Best NZD/USD Forex Brokers

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: November 20, 2024

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• Jump to:
• Curated List of The 10 Best Forex Brokers for NZD/USD Trading
• Forex Brokers Compared by NZD/USD Spread
• Forex Brokers Compared by Regulation
• Forex Brokers Compared by Trading Platforms
• How NZD/USD Trading Works for Traders and Brokers
• FAQ
›

Our team of expert traders tested several regulated and trustworthy forex brokers and compiled a toplist with the best brokers for trading NZD/USD. Each broker received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.

1. 

   Fusion Markets

   Rating: 4.9

   74-89% of retail CFD accounts lose money

2. 

   FP Markets

   Rating: 4.8

   73.85% of retail investor accounts lose money

3. 

   Pepperstone

   Rating: 4.7

   75.5% of retail investor accounts lose money

4. 

   Global Prime

   Rating: 4.4

   74-89% of retail CFD accounts lose money

5. 

   eToro

   Rating: 4.2

   51% of retail investor accounts lose money

6. 

   XM Group

   Rating: 2.2

   72.82% of retail investor accounts lose money

Curated List of The 10 Best Forex Brokers for NZD/USD Trading

Starting to trade in the FX market can be an arduous endeavour. There is a seemingly endless amount of information to sift through and learn, and the process is not made easier once the time comes for you to choose your broker.

The past few decades saw a boom in retail forex investments, as the internet provided ample opportunity for brokers to offer their services online and thus make FX trading accessible to retail traders. The sheer number of brokers on the web can be overwhelming, and the spread limit, the commission, the broker’s regulators, and more, are all aspects one should consider before settling on a broker. In order to assist you with this process, we have gathered some of the best NZD/USD brokers below.

1. TRADE NOWREAD REVIEW
   1. Fusion Markets

   Min Deposit

   $0

   Fees

   Fusion does not charge its clients for deposits or withdrawals.

   Commissions

   USD: Trade 1 Standard Lot (Volume 1.0 on MT4) of Forex & Precious Metals, you will pay USD $4.50 round turn.
   NZD: Trade 1 Standard Lot (Volume 1.0 on MT4) of Forex & Precious Metals, you will pay NZD NZD$6.90 round turn.

   Spread

   Average: 0.24
   Minimum: 0.00

   Leverage EU

   20:1

   Leverage non-EU

   500:1

   Fusion Markets is a broker that makes use of the popular Mata Trader platforms. This includes both the fourth and the fifth iteration of this software, along with the web and desktop clients, and the ability to use either platform on your smartphone of choice, provided it runs either iOS or Android. Regardless, NZD/USD traders will have very tight spreads to work with. The spread is at around 0.24 pips on average, but the minimum is just 0.0 pips.

   If you have questions regarding the platforms and spreads, or you have run into a problem, you can turn to Fusion Market’s customer service team for assistance. They are available 24/5. Live chat, in particular, will allow you to get help almost immediately, and phoning a representative is another quick and easy method to contact support. Finally, you can also send an email.

   Fusion Markets is an excellent copy trading broker. Copy trading is a very popular practice nowadays, and the first feature aimed at lovers of copy trading is Fusion+. Essentially, Fusion+ allows you to set up your account so that other investors can copy your trades. It is free, provided you and your client trade 2.5 lots of FX or metals each month. You also have control over the set-up fee of the individuals who copy you, and you can set it up to 30%. If you are on the opposite end of the spectrum of investors who enjoy copy trading and wish to follow the lead of other traders, Fusion Markets has partnered with the DupliTrade platform to make that possible.

2. TRADE NOWREAD REVIEW
   2. Avatrade

   Min Deposit

   $100

   Fees

   Inactivity fee:
   

   • $50 per quarter after 3 consecutive months of inactivity.
   • Additional $100 annual fee after one year of inactivity.

