Yeah it’s bizarre. Normally NZers can apply for anything that’s Australian-based - such as banks, brokers etc. It puts us in a difficult situation now as we’re such a small country there’s not many brokers. I would much prefer to go with one of the larger-scale Aussie brokers.
I’m going to give CMC a shot given that someone I know in the financial industry reckons they’ve changed a lot since all that negative feedback was placed. That being said, I’ve deposited far less than I normally would, just in case.
I don’t think there’s any point me enquiring with any other aussie brokers - they all seem to have the same answer given this new regulation.
Perhaps the only option is to immigrate to the land where anything that moves can kill you… What was that old saying? The 4 W’s? - Better Weather, better wages, better waves and better women?