectionIf an account is not used for more than a year, it will incur an inactivity fee
Allows access to both the MT4 and MT5 platformsWhile withdrawals are normally free, fees may apply for bank withdrawals under a particular amount


BlackBull Markets 

Who should use BlackBull Markets? 

BlackBull Markets provides a comprehensive ECN broker experience for Forex and CFD traders, offering competitive spreads and various account types, including ECN Prime and Institutional accounts. 


What does BlackBull Markets do best? 

BlackBull Markets’ MT4 and MT5 MetaTrader platforms and social trading capabilities let traders mimic expert traders’ tactics. They offer a swap-free Islamic account for Sharia-compliant traders. 


Blackbull Markets


Where can BlackBull Markets improve? 

They could expand their research tools and instructional materials to give traders more market analysis and learning chances. Although their customer assistance is well-rated, some users have experienced response time irregularities. 


BlackBull Markets Pros and Cons 

✔️ Pros❌ Cons
Competitive commissions for ECN Institutional accountsEducational and research tools could expand
A robust MetaTrader platform for trading methodsUsers complain of irregular customer support response times
Multiple account types for different trading methodsCFDs and Forex were the main options, with few alternative investments
Swap-free Islamic accounts existNo matter the withdrawal method, a $5 withdrawal fee is charged
New Zealand’s FMA regulates, ensuring trust and safetyHigher initial deposits are needed for institutional accounts



Who should use IG? 

IG offers a user-friendly, efficient platform for forex traders, catering to desktop and mobile users. It offers sophisticated tools and indications for both beginners and experienced traders. 


What does IG do best? 

IG is known for its excellent web trading platform and instructional materials. Traders who prefer flexibility and mobility love their comprehensive mobile app, which offers full trading features in a streamlined format. 




Where can IG improve? 

However, there are several areas in which IG could improve. The broker’s trading fees are quite hefty, particularly for stock CFDs. Furthermore, their product variety on the MetaTrader 4 platform is limited, and their customer service has been acknowledged to be slower than optimal. 


IG Pros and Cons 

✔️ Pros❌ Cons
There is a vast range of screening instruments and indications availableInactivity costs occur after a period of inactivity
Excellent mobile app that reflects the features of the desktop platformMetaTrader 4 offers a limited variety of items
The fee structure for Forex trading is straightforward and obviousHigh stock CFD trading fees


ATC Brokers 

Who should use ATC Brokers? 

ATC Brokers is a MetaTrader 4 platform-focused brokerage service offering ECN execution, tight spreads, and direct market access to traders. 


What do ATC Brokers do best? 

ATC Brokers is well-known for offering an MT Pro plugin for the MT4 trading platform, which improves the trading experience with additional capabilities. They also provide PAMM accounts, which enable traders to benefit from pooled funds for trading. 


ATC Brokers


Where can ATC Brokers improve? 

ATC Brokers is known for having high minimum trading capital requirements and limited payment choices. Furthermore, they impose large withdrawal costs, which may disadvantage traders who need to transfer funds frequently. 


ATC Broker’s Pros and Cons 

✔️ Pros❌ Cons
Fully regulated, providing a secure trading environmentThe high minimum deposit requirement may provide a hurdle for some traders
Includes the popular MT4 trading platform as well as the MT Pro pluginThere are limited payment methods for deposits and withdrawals
Provides the ECN execution model, which is popular due to its transparencyHigh withdrawal fees, especially for international wire transactions
Regular market news updatesThere is a limited selection of instruments.
There are no commission fees for trading CFDs



Who should use FXTM? 

FXTM is a broker that offers MT4 and MT5 platforms, renowned for their reliability, bespoke indicators, and professional advisors, catering to new and experienced traders. 


What does FXTM do best? 

FXTM is known for its inexpensive Forex and CFD costs, quick and digital account opening process, and attentive customer support. This makes them an attractive option for traders seeking low-cost trading and efficient service. 




Where can FXTM improve? 

FXTM’s educational and training services are not as advanced as some traders, particularly those new to forex trading. Furthermore, their product offering is limited, focusing mostly on Forex and CFDs, and they impose both an inactivity fee and a withdrawal cost. 


FXTM Pros and Cons 

✔️ Pros❌ Cons
Low trading and non-trading fees.Inactivity and withdrawal costs apply
Accounts can be opened quickly and digitallyThere are limited educational services available
Good client serviceLimited product selection
You can choose between MT4 and MT5There is no cTrader platform integration
Low forex and CFD fees



Who should use Capital.com? 

Capital.com is ideal for traders who want a platform that is both user-friendly and offers a variety of trading alternatives, including Forex and CFDs. 


What does Capital.com do best? 

Their platform is great for those who like a simple, easy-to-use trading environment. They stand out for their straightforward cost structure, which includes commission-free trading and competitive spreads, notably in currency trading. 




Where can Capital.com improve? 

Capital.com could enhance its trading experience by expanding account-based currency options and enhancing trading interface customization, including price notifications. 


