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Best international online brokers in New Zealand in 2022
Interactive Brokers logo
Saxo Bank logo
eToro logo
tastyworks logo
CMC Markets logo

To help you to find the best international online brokers in New Zealand in 2022, we went ahead and did the research for you. We selected 101 quality online brokers, checked and compared basically every aspect of their services, with a special focus on fees, safety, trading platforms, as well as deposit and withdrawal options. Service providers had to prove their excellence in multiple areas to be considered among the best online brokers. And now, without further ado...

Top 5 picks for best international online brokers in New Zealand in 2022:

  1. Interactive Brokers is the best international online brokers in New Zealand in 2022. Low trading fees. Wide range of products. Many great research tools.
  2. Saxo Bank takes second place. Great trading platform. Outstanding research. Broad product portfolio.
  3. eToro rounds out the top three. Free stock and ETF trading. Seamless account opening. Social trading.
  4. tastyworks is numero quattro. Low trading fees. Great educational materials. Good research tools.
  5. CMC Markets just made it to the list in fifth place. Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
Best international online broker in New Zealand in 2022
Broker Info Score Minmum deposit
#1 Interactive Brokers International broker providing all asset classes 4.9 $0
#2 Saxo Bank Danish investment bank 4.8 $2,000
#3 eToro Global social trading broker 4.7 $200
#4 tastyworks US options and stockbroker 4.7 $0
#5 CMC Markets Global CFD broker 4.5 $0

What makes a good online broker? Surely, they need to provide great services in all areas, especially in terms of fair fees and safety. Depositing and withdrawing money should be either free or cheap and the process user-friendly. Great trading platforms, an easy account opening procedure and a wide range of products also weighed heavily in the scoring.

These features are easy to list, but hard to figure out. We are testing brokers based on nearly 500 criteria with real accounts and real money. You can find all the ranking criteria in our methodology.

For a tailored recommendation, check out our broker finder tool. Answer 4 simple questions and get a list of the most relevant brokers.

And now, let's see the best international online broker in New Zealand in 2022 one by one, starting with the winner, Interactive Brokers.

Interactive Brokers Logo

#1 Best international online brokers for citizens in New Zealand
Interactive Brokers

4.9

Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

Given that the broker has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. The fact that it has a long track record and publicly disclosed financials while being listed on a stock exchange all point to IB being a safe service provider.

Interactive Brokers recently launched a new app for global stock trading: read our review of IBKR GlobalTrader.

In addition, Interactive Brokers also has an app you can use for ESG investing: read our review of IMPACT by Interactive Brokers.

Recommended for traders looking for broad market access and a professional trading environment

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools Understaffed customer service

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#1 Interactive Brokers
Fees
4.5

Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
Pros Cons
Low trading fees None
Free stock and ETF trading for US clients
Low margin rates
Interactive Brokers fees
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
US stock $1.0 $10.0 $0.0 $0.0 -
UK stock $4.2 $11.2 $0.0 - -
EURUSD benchmark fee $10.4 $7.1 $7.8 - $8.8
US stock index options $6.5 $30.0 - $7.5 -
Mutual fund $15.0 $0.0 - - -
S&P 500 index CFD fee $2.8 $1.2 $1.5 - $1.4

All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.

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#1 Interactive Brokers
Mobile trading platform
3.5

The Interactive Brokers mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.
Pros Cons
Two-step (safer) login Minor technical glitches
Good variety of order types
Price alerts
Best international online brokers for in New Zealand in 2022 - Interactive Brokers trading platform

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#1 Interactive Brokers
Deposit and withdrawal
3.0

Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal free each month
Interactive Brokers withdrawal fee and options
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $5 $0 $0

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Saxo Bank Logo

#2 Best international online brokers for citizens in New Zealand
Saxo Bank

4.8

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK's Financial Conduct Authority (FCA).

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Being regulated by top-tier financial authorities, and having a long track record and a banking background, are all good signs for Saxo Bank's safety.

HEADS UP: Recent issues with account opening - Saxo Bank seems to have a delay in sending you a crucial URL to start your account opening. For more info, see Saxo Bank account opening issues in the review's Account opening chapter. If you'd like to open an account regardless, click here to read about Saxo Bank alternatives.

Recommended for investors and traders looking for a great trading platform and solid research

Pros Cons
Great trading platform High bond, options and futures fees
Outstanding research High minimum deposit
Broad product portfolio Lacks live chat and 24/7 availability

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#2 Saxo Bank
Fees
3.3

Saxo Bank has overall average trading and non-trading fees, but the structure is quite mixed, with great differences between the fees for various asset classes.
Pros Cons
Low forex fees Inactivity fee
Low fund fees Custody fee
No withdrawal fee High fees for options and futures
Saxo Bank fees
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
US stock $1.0 $10.0 $0.0 $0.0 -
UK stock $4.2 $11.2 $0.0 - -
EURUSD benchmark fee $10.4 $7.1 $7.8 - $8.8
US stock index options $6.5 $30.0 - $7.5 -
Mutual fund $15.0 $0.0 - - -
S&P 500 index CFD fee $2.8 $1.2 $1.5 - $1.4

All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.

