Best Brokers in New Zealand

Your capital is at risk. Trade only with funds you can afford to lose.

Tested with a live trading account Accept traders from New Zealand

Our Top Pick in New Zealand 1 BlackBull 4.5/5 Visit

2 Plus500 4.1/5 Visit

3 IG 4.5/5 Visit

4 Axi 3.7/5 Visit

Compare BlackBull and Plus500 Details

Showing 5 of 6 matching brokers

Filters Order By ... Overall Rating Latest Trust & Regulation Banking & Accounts Assets & Markets Fees & Costs Platforms & Tools Research Education Customer Support iOS App Android App Most Clients Trustpilot Score

1. 1

   BlackBull

   4.5/5 our rating
   Available in New Zealand Not available in New Zealand NZD Account
   Rating breakdown

   Regulation & Trust 4.1

   Assets & Markets 4.0

   Fees & Costs 3.9

   Platforms & Tools 4.6

   Customer Support 4.0

   Education 4.3

   Research 4.0

   Accounts & Banking 4.3
   Visit BlackBull Read Review

   BlackBull is a New Zealand CFD broker offering over 2,180 instruments. Rebranded in 2023, it features a modern design, professional trading tools, and average execution speeds of 20ms.

   Demo Account

   ✓

   Minimum Deposit

   $0

   Minimum Trade

   0.01 Lots

   Leverage

   1:30

   Copy Trading

   ✓

   Regulator

   FMA, FSA

   Instruments

   CFDs, Stocks, Indices, Commodities, Futures, Crypto

   Platforms

   BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist

   Account Currencies

   USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD

   Automated Trading

   Expert Advisors (EAs) on MetaTrader, cBots on cTrader

   AI

   ✓

   Guaranteed Stop Loss

   ✗

2. 2

   Plus500

   4.1/5 our rating
   Available in New Zealand Not available in New Zealand
   Rating breakdown

   Regulation & Trust 4.4

   Assets & Markets 3.5

   Fees & Costs 4.0

   Platforms & Tools 3.3

   Customer Support 4.0

   Education 3.0

   Research 2.0

   Accounts & Banking 4.1
   Visit Plus500 Read Review

   CFD Service. Your capital is at risk81% of retail CFD accounts lose money.

   Plus500, founded in 2008 and based in Israel, is a leading brokerage with more than 25 million registered traders across 50+ countries. The company specializes in CFD trading, provides a user-friendly platform and mobile app, and offers competitive spreads. It does not impose commission, deposit, or withdrawal fees. Plus500 holds the trust of its traders by being licensed by well-known regulators such as FCA, ASIC, and CySEC.

   Demo Account

   ✓

   Minimum Deposit

   $100

   Minimum Trade

   Variable

   Leverage

   ✓

   Copy Trading

   ✗

   Regulator

   FCA, CySEC, EFSA, ASIC, FMA, FSCA, MAS, ISA, FSA, DFSA, SCA, JFSA, SCB, CIRO, BAPPEBTI, OJK, BI

   Instruments

   CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options, Crypto

   Platforms

   WebTrader, App

   Account Currencies

   USD, EUR, GBP, AUD, ZAR, CZK

   Automated Trading

   ✗

   AI

   ✓

   Guaranteed Stop Loss

   ✓

3. 3

   IG

   4.5/5 our rating
   Available in New Zealand Not available in New Zealand
   Rating breakdown

   Regulation & Trust 4.4

   Assets & Markets 4.5

   Fees & Costs 5.0

   Platforms & Tools 4.8

   Customer Support 4.5

   Education 4.8

   Research 4.9

   Accounts & Banking 4.0
   Visit IG Read Review

   Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. Forex trading involves risk. Losses can exceed deposits.

   Founded in 1974, IG is part of publicly traded IG Group Holdings Plc (LSE: IGG). It offers 17,000+ markets through easy-to-use platforms and investing apps. For 50 years, IG has remained an industry leader across key trading areas.

   Demo Account

   ✓

   Minimum Deposit

   $0

   Minimum Trade

   0.01 Lots

   Leverage

   1:30 (Retail), 1:250 (Pro)

   Copy Trading

   ✗

   Regulator

   CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA, CONSOB

   Instruments

   CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)

   Platforms

   Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime

   Account Currencies

   USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

   Automated Trading

   Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime

   AI

   ✓

   Guaranteed Stop Loss

   ✓

4. 4

   Axi

   3.7/5 our rating
   Available in New Zealand Not available in New Zealand
   Rating breakdown

   Regulation & Trust 3.8

   Assets & Markets 3.0

   Fees & Costs 3.8

   Platforms & Tools 3.7

   Customer Support 3.8

   Education 3.8

   Research 3.5

   Accounts & Banking 3.5
   Visit Axi Read Review

   72.4% of retail investor accounts lose money when trading CFDs with this provider

   Founded in 2007, Axi is a forex and CFD broker regulated by multiple authorities. It has enhanced its trading experience by expanding stock offerings, upgrading the Axi Academy, and launching a copy trading app.

   Demo Account

   ✓

   Minimum Deposit

   $0

   Minimum Trade

   0.01 Lots

   Leverage

   1:30

   Copy Trading

   ✓

   Regulator

   FCA, ASIC, FMA, DFSA, FSC

   Instruments

   CFDs, Forex, Stocks, Indices, Commodities, Crypto

   Platforms

   Axi Copy Trading, MT4, AutoChartist

   Account Currencies

   USD, EUR, GBP, CHF, PLN

   Automated Trading

   Expert Advisors (EAs) on MetaTrader, Myfxbook

   AI

   ✓

   Guaranteed Stop Loss

   ✗

5. 5

   CMC Markets

   4.7/5 our rating
   Available in New Zealand Not available in New Zealand NZD Account
   Rating breakdown

   Regulation & Trust 4.8

   Assets & Markets 4.7

   Fees & Costs 4.3

   Platforms & Tools 4.3

   Customer Support 4.5

   Education 4.3

   Research 4.5

   Accounts & Banking 4.5
   Visit CMC Markets Read Review

   Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading 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.

   Founded in 1989, CMC Markets is a London Stock Exchange-listed broker regulated by the FCA, ASIC, and CIRO. Over 1 million traders worldwide use its award-winning services.

   Demo Account

   ✓

   Minimum Deposit

   $0

   Minimum Trade

   0.01 Lots

   Leverage

   1:30 (Retail), 1:500 (Pro)

   Copy Trading

   ✗

   Regulator

   FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA

   Instruments

   CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting, Certificates and Warrants (Germany and Austria)

   Platforms

   Web, MT4, MT5, TradingView

   Account Currencies

   USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN

   Automated Trading

   Expert Advisors (EAs) on MetaTrader

   AI

   ✗

   Guaranteed Stop Loss

   ✓

New Zealand Trading Suitability Comparison

See how our top-rated firms stack up for traders in New Zealand:

Broker		NZD Account	FMA Authorized
		✓	✓
		✗	✓
		✗	✓
		✗	✓
		✓	✓
Broker		NZD Account	FMA Authorized

Broker Details Comparison

Broker	Demo Account	Minimum Deposit	Minimum Trade	Leverage	Assets	Platforms
	✓	$0	0.01 Lots	1:30	CFDs, Stocks, Indices, Commodities, Futures, Crypto	BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist
	✓	$100	Variable	✓	CFDs on Forex, Stocks, Indices, Commodities, ETFs, Options, Crypto	WebTrader, App
	✓	$0	0.01 Lots	1:30 (Retail), 1:250 (Pro)	CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only)	Web, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
	✓	$0	0.01 Lots	1:30	CFDs, Forex, Stocks, Indices, Commodities, Crypto	Axi Copy Trading, MT4, AutoChartist
	✓	$0	0.01 Lots	1:30 (Retail), 1:500 (Pro)	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting, Certificates and Warrants (Germany and Austria)	Web, MT4, MT5, TradingView
Broker	Demo Account	Minimum Deposit	Minimum Trade	Leverage	Assets	Platforms

How Safe Are The Best Brokers In New Zealand?

FMA authorization is an essential starting point, but we also investigated the practical protections available to Kiwi clients:

Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts
	4.1	✗	✓	✓
	4.4	✓	✓	✓
	4.4	✓	✓	✓
	3.8	✗	✓	✓
	4.8	✓	✓	✓
Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts

Mobile Trading Comparison

Mobile access is now standard for many investors in New Zealand - here’s how our top Kiwi brokers perform on smartphones:

Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App
	iOS & Android	3.7	3.7	✗
	iOS, Android & Windows	4.1	4.3	✗
	iOS & Android	4.6	4.0	✓
	iOS & Android	3.6	4.2	✗
	iOS & Android	4.1	3.7	✗
Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App

Comparison for Beginners

Compare how suitable the Best Brokers in New Zealand are for beginners.

Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating	Fractional Shares	Demo Competitions
	✓	$0	0.01 Lots	4.3	4.0	✗	✗
	✓	$100	Variable	3.0	4.0	✗	✗
	✓	$0	0.01 Lots	4.8	4.5	✗	✗
	✓	$0	0.01 Lots	3.8	3.8	✗	✓
	✓	$0	0.01 Lots	4.3	4.5	✓	✓
Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating	Fractional Shares	Demo Competitions

Comparison for Advanced Traders

Compare how suitable the Best Brokers in New Zealand are for advanced or professional traders.

Broker	Automated Trading	VPS	API	AI	Pro Account	Leverage	Low Latency	Extended Hours
	Expert Advisors (EAs) on MetaTrader, cBots on cTrader	✓	✓	✓	✗	1:30	✓	✗
	✗	✗	✗	✓	✗	✓	✗	✗
	Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime	✓	✓	✓	✓	1:30 (Retail), 1:250 (Pro)	✓	✓
	Expert Advisors (EAs) on MetaTrader, Myfxbook	✓	✓	✓	✓	1:30	✓	✗
	Expert Advisors (EAs) on MetaTrader	✓	✗	✗	✓	1:30 (Retail), 1:500 (Pro)	✓	✓
Broker	Automated Trading	VPS	API	AI	Pro Account	Leverage	Low Latency	Extended Hours

Accounts Comparison

Compare the trading accounts offered by Best Brokers in New Zealand.

Broker	Demo Account	Interest on Cash	Islamic Account	Joint Account	Managed Account	PAMM	MAM	LAMM	Pro Account
	✓	✗	✓	✗	✓	✓	✓	✗	✗
	✓	✗	✓	✗	✗	✗	✗	✗	✗
	✓	GBP: 3.75%	✗	✓	✓	✗	✗	✗	✓
	✓	✗	✓	✗	✗	✓	✓	✗	✓
	✓	✗	✓	✗	✗	✗	✗	✗	✓
Broker	Demo Account	Interest on Cash	Islamic Account	Joint Account	Managed Account	PAMM	MAM	LAMM	Pro Account

Compare The Ratings Of Our Top Trading Brokers In New Zealand

See how our recommended brokers for UK traders scored across the core areas in our hands-on testing:

Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support
	4.1	4.6	4.0	3.7	3.9	4.3	4.0	4.3	4.0
	4.4	3.3	3.5	4.2	4.0	4.1	2.0	3.0	4.0
	4.4	4.8	4.5	4.3	5.0	4.0	4.9	4.8	4.5
	3.8	3.7	3.0	3.9	3.8	3.5	3.5	3.8	3.8
	4.8	4.3	4.7	3.9	4.3	4.5	4.5	4.3	4.5
Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support

Fee and Cost Comparison

Compare the cost of trading with the Best Brokers in New Zealand.

Broker	Cost Rating	Fixed Spreads	Inactivity Fee	CFD Stocks Spread	EUR/USD Spread	Crypto Spread
	3.9	✗	$0	No mark-up	0.16	12 average (Bitcoin)
	4.0	✗	$10	1.28 (Apple)	0.6	Variable
	5.0	✗	$12	0.02	0.86	Variable
	3.8	✗	$10	0.07	0.2	From 0.0
	4.3	✗	$15	0.02	0.7	From 1.3
Broker	Cost Rating	Fixed Spreads	Inactivity Fee	CFD Stocks Spread	EUR/USD Spread	Crypto Spread

Customer Ratings

Compare how customers of these brokers feel about them, with real user ratings from Trustpilot, the Apple App Store and Google Play.

Broker	Customers	Trustpilot Score	Trustpilot Reviews	Android App Rating	iOS App Rating
	✗	4.7	3,521	3.7	3.7
	33,000,000	4.2	20,254	4.3	4.1
	753,000	3.7	10,317	4.0	4.6
	60,000	4.1	8,260	4.2	3.6
	300,000	4.3	3,569	3.7	4.1
Broker	Customers	Trustpilot Score	Trustpilot Reviews	Android App Rating	iOS App Rating

Broker Popularity

Many traders in New Zealand prefer brokers with a large customer base and brand presence. Here’s how our top providers compare:

Broker	Popularity
Plus500	33,000,000
IG	753,000
CMC Markets	300,000
Axi	60,000

Why Trade With BlackBull?

4.5/5

After upgrading its London Equinix servers to reduce trading delays, BlackBull is a strong option for stock CFD trading with ECN pricing. Its competitive spreads and commission-free USD crypto pairs also suit active crypto traders.

Pros

• BlackBull has partnered with ZuluTrade and Myfxbook, enhanced its own CopyTrader, and enabled cTrader Copy, offering a comprehensive trading experience.
• BlackBull offers fast execution under 100ms and spreads from 0.0 pips.
• With ECN-powered Standard and Prime accounts, plus Prime+ trading rebates, BlackBull supports beginners and high-volume traders.

Cons

• Despite offering 2,180+ assets, including new Asia Pacific indices, its selection is mainly stocks, with an average range of currency pairs and indices.
• Unlike most top brokers, BlackBull charges a $5 withdrawal fee, which can reduce cost-effectiveness, especially for active traders who often transfer funds.
• The Education Hub now includes webinars and tutorials, but the courses still need to better explain the broader economic factors that affect prices.

Visit BlackBull Read Review

Why Trade With Plus500?

4.1/5

Plus500 provides a streamlined experience for traders through a modern and dynamic CFD trading platform. However, its research tools are limited, it charges higher fees compared to some brokers, and its educational resources can be improved.

Pros

• The broker provides low-commission trading across various markets, reducing extra fees and attracting experienced traders.
• In 2025, Plus500 added share CFDs in quantum computing and AI, including IonQ, Rigetti, Duolingo, and Carvana.
• Plus500 offers a WebTrader platform specifically made for CFD trading. It presents a neat and straightforward interface.

Cons

• Compared to competitors like IG, Plus500's research and analysis tools are somewhat limited.
• The lack of educational resources adds a challenge for new traders, unlike top-tier brokers like eToro that offer extensive learning materials.
• Plus500 does not support MetaTrader or cTrader charting tools, which may be a drawback for advanced traders who prefer these platforms.

Visit Plus500 Read Review

CFD Service. Your capital is at risk81% of retail CFD accounts lose money.

Why Trade With IG?

4.5/5

IG offers an easy-to-use web platform, beginner education, advanced charts with TradingView, real-time data, and reliable trade execution.

Pros

• The ProRealTime charting platform is free with modest monthly trading activity.
• IG plans to add prediction markets on politics, sports, and entertainment in the UK, pending a UK gambling license. Other regions may follow.
• The IG app provides an excellent mobile trading experience with a clean design that earned it the Runner Up spot in our 'Best Trading App' award.

Cons

• IG charges a $12-$18 monthly inactivity fee after 2 years, discouraging casual investors.
• Beginners may find IG's fees confusing, as there are different charges for various trades and services, possibly resulting in unexpected costs.
• IG has stopped its swap-free account, making it less attractive to Islamic traders.

Visit IG Read Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. Forex trading involves risk. Losses can exceed deposits.

Why Trade With Axi?

3.7/5

Axi is an excellent choice for trading forex on the MetaTrader 4 platform. It offers over 70 currency pairs, the MT4 NextGen upgrade, and tight spreads from 0.2 pips with the Pro account.

Pros

• Axi's new copy trading app is intuitive, offering helpful filtering options to align strategies with individual risk preferences.
• The expanding educational resources in the Axi Academy, including free eBooks, video tutorials, and interactive quizzes, effectively support beginner traders.
• Axi launched an AI trading feature in 2026 that lets MT5 users manage accounts and set up trades through Claude, advancing agentic trading.

Cons

• Axi lags behind because it only provides MT4, while many competitors now offer MT5, cTrader, TradingView, and custom software for a smoother experience with better tools.
• Although it expanded stock CFDs in the US, UK, and EU, its selection remains smaller than firms like BlackBull, which offer thousands of equities.
• Axi's support is not available 24/7, which can inconvenience traders in different time zones or those needing help outside regular trading hours, despite performing well when used.

Visit Axi Read Review

72.4% of retail investor accounts lose money when trading CFDs with this provider

Why Trade With CMC Markets?

4.7/5

CMC Markets offers a great online platform for traders. It has advanced charting tools and a wide variety of CFDs to trade, including a large selection of currencies and customized indices. It caters to traders at all levels.

Pros

• CMC Funded launches in October 2026, offering up to a $100k simulated prop trading account for traders to demonstrate their skills on CMC’s platform, including prediction markets.
• We increased its 'Assets & Markets' rating after frequent product additions in 2025 and 2026, including extended hours trading for over 5,000 US stocks and ETFs, new share CFDs, certificates, warrants, and fractional shares in some areas.
• CMC Markets introduced an AI News feature, which uses AI to highlight and summarize market stories instead of executing trades for you. This suggests the future direction of broker research tools.

