I live in New Zealand and yes, to a level, the FX brokers here generally unregulated. From what I hear NZ authorities have started to clamp down on corrupt/ bucket store fx brokers. You will find quite a number of them in NZ, but do not think for too long though.

Those whom I know that have a very good reputation are OMF.co.nz, but the minimum deposit is $10 000, PFD.co.nz seem okay, FXPIG, and Halifaxonline. These are the only ones that I am aware of where your money is secure in NZ!