26 Best FMA Forex Brokers – (Reviewed) 2025

For anyone looking to trade on the Forex market in New Zealand, finding a reliable and respectable broker is a step in the right direction. A reliable and respectable broker would have a license and be regulated by a recognised body. In New Zealand it is the FMA (Financial Markets Authority). Here is a list of the 26 Best FMA Regulated Forex Brokers from which to choose a broker to suit your needs as a trader.

Before 2011 when the FMA was formed there was virtually no regulation of brokerages in New Zealand. Up to 2011 the role had fallen on the shoulders of the Securities Commission of New Zealand. Unfortunately, they struggled to enforce enough control to protect consumers.

As a result, the FMA was formed to bring an acceptable level of order and control to the financial markets. They were given powers that included issuing and revoking licences for all financial companies, regulating the business conduct, and supervising their work.

All brokers regulated by the FMA have to undergo regular audits to ensure all financial transactions are carried out according to the FMA’s rules.

The education of consumers about the financial markets is also very important to the FMA. The general public can access an excellent range of educational material online.

Those wanting to become investors are urged to be careful and make decisions based on careful research when dealing with Forex brokers and other financial entities.

Here is a list of the 26 Best FMA Regulated Forex Brokers. The list is not ranked in any particular order.

Alpari

Alpari was opened in 1996 and has offices all over the world including in New Zealand.

Alpari is licensed and regulated by the Financial Services Authority and CySEC.

Alpari boasts two million clients in 150 countries and provides advanced and beginner traders with services like advice, guidance and educational material.

Features

• Regulated by the FSC in Mauritius
• Choice between ECN and market-maker execution models
• The max leverage is high at 1000: 1
• Over 60 Forex currency pair and crosses available for trading

Pros and Cons

FXTM

FXTM was founded in 2011 and is well known among traders all over the world.

When it opened it intended to provide its clients with technologically advanced trading platforms. FXTM is appropriate for beginner and advanced traders.

FXTM is constantly striving to improve with new market inventions and exciting offers for traders.

FXTM is regulated by different watchdogs around the world and is managed by different companies in different countries. Regulation bodies FXTM has licenses with are CySEC, FSCA, FCA. FXTM is open to New Zealand traders.

Features

• 200+ instruments
• Attractive bonuses
• Trading prizes for traders
• Competitive trading conditions

Pros and Cons

FP Markets

FP Markets was established in 2005. It is an Australian brokerage company regulated by the ASIC.

FP Markets is also regulated by CySEC allowing European clients to trade freely.

The FP Markets head office is in Sydney Australia and the broker serves over 12 000 clients worldwide. It delivers access to trade 13000+ products ranging from Forex, Indices, Commodities, Metals, Bitcoin, Cryptocurrencies and Equity CFDs that are offering competitive spreads and flexible leverage throughout one account.

FP Markets is open to New Zealand traders

Features

• Offers CFD trading to international clients
• MT4 and MT5 platforms
• Direct marketing share trading via Iress trading platform
• Offers tight spreads
• Competitive leverage
• Extremely fast execution
• VPS hosting
• No dealing desk (NDD) execution model

Pros and Cons

XM Group

The XM Group is highly regulated by CySEC in Cyprus, ASIC in Australia and FCA in the UK. This provides for a safe environment to trade.

The website has fantastic customer support with all queries being answered in multiple languages 24/5.

The XM Group offers 100 financial instruments with many currency options. Their trading options include precious material, commodity, stocks, foreign currencies etc.

The XM Group is open to New Zealand traders.

Features

• Bonus system is fantastic
• 4 types of accounts
• Demo account
• Strong regulation
• Good reputation
• Efficient and fast trade execution
• Good leverage 1:30.
• No hidden commissions or fees

Pros and Cons

AvaTrade

AvaTrade was founded in 2006 and is one of the oldest online brokerages with a reputation for reliability. Their head office is in Dublin, Ireland with sales centres in Dublin, Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg.

AvaTrade is regulated by the Central Bank of Ireland, in Europe, the British Virgin Islands, ASIC (in Australia), FSA (Japan), Abu Dhabi and FSB (South Africa).

