The process of selecting a Forex broker in New Zealand can be very difficult. This is because there are so many Forex brokers around and they all claim to be the best. A trader needs to consider so many things before choosing a Forex broker. He needs to consider transaction fees, pip spreads, commissions, and so on. In this review, we will guide you on how to choose a Forex broker in New Zealand. We will show you the areas of strength and weakness of various brokers. This way, you can make informed decisions when you choose any of them.
The Best Forex trading apps in NZ
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Min. Deposit
NZ$ 150
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NZ$ 200
Before you start using any Forex app, you should find out if that app is fast or not. You also must find out if the app is easy to use and reliable. If you are new to Forex trading, then the Forex app you choose must offer helpful tips that can enable you to make trading decisions. The app should also be simplistic in design to ensure ease of navigation. This will make your Forex trading experience to be both profitable and interesting. You will find so many of such apps out there today and may even be confused about the right one to go for among them.
There are different types of Forex traders. And there are also different types of Forex apps. So, your personal preference is one of the main factors to determine the right one to go for.
CMC Forex app is among the best out there today. It enables the Forex trader to access the market from virtually any location. It is also an app you can easily personalize. It offers various trading tools, market information, and news links. The end-user can easily send and receive emails on the app also. The end-user can also benefit from the SMS support available on the app. The app will also give you access to a demo account to enable you to practice before you go live. Both beginners and professional traders can use the app conveniently.
FXTM Trader
This app is created for all categories of Forex traders. The app gives you access to the Forex market at all times. 24 hours of the day and 5 days of the week. You can also access a demo account for free. The app gives you access to so many trading tools also. The dashboard will give you access to all detailed information, including your profit, current open positions, and trading tools.
TD Ameritrade
You will have access to top-quality customer support here. It is simply among the best Forex apps in the world today. You can equally access the app via your tablet, Smartphone, and even smartwatch. The available trading platform is called thinkorswim and the trading platform is very powerful. The trader can access this app on his desktop computer also. You can personalize the app and it is highly intuitive.
You will enjoy using any of the apps we have discussed above since they are all designed for the convenience of the trader.
Some of the brokers we will review are:
- Just Forex: You il enjoy a 100% sign up bonus
- ForexTime: You will have access to a $10 bonus
- Com: You will enjoy a 10% bonus deposit
- XM: You will get $30
- RobotForex: It will give you a $30 bonus
- FBS: The site offers a $100 bonus.
FXTM
It remains one of the best among all the available Forex apps out there. You can also use this site from more than 150 countries. The trader can also access automated trading features in the app. As a result, the app can make trading decisions on your behalf. If you do not have the time to monitor the market at all times, the automated feature will work for you. The app offers various educational resources also.
Both beginners and professional traders can use it conveniently. The app can equally be used conveniently on both your Android and iOS devices. You can equally access over 250 trading instruments on this app. All the trading instruments are available on mobile devices and tablets also. You will not have to pay a dime to access the app. However, you will have to pay a commission when you open a trade on the app. You can use the app for both MT4 and MT5 platforms. The customer reviews are also impressive.
Features:
- You can access more than 250 instruments on this app. Some of the available instruments are silver, gold, indices, commodities, CFDs, and so on.
- The app enables cross-device trading. As a result, the trader can manage open positions on the mobile device and desktop or on two different devices at the same time.
- The app also provides MyFXTM so that the trader and manage his account easily. MyFXTM enables easy fund transfer, deposit, withdrawal, and account overview.
- The trader can access a free demo account on the app.
- The trader can also access a trading dashboard that is very easy to use. The trading app has a series of details like balance, margin, profit.
- The app enables you to open, close, and modify your open positions when you need to do that.
Pros:
- It is very easy to use
- The trader can also use a fingerprint to access the trading platform
- The fee paid by the traders are low
- Execution of trade is also very fast
- The mobile platform is all-in-one
Cons:
- It is not accessible to US residents
- High CFD fees
- Traders will also have to pay inactivity and withdrawal fees
AvaTrade Go App
Features:
- You can register an account directly on the app
- You can also make a deposit directly on the app
- You can easily monitor special trends on the app
- The app will give you access to real-time market quotes and price alerts
Pros:
- The transaction fees are highly competitive
- Withdrawal and deposit are free
- The setup is easy and quick
Cons:
- Technical analysis is difficult
- You can equally access CFDs, Forex, and Cryptos on the site
XM
Features:
- The app provides a series of tools for technical analysis
- The trader can access advanced trading features
- Both MT4 and MT5 platforms are accessible
Pros:
- The trader can access so many tools for news and research
- It supports both MT4 and MT5 trading platforms.
