Best Day Trading Platform in New Zealand in 2021
Which is the best trading platform in New Zealand? Is the best trading platform also best for beginners and day trading?
We have reviewed a great number of online trading platforms and found the answer in the list below. A few of the best platforms that didn’t make the list were trading platforms from Tradefred, BDSwiss, Nord FX, HotForex, CMC Markets and Saxo Bank. The winner from these reviews: The BlackBull Markets trading platform is the best trading platform in New Zealand. Plus500 is licensed and regulated by the Financial Markets Authority, New Zealand’s financial governing body. FXTM and Plust500 also made the top three trading platforms in New Zealand.
The wonderful news for you as a trader is that all eight trading platforms in the list below are completely free. The 8 best trading platforms in New Zealand are:
- BlackBull Markets Trading Platform
- FXCM Trading Platform
- FBS Trading Platform
- VT Markets Trading Platform
- Plus500 Trading Platform
- FXTM Trading Platform
- Moneta Markets Trading Platform
- easyMarkets Trading Platform, great for skilled traders with a nice freeze the price feature.
Of course, all the top eight trading platforms are run by brokers that are correctly regulated and thus you can feel safe about your money. However, as always with trading, never invest more than you can afford to lose. Below you can read our more in-depth reviews of the best eight trading platforms for the New Zealand market.
1. BlackBull Markets Trading Platform
BlackBull Markets offers three trading platforms.
- MT4 is a fully customizable online trading environment most traders know and love. The broker has made it available in a range of versions for Windows, Mac, iOS, and Android.
BlackBull’s version of the platform offers an institutional-grade experience. It supports EAs (Expert Advisors), and together with the VPS service the broker also offers, this sets the stage for profitable algorithmic trading.
Like most of its other features, MT4’s EAs are fully customizable. You do have to be handy with MetaScript, however, if you intend to program your custom EAs.
In addition to EAs and superb charting/technical analysis tools, BlackBull’s MT4 supports multiple order types and analysis tools. Other noteworthy features/functionalities of the platform are enhanced order execution capabilities and a market watch window.
- MT5 is another popular MetaQuotes trading platform, covering slightly different needs than MT4.
MT5’s main strengths are fast order processing, support for advanced pending orders and hedging, as well as a bevy of trading tools and technical indicators.
The version available for download at the BlackBull Markets website comes equipped with more than 30 preinstalled technical indicators, covering more than 20 time frames. The platform also features an integrated economic calendar to help with fundamental analysis.
Traders looking to access MT5 need to talk with the BlackBull Markets support first and obtain permission.
- The BlackBull Markets Web Trader is a simplified version of the MT4 platform. Its trading interface is intuitive, and it offers a great selection of drawing tools and technical indicators.
According to the broker, its Web Trader delivers all the benefits of MT4, in a highly compatible no-download package.
2. FXCM Trading Platform
The trading platform selection of the broker is superb. It does not feature countless choices. Its two platform options cover all possible needs.
Trading Station is the proprietary web-based platform of the broker that anyone can launch in seconds. The broker offers a superb Demo account, with 50,000 units of virtual money. FXCM considers Trading Station to be its ‘main platform’. Unlike other proprietary trading platforms you might encounter, Trading Station is surprisingly powerful. If features scores of technical indicators, superb charting, and outstanding trading tools, such as Trader Sentiment, Market Depth, and Real Trading Volume indicators.
The platform is fully customizable. Users can add an impressive array of widgets and they can optimize the layout of their trading interface. Trading Station features support for automated trading strategies. In addition to strategy optimization, the platform also offers back-testing for various strategies. Through the Trading Station interface, users can trade directly off the charts. They also have access to technical- as well as fundamental data concerning the asset of their choice.
MT4 is the well-known and liked workhorse of the online FX/CFD trading industry. Charting- and features-wise, MT4 is certainly unbeatable. Those who download FXCM’s version are free to use any trading strategy, like scalping. The broker supports EAs as well as the VPS needed for the proper functioning of the Expert Advisors.
MT4 is also a fully customizable trading environment. Users can download and install it in a few seconds. The broker offers a Demo option for this platform as well.
As far as trading tools go, FXCM is probably one of the top destinations. In addition to access to Trading Central, the broker also offers trading tools such as:
- Social Trading
3. FBS Trading Platform
FBS has based its trading platform offer on MetaQuotes’ popular MT4 and MT5. Both trading platforms are well known among traders worldwide. Although MT5 may seem like the natural evolution of its predecessor, it is a solution focused on different trading needs than MT4. Thus, it complements MT4 and does not supplant it.
