Trading forex (currencies) in New Zealand (NZ) is popular among residents. Before any fx broker in New Zealand can accept forex or CFD traders as clients, they must become authorised by the Financial Markets Authority (FMA), which is the financial regulatory body in New Zealand. The FMA's website is fma.govt.nz/. We recommend NZ residents also follow the FMA on twitter, @FMAmedia.
The FMA was formed in May 2011 as part of the Financial Markets Bill passed by New Zealand's Parliament. For a historical breakdown, here's a link to Financial Markets Authority webpage on Wikipedia.
Best Forex Brokers List New Zealand
To find the best forex broker in New Zealand, we created a list of all FMA authorised brokers, then ranked brokers by both trustworthiness, as well as their Overall ranking from the ForexBrokers.com 2018 Review. The result is our top forex brokers list for New Zealand.
|FMA Authorised (New Zealand)||Average Spread EUR/USD - Standard||Minimum Initial Deposit||Trust Score||Overall|
How to Verify FMA Authorisation
To identify if a forex broker is regulated as a Financial Services Provider (FSP) by the FMA, the first step is to identify the register number from the disclosure text at the bottom of the broker's New Zealand homepage. For example, here's the key disclosure text from KVB Kunlun's website,
KVB Kunlun Financial Group of Companies (including KVB Kunlun Pty Limited, KVB Asset Management Limited, KVB Kunlun New Zealand Limited, KVB Kunlun International (HK) Limited, KVB Kunlun Securities (HK) Limited, KVB Kunlun Asset Management (HK) Limited, KVB Kunlun Canada Inc, KVB Global Markets Limited, KVB Global Markets Pty Limited).
Next, look up the firm's NZ entity name on the FMA website to validate its current regulatory status and FSP number. Here is the official FMA page for Financial Services Providers that lists KVB Kunlun New Zealand Limited.
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