Best Forex Trading Apps for New Zealand Traders 2024
Looking for the best mobile forex trading apps in New Zealand for 2024? Our expert guide breaks down the best forex brokers and their respective mobile apps, each packed with unique features to suit various trading styles. Rest assured, every broker we mention is regulated by the Financial Markets Authority (FMA), guaranteeing compliance with New Zealand’s local regulatory standards.
- 🏆 BlackBull Markets — Best Forex Trading Apps in NZ
- 💻 IG Group — Good Forex Broker for MetaTrader 4
- ☪️ ThinkMarkets — Mobile App with Copy Trading
- 💼 CMC Markets — Best Proprietary Mobile App
- 📈 Plus500 — Mobile Trading App for Beginners
For more information, read our in-depth guide to the best forex brokers in New Zealand for 2024.
1. BlackBull Markets — Best Forex Trading Apps in NZ
Established in 2014 in Auckland, BlackBull Markets is the best CFD broker for forex trading in New Zealand. The broker offers an array of trading platforms including MetaTrader 4, MetaTrader 5, cTrader, TradingView, BlackBull CopyTrader, and BlackBull Shares, catering to a broad spectrum of trading preferences and strategies.
BlackBull Markets Trading Apps
BlackBull Markets delivers a solid range of trading apps including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, each fully optimised for mobile devices. These apps retain the core functionalities of their desktop versions, such as advanced charting tools, economic calendars, account management features, and news feeds, ensuring traders are well-equipped to make informed decisions on the go.
The mobile versions of MetaTrader 4 and MetaTrader 5 offer complete technical analysis capabilities with customisable charting options and over 30 technical indicators. Traders can also use trading robots, known as Expert Advisors (EAs), for automated trading directly from their phones or tablets. Additionally, the cTrader app provides an intuitive user interface with advanced order types, level II pricing, and detachable charts for detailed analysis.
Social networking features are seamlessly integrated, particularly in cTrader, where traders can benefit from the cTrader Copy system, an update on traditional copy trading platforms. This allows users to replicate the strategies of other successful traders directly from their mobile devices, enhancing their trading strategies with peer insights.
Key features of BlackBull Markets apps:
- Customizable mobile apps
- iOS apps (Apple iPhones) and Android apps
- Demo accounts available to practise online trading risk free
- Inbuilt management tools like watchlists and notifications
- Technical analysis tools with different chart types, indicators, drawing tools, objects, and timeframes
- Fundamental analysis such as market news
- Educational tools like trading platform tutorials and webinars
- Fast trade execution and multiple liquidity providers allows for ECN trading conditions
Other Important Features
BlackBull Markets is designed to meet the needs of diverse trading strategies and experience levels through its ECN Standard, Prime, and Institutional accounts. These options provide competitive pricing, with the ECN Standard account offering no commission and spreads starting from 0.8 pips. In contrast, the ECN Prime and Institutional accounts offer tighter spreads starting from 0.1 pips plus a $3 commission per side for every 100k traded.
The broker also offers a TradingView Pro subscription, which enhances the trading experience with ad-free advanced charting capabilities and up to 20 server-side alerts for vigilant market monitoring. Additionally, traders have access to over 26,000 financial instruments, including forex, indices, ETFs, commodities, and cryptos. The educational resources and 24/7 customer support further aid traders in refining their trading skills and resolving issues promptly.
In terms of trust and regulation, BlackBull Markets ensures secure trading with strict regulation by the Financial Markets Authority (FMA) and the Financial Services Authority (FSA).
Verdict
BlackBull Markets offers some of the best mobile trading apps in New Zealand, featuring advanced functionality and seamless integration across MetaTrader 4, MetaTrader 5, and cTrader. These apps equip traders with sophisticated tools for technical analysis and strategy implementation on the go, making it a top choice for mobile forex trading.
2. IG Group — Good Forex Broker for MetaTrader 4
Founded in 1974, IG Group is the oldest retail forex broker globally. The broker provides a vast range of platforms, including MetaTrader 4 (MT4), ProRealTime, L2 Dealer, and its proprietary IG Platform, catering to a diverse global clientele.
IG Group Trading Apps
IG Group ensures that traders have continuous access to the markets via its versatile trading apps available on both tablet and mobile devices. The platforms offered include MetaTrader 4, the proprietary IG trading platform, L2 Dealer, and ProRealTime. These apps are available for iOS and Android devices, providing sophisticated functionality that mirrors the desktop experience. Features include full trading capabilities, advanced charting, real-time price alerts, and comprehensive market analysis tools.
While all platforms offer excellent trading tools, MetaTrader 4 (MT4) is particularly favoured for its user-friendly interface, advanced charting capabilities, automated trading via Expert Advisors (EAs), and extensive market analysis options, making it a preferred choice for both new and experienced traders looking for detailed technical analysis and trading automation.
Other Important Features
IG Group provides a variety of account types tailored to meet different trading needs and preferences. The broker offers the IG Trading Account, IG Professional Account, and IG Options Trading Account, among others, with competitive conditions.