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#2 Saxo Bank
Mobile trading platform
5.0

Saxo Bank's user-friendly mobile app has the same look and very similar functionalities as the web platform.
Pros Cons
User-friendly None
Two-step (safer) login
Good search function
Best international online brokers for in New Zealand in 2022 - Saxo Bank trading platform

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#2 Saxo Bank
Deposit and withdrawal
4.8

Saxo Bank provides multiple deposit and withdrawal options free of charge, on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets not available
Free withdrawal
No deposit fee
Saxo Bank withdrawal fee and options
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $5 $0 $0

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eToro Logo

#3 Best international online brokers for citizens in New Zealand
eToro

4.7

eToro is a well-known Israeli fintech company and a social trading broker, established in 2007.

Check out our eToro review tailored to the needs of beginner investors and traders.

eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC)-regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its website and does not have a bank parent.

Being regulated by the top-tier FCA and ASIC is a good sign for eToro's safety.

HEADS UP: Minimum deposit based on residency and account activation - Be sure to check the minimum deposit required to activate your account. After uploading your documents, a deposit is also needed to be available to trade and it would be based on your residency, ranging from $10-$10,000. More details are available in the eToro review’s Account opening section.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero commission stock trading

Pros Cons
Free stock and ETF trading High non-trading fees
Seamless account opening Only one account base currency
Social trading Customer support should be improved

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Your capital is at risk

#3 eToro
Fees
4.3

eToro offers free stock and ETF trading, while forex and CFD fees are low. On the negative side, non-trading fees are high, including a $5 withdrawal fee.
Pros Cons
Low trading fees Inactivity fee
Free stock and ETF trading $5 withdrawal fee
Low forex and CFD fees
eToro fees
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
US stock $1.0 $10.0 $0.0 $0.0 -
UK stock $4.2 $11.2 $0.0 - -
EURUSD benchmark fee $10.4 $7.1 $7.8 - $8.8
US stock index options $6.5 $30.0 - $7.5 -
Mutual fund $15.0 $0.0 - - -
S&P 500 index CFD fee $2.8 $1.2 $1.5 - $1.4

All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.

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Your capital is at risk

#3 eToro
Mobile trading platform
4.7

eToro's mobile platform is well-designed and intuitive but lacks biometric authentication.
Pros Cons
User-friendly No Touch/Face ID login
Two-step (safer) login
Good search function
Best international online brokers for in New Zealand in 2022 - eToro trading platform

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Your capital is at risk

#3 eToro
Deposit and withdrawal
3.9

Depositing money is easy, with a lot of available options, although there is a $5 withdrawal fee. As only USD accounts are available, you may pay a high conversion fee if you deposit or withdraw in another currency, like EUR or GBP.
Pros Cons
Credit/Debit card available Only one account base currency
User-friendly $5 withdrawal fee
Conversion fee for non-USD deposits
eToro withdrawal fee and options
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $5 $0 $0

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Your capital is at risk

tastyworks Logo

#4 Best international online brokers for citizens in New Zealand
tastyworks

4.7

tastyworks is a young, up-and-coming US broker focusing on options trading. It is regulated by the top-tier Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Australian Securities and Investments Commission (ASIC) for Australian clients.

The people behind tastyworks are the same experts who built the thinkorswim trading platform, now operated by TD Ameritrade. tastyworks is privately owned; it was established in 2017 and is headquartered in Chicago.

Recommended for options and futures traders focusing on us markets

Pros Cons
Low trading fees Limited product selection
Great educational materials Few deposit and withdrawal options
Good research tools No demo account

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#4 tastyworks
Fees
4.3

tastyworks has low trading fees and there is no inactivity fee. On the other hand, you have to pay a high withdrawal fee for wire transfers and margin rates are quite high.
Pros Cons
No inactivity fee High margin rates for stock trading
Free stock trading Withdrawal fee for bank (wire) transfers
Low options fees
tastyworks fees
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
US stock $1.0 $10.0 $0.0 $0.0 -
UK stock $4.2 $11.2 $0.0 - -
EURUSD benchmark fee $10.4 $7.1 $7.8 - $8.8
US stock index options $6.5 $30.0 - $7.5 -
Mutual fund $15.0 $0.0 - - -
S&P 500 index CFD fee $2.8 $1.2 $1.5 - $1.4

All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.

