Best Day Trading Platforms and Brokers in New Zealand 2024
The best day trading platforms in New Zealand offer short-term trading on Asia-Pacific markets with regulation from a trusted body, such as the Financial Markets Authority (FMA). Many top brokers also cater especially to day traders in New Zealand with convenient deposits to NZD accounts.
Explore the best platforms for day trading in New Zealand. Our experts have evaluated each broker’s suitability for day traders, including charting software, execution speeds and pricing.
Top 10 Platforms For Day Trading In New Zealand
Our findings show these are the top 10 brokers for day trading in New Zealand:
-
1
Moneta Markets50% Cashback Bonus, Free VPS
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:1000ASIC, FSCA, FSACFDs, Forex, Stocks, Indices, Commodities, ETFs, CryptoAppTrader, ProTrader, MT4, MT5, TradingCentralVisa, Bitcoin Payments, Mastercard, Wire Transfer, FasaPay, Sticpay, JCB Card, Credit CardUSD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL -
2
BlackBull Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:500FMA, FSAForex, CFDs, stocks, indices, energies, metals, commodities, cryptosMT4, MT5, cTrader, TradingView, AutoChartistNeteller, Skrill, Visa, UnionPay, FasaPay, Mastercard, Credit Card, Bitcoin Payments, Debit Card, BoletoUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD -
3
AvaTrade20% Welcome Bonus up to $10,000
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
4
RockGlobal30% deposit bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2000.01 Lots1:500FSP, FMACFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, FuturesTrader Workstation (TWS), MT4Visa, Mastercard, POLi, Wire Transfer, Debit Card, Credit Card, BitwalletUSD, EUR, AUD, NZD, JPY -
5
IC Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2000.01 Lots1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)ASIC, CySEC, FSA, CMACFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, CryptoMT4, MT5, cTrader, TradingView, TradingCentral, DupliTradePayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeChargeUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
6
Deriv.com
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:1000MFSA, LFSA, VFSC, BFSCCFDs, Multipliers, Forex, Stocks, Indices, CommoditiesDeriv Trader, MT5Neteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCashUSD, EUR, GBP, AUD -
7
XM$30 No Deposit Bonus When You Register A Real Account
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:1000ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
8
RoboForex$30 No Deposit BonusRoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:2000IFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, FuturesR StocksTrader, MT4, MT5, TradingViewVisa, iDeal, Trustly, Neteller, Skrill, Giropay, Sofort, Wire Transfer, Rapid Transfer, Alipay, POLi, Perfect Money, MoneyGram, Cashu, SafeCharge, WeChat Pay, Vietcombank Transfer, Volet, ecoPayz, AstroPayUSD, EUR -
9
DNA Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:500ASICCFDs, Forex, Indices, Commodities, Stocks, CryptoMT4, MT5Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, MastercardUSD, EUR, GBP, CAD, AUD, NZD, SGD -
10
eToro51% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100$10FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMFCFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTseToro Web, CopyTrader, TradingCentralVisa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, Trustly, Przelewy24USD
Here is a short summary of why we think each broker belongs in this top list:
- Moneta Markets - Founded in 2019 and headquartered in Johannesburg, South Africa, Moneta Markets offers over 1000 instruments for short-term trading. New traders can choose between STP and ECN accounts while the smooth sign-up process has helped attract 70,000 registered traders.
- 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.
- AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
- 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.
- IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- Deriv.com - Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
- XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
- RoboForex - RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
- DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
- eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail CFD accounts lose money.