Spreads start as low as 0.6 pips on major currency pairs like EUR/USD, and there is no minimum deposit requirement, allowing traders flexibility in funding their accounts. IG’s trading platforms support over 17,000 CFDs, including forex markets, equities, indices, and cryptocurrencies, making it one of the most extensive offerings in the industry.
The inclusion of a range of payment methods, award-winning customer support available 24/5, and regulation by top-tier authorities like the FCA, ASIC, and MAS further enhance the trading experience. Additionally, IG provides valuable educational resources and trading tools to assist traders at all levels of expertise.
Verdict
IG Group’s trading apps, especially MT4, provide a high-quality mobile trading experience with comprehensive features that satisfy both novice and advanced traders, reinforcing IG’s reputation as a top broker for MetaTrader 4 users.
3. ThinkMarkets — Mobile App with Copy Trading
Established in 2010 and based in London and Melbourne, ThinkMarkets is recognised for its strong offering as a Straight Through Processing (STP) broker. It provides access to a variety of trading platforms including MetaTrader 4, MetaTrader 5, and ThinkTrader, tailored to both new and seasoned traders.
ThinkMarkets Trading Apps
ThinkMarkets offers highly functional trading apps for both tablets and mobile devices, compatible with iOS and Android systems. These platforms include MetaTrader 4, MetaTrader 5, and ThinkTrader, each designed to provide traders with seamless market access, the ability to execute trades, and manage portfolios from anywhere at any time.
The apps ensure that all the essential desktop functionalities are available on mobile, including advanced charting tools, live price alerts, and comprehensive market analytics. A key feature of the online broker is ThinkTrader which offers integrated copy trading capabilities for traders interested in leveraging the expertise of others. This feature allows users to automatically copy the trades of selected traders, which is ideal for those looking to engage in trading strategies without extensive time investment or those new to trading who wish to learn from more experienced traders.
Other Important Features
ThinkMarkets offers a diverse range of account types, including the Standard Account for beginners and the ThinkZero Account for more experienced traders. These accounts are designed to cater to varying trading strategies and levels of trading experience, with the ThinkZero account featuring ECN-style tight spreads and a commission fee of $3.50 per side.
Financial instruments available through ThinkMarkets include forex, indices, equities, metals, energies, and cryptocurrencies, among others. There is no minimum deposit for Standard Accounts, while ThinkZero Accounts require at least $500 to start.
The broker supports multiple payment options for deposits and withdrawals, all free of transaction fees. Customer support is strong, provided 24/7 through phone, live chat, and email. Moreover, ThinkMarkets is regulated by several top-tier authorities such as ASIC and FCA, enhancing the trust and security for traders.
Verdict
ThinkMarkets’ trading apps, especially with their sophisticated copy trading feature via ThinkTrader, offer an intuitive and powerful toolset for mobile trading. This makes it an excellent choice for traders who value flexibility and the ability to tap into the knowledge of seasoned traders directly from their mobile device.
4. CMC Markets — Best Proprietary Mobile App
Established in 1989 and listed on the London Stock Exchange, CMC Markets is a major CFD provider based in the UK. It offers a diverse array of over 9,500 CFD products on platforms including MetaTrader 4 (MT4) and its proprietary Next Generation platform.
CMC Markets Trading Apps
CMC Markets offers trading apps for both its Next Generation platform and MetaTrader 4, available on iOS and Android devices. These apps ensure that the full functionality of their desktop counterparts is accessible on mobile, allowing traders to manage their accounts and execute trades seamlessly from their mobile devices.
The Next Generation app is particularly notable for mirroring the comprehensive features of the desktop version, including advanced charting, complex order types, and customisable modules. It offers a user-friendly interface enhanced with tools like a pattern recognition scanner and integrated news feed, making it highly suited for traders who require advanced functionality on the move.
The app also includes risk management features such as price alerts and stop-loss orders. Security features include fingerprint authentication on iOS, although this is not yet available on Android. The MT4 app also remains a strong choice for those who prefer traditional forex trading platforms, maintaining essential features like advanced charting and support for Expert Advisors for automated trading.
Other Important Features
CMC Markets stands out with its single, streamlined CFD Trading Account, which simplifies the process of accessing global markets. The broker offers competitive, commission-free spreads starting from 0.7 pips on popular forex pairs like EUR/USD and includes a Direct Market Access (DMA) account for ECN-style trading.
The available trading platforms, MT4 and the Next Generation platform, cater to various trading preferences with features like automated trading, advanced charting, and a pattern recognition scanner. With over 9,500 financial instruments including forex, indices, equities, commodities, and cryptocurrencies, traders have a vast selection at their fingertips. Additionally, there is no minimum deposit required to start trading, making it accessible to all levels of traders.
CMC Markets supports several payment methods for deposits and withdrawals, all free of fees. Customer support is available 24/5 via multiple channels, ensuring assistance is always at hand. The broker is regulated by major financial authorities such as ASIC and FCA, providing a secure and reliable trading environment.