Capital.com Pros and Cons 

✔️ Pros❌ Cons
A transparent broker with detailed fee disclosures and no deposit costsThere is a limited number of basic currencies accessible for accounts
Provides a user-friendly online and mobile trading platformTheir trading software has only a few customization options, especially for charts and workspaces
Provides a diverse choice of trading products, including many Forexes and cryptocurrencies.There is a lack of price alerts on the web trading platform
There are no withdrawal fees, and you can deposit via bank transfers, credit/debit cards, or e-wallets such as PayPalThe platform does not accept MT4 add-ons, which limits the alternatives for algorithmic traders
Competitive trading expenses, including tight spreads and commission-free trading on important pairs such as EUR/USDVPS hosting and Islamic accounts are not available


ACY Securities 

Who should use ACY Securities? 

ACY Securities is ideal for traders searching for a broker that provides diverse trading products, such as Forex, commodities, indices, cryptocurrencies, and stocks as CFDs. They benefit traders who like to use the MetaTrader 4 and MetaTrader 5 platforms. 


What does ACY Securities do best? 

ACY Securities excels at offering competitive trading circumstances, such as tight spreads, low costs, and high leverage choices. They also provide several account kinds to accommodate different trading styles and tactics. 


ACY Securities 


Where can ACY Securities improve? 

ACY Securities can improve in areas such as instructional resources, which are currently restricted and may not adequately meet the needs of beginners. Furthermore, their customer support services should be improved to provide more comprehensive and timely assistance. 


ACY Securities Pros and Cons 

✔️ Pros❌ Cons
Offers a varied portfolio of tradable instrumentsNovice traders have limited instructional resources
Competitive spreads and affordable trading feesCustomer service could be more responsive
Provides both MetaTrader 4 and MetaTrader 5 platformsThe scope of research instruments could be broadened
High leverage alternatives are availableThere is no bespoke trading platform for traders seeking a distinctive trading experience
Multiple account types are available to meet a variety of trading needsSome traders may find the account verification process onerous



Who should use HFM? 

HFM is a forex broker catering to all traders, offering various account types, platforms like MetaTrader 4 and 5, and its copy trading tool, HFCopy. 


What does HFM do best? 

HFM offers diverse account options, negative balance protection, global reach, and civil liability insurance, catering to various trading techniques and tastes. 




Where can HFM improve? 

HFM’s regular account spreads are less competitive, especially for specific currency pairs, and their ECN or RAW accounts offer better value for major pairs. Still, spreads can widen for less prevalent pairs. 


HFM Pros and Cons 

✔️ Pros❌ Cons
A wide range of account kinds, including micro and zero-spread accountsSpreads for standard accounts are less competitive for some pairings
Negative balance protection ensures safer tradingBetter spreads on major pairs, especially on ECN/RAW accounts, with wider spreads on less prevalent pairings
Global accessibility, serving a diverse range of regionsServices such as high leverage are provided through offshore organizations
Additional civil liability insurance to protect client fundsAdvanced traders might want more than just educational and research tools
A wide range of account types, including micro and zero-spread accounts


How to Choose a Forex Broker in New Zealand 

When selecting a Forex broker in New Zealand, traders need to consider key elements to ensure compliance with local financial norms and regulatory standards:

  • Prioritize brokers regulated by New Zealand’s Financial Markets Authority (FMA). This assures compliance with local regulatory norms, providing an extra degree of security and integrity in trading operations. 
  • Look for brokers who provide responsive customer service, preferably local support, and understand the New Zealand market situation. 
  • For beginners, thorough educational resources and market research help them learn forex trading dynamics. 
  • Consider the many account types and minimum deposit criteria to match your trading style and capital availability. 
  • Understand the available leverage alternatives and ensure they match your risk tolerance and trading strategy. 
  • Look for easy deposit and withdrawal alternatives with low or no transaction costs. 
  • Look into user reviews and testimonials to determine the broker’s reputation in the New Zealand trading community. 
  • Evaluate the broker’s trading platforms in terms of usability and toolset. Popular platforms like MetaTrader 4 and 5 are preferred for their extensive functionality and robustness. 
  • Compare the spreads and trading fees of various brokers. Competitive spreads and low transaction costs are critical to increasing trading efficiency. 
  • Ensure the broker offers a wide choice of currency pairs, particularly NZD pairs, to capitalize on local market knowledge. 


Best Forex Brokers in New Zealand


Frequently Asked Questions 

 Who is the Best Forex Broker in New Zealand? 

The best Forex broker in New Zealand is highly subjective and depends on the individual’s trading requirements. XM, CMC Markets, HFM, AvaTrade, and other brokers are popular in New Zealand. 


What is the Best Forex Trading Platform in New Zealand? 

MetaTrader 4 and MetaTrader 5 are the top trading platforms in New Zealand due to their comprehensive features, dependability, and widespread use among brokers. 


Is Forex legal in New Zealand? 

Forex trading is allowed in New Zealand and regulated by the Financial Markets Authority (FMA), providing a secure trading environment. 


Who is the Best Forex Broker for Beginners in New Zealand? 

Beginners in New Zealand generally choose brokers like IG and CMC Markets for their user-friendly platforms and rich educational tools. 


Who is the Best Forex Broker for Professional Traders in New Zealand 

Professional traders in New Zealand may pick brokers such as IG or BlackBull Markets, which offer diverse trading products and powerful platforms. 


How is Forex Trading Regulated in New Zealand? 

The Financial Markets Authority (FMA) regulates forex trading in New Zealand, ensuring that brokers follow strict financial regulations and policies to protect traders.