AuthorBy Jeffrey CammackAuthor InformationUpdated: November 17, 2020

Until recently, Forex brokers operating in New Zealand were not subject to strict regulatory oversight. But since 2014, all companies offering derivatives, including all CFD Forex brokers, must be licenced by the Financial Markets Authority (FMA).

From 1 December 2017, providers of short duration derivatives, such as intra-day binary options, have also needed a licence. This has led to a decrease in the number of international brokers operating in New Zealand, there are still many world-class FMA licenced brokers operating in New Zealand.


Best Forex Brokers New Zealand 2020

Last updated on 17 Nov 2020
Updated 17 Nov 2020
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
CMC Markets
Min. Deposit
Min. Spread
0.70 pips
Fx Pairs
Deposit & Withdrawal Methods
11110.54.68/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA.
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CMC Markets are a well-known market maker broker, based in London and operating globally. While it currently only offers a single live account, spreads are tighter than most of its competitors and the required minimum deposit is low enough for all beginner traders. The focus on new traders continues with CMC Market’s education and analysis sections, which are insightful, well-structured and updated frequently.

We also like the proprietary New Generation trading platform, wide asset choice and responsive customer service. Overall, an excellent broker for all traders and one of our highest rated.

  • Well regulated
  • Tight spreads
  • Good for beginners
  • Excellent education
  • Excellent market analysis
  • No swap-free account option
Read More About CMC Markets

New Zealand Financial Markets Authority (FMA)

Though the FMA’s tightening of regulation has forced many international brokers out of the New Zealand market, overall licensing is good for consumers, and the industry as a whole, because:

  • All licensed providers are checked and monitored
  • Customers have more protection. All licenced brokers must belong to a dispute resolution scheme, which will make sure you have a fair hearing if you have problems or a disagreement with your provider
  • All brokers must provide offer and reporting information, which should help you better understand their products and services.

Though it is not illegal for you to use an unregistered broker, it is illegal for an unregistered broker to offer services to New Zealand citizens. This is important to note because, while you can still use an unregistered broker, if the broker is willing to break the law in order to gain your business you must consider how responsible and trustworthy that broker is.

The FMA keeps a list of all brokers licensed to operate in New Zealand – this is kept current and before you sign up with a new broker you should check to make sure that they are licensed.

The FMA also regularly publishes consumer alerts regarding companies and purported representatives who are operating unlicensed in New Zealand. This database is fully searchable and very useful for new traders. It is also worthwhile checking your chosen broker against this database to be doubly sure that there are no outstanding warnings against them.

Dispute Resolution

It is important to note that the FMA will not provide assistance in the case of a dispute between a customer and a broker or other financial service provider.

In New Zealand, all financial service providers must be members of the Financial Service Providers Register (FSPR) and all members of the FSPR must belong to a dispute resolution scheme. There are four approved dispute resolution schemes and all Forex brokers will be members of one of the following:

  1. Banking Ombudsman – mainly deals with disputes between banks and their customers but also deals with complaints about a range of non-bank financial service providers.
  2. Insurance & Financial Services Ombudsman – mainly focused on insurance and savings providers but also provides dispute resolutions for other financial service providers that are members of its scheme.
  3. Financial Services Complaints Limited
  4. Financial Dispute Resolution – operated by FairWay Resolution


Though the new regulatory environment in New Zealand has led to a short-term decrease in the number of international brokers operating in the country, it has also led to a significantly more safe market for retail traders.

The FMA is a very transparent and responsible regulator and, as New Zealand gains a reputation as a reliable and secure country for Forex trading, we strongly believe that the industry will expand again in the future.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.