Verdict
The Next Generation app from CMC Markets sets the standard for mobile trading with its comprehensive, user-friendly features that seamlessly integrate the depth of desktop trading into a mobile experience. This makes it an excellent choice for traders looking for powerful, on-the-go trading tools in a single app.
5. Plus500 — Mobile Trading App for Beginners
Founded in 2008 in Israel, Plus500 has grown into a globally recognised CFD provider. It offers an intuitive platform ideal for beginners, supported by a straightforward pricing structure. The broker facilitates trading on its proprietary Plus500 platform and does not offer MetaTrader 4 or other third-party platforms.
Plus500 Trading Apps
Plus500 provides comprehensive trading apps compatible with both iOS and Android devices, ensuring traders can access the market and manage trades anytime, anywhere. The proprietary Plus500 app mirrors the functionality of the desktop and web versions, offering an intuitive interface that includes full trading capabilities, charting, and analytical tools.
The app is specifically designed for ease of use, making it particularly suitable for beginners. It features a user-friendly interface that allows new traders to navigate the complexities of financial markets with ease. The app includes helpful trading tools such as risk management options, real-time alerts, and economic calendars, all integrated within a straightforward layout. Security measures are strong, with iOS versions offering fingerprint authentication to enhance safety, although this feature is still pending on Android devices.
Other Important Features
Plus500 simplifies the trading experience with a single account type, making it easier for new traders to get started without the complexity of multiple options. The broker offers fixed spreads starting from 0.8 pips, adding predictability to trading costs. Plus500’s platform supports a diverse range of over 2,000 financial instruments including forex, stocks, indices, cryptocurrencies, and commodities.
The minimum deposit requirement is set at an accessible $100, encouraging new traders to start with a relatively low financial commitment. Additionally, there are no fees on deposits or withdrawals, and multiple payment methods are supported, enhancing convenience. Customer support is available 24/7 through live chat, email, and phone, providing assistance in multiple languages. Plus500 is regulated in several major jurisdictions, ensuring a high level of security and compliance.
Verdict
The Plus500 mobile app is an excellent entry point for new traders, combining a simple interface with powerful trading tools. This app makes trading accessible for beginners, providing a safe, straightforward, and effective trading environment on mobile devices.
FAQs: Best Forex Brokers & Apps
What is the best forex trading app?
BlackBull Markets is the best forex trading app for New Zealand traders, offering a comprehensive range of trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, BlackBull CopyTrader, and BlackBull Shares. These platforms are designed to accommodate a broad spectrum of trading preferences and strategies, making BlackBull Markets highly versatile and appealing to both novice and experienced traders. Their mobile apps are fully optimised, maintaining all critical functionalities of the desktop versions, such as advanced charting tools, economic calendars, and account management features, to ensure traders can make informed decisions on the go.
Can I trade forex on my phone?
Yes, you can trade forex on your phone. Many forex brokers offer mobile trading apps that allow you to access trading platforms like MetaTrader 4, MetaTrader 5, and others directly from your smartphone. These apps are designed to provide a comprehensive trading experience, offering features such as real-time price quotes, charting tools, order execution, and account management. This makes it convenient to monitor markets, execute trades, and manage your trading account anytime and anywhere, as long as you have an internet connection.
Is forex trading legal in New Zealand?
Yes, forex trading is legal in New Zealand. It is regulated by the Financial Markets Authority (FMA), which ensures that all forex trading activities adhere to strict financial standards. Traders and brokers within New Zealand must comply with these regulations to operate legally, providing a secure and transparent trading environment for participants. This regulatory framework helps protect traders from fraud and other financial risks.
Can I use MetaTrader for technical analysis?
Yes, you can use MetaTrader for technical analysis. MetaTrader, particularly versions 4 and 5, are widely recognised for their sophisticated technical analysis capabilities. These platforms offer a variety of tools, including advanced charting functionality, a wide range of technical indicators, and the ability to create custom indicators and scripts. This makes MetaTrader ideal for traders looking to analyse market trends and make informed trading decisions.
How secure are mobile forex trading apps?
Mobile forex trading apps are generally secure, but their security levels can vary depending on the broker and the app’s design. Reputable brokers invest heavily in security measures, including data encryption, secure login processes, and fraud prevention systems. However, it’s essential for traders to use strong passwords, enable two-factor authentication where available, and regularly update their apps to protect their trading accounts from unauthorised access.
How do I start forex trading?
To start forex trading, you first need to open an account with a reputable brokerage that specialises in currency trading. Research different brokers to compare their fees, trading platforms, and the educational resources they offer. Once you select a broker, you’ll need to submit some personal information and financial details to open your account. After your account is set up and funded, you can begin trading by analysing currency pairs and executing trades through the broker’s trading platform.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. It does not cater to the specific needs of any retail investor. Trading in foreign exchange and derivatives carries a high level of risk due to volatility and is not suitable for all investors. This content is not intended for traders in Australia.
