Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Best New Zealand Trading Brokers

The Best New Zealand BrokersDespite 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.
RegulatorFinancial Markets Authority (FMA)
Forex Trading Leverage500:1
Stock Trading Leverage20:1
CFD Trading Leverage500:1

The Best New Zealand Brokers

The Best New Zealand BrokersWe 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.

Trading Regulation in New Zealand

The Best New Zealand Brokers
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

Forex Trading Regulation in New ZealandThe 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

Stocks Trading Regulation in New ZealandThe 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

CFDs Trading Regulation in New ZealandDerivative 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?

Yes, investment and trading profits belong to the category of taxable income in New Zealand. Traders who profit from bond interest, share dividends, or asset price movements must pay resident withholding taxes on their income. The tax rates fluctuate from 10.5% to 39%, depending on a trader’s overall annual income. The minimum rates apply to individuals who earn less than $14,000 per year, while the ceiling of 39% is levied on annual income that exceeds $180,000.

2. Are binary options legal in New Zealand?

Binary options are legal under New Zealand’s financial markets legislation but their authorized provision requires a derivative issuer license from the FMA. We recommend you properly inform yourself about how this short-term derivative instrument works and the financial risks it involves before you start trading with it. Also known as ‘digital options’ or ‘all-or-nothing propositions’, binary options are illegal in many other jurisdictions as they involve an element of gambling.They return fixed amounts of money if traders manage to correctly predict the short-term fluctuations in the prices of different assets like currency crosses, stocks, commodities, or indices. An incorrect guess results in losses for the trader. The FMA advises residents to trade binary options with locally licensed providers only. Traders who use the services of unauthorized offshore businesses run the risk of falling prey to scams, not to mention it would be nearly impossible for them to recover their money in most cases.

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

Kiwis who trade with overseas brokers are not prosecuted by local authorities. However, the situation is different for individuals or firms that provide financial services without proper authorization as this is considered an offense under the provisions of the Financial Services Providers (Registration and Dispute Resolution) Act of 2008. Individuals who commit this offense risk spending time in jail and maximum fines amounting to $100,000. The FMA warns that the fines imposed on unauthorized trading firms who target Kiwi customers can reach $300,000.

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

New Zealand law does not prohibit crypto transactions and trading, although it is worth pointing out such decentralized currencies have no legal tender in the country. Kiwis cannot use them for debt settlement, for example. While there is no comprehensive information about this topic on the official FMA website, the watchdog cautions residents that cryptocurrencies are unpredictable and highly volatile. The regulatory body recommends trading them with FMA-licensed brokers only.

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

The easiest way to check a broker’s regulatory status is by navigating to its website’s footer. Registered trading companies typically publish their license numbers in this section. Another option is to visit the official FMA website where you can find a complete register of all financial services providers authorized by the regulatory body. A registry of unlicensed businesses is also available, containing a full list of the companies the regulator recommends you avoid.

Funding and Withdrawing from New Zealand Trading Account

Funding and Withdrawing from New Zealand Trading AccountAll 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

DepositingNew 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 MethodUsual Limits per TransactionProcessing TimeframesProcessing Fees
Credit and Debit Cards$0 – $10InstantFree
Digital Wallets$0 – $10InstantFree
Wire Transfers$10 – $100Up to 3 days for domestic transfersGenerally free
Online Banking$10.00InstantFree
Cryptocurrencies0.01 BTC
0.10 LTC
InstantCrypto network commissions apply in some cases

Withdrawing from New Zealand Trading Accounts

WithdrawingWithdrawal 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 MethodUsual Limits per TransactionProcessing TimeframesProcessing Fees
Credit and Debit Cards$1 – $1002 to 5 business daysFree
Digital Wallets$1 -$10030 minutes to 48 hoursFree
Wire Transfers$50 – $1001 to 3 business days for domestic transfers$10 in most cases
Online Banking$1 – $1001 to 2 business daysFree
Cryptocurrencies Varies Same dayCrypto network commissions may apply

New Zealand Trading Platforms

New Zealand Trading PlatformsThe 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 4MetaTrader 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.


TradingViewMany 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.


ProRealTimeProRealTime 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 ViewPointIress 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.

New Zealand Trading FAQ

1. Are CFDs regulated in New Zealand?

Yes, CFDs are regulated in New Zealand and their provision requires obtaining a license from the Financial Markets Authority. Brokers looking to offer this type of leveraged product must receive derivative issuer permits from the regulatory body. Kiwi traders can find a complete list of authorized derivative issuers on the official FMA website. Getting enlisted on the Financial Services Provider Register (FSPR) is a prerequisite to procuring a CFD license in New Zealand.

2. Do I have to notify my NZ-friendly broker if I change my permanent address?

It is highly recommended to notify your brokerage if you change your permanent address. If the latter does not coincide with the address you provided during your account’s verification, the broker might be unable to process your payments. The same goes if the credit or debit card you use for payments expires or gets stolen.

3. Do traders from New Zealand have access to swap-free accounts?

Many FMA-licensed brokers, including prominent brands like Admirals, TMGM, and BlackBull Markets, do offer accounts without swap rates or rollover on positions that remain open after the end of the trading day. Please note that customers from New Zealand often have to contact customer support to transition from standard to swap-free accounts, especially if they have already registered.

4. How do New Zealand brokers protect the funds of their customers?

Brokers authorized by the FMA are bound by their licensing conditions to store client funds in segregated accounts. Licensees of the regulatory watchdog must maintain up-to-date records of their customers’ money and not use it to cover their operational expenses. You have nothing to worry about in this respect since all FMA-licensed brokerages hold client money in top-tier local banks like NAB, ANZ, and ASB Bank, among others.

5. Will I experience any slippage or requotes at New Zealand-facing brokers?

You will rarely experience requotes or slippage when trading with trusted New Zealand brokers. FMA-licensed trading providers typically have deep liquidity pools and some even give you direct access to the markets with specific account types or platforms. You will additionally benefit from a lightning-fast speed of order execution. All these factors combined guarantee that Kiwi customers enter their trades at their desired ask and bid prices.