FP Markets in New Zealand Review
FP Markets is a well-known online Forex and CFD broker headquartered in Australia, offering trading access to multiple global markets. For traders in New Zealand, it’s worth assessing how FP Markets fits in—what it offers, how it’s regulated, and whether it’s a good choice for Kiwi traders.
Company Background
FP Markets was founded in 2005 in Sydney, Australia. The broker offers more than 10,000 tradable instruments across Forex, CFDs on stocks, indices, commodities, and cryptocurrencies. It also provides multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and integration with TradingView.
What It Offers to New Zealand Traders
Trading Conditions
FP Markets provides both “Standard” and “Raw” account types. Standard accounts have no separate commission as costs are included in the spread, while Raw accounts offer spreads from 0.0 pips plus a commission.
Leverage can reach up to 1:500, depending on the regulatory environment. The broker promotes low spreads, fast execution, and top-tier liquidity as its key strengths.
Products
- Forex: Over 70 currency pairs.
- CFDs: Shares, indices, commodities, bonds, and cryptocurrencies.
- Social trading: Copy-trading features allow traders to follow or mirror other traders’ strategies.
Regulation & New Zealand Considerations
FP Markets is regulated in multiple jurisdictions, including Australia under the Australian Securities and Investments Commission (ASIC).
However, when it comes to New Zealand, the broker is not regulated by the Financial Markets Authority (FMA). This means FP Markets may not be able to officially offer its services to New Zealand residents or process local payments directly.
Even though many global traders can access FP Markets, Kiwi traders should verify their eligibility and understand which entity will hold their account.
Pros & Cons for New Zealand Traders
Pros
- Strong track record: Over 15 years of operation and multiple industry awards.
- Competitive costs: Raw account spreads from 0.0 pips plus commission appeal to advanced traders.
- Wide range of platforms and instruments: Access to Forex, commodities, shares, indices, and more.
- Positive user feedback: FP Markets holds a strong reputation for customer service and trading conditions.
Cons & Risks
- Limited local regulation: New Zealand clients might not have FMA protection if trading through an offshore entity.
- Access limitations: Some reviews note FP Markets may not officially service New Zealand residents.
- Fees: Higher costs for certain stock CFDs.
- Risk exposure: Trading CFDs and Forex involves high risk and potential loss of capital.
What to Check Before Using FP Markets in New Zealand
- Eligibility: Confirm if you can open an account as a New Zealand resident and under which entity.
- Regulation: Ensure you understand what protection applies to your account.
- Account type & costs: Compare Standard vs Raw accounts, spreads, and commissions.
- Platform choice: Select between MT4, MT5, cTrader, or TradingView based on your trading style.
- Deposits & withdrawals: Check if FP Markets supports NZD transactions or local bank transfers.
- Tax implications: Understand how trading profits are taxed under New Zealand law.
- Customer reviews: Look for experiences specific to New Zealand clients.
FAQs About FP Markets in New Zealand
1. Is FP Markets regulated in New Zealand?
No, FP Markets is not regulated by the Financial Markets Authority (FMA) in New Zealand. It operates under regulation from the Australian Securities and Investments Commission (ASIC) and other international bodies.
2. Can New Zealand traders open an account with FP Markets?
Yes, New Zealand residents can open accounts, but they will likely do so under FP Markets’ offshore or Australian-regulated entity. Traders should confirm which entity they’re registered with and understand the level of protection offered.
3. What trading platforms does FP Markets offer?
FP Markets supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView, allowing traders to choose the platform that best suits their style and technical needs.
4. What instruments can I trade with FP Markets?
You can trade Forex, CFDs on stocks, indices, commodities, metals, bonds, and cryptocurrencies. The broker offers access to over 10,000 instruments across global markets.
5. What account types are available?
FP Markets offers two main account types:
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Standard Account: No commissions, with costs included in spreads.
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Raw Account: Spreads from 0.0 pips, plus a small commission per trade.
6. Does FP Markets offer leverage to New Zealand traders?
Yes, leverage is available—up to 1:500 depending on your account type and the entity under which you’re registered. Always ensure you understand how leverage works, as it increases both profit potential and risk.
7. Is FP Markets safe for New Zealand traders?
FP Markets is considered a reputable broker with solid regulation in Australia and a long track record in the industry. However, since it’s not regulated locally in New Zealand, traders should understand that they may not have FMA-backed protection.
8. What are the minimum deposit requirements?
The minimum deposit for both Standard and Raw accounts is typically around $100 AUD (or equivalent in other currencies).
9. Are there local deposit or withdrawal options for New Zealand clients?
Most transactions are processed through international bank transfers, credit/debit cards, or e-wallets. New Zealand traders should verify if NZD deposits are accepted or if currency conversion fees apply.
10. What alternatives exist for locally regulated brokers in New Zealand?
Traders who prefer local regulation may consider brokers licensed by the FMA. These firms are required to follow New Zealand’s investor protection and dispute resolution frameworks.
Final Thoughts
For New Zealand traders comfortable with Forex and CFD risks, FP Markets provides an impressive trading environment with tight spreads, fast execution, and diverse platforms. However, the lack of FMA regulation means Kiwi traders should proceed carefully and ensure they understand the implications of trading with an offshore broker.