Trading Forex in New Zealand has become increasingly popular in recent years, and has also come under closer regulatory scrutiny. Historically New Zealand as a trading country formed its Forex regulation back in 2011, read Wikipedia. Forex trading platforms in New Zealand are similar to usual foreign exchange trading in other countries like the UK and Cyprus. The trading rules are similar in every corner of the world, and the FX brokers are usually alike, too, with the forex market available 24 hours a day.
New Zealand Forex Regulation
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko (FMA) regulates New Zealand’s financial markets. FMA were established in 2011 as an Independent Crown Entity.
The FMA, established under the FMA Act 2011, regulates the capital markets and financial services in New Zealand. The FMA principally regulates only domestic firms. On the other hand, foreign firms can register as an FSP (Financial Service Provider). However, derivative issuers (including Forex brokers) need to be fully regulated by the FMA to be able to deal with the New Zealand residents and be considered regulated in New Zealand.
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Best Forex Brokers In New Zealand
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