The broker offers more than 250 instruments with on a range of automated trading platforms with EA compatibility, more than 60 currency pairs, majors stock indices, cryptocurrencies, commodities, bonds, individual shares and ETFs.

AvaTrade is open to New Zealand traders.

Features

• Platforms MT4 and MT5
• AvaTradeGO app provides necessary information
• Islamic account
• 250 + instruments
• More than 60 currency pairs
• Offers competitive spreads
• Trading websites in more than 20 languages

Pros and Cons

Go Markets

Go Markets was founded in Australia in 2006 and is regulated by the Australian watchdog ASIC. Its head office is in Melbourne, Australia.

This allows for a safe trading environment. All clients’ accounts are in separate trust accounts at top rated banks.

With Go Markets traders can trade on 350+ financial CFD instruments covering Forex, Shares, Indices, Metals and Commodities.

There are 2 main account types, the standard account which is commission-free trading with spreads from 1 pip and the GoPlus Account which is commission-based with spreads from 0 pips.

Go Markets is open to New Zealand traders.

Features

• Max Leverage: 1:500
• Various deposit and withdrawal options
• Tradable assets
• Trading platforms: MT4, MT5 and webtrader
• Commission on trades
• No fixed spreads
• Mobile trading

Pros and Cons

Exness

Exness has been operating since 2008 and is a leading international CFD/Forex broker.

Exness is regulated by CySEC in Cyprus, FCA in the UK and the FSA in the Seychelles.

The broker offers traders access to more than 120 financial instruments including Crypto, Forex, Stocks and Indices.

Exness offers customer support in 13 languages and the website is available in 23 languages.

Exness is open to New Zealand traders.

Features

• Tight spreads from 0.1 pips
• Copy trading system
• No hidden commission fees
• Trading platform MT4
• Well regulated
• Segregated accounts for clients
• Investor compensation scheme
• Instant withdrawals

Pros and Cons

HotForex

HotForex is located and registered in Mauritius. It is regulated by the FSC (Financial Services Commission) making it a safe broker to trade with. HotForex is also regulated by the EU opening the broker up to clients from the European Union.

The company motto is “Honesty, Openness and Transparency” three features every trader looks for.

The broker offers excellent customer service with employees speaking multiple languages.

Only EUR and USD can be used to open an account.

HotForex is open to New Zealand traders.

Features

• Interesting bonus system
• Free trading tools
• Educational material
• Minimum deposit to start trading is $50
• Leverage: 1000:1
• Many payment methods
• Low spreads from 0.2 pips
• 40 different currency pairs
• Numerous trading instruments
• 6 account types

Pros and Cons

IG Trading

In 1974 IG Trading was established in the UK and today it is one of the biggest CFD brokers in the world.

IG Trading is regulated by the FMA in New Zealand, the FCA in the UK and by Germany’s Federal Financial Supervisory Authority (BaFin)

IG is also listed on the stock exchange in London and is a transparent broker disclosing financials.

Both beginner and advanced traders will find this broker’s trading platform user-friendly.

Negative balance protection is provided for Forex spot and CFD trading, but only for retail clients from the EU. Professional and non-EU clients are not covered.

Features

• Inactive account fee charged
• No withdrawal fee
• Low minimum deposit
• It takes up to 3 days to open an account
• Demo account available
• Trading fees on commissions, spreads, financing rates and conversion fees
• No trading fees on withdrawals or inactive accounts

Pros and Cons

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CMC Markets

CMC Markets is a supplier of online retail financial services with a large range of established offerings that enable clients to trade a broad range of financial instruments through an exclusive innovative trading platform

Several global authorities have awarded licenses to CMC Markets including the well-known strict FCA and FMA in New Zealand. The broker discloses the quality of the executions in a transparent and understandable way.

CMC Markets was founded in 1989 and by 1996 had launched a real-time Forex trading platform and in 2000 brought in CFD trading which together with spread betting formed the core of CMC Markets’ future business.

