Best New Zealand Trading Platforms Regulated by FMA

Written by 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: October 30, 2024

Our team of expert traders tested several regulated and trustworthy New Zealand trading platforms and compiled a toplist with the best among them. Each trading platform operating in New Zealand received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.

Despite its relatively small size, New Zealand is home to a well-developed online trading industry that falls under the regulatory scope of the Financial Markets Authority (FMA). Kiwi investors have access to a varied range of tradable financial instruments. They can legally engage in spot trading across various asset classes, including foreign exchange, commodities like gold, natural gas, and crude oil, stocks, and cash indices.

The country’s financial watchdog introduced a licensing regime for the sale of short-duration derivatives in late 2017. Under the new regulatory framework, online brokers must procure derivative issuer licenses from the FMA to legally offer high-risk leveraged products like contracts for differences (CFDs) to Kiwi customers. Margin trading with futures and binary options is also a stringently regulated activity in the Land of the Long White Cloud.

New Zealand has become somewhat of a hotspot for companies from the fin-tech sector, largely thanks to its well-developed economy and robust financial regulatory framework. It provides a business-friendly environment, which renders it an attractive destination for many online brokers.

This page is specifically dedicated to Kiwi traders who find it difficult to navigate the regulatory landscape of their country. We cover all there is to know about online trading regulations in New Zealand, the most common payment methods supported by Kiwi-friendly brokers, and the trading platforms they offer. But first, let’s have a look at ten of the leading trading sites that accept New Zealanders.

Regulator	Financial Markets Authority (FMA)
Forex Trading Leverage	500:1
Stock Trading Leverage	20:1
CFD Trading Leverage	500:1

The Best New Zealand Brokers

We created this page in an attempt to help Kiwi traders identify the most reputable brokers that accept customers from New Zealand. Our recommendations are based on several key criteria, including the brokers’ overall reputation in the online trading community, trading costs, range of tradable instruments, supported payment options, and available platforms. The members of our team have gathered all the data you might need to select the broker that best fits your investment goals, risk tolerance, and experience level.

