Compare top 6 best forex brokers New Zealand for 2025

Our expert panel tested all the best forex brokers in New Zealand and rated their features according to 8 key criteria, including regulatory status, the range of currency pairs on offer, and overall trading experience.

The panel set out to answer the question: what’s the best forex trading app in New Zealand for Kiwi users? 

Read our verdict below to compare the best forex trading platforms in NZ.

What is the best forex broker NZ?

Our experts rank Plus500 as the best forex broker in New Zealand.

The list below shows the three best Kiwi forex brokers. These are the top forex trading apps in New Zealand for their security, service, and support.

4.5

Plus500

Min. Deposit $100

Fees From 2%

No. assets 2800+

Demo account Yes

Visit site

Plus500 review

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.

4.4

IG Markets

Min. Deposit n/a

Fees Spread only

No. assets 17000+

Demo account Yes

Visit site

IG review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and 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.

4.5

Eightcap

Min. Deposit $100

Fees Up to $3.5 RT

No. assets 800+

Demo account Yes

Visit site

Eightcap review

74-89% of retail CFD accounts lose money

Top 6 online forex brokers NZ, reviewed

1. Plus500. Best for international trading*

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4.5

Ratings

$100

Min. deposit

From 0.08%

Fees

2,800

No. assets

Yes

Demo account

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you trade. Its technology driven platform gives access to futures for the two biggest cryptos, Bitcoin and Ethereum. 

Plus500 has something for all types of crypto trader, no matter what level of experience. Its low margin requirements of $20 for Ether and $100 for Bitcoin make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

No. of tradable assets	2800+
Min. Deposit	$100
ID verification required	Yes
Free demo account	Yes
Supported assets	Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Index CFDs, Commodity CFDs
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSA, ASIC, FMA, FCA, CySEC

Fees & Costs

Trading fees	No
Inactivity fees	Yes
Rollover/overnight fees	Yes
Withdrawal fees	No
Spreads	Yes
Conversion fees	Yes

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools

No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Read review Visit Plus500

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.

2. IG Markets: Best for trusted and transparent trading

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4

Ratings

$-

Min. deposit

Spread only

Fees

17,000

No. assets

Yes

Demo account

Overview

We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive market offerings, and strong regulatory compliance. IG offers CFD trading in stocks, forex, commodities, indices, ETFs and more, with plenty of useful plugins and integrations to improve the trading experience.

One of the key strengths of IG Markets is its seamless integration with MetaTrader 4 (MT4), a popular third-party trading platform favored by many traders for its advanced charting tools, automated trading capabilities, and custom indicators. This integration allows users to leverage MT4’s sophisticated features while benefiting from IG Markets’ competitive pricing, reliable execution, and extensive market access.

Beyond its product range and platform integrations, IG Markets stands out for its commitment to education and customer support. The company offers a wealth of educational resources, such as webinars, tutorials, and market analysis, which help traders of all levels improve their knowledge and skills.

The fees: For most assets, you don’t pay a trading fee but will be charged through the spread instead. That’s the difference between the buy and sell price of an asset. IG’s spreads are competitive but variable: you’ll pay a smaller spread on popular assets compared to less popular ones. Share trading works differently, and you’ll be charged a minimum fee on each trade of at least $15.

Highlights

No. of tradable assets	17,000+
Min. Deposit	$0
ID verification required	Yes
Free demo account	Yes
Supported assets	Stock CFDs, ETFs, Forex CFDs, Crypto CFDs, Index CFDs, Commodities
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSCA, MAS, FMA, ASIC, FCA, BaFin, FINMA, DFSA, BMA, CFTC, NFA

Fees & Costs

Trading fees	Yes
Inactivity fees	Yes
Rollover/overnight fees	Yes
Withdrawal fees	No
Spreads	Yes
Conversion fees	Yes

Pros & Cons

Intuitive web trading platform Excellent demo account available Variety of deposit and withdrawal options Wide variety of useful educational tools Trading platform tutorial to get you started

Slow account opening process Unavailable in all regions

Read review Visit IG Markets

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and 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.

