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Best NDD (No Dealing Desk) Forex Brokers in New Zealand
Last updated October 9, 2026
The top regulated brokers offering NDD (No Dealing Desk) accounts to New Zealand traders — compared on spreads, fees, regulators, and minimum deposit.
How We Ranked
Rankings blend trust, pricing, and platform quality. Risk warning: CFDs carry high risk.
Regulated brokersLow spreadsFast withdrawals
Written by
BrokerAnalysis Research Desk
Fact Checked by
BrokerAnalysis Editorial Team
Top Shortlist for New Zealand
Full ComparisonPersonalized broker matching
Need a faster shortlist than reading every New Zealand page?
Use the guided matching flow to narrow your next broker by country, budget, and trading platform before you compare the full table.
Last reviewed:
•By:BrokerAnalysis Research Desk
•Fact-checked by:BrokerAnalysis Editorial Team
Our 2 top picks for NDD (No Dealing Desk) in New Zealand
We stand behind these two. Everything below is a fuller comparison and lower-weight alternatives.
#1 · Best for NDD (No Dealing Desk) in New Zealand
FP Markets
Offers NDD (No Dealing Desk)Min. deposit $100
- Offers NDD (No Dealing Desk)
- Regulated: ASIC (Australia), CySEC (Cyprus), SVG FSA
- Minimum deposit $100
ASIC (Australia), CySEC (Cyprus), SVG FSA
#2 · Best alternative
PU Prime
Offers NDD (No Dealing Desk)Min. deposit $20
- Offers NDD (No Dealing Desk)
- Regulated: FSCA (South Africa), FSC (Mauritius), FSA (Seychelles), ASIC (Australia, AU residents only)
- Minimum deposit $20
FSCA (South Africa), FSC (Mauritius), FSA (Seychelles), ASIC (Australia, AU residents only)
Why these two
Both brokers here are confirmed to offer NDD (No Dealing Desk) for New Zealand traders — this list only includes brokers we've verified have this specific feature, not every broker that's generally popular in New Zealand.
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Trade only what you can afford to lose.
What do NDD (No Dealing Desk) brokers actually cost New Zealand traders?
Across the 3 NDD (No Dealing Desk) brokers available to New Zealand traders on this page, the median researched EUR/USD spread is 0.8 pips, ranging from 0.0 to 1.3 pips, with 3 of those figures taken from the broker's own published specification.
NDD (No Dealing Desk) brokers for New Zealand traders
NDD (No Dealing Desk) brokers in New Zealand process your trades without internal dealing desk intervention — your orders go directly to liquidity providers via STP or ECN technology. Our current ranking starts with FP Markets where it is available, followed by PU Prime and BlackBull Markets. Compare regulation, fees, platforms, account terms, and local funding fit before opening an account. This guide ranks 3 brokers for New Zealand traders. The median minimum deposit across the listed brokers is $20 — low — most traders can start with a modest balance. Local oversight for New Zealand traders sits with FMA. Forex and CFD trading access depends on broker permissions and local solicitation rules. Verify serving entity before deposit. Oversight relevant to traders in New Zealand sits with FMA.
Country Offers
Browse All PromotionsAvailable offers for New Zealand traders
Verified broker incentives that may be available in this market. We keep these below the core safety and pricing checks so the shortlist still feels editorial-first.
Cashback / Rebate
BlackBull Markets
FMA (New Zealand)Free TradingView + Refer-a-Friend $250
Free TradingView subscription on volume. Refer-a-friend: up to $250 for both. 100% deposit bonus.
Verified Sep 15, 2026
PU Prime
FSCA, FSC Mauritius, FSA Seychelles100% First-Deposit Credit, then 20%
100% credit on your first deposit (up to $1,000), then 20% on later deposits. Withdrawal conditions apply.
Verified Oct 16, 2026
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Quick Rankings
Get your personalized toplist:
FIND MY BROKER| Broker | Withdrawal | Commission | Open time | USDJPY | Regulation & funding | Action | ||
|---|---|---|---|---|---|---|---|---|
| 0.0 pips (Raw) | $100 | Same day to 1 business day | $3/lot (Raw) | — | — | No tier-1 licence listed | ||
| 1.3 pips (Standard) | 0.0 pips + commission (Prime/ECN) | $20 | 1-3 business days | $3.50/side (Prime) | $1/side (ECN) | — | — | No tier-1 licence listed | ||
| 0.1 | NZ$0 | 1 business day | $3.00/lot | Same day | 0.2 | No tier-1 licence listed |
Rank 01 · best overall
Spread
0.0 pips (Raw)
Min dep.
$100
Withdrawal
Same day to 1 business day
Commission
$3/lot (Raw)
Open time
—
USDJPY
—
Rank 02
Spread
1.3 pips (Standard) | 0.0 pips + commission (Prime/ECN)
Min dep.
$20
Withdrawal
1-3 business days
Commission
$3.50/side (Prime) | $1/side (ECN)
Open time
—
USDJPY
—
Rank 03
Spread
0.1
Min dep.
NZ$0
Withdrawal
1 business day
Commission
$3.00/lot
Open time
Same day
USDJPY
0.2
We earn a commission when you open an account through the buttons above. It does not change the ranking — our methodology. High risk: 68–80% of retail CFD accounts lose money.
