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

Click a broker for details
  1. 1
    BlackBull Markets

    Ratings
    3.8 / 5
    3.8 / 5
    3.9 / 5
    4 / 5
    4.1 / 5
    3.7 / 5
    4 / 5
    3.5 / 5
    3.7 / 5
    3.7 / 5

    $0
    0.01 Lots
    1:500
    FMA, FSA
    Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos
    MT4, MT5, cTrader, TradingView, AutoChartist
    Neteller, Skrill, Visa, UnionPay, FasaPay, Mastercard, Credit Card, Bitcoin Payments, Debit Card, Boleto
    USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD
  2. 2
    CMC Markets
    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

    Ratings
    4.8 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.3 / 5
    4.1 / 5
    3.7 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
    Web, MT4
    Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, PayPal
    USD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN
  3. 3
    Plus500
    80% of retail CFD accounts lose money.

    Ratings
    3.5 / 5
    4.1 / 5
    3.5 / 5
    4 / 5
    3.1 / 5
    4 / 5
    2 / 5
    3 / 5
    4.1 / 5
    4.3 / 5

    $100
    0.01 Lots
    1:30
    FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA
    CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto
    WebTrader, App
    PayPal, Skrill, Visa, Wire Transfer, Mastercard, Credit Card, Debit Card, Trustly, Apple Pay
    USD, EUR, GBP, AUD, ZAR, CZK
  4. 4
    Axi
    81.6% of retail investor accounts lose money when trading CFDs with this provider

    $0
    0.01 Lots
    1:400
    FCA, ASIC, DFSA, FMA
    Forex, CFDs, indices, shares, commodities, cryptocurrencies
    MT4, AutoChartist
    Neteller, Skrill, Credit Card, Debit Card, Visa, Mastercard, JCB Card, Wire Transfer, FasaPay, PIX Payment, Maestro, Boleto, Giropay, Sofort, POLi, BPAY, iDeal, Alipay
    USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD
  5. 5
    ThinkMarkets
    71.89% of retail investor accounts lose money when trading CFDs with this provider.

    Ratings
    4.3 / 5
    4 / 5
    4.2 / 5
    4 / 5
    4.3 / 5
    4.3 / 5
    4.2 / 5
    4.1 / 5
    4.8 / 5
    4 / 5

    $0
    0.01 Lots
    1:500
    FCA, ASIC, CySEC, FSCA, JFSA, FSA, DFSA, FMA
    CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)
    ThinkTrader, MT4, MT5, AutoChartist, TradingCentral
    Mastercard, POLi, BPAY, Credit Card, Visa, Skrill, Neteller, Wire Transfer, Google Wallet, Apple Pay
    USD, EUR, GBP, AUD, JPY, CHF
  6. 6
    RockGlobal
    30% deposit bonus

    Ratings
    4 / 5
    3.3 / 5
    4.3 / 5
    3.8 / 5
    3.5 / 5
    3.5 / 5
    3 / 5
    2.8 / 5
    4.3 / 5
    4.6 / 5

    $200
    0.01 Lots
    1:500
    FSP, FMA
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures
    Trader Workstation (TWS), MT4
    Visa, Mastercard, POLi, Wire Transfer, Debit Card, Credit Card, Bitwallet
    USD, EUR, AUD, NZD, JPY
  7. 7
    MultiBank FX
    20% deposit bonus

    $50
    0.1 Lots
    1:500
    SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC
    Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies
    MultiBank-Plus, MT4, MT5, cTrader
    Wire Transfer, Swift, Visa, Mastercard, Credit Card, Skrill, Neteller, Perfect Money, GlobePay
  8. 8
    TMGM
    Point-based loyalty system

    $100
    0.01 Lots
    1:500
    ASIC, FMA, VFSC
    CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex
    MT4, MT5, TradingView, TradingCentral
    Credit Card, Debit Card, Visa, Mastercard, UnionPay, Neteller, Skrill, Wire Transfer, FasaPay, Alipay
    USD, EUR, GBP, CAD, AUD, NZD

This is why we think these brokers are the best in this category:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. ThinkMarkets - Founded in 2010, ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. The broker provides services to over 450,000 accounts from 11 global offices. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.
  6. 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.
  7. 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.
  8. 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.

New Zealand FMA Brokers Comparison

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

BlackBull Markets

"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."

Tobias Robinson, Reviewer

BlackBull Markets Quick Facts

Demo AccountYes
InstrumentsForex, CFDs, stocks, indices, energies, metals, commodities, cryptos
RegulatorFMA, FSA
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD

Pros

  • CopyTrader, ZuluTrade, HokoCloud and Myfxbook copy trading
  • Superb range of platforms including TradingView Pro
  • Excellent educational content for beginners

Cons

  • Withdrawal fees with some methods
  • US traders not accepted

CMC Markets

"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. "

Christian Harris, Reviewer

CMC Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
RegulatorFCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
PlatformsWeb, MT4
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SEK, NOK, SGD, PLN

Pros

  • CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
  • The brokerage continues to stand out with its wide range of value-add resources, including pattern recognition scanners, webinars, tutorials, news feeds, and research from respected sources like Morningstar.
  • CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.