3. Eightcap. Best online broker for choice of trading platform

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4.5

Ratings

$100

Min. deposit

Up to $3.5 RT

Fees

800

No. assets

Yes

Demo account

Overview

We love Eightcap because you have several trading platforms to choose from. You can choose between MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms are favourites among retail traders. With the MetaTrade suite of platforms, you can access lots of technical indicators, custom tools, and expert advisors. 

TradingView with Eightcap allows you to trade directly from your charts while accessing the hundreds of tools and features available. Eightcap a selection of over 200 crypto CFDs so there’s an excellent range to choose from. You can trade the biggest coins like BTC/USD and many altcoins like DOGE/USD.  

The fees: Eightcap is a CFD broker and charges spread, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.

Highlights

No. of tradable assets	800+
Min. Deposit	$100
ID verification required	Yes
Free demo account	Yes
Supported assets	Stocks, Crypto, Commodities, , Indices
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	ASIC, FCA, CySEC

Fees & Costs

Trading fees	Yes
Inactivity fees	No
Rollover/overnight fees	Yes, on certain assets
Withdrawal fees	Yes, for certain payment methods
Spreads	Yes
Conversion fees	Yes, currency dependent

Pros & Cons

Low trading fees for CFDs Trade directly from the TradingView platform Regulated by top-tier authorities Leverage up to 1:500 Partnered with multiple proprietary trading firms

Some markets are not available to all regions Customer support does not operate 24/7

Read review Visit Eightcap

74-89% of retail CFD accounts lose money

4. AvaTrade. Best regulated broker for secure trading

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4

Ratings

$100

Min. deposit

From 0.13%

Fees

1,300

No. assets

Yes

Demo account

Overview

We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various crypto markets without owning the underlying assets. AvaTrade is a multi asset brokerage firm and includes CFDs on many of the biggest cryptos including Bitcoin, Ethereum, Dogecoin, and more. 

AvaTrade is also highly regarded for its strong regulatory framework and commitment to security. AvaTrade is regulated in multiple jurisdictions, including Europe, Australia, Japan, South Africa, and the British Virgin Islands, which means it must adhere to stringent regulatory standards across the world. 

AvaTrade isn’t just well regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology. 

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Crypto spreads start from 0.13%. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £/€/$50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

No. of tradable assets	1250+
Min. Deposit	$100
ID verification required	Yes
Free demo account	Yes
Supported assets	Stocks, Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Commodity CFDs, Index CFDs
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSCA, FSA, ASIC, CBI, MiFID, CySEC, BVIFSC, FRSA

Fees & Costs

Trading fees	No
Inactivity fees	Yes
Rollover/overnight fees	Yes
Withdrawal fees	No
Spreads	Yes
Conversion fees	No

Pros & Cons

Trade 1000+ CFDs with competitive spreads Regulated by Tier 1 financial bodies across the world Consistently highly rated trading platform on web and mobile Offers social trading through its proprietary AvaSocial platform

Spreads are competitive without being industry-leading Some assets are only available to trade through the MetaTrader software

Read review Visit AvaTrade

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.

5. Pacific Union. Best for social trading & customer support

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4

Ratings

$-

Min. deposit

...

Fees

-

No. assets

No

Demo account

Overview

We love Pacific Union because its beginner friendly platform comes loaded with lots of educational content, including how to guides and video learning. Pacific Union offers over 200 stock CFDs for some of the world’s biggest companies.  

It’s an award-winning broker and has a proprietary social trading application that makes it easy for beginners to follow the strategies and positions of the platform’s top traders. Pacific Union uses the popular Metatrader 4 software alongside its mobile and web based apps. Traders can choose the amount of leverage they want to use, all the way up to 500:1.

The fees: Commission starting at 0.1 points is charged on select stock CFDs across all account types. Spread starts at 0.5 points and applies to all stocks. Swap charges for holding a trade overnight vary depending on size.  

Highlights

No. of tradable assets
Min. Deposit
ID verification required	No
Free demo account	No
Supported assets
Mobile trading app	No
Web trading platform	No
Regulatory bodies

Pros & Cons

70+ forex pairs and 200+ financial assets available to trade Extremely low minimum trade sizes Multilingual support in 18+ languages

Minimum withdrawal of $100 Fewer assets than many competitors

Read review Visit

Contracts for Difference (CFDs) trading carries a high level of risk to your capital and can result in losses, you should only trade with money you can afford to lose. CFDs trading may not be suitable for all investors, please ensure that you fully understand the risks involved and take appropriate measures to manage it.