   Commissions

   N/A

   Spread

   Retail: 1.8
   Pro: 1.5

   Leverage EU

   20:1

   Leverage non-EU

   400:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   Founded in 2006, Avatrade is an Irish broker that accepts investors from across the globe. In Europe, the broker is licensed by the Markets in Financial Instruments Directive and is thus regulated by CySEC. In Poland, the authority in charge of regulating Avatrade is the Polish Financial Supervision Authority, while the Australian Securities and Investments Commission authorised the broker’s operation within Australia. The global supervisor is the British Virgin Islands Financial Services Commission. Finally, Avatrade is also authorised to offer its services to investors in Japan, Israel, the Middle East, and South Africa.

   Investors who wish to trade the Kiwi have spreads that range between 1.5 and 1.8 pips, depending on the type of account they have. Retail users have a 1.8-pip spread, while those who have gone pro have the 1.5 pip-count. In addition, the leverage also depends on whether you are a retail or pro user, as the former will leave you with a 20:1 leverage, while the latter will mean that the limit is 400:1.

   If an NZD/USD enthusiast ever wishes to branch out, they can do so at Avatrade since the broker also offers products such as numerous forex pairs, as well as CFD like ETFs, precious metals, sticks, and agriculture, among others. Trading cryptocurrencies is also an option.

3. TRADE NOWREAD REVIEW
   3. IronFX

   Min Deposit

   $500

   Fees

   Deposits and withdrawals are free. $50 a month after one year of inactivity.

   Commissions

   • Standard, Premium, or VIP account - no
   • Live Zero Fixed account - yes

   Spread

   • Minimum: 1.3
   • Average: 1.4

   Leverage EU

   30:1

   Leverage non-EU

   Up to 1000:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   IronFX is a Cyprus-based broker. The entity responsible for regulating this broker in Australia is the Australian Securities and Investments Commission, while its operations in Europe are regulated by the Cyprus Securities and Exchange Commission. IronFX utilises the MetaTrader 4 desktop and web platform.

   NZD/USD traders will find that the instrument has a spread of 2.8 pips on average if you have a standard account. Premium IronFX users, on the other hand, have a 2.4-pip spread to work with, while the NZD/USD spread reaches 2.2 for clients with a VIP account. Additionally, traders who wish to diversify can choose between dozens of forex pairs, along with metals, indices, commodities and futures shares.

   Investors who are new to trading the NZD/USD and forex, in general, will find that IronFX features an extensive educational section. Firstly, you can take advantage of webinars, and the schedule can be found on IronFX’s website. Additionally, browsing the broker’s past webinars can be done easily, thanks to the variety of filters available. Other multimedia resources include a catalogue of trading videos, along with educational podcasts. Last but not least, IronFX has also provided its clients with numerous articles covering various aspects of trading.

4. TRADE NOWREAD REVIEW
   4. easyMarkets

   Min Deposit

   $25

   Fees

   Deposits are free.

   Commissions

   N/A

   Spread

   Fixed Web App: 2.7
   Fixed MT4: 2.3
   MT5 min: 0.8

   Leverage EU

   20:1

   Leverage non-EU

   500:1

   CFDs and Options are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Options work and whether you can afford to take the high risk of losing your money.

   easyMarkets was founded in 2001, and it offers over 200 forex pairs. This variety is welcome for NZD/USD traders that like to diversify but still wish to stick to the FX market. Investors can pick between several account types:

   • Web App/TradingView VIP
   • Web App/TradingView Premium
   • MetaTrader 4 VIP
   • MetaTrader 5

   Funding one’s account can be done via a multitude of banking solutions. This includes credit and debit cards like VISA, Mastercard, Maestro and AstroPay. Users whose preferences lie with e-wallets can opt for Neteller or Skrill. Other options include the likes of FasaPay, StickPay and Bitwallet, among others, provided you live in the regions these wallets are available. Finally, bank wire and online banking are also viable options.