Best Day Trading Platforms and Brokers in New Zealand 2024 Comparison
| Broker | NZD Account | Minimum Deposit | Financial Instruments | Trading Platforms |
|---|---|---|---|---|
|
|
✔ | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto | AppTrader, ProTrader, MT4, MT5, TradingCentral |
|
|
✔ | $0 | Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos | MT4, MT5, cTrader, TradingView, AutoChartist |
|
|
- | $100 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
|
|
✔ | $200 | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures | Trader Workstation (TWS), MT4 |
|
|
✔ | $200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
|
|
- | $5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 |
|
|
- | $5 | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures | MT4, MT5 |
|
|
- | $10 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures | R StocksTrader, MT4, MT5, TradingView |
|
|
✔ | $100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 |
|
|
- | $100 | CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs | eToro Web, CopyTrader, TradingCentral |
Moneta Markets
"With ECN pricing featuring spreads from 0 and commissions from $1, high leverage of up to 1:1000, and the terrific ProTrader charting platform, Moneta Markets is an excellent broker for experienced day traders."
Christian Harris, Reviewer
Moneta Markets Quick Facts
| Bonus Offer | 50% Cashback Bonus, Free VPS |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto |
| Regulator | ASIC, FSCA, FSA |
| Platforms | AppTrader, ProTrader, MT4, MT5, TradingCentral |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL |
Pros
- Moneta Markets supports a growing suite of 1000+ tradable assets, with a particularly strong selection of commodities and more recently fresh index CFDs.
- The broker offers competitive leverage rates of up to 1:1000, allowing experienced day traders to amplify their positions and potentially increase their returns.
- Registering for an account with Moneta Markets is quick and easy through the digital sign-up process, taking just a few minutes with an accessible $50 minimum deposit.
Cons
- Clients need an account balance of at least $500 to access educational materials, a serious drawback for beginners who can get free materials from brokers like IG and eToro.
- Whilst TradingView-backed ProTrader is intuitive, there are limitations compared to the full TradingView platform, notably time frames lack seconds or ranges, and community scripts can’t be added.
- The best pricing is reserved for traders who deposit $20,000 for the ECN Ultra account, putting it out of reach for most retail investors.
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 Account | Yes |
|---|---|
| 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 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD |
Pros
- Mobile trading experience upgraded with direct TradingView integration
- Responsive customer service during testing
- CopyTrader, ZuluTrade, HokoCloud and Myfxbook copy trading
Cons
- US traders not accepted
- Withdrawal fees with some methods
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
AvaTrade Quick Facts
| Bonus Offer | 20% Welcome Bonus up to $10,000 |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures |
| Regulator | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
- Day traders can access stable spreads and zero commissions with no hidden fees
Cons
- There is no ECN account with raw spreads
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
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. RockGlobal is a particularly good fit for traders from New Zealand where the firm is headquartered and licensed by the FMA."
RockGlobal Quick Facts
| Bonus Offer | 30% deposit bonus |
|---|---|
| Demo Account | Yes |
| 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 |
| Account Currencies | USD, EUR, AUD, NZD, JPY |
Pros
- There are some helpful learning resources and market analysis for beginners
- High leverage is available up to 1:500
- 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
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
IC Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
| Regulator | ASIC, CySEC, FSA, CMA |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
| Minimum Deposit | $200 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
Deriv.com
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
Deriv.com Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Multipliers, Forex, Stocks, Indices, Commodities |
| Regulator | MFSA, LFSA, VFSC, BFSC |
| Platforms | Deriv Trader, MT5 |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, AUD |
Pros
- The low $5 minimum initial deposit suits those on a lower budget
- Deriv bolstered its short-term trading opportunities in 2024 with accumulator options on simulated indices featuring up to 5% growth rates
- Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
Cons
- There's no loyalty program or rebate scheme for high volume traders
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
XM
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
William Berg, Reviewer
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
| Regulator | ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF |
| Platforms | MT4, MT5 |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- XM is a hugely respected broker authorized by tier-one regulators
- 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
- XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
Cons
- There is weak regulatory oversight through the global entity
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- PayPal deposits are not supported
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
RoboForex Quick Facts
| Bonus Offer | $30 No Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures |
| Regulator | IFSC |
| Platforms | R StocksTrader, MT4, MT5, TradingView |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR |
Pros
- RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
Cons
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
- Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their day trading activities and is available at firms like Fusion Markets.
