New Zealand Financial Markets Authority (FMA) Brokers 2024

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Written By
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Written By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Edited By
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William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
Updated

Once a relatively lax regulatory jurisdiction, attracting online trading scams, New Zealand overhauled its financial regulatory framework in 2011, introducing the Financial Markets Authority, or FMA.

New Zealand’s FMA now enforces strict rules for brokers, maintains a list of more than 195 unregistered firms, takes legal action against violators – notably handing out a $900,000 fine to Tiger Brokers – and frequently issues warnings for online investors, with over 600 alerts published.

Explore the best brokers regulated by New Zealand’s FMA. We’ve personally checked every platform recommended is authorized on the FMA’s Financial Services Register.

Top New Zealand FMA Brokers

These 7 FMA-regulated trading platforms stand out as the best for day traders:

New Zealand FMA Brokers Comparison

New Zealand FMA Brokers Comparison
Broker Regulated by FMA NZD Account Minimum Deposit Markets Visit
BlackBull Markets logo
$0 Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos Visit
CMC Markets logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting Visit
Plus500 logo
- $100 CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto Visit
Axi logo
- $0 Forex, CFDs, indices, shares, commodities, cryptocurrencies Visit
RockGlobal logo
$200 CFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures Visit
TMGM logo
$100 CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex Visit
MultiBank FX logo
- $50 Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies Visit

#1 - BlackBull Markets

Why We Chose BlackBull Markets

BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView, cTrader and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.

"BlackBull Markets will suit traders of all experience levels with a growing suite of thousands of tradable instruments, tight spreads and the familiar MetaTrader platforms."

- DayTrading Review Team
  • Instruments: Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos
  • Regulator: FMA, FSA
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#2 - CMC Markets

Why We Chose CMC Markets

Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
  • Regulator: FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
  • Platforms: Web, MT4
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

#3 - Plus500

Why We Chose Plus500

Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.

"Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources."

- DayTrading Review Team
  • Instruments: CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto
  • Regulator: FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA
  • Platforms: WebTrader, App
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:30

#4 - Axi

Why We Chose Axi

Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies
  • Regulator: FCA, ASIC, DFSA, FMA
  • Platforms: MT4, AutoChartist
  • Minimum Deposit: $0
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:400

#5 - RockGlobal

Why We Chose RockGlobal

RockGlobal is a New Zealand based and regulated CFD broker. They offer competitive spreads from 0.1 pips and a large range of day trading assets, trading platforms and educational services, with up to 1:500 leverage. Operating in a Tier 1 regulated environment, RockGlobal offers peace of mind and excellent customer support.

"RockGlobal is a great option for short-term CFD traders looking for low fees. The brand will also suit longer-term investors interested in buying shares at discounted rates."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures
  • Regulator: FSP, FMA
  • Platforms: Trader Workstation (TWS), MT4
  • Minimum Deposit: $200
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#6 - TMGM

Why We Chose TMGM

TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round.

"TMGM is a great all-round choice thanks to its huge range of assets, diverse account types and platform choices, plus competitive pricing."

- DayTrading Review Team
  • Instruments: CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex
  • Regulator: ASIC, FMA, VFSC
  • Platforms: MT4, MT5, TradingView, TradingCentral
  • Minimum Deposit: $100
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:500

#7 - MultiBank FX

Why We Chose MultiBank FX

MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.

"MultiBank FX is a great option for active forex traders with 55 currency pairs, spreads from 0.0 pips and high leverage up to 1:500."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies
  • Regulator: SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC
  • Platforms: MultiBank-Plus, MT4, MT5, cTrader
  • Minimum Deposit: $50
  • Minimum Trade: 0.1 Lots
  • Leverage: 1:500

Methodology

To pinpoint the top brokers regulated in New Zealand, our experts:

  • Leveraged our directory of around 500 brokers to find those claiming to be authorized by the FMA
  • Entered their details in the FMA’s register to confirm they were licensed in New Zealand
  • Sorted them by their rating, combining 100+ quantitative entries with our qualitative findings

How Can I Check A Broker Is Regulated In New Zealand?

You can check whether a broker is regulated by the FMA by following these three steps, which we took to verify the credentials of every recommended platform:

  1. Open the FMA’s Financial Services Register
  2. Type in the broker’s name, FSP number or NZBN number (usually found in the footer of brokers’ websites) and click ‘search’
  3. Click on the returned results to check their status is listed as ‘Registered’ and to view details like ‘Registration Date’ and ‘Financial Services’

As an example, you can see I verified that BlackBull Markets is regulated by the FMA below.

FMA database showing that BlackBull Markets broker is authorized in New Zealand

New Zealand-based BlackBull continues to offer the best selection of instruments I’ve seen after years testing online brokers, with 26,000+ tradable assets on powerful charting platforms.

With execution speeds averaging less than 20 milliseconds combined with ECN pricing delivering spreads from 0.0 pips, BlackBull delivers one of the most optimal environments for day trading I’ve experienced.

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James Barra
Author

What Rules Must FMA-Regulated Brokers Follow?

The New Zealand Financial Markets Authority (Te Mana Tātai Hokohoko in Maori) has strengthened its Broker Obligations over the years. Among the key requirements and safeguards for traders include:

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You can report an illegal investment platform or trading scam directly through the FMA website.

What Powers Do the FMA Have?

Brokers that fail to follow the FMA’s rules risk legal consequences, with New Zealand’s regulator demonstrating a willingness to take proactive action against various trading platforms in recent years.

Bottom Line

New Zealand has stepped up its regulatory oversight of online brokers in recent years, with its FMA now on an equal footing with financial bodies like the ASIC in Australia.

For New Zealand residents, opening an account with an FMA-regulated broker is highly advisable. This should give you confidence that the brokerage can be trusted and operates a fair and transparent trading environment.

Still, it’s important to note online trading remains risky, regardless of whether your broker is regulated in New Zealand or not. You risk losing all the New Zealand Dollars you invest.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com