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 Forex brokers. 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.
| Broker | Minimum Deposit | Maximum Leverage | Type | Funding method |
|---|---|---|---|---|
| 3TG Brokers | $300 | 500 : 1 | ECN/STP & STP | Bank wire, credit/debit card, Skrill, Webmoney, Neteller, EgoPay, OKPAY, Paysafe |
| BelforFX | $100 | 400 : 1 | ECN/STP & STP | Bank wire, credit/debit card |
| BlackBull Markets | $100 | 400 : 1 | ECN/STP | Bank Wire, Credit Card, Debit Card, WebMoney, Skrill, Neteller, China UnionPay |
| Caesar Trade | $25 | 500 : 1 | STP | Bank Wire, Credit Card, WebMoney, Skrill, Neteller |
| Divisa Capital (DCFX) | $5000 | 100 : 1 | ECN/STP & DMA/STP | Bank wire |
| Excel Markets | $200 | 400 : 1 | DMA/STP | Bank wire, credit/debit card, Skrill |
| FX-EDGE | $100 | 100 : 1 | ECN/STP | Bank wire, credit/debit card, Skrill, Paypal, FasaPay |
| FXOpen | $1 | 500 : 1 | ECN/STP & Market maker | Bank wire, credit/debit card, Skrill, WebMoney, Neteller, RBK Money, Payza, China UnionPay, DixiPay, fasapay, QIWI, Yandex Money, Perfect Money, Bitcoin, Litecoin, SorexPay |
| FXUM | $500 | 500 : 1 | STP | Bank wire, credit card |
| FxUnited | $25 | 1000 : 1 | DMA/STP | Bank wire, WebMoney, Skrill, Perfect Money, EzyBonds |
| Golden Tangent | $500 | 400 : 1 | STP | Bank wire, debit card |
| HeartForex | $500 | 100 :1 | ECN/STP & STP | Bank wire, credit/debit card, Neteller |
| Key To Markets | $100 | 500 : 1 | ECN/STP & DMA/STP | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, Safecharge, Postepay, WebMoney, Sofort, GiroPay, Paysafe, Neosurf |
| KRC (KRCNZ and KRC Group) | $200 | 200 : 1 | ECN/STP & STP | Bank wire, credit /debit card |
| LAND-FX | $300 | 500 : 1 | ECN/STP & STP | Bank wire, credit/debit card, Webmoney, Skrill, Neteller, QIWI, GiroPay, AstroPay, China UnionPay |
| Lucror FX | $50 | 500 : 1 | STP | Bank wire, credit card, debit card, Skrill, AlertPay |
| MGC Forex | $100 | 300 : 1 | ECN/STP & STP | Bank wire, Neteller |
| Mocaz Financial Markets | $10 | 300 : 1 | STP | Bank wire, credit/debit card, Paypal, Neteller, fasapay |
| NEXUSFX | $25 | 200 : 1 | STP | Bank wire |
| NoaFX | $10 | 500 : 1 | STP | Bank Wire, Credit Card, Skrill, Neteller, FasaPay, China UnionPay, Payza |
| Pacific Financial Derivatives (PFD-NZ) | $1 | 500 : 1 | ECN/STP & STP | Bank wire, credit card/debit card, Skrill, Technocash |
| Rexor Investments | $5 | 400 : 1 | ECN/STP & STP | Bank wire, credit/debit card, Skrill, Perfect Money, Fasapay, PayCo |
| RoboForex | $1 | 1000 : 1 | ECN/STP & DMA/STP & Market maker | Credit Card, Debit Card, WebMoney, Skrill, Neteller, CashU, China UnionPay, QIWI, FasaPay, AstroPay, Paysafe, Boleto, Todito Cash, DineroMail, Euteller |
| SaudiQuote | $10,000 | 100 : 1 | ECN/STP & STP | Bank wire |
| Solforex | $50 | 400 : 1 | ECN/STP | Bank wire, credit/debit card, Webmoney, Skrill, Neteller, other e-currency |
| STONE Global Trading | $100 | - | STP | Bank wire, credit/debit card, Paypal, China UnionPay |
| Tifia | $100 | 400 : 1 | ECN/STP | Bank wire, credit/debit card, Skrill, Neteller, Perfect Money, OKPay |
| Titan FX | $200 | 500 : 1 | ECN/STP & STP | Bank wire, credit card, Skrill, Neteller |
| UpFX | $100 | 300 : 1 | DMA/STP & STP | credit/debit card |
| Velocity Trade | $1000 | 100 : 1 | DMA/STP | Bank wire, check |
| xCFD | $100 | 200 : 1 | STP | Bank wire, Credit Card, Debit Card, Skrill, Neteller, Yandex Money, Moneta, cashU, Bitcoin, China UnionPay, QIWI |
| Your Trade Choice | $1000 | - | Market maker | Bank wire, Credit Card |
| Did we miss any New Zealand Forex broker? Please suggest by adding a comment below. |
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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’ isdefined 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.