Features

• Negative balance protection
• Advanced Web and Mobile platforms
• Offers three trading account options
• Commission free trading on Spread betting account
• Primarily a CFD and Forex broker
• Production offering: CFDs, Forex and crypto assets

Pros and Cons

Plus500

Plus500 CFD platform is a very user-friendly platform but is suitable for experienced traders only. This is due to the fact that CFD’s are complex financial products to trade with.

Plus500 boasts innovative technology and is a leading supplier of CFDs. This broker delivers trading facilities on cryptocurrencies, options, and indices, shares, commodities, ETFs and Forex.

Plus500 is licensed by the FMA in New Zealand and by the ASIC in Australia.

Features

• 2000+ instruments
• Segregated accounts
• Leading provider of CFDs
• Innovative technology
• Resource tools available
• 24/7 customer support

Pros and Cons

BlackBull Markets

BlackBull Markets is registered with the Financial Services Provider Registry (FSPR) and the FMA in New Zealand. They are also members of the FSCL (Financial Services Complaints Limited) dispute resolution scheme.

BlackBull Markets is an ECN, no dealing desk broker. They provide trades access to trading in Forex, CFDs, Commodities, Fibre Optic Communications and Fintech solutions globally.

It provides traders worldwide with some of the best Forex trading technology and it offers retail clients social trading through My FXBook, PsyQuation and SwipeStox.

Features

• Leverage levels offered are high
• Spreads are competitive
• Auto Trader offers advanced copy trading options

Pros and Cons

Saxo Bank

Saxo Bank was opened in 1992. The broker is regulated by six top tier regulatory bodies namely the FCA in the UK, MAS in Singapore, FINMA in Switzerland, ASIC in Australia, FSA in Denmark and the JFSA in Japan.

Saxo Bank connects traders, investors and partners to 35000+ instruments and sets itself apart by building digital platforms to facilitate multi-asset market access. Assets include CFDs, stocks, Forex, ETFs and more.

Saxo Bank offers clients excellent prices, research tools and customer service.

Saxo Bank is open to New Zealand traders.

Features

• Impressive trading platforms
• Average leverage ratio. Maximum 1:200
• 3 account types
• Impressive product portfolio
• 9 different asset classes
• Competitive pricing on trading
• Tight variable spread
• 160+ currency pairs
• Excellent liquidity
• 41 binary and vanilla touch options

Pros and Cons

Swissquote

Swissquote was opened in 1996 and is a Swiss Investment Bank. The bank is regulated by FINMA the Swiss Financial Market Supervisory Authority and by FCA the UK’s financial authority.

The broker is listed on the Swiss stock exchange and has a banking license, providing a safe trading environment for traders.

It is considered safe by brokers because it has a banking license and is listed on the Swiss stock exchange.

Swissquote is a Swiss Forex broker and a major European bank that is known to be very reliable.

It has two main trading arms, namely a Swiss unit for trading stocks, options, funds, and futures and a company in the UK for CFDs and Forex.

In Forex they have sixty currency pairs. They also have other financial instruments like Stocks, Energies and Commodities.

Swissquote offers client support in multiple languages such as English, German, French, Spanish and Chinese and in multiple channels such as Phone, Live Chat (for using Live Chat the client has to login to the broker’s website) and Email.

Swissquote is open to New Zealand traders.

Features

• Highly regulated by FCA
• Large range of financial instruments
• Competitive spreads
• Commission free trading
• Demo Account offered
• Boasts 330,000+ traders
• Allows scalping
• Allows hedging

Pros and Cons

Interactive Brokers

Since its inception 42 years ago Interactive Brokers has a reach across 125 market destinations worldwide through its provision of online trade.

Interactive Brokers offers traders an extensive range of accounts with a variety of trading platforms and a wide range of instruments.

The educational and research tools are also excellent.

Interactive Brokers is regulated by two top tier regulatory bodies namely the FCA in the UK and ASIC in Australia.

Interactive Brokers is open to New Zealand traders.

Features

• Maximum leverage under FCA regulation – 1:30 on Forex
• Maximum leverage under ASIC regulation – 1:400 on Forex
• Offers negative balance protection
• Extensive range of accounts available
• Wide range of instruments
• Offers Options and Futures trading
• Variety of trading platforms

Pros and Cons

XTB

XTB is an online CFD, Crypto and Forex broker. Founded in 2002 it has offices in more than 10 countries with its head office in London and Warsaw.

