One thing you need to remember an NZ forex, despite what you might have heard before, is that your online trading UK broker is neither your friend nor is he out to get you. Even though they make money on any trade you place and conspiracy theorists believe that brokers trade against their clients, the reality is that they want to keep you as their client because the more trades you place, the more /11/09 · Opening a forex trading account in New Zealand is a relatively simple process that can be done online in a matter of minutes. You’ll first need to provide several personal details (such as your email address, full name and postal address), then you’ll need to select an account type (such as a live account or a demo account).Once you’ve opened an account, you may also need to provide Forex trading is the buying and selling of foreign currencies. People trade in forex either to try to make a quick profit by betting on the changing value of a currency or to provide certainty about the cost of future foreign currency payments (called ‘hedging’).The risk of online foreign exchange trading is high
Foreign exchange trading | FMA
To find the best forex broker in New Zealand all six FMA regulated NZ forex brokers were compared based on forex trading platform and spreads. Other factors considered include trading speed, commissions and trading speeds.
Fact Checked. Any new or experienced forex trader that resides in NZ should only use an FMA regulated forex broker. The Financial Markets Authority have strict requirements for brokers from training requirements, segregated trading accounts to leverage caps. When determining which of the seven FMA regulated brokers are online forex trading nz for you the most important feature is the forex trading platform they offer.
This trading software directly impacts the way you trade including the functionality and charting package offered. The second factor is the trading fees which directly impact the profit a trader may make.
The two most common fees are spreads the difference between the buy and sell for a currency pair and the commissions based on trading volume. Other factors to consider is the level of customer service the broker offers and training program and lastly the range of markets offered from the stock market to trading commodities, online forex trading nz.
To summarise, the five key features to consider when choosing a forex broker are: Regulation Forex Trading Platform Trading Fees Customer Support Range of markets. This means that individuals can trade directly with liquidity markets know as straight-through-processing STP. In the case of Blackbull, liquidity providers include the Bank of America, Credit Suisse and HSBC. To help you get the best possible spreads, BlackBull has its own proprietary aggregation system designed to ensure liquidity providers are competing with each other to bring you the best spreads.
Below shows the three ECN broker accounts available for NZ forex traders. The standard account is designed for beginners with just a spread charged and no commissions. This simpler cost structure makes it easier to calculate trading costs for novice traders. With no commissions charged, the spreads are wider than other accounts, which is why experienced traders rarely choose this option.
This account is best for traders wanting the lowest spreads available to retail traders. Spreads start from 0. Which low spreads and low commissions costs this account an excellent choice for scalpers and high-volume traders. Spreads for this account start from 0. BlackBull offers the two best forex trading platforms based on popularity, MetaTrader 4 and MetaTrader 5.
Below shows that while MetaTrader 4 is the older trading software of the two, it remains the choice for forex trading vs MetaTrader 5 which is designed for CFD trading. What makes Blackbull the best MetaTrader broker is its superior infrastructure for MetaTrader 4. This includes the use of the NY4 Equinix data centre in New York to connect you with their liquidity providers.
However, to ensure you get the fastest possible execution for your trades, Blackbull can also connect you with fully functional servers in London, Japan, Hong Kong and Shanghai where the proximity may be better for your location. Other enhancements to their forex trading platform include the add-ones of ZuluTrade and Myfxbook for social trading.
BlackBull traders also have access to Virtual Private Servers VPS through VPS Trading, NYC Servers or Beeks FX. The enhances the forex trading platform execution speed to as low as 1ms.
BlackBull was founded in NZ and uses Auckland for its headquarters. This is also where their main customer support is based during business hours, which is complemented by the Malaysian office for support outside of business hours.
Key points of contact including:. Traders who make a deposit receive free education tools including videos, guides and a trading glossary. CMC Markets allows online forex trading nz CFDs across the world with FCA regulation formally FSA in the UK to ASIC regulation in Australia, online forex trading nz.
Within New Zealand they are licenced by the FMA to provide contracts for difference CFDs and countdowns across:. Below shows the spreads offered by the regulated broker on the core markets, online forex trading nz, ranging from Forex to cryptocurrencies. Spreads for most major currency pairs start from 0. Other CFDs with no commissions include indices, cryptocurrencies, hard and soft commodities and treasuries.
If you do wish to purchase share CFDs then you can choose over shares across 23 markets including NZX, ASX, NYSE, LSE. The commission will vary for each market but if you trade on the NZX the fee is 0.
Trading on the ASX will cost you 0. USD CMC offers a choice to 2 trading platforms. Next Generation is a solid alternative to MT4, it offers technical indicators and over 70 chart patterns across 12 types of charts. Perhaps online forex trading nz most interesting feature is the availability of a guaranteed stop-loss order GSLO. As CMC has its own trading platforms, it is one of few brokers that can offer this feature.
A GSLO is the same as a stop-loss order but CMC will guarantee to close out of the trade at the price you set online forex trading nz a small premium. Best of all, if you close your trade without needing to use the GSLO, then the entire GSLO cost will be refunded.
Their prosperity forex online forex trading nz is designed for desktop and mobile app. CMC Markets offers leverage on major currency pairs of up to There is a high level of risk when trading at this level, so only experienced traders with a high-risk threshold should online forex trading nz choosing the maximum leverage available, online forex trading nz.