FBS’ offer of the two trading platforms covers a wide range of operating systems and mobile devices. MT4 and MT5 are available for Windows, Android, and iOS. For macOS only MT4 is available.
The broker offers a web trader, which is also an MT4 version.
MT4 is the most versatile and powerful platform for online trading. It offers outstanding charting features within a fully customizable trading environment. FBS’ version supports Expert Advisors, giving traders the possibility to automate their profitable trading strategies. The downloadable version of the platform comes with scores of preinstalled technical indicators.
The newest version of MT5 offers improved charting, a great trading interface, and the possibility to manipulate trades at will. The platform supports 21 time frames and eight types of pending orders. An economic calendar is part of the platform as well.
Geared toward day traders and advanced users, some of MT5’s features may be intimidating for beginners.
The tools available to clients are a copy-trader that can copy Micro and Standard Accounts, an ECN Account option for those outside the EEA, as well as a zero-spread account. The FBS website features an economic calendar and a currency converter as well.
4. VT Markets Trading Platform
This broker has kept its platform options simple but solid. As mentioned, VTMarkets’ offer is based on the tried-and-proven MT4 platform. The platform is available in WebTrader, full desktop, and mobile versions.
The desktop version is the one that guarantees a full trading experience. MT4, as popular and complex as it is, only takes a few seconds to download on any reasonably fast connection.
VTMarkets’ MT4 is a fully customizable trading environment, which allows traders to adopt any strategy that they wish and automate it through Expert Advisors.
MT4’s charting capabilities are second to none. The platform supports three chart types and up to nine time-frames for proper technical analysis. In VTMarkets’ case, the platform features 70 tradable assets, covering FX pairs, as well as various commodities and indices.
In what other ways does VTMarkets’ MT4 platform stand out?
- It offers superb order execution. The broker uses a proprietary MT4 bridge and high-performance data centers all over the world to facilitate execution speed.
- Through this platform, traders get superb trading conditions. The spreads on the ECN accounts start from 0.0 pips.
- VTMarkets’ MT4 does not impose any restrictions on your trading style.
Perhaps the most appreciated feature of the platform is that it offers free expert advisors and a VPS service to match the generosity of that offer. When using EAs, the speed of execution depends on the network/servers. According to the VTMarkets website, the broker has built a fiber-optic network that connects its servers, to offer optimal execution speeds. While the connection from the client to the server remains a legacy one, the server-to-server fiber-optic network can still hasten execution.
The WebTrader mimics the functionalities of the full desktop MT4, in a browser-based package. The compatibility of the platform is great. It allows users to access it from more than 5 different browsers. And it copes well with the expectations of the modern trader.
It offers great charting, a decent package of technical indicators for analysis, off-the-chart trading, etc.
In addition to the WebTrader, VTMarkets’ MT4 is also available in mobile versions for iOS and Android devices.
As far as trading tools go, in addition to its Expert Advisors, the broker also lists a Forex signal service. Through this service, experts of the broker deliver actionable trading recommendations in an easy-to-read format. The service uses the expertise of signal services such as MetaQuotes, Acceage, and Trading Central.
The broker’s Economic Calendar is a great tool for fundamental analysis. It lists all major upcoming economic events, as well as the impact these events are likely to have on the markets.
5. Plus500 Trading Platform
The trading platforms offered by Plus500 are very simple to operate and seem especially suitable for those interested in dealing in multiple markets. From one single screen, traders can obtain quotes in real-time for any of these asset markets and can execute transactions as well.
The Plus500 trading platform is available in a desktop version called Windows Trader and a web-based version called Web-Trader. In addition, a popular mobile version of the Plus500 platform is available that works on Apple devices like the iPhone, iPad, iPod Touch and Apple Watch. Plus500 apps also exist for mobile devices using the Android and Windows Phone operating systems. Read more about the Plus500 mobile trading app here.
The screenshot shown below displays the functionality of the Plus500 CFD trading platform, which includes trade execution, market pricing overview, a basic chart, position and account balance reports. The platform also has fund management capabilities, which give you as a trader the ability to make deposits and withdrawals from your trading account.
In addition to being able to watch various markets and execute trades, Plus500’s trading platform lets traders easily review past transactions and keep track of current positions. The software also includes a rather basic charting facility with multiple time periods available. Unfortunately, only one chart can be displayed at a time since the system does not support the simultaneous display of multiple charts.
In addition to the functionality provided by offering different versions of the Plus500 trading platform, the broker has also made some nice extra tools available for you as a trader.
One such tool is the Economic Calendar and the platform also offers a Trade Alerts service, as well as a Trader’s Guide.
