New Zealand brokers

Broker Discussion Forex Brokers
1

Hi,

This thread is intended for the sole purpose of disscussing NEW ZEALAND BROKERS and ideas that any traders from New Zealand or abroad may have. Please do not post comments about foreign brokers like FXCM or ORLANDA ETC as these can be found on a lot of other threads. Its hard to find good information about " kiwi " brokers like LATITUDE FX or WSD. If there is anyone out there trading with these particular two brokers or any other New Zealand based companys please post your thoughts to help others trying to decide whether to use there services or not.

**INFORMATION ABOUT NEW ZEALAND BROKERS ONLY PLEASE **

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Hi kiwi’s,

I first got into FX trading by opening an account with CMC Markets, a subsidiary of the UK firm. They were an early player in the online FX market and there platform has won numerous awards.

I opened an account with $1000.00 and they have really great networking/presentations/training (courses and internet). Its good to have real people there and a withdrawl is $1.50, relatively cheap to the overseas based platforms (OANDA is about $50AUD from memory).

However I stopped using them as they have the minimum 1 mini-lot, so each trade was min of US$10,000, using 1% margin, thats 10% of my equity on each trade. Too high for me and not a good option for training. Their demo account only lasts for 2 weeks and you need to download and install a new platform (1 each for demo and live account).

I currently use OANDA with an Aussie denomination and enjoy this platform. I have not looked into Latitude FX or other NZ FX platforms - but am keen to follow this thread and hear/learn more :wink:

Kind Regards,
stevefromnaki :slight_smile:

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Hi stevefromnaki,

Now I am looking for forex broker in New Zealand, what’s your current broker using?
Seem CMC broker has 1:500 leverage in New Zealand now.

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Hi Destiny1016,

How is tax policy? Is it possible that Australia tax me and New Zealand tax again?

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Tax policy depends on your nationality, USGFX don’t charge tax from you.

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thanks, I think I have to select broker in New Zealand. Because I try to immigrate to New Zealand through invest NZ$100000 in NZ, I have to select a NZ broker and invest enough money, then I can immigrate to NZ.

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I see. Good luck:)

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Check USGFX, seem quit good if located in Australia, compared with FXCM Australia I am using, Seem USGFX is a little bigger spread than FXCM.
USGFX is nice choice also for New Zealand, but I am not sure whether fit for immigration policy which invest NZ$100000 to NZ.

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Hello,

I believe FxPro and GlobalPrime are two offering to NZ clients. OMF is a great local option but not so good for high volumes.

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Hi Stevefromnaki,

Thanks for your suggestion, I will look into them.
Some days ago, I put VantageFx as my option.