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This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.
Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.
Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. If you believe any data listed above is inaccurate, please contact us using the "Contact" link at the bottom of this page.
These trademark holders are not affiliated with ForexBrokers. This includes the use of the New York Equinix data centre to connect you with their liquidity providers. The NY4 data centre is where the majority of liquidity providers store their servers, so it makes sense that BlackBull uses NY4 as their main server location. However, to ensure you get the fastest possible execution for your trades, Blackbull can also connect you with fully functional servers in London, Tokyo, 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, Myfxbook and the recent partnership of HokoCloud for social trading. This enhances the trading execution speed to as low as 1ms. To ensure the Asia-Pacific region is catered to, the New Zealand base is complemented by a Malaysian office for customer support outside of business hours. When you open a forex trading account, BlackBull will provide you with a dedicated account manager that can assist with any customer service needs.
Key points of contact include:. As a locally-based FMA regulated forex broker, Blackbull Markets offer both the best forex trading platforms and the lowest spreads. TMGM offers commission and commission-free pricing structures, in 3 different accounts. An Islamic account option is only available for those following Sharia Law and on the edge account. As well as a good selection of account types with low spreads, TMGM offer three popular trading platforms:.
Just keep in mind that if you want to trade shares, IRESS is your best option as you can trade shares all hours. Regardless of the trading platform you choose, TMGM utilises diverse liquidity sources to achieve ultra-tight spreads and fast execution speeds. Overall, there are many benefits as a TMGM trader. You can access tight spreads from 0. A multi-regulated global broker with a long history of facilitating CFD trading, CMC Markets offers the highest maximum leverage across all markets.
This includes leverage of on major currency pairs and indices, for treasuries, and for commodities. Most CFDs have trading costs included in the spread with no additional commission fees. Spreads for most major currency pairs start from 0. Other CFD products with no commission fees include indices, cryptocurrencies, hard and soft commodities and treasuries.
Trading on the ASX will cost you 0. USD You can see the spreads offered by CMC on the core markets below, ranging from Forex to Cryptocurrencies. Both platforms are available via a desktop trading platform, web trader platform or mobile trading apps for Android and iOS devices. While most proprietary platforms lack advanced technical analysis tools, Next Generation is on par with third-party options like MT4. The platform offers in-built technical indicators and over 70 chart patterns across 12 types of charts to help you develop robust trading strategies.
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. To get started, you can deposit trading funds using a credit card, direct deposit or Paypal.
CMC Markets offers the highest maximum leverage on major currency pairs of up to There is a high level of risk when trading CFDs with high leverage, so only experienced traders with a high-risk threshold should consider choosing the maximum leverage available. Maximum leverage for other products is similarly high, with for indices, for treasuries and for commodities. You can view more leverage information on the CMC Markets review.
Should you start trading with CMC, it may useful to note that this broker does have an office in New Zealand not all brokers do at Level 25, Queen Street, Auckland which can be useful if you desire a broker with a local presence. As one of the largest FX brokers worldwide, IG markets itself as an all-in-one trading solution provider.
They provide stockbroking, currency, and CFD trading services across a number of forex platforms. IG Markets is a market maker, meaning they use internal liquidity to fill your orders and act as the counterparty to your trade compared to no dealing desk brokers that connect you to external liquidity providers.
Market maker brokers like IG offer commission-free spreads, making them a good option for traders looking for a simpler cost structure. Traders also benefit from a range of risk management tools and industry-leading educational resources. You can find more about IG with our in-depth review here.
IG also offers a huge range of 12, shares across a wide range of markets for NZ traders, with market-based spreads and a 0. Overall, while spreads and commissions do vary for CFDs, some more competitive than others, the broker does offer enough competitive alternatives to be recommended. There are also lower trading costs for high-volume traders with DMA Direct Market Access pricing available through Forex Direct, with lower average minimum spreads, starting at 0.
IG offers a large and diverse range of products for trading across over 17, markets making it a great option for portfolio diversification. Very few brokers offer the range of products that IG Markets provide access to. Financial 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.
