Best Forex Brokers in New Zealand 2020

Looking for the best UK forex broker for 2020? You are in the right place! There are a large variety of Forex brokers available to today’s UK Forex trader. Forex trading is always evolving with new FX brokers emerging all the time, making it difficult for both the UK and global forex trader to stay up to date. The 6 best forex brokers in New Zealand in 2020 are:

  1. Plus500 Forex Broker
  2. FXCM Forex Broker
  3. easyMarkets Forex Broker
  4. Moneta Markets Forex Broker
  5. VantageFX Forex Broker
  6. ATFX Forex Broker

However, the best Forex broker for one trader may not be the best broker for another. It depends on your trading style, what you want to trade and your support needs. Some Forex broker offerings are general, whilst some aspects might appeal to a trader’s individual style and needs.

Choose a Forex Broker

Forex broker regulation, however, is very important for any trader when choosing a broker, since one of the key features in the choice of broker is how safe your investment will be. The best forex brokers in the UK are generally regulated in different countries, by different regulators. Read this article for a definition of the different European Financial Regulators.

On this page we review various forex brokers based on regulation, usability, platforms, minimum deposit, spreads, customer support and other criteria. Start by browsing our top list of recommended and trust worthy brokers below and continue by reading the individual reviews of each broker on the respective review pages (that are linked from the top list). All forex brokers below accept UK traders and also traders from a number of different countries.

Broker Pros Features  
Founded: 2008 Reg: Plus500...
HQ: Israel...
4.7/5
94/100

- Advanced risk management tools
- 24/7 online support.
- 2000+ instruments.
- 30+ languages.
- All devices.
- 0 commissions.
- Tight spreads.

Min. Deposit: $100
Pairs Offered: 70+
Leverage: 1:30
Withdrawal Process Time: 1-3 Business Days
Trust Score: 94/100
Founded: Reg: FCA, AS...
HQ: UK...
4.8/5
95/100

- Enhanced Execution and quality pricing.
- Award-winning trading platform – Trading Station Web/Desktop/Mobile
- Free Access to Exclusive Trading Tools and Services: Trading Signals, Trading Analytics and more
- More than 20 Years of experience in Online Trading Services - Leading Provider

Min. Deposit: £300, $50 For ZA and AU
Pairs Offered: 50+
Leverage: 1:30 (LTD), Up to 400:1 FX and 200:1 CFD (ZA/AU/MARKETS)
Withdrawal Process Time: Depends on Credit Card Issuer. Bank Wire two business days
Trust Score: 95/100
Founded: 2001 Reg: ASIC, C...
HQ: Cyprus...
4.6/5
91/100

- 24/5 Shares Trading
- 0% Commission
- 300 plus trading instruments.
- Deal cancellation feature.
- Fixed spreads.

Min. Deposit: $100
Pairs Offered: 200+
Leverage: Up to 1:30
Withdrawal Process Time: 1 day
Trust Score: 91/100
Founded: 2011 Reg: FCA, Cy...
HQ: Cyprus...
4.6/5
91/100

- Well Regulated.
- PAMM accounts.
- Tight spreads.
- Quick withdrawals.
- Low min. deposit.

Min. Deposit: $5
Leverage: Up to 1:30 for EU (unless pro) / Up to 1:1000 for non EU
Withdrawal Process Time: Same business day
Trust Score: 91/100
Founded: 2009 Reg: CIMA, A...
HQ: Cayman ...
4.6/5
91/100

- Start trading live with just $200 minimum deposit.
- Powerful WebTrader and AppTrader platforms.
- Start trading live in just minutes.
- Trading tools and educational resources.
- Wide range of Share CFDs offered.

Min. Deposit: $200
Pairs Offered: Majors, Minors, Exotics
Leverage: 500:1
Withdrawal Process Time: Within 12 hours
Trust Score: 91/100
Founded: 2009 Reg: ASIC, C...
HQ: Sydney ...
4.6/5
91/100

- 50% Deposit Bonus
- 180+ Tradable Instruments
- Up to 500:1 Leverage
- $200 minimum deposits
- 15 Trading Platforms
- 50 US Share CFDs and 50 Hong Kong Share CFDs available to trade from MT4/MT5

Min. Deposit: $200
Pairs Offered: 180+
Leverage: Up to 500:1
Withdrawal Process Time: Within 1-2 Business Days
Trust Score: 91/100
Founded: 2014 Reg: FMA, FS...
HQ: New Zea...
4.5/5
90/100