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#4 tastyworks
Mobile trading platform
4.2

tastyworks's mobile platform is very similar to its web platform. It is well organized but feels complicated, and it also lacks price alerts.
Pros Cons
User-friendly No price alerts
Touch/Face ID login
Order confirmation
Best international online brokers for in New Zealand in 2022 - tastyworks trading platform

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#4 tastyworks
Deposit and withdrawal
1.9

tastyworks's deposit and withdrawal functions are easy to use and there's no deposit fee, but you can use only bank transfer, and withdrawals can be expensive especially for non-US clients.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly High fee for wire withdrawals
Free ACH withdrawals in the US
tastyworks withdrawal fee and options
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $5 $0 $0

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CMC Markets Logo

#5 Best international online brokers for citizens in New Zealand
CMC Markets

4.5

CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.

Having a long track record, being listed on a stock exchange and being regulated by top-tier authorities are great signs for CMC Markets' reliability.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for an advanced trading platform with many research tools

Pros Cons
Low forex fees High stock CFD fees
Great web and mobile platforms Only CFDs are available
Advanced research and educational tools Customer support only 24/5

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69% of retail CFD accounts lose money

#5 CMC Markets
Fees
3.6

CMC Markets has competitive forex and stock index CFD fees, and no fee is charged for deposits and most withdrawals. However, stock CFD fees are high.
Pros Cons
Low forex fees High stock CFD fees
No withdrawal fee
CMC Markets fees
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
US stock $1.0 $10.0 $0.0 $0.0 -
UK stock $4.2 $11.2 $0.0 - -
EURUSD benchmark fee $10.4 $7.1 $7.8 - $8.8
US stock index options $6.5 $30.0 - $7.5 -
Mutual fund $15.0 $0.0 - - -
S&P 500 index CFD fee $2.8 $1.2 $1.5 - $1.4

All commissions, spreads and financing rates (if applicable) for opening a position, holding for a week, and closing.

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69% of retail CFD accounts lose money

#5 CMC Markets
Mobile trading platform
5.0

The CMC Markets app shares the strengths of the web platform: a modern design with a strong order panel and search functions as well as safe two-step login.
Pros Cons
User-friendly None
Good search function
Good variety of order types
Best international online brokers for in New Zealand in 2022 - CMC Markets trading platform

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69% of retail CFD accounts lose money

#5 CMC Markets
Deposit and withdrawal
4.8

You can use multiple deposit/withdrawal options and CFD account base currencies. Withdrawals are mostly free, except for same-day or international bank withdrawals.
Pros Cons
Credit/Debit card available £15 fee for international bank transfers
No deposit fee
Several account base currencies
CMC Markets withdrawal fee and options
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No Yes No Yes
Electronic wallets No No Yes No Yes
Withdrawal fee $0 $0 $5 $0 $0

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69% of retail CFD accounts lose money

Best international online brokers for in New Zealand in 2022
What makes a good online broker

Now that you know the top 5, you probably want to know how we came up with this list. Let's go through a few points quickly.

Are these brokers reliable?

Absolutely. You can be sure none of them is a scam. They are all regulated by at least one top-tier regulator.

How did BrokerChooser pick the best online brokers?

At BrokerChooser, we test online brokers based on more than 500 criteria, with real accounts and real money. We don't want to overwhelm you, so we will list only the top 5 criteria.

The 5 most important criteria for best international online brokers in 2022
1. Fees Trading fees for a given stock trade can be 50 times higher at one online broker compared to another. The brokers listed here all have low fees.
2. Deposit and withdrawal At some online brokers, funding and withdrawing funds can take much longer and be much more expensive than at others.
3. Trading platform A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
4. Account opening Some online brokers require a minimum deposit to start investing while others don't ask for a fix first-time deposit. Check these requirements before opening an account.
5. Markets and products Want to invest in Japanese stocks or trade Bitcoin? They are not be available at each broker. We selected brokers with a wide range of products so you can trade many asset types.

Best international online brokers for in New Zealand in 2022
Bottom line

These were the details, now let's zoom out. Here are the best international online brokers in 2022 for residents in New Zealand:

Best international online brokers for residents in New Zealand
Interactive Brokers Saxo Bank eToro tastyworks CMC Markets
Overall score 4.9 4.8 4.7 4.7 4.5
Fees score 4.5 stars 3.3 stars 4.3 stars 4.3 stars 3.6 stars
Mobile platform score 3.5 stars 5.0 stars 4.7 stars 4.2 stars 5.0 stars
Deposit and withdrawal score 3.0 stars 4.8 stars 3.9 stars 1.9 stars 4.8 stars
Account opening score 3.2 stars 2.0 stars 5.0 stars 5.0 stars 4.2 stars
Markets and products score 5.0 stars 5.0 stars 4.3 stars 3.1 stars 2.6 stars
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69% of retail CFD accounts lose money

Interactive Brokers is our winner, the best international online broker in New Zealand in 2022. Low trading fees. Wide range of products. Many great research tools.

Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country, it will show only the brokers that are relevant to you. Want more details? Compare brokers with the help of this detailed comparison table.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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