   The spread of the NZD/USD instrument will vary depending on the type of platform you use. On the web app, the spread is fixed at 2.7 pips. The MetaTrader 4 spread is fixed as well, this time at 2.3 pips. Finally, the minimum pips on the MetaTrader 5 platform are 0.8. A limit of 20:1 is imposed on the leverage.

   The broker offers unique tools such as dealCancelation, which lets you cancel losing trades, and FreezeRate, the ability to temporarily freeze a price. Finally, guaranteed stop loss, a familiar but welcome feature, is also something you can use at easyMarkets.

5. TRADE NOWREAD REVIEW
   5. Axi

   Min Deposit

   $5

   Fees

   Deposits and withdrawals are free. $10 monthly inactivity fee after twelve months of inactivity.

   Commissions

   Standard: no commission
   Pro Account: $7 round trip (USD)
   Elite Account: $3.50 round trip (USD)

   Spread

   Standard: 1.6 pips average
   Pro: 0.7 pips average

   Leverage EU

   30:1

   Leverage non-EU

   400:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   Axi boasts a varied library that is not only excellent for forex traders but for those who like to try trading CFDs, indices, commodities, cryptocurrencies and the like. The broker is regulated by several entities, the relevance of which is reliant on where you reside. Aussie traders can rest assured that Axi is regulated by the Australian Securities & Investments Commission, while in the UK, the entity responsible for regulating the broker is the Financial Conduct Authority.

   Axi’s educational tools will prove useful to anyone who is just starting out, as well as investors who do have some experience but wish to branch out or improve their skills. There are video tutorials that will teach you the ins and outs of using the MetaTrader 4 platform, along with articles. guides in written form that cover a broad range of trading techniques and concise guides focusing on topics that are useful to beginners. A handful of trade-related ebooks are available to download at no cost. Finally, you can enrol for Axi’s trading courses which are available free of charge.

   The pip count of the NZD/USD pair is between 1.6 for users with a standard account and around 0.7 pips for those with a pro account. Investors looking to go pro should keep in mind that unlike standard fees, where the spread is the entire fee, having an account at a pro level and beyond means that a commission is attached to your trades. Said commission is $7 round tip for pro accounts and $3.50 round tip for elite accounts.

6. TRADE NOWREAD REVIEW
   6. Markets.com

   Min Deposit

   $100

   Fees

   $10 monthly inactivity fee after 3 months of inactivity.
   No deposit or withdrawal fees.

   Commissions

   N/A

   Spread

   2.2 pips

   Leverage EU

   20:1

   Leverage non-EU

   300:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   Markets.com, owned by Finalto Group, is a broker that can be accessed globally and, as such, is authorised to operate in multiple jurisdictions by a handful of regulatory bodies. This includes the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Financial Services Board of South Africa, the Australian Securities and Investments Commission, and the BVI Financial Services Commission.

   As per the rules of the regulators in question, the broker provides negative balance protection to its clients. In addition, the verification process is extensive, but it nonetheless has been made as streamlined as possible in order to avoid inconveniencing new clients.

   Upon registering, you will find that the minimum initial deposit is $100, and you can fund your account via credit card, ZOTA Pay, or wire transfer, along with e-wallet options the likes of Neteller, Skrill and Paypal.

   If you ever run into problems during the verification process or when using Makrets.com in general, customer service can help. You can get in touch with a customer support representative through live chat or email, and you can also give them a call.

   The spread of the NZD/USD instrument is 2.2 pips on average, while the leverage has a 20:1 limit in jurisdictions which do not permit a higher leverage. Global clients, on the other hand, can use a leverage of up to 300:1.

7. TRADE NOWREAD REVIEW
   7. Admirals

   Min Deposit

   $100

   Fees

   All deposit methods are free except Skrill: 0,9%, min. $1.
   $10 monthly inactivity fee after 2 years of inactivity.
   No withdrawal fees.