More about the best forex trading platforms in NZ

Is forex trading legal in New Zealand?

Yes, forex is completely legal for residents of New Zealand. The forex market in New Zealand is regulated by the Financial Markets Authority (FMA), the government entity responsible for overseeing all financial market activities in the country.

The FMA requires any forex broker offering services to New Zealand traders to register with the regulator and hold a derivatives issuer licence. 

All licensed forex brokers are listed on the Financial Service Providers Register (FSPR) and given an FSP number. This regulation provides oversight and helps ensure the best forex brokers meet certain financial standards.

By trading with an FMA regulated forex broker, New Zealand residents can have confidence they are dealing with a reputable, compliant company and are protected should issues arise. 

The FMA promotes fair and efficient financial markets and provides regulatory protections for New Zealand forex traders.

Are forex brokers regulated in New Zealand?

Yes, regulation is mandatory for any forex broker wanting to offer trading services in New Zealand legally. The Financial Markets Authority (FMA) oversees the regulation of retail forex in New Zealand.

Under the Financial Markets Conduct Act 2013, any company or entity wanting to provide financial services or products to retail clients in New Zealand must register on the Financial Service Providers Register (FSPR). New Zealand forex brokers are classified as derivatives issuers and must apply for this licence from the FMA.

The licence application process is comprehensive to ensure forex brokers are properly capitalised, follow all compliance procedures, and have sufficient risk management controls. FMA regulated forex brokers must also participate in an approved dispute resolution scheme.

Some of the most well known international forex brokers regulated in New Zealand include CMC Markets and Pepperstone. Using an FMA regulated forex broker is strongly advised for all New Zealand residents wanting to trade forex or CFDs.

Here are the regulatory licences for the top forex brokers in New Zealand:

How do I check if a broker is regulated?

It is simple for New Zealand traders to verify if a forex broker is properly licensed and regulated by the FMA. The regulator provides two public registers that can be searched – the FSPR and the list of approved derivatives issuers.

Traders can search for a broker’s name or FSP number on the FSPR. All registered companies have a unique FSP number. For forex brokers, traders can also cross check the derivatives issuers list. FMA regulated forex brokers will appear on both lists.

Checking regulation is an important first step when evaluating the best forex brokers to trade with. All FMA regulated brokers undergo stringent vetting. Using an unregulated offshore broker comes with substantial risk, so New Zealand traders should avoid them entirely.

Do I have to pay tax on forex profits in NZ?

Yes, any profits generated from forex trading in New Zealand are considered taxable income. Even part-time retail forex traders must pay taxes on profits earned from trading currencies, CFDs, cryptocurrency and other instruments.

The income tax rate on forex trading profits varies based on the trader’s total earnings and income tax bracket. Losses from unprofitable trades can be used to offset other income. Consult a professional tax advisor to properly account for forex profits and losses in your annual tax return.

Also be aware that forex brokers operating in New Zealand must comply with all relevant tax laws. Brokers must collect and report any tax information related to client trading accounts and income to Inland Revenue. 

So taxes cannot be avoided by trading with an offshore broker as the New Zealand tax authority will still have access to your financial data.

Can I use MT4 trading platforms in New Zealand?

Yes, the popular third-party trading platform MetaTrader4 (MT4) is available for New Zealand forex traders to use through most top regulated brokers. IG Markets , CMC Markets and Pepperstone all offer MT4 alongside their own proprietary platforms.

MT4 is favoured by active forex traders for its advanced charting capabilities, technical indicators, Expert Advisors (EA) automation and copy trading features. Depending on the account type, brokers will sometimes restrict access to MT4, so traders should check when opening an account.

New Zealand residents have access to all the leading trading platforms like MT4 that are used globally. Opening an account with a well-regulated local or international forex broker will allow traders to choose platforms to suit their requirements.

Is copy trading available?

