• L. 1.76132
  • H. 1.77155
  • Ch. -0.00067
  • Ch.% -0.04%
Costs & Margins
  • EUR/NZD is the ticker for the exchange rate between the euro and the New Zealand dollar. It tells traders how many NZ dollars are needed to buy a single euro. The pair is often called the Euro Kiwi.

    Despite not being among the most liquid pairs on the market, EUR/NZD remains popular because the New Zealand dollar is widely considered a proxy for Chinese economic growth due to the large amount of exports NZ sends its way. This means that during periods of Chinese growth, EUR/NZD may fall as the Kiwi strengthens against the euro.

    Another major factor that impacts the pair’s price is European Central bank meetings, which affect the strength of the euro on global markets.

  • Margin From
    5.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
  • Long
  • Short
  • Min Stop Distance
    4.9 Points
  • Guaranteed Order Minimum
    0.0012 Points
  • Guaranteed Order Premium
    0.0004 units of quantity
  • Spreads
  • Spreads From
    0.00060 Points
  • Margins
  • 0 - 1 700
    5.0 %
  • 1 700 - 2 200
    10.0 %
  • 2 200 +
    30.0 %
  • Dealing
  • Spreads
    0.00060 Points
  • Guaranteed Order Min Distance
    0.0012 Points
  • Margins
  • 0 - 1 700
    5.0 %
  • 1 700 - 2 200
    10.0 %
  • 2 200 +
    30.0 %

Pivot points
Pivot point
Last Updated: 11/30/2023 10:00:00 PM
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Forex explained

Where is forex traded?

Forex is traded via a global network of banks in what’s known as an over-the-counter market – unlike shares and commodities, which are bought and sold on exchanges. Because of this, you can trade forex 24-hours a day five days a week.

FX trading is split across four main ‘hubs’ in London, Tokyo, New York and Sydney. When banks in one of these areas close, those in another open, which is what facilitates round-the-clock trading.

However, there’s no physical location where these banks and individuals trade with each other. Instead, it is entirely online.

Learn more about how to trade forex.

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Why do people trade currencies?

People trade currencies for lots of different reasons. You’ve probably traded a currency if you’ve ever bought goods overseas, for example, or gone on a foreign holiday. However, the vast majority of FX trading is done for profit.

Currencies are constantly moving in value against each other. On any given day, the pound might be rising against the dollar, while the euro falls against the Swiss franc. Forex traders buy and sell currency pairs to try and take advantage of this volatility and earn a return.

For instance, if the Australian dollar is rising against the US dollar, you might buy AUD/USD. When you buy this pair, you’re buying Australian dollars (AUD) by selling the US dollar (USD). Then, if Australian dollars continue to outpace US dollars, you can sell the pair to exchange your AUD back for USD and keep the difference as profit.

Confused? See more examples of how FX trading works.

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When is the forex market open for trading?

The forex market is open for trading 24 hours a day, five days a week. That means with FX, you can build your trading strategy around your schedule, instead of having to conform to when a stock exchange is open.

However, there are times when the market is much more active, and times when it is comparatively dormant. To learn the best times to trade forex, read our FX market hours page.

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