Maximum leverage ranges for other products with of indices, for treasuries, and for commodities. You can view more leverage information on the CMC Markets review. It should be noted leverage is more limited with their FCA UK and CySec Cyprus subsidiaries in Europe. Should you start trading with CMC, it may useful to note that this broker does have an office in New Zealand not all broker do at Level 25, Queen Street, Auckland which can be useful if you desire a broker with a local presence.
IG is one of the largest retail fx broker worldwide marketing itself as an all-in-one trading solution provider. They provide stockbroking, currency and CFDs trading services across a number of forex platforms. Traders also benefit from a range of inclusive tools that come with their account include a range of risk management tools and a large education library about trading. You can find more about IG with our in-depth review here, online forex trading nz.
If you choose to do share trading, online forex trading nz, IG offers NZ traders share with market-based spreads across 12, companies and a 0. Overall, spreads and commissions vary by CFDs with some more competitive than others. CMC overall spreads and commissions were viewed as more competitive compared to IG. IG offers a large and diverse range of products for trading across over 17, markets which is great for portfolio diversity. Very few brokers can offer the range of products that IG Markets offer, online forex trading nz.
Products include:. Should you wish to sign up with IG, it may be useful to know the broker does not have an office in New Zealand. Plus has online forex trading nz own trading platform which means it can offer a range of tools not always online forex trading nz with other brokers. These include:. Plus is a global broker with regulation in South Africa FSCASingapore MAS to CySEC Cyprus. One weakness of choosing Plus is that the broker does not have an office in New Zealand, which may present issues should you want to engage with the broker in person.
Hantec Markets New Zealand is part of the Hantec Group online forex trading nz also has online forex trading nz entities for forex trading in Australia, Japan, England online forex trading nz Vanuatu, online forex trading nz.
The company has its headquarters in Hong Kong where it was founded 30 years ago and has been licenced to offer derivatives by the FMA in New Zealand since November Choosing Hantec Markets gives you access to commissions free spreads starting from 0.
The broker uses Straight Through Processing STP which means there is no dealing desk. No dealing desk ensures your orders receive the most optimal execution and pricing when you trade. Hantec offers online forex trading nz most popular forex trading platform, MetaTrader 4 for both Windows and Mac via an emulator.
This is the platform most used by online brokers worldwide and by many of the top brokers across forex markets. MetaTrader 4 MT4 is suitable for a range of trading experience forex traders with Hantec Markets offering based currency including GBP, USD and EUR.
There is also the option of a demo account to trade virtual funds before real money. The best cTrader forex broker in NZ is Jarden Securities. Jarden are specialist when trading derivatives and offer the following products for trading:. Jarden offers a choice of 4 platforms for trading and it is important you choose the right platform for trading your desired CFD. The following platforms are available. If you are looking for an alternative mainstream platform to MetaTrader online forex trading nz or MetaTrader 5 that has no cost to use, online forex trading nz, cTrader is a popular choice.
cTrader has lightning-fast execution which makes the platform popular with scalpers, high-frequency traders, copy traders and for automation. In addition to this, the platform has Depth of Market Level II pricing and a number of useful technical analysis features such as multi-charting and multiple time frames when charting. Rockfort Markets is an FMA regulated broker that offers both CFD and share trading. Two popular mainstream trading platforms are available to choose from — MetaTrader 4 and Trader Workstation.
Both software options can be used as desktop and webtrader platforms, as well as mobile trading apps for iOS and Android devices. A range of financial instruments is available to trade with Rockfort Markets as CFDs or physical assets. As well as CFDs, longer-term investment opportunities include trading shares, options, futures and ETFs as physical assets.
Rockfort Markets provide access to thousands of different stocks to trade from 14 different countries. Brokerage fees are competitive:, online forex trading nz. Overall, Rockfort Markets may be well-suited if you are looking to trade a range of CFDs alongside a selection of longer-term investments such as stocks and ETFs. To determine the best forex broker in New Zealand we compared in April the most important elements that matter for NZ traders.
These include leverage, trading platforms to customer service. This is summarised in the table below, online forex trading nz. Overall, the low spreads offered by BlackBull Markets, choice of the two leading forex trading platforms and strong trading environment including fast online forex trading nz speeds led to the broker been considered the best in New Zealand.
the best forex brokers in New Zealand - Forex Broker 2020
, time: 3:00NZ Forex Brokers: The Complete FMA Regulated List ()
/11/09 · Opening a forex trading account in New Zealand is a relatively simple process that can be done online in a matter of minutes. You’ll first need to provide several personal details (such as your email address, full name and postal address), then you’ll need to select an account type (such as a live account or a demo account).Once you’ve opened an account, you may also need to provide One thing you need to remember an NZ forex, despite what you might have heard before, is that your online trading UK broker is neither your friend nor is he out to get you. Even though they make money on any trade you place and conspiracy theorists believe that brokers trade against their clients, the reality is that they want to keep you as their client because the more trades you place, the more Trading forex (currencies) in New Zealand (NZ) is popular among residents. Before any fx broker in New Zealand can accept forex or CFD traders as clients, they must become authorised by the Financial Markets Authority (FMA), which is the financial regulatory body in New Zealand.
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