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Regulators
New Zealand Financial Markets Authority (FMA)
UK Financial Conduct Authority (FCA)
US Commodity Futures Trading Commission (CFTC)
German Federal Financial Supervisory Authority (BaFin)
Swedish Financial Supervisory Authority (SFSA)
Australian Securities and Investments Commission (ASIC)
Monetary Authority of Singapore (MAS)
Financial Sector Conduct Authority of South Africa (FSCA)
Dubai Financial Services Authority (DFSA)
Bermuda Monetary Authority (BMA)
Platforms
MT4, ProRealTime, L2 Dealer, Proprietary Web Platform
1. IG
Min Deposit
$50 ($50,000 maximum for credit cards
$99,999 for debit cards)
Fees
Free deposits and withdrawals
$18 monthly maintenance fee after two years of inactivity
Deposit Methods
Commissions
0.10% per side for UK and European stocks (£10 min.
$0.02 per side for US stocks (US$15 min.)
0.25% per side for Hong Kong stocks (HK$50 min.)
0.08% per side for Australian stocks (AU$7 min.)
Spread
0.6 pts for forex majors
0.1 pts for commodities
0.8 pts for major indices
Withdrawal Methods
Leverage EU
30:1 for major forex crosses
20:1 for minor forex crosses, gold, and major indices
10:1 for minor indices and commodities excluding gold
5:1 for stocks
2:1 for cryptocurrencies
Leverage non-EU
200:1 for major forex crosses and major indices
20:1 for stock CFDs
Instruments
Forex, shares, commodities, indices, bonds, cryptocurrencies, options, ETFs, interest rates, CFDs
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
Established in 1984, IG is a global leader in the provision of trading services with over 313,000 customers worldwide. The company is listed on FTSE 250, which further adds to its reputation and credibility. It has a licensing status in several top-tier jurisdictions, including the UK, Australia, New Zealand, and the US. Traders who register with IG can seize lucrative opportunities on stocks, commodities, currency crosses, and indices, facing a choice from more than 18,000 markets. They can profit from pure price action via CFD derivatives. The broker offers a healthy range of less common financial instruments like interest rates, bonds, exchange-traded funds, and options.
Live trading is possible via several cutting-edge platforms, including MT4 and ProRealTime. Customers who insist on having direct access to the financial markets can use the L2 Dealer platform that supports trading with forex and stock CFDs directly through the order books of the world’s largest international exchanges. IG also gives clients the flexibility to execute trades on the go via award-winning mobile apps compatible with iOS and Android.
The broker is committed to providing low-cost trading to its customers, with spreads on major currency crosses and commodities starting from 0.6 points and 0.1 points, respectively. The commissions on stock trades are also highly competitive at IG. Providing adequate educational materials is one of the biggest strengths of this brokerage. Clients can improve their expertise by participating in various webinars and online courses. Practicing via a demo account with $20,000 in virtual credits is recommended for novice traders who decide to join the consistently growing IG community.
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Regulators
New Zealand Financial Markets Authority (FMA)
UK Financial Conduct Authority (FCA)
Federal Financial Supervisory Authority (BaFin)
Monetary Authority of Singapore (MAS)
Investment Industry Regulatory Organization of Canada (IIROC)
Australian Securities and Investments Commission (ASIC)
Spain National Securities Market Commission (NSMC)
Platforms
MT4, CMC Markets Proprietary Web Platform
2. CMC Markets
Min Deposit
No minimum deposit requirements
Fees
1.5% charge for debit and credit card deposits
2.5% holding fee on overnight index and stock positions
A $15 monthly maintenance fee after one year of inactivity
Deposit Methods
Commissions
A $7 minimum commission on stock CFDs or 0.10%, whichever is greater
Spread
0.7 for forex majors
1.0 for FTSE 100 Index
0.3 for gold
2.0 for treasuries
Withdrawal Methods
Leverage EU
30:1 for forex major crosses
Leverage non-EU
500:1
Instruments
Forex, indices, stocks, commodities, treasuries, cryptocurrencies, share baskets, CFDs, spread betting
Spread bets and 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 spread betting and/or trading 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.
CMC Markets enables Kiwi clients to trade the global financial markets with safety, confidence, and ease, giving them access to thousands of tradable instruments across a versatile range of asset classes. Retail clients can capitalize on the price movements of over 330 forex crosses, 80 global indices, more than 100 soft and hard commodities, and 10,000 stocks. Customers looking for greater trading flexibility and portfolio diversification can invest in over 1,000 exchange-traded funds (ETFs) and 50 treasuries.
The broker facilitates margin trading, allowing clients to increase their market exposure without putting down the full value of their open positions. Margins at CMC Markets start at 0.20%, with maximum leverage capped at 500:1 for less volatile financial instruments. Licensed by multiple top-tier financial regulators like the FMA and FCA, the brokerage provides a choice from two platforms. MT4 is a wise choice for beginner and intermediate traders but using the CMC proprietary next-gen web platform is also an option. The browser-based software supports more than 115 technical indicators, 70 chart patterns, and a dozen built-in chart types.
Committed to providing low-cost trading, CMC Markets offers sharp spreads and competitive commissions of 0.10% on share CFDs. The broker facilitates quality market research by delivering comprehensive educational content, including thorough trading guides, webinars, electronic books, and podcasts. Clients will also benefit from daily news and in-depth market analysis. Kiwi traders can open MT4 or Next Generation accounts and fund them with POLi, cards, or standard bank transfers.
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Regulators
Financial Services Commission of Belize (FSC)
Cyprus Securities and Exchange Commission (CySEC)
Platforms
MT4, MT5, FBS Trader
3. FBS
Min Deposit
Debit and credit cards: $3 to $999,999
Skrill: $12 to $12,000
Neteller: $10 to $100,000
Bitcoin: 0.01 BTC
Litecoin: 0.10 LTC
Perfect Money: $5 to $999,999
Fees
Processing fees may apply to Perfect Money deposits
Cryptocurrency deposits may incur crypto network commissions
No withdrawal fees
No inactivity fees
Deposit Methods
Commissions
No commissions for Standard, Cent, Pro, and Micro accounts
$6 per lot for ECN accounts
0.05% per side for Crypto accounts
$20 per lot for Zero Spread accounts
Spread
0 pips for Zero Spread accounts
From 1 pip for Cent and ECN accounts
From 3 pips for Micro and Crypto accounts
From 0.5 pips for Standard accounts
From 0.3 pips for Pro accounts
Withdrawal Methods
Leverage EU
30:1 for major forex crosses
Leverage non-EU
3,000:1
Instruments
Forex, indices, energies, metals, cryptocurrencies, stocks
Risk warning: Before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience.