The platform features robust charting, with indicators and 20 drawing tools, across 2, CFD products including. 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.
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 Zealand since November Choosing Hantec Markets gives you access to commission-free spreads starting from 0. The broker uses straight-through processing STP which means there is no dealing desk. No dealing desk interference ensures your orders receive the most optimal execution and pricing when you trade.
Hantec offers the most popular forex trading platform, MetaTrader 4, for both Windows and Mac via an emulator. This platform is still the most used by online brokers worldwide and by many of the top retail traders participating in forex markets.
There is also the option of a demo account to trade virtual funds before going live with real money. One of the top forex brokers in NZ is Jarden Securities. Jarden specialises in trading derivatives and offers the following products for trading:. Jarden offers a choice of 3 platforms for trading. When choosing your platform, it is important you have mapped out your trading strategy as each platform offers different market access. The following platforms are available:.
Market Trader has lightning-fast execution which makes the platform popular with scalpers, high-frequency traders, copy traders and algorithmic traders. In addition, the platform has a number of useful technical analysis features such as multi-charting and multiple time frames. As a trader, you will have access to more than 50 order types and algorithms to assist you in making the correct trade. Both forex platform solutions can be utilised on mobile through iOS and Android apps.
A range of financial instruments are available to trade with Rockfort Markets as CFDs or physical assets. As well as CFDs, longer-term investment opportunities include trading shares, options, futures and ETFs as physical assets. Rockfort Markets provide access to thousands of different stocks to trade from 14 different countries. Brokerage fees are competitive:. Overall, Rockfort Markets may be well-suited if you are looking to trade a range of CFDs alongside a selection of longer-term investments such as stocks and ETFs.
In terms of other charges and trading costs, HFTrading charges no deposit or withdrawal fees when managing your account balance. As with any broker, swap fees apply for open positions held overnight. It is worth noting a hefty inactivity fee may apply for traders that do make, open or close a trade for more than 60 consecutive days. Overall, HFTrading could be a good option if you are a high volume trader making large deposits and actively trading.
Otherwise, between the wide spreads and high inactivity fees, trading costs may add up. To determine the best forex broker in New Zealand in addition to the factors above customers service, leverage and product range were also considered. Blackbull is ideal for intermediate and expert NZ forex traders looking for a locally based broker that meets their needs.
These licenses are not considered to be a scam, but they might have less protection for you as a trader compared to the tier-1 licenses. If you have the option of using a broker with a tier-1 regulation, then definitely take that option. New Zealand forex traders should understand the high risks of leveraged products. Regulatory bodies have guides providing risk warnings and risk management suggestions, including this article.
When selecting the best forex broker in New Zealand forex broker, you should consider the following 5 aspects:. Some forex brokers will move to minimise these spreads and instead charge a commission. This increases the transparency of forex brokerage costs and can lead to a lower overall brokerage. It should be noted that some NZ forex broker charges other fees for holding positions, trading exotics and certain funding methods.
The main markets are in New York and London, so the trading platform servers need to be close to these locations. Choosing the right forex trading platform will mean finding one that has a good interface, fast trading execution and popularity. By using a popular forex platform like cTrader or MetaTrader 4, a broker can relatively seamlessly change the NZ forex broker they trade with.
Forex broker reviews will often give more insights into platform performance. With currencies often moving by fractions of a percent each day, leverage makes these changes more substantial. The leverage levels can be up to 10x different, so this element needs to be considered. This is because higher leverage increases the risks of forex trading. Other features need to be enabled on individual trades such as guaranteed stops where a broker can determine the most they are willing to lose on a transaction.
It should be noted that these features can increase the brokerage costs of the trader. There are many requirements of the New Zealand regulators, so choosing these fx brokers will reduce the risk of forex scans.
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Make fast and secure international money transfers with OFX (formerly OzForex). Register today and save with better exchange rates than the big banks. Get the latest foreign exchange rates for major currencies, and use our currency converter to help you save money on international transfers. Exchange rates and Trade Weighted Index (B1). This data monitors the currency exchange rate of the New Zealand dollar (NZD) compared to various major.