XTB is a highly regulated broker with licenses from the FCA in the UK, the KNF or Polish Financial Supervision Authority (KNF), CySEC in Cyprus and the IFSC

As a result, XTB is considered low-risk.

XTB is listed on the Warsaw stock exchange and the broker has over 140 thousand clients across the world.

XTB is open to New Zealand traders.

Features

• 1500+ trading instruments
• Simpler trading platform MetaTrader 4
• Good broker for beginner traders
• User friendly research tools
• Good customer support
• Demo account offered
• Leverage limited to 1:30 inside the EU
• Minimum Forex and Crypto CFD trade size are 0.1 lot
• Negative balance protection for EU clients

Pros and Cons

FxPro

FxPro is licensed by the FCA in the UK, CySEC in Cyprus and the FSCA or Financial Sector Conduct Authority. The broker specialises in online trading and offers CFDs (Contracts for Difference) for shares, spot indices, Forex futures, spot energies and spot metals.

The company’s capital exceeds 1 million pounds. It’s execution time for trades is extremely fast

FxPro is regulated by The Financial Conduct Authority (FCA), The Cyprus Securities and Exchange Commission (CySEC) and The Financial Sector Conduct Authority (FSCA)

FxPro is open to New Zealand traders.

Features

• Best known for MetaTrader and cTrader platform offering
• Extremely fast trade execution with no dealing desk intervention
• Research and development investment
• A vast variety of account types
• Free demo account
• Fixed spread available
• VIP services
• Micro accounts available

Pros and Cons

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HYCM

HYCM based in the UK has a license from the very strict FCA regulatory body.

HYCM offers a wide range of instruments from stocks to currencies and commodities.

They are also a good platform for advanced and beginner traders as they have educational material for all traders to improve their knowledge.

HYCM offers state-of-the art technology with 100+ financial instruments with which to trade

HYCM is open to New Zealand traders.

Features

• Client funds kept in segregated accounts
• FSCS Compensation of up to 50 000 pounds
• Mobile trading
• 120+ tradeable assets
• Leverage can be as high as 200:1

Pros and Cons

Tickmill

Tickmill is a global Forex and CFD broker offering low costs. The broker was opened in 2014.

It is a safe broker to trade with due to it being regulated by the FCA in the UK, CySEC in Cyprus and FSA in

To open an account is fast and simple and there are a lot of free deposit and withdrawal options.

Tickmill is a suitable broker for clients who are interested in CFD and Forex trading and who prefer to trade on the MetaTrader platforms.

Tickmill is open to New Zealand traders

Features

• A number of excellent trading tools
• Trade 80+ spreads as low as 0.0 pips
• Educational resources are good
• Trading instruments: Forex, Stocks, Indices and Oil, Precious Metals and Bonds
• Competitive commission-based pricing for professionals
• 4 types of accounts
• Demo account available
• Islamic account available
• 2 platforms: MetaTrader 4 and WebTrader

Pros and Cons

easyMarkets

easyMarkets founded in 2001, introduced CFD trading in 2016 and can boast outstanding operational statistics. The company is also a multi award winning broker.

easyMarkets has a license with the CySEC, and as a result is also MiFID II compliant. All client funds are segregated in separate accounts with a top tier bank. In the event of a problem the Investor Compensation Fund (CIF) will compensate the traders with a maximum coverage of 20 000 Euro. A guaranteed stop loss and negative balance protection are also available for clients.

easyMarkets is open to New Zealand traders.

Features

• Maximum leverage ratio of 1:400
• 3 types of accounts
• 200+ assets across 6 investment classes
• Free deposits and withdrawals
• Excellent customer support 24/5
• Educational resources available
• Dedicated research division

Pros and Cons

FP Markets

FP Markets was established in 2005 and has a license with the ASIC in Australia.

The Australian broker has also received a CySEC license that allows European clients to trade freely.

FP Markets has more than 12000 clients across the world and offers them access to more than 13000 instruments to trade with.

VPS hosting, extremely fast execution speed and a no dealing desk (NDD) execution model create ideal trading conditions for automated trading solutions.