FBS is a wise choice for Kiwis looking to trade with a reliable feature-rich broker. The company boasts a solid presence in over 150 countries and has gained the trust of more than 23 million traders worldwide whose annual profits are estimated at $500 million. Trading with this brokerage is both simple and profitable as spreads start from zero pips with certain account types. The speed of order execution is excellent which further adds to the appeal of FBS.
Licensed to conduct online trading in the jurisdictions of Belize and Cyprus, FBS offers a healthy range of tradable instruments, including currency crosses, commodities, shares, indices, and cryptocurrencies. The company gives Kiwi clients the flexibility to choose their leverage caps during the registration process, with maximums ranging from 50:1 to 3,000:1. Both MT4 and MT5 are supported. Customers also have the option to download the easy-to-use FBS Trader app from Google Play and the App Store.
FBS is not your typical run-of-the-mill broker as clients face an incredibly diverse choice from seven account types. The available options include Standard, Cent, Pro, ENC, Zero Spread, Micro, and Crypto, with each account type having its own peculiarities and specifications. ECN accounts are suitable for versed traders, giving them direct access to the financial markets. Standard, Micro, Cent, and Pro accounts incur no commissions and offer spreads ranging from 0.3 to 3 pips.
Customers based in Australia’s back-door neighbor can top up their live balance via cards, cryptocurrencies, and digital wallets like Skrill, Neteller, Sticpay, and Perfect Money. Deposits to your trading account are generally free of extra charges, although Bitcoin, Litecoin, Tether, and Ethereum may incur nominal crypto network commissions.
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Regulators
Financial Conduct Authority (FCA)
Australian Securities and Investments Commission (ASIC)
Jordan Securities Commission (JSC)
Cyprus Securities and Exchange Commission (CySEC)
South Africa Financial Sector Conduct Authority (FSCA)
Platforms
MT5, MT4, StereoTrader, WebTrader, MetaTrader Supreme Edition
4. Admirals
Min Deposit
$100 ($1 for Invest MT5 accounts)
Fees
Free deposits, one free withdrawal per month
A $10 monthly maintenance fee after two years of inactivity
Deposit Methods
Commissions
MT4 and MT5 Standard Accounts: $0.02 per share
MT5 Invest Accounts: $0.02 per share
MT4 and MT5 Zero Accounts: $1.8 to $3 per lot for forex and metals; $0.05 to $3 per lot for indices; $1 per lot for energies
Spread
From 0.5 pips for standard trading MT5 accounts
From 0 pips for Zero MT4, Zero MT5, and Invest MT5 accounts
Withdrawal Methods
Leverage EU
30:1
Leverage non-EU
500:1
Instruments
Forex, indices, commodities, stocks, cryptocurrencies, bonds, ETFs
Investments involve risks and are not suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 Admiral Markets, Admirals has been providing quality online trading services for nearly two decades. The broker inspires confidence in traders from over 130 countries as it carries licenses from some of the strictest financial regulators in the world. It provides excellent trading conditions combined with a comprehensive range of tradable financial instruments. Customers of the reputable company can choose from over 80 currency pairs, 42 cryptocurrency CFDs, and more than 3,300 stock CFDs. Trading with bonds and commodities is also possible at Admirals. The broker has tight spreads and low commissions, which further increases its appeal in the eyes of savvy traders looking for greater value.
Admirals is suitable for traders of all levels as it offers a broad range of account types for MT4 and MT5. Clients have access to StereoTrader, a scalable interface compatible with the MetaTrader platform that enables users to place more than 30 different orders with a single click of their mouse button. The software can accommodate all trading styles, including scalping, day trading, and pullback trading. Using the MetaTrader WebTrader to place orders directly from your browser is also an option at Admirals.
Clients can fund their live accounts via bank transfers, credit and debit cards, online banking, and e-wallets like Skrill. Each customer is entitled to one free withdrawal per month. Subsequent withdrawals incur nominal processing fees but the exact cost depends on the payment method. Customer support is available via live chat, telephone, and email in multiple languages, including English, Russian, German, Spanish, Chinese, and French.
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Regulators
New Zealand Financial Markets Authority (FMA)
Financial Services Authority of Seychelles (FSA)
Platforms
MT4, MT5, WebTrader, TradingView, Share-Trading Apps for iOS and Android
5. BlackBull Markets
Min Deposit
No minimum deposit requirements
Fees
Free deposits, $5 fee on withdrawals
$10 maintenance fee after one year of inactivity
Deposit Methods
Commissions
$6 per lot for Prime accounts
$4 per lot for Institutional accounts
Spread
From 0 pips
Withdrawal Methods
Leverage EU
500:1
Leverage non-EU
500:1
Instruments
Forex, stocks, soft commodities, energies, precious metals, futures, cryptocurrencies, indices
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle. BlackBull Markets does not accept client applications from Canada and the United States.
BlackBull Markets upholds the highest standards of excellence and regulatory compliance as it carries licenses from the Financial Markets Authority (FMA) and the Seychelles Financial Services Authority (FSA). The broker was established in 2014 and has its main offices in Auckland, New Zealand. BlackBull Markets is geared mainly toward the needs of customers from the Asian Pacific region, although traders from certain European countries are also accepted.
The award-winning broker provides excellent trading conditions, with spreads starting from zero pips. Customers face a choice from 18 commodities, 70 forex crosses, 10 cryptocurrencies, and 10 indices. Stocks are the biggest strength of BlackBull Markets. The broker facilitates trading with the shares of more than 26,000 global and local companies, including Apple, A2B Australia, Tesla, and Siemens. BlackBull Markets uses several platforms, including MT4, MT5, WebTrader, and TradingView. Copy traders have access to Zulutrade, which allows them to mimic the strategies of thousands of successful investors from over 190 countries.
Four main account types are available, Standard, Prime, Islamic, and Institutional. All four use ECN order processing, giving customers direct access to the financial markets. Standard accounts have no minimum deposit requirements, allowing you to start trading with as little as you want. Various deposit methods are supported, including local options like POLi. Those new to the markets can build up knowledge and experience by creating demo accounts. The broker gives traders the flexibility to choose their maximum leverage during the registration process, offering nine different caps that range from 1:1 to 500:1.
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Regulators
New Zealand Financial Markets Authority (FMA)
Platforms
MT4, WebTrader, Trader Workstation
6. RockGlobal
Min Deposit
No minimum deposit requirements
Fees
Fees vary based on the payment method $20 monthly fee for inactivity
Deposit Methods
Commissions
A $6 round-turn commission on forex crosses for professional traders
Spread
From 0.1 pips
Withdrawal Methods
Leverage EU