Cons

  • Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.
  • The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
  • Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.

Plus500

"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."

Christian Harris, Reviewer

Plus500 Quick Facts

Demo AccountYes
InstrumentsCFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto
RegulatorFCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA
PlatformsWebTrader, App
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30
Account CurrenciesUSD, EUR, GBP, AUD, ZAR, CZK

Pros

  • You can utilize leverage while engaging in long or short positions, allowing for more strategic trading opportunities
  • The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
  • Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface

Cons

  • Algo trading and scalping are not supported, which may deter some day traders
  • Compared to some competitors, especially IG, Plus500’s research and analysis tools are limited
  • The absence of social trading means users can’t follow and replicate the trades of experienced traders

Axi

"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."

William Berg, Reviewer

Axi Quick Facts

Demo AccountYes
InstrumentsForex, CFDs, indices, shares, commodities, cryptocurrencies
RegulatorFCA, ASIC, DFSA, FMA
PlatformsMT4, AutoChartist
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:400
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

  • Among other educational resources, there’s an excellent selection of free eBooks for newly registered beginners
  • Traders can choose between 10 base account currencies plus a wide range of free deposit methods, including cryptos
  • Axi is a well-regulated and established broker, with a strong track record since 2007

Cons

  • The tightest round-trip commission fees of $3.50 are only available to those who can deposit $25,000
  • There's a limited choice of third-party charting platforms compared to other brands, with only MT4 available alongside the proprietary app
  • The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more

ThinkMarkets

"With its diverse asset list, competitive fees and superb charting software, ThinkMarkets maintains its position as a top choice for most CFD traders. That said, experienced traders will particularly appreciate the range of advanced tools, including forex signals and VPS solutions."

Tobias Robinson, Reviewer

ThinkMarkets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)
RegulatorFCA, ASIC, CySEC, FSCA, JFSA, FSA, DFSA, FMA
PlatformsThinkTrader, MT4, MT5, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, AUD, JPY, CHF

Pros

  • Unique Traders' Gym simulation tool for testing out strategies on real historical data, with multiple timeframes and custom features
  • Quick and easy to open a ThinkMarkets account
  • Three stable and award-winning platforms plus seamless integration with the broker's Signal Centre

Cons

  • Limited bonus offers, refer-a-friend schemes or trading competitions
  • Not many payment methods available for UK traders
  • $500 minimum deposit for ThinkZero account

RockGlobal

"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."

Tobias Robinson, Reviewer

RockGlobal Quick Facts

Bonus Offer30% deposit bonus
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures
RegulatorFSP, FMA
PlatformsTrader Workstation (TWS), MT4
Minimum Deposit$200
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, AUD, NZD, JPY

Pros

  • High leverage is available up to 1:500
  • There are some helpful learning resources and market analysis for beginners
  • Traders can access high-quality charting platforms with MetaTrader 4 (MT4) and Trader Workstation (TWS)

Cons

  • The $20 inactivity fee is higher than some alternatives
  • Payment methods are limited compared to other brokers, with only card payments and wire transfers available

MultiBank FX

"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."

Tobias Robinson, Reviewer

MultiBank FX Quick Facts

Bonus Offer20% deposit bonus
Demo AccountYes
InstrumentsForex, CFDs, indices, shares, metals, commodities, cryptocurrencies
RegulatorSCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC
PlatformsMultiBank-Plus, MT4, MT5, cTrader
Minimum Deposit$50
Minimum Trade0.1 Lots
Leverage1:500

Pros

  • Vast range of local payment methods with fast withdrawals within 24 hours
  • 24/7 multilingual customer support available across all accounts
  • Global presence with 10+ regulatory licenses, including ASIC (Australia) and MAS (Singapore)

Cons

  • Average education and market research
  • $60 monthly inactivity fee
  • $5,000 minimum deposit required to access ECN spreads

TMGM

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

Tobias Robinson, Reviewer

TMGM Quick Facts

Bonus OfferPoint-based loyalty system
Demo AccountYes
InstrumentsCFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex
RegulatorASIC, FMA, VFSC
PlatformsMT4, MT5, TradingView, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD

Pros

  • Low trading fees with spreads from 1 pip on the classic account and from zero with $7 round-turn commissions on the raw spread account
  • Accommodates new and time-poor traders with copy trading support from HUBx
  • Free VPS for automated trading

Cons

  • $30 fee levied monthly on accounts which are inactive for 6 months or have a balance below $500
  • Shares are only available on the IRESS account, and not tradeable via MT4 and MT5

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.

author image
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:

💡
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