Trading NZD/SGD

NZD/SGD is an exotic forex pair with interesting features that make it a noteworthy trading vehicle. The New Zealand dollar, also known as the kiwi, is the 10th most traded currency in the forex market, while the Singapore dollar is considered one of the most stable currencies in the world. The review breaks down the advantages and disadvantages of day trading NZD/SGD, its history, investing tips, a live chart, and more.

NZD/SGD Trading Brokers

  1. OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
  2. Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
  3. IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
  4. AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
  5. FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.

Trading NZD/SGD Comparison

Trading NZD/SGD Comparison
Broker Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Regulator Visit
OANDA US logo
65+ 1.6
$0 NFA, CFTC Visit
Vantage logo
55+ 0.0
$50 FCA, ASIC, FSCA, VFSC Visit
IC Markets logo
75 0.02
$200 ASIC, CySEC, FSA Visit
AvaTrade logo
50+ 0.9
- ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM Visit
FOREX.com logo
80+ 1.2
$100 NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA Visit
Pepperstone logo
100+ 0.1
$0 FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB Visit
XM logo
55+ 1.6
$5 ASIC, CySEC, DFSA, FSC, FSCA Visit
Eightcap logo
50+ 0.0
$100 ASIC, FCA, xCySEC, SCB Visit
PrimeXBT logo
45+ Variable
$0 - Visit
IQ Option logo
60+ 14 pips
$10 - Visit
BDSwiss logo
50+ 1.2
$10 FSC, FSA Visit
FxPro logo
70+ 1.58 pips (Ave)
$100 FCA, CySEC, FSCA, SCB, FSC Visit
FXCC logo
70+ 0.2
$0 CySEC Visit
XTB logo
70+ 1.0
$0 FCA, CySEC, KNF, CNMV, DFSA, FSC Visit
Plus500 logo
60+ 0.6
$100 FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA Visit

#1 - OANDA US

Why We Chose OANDA US

OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • GBPUSD Spread: 3.4
  • EURUSD Spread: 1.6
  • EURGBP Spread: 1.7
  • Total Assets: 65+
  • Leverage: 1:50
  • Platforms: OANDA Trade, MT4, TradingView, AutoChartist

About OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

Pros

  • There's a strong selection of 68 currency pairs for dedicated short-term forex traders
  • Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
  • Beginners can get started easily with $0 minimum initial deposit

Cons

  • There's only a small range of payment methods available, with no e-wallets supported
  • It's a shame that customer support is not available on weekends
  • The range of day trading markets is limited to forex and cryptos only

#2 - Vantage

Why We Chose Vantage

Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.

"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."

- DayTrading Review Team
  • GBPUSD Spread: 0.5
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.5
  • Total Assets: 55+
  • Leverage: 1:500
  • Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade

About Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

Pros

  • The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
  • Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
  • There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5

Cons

  • It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
  • A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
  • The average execution speeds of 100ms to 250ms are slower than alternatives based on tests

#3 - IC Markets

Why We Chose IC Markets

IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.

"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."

- DayTrading Review Team
  • GBPUSD Spread: 0.23
  • EURUSD Spread: 0.02
  • EURGBP Spread: 0.27
  • Total Assets: 75
  • Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade

About 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.

Pros

  • With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.

Cons

  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.

#4 - AvaTrade

Why We Chose AvaTrade

AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.

"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."

- DayTrading Review Team
  • GBPUSD Spread: 1.5
  • EURUSD Spread: 0.9
  • EURGBP Spread: 1.5
  • Total Assets: 50+
  • Leverage: 1:30 (Retail) 1:400 (Pro)
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About 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, alongside a comprehensive education center and multilingual customer support.

Pros

  • Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
  • The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders

Cons

  • Traders from the US are not accepted
  • 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

#5 - FOREX.com

Why We Chose FOREX.com

FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

- DayTrading Review Team
  • GBPUSD Spread: 1.3
  • EURUSD Spread: 1.2
  • EURGBP Spread: 1.4
  • Total Assets: 80+
  • Leverage: 1:200 (Retail), 1:500 (Pro)
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

About FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

Pros

  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.

Chart

Pros Of Trading NZD/SGD

Risks Of Trading NZD/SGD

Influences On NZD/SGD Movement

Many factors can affect the NZD into SGD market sentiment and spot rates:

Correlations

Currencies don’t move independently. Price movement in one pair is often reflected in other pairs with a change in the same direction known as a positive correlation while a trend in the opposite direction is known as a negative correlation.

As NZD/SGD does not have a US dollar component, it is known as a cross pair. Cross pairs often move differently to majors but still in line with other currencies. For example, the movement of New Zealand’s neighbouring currency, the Australian dollar, is often positively correlated to NZD, while SGD is influenced by the USD.

Application

The NZD/SGD can be traded alongside AUD/USD and USD/SGD. It is important to note, however, that correlations don’t remain stable. Economic factors and market speculation can cause shifts in currency correlations.

NZD/SGD Day Trading Strategy

Whatever trading strategy you opt for, consider the below.

