Which broker is better for New Zealand traders in 2026? Expert analysis across 12 categories.
For New Zealand traders comparing forex brokers in 2025, Global Prime and IC Markets are two popular choices. Global Prime, scoring 3.6 out of 5, is known for its clean execution model and educational resources, while IC Markets, with a 4.8 score, offers industry-leading liquidity and ultra-tight spreads. Both brokers are regulated by the Financial Markets Authority (FMA) in New Zealand, providing a secure trading environment. New Zealand traders benefit from local payment methods such as Bank Transfer, Skrill, Neteller, and USDT TRC20, making deposits and withdrawals convenient. This comparison will help you decide which broker better suits your retail trading needs, whether you prioritise low spreads, platform choice, or support for Islamic accounts.
| Instrument | Global Prime | IC Markets | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | IC Markets |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | IC Markets |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | IC Markets |
| Standard acc spread | from 1.0 pips | from 0.8 pips | IC Markets |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $0 | $200 | Global Prime |
Trading costs are critical for New Zealand traders. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a commission of USD 3.50 per lot per side. Global Prime also features spreads from 0.0 pips but with a slightly higher commission of USD 3.50 per lot. However, Global Prime’s standard account has no commission but wider spreads. For high-volume traders in New Zealand, IC Markets’ raw spread model is more cost-effective, especially when trading NZD/USD or other major pairs. The difference in trading costs becomes significant over many trades, so IC Markets edges ahead for active traders.
| Account Type | Global Prime | IC Markets |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✗ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✓ |
| Zero spread account | ✓ | ✓ |
| Copy trading | ✗ | ✗ |
| Min deposit | $0 | $200 |
| Entity / Asset | Global Prime | IC Markets |
|---|---|---|
| New Zealand (offshore) | Up to 1:500 | Up to 1:5000 |
| Forex major pairs | 1:500 | 1:5000 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Asset Class | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | Global Prime |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | ✗ | 20+ indices | Global Prime |
| Crypto CFDs | ✗ | 20+ | Global Prime |
| Stocks / Share CFDs | ✗ | ✗ | IC Markets |
| ETFs | ✗ | ✗ | Tie |
| Platform | Global Prime | IC Markets |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✗ | ✓ |
| cTrader | ✗ | ✓ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
Both brokers support MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which are popular among New Zealand traders for their advanced charting and automated trading capabilities. IC Markets also offers a proprietary web platform and mobile apps. Global Prime provides MT4 and MT5 only. For New Zealand traders, the availability of cTrader on both platforms is a plus, as it offers depth of market and faster execution. IC Markets has a slight edge with additional platform options and a more extensive library of trading tools, but Global Prime’s simplicity may appeal to less experienced traders.
| Factor | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | IC Markets |
| Avg execution speed | ~30ms | ~40ms | Global Prime |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
Both brokers offer No Dealing Desk (NDD) execution, meaning orders are filled without re-quotes. IC Markets uses Equinix data centres in New York and London for low latency, while Global Prime routes through its own liquidity providers. New Zealand traders may experience slightly higher latency due to distance, but both brokers compensate with fast execution speeds (typically under 40ms). IC Markets has a slight edge in raw execution quality, especially during high volatility.
| Safety Factor | Global Prime | IC Markets |
|---|---|---|
| Primary regulator | ASIC | ASIC |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✗ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Regulation by the Financial Markets Authority (FMA) is crucial for New Zealand traders. Both Global Prime and IC Markets are registered with the FMA, ensuring they adhere to strict client fund segregation and financial reporting standards. IC Markets is also regulated by ASIC (Australia) and CySEC (Cyprus), offering additional layers of oversight. Global Prime is regulated by the FMA and also holds an Australian license. For New Zealand traders, FMA regulation means their funds are held in separate trust accounts, and they have access to the dispute resolution services of the Financial Services Complaints Ltd (FSCL). This provides peace of mind for retail clients.
| Payment Method | Global Prime | IC Markets |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✗ | ✓ |
| Neteller | ✗ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Withdrawal time | Global Prime processes withdrawals instantly on their end, but the time to receive your funds depends on your payment method: bank wire transfers take 1 to 5 business days, credit or debit cards take 1 to 10 days, and e-wallets are instant once completed. | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days |
New Zealand traders have multiple deposit and withdrawal options at both brokers. Bank Transfer is available and typically free, though processing times range from 1-3 business days. Skrill and Neteller deposits are instant and usually fee-free, making them ideal for quick funding. USDT TRC20 (Tether) is also supported, offering a crypto-based alternative for traders who prefer blockchain transactions. Withdrawals follow similar methods: e-wallets are processed within 24 hours, while bank transfers may take 1-2 days. Both brokers do not charge internal fees for deposits or withdrawals, but traders should check for any third-party charges. Minimum deposits are USD 200 for both brokers.
| Islamic Account Feature | Global Prime | IC Markets |
|---|---|---|
| Swap-free available | ✗ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Muslim New Zealand traders can open Islamic (swap-free) accounts with both Global Prime and IC Markets. These accounts comply with Sharia law by not charging or paying swap interest on positions held overnight. IC Markets offers swap-free accounts on its standard and raw spread accounts, while Global Prime provides them on request. Both brokers require a declaration of faith and may limit trading on certain instruments. For New Zealand Muslim traders, this ensures their trading activities align with religious principles while still accessing competitive spreads and execution.
| Support Feature | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | Global Prime |
Customer support is available 24/5 via live chat, email, and phone for both brokers. IC Markets also offers 24/7 support for urgent issues. Global Prime provides support in English, which is fine for New Zealand traders. Response times are generally quick for both, but IC Markets’ round-the-clock availability can be beneficial for traders dealing with global markets outside standard hours.
| Mobile Feature | Global Prime | IC Markets | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | Global Prime |
| Google Play rating | 4.3 stars | 4.2 stars | Global Prime |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Resource | Global Prime | IC Markets | Winner |
|---|---|---|---|
| Video tutorials | ✗ | 50+ videos | IC Markets |
| Webinars (live) | ✗ | ✗ | Tie |
| Economic calendar | ✗ | ✓ | Tie |
| Market analysis | Daily | Basic | Global Prime |
Choose Global Prime if you...
Choose IC Markets if you...
For New Zealand traders in 2025, both Global Prime and IC Markets are excellent choices, but IC Markets stands out with a higher score (4.8/5) due to its superior trading costs, platform variety, and execution quality. Global Prime (3.6/5) is a good option for beginners or those who want a simpler offering with solid regulation. Both accept local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20, and are regulated by the FMA, ensuring safety. Ultimately, IC Markets is the better pick for most New Zealand retail traders, especially those trading in USD and seeking low-cost, high-speed execution.