Best New Zealand Forex Brokers

BrokerNotes.co

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by John Bringans

April 19, 2024

The first step for every forex trader should be choosing a reliable, well-regulated forex broker. The team at BrokerNotes has conducted extensive research and data collection on international forex brokers and the local regulatory environment to create this guide for New Zealand-based forex traders. Read more to learn which forex broker is best for your needs.

travel_explore A little bit of New Zealand trivia

Check out some general New Zealand facts as well as some info about some of the country's most important financial bodies in the paragraph below, generated by ChatGPT (to learn more about how we ethically incorporate AI into our content, read our generative AI policy).

The population of New Zealand is estimated to be around 4.9 million. The national currency is the New Zealand Dollar, denoted by NZD. The central bank of New Zealand is the Reserve Bank of New Zealand. The primary responsibilities of the Reserve Bank of New Zealand include formulating and implementing monetary policy, maintaining price stability, promoting smooth functioning of the payments system, managing the official foreign reserves and issuing currency. In addition to the Reserve Bank, the Financial Markets Authority (FMA) is also a financial markets regulator in New Zealand, with responsibilities such as fostering and maintaining fair, efficient and transparent financial markets, and promoting confidence in them. FMA is also responsible for licensing and monitoring financial service providers, banks, and brokers.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading 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 Forex Brokers New Zealand for 2024

  • IG
    - 9.9/10 Overall
  • Plus500 - 8.6/10 Overall
  • BlackBull Markets - 8.0/10 Overall
IG
star 9.9/10 Overall
Minimum Deposit£250.00
Tier-1 Licenses8
Tradeable Symbols (Total)19537

Year after year, IG has shown itself to be the best broker in the forex industry and a fantastic choice for forex traders. Highly trusted and regulated across the globe, IG delivers a wide variety of rich features, market research, and powerful trading tools. Fans of copy trading will appreciate IG’s seamless integration of trading signals into its web platform. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
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Join 239,000+ traders worldwide.

(Trading forex carries a high level of risk.)

Plus500
star 8.6/10 Overall
Minimum Deposit€100
Tier-1 Licenses6
Tradeable Symbols (Total)5500 info

Plus500 is a highly-trusted broker that delivers share trading via the Plus500 Invest platform and a good selection of CFDs via the broker’s separate Plus500 CFD platform. Though Plus500 doesn’t offer MetaTrader, we found its proprietary trading platform to be intuitive and easy to use. Plus500 is still a great choice for less demanding traders. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)No
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
BlackBull Markets
star 8.0/10 Overall
Minimum Deposit$0
Tier-1 Licenses1
Tradeable Symbols (Total)26000

BlackBull Markets offers the full MetaTrader suite, a proprietary copy trading platform, as well as integration with the popular TradingView platform. Traders at BlackBull Markets gain access to share trading, CFDs, and a growing range of markets from its brands regulated in New Zealand and the Seychelles. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes

What are the best New Zealand forex brokers?

We’ve tested over 60 international forex brokers and created unbiased, data-driven broker ratings to show you the best forex brokers in the industry. To help you navigate the world of forex regulations and choose a broker that you can trust, our expert research team has built a proprietary database containing over 100 global regulatory licenses and jurisdictions; that research determines each broker's individual Trust Score. Check out our top picks for the best New Zealand forex brokers:

Winner: IG

Year after year, IG has shown itself to be the best broker in the forex industry. Highly trusted and regulated in a staggering eight Tier-1 jurisdictions, IG holds a Trust Score rating of 99. Though IG does offer MetaTrader 4, IG’s proprietary web-based trading platform steals the show with its wide variety of rich features, market research, and powerful trading tools. Fans of social copy trading will appreciate IG’s seamless integration of trading signals into its web platform. IG has won countless Annual Awards from our sister site, ForexBrokers.com, and is a fantastic choice for forex traders of all experience levels.

IG Trading Platform Screenshots

IG Features

  • Overall rating - 9.9/10
  • Trust Score - 99
  • Tradeable symbols - 19537
  • Minimum deposit - £250.00

Runner Up: Plus500

Plus500 is a highly-trusted broker that holds six Tier-1 regulatory licenses from reputable jurisdictions around the globe and has a Trust Score rating of 99. Traders at Plus500 gain access to share trading via the Plus500 Invest platform, and CFD traders will find good selection of CFDs available via the broker’s separate Plus500 CFD platform. Though Plus500 does not provide access to the popular MetaTrader suite, we found its proprietary trading platform to be intuitive. While its educational content and range of research trails category leaders, Plus500 is still a great choice for less demanding traders.

Plus500 Trading Platform Screenshots

Plus500 Features

  • Overall rating - 8.6/10
  • Trust Score - 99
  • Tradeable symbols - 5500
  • Minimum deposit - €100

Podium Finisher: BlackBull Markets

BlackBull Markets is an up-and-coming broker that offers the full MetaTrader suite (both MetaTrader 4 and MetaTrader 5), a proprietary Social Copy Trading platform, as well as integration with the popular TradingView platform. Traders at BlackBull Markets gain access to share trading, CFDs, and a growing range of markets from its brands regulated in New Zealand and the Seychelles. BlackBull Markets' educational content has grown in recent years, but still trails behind what's offered by the best forex brokers in that category.

