New Zealand Forex brokers

Forex Regulation in New Zealand

In New Zealand, there are 3 well known institutions: FSPR, FSCL and FMA, but neither of them acts as a regulatory body for New Zealand brokers in the FX market.

Although brokers are required to follow a simple registration procedure in order to provide financial services, it’s fair to say that Forex trading in New Zealand so far is not fully supervised by any regulatory institution.

Financial Service Providers Register (FSPR) – is a government business registry, where entities providing financial services are required to register. All NZ Forex brokers are registered with FSPR.

New Zealand Forex brokers list:

Rank
Broker
Special Offer
Min Deposit
Spreads From
Rating
Max Leverage
Regulations
Support
Start Trading
1
No commissions
$50
0.8 PIPs
30:1
CIMA, NFA, CFTC, FCA, IIROC, ASIC, FFA Japan, MAS, SFC of Hong Kong
Forex trading involves significant risk of loss and is not suitable for all investors.
1
Spreads From 0.8 PIPs
Max Leverage 30:1
Min Deposit $50
Register now
2
Lifetime demo account
$250
0.1 PIPs
30:1
CFTC
2
Spreads From 0.1 PIPs
Max Leverage 30:1
Min Deposit $250
Register now
3
Same Day withdrawals
$10
1.2 PIPs
500:1
3
Spreads From 1.2 PIPs
Max Leverage 500:1
Min Deposit $10
Register now
4
EUR/USD from 0.5 pips
$200
0.5 PIPs
30:1
CySEC, FCA
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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.
4
Spreads From 0.5 PIPs
Max Leverage 30:1
Min Deposit $200
Register now

More on New Zealand regulation

An official reply from FMA New Zealand suggests that Forex brokers in New Zealand are “generally subject to relatively limited regulation”, where only registration with FSPR, FSCL is required:

Below is the official reply from FMA:

“All foreign exchange dealers that have a place of business in New Zealand must be registered as a financial service provider. As a precondition to registration, financial service providers are required to be members of an approved dispute resolution scheme. More information on registration is available at www.fspr.govt.nz.

Some foreign exchange dealers may be subject to additional regulatory requirements depending on the activities they undertake.

Providing foreign currency exchange services, and associated money remittance services, generally would not require any licence or authorisation (other than registration as a financial service provider) if this is the dealer’s sole activity. These activities are generally subject to relatively limited regulation.

However, foreign exchange dealers who offer foreign exchange futures contracts must be authorised by FMA to deal in futures contracts. ‘Futures contracts’ is defined in the Securities Markets Act 1988, and includes some cash settled derivative products which may not be considered futures contracts for other purposes. It generally includes contracts for difference over foreign exchange pairs and margin foreign exchange products, swaps, or cash settled forward contracts. Authorisations of futures dealers are published in the New Zealand Gazette (www.gazette.govt.nz) and an authorised dealer should be able to provide you proof of its authorisation. However, authorisations are not currently noted on the financial services providers register or published on our website.

Foreign exchange dealers who also provide other financial products or financial services may, depending on what other products or services they provide, be regulated in respect of those other products or services.

We hope this is of assistance.”

Another official reply from FSPR:

“The primary regulator for Brokers would be the Financial Markets Authority.

You can view their contact details and more information about them by clicking here.

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