   Commissions

   Zero.MT5: $3.0 per lot
   Zero.MT4: $3.0 per lot

   Spread

   Minimum spread: 0.1
   Typical spread: 1.9

   Leverage EU

   20:1

   Leverage non-EU

   500:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   Formerly known as Admiral Markets, Admirals has one of the most extensive educational libraries in the forex market. The broker offers an array of articles and videos that focus on forex, the psychology of trading, risk management, how to use trading software, and the like. In addition, you could also enrol for their Zero to Hero 20-day course. The Forex 101 course is also something beginners should try, as it comprises 9 video lessons and quizzes.

   Investors can also try Admirals’ webinars and seminars that cover forex and CFD trading. If you run into a trading term you are unfamiliar with, an explanation can be found in Admirals’ glossary, and you can always consult the FAQ as well. Finally, NZD/USD traders who also like to delve into cryptocurrency trading can get their hands on the Blockchain Basics ebook if they have a real trading account at Admirals.

   NZD/USD investors will be happy to learn that the spread of this instrument is tight at Admirals, and the minimum is 0.1 pips, while the typical pip-count is 1.9 pips. As for the leverage, users have a limit of 500:1 unless they have a retail account, in which case the limit is 20:1.

   Investors have the choice to pick either MetaTrader 4 or MetaTrader 5 as their platform. Additionally, clients who have an iOS, Android, or Huawei device can trade on the go by downloading Admirals’ mobile application from their respective app stores. Additionally, the MetaTrader Supreme plug-in can enhance one’s trading experience, and the StereoTrader trading panel is available too. Admirals also offers a VPS service. Finally, the broker can also be used by MAC users thanks to Parallels, a piece of virtualisation software that will give you access to programs that are typically limited to WIndows computers. Thanks to this, you can use MetaTrader 4 and 5 on a MAC.

8. TRADE NOWREAD REVIEW
   8. IG

   Min Deposit

   Bank transfer: $0
   Card Deposit: $300

   Fees

   $12 monthly inactivity fee after two years of inactivity.

   Commissions

   N/A

   Spread

   Min: 1.8
   Average: between 2.52 and 2.7

   Leverage EU

   20:1

   Leverage non-EU

   UK and Australia: 20:1
   International: 133:1

   Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Options and turbo warrants are complex financial instruments and your capital is at risk. Losses may be extremely rapid.

   IG is a broker of UK origin which has, over the decades, established itself as an excellent broker for both British traders and international investors alike. It is regulated by the Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Swiss Financial Market Supervisory Authority, and the Australian Securities and Investments Commission, among other regulatory bodies. This broker also looks out for its clients by enabling two-factor authentication and ensuring that all client funds are held in segregated accounts.

   You can find many products on IG, including forex trading, indices, stocks, and more. If you are an NZD/USD trader looking to diversify your routine, you can also try out IG’s weekend trading on the GBP/USD, EUR/USD and USD/JPY pairs, along with indices and cryptocurrencies. This provides traders with hedge opportunities if they are interested in this practice.

   Back to the NZD/USD, the spreads tend to range between 1.8 pips and 2.7 pips, and you will be able to conduct trades involving this instrument not only on your computer but on your mobile as well. IG offers an application that is downloadable from the iOS App Store and Google Play. It is snappy, and it includes risk management tools, charts, and order limits, such as GTC and GTD.

9. TRADE NOWREAD REVIEW
   9. XTB

   Min Deposit

   $250

   Fees

   $10 a month after one year of inactivity.
   Deposit fees:

   • Bank Transfer: free
   • Card: free
   • SafetyPay: 1.5%
   • Neteller: 1%

   Commissions

   N/A

   Spread

   Min: 1.7
   Target spread: 2.0

   Leverage EU

   20:1

   Leverage non-EU

   500:1

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

   XTB provides its clients with an in-house developed platform named xStation5. It offers over 4000 instruments, and this includes 48 forex pairs, along with indices, stocks and more. You can pick between a web platform that will work directly from your browser, or you could opt to download the desktop client. Investors on the go, on the other hand, have applications that are available for both the iOS and the Android operating systems.