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
DNA Markets
"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "
DNA Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- After a recent upgrade, there are now over 800 assets available to trade via CFDs, with a particularly impressive range of 120+ cryptos
- Convenient account funding is available with 7 base currencies, a $100 deposit and a wide range of payment methods
- DNA Markets offers top-rate platforms and charting tools for day traders with access to MT4 and MT5
Cons
- Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
- Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
- Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
eToro
"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."
eToro Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs |
| Regulator | FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF |
| Platforms | eToro Web, CopyTrader, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
- eToro is a world-renowned brand with top-tier global regulation and a 25M+ user community
- eToro has bolstered its investment offering, most recently with new crypto assets, now offering over 90 digital currencies
Cons
- Traders will face currency conversion fees for account denominations other than USD
- There are limited contact methods aside from the in-platform live chat
- There is a $30 minimum withdrawal amount and a $5 fee, which will affect novices with low capital
Choosing A Day Trading Broker In New Zealand
Drawing on our extensive experience assessing day trading brokers, there are several factors to keep in mind when selecting a platform:
Choose A Trustworthy Day Trading Broker
Many of the best brokers in New Zealand are authorized by the local regulator, the Financial Markets Authority (FMA), which enforces guidelines to protect retail investors from unfair trading practices, risky financial products and trading scams.
In fact, the FMA has published useful tips on how to spot a trading scam:
- They claim that returns are guaranteed (day trading is risky and you can lose your investment)
- They provide little or no information in writing (trusted brokers have transparent websites & apps)
- They claim that everything is urgent or secret (legit firms will not pressure you to start trading)
- They ask for unusual payments (reputable brokers offer secure deposit methods, e.g. PayPal NZ)
Importantly, some day trading brokers hold licenses in other strictly regulated regions, such as Australia, however you may give up certain protections, notably participation in New Zealand’s dispute resolution program and investor protection fund.
- Blackbull is the most trusted day trading broker in New Zealand. It’s FMA-licensed, based in Auckland, uses segregated accounts at the country’s tier-1 banks, and has 10+ years experience.
Choose A Day Trading Broker With Excellent Market Coverage
The top brokers offer short-term trading opportunities on a wide range of asset classes, sectors and geographies, catering to a broad spectrum of traders.
For day traders in New Zealand, regional markets such as equities listed on the New Zealand Stock Exchange (NZX), the S&P/NZX indices, and currency pairs like the NZD/USD, EUR/NZD and AUD/NZD, may be particularly important.
As part of our evaluations, we also prioritize brokers with products specifically designed for short-term trading, such as contracts for difference (CFD), allowing you to go long or short on New Zealand stocks, for example, without taking ownership of shares.
- eToro offers a superb selection of markets, including popular stocks like Spark New Zealand Ltd (SPK) and Auckland International Airport (AIA), as well as 50+ currency pairs, featuring NZD crosses. Its huge selection of digital currencies also helped it scoop our ‘Best Crypto’ award.
Choose A Broker With Low Day Trading Fees
Leading day trading brokers offer excellent pricing to help short-term traders, who typically execute a large volume of orders, keep transaction costs down.
We always analyze fees as part of our exhaustive review process. To paint a picture of costs for all types of day traders, we evaluate spreads and/or commissions on a wide range of asset classes, from forex, stocks and indices to commodities and cryptocurrencies.
Then we overlay our personal observations to balance quality with price. That’s because testing close to 500 day trading brokers has taught us that it can be worth paying more for more reliable order execution or analyst insights into interest rate decisions from the Reserve Bank of New Zealand, for example, which may impact stock and currency prices.
- RockGlobal is one of the most affordable day trading brokers in New Zealand, with a $0 deposit, spreads from 0.7 pips on NZD/USD and low commissions from 0.189% on Asia-Pacific shares.
Choose A Broker With Reliable Charting Platforms
Day traders require stable, user-friendly and powerful platforms which can facilitate short-term trading strategies.
