Best Forex Brokers in New Zealand: A Comparative Guide

• XM Group - Best Order Execution (99.35% of orders are executed nearly instantly)

• RoboForex - Best Forex broker for beginners ($10 min. deposit, copy trading)

• Exness - Best raw spread account (avg. spread for major FX pairs 0.1-0.2 pips)

• VT Markets - Attractive Forex bonuses (50% welcome bonus, 20% deposit bonus)

• TeleTrade - Best for learning trading basics (a lot of educational and analytical materials)

• Pocket Option - Best for Social Trading (top rated service by customers)

At Traders Union, we evaluate Forex brokers to help traders make informed, confident decisions and avoid unreliable or unsafe options. We use a professional and detailed approach, focusing on key factors such as regulation and safety, trading costs, ease of use, platform features for all experience levels, and real trader feedback collected over 15 years.

We’ve outlined every step of our evaluation in detail on our Methodology Page. Our process is transparent, data-driven, and built on years of expertise, combined with real trader insights, ensuring you can trust our recommendations.

Our goal is to guide traders toward brokers that are safe, reliable, and suited to their needs, whether they are beginners or experienced professionals in New Zealand

Comparison of leading Forex brokers in New Zealand

The minimum deposit, EUR/USD spread, eligibility for residents of New Zealand, and the number of available currency pairs are key factors to consider when choosing a broker.

• The minimum deposit shows how affordable it is to start trading.
• The EUR/USD spread highlights trading costs—lower spreads mean you save more.
• Eligibility for residents of New Zealand ensures you can legally access the broker’s services.
• The number of currency pairs reveals the variety of trading options available.

Together, these factors help you determine if a broker is safe, cost-effective, and aligned with your trading needs.

We have analyzed the key advantages and disadvantages of the leading Forex brokers in New Zealand, as well as their overall ratings based on our proprietary methodology.

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1

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TU Overall Score 9 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.1 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	9.2 /10

Advantages Disadvantages

• XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
• No “markup” on narrow market spreads (broker's margins over the spread);
• Over 1,000 trading instruments. Available for trading are: 57 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
• No commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
• Around the clock support for 5 days a week in more than 30 languages.

• Expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.

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TU Overall Score 8.9 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	8.5 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	8 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	4.9 /10

Advantages Disadvantages

• Availability of favorable trading conditions and a minimum deposit
• Unique investment program CopyFx
• Highest affiliate payments: up to 84% of the fee paid by the referral
• Market launch - STP and ECN
• Instant withdrawal of funds
• Minimum deposit - $10

• A small number of currency pairs - 28, for accounts: Pro, Pro-Cent, ECN

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TU Overall Score 8.7 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	8.5 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	10 /10

Advantages Disadvantages

• Availability of 8 licenses and a membership in the Financial Commission providing up to EUR 20,000 insurance coverage per client in the event of a force majeure;
• Wide choice of account types — Standard, Standard Cent, Pro, Zero and Raw Spread;
• Wide range of CFDs, including over 100 currency pairs;
• Zero deposit and withdrawal fees (Depends on the payment system);
• Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.

• The broker’s website offers almost no educational materials;
• 24/7 support isn’t available in all languages.

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TU Overall Score 8.7 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.7 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	6 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	9.5 /10

Advantages Disadvantages

• Financially stable parent company and reliable custodian bank.
• Over 230 assets of different classes are available for trading.
• It allows trading using STP, ECN, and Islamic accounts.
• A wide range of investment solutions from reputable third-party platforms.
• Margin trading with leverage up to 1:500 for cryptocurrency pairs.
• Average trading commissions on ECN and precise market spreads on all account types.
• Access to making trades in desktop and mobile terminals MetaTrader 4/5, as well as in the web version of MT4.

• The high minimum deposit for novice traders is $50.
• Lack of access to micro (cent) accounts.
• The list of available assets does not include cryptocurrencies and ETFs.

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TU Overall Score 8.6 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	9.3 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	7 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	4.7 /10

Advantages Disadvantages

• detailed analytical section;
• informative training section;
• Invest Start risk-free investment service;
• interest accrual on deposit;
• copytrading service;
• several affiliate programs with high payouts.

• no PAMM accounts or other money management options;
• few withdrawal options;
• support is available 24/5;
• withdrawals delayed;
• technical support responds slowly;
• sometimes it takes a long time to verify data.

