Broker comparison site CompareForexBrokers has recognised BlackBull Markets as the top forex broker in New Zealand for 2024. This accolade comes after a comprehensive analysis of all eight brokers regulated by the Financial Markets Authority (FMA) in New Zealand, marking the fifth consecutive year that CompareForexBrokers has conducted such a ranking.
“The criteria we judged the brokers on are their spreads, trading platform, customer service, and overall trading experience, including execution speeds,” CompareForexBrokers said on its website.
According to the platform, “BlackBull Markets stands out due to its top execution speeds, high leverage, and powerful trading tools.” Based on their tests, BlackBull Markets ranked highest for market and limit order executions, with an average speed between 100 and 50 ms.
The broker provides the maximum permitted leverage of 1:500. As for trading platforms, BlackBull Markets supports both MetaTrader 4 and MetaTrader 5. Additionally, it integrates with third-party trading tools such as TradingView and CTrader.
Following BlackBull Markets on the list is CMC Markets. CompareForexBrokers says “CMC Markets is recommended for New Zealand traders interested in creating a diversified portfolio with multiple financial instruments.”
IG Group is third on the list of NZ’s top brokers. The broker is said to be providing a “superior trading environment suitable for beginners and experienced traders.” As stated by CompareForexBrokers, IG Group was the first to introduce CFD trading globally and developed spread betting in the UK, establishing itself as one of the most experienced and reliable options available.
TMGM ranks fourth on the list, with CompareForexBrokers praising its tight spreads. The awards attribute these tight spreads to the broker’s global network of leading liquidity providers.
Plus500 ranks fifth, praised for its user-friendly, intuitive trading platform and favourable trading conditions, making it a strong option for beginner traders in New Zealand. It also offers an easy-to-use mobile app for both iOS and Android devices. However, the site notes that these platforms lack advanced technical analysis features.
RockGlobal is ranked sixth. According to the awards, it is the only broker in New Zealand that offers both Trader Workstation and MetaTrader 4 platforms, providing access to over 100 markets worldwide. However, CompareForexBrokers notes that RockGlobal has limited funding methods and imposes inactivity fees.
Axi, ranked seventh among brokers in New Zealand, is recognised for delivering an exceptional MetaTrader 4 experience. For those who favour the MT4 platform, Axi offers a variety of supported add-ons and integrations to enhance trading. ThinkMarkets is New Zealand’s eighth-ranked FMA-regulated broker. It provides a swap-free trading environment and supports both MetaTrader 4 and MetaTrader 5 platforms. It is also recommended to any New Zealand forex traders who are on the lookout for a halal trading account.