We personally test desktop platforms, web traders and increasingly mobile apps, to evaluate their usability and the completeness of their charting packages, including technical indicators, drawing tools and timeframes.
MetaTrader 4 (MT4) continues to dominate the day trading industry, and is offered by the majority of online brokers. That said, after countless hours using it over the years, we’re growing tired of its outdated design.
Fortunately, we’re seeing the in-house software offered by the likes of CMC Markets and AvaTrade increasingly rival established third-party solutions, featuring more intuitive workspaces with comprehensive tools for day traders at all levels.
- Moneta Markets supports several leading charting platforms, including MT4, TradingView, a proprietary mobile app, and a copy trading solution, all available with a free demo.
Choose A Broker With High-Quality Order Execution
The best day trading platforms in New Zealand execute orders quickly and with no rejects or requotes.
Optimum speeds, ideally less than 100 milliseconds, help ensure that there is limited downtime between the requested fill price and the actual fill price.
This is particularly important when day trading fast-moving markets like the NZD/JPY, which is especially volatile given the New Zealand Dollar’s status as a commodity currency whose value can fluctuate significantly depending on the price of the country’s agricultural exports.
- IC Markets is an ultra-fast day trading broker, with execution speeds from 35ms across its desktop and mobile platforms, catering to various short-term traders, notably scalpers and algo traders.
Choose A Broker With Clear Leverage and Margin Requirements
Leverage is a critical feature for many day traders because it allows you to boost your trading results beyond what you could afford with your existing cash.
Let’s say I decide to put NZ$100 in a long position on the NZD/USD currency pair, using 1:20 leverage. This would effectively increase my buying power to 20x my initial investment (NZ$2,000), meaning any gains or losses would also be multiplied by a factor of 20.
- AvaTrade excels in its transparent margin requirements across all its assets, for example, 5% (1:20 leverage) on the NZD/USD. It’s also one of the few brokers to offer bespoke a risk management tool, AvaProtect, which provides up to $1,000,000 in protection.
Methodology
The best day trading brokers in New Zealand have been selected from our extensive database of brokers; organized into those that accept traders from New Zealand and ranked by their overall rating which factors in key areas, such as: 
- We checked that the broker accepts day traders from New Zealand and is regulated by a trusted body like the FMA.
- We prioritized brokers with low trading fees on popular markets like the EUR/USD and Oil.
- We focused on brokers with a wide investment offering, for example, stocks on New Zealand’s Exchange.
- We checked for powerful and user-friendly charting platforms for traders at all levels.
- We favored brokers with fast order execution to help short-term traders secure optimal prices.
- We ensured brokers offer clear leverage and margin requirements.
FAQ
Which Are The Best Brokers Accepting Day Traders From New Zealand?
Use our list of the best brokers accepting day traders from New Zealand to find the right platform for your needs.
Many of our recommended brokers have tailored their offerings for traders in New Zealand with NZD accounts, a license from the FMA, and offices in Auckland.
Who Regulates Day Trading Platforms In New Zealand?
The Financial Markets Authority (FMA) regulates day trading platforms in New Zealand.
The FMA is a ‘Green-Tier’ regulator, meaning it provides robust investor safeguards, notably access to a dispute resolution scheme, limits on leverage for retail investors up to 1:30, and a requirement for brokers not to misrepresent the risks of online trading.
How Much Capital Do I Need To Start Day Trading In New Zealand?
Our analysis reveals that most day trading brokers in New Zealand allow you to open an account with NZ$250 or less.
That said, some budget-friendly platforms don’t require any minimum – the best are Blackbull Markets and CMC Markets.
Recommended Reading
Article Sources
- New Zealand Financial Markets Authority (FMA)
- New Zealand Stock Exchange (NZX)
- Spark New Zealand Ltd (SPK) - NZX
- Auckland International Airport (AIA) - NZX
- How To Spot A Scam - FMA
- Reserve Bank of New Zealand
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