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Brokers With NZD Accounts

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Edited By
James Barra
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Edited By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
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Fact Checked By
Michael MacKenzie
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Fact Checked By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
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Updated
Oct 4, 2024

An NZD trading account is denominated in New Zealand’s currency, making it more convenient and affordable for Kiwis to trade the financial markets. An NZD account also means you can hold your trading funds in a relatively stable currency managed by the Reserve Bank of New Zealand (RBNZ).

Discover the best brokers with NZD accounts, personally tested by our experts.

Best Brokers With NZD Accounts

Our tests show that these are the top 2 brokers that support NZD accounts:

Click a broker for details
  1. 1
    Dukascopy
    10% Equity Bonus
    Ratings
    3.5 / 5
    3.5 / 5
    3.8 / 5
    3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.6 / 5
    3.7 / 5
    $100
    0.01 Lots
    1:200
    FINMA, JFSA, FCMC
    CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options
    JForex, MT4, MT5
    Neteller, Wire Transfer, Mastercard, Skrill, Visa, Maestro, Credit Card, Debit Card, Apple Pay, Bitcoin Payments, Ethereum Payments
    USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN
    Go To Dukascopy
  2. 2
    Zacks Trade
    Ratings
    3.5 / 5
    3 / 5
    3 / 5
    3.5 / 5
    3.8 / 5
    3.5 / 5
    3.9 / 5
    1 / 5
    5 / 5
    3.7 / 5
    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF
    Go To Zacks Trade

Here is a summary of why we recommend these brokers:

  1. Dukascopy - Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
  2. Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

Brokers With NZD Accounts Comparison

Brokers With NZD Accounts Comparison
Broker NZD Account Minimum Deposit Markets Regulator
Dukascopy logo
✔ $100 CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options FINMA, JFSA, FCMC
Zacks Trade logo
✔ $2500 Stocks, ETFs, Cryptos, Options, Bonds FINRA

Dukascopy

"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."

Christian Harris, Reviewer

Dukascopy Quick Facts

Bonus Offer10% Equity Bonus
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options
RegulatorFINMA, JFSA, FCMC
PlatformsJForex, MT4, MT5
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:200
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN

Pros

  • Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction), and volume-based commissions that reward high-frequency traders.
  • Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
  • The proprietary JForex platform is highly advanced, offering tools for algorithmic trading, extensive charting, and access to deep liquidity for short-term traders.

Cons

  • Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
  • Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.
  • While JForex is feature-rich, it has a steep learning curve, making it less suitable for beginner traders who might prefer simpler platforms.
Visit Dukascopy
Dukascopy Review

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • 20+ account denominations
  • Customizable proprietary trading platform and mobile app
  • Comprehensive research and data

Cons

  • Withdrawal fees apply if removing funds more than once per month
  • No MT4 or MT5 platform integration
  • No forex, commodities or futures trading
Visit Zacks Trade
Zacks Trade Review

How Did We Choose The Best Brokers?

To identify the best NZD brokers, we:

  • Searched our database of 219 online brokers and trading platforms
  • Selected all those that offer accounts denominated in New Zealand dollars (NZD)
  • Ranked them based on their overall rating which considers 100+ data points and hands-on tests

What Is An NZD Account?

An NZD account is a trading account where your transactions and trades are handled in New Zealand dollars.

This offers more convenience for Kiwis looking to manage their accounts and view profit and loss statements in their home currency.

Below you can see where I opened an account in NZD at IC Markets:

Opening an NZD trading account at IC Markets

Do I Need An NZD Trading Account?

There are several reasons you may want to open an account in NZD:

  • If you live in New Zealand and you hold or save money in NZD, an NZD account will help to reduce conversion fees.
  • If you frequently trade local markets like stocks listed on the New Zealand Exchange (NZX), then funding your account in NZD is more cost-effective.
  • If you are an overseas trader looking to diversify your portfolio, the NZD is a good choice as it’s one of the most stable in the world.

How Can I Check If A Broker Offers An Account In New Zealand Dollars?

You can follow these steps which we took to ensure each of our recommended brokers offers an NZD account:

  1. Go to the broker’s website and navigate to the account types page
  2. Check that NZD is listed as a supported account currency
  3. Register for an account and select NZD as your base currency

Pros & Cons Of NZD Trading Accounts

Pros

  • NZD accounts can reduce currency conversion fees if you wish to trade NZD-based instruments, which is especially important for active traders.
  • The New Zealand currency is the 10th most traded in the world and one of the most stable, so holding your funds in it can protect you, to a degree, against fluctuations in currency values.
  • Brokers with NZD accounts often tailor their services to local traders by providing access to NZD currency pairs like USD/NZD, analysis on New Zealand markets, and holding a license with the New Zealand Financial Markets Authority (FMA).

Cons

  • NZD accounts are not as widely offered as USD, EUR or GBP accounts, so you may have fewer brokers to choose between, though there remain good options.
  • In recent years, the NZD has weakened due to interest rate hikes being halted by the RBNZ as reported by Forbes, making it a less attractive investment for traders.
  • Stocks on the New Zealand Exchange (NZX) are not widely offered, so you may have limited choice if you primarily want to trade local stocks.

FAQ

Which Is The Best Broker With An NZD Account?

See our list of the best brokers with NZD accounts to find the right broker for you. All have been rigorously examined by our experts.

How Much Does It Cost To Open A Trading Account Based In New Zealand Dollars?

The account opening deposit will depend on the broker, but this requirement does not usually exceed 250 USD (approximately 405 NZD) based on our tests.

That said, many beginner-friendly brokers require much less, including XM where you only need $5 to get started.

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