FP Markets is open to New Zealand traders.

Features

• Offers CFD trading to international clients
• MT4 and MT5 platforms
• Direct marketing share trading via Iress trading platform
• Offers tight spreads
• Competitive leverage
• Extremely fast execution
• VPS hosting
• No dealing desk (NDD) execution model

Pros and Cons

IC Markets

IC Markets was formed to bridge the gap existing between retail and institutional clients.

The broker aims to provide a transparent trading experience backed with the best execution technology along with the provision of low spreads and liquidity unattested by other brokers.

IC Markets does not have a dealing-desk and is an ECN broker allowing traders to make use of tight spreads.

IC Markets is regulated by ASIC in Australia and the Financial Ombudsman Service (FOS) an external scheme that aids in the resolution of disputes.

IC Markets is open to New Zealand traders.

Features

• High level web security
• Maximum leverage of 1:500
• Offers three account types each with trading platform, commission fees, spreads and owners types
• Selected range of products to trade
• Low trading and non-trading fees
• Customer support
• Education for advanced and beginner traders

Pros and Cons

 

Vantage FX

Vantage FX founded in Australia in 2009 is regulated by the ASIC in Australia, the FCA in the UK and CIMA in the Cayman Islands.

The broker offers 300+ instruments to trade covering Forex ECN, Indices, Precious Metals, Energies, Soft Commodities and Shares CFDs from the US, UK, EU, Australia and Hong Kong

Vantage FX upgraded the MT4 platform labelling the upgrade SmartTrader. This platform consists of nine plugins intended to improve the trading environment.

Vantage FX is open to New Zealand traders.

Features

• Regulated by ASIC in Australia, FCA in the UK and CIMA in the Cayman Islands.
• Unique SmartTrader trading platform
• Cutting-edge-technology powers its competitive trading environment
• Negative balance protection offered
• Segregation of client funds
• Commission free trading
• 300+ instruments to trade

Pros and Cons

Moneta Markets

Moneta Markets offers traders more than 300 financial CFD instruments covering Shares, Indices, Cryptocurrencies and Commodities.

Moneta Markets is regulated by CIMA and is open to all New Zealand traders

They can trade on the custom-built Moneta Markets Web Trader platform and from the Moneta Markets AppTrader for mobile.

The broker has a wide range of research and education tools as well as customer support 24/5.

Features

• Maximum leverage: 1:500
• Tradable assets: Currencies, Commodities, Indices, Crypto, Futures
• Trading platforms: Proprietary
• STP Trading Desk
• No fixed spreads
• No commissions on trades
• Demo account available

Pros and Cons

OctaFX

OctaFx is an (STP) ECN Forex broker which offers both the MetaTrader and cTrader platforms from where you can access all major currency pairs and commodities with a leverage of 1:500.

When first opening OctaFx focused primarily on the Asian market. They have grown significantly since then and are now operating in over 100 countries across the world.

OctaFx is open to New Zealand traders.

Features

• Over 300,000+ traders worldwide
• More than 30 FX pairs to trade
• Extensive research and educational resources
• First time deposit match of 50%
• Unlimited demo account
• Spread offerings among the most competitive in the Forex industry.
• Great advanced technology

Pros and Cons

FXCM

FXCM was opened in 1999 in the UK. It boasts thousands of traders offering them impressive trading platforms and beneficial offerings.

It has licenses from four different countries reassuring that the broker is reputable.

FXCM focuses on traders wanting to start out. Beginner traders can take advantage of the resource tools and education offered.

FXCM is open to New Zealand traders.

Features

• 70+ trading instruments
• 5 top-tier licenses
• Extensive research tools
• Competitive spreads
• Profitable leverage ratios
• Minimum initial deposit
• VIP or active trader discounts

Pros and Cons

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Conclusion

Choosing an FMA-regulated Forex broker is a wise and important choice for anyone living in New Zealand. It will ensure a safe and stable operating environment when choosing one of these 27 Best FMA Regulated Forex Brokers. Forex trading is a risky form of investment and as a result employing a regulated broker to assist in the decision making will ensure a safer path to success.