30:1
Leverage non-EU
500:1
Instruments
Forex, CFDs, stocks, options, futures, ETFs, cryptocurrencies, commodities, indices
Risk Warning: Trading or investing in RockGlobal derivative products carries significant risks and is not suitable for all investors. You could lose more than your deposits. You do not own, or have any interest in, the underlying assets. The high degree of leverage can work against you as well as for you. Before deciding to trade RockGlobal derivative products, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with derivative trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle
Formerly known as RockFort Markets, RockGlobal offers a full range of financial instruments across all major asset classes. Here you can trade with over 50 currency pairs, cryptocurrencies, gold, silver, soft commodities, oil, indices, and shares. The brokerage is an ideal choice for Kiwi traders as it is registered in New Zealand and carries a license issued by the Financial Markets Authority. RockGlobal offers competitive spreads that start at 0.1 pips for major forex crosses like the EUR/USD. Round-turn commissions of $6 are in place for customers who trade via professional accounts.
The trusted broker makes no compromise when it comes to the security of customer funds. The company segregates its clients’ money from its day-to-day operational funds and stores them in a separate account at ANZ Bank. Clients from New Zealand can use leverage of up to 500:1 and can execute high-speed trades via MetaTrader 4 and WebTrader. Customers looking to trade shares, futures, options, and bonds can do so via Trader Workstation, which is considered suitable for intermediate and advanced traders. MT4 is more fitting for beginners.
RockGlobal gives customers access to various risk management tools, including take-profit and stop-loss orders. Kiwis who create live accounts can fund them with locally available methods like POLi but cards and bank transfers are accepted as well. The only rub is the broker might charge processing fees for transactions conducted via specific payment methods. The applicable fees associated with each payment solution are clearly listed in the client portal, however.
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Regulators
Australian Securities and Investments Commission (ASIC)
New Zealand Financial Markets Authority (FMA)
Vanuatu Financial Services Commission (VFSC)
Mauritius Financial Services Commission (MFSC)
Platforms
MT4, MT5, Iress ViewPoint
7. TMGM
Min Deposit
$100
Fees
Free deposits and withdrawals
A $30 monthly maintenance fee on dormant accounts
Deposit Methods
Commissions
A $7 round-turn commission for Edge accounts
No commissions for Classic accounts
Spread
From 0.0 pips
Withdrawal Methods
Leverage EU
500:1 for major forex crosses for European customers
Leverage non-EU
New Zealand: 200:1 for forex pairs and gold
100:1 for indices, energies, and metals other than gold
Other Jurisdictions: 500:1 for major and minor forex crosses
400:1 for gold
100:1 for other metals, energies, major and minor indices
Instruments
Forex, stocks, precious metals, energies, indices, cryptocurrencies, CFDs,
Trademax Global Markets (NZ) Limited (NZBN: 9429046269300) is a financial services company and is the licensed derivatives issuer in New Zealand (License issued by the FMA) (FSP 569807). The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website, you should consider the appropriateness of the information regarding your objectives, financial situation and needs. Investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own or have any interest in the underlying assets. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
Launched in 2013, TMGM is a trusted CFD provider with over $220 billion in trading volume and a strong presence in more than 150 countries worldwide. The company works with seven top-tier liquidity providers and is regulated in four jurisdictions, including Vanuatu, Australia, Mauritius, and New Zealand. TMGM serves as a gateway to over 12,000 tradable products across seven asset classes, including forex crosses, commodities, cryptocurrencies, shares, and indices.
Forex traders can dabble in 60 currency pairs, while those who prefer to invest in shares can choose from north of 12,000 global stocks tradable via the MT4 and Iress platforms. Earning dividends on your shares is also possible at TMGM. Customers can diversify their portfolios by adding commodities like gold, silver, platinum, crude oil, and natural gas. All these instruments are available for trading on margin, with leverage caps of 500:1 for major and minor forex crosses, 400:1 for gold, and 100:1 for other precious metals, energies, and indices.
TMGM offers superior trading conditions as the spreads for certain forex majors are as low as zero pips. No commissions are in place for traders who set up Classic live accounts but Edge account holders will incur $7 round-turn charges. Each client can register no more than five live accounts. Honing your trading skills and expertise in demo mode is an option.
The leading broker works with a broad range of payment solutions, enabling customers to transact with POLi, Neteller, Skrill, Wise, Revolut, Visa, and Mastercard. There are no additional fees on deposits and withdrawals, which is yet another advantage of joining TMGM. The brokerage operates in full compliance with the requirements of its regulators and stores client funds in segregated accounts at tier-1 banks like New Zealand’s ASB Bank and National Bank Australia (NAB).
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Regulators
Australian Securities and Investments Commission (ASIC)
Cyprus Securities and Exchange Commission (CySEC)
Seychelles Financial Services Authority (SFSA)
British Virgin Islands Financial Services Commission (BVI FSC)
Platforms
MT4, MT5, TradingView, Proprietary Platform
8. easyMarkets
Min Deposit
$25 on standard accounts
Fees
Free deposits and withdrawals
$25 for monthly maintenance after one year of inactivity
Deposit Methods
Commissions
No commissions on MT5
Spread
From 0.5 pips for forex majors
Withdrawal Methods
Leverage EU
30:1
Leverage non-EU
500:1 (varies based on account type)
Instruments
Forex, metals, soft commodities, indices, cryptocurrencies, CFDs, stocks, forwards, options
Trade Responsibly: CFDs and Options are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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 is an attractive destination for retail traders from New Zealand and Australia. The company offers excellent trading conditions, including competitive spreads, zero slippage, and no hidden fees. Registered customers who trade via the MT4 platform would benefit from fixed spreads, while those who use MT5 can take advantage of floating spreads that start from as little as zero pips for forex majors.
A varied range of tradable assets is available at easyMarkets, including forex, stocks, indices, and commodities. Traders with greater risk tolerance can dabble in more volatile financial instruments, such as cryptocurrencies and options. Retail customers can increase their market exposure through the use of leverage but the maximum ratios are account and platform-specific. Clients who use the broker’s proprietary software or TradingView can leverage their positions at a maximum ratio of 200:1. The ceiling for MT4 and MT5 accounts stands at 400:1 and 500:1, respectively.
