Demo Account Guide

Forex Brokers in New Zealand

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New Zealand is a country with a strong economy and legal regulations. Opening a forex brokerage company in New Zealand requires large funds and clear legality. All forex brokers operating in this English common law user countries must be registered in Financial Markets Authority (FMA) regulator.

Interestingly, forex brokers that only provide trading services for residents outside of NZ don't require to obtain the FMA's permission. Regulation from the New Zealand Financial Service Providers Register (FSPR) is enough. Because of these conditions, many forex brokers make New Zealand their base of operations to expand into Asia-Pacific.


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Score Broker Country Regulation Min Deposit Max Leverage

If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.

Additional FAQ

Because of its nature, many brokers set some definitions and limitations for applying a scalping strategy. A forex broker may arrange terms such as the minimum pips for every stop loss and profit target, the minimum duration of a holding position, or other terms related to scalping. Although most brokers now allow their clients to apply the scalping method freely, some prohibit the strategy strictly.

Furthermore, some brokers may say that they allow scalping but then set some limitations for clients' orders that are suspected of practicing scalping. This usually results in brokers' intervention, resulting in clients' loss. In other words, some brokers may try to discourage scalping indirectly by using hidden strategies that put their clients at a disadvantage.

Continue Reading at The Secrets of Successful Scalping Strategy

Some brokers might claim that they are in the process of applying for a license or a license extension. But in reality, not all brokers are true to their words. Some of them don't actually apply for any license and only use those words to steal the clients' funds. Even if the license is indeed "in the process", the broker's still unregulated during that time.

Continue Reading at Forex Regulation Insights: Defining Your Broker's Status

  • The speed of execution: If the trades are executed quickly and without any, this is a good sign of the quality of the brokerage services.
  • The spreads: Lower spreads are generally better, meaning traders will pay less in trade fees.
  • The commissions: Lower commissions are generally better as traders will keep more profits
  • The platform: The platform should be easy to use and navigate and offer all the features traders need to trade effectively.
  • Customer support: If traders have any questions or problems during their demo trading, they should be able to get help from the broker's customer support team quickly and easily.

Continue Reading at How Long Should You Trade on Demo Account?

Another important point about day trading is the right broker because not all brokers are ideal for day trading due to the high volume of trades involved. In this case, traders have to carefully those who have platforms built to cater to the needs of day traders, advanced charting tools, and make it possible to place and modify complex orders in quick time.  

This is why brokers with high speed, low costs of executing trades, and reliability are more suited to the high volume trades that are constantly seen with day trading.

Continue Reading at Is IC Markets Good for Day Trading?


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