FXTM New Zealand Review 2026
Forex Trading Risk — New Zealand Traders
FXTM — Most Forex brokers reviewed on this site are offshore platforms not regulated by the FMA. Trading Forex through offshore brokers from New Zealand carries financial risk (you can lose your capital) and counterparty risk with zero local FMA protection. Retail Forex trading on international brokers should be done only after fully evaluating your personal risk profile. Consult a financial adviser before depositing funds.
Sajid's Hub Note: Trading forex in New Zealand involves serious counterparty risks. Before depositing any real funds, make sure to read our central Forex Trading New Zealand Hub Guide and check the legal realities in our Is Forex Legal in New Zealand? regulatory breakdown.
Overview of FXTM for Kiwi Traders
FXTM (ForexTime) was launched in 2011 by one of the co-founders of Alpari. They have built a globally recognized brand focused on retail education and competitive ECN execution. They are famous for their 'Advantage' account, which is widely considered one of the best raw spread accounts in the industry. Let's see how their fee structure and platform layout suit Kiwi traders.
Regulation & Security: Is FXTM Safe?
FXTM is regulated by the FCA in the UK, CySEC in Cyprus, and the FSC in Mauritius. New Zealand clients are onboarded through Exinity Capital East Africa or Exinity Limited (Mauritius), meaning accounts are held offshore. While Mauritius offers basic licensing, the FCA and CySEC backing of the parent group ensures the broker maintains institutional operational standards, even if Kiwi accounts lack FMA coverage.
Spreads, Commissions, & Trading Fees
FXTM fees are split by account. The Micro account is commission-free but has wide spreads (from 1.5 pips). The Advantage account is excellent, offering raw spreads from 0.0 pips with a low commission that varies based on trading volume, averaging USD $4.00 round turn. However, watch out for the $5/month inactivity fee after 6 months and wire transfer withdrawal fees.
NZD Deposits & Withdrawal Friction
Deposits are supported via credit card, bank wire, Neteller, Skrill, and crypto. There is no POLi payment support. NZD is not natively supported for direct local bank clearing, so expect conversion charges when funding from a New Zealand bank account. Withdrawals are processed within 24 hours but bank wires incur a $30 charge.
Platforms & Execution Speeds
FXTM supports both MT4 and MT5, including their custom mobile app. Their MT5 execution is optimized for low latency, making it highly suitable for active scalping. The broker also provides comprehensive market analytics and a massive educational section, which is excellent for beginner traders.
Sajid's Verdict on FXTM
FXTM's Advantage account offers some of the best raw pricing in the market. However, their Micro account is expensive, and the platform charges inactivity fees and wire withdrawal fees. Lack of native NZD local banking is a drawback.
FXTM New Zealand FAQs
1. What is the minimum deposit for the Advantage account?
The Advantage account requires a $500 minimum deposit, while the Micro account requires $10.
2. Does FXTM charge inactivity fees?
Yes, FXTM charges a $5 monthly fee after 6 months of inactivity.
3. Is FXTM regulated in New Zealand?
No, FXTM is an offshore broker licensed by FSC Mauritius for Kiwi clients.
4. Are there withdrawal fees?
Yes, international bank wire withdrawals incur a $30 fee.
5. What platforms are supported?
FXTM supports MetaTrader 4 and MetaTrader 5.
6. Can I trade in NZD?
No, FXTM accounts are typically held in USD, EUR, or GBP.
Rating Breakdown
Pros
- FCA and CySEC regulatory backing
- Excellent Advantage account with raw spreads and low commission
- Extensive educational content and trader guides
- Fast deposit options
Cons
- Advantage account requires a high $500 minimum deposit
- Predatory inactivity fees and withdrawal fees on bank wires
- No local New Zealand payment support
Fees & Account Details
| Minimum Deposit | $10 (Micro) / $500 (Advantage) |
| EUR/USD Spread | 1.5 pips (Micro) / 0.1 pips (Advantage) |
| Commission | None (Micro) / $4.00 round turn per lot (Advantage) |
| Withdrawal Time | 1-2 business days |
| Inactivity Fee | $5/month after 6 months inactive |
| Platforms | MT4, MT5 |
| Regulation | FCA, CySEC, FSC |
FXTM for New Zealand Traders
| POLi Payments Support | ✗ No |
| NZD Account Deposits | ✗ No |
| Local NZ Bank Transfer | ✗ No |
| English Support | ✓ Yes |
| NZST/NZDT Support Hours | ✗ No |
| Accepts New Zealand Clients | ✓ Yes |
| FMA Regulated | ✗ No |
| Offshore Only | ✓ Yes |
Sajid
Senior Retail Trader & NZ Market Analyst
Trading since 2012
Last updated
June 2026
New Zealand-based retail Forex and binary options trader since 2012. Cynical, battle-tested, and focused on risk preservation.
Forex Trading Risk — New Zealand Traders
FXTM — Most Forex brokers reviewed on this site are offshore platforms not regulated by the FMA. Trading Forex through offshore brokers from New Zealand carries financial risk (you can lose your capital) and counterparty risk with zero local FMA protection. Retail Forex trading on international brokers should be done only after fully evaluating your personal risk profile. Consult a financial adviser before depositing funds.