The broker offers a range of unique tools that enable customers to tailor their experience based on their personal investment goals and risk appetite. The dealCancellation feature allows clients to reverse their losing trades within one to six hours in exchange for paying a nominal fee. They can open and close positions at a specific price with the help of the Freeze Rate feature. Additionally, the broker provides negative balance protection and guaranteed stop-loss orders. All in all, easyMarkets is a fitting spot for traders looking for greater value, transparent pricing, and lots of risk management tools.
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Regulators
US Securities and Exchange Commission (SEC)
US Commodity Futures Trading Commission (CFTC)
UK Financial Conduct Authority (FCA)
Australian Securities and Investments Commission (ASIC)
Hong Kong Securities and Futures Commission (SFC)
Central Bank of Ireland (CBI)
Investment Industry Regulatory Organization of Canada (IIROC)
Central Bank of Hungary (CBH)
Luxembourg Commission de Surveillance du Secteur Financier (CSSF)
Monetary Authority of Singapore (MAS)
Platforms
IBKR GlobalTrader, IBKR Mobile, Trader Workstation, IBKR EventTrader, Web Client Portal, IBKR API, IMPACT
9. Interactive Brokers
Min Deposit
No minimum deposit requirements
Fees
One free withdrawal per month
No fees for electronic deposits
No inactivity fees
Deposit Methods
Commissions
IBKR Pro Accounts: $2 round-turn commission for index options, $1 per order for stock options
$5 per futures contract
IBKR Lite Accounts: $0.50 to $1.50 per index options contract
$1 per stock options contract
Spread
From 0.2 pips for EUR/USD
Withdrawal Methods
Leverage EU
30:1
Leverage non-EU
100:1
Instruments
Spot forex, spot gold, stocks, cryptocurrencies, ETFs, CFDs, options, bonds, futures, mutual funds, hedge funds
Options involve risk and are not suitable for all investors. For more information read the Characteristics and Risks of Standardized Options, also known as the options disclosure document (ODD). Alternatively, please contact IB Customer Service to receive a copy of the ODD. Before trading, clients must read the relevant risk disclosure statements on our Warnings and Disclosures page. Trading on margin is only for experienced investors with a high risk tolerance. You may lose more than your initial investment. For additional information about rates on margin loans, please see Margin Loan Rates. Security futures involve a high degree of risk and are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading security futures, read the Security Futures Risk Disclosure Statement. Structured products and fixed income products such as bonds are complex products that are riskier and are not suitable for all investors. Before trading, please read the Risk Warning and Disclosure Statement.
Interactive Brokers provides quality trading services to customers from more than 200 jurisdictions, allowing them to dip their toes in a vast array of tradable assets like stocks, spot currencies, spot gold, cryptocurrencies, bonds, options, indices, and futures. All these instruments are available via a single unified platform overloaded with useful features that enable users to tailor their experience to their individual goals and needs.
The established brokerage offers low spreads from 0.2 pips on major currency crosses like EUR/USD. Commissions are charged on options and spot currency trading but the fees are generally quite tolerable. The broker facilitates trading via several in-house-built platforms and is fully transparent about their features and associated costs. Lite and professional accounts are available.
The range of payment options is a bit limited as live account holders can fund their balance via bank transfers, checks, and electronic fund transfers. Availability largely depends on your country of residence. Kiwi customers, for example, can deposit only with Wise and bank transfers. Other than that, we consider this brokerage suitable for Kiwis with extensive experience in the financial markets. The website is not among the user-friendliest as it features tons of information that can be overwhelming and difficult to digest. Advanced traders will not go wrong if they choose Interactive Brokers, though.
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Regulators
Seychelles Financial Services Authority (SFSA)
South Africa Financial Sector Conduct Authority (FSCA)
Platforms
MT4, WebTrader, Pro Trader, AppTrader
10. Moneta Markets
Min Deposit
$50
Fees
Free deposits and withdrawals
No inactivity fees
Deposit Methods
Commissions
A $0.06 round-turn commission per 0.01 lot on forex crosses via True ECN accounts
$6 per order for US and Aussie stock CFDs
$19 per side for UK stock CFDs
$16 per side for EU stock CFDs
Spread
From 0.0 pips
Withdrawal Methods
Leverage EU
1,000:1 for forex majors, precious metals, and indices
500:1 for energies
33:1 for stocks
50:1 for soft commodities
Leverage non-EU
1,000:1 for forex majors, precious metals, and indices
500:1 for energy commodities
50:1 for soft commodities
33:1 for stock CFDs
Instruments
Forex, commodities, stocks, indices, ETFs, CFDs, bonds
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading derivatives is risky. It isn't suitable for everyone; you could lose substantially more than your initial investment. You don't own or have rights to the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't consider your personal objectives, financial circumstances, or needs. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
More than 70,000 customers worldwide entrust Moneta Markets with their trades and there is a very good reason why. The reputable brokerage was built from the ground up with one clear purpose in mind, namely to deliver a seamless, low-cost, and transparent online trading experience to investors from around the world. The company boasts over ten years of experience as a leading financial markets specialist and handles a monthly trading volume that averages $100 billion.
Moneta Markets clients have access to over a thousand financial instruments across various asset classes. Over 45 major, minor, and exotic forex crosses are available for trading at razor-sharp spreads as low as zero pips. There are plenty of opportunities for portfolio diversification at Moneta Markets where you can find 15 of the most liquid soft and hard commodities, including natural gas, gold, oil, orange juice, and coffee.
Customers can capitalize on the price fluctuations of more than 635 global stocks. CFDs are available for the shares of the world’s biggest companies like Apple, Google, Amazon, and Vodafone. These are tradable via robust platforms like MetaTrader 4, WebTrader, and Pro Trader. The maximum leverage clients can benefit from is capped at 1,000:1. Several account types are available, including Direct STP ($50 min. deposit), Prime ECN ($200 min. deposit), and Ultra ECN ($50,000 min. deposit).
The broker prioritizes the safety of customers’ funds and segregates them in a trust account held at a top-tier bank. Retail clients who trade on margin are safeguarded with negative balance protection. All common payment methods are supported, with Kiwi customers being able to transact in their local NZD as their base account currency.

