IC markets closed to New Zealand clients, other options? | Forex Factory

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IC markets closed to New Zealand clients, other options?

  • #1
  • First Post: Jul 4, 2018 4:48am Jul 4, 2018 4:48am
Hi

Just received an email stating IC markets will no longer accept clients from New Zealand.

Looking to change broker, preferably using Ctrader and ECN. Any suggestions ?

Thanks
  • #2
  • Jul 4, 2018 7:56am Jul 4, 2018 7:56am
I hear that IC are also getting rid of the Canadian clients too, seems like new regulations coming in or something, I wonder if any one can expand on this with further information?
  • #3
  • Jul 5, 2018 2:58pm Jul 5, 2018 2:58pm
I have had the same thing and went to have a look at an old Oanda account and it has been closed for the same reason. I'm keen to hear who other Kiwi's trade with....
  • #4
  • Jul 7, 2018 5:37pm Jul 7, 2018 5:37pm
I dont know exactly why foreign brokers shed their NZ customers, but suspect law changes in NZ concerning money laundering and reporting requirements from July 1st 2018.

I only want a broker where a government guarantees the deposit with that broker.
I am with ActivTrades in the UK and has a 50,000 GBP government guarantee.
No Ctrader or ECN as far as I`m aware, but happy with their execution (not a daytrader) and often positive slippage.
I`m keen on their cfd`s on futures equity indices like Nasdaq: I hold long-term and dont pay any overnight charges.
hope its a bit of help to somebody
  • #5
  • Jul 8, 2018 5:44am Jul 8, 2018 5:44am
These guys seem to fit the bill
https://www.halifaxonline.co.nz/
  • #6
  • Jul 8, 2018 7:40pm Jul 8, 2018 7:40pm
Quoting Tranqility
These guys seem to fit the bill https://www.halifaxonline.co.nz/
although I`m a kiwi, I would never chose a NZ broker.
as long as the NZ government wont guarantee my quite substantial deposit with a broker, I will look elsewhere.
  • #7
  • Jul 8, 2018 8:07pm Jul 8, 2018 8:07pm
Quoting yonnie
I dont know exactly why foreign brokers shed their NZ customers, but suspect law changes in NZ concerning money laundering and reporting requirements from July 1st 2018. I only want a broker where a government guarantees the deposit with that broker. I am with ActivTrades in the UK and has a 50,000 GBP government guarantee. No Ctrader or ECN as far as I`m aware, but happy with their execution (not a daytrader) and often positive slippage. I`m keen on their cfd`s on futures equity indices like Nasdaq: I hold long-term and dont pay any overnight charges....
Leverage 30:1 ?
  • #8
  • Jul 9, 2018 12:32am Jul 9, 2018 12:32am
leverage 400:1 if equity below 50k.
  • #9
  • Jul 9, 2018 2:22am Jul 9, 2018 2:22am
Quoting yonnie
leverage 400:1 if equity below 50k.
In the UK where deposits are guaranteed ? Ive heard they have cut it dramatically

https://www.businessinsider.com.au/l...-market-2018-6
  • #10
  • Jul 9, 2018 7:48am Jul 9, 2018 7:48am
not for the UK, but for the European Union at 30:1 max.
  • #11
  • Last Post: Sep 21, 2018 1:02pm Sep 21, 2018 1:02pm
sorry lasty, you`re right: UK 30:1 as well, being part of the EU for now.
might change later if Brexit comes next year.
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