- The end-user can access so many financial instruments also
Cons:
- No hedging
- Some of the features are not available for free
- It can be difficult for a beginner to use
Alpari Mobile
Features:
- You can access social trading on this platform
- The trader can also have access to a micro account and free demo account
- Both professional traders and beginners can also the site
Pros:
- You can access a free demo account
- The process involved in opening an account is fast and easy
- You will only need a low minimum deposit to start trading
Cons:
- The educational resources are limited
- MT4 end users have complained about bugs
- There are also no resources tools
FP Markets: Iress Mobile
Features:
- The end-user can access company reports and news
- Order filtering can be achieved with just a single touch of the button
- You can filter orders without any hassle by date and status.
Pros:
- The customer service is special
- The transaction fees are also low
- The end-user will have access to great educational tools also
Cons:
- CFD trading performance of the app is poor
- You may even encounter challenges with the updated versions
GO Markets
Features:
- You can trade binary options on this platform 24/5
- You can also easily place buy or sell orders on the app
- The app can be accessed both on android and iPhone devices
Pros:
- Very fast trade execution
- Low transaction fee
- Low minimum deposit
Cons:
- The website looks buggy at times
- You can only trade binary options on a mobile device
IG Trading App
Features:
- You can access the direct market when you trade CFD
- You can easily keep track of your opened positions
- The charts are interactive and easy to access
ThinkTrader
Features:
- You can easily set price alert when you use the trading platform
- The platform can give you access to 12 timeframes
- You can equally access 100 technical indicators
Pros:
- The app is very easy to use; it is also fast and straightforward
- You can access it both on iOS and Android devices
- It comes with highly advanced tools
Cons:
- No provision for bonuses
- It comes with an irritating time wheel
- You can experience lag on some of the charts
Thinkorswim Mobile
Features:
- You can use real market data to practice your trading strategies
- You can also trade complex options, futures, Forex, and stock on the platform
- You can access live streaming on the site also
Pros:
- Professional traders will find it useful
- It is considered the best for live pricing
- You can trade stock on this app without paying a commission
Cons:
- Its appearance looks intimidating
- It can look intimating to Forex traders
TradeStation
Features
- The app allows the trader to analyze trades anywhere and anytime
- It will give you access to so many assets, including stocks, options, and futures
- The trader is free to pick any trading strategy on the site
Pros:
- You can personalize the customer support
- Easy-to-use app
- Access to so many educational tools
Cons:
- It is not user-friendly
OctaFX Trading App
Features:
- You can use it for managing your trading account
- You can deposit and withdraw via various methods
- You can get free fund for your demo account any time you need it
Pros:
- You will not be required to pay any commission
- Access to a fixed pip spread
- The interface is easy to use and looks great
Cons:
- Slow price indicator
- Wonderful contests available
- No support for US traders
XTrend App
Features:
- Very low minimum despotic of $10
- No need for any deposit fee
- Tight pip spread; it can even go below 1 pip
Pros:
- 100% secure transaction
- Traders can access Loyalty points
- Pip spreads can be lower than 1 pip
Cons:
- The withdrawal process is not easy
- Poor quality customer service
XTB xStation Mobile
Features:
- Many features are available, including trader’s calculator
- An economic calendar that providers information about macroeconomic events
- Access to over 10 indicators, various charts, and drawing tools, as well as, technical analysis tools.
Pros:
- Easy-to-use app
- Low pip spread
- You can register a new trading account via this app
Cons:
- Few indicators available
- Slow email support
NetDania Stock & Forex Trader
Features:
- You can trade more than 2,200 currency pairs on the platform
- Global overview access is also fast
- Access to real-time stock indices
Pros:
- Fast response by the app
- You do not need programming skills to use the app
- Great technical analysis tools
Cons:
- It features annoying ads
- Beginners do not find it easy to use