Timing

Successful NZD/SGD day trading depends on timing. This means trading with high levels of volume and volatility in order to generate profits above the costs of spreads and commission. While the forex market is open 24/5, this doesn’t mean that every one of those hours is worth trading. Therefore you should trade within the ideal window.

Since New Zealand and Singapore are located in the Asia-Pacific region, NZD and SGD will be particularly active from 23:00 GMT to 08:00 GMT. This time frame is when liquidity is at its highest and when bid-ask spreads are lower.

Brokers

Before investing and opening an account with a broker, you should check they offer the NZD/SGD. As an exotic, you might find this pair is not as widely available as majors. Also, the broker may not offer the same leverage on exotics.

Popular brokers like IG and Oanda offer the NZD/SGD. Other resources like TradingView, DailyFX and Yahoo Finance offer technical analysis, exchange rate history, forecasts, conversions and the best spot rates.

News

The latest market news and political events can impact the NZD v SGD exchange rate. There are many dedicated forex news sources that you can follow i.e. Bloomberg and Reuters. You can also practice NZD/SGD trading using fundamentals on a demo account.

History Of NZD

From 1840, the New Zealand pound was the country’s official currency. The New Zealand dollar was introduced in 1967. In 1993, the country issued its first official coins based on the British pound, shilling and pence system.

In 1964, the New Zealand Parliament passed the Decimal Currency Act, which shifted the NZ dollar to a decimal system and transitioned it to the current NZD. This also replaced the pound, shillings and pence with dollars and cents.

NZD was pegged to the USD at 1 NZD = 1.43 USD until 1985 when it was then pegged to a trade-weighted basket of currencies. Since then the New Zealand dollar has been a free-floating currency.

History Of SGD

In 1824, Singapore became a colony of the British Empire. It was then occupied by the Japanese during WWII. For two years in 1963, Singapore was under the federation of Malaysia. However, Singapore gained its independence in 1965. During this, it went through a series of using the Straits dollar, Malayan dollar, the Malaya and the British Borneo dollar.

The Singapore dollar was first circulated in 1967 and it was pegged to the British pound at 8.57 SGD = 1 GBP. Between 1973 and 1985, it was pegged to a hidden basket of foreign currencies. But since then, the Monetary Authority of Singapore has authorised the Singapore dollar as a free-floating currency.

Role Of NZD

The NZD is informally known as the ‘kiwi’, which is a flightless bird native to the country that appears on its $1 coin. As well as New Zealand, the NZD also circulates in the Tokelau, Pitcairn Islands, Niue, and the Cook Islands. The NZ dollar is regulated by the Reserve Bank of New Zealand and is in the top 10 most traded currencies in the forex market.

After the financial crash in 2008, the NZD was one of many high-yielding currencies that lost value, which is why it’s considered a carry trade currency. The country’s economy is greatly dependant on international trade, mainly with the EU, the US, Australia, China and Japan, and is considered a commodity currency. Its main exports include agricultural products like wool, meat and dairy products. Tourism is also important to New Zealand’s economy with the currency appreciating when it attracts holidaymakers.

Role Of SGD

The SGD is regulated by the Monetary Authority of Singapore, which serves as the country’s central bank and financial regulatory entity. The SGD is also a highly traded currency in the forex market, ranked 13th by volume in 2019.

The country is known as a fast-growing and developing Asian nation. For context, its GDP grew from 2.9% to 3.7% between 2015 and 2018. It is also considered one of the strongest and most stable currencies worldwide.

Singapore’s economy is highly dependant on exports such as consumer electronics, pharmaceuticals, petroleum and chemicals. The country is also widely recognised as a major financial services hub and attracts foreign investment due to its competitive tax rates, skilled workforce, and business-friendly culture.

Final Word On Trading NZD/SGD

Trading the NZD/SGD offers an opportunity to diversify your portfolio with an exotic pair. Traders should utilise live exchange rate charts, technical analysis and capitalise on the volumes seen during the most active trading window. It’s also worth keeping up with news events in the respective countries and opening an account with reliable brokers for day trading forex.

FAQ

Is the NZD going to get stronger against SGD?

The NZD exchange rate is affected by many factors, including its strength as a commodity currency and economic events. It’s important to check up-to-date news and live charts for forecasting.

What is the NZD and SGD exchange rate history?

You can find several resources online where you can view historical charts with NZD into SGD exchange rates. Understanding the historical trends behind the currency pair may help with future predictions.

What is the conversion rate of 1 NZD = SGD?

The NZD to SGD conversion rate is continuously moving. See the live price chart in our article for the rate today.

When should I trade the NZD/SGD pair?

Many strategies lend themselves to trading when the forex market sees the most volume, bringing with it tighter spreads and reduced costs. The ideal trading window is during the Asia Pacific session Monday to Friday from 23:00 GMT to 08:00 GMT the next day.

How do I start trading NZD/SGD?

To start forex trading NZD/SGD, you’ll need a broker that offers the currency pair along with excellent tools and favourable trading conditions. See our list of the best forex brokers.