   The Financial Conduct Authority is one of the bodies that regulate XTB. This means that XTB is a trustworthy broker, and this is further proven by the fact that it is listed on the Warsaw stock exchange. Furthermore, XTB’s customer support team can be of assistance to you twenty-four hours a day, seven days a week.

   XTB’s educational section consists primarily of articles, guides and webinars. The written sources are well-organised and cover a wide range of topics, including forex trading, technical analysis, and platform training. The video library is similar in terms of variety, and you will also be able to join live webinars, which are hosted every Wednesday at the time of writing.

   Trading the NZD/USD pair involves spreads that range between 1.7 pips at a minimum to around 2 pips. As for the leverage, investors who reside in the UK or Europe have a 20:1 limit. International clients, on the other hand, can reach 500:1.

10. TRADE NOWREAD REVIEW
    10. Global Prime

    Min Deposit

    $1

    Fees

    No inactivity fee. Global Prime covers merchant fees for Neteller, PayPal, Skrill and Credit Card deposits.

    Commissions

    USD Account: USD 0.035 (USD 0.07 round turn) Micro Lot Commission

    Spread

    Min: 0.0
    Average: 0.77

    Leverage EU

    30:1

    Leverage non-EU

    100:1

    At Global Prime, investors can pick between two platforms, the first of which is MetaTrader 4, which is highly customisable. The second option is TradingView, a platform that has been gaining popularity among traders in recent years. Connecting your Global Prime account to TradingView is done through the broker’s TraderEvolution platform. Additionally, these platforms are available for traders on the go. Whether you use an iOS device or an Android device, you will be able to download your app of choice from the respective operating system’s app store.

    Global Prime boasts low latency and has a lot to offer in terms of tools as well, starting with several VPS solutions: NYC Servers, ForexVPS, and Beeks. Additionally, professionals can take advantage of Global Prime’s FIX API solution, which is flexible and allows for the utilisation of all programming languages.

    The spreads at Global Prime are tight, ranging between 0.0 at a minimum and 0.77 pips on average for the NZD/USD pair. As for the leverage, if you reside in an ASIC-regulated area, it is 30:1. Elsewhere, however, the limit for forex pairs is 100:1.

    NZD/USD investors will also find that Global Prime’s reputability is evident thanks to the fact that it is regulated by the FSA, the VFSC, and, as established, the Australian Securities & Investments Commission. Additionally, in compliance with the regulations imposed by the regulatory bodies in question, your money will be kept in segregated bank accounts that are away from the company’s own funds.

Comparison by NZD/USD Spread

Comparison by Regulation

Comparison by Trading Platforms

The NZD/USD pair showcases how many US dollars it takes to buy one New Zealand dollar. It is a commodity pair, seeing as the NZD and the New Zealand economy, in general, are heavily influenced by agricultural factors. Whole milk powder is one of the largest exports of the country, which means that its value will increase when dairy prices are on the rise globally. When diary prices are down, however, trading the Kiwi also becomes less appealing.

The NZD/USD pair is available at the majority of online brokerages, giving investors who prefer this pair an ample number of websites to choose from.

How NZD/USD Trading Works for Traders and Brokers

A forex pair consists of two types of currencies. The first one, which here is the New Zealand dollar, is called the base currency. The other is referred to as the quoted currency, and here, that would be the American dollar. Investors make use of lots in order to decide how many units they should trade, and a standard lot consists of 100,000 units.

The NZD/USD is also popular among carry trade enthusiasts. A carry trade can be done when one of the currencies in the pair you focus on has an interest rate higher than the interest rate of the other currency. The investor can then use the low-interest currency to convert into the other. If you hold this trade and the price remains the same, you make a profit off of the interest rate differential. Carry trading can be very risky, especially when high volatility is involved and in times of economic turmoil in general. Therefore, caution is advised for anyone contemplating this trading strategy.

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