Yes, copy trading allows forex traders to copy positions opened by other successful traders automatically. This can be a useful tool for new forex traders in New Zealand who lack trading experience.

Popular FMA regulated brokers like Pepperstone offer copy trading capabilities on their trading platforms. This gives New Zealand traders access to potential signals from experienced traders globally.

What trading instruments can I trade in New Zealand?

FMA regulated brokers offer New Zealand traders access to trade:

• Major, minor and exotic currency pairs like EUR/USD and USD/JPY
• Commodity CFDs, including gold, silver, oil
• Index CFDs tracking NZ, UK, EU, US and Asian stocks
• Cryptocurrency CFDs on Bitcoin, Ethereum, Litecoin
• Shares CFDs on international companies like Facebook, Google, Apple

Brokers like IG Markets offer an extensive range of trading instruments, including forex, shares, commodities, indices and cryptocurrencies. This diversity caters to active traders in New Zealand.

Here are the available markets on some of New Zealand’s best forex brokers:

What currency pairs can I trade in NZ?

New Zealand forex traders have access to a wide range of currency pairs to trade including:

• Major pairs. EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF
• Minor pairs. EUR/GBP, EUR/CHF, GBP/JPY, AUD/JPY, AUD/NZD
• Exotics. USD/NOK, USD/TRY, USD/ZAR, USD/MXN, USD/HKD
• NZD crosses. NZD/USD, NZD/JPY, NZD/CHF, NZD/CAD

Brokers like Plus500 and Pepperstone offer 60+ currency pairs. Having access to majors, minors and exotics allows for greater trading opportunities.

The NZD crosses with the New Zealand Dollar provide excellent trading when local economic events and news impact the NZD price. NZ traders can trade all the major forex currency pairs and crosses.

What time can I trade forex in New Zealand?

The decentralised global forex market consists of three major trading sessions based on geographical location:

• Sydney/Asia session. Available 12am – 8am NZ time
• London session. Available 8pm – 4am NZ time
• New York session. Available 12pm – 8pm NZ time

This means the forex market opens on Sunday evening and closes on Friday evening for NZ traders. Having 24 hour market access allows trading opportunities at any time.

Key forex trading centres connected to New Zealand brokers include London, New York, Sydney, Tokyo and Hong Kong. Top tier brokers offer direct access to interbank liquidity and true ECN pricing. This provides optimal market access for New Zealand forex traders.

Can I trade other assets with a forex broker in New Zealand?

You can, though it depends on the type of broker you choose. The best NZ CFD brokers usually offer other financial markets in addition to currency pairs. If you want to trade other assets, such as stocks or cryptocurrency, then you need either the best trading platforms in NZ or the best crypto exchange in NZ.

How to choose a forex broker in New Zealand

How we chose the best New Zealand forex brokers

Our expert reviews panel is made up of currency traders with years of experience in the forex markets. It includes our Data Analyst, Dan Ashmore, Senior Editor of News, Jayson Derrick, and long-time forex trader, Prash Raval. The panel includes an independent fact checker, Richard Stutely.

Here are the 8 key criteria which the panel used to rate each platform.

• Regulation with a trusted financial institution. We only recommend the best forex brokers for beginners that are regulated in New Zealand and offer top-tier protection to their clients.
• Low minimum deposit requirements. An accessible forex trading platform in New Zealand, with a low minimum deposit, scored higher in our rankings.
• Mobile app availability. Our experts gave preference to the forex brokers in New Zealand with the best forex trading apps.
• Number of currency pairs available to trade. We expect New Zealand forex brokers to offer a comprehensive service where you can trade major, minor, and exotic currency pairs.
• Amount of leverage on offer. You need leverage to trade forex, so we looked for platforms that offered lots of leverage, within the limitations set by local Kiwi regulators.
• Tight spreads. We sought the best value for the average user. Small spreads mean a lower cost of trading.
• Lowest commissions and other fees. Our experts don’t like hidden fees and unexpected costs, so brokers with a clear fee structure performed well.
• Compatibility with trading software. Any Kiwi forex broker that offers integration with popular trading software like MetaTrader 4, MT5, or cTrader received a high rating.

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