BlackBull Markets Trading Platform Screenshots

BlackBull Markets Features

  • Overall rating - 8.0/10
  • Trust Score - 78
  • Tradeable symbols - 26000
  • Minimum deposit - $0

Compare trading costs for the best New Zealand forex brokers

Based on our own data (our independent database contains over 4,000 data points), this table compares trading costs for the top New Zealand forex brokers.

Company Accepts NZ Residents Minimum Deposit Average Spread EUR/USD - Standard Average Spread EUR/USD - Mini All-in Cost EUR/USD - Active Active Trader or VIP Discounts
IG logoIG check £250.00 0.98 info 0.98 info 0.82 info Yes
Plus500 logoPlus500 check €100 1.5 info 1.5 info 1.5 info No
BlackBull Markets logoBlackBull Markets check $0 0.76 info 1.27 info 0.76 info Yes
Interactive Brokers logoInteractive Brokers check $0 0.63 info 0.63 info 0.63 info Yes
AvaTrade logoAvaTrade check $100 0.92 info 0.92 info 0.61 info Yes

Comparing trading platforms between New Zealand forex brokers

Trading platforms grant access to the foreign exchange market and allow you to analyze market conditions, manage positions, and execute trades. Check out a side-by-side comparison of the trading platforms available at the best New Zealand forex brokers, based on our independent product testing.

Company Accepts NZ Residents Desktop Platform (Windows) Web Platform Proprietary Platform MetaTrader 4 (MT4) MetaTrader 5 (MT5) ZuluTrade cTrader
IG logoIG check Yes Yes Yes Yes No No No
Plus500 logoPlus500 check No Yes Yes No No No No
BlackBull Markets logoBlackBull Markets check Yes Yes No Yes Yes Yes Yes
Interactive Brokers logoInteractive Brokers check Yes Yes Yes No No No No
AvaTrade logoAvaTrade check Yes Yes Yes Yes Yes Yes No

Comparing investment options between New Zealand forex brokers

We closely monitor the availability of investment products such as forex trading (CFD and spot), stocks (CFD and non-CFD), spread betting, ETFs, and social copy trading – among many others. These investment types are tracked as variables within our extensive independent database. Check out the offering of investments at the top New Zealand forex brokers.

Company Accepts NZ Residents Forex Trading (Spot or CFDs) Spread Betting Social Trading / Copy Trading U.S. Stocks (CFD)
IG logoIG check Yes Yes No Yes
Plus500 logoPlus500 check Yes info No No Yes
BlackBull Markets logoBlackBull Markets check Yes No Yes Yes
Interactive Brokers logoInteractive Brokers check Yes No No Yes
AvaTrade logoAvaTrade check Yes Yes Yes Yes

What is the best forex broker in New Zealand?

IG is our pick for the best forex broker in New Zealand. Founded in 1974, IG holds licenses across a number of notable global regulatory jurisdictions, and has earned an overall Trust Score rating of 99. IG's impressive offering of 19537 tradeable symbols opens up a wide variety of trading opportunities for its clients. If you are interested in opening an account, the minimum deposit to get started as a trader at IG is £250.00. We've tested and reviewed dozens of forex brokers and created unbiased, data-driven broker ratings to highlight the best forex brokers in the industry. Our overall rating for IG is 9.9/10. Read our data-driven broker reviews to learn more.

Check out a gallery of screenshots from IG's trading platforms, taken by our research team during our product testing.

Best New Zealand Forex Brokers

Here are our picks for the best forex brokers that accept New Zealand-based clients in 2024. The below table is sorted by the brokers' Overall Ratings.

Company Accepts NZ Residents Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Read Review Visit Site
IG logoIG check 9.9 £250.00 0.98 info IG Review Visit Site
Plus500 logoPlus500 check 8.6 €100 1.5 info Plus500 Review Read Review
BlackBull Markets logoBlackBull Markets check 8.0 $0 0.76 info BlackBull Markets Review Read Review
Interactive Brokers logoInteractive Brokers check 9.9 $0 0.63 info Interactive Brokers Review Visit Site
AvaTrade logoAvaTrade check 8.7 $100 0.92 info AvaTrade Review Read Review
Admirals logoAdmirals check 8.5 $100 0.8 info Admiral Markets Review Read Review
XM Group logoXM Group check 8.4 $5 1.6 info XM Group Review Read Review
FP Markets logoFP Markets check 8.3 $100 AUD 1.1 info FP Markets Review Read Review
Tickmill logoTickmill check 8.1 $100 0.51 info Tickmill Review Read Review

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Methodology

At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and 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 about foreign exchange risk.

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