trade 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 fiscal regulative body in New Zealand. The FMA ‘s web site is fma.govt.nz/. We recommend NZ residents besides follow the FMA on chirrup, @ FMAmedia .
The FMA was formed in May 2011 as character of the Financial Markets Bill passed by New Zealand ‘s Parliament. For a historic breakdown, here ‘s a connection to Financial Markets Authority web page on Wikipedia .
CFDs are building complex instruments and come with a high risk of losing money quickly due to leverage. Between 65 % and 82 % of retail investor accounts lose money when trade 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 number 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 – Trusted broker, great for beginners
- BlackBull Markets – 3.5 Stars
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 under. This agent list is sorted by the tauten ‘s ForexBrokers.com Overall ranking .
How to Verify FMA Authorisation
To identify if a forex agent is regulated as a Financial Services Provider ( FSP ) by the FMA, the inaugural gradation is to identify the register count from the disclosure text at the bottom of the broker ‘s New Zealand home page. For case, here ‘s the key disclosure text from KVB Kunlun ‘s web site,
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 ) .
future, look up the firm ‘s NZ entity name on the FMA web site to validate its current regulative status and FSP number. here is the official FMA page for Financial Services Providers that lists KVB Kunlun New Zealand Limited .
More Forex Guides
For our 2022 Forex Broker Review we assessed, rated, and ranked 39 external forex brokers over a three-month time time period resulting in over 50,000 words of published research .
Each agent was graded on 113 different variables, including our proprietorship Trust Score algorithm. This innovative score arrangement ranks the level of trustworthiness for each broke based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here .
As partially of our annual review action, all brokers had the opportunity to provide updates and key milestones and arrant an in-depth data profile, which we hand-checked for accuracy.
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ultimately, our rigorous data establishment process yields an error rate of less than .1 % each year, providing site visitors with quality data they can trust. 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.Learn more.