Best forex brokers in New Zealand
We checked which brokers let people living in New Zealand trade forex: 3 of the 7 we follow do. XTB does not accept residents of New Zealand, so XM leads.
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
How we score
Each broker gets five sub-scores out of 5:
Regulation and safety (30%), trading costs (25%), platforms and tools (20%), range of markets (15%) and ease of use (10%). The overall score is the weighted average, rounded to one decimal.
Availability is checked against each broker's published country lists. The ranking order is editorial and reflects our commercial agreements, so it does not always follow the scores. Full methodology
Advertiser disclosure
Broksal is free to use because some brokers pay us a commission when you open an account through our links. This can influence which broker we feature and the order in which brokers appear.
Commissions never change the facts we publish about regulation, fees or country availability, and they cost you nothing.
Top 3 forex brokers for New Zealand
- 1
Our top pick in New Zealand
XM
4.6MT4 and MT5 from a $5 deposit, with multiple account types
XTB is not available in New Zealand
Forex CFDs MetaTrader 4 and 5 from a $5 deposit; the Ultra Low account averages 1.1 pips on EUR/USD with no commission.
- Minimum deposit
- $5
- Platforms
- MetaTrader 4, MetaTrader 5, XM app
- Entity for New Zealand
- XM Global Limited — FSC (Belize)
- CFDs
- Yes
Show pros, cons and feesHide details
XM's MetaTrader platform on desktop and mobile, with one-click trading on EUR/USD. XM's EU site states that 75.12% of retail investor accounts lose money when trading CFDs with this provider. What we like
- Very low minimum deposit outside the EU
- MT4 and MT5 plus its own mobile app
- Accepts residents of a very wide list of countries
- Standard, Ultra Low and Shares account types
Watch out for
- Not available in the US, Canada, Israel or the UK
- Most non-EU clients are onboarded by an offshore entity with lighter protection
- Dormant account fee after 90 days without activity
Fees
The Standard account is commission-free with costs built into the spread; the Ultra Low account offers tighter spreads. Swaps apply on positions held overnight. A monthly dormant fee is charged after 90 days of inactivity.
Best for
MetaTrader users with small starting balances.
- 2
Interactive Brokers
4.7The widest market access here, with low costs and top-tier regulation
Spot forex and CFDs Interbank pricing from 0.1 pips with a 0.2 basis point commission (minimum $2); spot forex as well as forex CFDs.
- Minimum deposit
- No minimum
- Platforms
- Trader Workstation (TWS), IBKR Desktop, Client Portal (web) +2
- Entity for New Zealand
- Interactive Brokers LLC / regional affiliate — Top-tier regulators
- CFDs
- Yes
Show pros, cons and feesHide details
Interactive Brokers homepage, showing the desktop platform and mobile app and the new AI-assisted analysis integrations. What we like
- Listed on Nasdaq and regulated by top-tier authorities worldwide
- Access to stocks, options, futures and bonds on 150+ markets
- No minimum deposit and no inactivity fee
- Accepts residents of most countries
Watch out for
- Trader Workstation has a steep learning curve
- CFDs are not available to US residents
- Account opening asks for more documents than most brokers
Fees
Two pricing plans: Fixed (one all-in commission) and Tiered (lower exchange-based commission plus pass-through fees). CFD commissions are charged per trade, with financing on overnight positions. There is no inactivity fee.
Best for
Experienced investors who want access to global exchanges.
- 3
IQ Option
4.1A $10 minimum deposit and one of the simplest trading apps
Forex CFDs Forex CFDs on a very simple app from a $10 deposit; publishes only minimum spreads (from 0.8 pips).
- Minimum deposit
- $10
- Platforms
- IQ Option web platform, Desktop app, Mobile app
- Entity for New Zealand
- IQ Option international entity — Offshore entity
- CFDs
- Yes
Show pros, cons and feesHide details
IQ Option EU homepage (CySEC licence 247/14): CFDs on forex, stocks and crypto, with leverage up to 1:30 on forex for EU retail clients. What we like
- $10 minimum deposit and a reloadable demo account
- Very easy proprietary platform on web, desktop and mobile
- CySEC regulated entity for EEA clients
Watch out for
- No MetaTrader, limited research tools
- Not available in the US, UK, Canada, Australia and several EU countries
- Clients outside the EEA are served by a lightly regulated entity
Fees
CFD costs are built into the spread, with overnight funding on leveraged positions. An inactivity fee is charged after a period without trading.
Best for
Beginners who want a very simple app and a small first deposit.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.
Forex from New Zealand: the rules
Brokers usually serve New Zealand through offshore entities where forex leverage can be far higher than in the EU. Higher leverage magnifies losses as much as gains. Locally, financial services are supervised by the Financial Markets Authority (FMA).
Best time to trade currencies from Wellington
Major currency pairs are usually most liquid while London and New York are both open: 02:30–04:30 local time (UTC+13, early October 2026). The forex week runs from Monday 10:00 to Saturday 10:00 local time.
All 7 brokers we review, checked for forex in New Zealand
| Broker | Status | Access | Entity for New Zealand |
|---|---|---|---|
| XTB | Not available in New Zealand | — | — |
| XM | #1 in this ranking | Forex CFDs | XM Global Limited — FSC (Belize) |
| IC Markets | Not available in New Zealand | — | — |
| Interactive Brokers | #2 in this ranking | Spot forex and CFDs | Interactive Brokers LLC / regional affiliate — Top-tier regulators |
| Freedom24 | Not available in New Zealand | — | — |
| IQ Option | #3 in this ranking | Forex CFDs | IQ Option international entity — Offshore entity |
| eToro | Not available in New Zealand | — | — |
Forex rankings elsewhere in Australia and New Zealand
| Country | Brokers offering forex | #1 |
|---|---|---|
| 🇦🇺 Australia | 3 | IC Markets |
Frequently asked questions
What is the best forex broker in New Zealand?
XM, in our ranking. MetaTrader 4 and 5 from a $5 deposit; the Ultra Low account averages 1.1 pips on EUR/USD with no commission. Interactive Brokers and IQ Option complete the top 3.
Which brokers offer forex to residents of New Zealand?
Of the brokers we review: XM (forex cfds), Interactive Brokers (spot forex and cfds) and IQ Option (forex cfds).
What are the rules for forex in New Zealand?
Brokers usually serve New Zealand through offshore entities where forex leverage can be far higher than in the EU. Higher leverage magnifies losses as much as gains.
When is forex most liquid in New Zealand?
Usually 02:30–04:30 local time, while London and New York are both open (early October 2026 times).
Which forex broker has the lowest costs?
On a one-lot EUR/USD trade, Interactive Brokers was cheapest in our fee comparison, followed by XTB and IC Markets at about $8. For small trades the $2 minimum commission at IBKR makes XTB cheaper.
Availability last checked 6 October 2026. Brokers change their country lists without notice; the broker's sign-up form is the final word.