Trading Regulation in New Zealand

The Financial Markets Authority (FMA) regulates the operations of all financial services providers in New Zealand, issues licenses to brokerages, and monitors for compliance with local laws. It was established as an independent Crown entity under the provisions of the Financial Markets Authority Act 2011 and carries out its regulatory functions in line with the requirements laid down in the Financial Markets Conduct Act 2013.

The FMA has the mandate to launch investigations against locally licensed financial services providers and prosecute them for regulatory breaches. The body oversees the provision of all financial products in New Zealand, including debt securities, stocks, spot currencies and commodities, and mutual funds.

High-risk derivative products like contracts for differences (CFDs) and binary options also fall within the regulatory scope of the watchdog. As of late 2017, all brokers that offer short-term derivatives to residents of New Zealand must apply for and obtain licenses from the FMA whether they are based within the country or operate from abroad.

Forex Trading Regulation in New Zealand

The provision of foreign exchange trading services is a regulated activity in New Zealand and requires authorization from the Financial Markets Authority. Each forex broker must procure a license from the FMA before they can legally transact with forex traders from the country. FMA licenses come with unique Financial Service Provider (FSP) numbers that enable Kiwi customers to identify the firms in the regulator’s licensee register. For instance, BlackBull Markets services Kiwis under the FSP number 1002113.

The FMA defines ‘brokers’ as financial services providers that store and transact with client funds on their behalf. The category is broad and includes spot forex brokers, stock brokers, derivative issuers, portfolio management providers, and financial advisors. Insurance and mortgage firms are excluded from the definition as they typically do not hold the money of their customers.

FMA-licensed forex trading providers are required to store the money of their clients in segregated accounts separate from those they use to hold their operational funds. Additionally, they are expected to maintain detailed records of their customers’ money and report them to the local financial regulator. Additionally, all forex brokerages that seek to procure licenses from the watchdog must join an approved dispute resolution scheme.

Licensees are expected to provide clear and transparent information about the costs associated with each buy and sell transaction. They must operate in strict compliance with New Zealand’s anti–money laundering laws that require them to verify the identity and source of funds of each Kiwi customer they transact with. The brokers must have registered offices in the country and are subject to a corporate income tax of 28%.

The FMA maintains a registry of all companies that provide financial services and products to residents of the country without proper authorization. It warns New Zealanders against trading with such unregistered businesses since they will have little to no protection if something goes wrong.

Stocks Trading Regulation in New Zealand

The provision of equity securities in New Zealand is also monitored by the Financial Conduct Authority, which boasts a membership in the International Organization of Securities Commission (IOSCO). Brokers can provide spot and leveraged stock trading to New Zealanders as long as they procure a license from the local regulatory body. All individuals and business entities that deal with stock trading must obtain a common shareholder number, or CSN, which typically starts with the letter ‘R’ followed by nine random characters and digits.

It helps identify your share bundles and distinguishes them from the stock holdings of other market participants. Kiwis who hold bundles of shares can typically find their common shareholder numbers in the upper right corner of their holding statements. Apart from the CSN, all Kiwi shareholders must procure faster identification numbers (FINs). These basically serve as four-digit authorization codes similar to the PINs assigned to credit and debit cards. Traders must provide their chosen stock brokers with their FINs before they can purchase or sell any shares.

Last but not least, traders from New Zealand can legally participate in the so-called ‘stock lending’. This is a relatively new activity that belongs to the category of passive investing. It involves lending your shares to other investors in exchange for a certain fee. Stock lending enables traders to profit from their stocks without executing trades or waiting to receive any dividends. Online traders usually must activate this option from their account settings before their broker can start offering their shares to interested borrowers. The initial owner still earns dividends and can sell their shares whenever they wish.

The original shareholder receives a portion of the fee paid by a borrower, while the remainder is collected by the online trading platform that facilitates the transaction. According to the FMA, this practice is currently available only to Kiwi retail customers who own shares publicly traded on US stock exchanges. The regulatory body warns about the risks associated with stock lending and advises New Zealanders to thoroughly inform themselves before they start lending out their shares.

CFDs Trading Regulation in New Zealand

Derivative trading is another stringently monitored activity regulated by the Financial Markets Authority. Derivatives comprise an extremely broad category that covers high-risk speculative instruments, including contracts for differences (CFDs), forward and future contracts, swaps, and binary options, among others. The FMA announced in 2017 that all providers of derivative products with short-term duration must acquire derivative issuer licenses before they can service retail clients from New Zealand. This includes contracts for differences that settle within three days.

The regulatory body rolled out the measure after noticing a surge in retail client complaints about unauthorized derivative issuers. Licensing conditions require derivative issuers to ensure retail traders have sufficient expertise, understanding, and experience in trading with CFDs. A license holder should not enter into any type of derivative contract with a customer who does not satisfy these criteria.

If a client declines to provide the information necessary for proper evaluation, the broker must warn them about the financial risks an individual is running when trading with derivatives that are unsuitable for them. The warning should be posted in a prominent place on the website for all clients to see. Licensed brokers are not required by law to provide customers with financial advice about derivative trading. The main purpose of these suitability checks and risk warnings is to reduce the likelihood of short-duration derivatives being sold to individuals who lack a sufficient understanding of the risks involved.

