Best New Zealand Forex Brokers for 2023

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

July 18, 2023

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.

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.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best New Zealand Forex Brokers

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:

IG

- Best overall broker, most trusted
CMC Markets - Excellent overall, best platform technology
Plus500 - Multi-asset CFD broker, intuitive platform
BlackBull Markets

New Zealand Forex Brokers Comparison

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.com Overall ranking.

Company	Accepts NZ Residents	Regulated by FMA	Average Spread EUR/USD - Standard	Minimum Deposit	Overall Rating	Visit Site
IG	check	check	0.98 info	£250.00		Visit Site
CMC Markets	check	check	0.51 info	$0		Read Review
Plus500	check	check	0.8 (August 2021) info	€100		Read Review
BlackBull Markets	check	check	0.827 info	$0		Read Review
Saxo Bank	check		0.9 info	0		Read Review
AvaTrade	check		0.92 info	$100		Read Review
FXCM	check		1.38 info	Starts from $50		Read Review
Capital.com	check		0.67 info	$20 info		Read Review
XM Group	check		1.6 info	$5		Read Review
Admiral Markets	check		0.8 info	$100		Read Review
FP Markets	check		1.1 info	$100 AUD		Read Review
Tickmill	check		0.51 info	$100		Read Review
HFM	check		1.2 info	$0		Read Review
FlowBank	check		N/A info	$0		Read Review
HYCM (Henyep Capital Markets)	check		0.6 info	$20		Read Review
Eightcap	check		1.0 info	$100		Visit Site
Trade Nation	check		0.6	$0		Read Review
Moneta Markets	check		1.27 info	$50		Read Review
ACY Securities	check		1.2 info	$50		Read Review
easyMarkets	check		0.9 info	$50
IFC Markets	check		1.44 info	$1
Libertex (Forex Club)	check		N/A info	$10

How to Verify FMA Authorisation

To verify if a forex broker is regulated as a Financial Services Provider (FSP) by New Zealand's Financial Markets Authority (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.

securityWhy regulation is important

Choosing a well-regulated forex broker is important for avoiding forex scams. Check out my popular educational series that teaches you how to identify common forex scams and provides helpful information about what to do if you've been scammed. For crypto traders, I explain how you can spot common crypto scams.

Article Resources

Financial Markets Authority (FMA) Website, FMA Wikipedia, Financial Service Providers Register

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2023 Review Methodology

At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.

Read our full explanation and accounting of our research and testing process to learn more about how we test.

Forex Risk Disclaimer

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.

About the Editorial Team

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.