Stock trading has been there for a long time and now other trading technologies are taking over. According to ecattrade the forex market is around 27x bigger than the whole stock market. It means that going for forex trading might be your way towards earning the living that you always wanted. However, things are always not that simple.
Complexities start with the selection of trading platforms. Different trading platforms and brokers are operating around the world. All of them do not have the licenses to operate in all parts of the world. So, when you are looking for forex brokers in your country you must for those who hold the licenses to operate in your world.
Here we will be discussing the best licensed forex brokers in New Zealand and why you should go for them.
Best Licensed Forex Brokers NZ
Why should you go for Licensed Forex Brokers in New Zealand?
Going for licensed brokers means that you are selecting a broker that is compliant with the regulations of your country. In New Zealand the FMA regulations are necessary.
It is because when a broker gets acceptance by the financial markets authority in New Zealand the government agency takes the responsibility for all the financial regulations in this way the security and reliability increase a lot. Moreover, the broker gets the opportunity to provide a lot more features and services to the people of that country.
Top Licensed Forex Brokers in New Zealand Reviewed
If you are looking for the best licensed forex brokers in New Zealand, then the following are the options that you can go for.
IG is not on the top of all the best licensed forex brokers in New Zealand, it is also the largest forex broker in the world. Being huge allows IG to provide its users with services and features apart from forex trading only.
So, by including all of the trading options and features it becomes the best one-stop trading option for its users. It comes with commission-free spreads makes it a very attractive option for the people of New Zealand. Additionally, some other unique tools and features help in getting information, education, and managing risk making it an even better choice.
2. CMC Markets
CMC Markets has a long history of being an amazing CFD trading platform in the world. However, it comes as one of the best licensed forex brokers in New Zealand. Here it provides the following options to trade apart from Forex alone:
- Treasuries and more
With the option to trade with even more than 300 currency pairs and having attractive spreads it makes its services very attractive. The thing that makes it even better is that there are no commissions for some trading options. Moreover, CMC provides an MT4 trading platform that brings additional reliability for traders and investors.
TMGM also known as TradeMax Global Markets comes under FMA regulations and it is very well known for its trading experience in New Zealand. The best part about it is that it comes with features and services for everyone. For example, there are commission-free and commissioned pricing options with the help of different accounts.
This makes it possible for anyone to start trading with TMGM. In terms of its platform options, you get MT4 with MT5 and IRESS making things extremely simple for NZ traders. What’s even better is that there are ultra-tight spreads meaning that the trader gets to keep most of the profit. On top of all of this, the quick execution for trades makes it an excellent option in the world and New Zealand.
BlackBull Markets is an STP forex trading option meaning that you can directly trade with the markets. With its proprietary aggregation system, it provides the best spreads possible making things very competitive in New Zealand. BlackBull comes with 3 different account options which are:
- ECN Instructional
With all these accounts having different trading options you can get MT5 or MT4 trading platforms according to your preference. Lastly, the customer support here is amazing whether you are from NZ or any other part of the world. Providing a toll-free number in New Zealand with lice chat and physical office support ensures your best experience.
Plus500 is another major name in the forex trading world, and it is known for the value it brings to its users. In New Zealand, it comes under FMA regulations and provides trading options on 6 categories along with Forex alone. With its proprietary platform, it provides a ton of tools and features including:
- Negative balance protection
- Stop-limit feature
- Trailing-stop loss and many others
It guarantees that even if its Negative balance protection fails then Plus500 will itself cover the loss for you.
HFTrading is yet another amazing forex trading platform that provides regulated services in New Zealand. Although it is not that popular around the globe its services in NZ are up to the mark. With the MT4 trading platform, it provides more than 300 CFD including forex.
It also provides different trading accounts with different spread percentages. The amazing thing is that all of these accounts provide a commission-free trading opportunity which makes it very attractive for the locals.
7. Rockfort Markets
The last one that we will be discussing here comes with cTrader and MT4 trading platforms. In this way it allows traders to easily access a wide range of markets around the globe. The best thing here is that it comes for both iOS and Android devices. So, if you like to trade on the go it will be the best platform to go for.
With the Global Forex Market being 2.5 times more than the GDP of the whole world there are limitless opportunities to earn more than you wanted. All you need to do is to have the right strategy and trading plan. Apart from that, selecting the right platform is necessary. So, if you are from New Zealand, it will be your best choice to go for the licensed forex brokers in New Zealand for the best experience.