New Zealand Forex Trading
New Zealand residents are involved in Forex trading as this is one of the best ways to make money investing online. The Forex market is one of the largest in the world and investors can chose to invest small or large amounts and enjoy the massive returns that are generated. New Zealand has been a major jurisdiction for many Forex brokers and one of the main reasons for this is because the borderless international banking business is able to be established without capital requirements. In addition, foreign companies do not need to have a physical office to be registered in the NZ Financial Service Providers Registry.
Since there are very simple rules regarding Forex trading in New Zealand, the country offers many options for traders in regards to the number of brokers that are available. Forex brokers do not have to spend resources to get a license in the heavily regulated jurisdictions.
However, changes occurred in 2013 when New Zealand did start to demand a physical presence of Forex brokers. Any New Zealand resident that wished to trade Forex should look for brokers that are licensed in New Zealand and are physically present as this will offer the safest form of trading online.
Traders also need to be aware of the changing laws regarding the taxation of profits earned from Forex trading. At this time, there are none, but the government is proposing a capital gains tax on any profits derived from the foreign exchange market. With these changes, the Forex trading activities in New Zealand could be altered, however, at this time, residents are free to trade with licensed brokers and enjoy the money that is earned from successful online trades.