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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 New Zealand Forex Brokers
To find the best forex broker in New Zealand, we created a list of all FMA authorised brokers, then ranked brokers by their 2019 Overall Ranking. Here is our list of the top forex brokers in New Zealand.
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 Trust Score.
| Forex Broker | Accepts NZ Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Open Account |
|---|---|---|---|---|---|---|
| IG | Yes | 0.750 | £250.00 | 97 | Visit Site | |
| Plus500 | Yes | 0.600 | €100 | 84 | N/A |
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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"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." Learn more.
