New Zealand (NZ) Licensed Forex Brokers

I have created this website as when I wanted to open a trading account with a New Zealand based forex broker, there was no information where I could compare brokers to see who they are and whether they were a licensed broker etc. My research found many websites that offered comparisons but they were showing advertisements so I was skeptical to whether the information was accurate or was being altered due to advertisements being paid for? This site does not receive payment from advertisers and does not receive payment from you visiting it and clicking on links etc. 

New Zealand Derivatives Issuers License

In New Zealand if you offer products such as foreign exchange and/or contracts for difference on margin or rolling spot contracts, and these are offered to retail investors, you must be licensed by the Financial Markets Authority, registered on the Financial Services Provider Register and you must be a member of the Financial Dispute Resolution (FDR scheme), New Zealand. 

The license required to offer products to retail investors is called a ‘Derivatives Issuers License”. The benefit in dealing with a Licensed Derivatives Issuer is that it places quite strict obligations on the person holding the license. These obligations include:

• Minimum capital requirements
• Segregation of client money to that of the licensee
• Fair dealing provisions, including pricing and not being able to make false statements
• High level of systems, business continuity and staff requirements
• Ability to raise complaints with a dispute resolution scheme and ultimately to the FMA.
• Licensees are subject to external audits that look at Financial Statements, meeting license capital requirements and risk audits that relate amoung other things that check that client money is accounted for and has been segregated at all times.
• Professional Indemnity Insurance
  

For more information I suggest that you see the FMA’s website https://www.fma.govt.nz/investors/ways-to-invest/derivatives/ and Financial Dispute Resolution website https://fdrs.org.nz/

_{Sorted by incorporation date (as of August 2021)}