Alpari New Zealand registers in St Vincent as new rules come into force

Caribbean beach

Retail foreign exchange broker Alpari New Zealand is relocating client accounts to a new entity registered in the Caribbean island of St Vincent on June 3, as new rules to govern the local retail market come into force.

A spokesperson for the retail broker in Moscow tells FXRetail the decision was made to ensure clients were able to receive the same trading terms. As part of the new rules being considered by local authorities, traders using Alpari's platform onshore will have to retain a minimum deposit of $20,000.

The new rules are aimed at legitimising the local market following the rapid rise in retail brokers registering in the country, as stringent rules in other jurisdictions such as Australia and the US came into force. Earlier this year, an official at the Economic Development Group at New Zealand's Ministry of Business, Innovation and Employment in Wellington, told FXRetail officials were aware offshore brokers were registering to take advantage of New Zealand's reputation, and to give the appearance of being subject to a greater level of regulation than registration on its own provides.

Alpari clients looking to retain local accounts in New Zealand will have to register to its new website Those on the incumbent site will automatically become part of the St Vincent-registered entity, the spokesperson says.

He adds that since entering the New Zealand market in November last year, volumes have grown to $239 billion a month.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: