Forex brokers new zealand

New Zealand forex brokers.

A couple of years ago, New Zealand forex brokers were required to follow a simple registration procedure with the FSPR in order to provide financial services. The regulatory requirements for forex brokers and financial services providers in general used to be very loose, however after a number of signals and complaints from clients received, New Zealand’s authorities have begun cleaning up the mess. Many brokerages established their operations in the country and subsequently shut down and a number of those companies proved to be connected to offshore owners so authorities started deleting registrations and introducing some new rules.

Currently, in order to be registered as financial services providers, applicants must comply with the following:

1) The companies must be registered in in New Zealand and must have a physical office there;

2) Within the office must be employed a at least one Director (having adequate financial competence), who is a New Zealand resident;

3) All client record keeping, KYC and AML procedure must be handled from a New Zealand office (in order to facilitate on-site compliance inspections);

4) The company must comply with the business laws within the jurisdiction of New Zealand.

Furthermore, Financial Markets Conduct Act 2013 introduces licensing regime for providers offering certain types of financial services. Forex brokers, addressed as “derivatives issuers” must be regulated by the Financial Markets Authority (FMA) and must meet a set of standards for financial resources and professional indemnity insurance.

Additionally, a minimum capital requirement for forex brokers is about to be introduced in 2016. Forex brokers will be required to hold net tangible assets amounting to at least $1,000,000. in order to see “the big picture”, the minimum capital requirement for a obtaining a forex broker license is $20 million in USA; CHF 20 million in Switzerland, EUR 1 million in Cyprus and 730 000 EUR in UK.

New Zealand forex brokers.

Related News.

Forex broker Fullerton Markets gets warning from New Zealand’s FMA.

Fullerton Markets, a New Zealand forex broker regulated by the local Financial Markets Authority (FMA) got a formal warning from the supervisor under the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). Read more.

New Zealand’s FMA: ICOs, cryptocurrency exchanges must be regulated.

New Zealand’s financial markets and services regulator, the Financial Markets Authority (FMA), has come out with a formal commentary on the hot topic of cryptocurrencies and Initial Coin Offerings (ICOs), noting that they are risky and must be regulated. Read more.

Number of complaints against forex platforms in New Zealand drops.

The number of complaints against forex trading platforms, i. e. forex brokers, has dropped in 2016-2017, shows the annual report of the New Zealand’s Financial Dispute Resolution Service (FDRS). Read more.

New Zealand's FMA warns of Chinese forex broker VHTrade.

New Zealand's Financial Markets Authority (FMA) has warned against the Chinese forex and binary options broker VHTrade. The regulator says it is concerned that Vhtrade International Financial Group claims to be registered on the FSPR when they are not. Read more.

New Zealand's FMA warns of binary options broker Stern Options.

New Zealand's Financial Markets Authority (FMA) has issued a warning against the binary options broker Stern Options. “The FMA recommends exercising caution before dealing with Stern Options”, the regulator said in a notice dated July 11. Read more.

Forex Industry News.

Latest forex brokers.

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Forex Brokers in New Zealand.

New Zealand, “the land of the long white cloud”, is a pristine natural paradise, far from the “madding crowd” of international commerce, but such is not the true reality of this country’s economy. While their “cousin” to the north, Australia, is known for its exports of minerals from under the ground, New Zealand has focused on what grows out of the ground and what lives off of it. The “Kiwi” Dollar is a “commodity” currency, driven by agricultural exports, and if you have never savored New Zealand lamb, then you have never truly enjoyed this alternative to beef and chicken.

New Zealand and Australia have both benefited by the enormous growth in the emerging economies of Asia. As burgeoning middle classes have increased their respective disposable incomes, their desire to eat better food has raised demand dynamics in favor of Kiwi exports. The New Zealand Dollar has appreciated, as a result, to higher levels than most analysts would have ever forecasted, and the desire of local investors to parlay these positive trends into investment gains has driven many to choose forex trading as an appropriate venue for this strategy.

- Social Trading Platform.

- 24/5 Customer Support.

- 50% FTD Bonus! (non EU Traders only)

- Active since 2001.

- 300+ markets can be traded.

- Multi Asset Trading Platform.

- No Time Frame for Demo Accounts.

- Very well regulated.

- Up to 1:500 leverage with micro-lots (0.01 size) available for everyone.

- Scalping, hedging, trading on the news, and EAs are permitted.

- Social Trading Features.

- Available in 25 languages.

- 24/5 Customer support.

- Active 10+ years.

- 40% New Member Bonus.

- Very well regulated.

- Forex Pais and CFD Trading.

- Cash back loyalty bonus. Earn up to £1.80 cash back per lot.

- Tight Spreads as low as 1.2 pips.

Choosing a forex broker in New Zealand, however, requires more due diligence than in most other countries. Being cut off from most of the world has meant that New Zealand is “late to join the party”. While currency trading has gained worldwide popularity as one more lucrative option to pursue, New Zealanders are in their initial phases of industry development, fraught with many of the same issues that other markets had to deal with in the early going, namely outrageous marketing claims and outright fraudulent activities from the criminal elements of society. Where there is money and a lack of experience, fraudsters will congregate until driven out by authorities.

Activities are not totally unregulated, but at this stage of development, many believe that investor protection is pretty thin. Brokers must comply with standard anti-money laundering laws, and they must obtain licenses from the New Zealand Securities Commission, the financial oversight authority in the country that has established a framework of rules related to commodities and futures trading. Currency trading, however, is already big business, and the rules setting bodies are just now addressing this new genre. In other words, conditions resemble the “Wild West” where participants must protect themselves with more due diligence when choosing a forex broker.

In many cases, traders defer to high quality brokers that have been in Australia for some time. Many of these have also set up shop in New Zealand, but many of the shadier variety have also rushed to the scene in search of easy commissions and investor deposits. Safety and security should be your primary concern in your selection process. Check credentials, seek recommendations from veteran traders, and read reviews that are truly independent. After satisfying these requirements, one can look more to software features, execution times, “slippage”, and fees for points of separation between competing firms.

To summarize, choosing a forex broker can be a daunting task, but do not shortcut this process, or you may live to regret it. Go to seminars and workshops to gain invaluable knowledge and seek out “mentors” in the industry. Choose a broker that meets all of your tests, from safety and security to providing all of the features, tools, and research necessary to ensure a favorable trading experience. As traders ourselves, we know how unnerving this can be at times, and to make your job easier, we have screened and selected a choice group of regulated brokers to be featured in our forex broker list above. Check it out, and make yours a winning career!

Top 8 Forex Brokers in New Zealand - Dec. 2017.

Find the best Forex Broker for you & Start trading instantly!

RoboX – AutoTrading MirrorTrader ZuluTrade MQL5 Signal Service API Trading Crypto Weekend Trading.

Bitcoin Litecoin Ethereum Ripple Dash.

AvaTradeAct AvaTradeGo Mac Trading Meta Trader 4.

Trading Forex in New Zealand: The Local Forex Market.

New Zealand is a relatively new entrant into the retail Forex trading industry. Fortunately, it is a viable and thriving economy with huge demand for currencies. There are regulatory guidelines and frameworks in place in New Zealand which are designed to prevent financial abuse. Read More>>>

53 Forex pairs Demo Trading Account Tight spreads and leverage up to 294:1 Internationally respected trading platform.

No telephone number for support MT4 Trading not supported No US traders allowed to trade on site.

400:1 leverage Tight spreads Multiple trading platforms (AvaTrader, MT4, mobile and others) Powerful tools and resources available.

Deposit and Withdrawal information limited on the website Fewer currency pairs compared to other brokers Limited bonuses and promotions.

Massive number of markets (10,000+) Fully regulated by the FCA Demo trading account.

Limited deposit options No bonuses offered.

Top8ForexBrokers helps you compare and choose your preferred Forex Broker. We suggest keeping the following checklist in mind when making your decision:

Is the Forex Broker regulated? Account Details: Ideally, your broker should offer either a selection of account types or some element of customizability. Competitive spreads and easy deposits/withdrawals are good indicators too. Number of Currency Pairs offered: The variety of currency pairs on offer, as well as the quantity, should be considered (the more of both, the better). Availability of Customer Service. Quality of the Trading Platform: look for a platform that is easy to use, straightforward and offers a collection of technical and analytical tools to enhance your trading experience.

Australasia: New Zealand.

Below is a list of online forex brokers which are regulated or registered in New Zealand. Be aware that just because a broker is registered with the New Zealand Financial Services Providers Register (FSPR) does not necessarily indicate that the broker is licensed or regulated in New Zealand or any other country. All financial service providers in New Zealand are required to register with the FSPR. Only those brokers that are licensed with the New Zealand Financial Markets Authority (listed as a Regulatory Authority of FMA below) can actually be considered to be regulated in New Zealand. There may be other brokers who say they are headquartered in New Zealand but are not listed here because they are not registered with the FSPR. Click on the links in the left column menu for forex brokers in other countries.

(1) The icon designates multiple languages. Clicking on the icon will show or hide the additional languages available. Clicking on the broker name before the language will bring you to their site in that language.

(2) When possible, clicking on the Regulatory Authority will direct you to the regulatory authority's site on either the page for that broker, a list of brokers licensed by that authority, or to a page where you can do a licensed entities search.

Forex Brokers in New Zealand.

New Zealand (FMA) Regulation News.

4 Nov 2016, Auckland, New Zealand - LeapRate - The FMA has acknowledged the announcement by Commerce and Consumer Affairs Minister Paul Goldsmith of government approval to increase FMA funding. The Government has approved an . . .

3 Oct 2016, Auckland, New Zealand - Finance Magnates - The Financial Markets Authority has granted Plus500 its fifth regulatory license. Plus500 has just announced that following last week's acquisition of a license to operate . . .

2 Jun 2016, Auckland, New Zealand - SMN Weekly - New Zealand's business ministry issued on Wednesday a notice about the removal of forex brokers Solidary Markets Nz Ltd. , Sumo Forex Ltd. , and Tigerwit Prime Ltd. together . . .

17 Mar 2016, Auckland, New Zealand - SMN Weekly - New Zealand's authorities have removed the AceForex forex broker from the Financial Service Providers Register (FSPR), shows a list published on the country's Companies . . .

18 Dec 2015, Auckland, New Zealand - NBR - The High Court in Auckland has upheld the deregistration of Pakistani-owned foreign exchange firm Excelsior Markets, agreeing that the company didn't operate in New Zealand, and if . . .

29 Sep 2015, Auckland, New Zealand - Finance Magnates - After a precedent, a number of companies are expected to file appeals against their delisting from the Financial Service Providers. The past couple of months have led to . . .

4 Jan 2017, Wellington, New Zealand - SMN Weekly - Asia-focused forex broker Fullerton Markets has fully acquired forex education provider FX1 International, finance news media Finance Magnates reported on Wednesday, citing . . .

17 Nov 2016, Hong Kong - LeapRate - New Zealand based retail forex broker Fullerton Markets has announced a white label partnership with Hong Kong based firm FG Global Enrich. With over 20,000 clients in Asia and operations . . .

17 Aug 2016, Wellington, NZ - FinanceFeeds News - New Zealand-based retail electronic trading company has formed a collaboration with financial technology provider Tradency. New Zealand-based retail electronic trading company . . .

8 Oct 2015, Kuala Lumpur, Malaysia - PRLOG - Why their Director, Michael Walker, believes they offer something new. BlackBull Markets, a leading foreign exchange (forex / FX) brokerage based in New Zealand, has recently opened . . .

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