- 1:500 leverage
- Multi award-winning New Zealand broker
- Institutional-grade spreads from 0.0 pips

Min. Deposit: $200
Pairs Offered: 300+
Leverage: 1:500
Withdrawal Process Time: Within 24hrs
Trust Score: 90/100

Top 10 Tips for Picking an FX Broker in UK

Here we look at ten different factors that we believe are of significant importance when you consider choosing a Forex Broker, whether you are a beginner or advanced trader. The significance of each will differ depending on your needs, which in turn will depend on your trading style, your knowledge level and your type of trading.

1. Regulation and how safe is my money?

You wouldn’t put a large amount of your savings in a bank account if you did not know that the bank was secure and regulated would you? So similarly why would you deposit with an FX Broker unless you were confident your funds and profits are safe?
In the UK, this would mean looking for a broker that is regulated by the financial conduct authority (FCA). In the USA, the equivalent would be a broker regulated by the National Futures Association (NFA) and/or the Commodity Futures Trading Commission (CFTC).
Opening an account with a broker regulated by any of the of the above should allow for protection if you as a depositor/ trader have an issue or grievance with the broker. Check in the top list above to see which forex brokers are regulated in UK by the FCA.

2. Spreads and/ or Commission

Brokers do not provide their services for nothing, so they charge either commission per trade or more likely by the spread between the bid and offer prices. The wider the spread, effectively the more the trader has to pay to get into and out of each trade. So the narrower the spread, effectively the better off for the trader. Sometimes brokers offer fixed spreads, but often the spread will be variable depending on the volatility of the market.

3. Withdrawals and deposits

Most FX Brokers today offer very low requirements to open an account (from as little as £50). Brokers have differing policies with regard to depositing, funding and withdrawals. Are you able to fund the account from a bank account via wire transfer, via credit card, via PayPal? When withdrawing, is this done via wire transfer, back to your bank account or credit card? Are there any withdrawal fees? Any initial deposit requirements?

4. Rollover interest (credit/ debit)

Some brokers charge a debit (or give a credit) for daily interest. This would be a consideration for any traders thinking of holding open positions over night.

5. Margin and Leverage

Many FX Trading accounts are based on the concept of margin and leverage. Leverage is basically the ability to increase the possible return on an investment or trade. A margin account allows the trader to use leverage by trading larger amounts than deposited in their account. This is because only the potential short term losses on the accounts need to be covered, not the full amount of the underlying asset. How much leverage any forex broker offers and the margin requirements may be a consideration when opening an account with a particular forex broker.

6. Types of forex accounts

There are different types of FX trading accounts which include more traditional cash exchange accounts, spread betting type accounts or CFDs (Contracts for Difference). Here you can find a list of CFD brokers in UK. The choice of which account to open will depend on your very specific needs and potentially even depend on your tax liabilities.

7. What markets can you trade?

All FX brokers in UK offer trading in the major currency pairs, including EURUSD, USDJPY, GBPUSD etc. Most also offer currency cross rates, ability to trade a large selection of currency pairs against each other.
In addition, many brokers offer the opportunity to trade other financial markets and assets. These would include equity indices, government bond markets and commodities (such as oil, gold and copper).

8. Trading platforms supported by the broker

Practically all brokers offer a trading platform, whereby the trader can access the various markets available to trade. Some brokers provide their own developed trading platforms, whilst others suggest downloading free platforms offered by third-party providers. There are many different factors to consider when looking at differing trading platforms including; ease of use, accessibility, trading tools on offer, charting packages, mobile/ tablet access etc.

9. Customer support

Many markets are now open 24 hours a day, five days during the week. So a strong customer support service would be open at all times during this time. Also, the speed of access to a live individual rather than an automated service should certainly be considered. Inevitably, when calling customer service it is usually with an issue, which as a trader you will likely want resolved as soon as possible.

10. Demo account available?

Most, but not all, Forex Brokers offer demo trading accounts to practice on. A demo account allows you to test the trading platform and evaluate some of the above-mentioned factors. All forex brokers for UK in the top list we provide above will offer demo accounts to new traders.

In the top list above you will find links to our reviews of the best forex brokers for UK traders. In these reviews we’ve covered most of these ten tips to make your choice of broker as easy as possible.

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