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6

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TU Overall Score 8.5 /10
User Satisfaction score Overall user experience and feedback based on ease of use, customer support, and platform reliability.	8.9 /10
Commissions and fees score Analysis of the cost structure including trading commissions, minimum fees per trade, and withdrawal fees.	8 /10
Regulation and safety score Assessment of regulatory compliance, financial security measures, and the overall safety of client funds.	4.2 /10

Advantages Disadvantages

• MetaTrader provides for trading binary options and CFDs;
• A demo mode is available for all account types;
• Active, social, and algorithmic trading is available on MT4 and MT5 accounts;
• Spreads are from 1.2 pips for Forex and no fees per lot;
• Referral program for retail clients with rewards of up to 50%-80% of the referee’s income;
• “My Safe” service that provides for crediting 10% per annum on the account balance not involved in trading;
• Cash back and promo codes for binary option traders;
• 50% deposit bonus.

• Real-time communication with operators is available upon funding the account.

Trading fees and commissions of top brokers in New Zealand

We compared both trading and non-trading fees of the top brokers in New Zealand. This comparison highlights the following:

• Trading fees:

  These include average spreads in pips for popular currency pairs like EUR/USD and GBP/USD, based on both Standard and ECN account types with floating spreads.

• Non-trading fees:

  These cover deposit and withdrawal fees (percentage-based), along with inactivity fees.

By analyzing these parameters, we aim to provide a transparent overview of the cost-effectiveness of brokers in New Zealand.

Security and regulation of top brokers in New Zealand

When choosing a Forex broker in New Zealand, regulation ensures your funds are safe. Tier-1 regulation is the most reliable, with strict rules on transparency and client protection. Tier-2 regulation is solid but less strict, offering a reasonable level of oversight. Tier-3 regulation and unregulated brokers are riskier, with minimal or no monitoring, which can put your money at risk.

The data below shows the regulatory level of brokers available in New Zealand, helping you make a safe and informed choice.

Top 3 brokers for beginners in New Zealand

This comparison highlights the best brokers in New Zealand for new traders based on the following criteria:

• Education Score: Assesses the quality of educational materials, such as tutorials and guides.
• Cent Accounts: Allow traders to start with minimal capital ($1–$10), enabling them to learn market dynamics with limited financial risk.
• Demo Accounts: Provide risk-free environments for practicing trading strategies.
• Copy Trading: Enables new traders to learn by replicating the trades of experienced traders.
• PAMM Accounts: Offer opportunities for passive investment.

These features help ensure a smooth start and effective learning experience for beginners in New Zealand.

Is Forex regulated in New Zealand?

How to choose a Forex broker in New Zealand

For beginners, it’s essential to start with a strong foundation in Forex trading basics. Focus on understanding trading psychology, how leverage impacts risk, and the importance of lot sizes and risk management strategies.

Once you’ve built your knowledge, follow these practical steps to begin trading Forex in New Zealand:

• Check regulation and security.

  Ensure the broker is regulated by a Tier-1 or Tier-2 regulatory authority or holds a valid license in New Zealand. Regulation helps guarantee fund safety and compliance with industry standards.

• Compare fees and spreads.

  Seek brokers offering low spreads, transparent fees, and competitive commission structures for New Zealand clients to minimize trading costs.

• Evaluate trading platforms.

  Choose brokers offering advanced platforms such as MT4, MT5, or TradingView for efficient trading and analysis.

• Review account types.

  Select a broker that offers account types suited to your needs, such as Cent and Demo accounts for beginners and ECN accounts for experienced traders.

• Assess deposit and withdrawal options.

  Ensure the broker provides fast, affordable, and reliable deposit and withdrawal methods in New Zealand.

• Check customer support quality.

  Choose brokers that offer responsive, multilingual support 24/7 to ensure prompt and effective issue resolution.

Expert advice for traders in New Zealand

Author, Financial Expert at Traders Union Anastasiia Chabaniuk

Updated on June 06, 2025

As I've learned over my years of trading, understanding a broker's fee structure can directly impact your profitability. Low spreads, transparent commissions, and an absence of hidden fees should be priorities. For instance, I often recommend ECN accounts for their cost-effectiveness, as they offer raw spreads with minimal charges. Additionally, non-trading fees, like deposit or withdrawal charges, can accumulate over time. Comparing these factors across brokers ensures you're not overpaying, preserving your profits in the long run.

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Team that worked on the article

Parshwa Turakhiya

Author at Traders Union

Parshwa is a content expert and finance professional possessing deep knowledge of stock and options trading, technical and fundamental analysis, and equity research. As a Chartered Accountant Finalist, Parshwa also has expertise in Forex, crypto trading, and personal taxation. His experience is showcased by a prolific body of over 100 articles on Forex, crypto, equity, and personal finance, alongside personalized advisory roles in tax consultation.

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Chinmay Soni

Developmental English Editor

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito

Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).