Forex trading platforms nz

Leveraged trading or trading on margin allows you take out a small stake in a much larger trade, with your broker typically making up the shortfall. If the exchange rate moves in your favour, you stand to profit off the full amount that was traded, not just your small stake. Of course, it works in the opposite direction as well, so if the exchange rate moves against you, you are liable for the losses incurred off the full value of the trade. These days, the trading platforms offered by forex brokers are relatively sophisticated and come with a range of features and tools designed to help traders get the most out of their trades.

Graham is a veteran investor and chooses to trade in forex as a CFD. There are several forex trading services that are available to New Zealand traders.

• key players in forex markets.
• om systems trading.
• forex ea robot dynamic trader v1.1!
• Forex Trading Finder™ – Forex trading comparison;
• axis bank prepaid forex card customer care!

These include:. Before deciding on the right trading platform for you, make sure to compare the fees and benefits of several providers.

Just like trading regular shares through an online broker or broking platform, you need to make yourself fully aware of the fees and charges that apply before you begin trading forex. The main costs you need to be aware of are:.

A currency pair is always structured in the same way, following a universally accepted ranking order and always showing the value of a base currency the first being traded against a quote the second currency. There are three types of currency pairs that you need to be aware of, these being the majors, minors and exotics. See our full guide on major, minor and exotic currency pairs. The major currency pairs are considered any market that features the US dollar.

New Zealand Forex Brokers List

The majors are the most frequently traded currency pairs and are therefore the most liquid forex markets to trade. As a forex trader, this liquidity means that the majors feature relatively stable prices and the lowest spreads — or brokerage costs — when taking a position in any of these currency pairs. The most widely traded minor currency pairs consist of pairs in which the individual currencies are also majors. The final type of currency pair is known as an exotic.

The exotics are essentially minors that feature currencies of emerging market economies. Keep in mind that the wide spreads mean you may not see your trade executed at the price you expect. Picking the right currency pairs to trade depends on your experience as a forex trader. Most forex trading platforms will typically allow you to apply for an account within minutes online. While the application process varies between providers, you will usually have to fill out an online application and then await a response from the provider to learn whether or not your application has been approved.

Just like with any other form of investment, there are several strategies you can consider when trading forex, ranging from the basic right through to quite complex approaches. One strategy traders can use is to perform technical analysis or fundamental analysis to try and accurately predict the future performance of currency pairs.

Another common strategy is known as the day trading strategy, and it is based on the simple premise that you do not hold any forex positions overnight. Because the longer you hold open a position the greater risk of you suffering a loss, traders can close all the positions they hold before the end of the trading day and therefore minimise risk. A third common strategy is support and resistance levels. This involves researching the past fluctuations of a currency and using them to predict future price movements.

The previous upper limit of a price is its resistance limit and the previous lower limit is its support limit. Just like any other type of investing, forex trading comes with a level of risk attached. This will help you see if you have what it takes to successfully trade forex. A pip point in percentage is generally the smallest movement an exchange rate can make. In most cases this refers to the 4th decimal place of a currency e. In some currency pairs, the pip can refer to the 2nd decimal place e. The most commonly traded currencies include the US dollar, the British pound, the euro, the Japanese yen, the Swiss franc, the Canadian dollar and the Australian dollar.

Ensure that you read the fine print of any promotional offer closely and also check out the features and fees that the platform offers. Trading forex is quite complex and features a large number of risks, so ensure that you do some research before trading forex. This is a conditional order that is designed to minimise your risk when trading. It allows you to arrange for a position to be automatically liquidated if it reaches a certain predetermined price. Forex trading is conducted between a global network of banks, institutions and individuals around the world. The value of currencies can be affected by everything from supply and demand to economic conditions, political conditions, interest rates, inflation and consumer confidence.

Many first-time traders are unaware that forex trading places them at risk of losing more than their initial investment. However, this can and often does occur. Belinda Punshon is Finder's corporate communications executive, and previously worked as a writer on home loans and property.

Good foreign exchange bots can simplify how you trade in foreign currencies and they can also work in maximising profits, but relying on them is not a good idea. Limit orders allow you to specify the exchange rate you want for an international money transfer. Interested in buying currency as an investment? Read our tips on being a forex trader, and find out about the strategies that investors use to realise a profit.

Read our review here.

IG trading offers tight spreads from 0. Click here to cancel reply. Optional, only if you want us to follow up with you. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. While we are independent, the offers that appear on this site are from companies from which finder. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site.

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Overview of Forex Trading Costs Using CFDs

Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Belinda Punshon. Tim Falk. Updated Mar 5, What changed? Learn more about how we fact check. Data updated regularly We update our data regularly, but information can change between updates.

BlackBull Markets Forex Trading. USD MetaTrader 4, MetaTrader 5.

Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment. Trade up to 64 currency pairs with a New Zealand registered and based provider. Go to site More Info. Plus Forex Trading. NZ CMC Markets offers leverage on major currency pairs of up to There is a high level of risk when trading at this level, so only experienced traders with a high-risk threshold should consider choosing the maximum leverage available. Maximum leverage ranges for other products with of indices, for treasuries, and for commodities.

You can view more leverage information on the CMC Markets review. Should you choose to trade with CMC, it may useful to note that this broker does have an office in New Zealand not all broker do at Level 25, Queen Street, Auckland which can be useful if you desire a broker with a local presence. IG is one of the largest retail fx broker worldwide marketing itself as an all-in-one trading solution provider.

They provide stockbroking, currency and CFDs trading services across a number of forex platforms.