Cons

• The CMC Markets app provides full trading services, but its design and user experience are not as good as leading competitors such as eToro.
• A $15 monthly inactivity fee starts after 12 months of no activity, which might discourage casual investors.
• While the web platform has improved, it still needs more enhancements to be as user-friendly for trading as competitor software such as IG.

Visit CMC Markets Read Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading 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.

Top Rated Broker

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How We Chose The Best Brokers For Traders In New Zealand

To make our shortlist, we considered several factors:

• Brokers had to be regulated by the FMA. This was non-negotiable. We checked each broker’s status using the List of Licensed and Reporting Entities. We didn’t just relying on marketing claims on each broker’s website.
• Brokers preferably offered a NZD trading account. The ability to deposit and trade in New Zealand dollars can help reduce conversion fees and make account management smoother. We confirmed NZD availability either when we signed up for test accounts or directly with brokerages’ support teams. Note that FX charges can still apply when you trade assets priced in another currency, such as Australian equities.
• Brokers had to provide access to markets relevant to Kiwi traders. We looked for firms with products commonly traded by residents in New Zealand, such as stocks and indices on the New Zealand stock market and Australian Securities Exchange, as well as currency pairs containing the NZD. We tested platforms ourselves to verify what clients in New Zealand can access, while also looking for wider access to global markets.
• We followed our rigorous testing process. Our team evaluated each firm in 8 core categories, gathered more than 200 individual data points per brokerage, and documented the trading experience. Those results fed into an overall rating for each broker and helped determine the final rankings.

How To Choose A Broker In New Zealand

The number of New Zealanders that regularly invest is growing as people’s knowledge and understanding of financial markets grows. A sharp rise in the number of online trading platforms in recent years is also fueling this increase.

Roughly one in three people in New Zealand hold positions in the stock market, making its citizens the fifth-most active investors on the planet. But as with other regions, an explosion in financial market participation has created an unfortunate boom in the number of online fraudsters.

It’s therefore critical to know the broker you’re considering is legitimate. But that’s not all you need to check for.

Want to know the key questions to ask when selecting a brokerage? After hours of testing we’ve narrowed it down to the following four:

1. Can I Trust The Broker?

Research shows that New Zealanders lost a whopping $265 million New Zealand dollars (NZD) to scammers over a 12 month period. With the number of bad actors rising, and their methods of defrauding people becoming ever-more sophisticated, it’s critical that individuals take steps to protect themselves.

The best way is to check the broker you’re considering is licensed by the Financial Markets Authority (FMA). This is New Zealand’s chief market regulator, whose self-stated objective is to “license and supervise financial services providers, enforce standards, and provide guidance to help firms comply with the law.”

Companies that fail to maintain good business practices can be subject to strict sanctions. This also applies to entities found trading without authorization. These can include financial penalties, suspension of the trading license, and banning people and companies from operating altogether.

The FMA is effective in creating a more secure environment for financial markets to operate in, and for establishing strong safeguards for traders and investors. As a consequence, it’s been awarded Category A status under BrokerListings.com’s regulator ranking system.

Individuals can quickly and simply ascertain a broker’s regulatory status by using the New Zealand Company Office’s Financial Service Providers Register (FSPR).

The FMA, meanwhile, provides a warning list of individuals and firms investors should avoid. It also maintains a database of companies who have been offering financial services without being listed on the FSPR.

Pro tip: FMA-registered brokers must also be registered with an approved dispute resolution scheme, like the Financial Dispute Resolution Service (FDRS). This means traders have access to an independent body that can investigate complaints and award compensation where appropriate.

Top broker for trustworthiness: BlackBull has held a license with the FMA since October 2014 (Financial Services Provider (FSP) number 403326), registered under the name Black Bull Group Limited. It has a clean regulatory record in New Zealand with zero instances of rule breaches and enforcement action.

Source: FSPR

2. What Are The Trading Costs?

The amount of money a trader needs to spend may depend on the level of service they require. Want a comprehensive library of trading guides, advanced charting tools for technical analysis, or access to premium research? You may have to pay extra for that.

That said, some brokers charge higher-than-average fees even when not offering additional perks. Under FMA rules, service providers must clearly disclose all fees, charges and other costs, but there is no cap on what they can charge.

It therefore pays to shop around and to closely check a brokerage’s trading fees before signing up. Important things to consider are transaction charges, management fees, charges for depositing and withdrawing cash, and currency conversion costs.

