Yes, Saxo is permitted to establish a relationship with clients residing in New Zealand, as long as:
For retail clients residing in New Zealand, you can open an account to trade cash products such as Shares, ETFs or Bonds only, no OTC derivative products (FX/CFD) are allowed.
In order to trade OTC derivatives, you must be classified as an Eligible Investor, known in Australia as a wholesale client. If you reside in New Zealand, regardless of your citizenship, and want to trade OTC derivatives, you must first complete the ‘New Zealand Wholesale Investor Form'. If eligible you would then be able to trade both cash products and OTC derivatives.
To declare yourself as a wholesale client, please fill in the wholesale form and upload this together with the required supporting documents with a support ticket.