As for maximum leverage, the FMA has the authority to impose leverage caps at its sole discretion but whether or not it does so remains unclear. There is no information about maximum leverage on the regulator’s official website. A paper published by New Zealand’s Ministry of Business, Innovation, and Employment states the financial markets watchdog currently does not enforce CFD leverage caps, although it has the legal mandate to do so. With that in mind, most CFD brokers licensed by the FMA restrict the leverage on retail accounts to 500:1.

New Zealand Trading Regulations FAQ

1. Are Kiwi traders taxed on their profits?

2. Are binary options legal in New Zealand?

3. Are Kiwi traders legally prosecuted for using the services of unauthorized brokers?

4. Can I legally trade with cryptocurrencies in New Zealand?

5. How can I ensure my chosen broker is authorized?

Funding and Withdrawing from New Zealand Trading Account

All brokers recommended on this page allow new customers to test their trading platforms in advance by setting up free demo accounts topped up with virtual credits. While this is a great way to give their products a test drive without running any risk, sooner or later you must deposit to start trading with real money via a live account. The good news is Kiwi-friendly brokers offer a balanced range of deposit and withdrawal methods, including locally available solutions like POLi.

Depositing at New Zealand Trading Accounts

New Zealand-friendly brokers cater to Kiwi traders with a nice range of secure payment solutions and rarely impose additional charges on deposits. New Zealanders can commonly deposit with credit and debit cards. The supported card brands are broker-specific but most trading sites generally accept Visa, Visa Electron, Mastercard, and Maestro. Card brands like Discover, JCB, American Express, and Diners Club are also accepted by some brokerages.

E-wallets comprise the second largest category of deposit methods suitable for Kiwi traders. Skrill, Neteller, PayPal, Perfect Money, and Sticpay are some of the most broadly available options from this category. E-wallet deposits are, by and large, free of processing fees. Deposited funds reflect in your live account balance almost instantly, which is yet another advantage of transacting with e-wallets. On the downside, traders must register and add money to their e-wallet balance via credit/debit card or bank transfer, which may prove inconvenient to some people.

Locally available online banking processors like POLi are another option for depositing traders from New Zealand. The POLi platform acts as an intermediary between payees and their banks, allowing them to deposit quickly, conveniently, and securely. A subscription for the online banking services of a supported bank is necessary, however. Several major banks in New Zealand are currently part of the POLi network, including Westpac, TBS, Kiwibank, and BNZ.

Depositing via conventional wire transfers is also possible but requires patience due to the longer processing timeframes associated with this method. Domestic wire transfers may take three business days and may incur nominal charges with some brokerages. Cryptocurrency deposits are supported at some trading sites, FBS being one example. Bitcoin, Ethereum, Litecoin, Tether, and Bitcoin Cash boast broad support and allow for instant low-cost transactions. There are usually no extra fees on the brokers’ side but the cryptocurrency platform facilitating the payment may charge a small commission.

Common Deposit Methods Offered by New Zealand Brokers
Type of Method	Usual Limits per Transaction	Processing Timeframes	Processing Fees
Credit and Debit Cards	$0 – $10	Instant	Free
Digital Wallets	$0 – $10	Instant	Free
Wire Transfers	$10 – $100	Up to 3 days for domestic transfers	Generally free
Online Banking	$10.00	Instant	Free
Cryptocurrencies	0.01 BTC 0.10 LTC	Instant	Crypto network commissions apply in some cases

Withdrawing from New Zealand Trading Accounts

Withdrawal methods vary wildly based on where you trade, with each broker having different withdrawal policies, transaction limits, and processing timeframes. Visa, Visa Electron, and Maestro cards are broadly supported, although some brokerages like CMC Markets are unable to return withdrawals to Mastercard due to regulatory restrictions. Unlike deposits, card withdrawals require several business days to process but waiting times depend on the specific broker. For instance, FBS requires around three days to return withdrawals to debit or credit cards.

Digital wallets and cryptocurrencies, when accepted, facilitate the fastest transactions. Withdrawals with these methods generally take place on the day traders have requested them. New Zealand traders need not worry about transaction costs as extra charges are rarely in place when withdrawing with e-wallets. Again, it all depends on where you trade. Some brokers like Admirals offer one free e-wallet withdrawal per month. Subsequent requests with Perfect Money sent within the same month are subject to a 1% processing fee.

Wire transfers are easily the most widespread withdrawal method offered by Kiwi-friendly brokers. This is the least time-efficient option as the requested funds usually reach traders within three business days in the best-case scenario with domestic transfers. Another disadvantage associated with this method is that it might cost you extra in some cases. When in place, the fees on wire transfers usually average $10 or so. The minimum amount Kiwis can request to cash out from their live trading balance is normally $10, although some brokers like FBS have a lower requirement of $1 only. The lowest amount traders can withdraw via wire transfers is set at $100 in most cases.

Common Withdrawal Methods Offered by New Zealand Brokers
Type of Method	Usual Limits per Transaction	Processing Timeframes	Processing Fees
Credit and Debit Cards	$1 – $100	2 to 5 business days	Free
Digital Wallets	$1 -$100	30 minutes to 48 hours	Free
Wire Transfers	$50 – $100	1 to 3 business days for domestic transfers	$10 in most cases
Online Banking	$1 – $100	1 to 2 business days	Free
Cryptocurrencies	Varies	Same day	Crypto network commissions may apply

New Zealand Trading Platforms

The trading platform a broker uses to execute client orders bears consideration because it serves as your direct gateway to the financial markets. A good trading platform facilitates seamless order execution within a split second, supports a broad range of asset classes, and is rich in useful features that accommodate superior technical analysis.

