New ZealandHow to verify a licence
FMA publishes a public register of the firms it licenses. Search it for the broker's name or licence number before you deposit, and check that the entry's permissions cover the service you are being sold.
The regulator
About FMA
Tier 2
- Brokers on the record
- 29
- Compensation cap
- None
- Retail leverage cap
- 1:500
- Cost of a licence
- NZD 50,000–100,000
The Financial Markets Authority (FMA), Te Mana Tātai Hokohoko, is New Zealand's main financial markets regulator. It was established in 2011 as an Independent Crown Entity.
One thing worth being clear about: the FMA is not answerable for how the markets perform. Its job is that they are fair, efficient and transparent, so that investors, businesses and consumers can use them with confidence.
Its two aims
Protect investors and consumers, so people and businesses can take part on the basis of sound information and clear legal protection.
Build trust and stability, which means a market that supports growth, new entrants and competition, and that can be held to account.
What the FMA does
Licensing. It licenses the firms and individuals who offer financial products and services — brokers, advisers, auditors, custodians and KiwiSaver providers among them.
Supervision. It monitors financial institutions and industry practice against the law.
Enforcement. It acts on misconduct and fraud.
Guidance. It publishes what it expects of firms, so compliance is not guesswork.
Consumer information. It produces material on shares and investing for people who have had no reason to learn it before.
Risk monitoring. It tracks the risks building up in New Zealand's financial system.
It also works with the Reserve Bank of New Zealand, including on the settlement system the two of them regulate jointly.
The legislation it works under
The Financial Markets Authority Act 2011. The Financial Markets Conduct Act 2013. The Financial Markets Supervisors Act 2011. The KiwiSaver Act 2006. The Auditor Regulation Act 2011. The Financial Service Providers (Registration and Dispute Resolution) Act 2008. The Financial Market Infrastructures Act 2021. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009. And the Financial Markets Conduct of Institutions Amendment Act 2022.
Governance
The FMA is governed by a Board, established under the Crown Entities Act 2004, which sets its strategic direction.
On the record
- Established
- 2011
- Country
- New Zealand
- Oversight
- Government body
- Scope
- Regulates forex and CFD brokers
- Membership
- IOSCO and FATF member
- Transparency
- High
- Public register
- Published
- Website
- fma.govt.nz
- Phone
- 64 39622698
- Hotline
- 0800 434 566 00 64 3 962 2695
- questions@fma.govt.nz
- Online contact
- fma.govt.nz
- Related site
- fscl.org.nz
Protection check
What a licence from FMA protects
No compensation scheme is recorded for firms licensed by FMA; a dispute a firm will not settle can go to FSCL.
4 facts on record
- No compensation schemeNo mandatory insurance (but strict fund segregation)
- Negative balance protection
- Complaints routeFSCL
- Maximum leverage1:500
How to complain
A complaint that a firm licensed by FMA will not settle goes to FSCL. Complain to the firm in writing first and keep the reply.
- Hotline
- 0800 434 566 00 64 3 962 2695
Licensing terms
Getting licensed by FMA
A licence from FMA costs NZD 50,000–100,000 to obtain on the record and covers 6 instrument types.
NZD 50,000–100,000
- Licence types
- Derivatives Issuer Licence
- Business models allowed
- Retail Agency (STP); Market Maker (Principal); Provide Liquidity (PoP)
- Cost to obtain
- NZD 50000-100000
- Coverage
- New Zealand - Asia-Pacific - some global clients
- Not served
- USA - North Korea - Iran - other sanctioned countries
6 instruments regulated
- Forex
- Fund
- Options
- Derivatives
- Binary option
- CFD
Licensed brokers
Brokers licensed by FMA
29 brokers on the Wikilix record hold a licence from FMA; the 10 highest-scored are below, and the finder searches them all.
29 brokers
- Rank 1
IG
RegulatedBermuda · since 1974· IG International LimitedWikilix score 75.0 - Rank 2
Axi
RegulatedAustralia · since 2007· AxiTrader LLCWikilix score 57.0 - Rank 3
Plus500
RegulatedIsrael · since 2008· Plus500 LtdWikilix score 54.0 - Rank 4
ZERO MARKETS
RegulatedSaint Vincent and the Grenadines · since 2017· ZERO Markets LLCWikilix score 53.0 - Rank 5
CMC Markets
RegulatedSingapore · since 2006· CMC Markets Singapore Pte. LtdWikilix score 53.0 - Rank 6
COINEXX
RegulatedComoros · since 2017· COINEXX LTDWikilix score 52.0 - Rank 7
EMC
RegulatedAustralia · since 2022Wikilix score 52.0 - Rank 8
BLACKWELL GLOBAL
Suspicious CloneBahamas · since 2010· Blackwell Global Investments LimitedWikilix score 52.0 - Rank 9
PNB
RegulatedBurkina Faso · since 1916· Philippine National BankWikilix score 51.0 - Rank 10
CTRL INVESTMENTS
OffshoreNew Zealand · since 2010· CTRL InvestmentsWikilix score 51.0
About this information
The details on this page about Financial Markets Authority were compiled from the regulator’s own official documents, its website and other public sources, and are presented as neutral, factual guidance.
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