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Originally Posted by peat
I've traded the occasional option series on an online trading platform recently so something is not quite right with your statement. They did require my NZ tax number so possibly are licensed or possibly they are classed as CFD's not options - but they are structured as true put and calls.
From the horse's mouth: https://www.fma.govt.nz/contact/faqs/#Foreign
Why can’t I use an Australian regulated, European regulated, or US regulated foreign exchange provider?
You can, but it’s illegal for them to offer derivatives to retail investors in New Zealand without being licensed by us. If they are willing to break the law to get your business, it’s likely they will be cutting corners in other areas and you will have much less protection if things go wrong."
Spells clear to me. Most major brokerage firms provide some services in derivative & options trades. If not, even simple foreign exchange rate services will require the foreign brokerage firm to be licensed by the FMA despite the NZ client not having any access to these services.
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