Most New Zealand-friendly brokers work with the enormously popular third-party platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), but TradingView is also available in some cases. Firms like Interactive Brokers prefer to use exclusively proprietary software, providing traders with a choice from several in-house platforms, each with unique specifications.

MT4 and MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) outperform all other platforms in terms of popularity, offering a superior trading experience, fast order execution, and a host of useful analytics tools. Created by MetaQuotes, both platforms boast widespread support among New Zealand-friendly brokers. MT4 was developed specifically with the needs of forex traders in mind, although it facilitates CFD trading with a range of other assets like commodities, indices, and shares.

Released in 2005, this earlier version of MetaQuotes’ software is suitable for novice traders as it comes with a user-friendly, yet highly customizable interface that allows them to tailor their experience to their individual needs and trading style. Kiwis will benefit from a broad range of technical indicators and graphical objects as well as four types of pending orders. The one-click trading feature greatly simplifies and speeds up the trading process. The platform is not without its shortcomings, however, as it lacks an economic calendar and does not support netting or exchange trading.

The newer version MetaTrader 5 (MT5) is a wise choice for well-versed Kiwi traders who wish to take their trading experience to the next level. The successor of MT4 facilitates trading with a larger number of asset classes, including bonds, options, and futures. It has more technical indicators and charting tools as well as a greater number of timeframes, ranging from a minute to a month.

MT5 stands out with superior backtesting capabilities, allowing users to test their trading strategies at a higher speed. An economic calendar is also integrated within the platform, providing traders with valuable information about significant microeconomic events that could impact asset prices. Many Kiwi-friendly brokers support MT4 as well as MT5, giving traders the opportunity to test both via free demo accounts to better weigh up their pros and cons. Just keep in mind that you must set up two separate accounts since logging into the MT4 platform with your MetaTrader 5 account is impossible and vice versa.

TradingView

Many leading brokerages that service traders from New Zealand support TradingView, an advanced charting platform that is implemented by more than 50 million people worldwide. The platform offers over 15 customizable types of charts, including Kagi, Renko, and Point-and-Figure. Trading derivatives like options and futures directly through charts is also possible via this state-of-the-art platform.

TradingView is a great fit for traders who wish to perform in-depth technical analysis as it is equipped with over a hundred built-in technical indicators and more than 90 advanced drawing tools. Users can conveniently tailor the charts to their individual needs with the help of various overlays and indicators.

TradingView facilitates in-depth fundamental analysis, providing traders with historical information about the past price movements of different markets. Users can test custom and ready-made trading strategies and are provided with comprehensive reports about their performance. Creating custom timeframes is also possible but users must subscribe and pay for the feature.

The platform enables smooth technical analysis, with traders having the option to create their own technical indicators with minimal effort in TradingView’s Pine Script programming language, which is considerably simpler to master compared to the syntax used by rival platforms. TradingView is also home to a thriving global community of investors, allowing Kiwis to exchange ideas and share strategies with fellow users. The platform is available in downloadable and web format and is fully compatible with mobile devices.

ProRealTime

ProRealTime is a state-of-the-art platform for charting and technical analysis offered by some leading New Zealand-friendly brokerages like IG. The platform supports trading with many different types of assets, including forex crosses, contracts for differences, shares, commodities, interest rates, bonds, and futures. The software is intended for well-versed investors who seek to perform thorough technical analysis and want to automate their trading experience.

Users have access to decades of historical data, which allows them to accurately backtest customer and third-party trading strategies. Traders can improve their results by taking advantage of more than 100 technical indicators. These are fully configurable and users can change nearly everything, including their parameters and the charts’ colors.

Chartists who opt for this platform can stay ahead of the curve as ProRealTime provides low-latency data feeds straight from the biggest exchanges in the world. Traders can open and close their positions directly from charts and will benefit from in-depth trading reports. ProRealTime ensures lightning-fast order execution and gives users access to the latest news from the financial markets in real time.

All in all, this platform offers great value and provides some of the most comprehensive backtesting tools traders from New Zealand can hope for. It has over one million users worldwide who favor it over rival platforms due to its efficiency, excellent order execution, and varied assortment of great analytics functionalities.

Iress ViewPoint

Iress ViewPoint is not as broadly available at New Zealand brokers but definitely deserves a mention due to its great usability, superior charting features, and real-time price data. It gives retail traders access to state-of-the-art analytic tools and is compatible with a wide range of browsers. It combines intuitive design, time efficiency, and flexibility, allowing you to trade multiple assets within a single browser-based interface compatible with Windows 7 (or later) and MacOS.

Mostly geared toward the needs of share traders, the ViewPoint platform offers a diverse range of tools for fundamental and technical analysis. It comes with more than 55 charting indicators and dozens of drawing tools that enable users to easily identify lucrative market opportunities. Iress ViewPoint provides accurate market data in real time as well as access to real exchange prices.

Users can create their own custom-built trade alerts. Additionally, the platform is compatible with Microsoft Excel, which allows traders to perform personalized calculations and analysis. ViewPoint, which came as a substitute for the now-discontinued Iress Trader, is a great choice for all New Zealanders looking to enhance their trading experience. The only downside of this platform is that it requires paying a monthly trading fee with some brokers, especially if customers have a low trading volume per calendar month.

Best New Zealand Trading Platforms