In-Depth Broker Analysis
Our research team continuously monitors over 100 parameters per broker. Below is a detailed breakdown of our top-rated platforms, including their distinct advantages, ideal user profiles, and potential drawbacks.
Our Rating
4.5/5.0
Best ForBest for ecn traders, scalpers & australian clients.
Min Deposit$100
FP Markets Review Summary
FP Markets is a multi-regulated broker with MT4, MT5, cTrader, IRESS access, 0.0 pips (Raw) on EUR/USD, and $100 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.
Pros
- Regulation varies by entity
- Minimum deposit: $100
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw or ultra-low spread account available — compare account types before opening
Our Rating
4.5/5.0
Best ForBest for small-balance traders in south africa and latin america; 24/7 gold traders.
Min Deposit$20
PU Prime Review Summary
PU Prime is a multi-regulated broker with MT4, MT5, PU WebTrader, PU Prime App access, 1.3 pips (Standard) | 0.0 pips + commission (Prime/ECN) on EUR/USD, and $20 minimum deposit. Confirm the serving entity, leverage terms, and funding methods before opening an account.
Pros
- Regulation varies by entity
- Minimum deposit: $20
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Raw or ultra-low spread account available — compare account types before opening
BlackBull Markets Review Summary
BlackBull Markets is a local New Zealand broker offering FMA regulation, raw spreads from 0.1 pips, and POLi instant payments.
Pros
- Regulation varies by entity
- Minimum deposit: NZ$0
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Ultra-Low — compare account types before opening
Frequently Asked Questions About NDD (No Dealing Desk) Forex Brokers in New Zealand
Frequently Asked Questions
The best NDD brokers for New Zealand traders offer verified no-dealing-desk execution with zero re-quotes, consistent fills on all order sizes, and no restrictions on profitable strategies. All brokers on this page were tested for genuine NDD execution.
NDD is the broad category — it means no dealing desk. STP (Straight Through Processing) and ECN (Electronic Communication Network) are types of NDD execution. STP passes orders to LPs; ECN aggregates LP quotes into a pool. Both are NDD.
Check for: (1) no re-quotes ever, (2) variable spreads (not fixed), (3) no restrictions on scalping or hedging, (4) consistent execution on all order sizes, (5) regulatory filings confirming execution model. If a broker re-quotes, it has a dealing desk.
Most NDD brokers charge either a per-lot commission (ECN/raw) or a spread markup (STP). Commission-based NDD accounts typically offer tighter raw spreads. Markup-based NDD accounts have no commission but wider spreads.
Yes — NDD brokers are generally better for scalping because: (1) no re-quotes delay execution, (2) no conflict of interest means no restrictions on fast trading, (3) tighter spreads during liquid sessions. Most NDD brokers explicitly allow scalping.
True NDD brokers cannot manipulate prices because they pass your orders to external LPs. However, they can control which LPs they use, the markup they add, and execution priority. Regulation provides oversight against manipulation.
Forex trading in New Zealand: Forex and CFD trading access depends on broker permissions and local solicitation rules. Verify serving entity before deposit. The market is overseen by FMA. Verify your own eligibility with the broker before funding an account — rules can change and we date-stamp this page when they do.
Sources & References
- FP Markets — published spread specification— FP Markets (2026)
- BlackBull Markets — published spread specification— BlackBull Markets (2026)
- PU Prime — published spread specification— PU Prime (2026)
- FCA Register— FCA (2026)
- CySEC Regulated Entities— CySEC (2026)
- BrokerAnalysis ranking methodology— BrokerAnalysis
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Risk Warning: Forex and CFD trading involves significant risk of loss and may not be suitable for all investors. You could lose more than your initial investment. 68-80% of retail investor accounts lose money when trading CFDs with most providers. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Not Financial Advice:
Information on this website is for educational and comparison purposes only. This does not constitute financial, investment, or trading advice. How we rank brokers. See Editorial Policy and Data Sources.
Affiliate Disclosure:
BrokerAnalysis may earn commissions from partners listed. This does not influence our rankings or analysis, which are based on our independent methodology. Read our Content Standards.
Regional Availability Notice
Broker availability depends on your country of residence. Some brokers may not accept clients from certain jurisdictions including the USA, Canada, Japan, and others. The comparison table on this page shows the country-acceptance status captured in our latest eligibility checks.
How we measured this — NDD (No Dealing Desk) brokers for New Zealand traders
Across the 3 NDD (No Dealing Desk) brokers available to New Zealand traders on this page, the median researched EUR/USD spread is 0.8 pips, ranging from 0.0 to 1.3 pips, with 3 of those figures taken from the broker's own published specification.
- median researched EUR/USD spread
- 0.8 pips
- Brokers measured
- 3
- Linked to broker spec
- 3 of 3
- Data as of
- 2026-10-09
Figures compiled by BrokerAnalysis from each broker's own published specification where available, otherwise from our broker catalogue. Per-broker spreads, minimum deposits and regulators are listed in the comparison table on this page. Spreads are typical, not guaranteed, and change with market conditions.
Sources: fpmarkets.com · blackbull.com · helpcenter.puprime.com
What changes locally
- Oversight relevant to traders in New Zealand sits with FMA.