Nicely there are also several tools available for risk management. Plus500 supports Guaranteed Stops and Trailing Stops, as well as Close at Profit and Close at Loss rates. For your convenience, these tools and their peculiarities are thoroughly explained at the broker’s website.
6. FXTM Trading Platform
In addition to offering the option of using MT4 or MT5 with your FXTM trading account, FXTM offers customers their proprietary FXTM MT4 WebTrader platform. This web based platform requires no download and can be accessed directly from any browser. The WebTrader platform supports all operating systems and has a simple to use interface available translated into 16 different languages.
In addition to one click trading, which allows a trader to make a transaction with a single mouse click, the web platform offers nine chart time frames with trading available directly from the charts. The web platform, which is based on MT4, has all the advanced analysis tools and can be used in both a live account and a demo account.
The screenshot below shows FXTM’s proprietary MT4 WebTrader page with real time market pricing, deal execution, and tools for technical and fundamental analysis.
FXTM now also provides clients with facilities to conduct copy trading on their series of MetaTrader trading platforms. With the copy trading service, FXTM traders can access a wide array of trading signals they can subscribe to. Once subscribed, every trade executed by the signal provider can be automatically copied. With the copy trading service, even novice traders can begin trading like pros.
7. Moneta Markets Trading Platform
Interestingly, Moneta Markets have chosen to go the way of the proprietary trading platform. As such, the broker does not support MT4, MT5, cTrader, or any of the mainstream trading platforms.
Its Web Trader is powerful enough, however, to handle everything a trader may want from it. The platform supports a Demo account that gives traders EUR 25,000 in virtual funds to put the capabilities of the platform to the test.
From a visual point of view, the Moneta Markets trading platform is great. It is easy on the eyes and it has all its functions displayed clearly. Some proprietary trading platforms make it difficult for traders to locate technical indicators and drawing tools. Moneta Markets is not one of these platforms.
Moneta Markets’ Web Trader offers great charting. It features an indicator wizard that lends traders the ability to add one of the tens of supported indicators, within a few clicks. There is an option to pop the chart out into a full-screen view. The platform supports nine time frames for charting, from one minute to a month. Six different chart types are also available. The drawing tools are clearly displayed on the left-hand side of the chart.
Traders can view their pending orders list, trading history, and open trades at the bottom of the screen. All these lists offer a plethora of information on the selected positions.
For every supported asset, the Web Trader features an information panel, where it lists all the information pertaining to the trading conditions of that asset. It lists the spread, the spread type, the lot value, the maximum leverage, the min-max volume, the volume step, and various other relevant bits of data.
On the right side of the chart, just under the Buy/Sell options, the platform features a trader sentiment indicator. This bit of artifice offers vital information that may sway the trader one way or the other, before opening a position.
The platform displays the tradable asset selection on the left-hand side of the chart.
While the Moneta Markets Web Trader is a powerful platform indeed, it does have a few shortcomings, mostly stemming from its proprietary nature.
It does not support automated trading, watch lists, and trading tools such as ZuluTrade, or MirrorTrader. It does, however, support trailing stops. The Moneta Markets trading platform is available in mobile versions as well.
8. easyMarkets Trading Platform
EasyMarkets offers a web based trading platform that allows traders to execute deals from just about any online computer in the world with a browser. In addition, the company offers an MT4 trading platform that has its usual extensive support for technical traders.
This platform gives traders access to quote for more than 200+ instruments, including forex, commodities, metals and indexes, all with online access 24/7 and without the need to download and install any software. One click trading is available from the platform’s Market Explorer, which includes advance charting options, news, technical analysis and market sentiment, all on one screen.
The screenshot below illustrates easyMarket’s trading platform that allows traders to execute deals in forex pairs, vanilla currency options, CFDs, commodities, precious metals and indices, as well as perform technical and fundamental analysis functions.
EasyMarkets’ trading platform runs on Internet Explorer’s Version 10 and above, FireFox, version 31 and above, Google Chrome version 31 and higher, Opera version 24 and above, Android version 4.1 and above, Google Chrome for Android version 37, and Safari version 7 and above. Non-supported browsers remain fully functional despite displaying some stylistic elements differently.
EasyMarkets users can unlock a third trading platform: easyTrade. easyTrade can be accessed from the EasyMarkets platform. In the top right corner, there is a Menu button. Hit that and a number of options will roll out, with easyTrade being at the bottom.
In addition to dealCancellation, the broker also offers a unique trading tool called Freeze Rate. This feature lets traders freeze the price they see, thus gaining a few seconds to place their trade. To those skilled enough, such a feature offers a great advantage.
Please share all the comments you might have on these online trading platforms in the comment field below. Which is the best trading platform in New Zealand according to you? And would you say that the same platform is also best for beginners?