Pro tip: Investors can avoid expensive foreign exchange charges by using a broker that offers accounts denominated in the New Zealand dollar (NZD). These accounts can also make portfolio management and analysis simpler.

Top broker for trading costs: Axi’s standard accounts offer zero trading commissions, no deposit fees, and free withdrawals above NZD$80.

The broker has compensated for this by raising its bid (buy) and ask (sell) spreads. These are the difference between the price a trading platform is willing to buy a security for and the price it’s happy to sell it for. However, Axi’s spreads are still narrower than many other service providers offering the same no-trading-fee models.

Pro tip: Most brokers accept a variety of payment methods from customers, including bank transfer and credit card payment. The passage of the Customer and Product Data Act 2025 – which lets individuals securely share bank data and authorize third-party payments – could open up new payment routes for traders to deposit cash going forwards.

3. What Securities Can I Buy And Sell?

Share investors often trade securities on the New Zealand Exchange (NZX), and especially those on the NZX Main Board, home to the country’s largest companies. Traders can also deal in small-cap growth shares on this central board, along with exchange-traded funds (ETFs), bonds, and derivatives (like futures contracts).

Forex trading is also extremely popular, with local investors pitting the NZD against other major and minor currencies. The NZD/USD cross, which matches the ‘Kiwi’ against the US dollar, is especially popular.

Pro tip: The NZD is a popular currency with traders across the globe, though trading it through pairings that don’t involve widely used currencies such as the USD, EUR (euro), JPY (Japanese yen) and GBP (British pound) may be difficult due to availability and more expensive with slower execution due to liquidity challenges. Availability issues can also be experienced with trading small-cap stocks on the NZX.

Want to buy shares in New Zealand Rural Land Company, for instance, which invests in agricultural and forestry land? Limited liquidity means not all brokers may offer this smaller company’s stock.

The same restrictions impact assets on overseas exchanges. However, traders in New Zealand should often be able to buy and sell other large-cap equities on major trading venues like the Australian Securities Exchange and New York Stock Exchange, as these are widely supported by brokerages.

Top broker for range of securities: CMC Markets offers an enormous range of securities – for instance, more than 12,000 contracts for difference (CFDs) are available across markets including forex, stocks, commodities and cryptocurrencies. There are also more than 300 currency pairings available to trade, including over 30 NZD currency pairs. The CMC NDZ index is also provided.

CMC Markets Platform

4. Does The Trading Platform Meet My Needs?

The quality of the trading platform and its functionality can differ significantly among brokerages (we know we’ve spent thousands of hours testing trading platforms and apps). If factors like advanced charting tools, news feeds, investing guides and advanced market orders (like a market-to-limit instruction) are important to you, think about how much extra you’d be prepared to pay for them.

Some other things are non-negotiables, however, like fast execution speeds if you’re a short-term trader, a stable platform during busy periods, strong security features (like two-factor authentication during sign in) and on-hand customer service.

Pro tip: Think about taking the broker for a ‘test drive’ by opening a demo investing account. This way, you can assess a number of different platforms without having to make multiple cash deposits.

Top broker for trading platform: IG offers a quick, intuitive and highly customizable proprietary desktop platform. It offers free trading courses for both new and experienced investors, advanced market instructions, trader alerts, and customer service support 24/7 from Saturday morning to late Friday evening.

IG is also great when it comes to offering a flexible trading experience. It’s possible to trade on the go with a dedicated mobile app. Customers can also plug in third-party software like ProRealTime and MetaTrader4 (MT4) to hone their trading strategy and place trades.

Bottom Line

New Zealand is home to a vibrant community of traders and investors. High financial market participation means there are many companies out there offering brokerage services, so take the time to find the best service provider for your needs.

The FMA provides strong protection against bad business practices and scammers. But as is the case in other regions, investors can still get stung and capital is ultimately at risk, so do your research before handing over any money or personal information.

FAQs

Who Regulates Brokerages In New Zealand?

Brokers must register with the Financial Markets Authority (FMA) to do business in New Zealand. The body has described its role as “promoting and facilitating fair, efficient, and transparent financial markets in New Zealand,” and will supervise firms’ conduct and enforce sanctions when it deems wrongdoing has occurred.

Can I Open An Account In New Zealand With NZD As My Base Currency?

Trading in your local currency can save you a fortune in currency conversion fees and makes portfolio management simpler. Fortunately for traders in New Zealand, a number of brokers offer trading using the NZD. Be mindful, though, that it may still be cheaper overall to use an account denominated in overseas currencies like the USD, depending on what you trade and how often.