5 Best Forex Brokers & Trading Platforms in Pakistan [year]

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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex trading in Pakistan is not only legal, but also gaining popularity among residents as the economy expands. Pakistan is part of the Next Eleven list of developing economies, placing it on course to become one of the largest economies in the 21st century.

1
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best all around broker
High floating leverage + fast execution
2
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Highly-competitive cost structure
24/7 customer support
3
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ECN-style trading
Daily market research and Autochartist access
4
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options
5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Solid broker for scalping and hedging
Institutional-style trading opportunities for retail traders

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • OctaFX, A commission-free broker with a proprietary copy trading service..
  • FP Markets, ECN trading with leverage up to 1:500..
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • BlackBull Markets, Best ECN trading environment, with scalping and hedging.

Top Forex Brokers & Trading Apps in Pakistan

Our Rating
4.5
4.0
4.5
4.5
4.5
Full Review
Retail Loss Rate
77.0%
Undisclosed
70.70%
71.0%
Undisclosed
SECPRegulation
No
No
No
No
No
Minimum Raw Spreads
0.0 pips
Not Applicable
0.0 pips
Not Applicable
0.0 pips
Minimum Standard Spreads
1.5 pips
0.6 pips
1.0 pips
0.9 pips
0.8 pips
Minimum Commission for Forex
$0.80 perRound Lot
Commission-free
$6.00 per Round Lot
Commission-free
$6.00 per Round Lot
Commission for CFDs/DMA
Commission-free
Not Applicable
0.10% or $0.03 per share
Commission-free
0.002%
Commission Rebates
No
Not Applicable
No
Not Applicable
Yes
Minimum Deposit
$50
$100
$100
$100
$0
Demo Account
Yes
Yes
Yes
Yes
Yes
Managed Account
Yes
No
Yes
No
No
Islamic Account
No
Yes
Yes
Yes
Yes
Inactivity Fee
$5 monthly after six months
No
No
$50 monthly after three months
No
Deposit Fee
Third-Party
Third-Party
Third-Party
Third-Party
Third-Party
Withdrawal Fee
Yes + Third-Party
Third-Party
Third-Party
Third-Party
Third-Party
Funding Methods
47
5
19
5
5

Asset List and Leverage Overview

Currency Pairs
Yes
Yes
Yes
Yes
Yes
CryptocurrencyPairs
No
Yes
Yes
Yes
Yes
CommoditiesAnd Metals
Yes
Yes
Yes
Yes
Yes
Index CFDs
Yes
Yes
Yes
Yes
Yes
Equity CFDs
Yes
No
Yes
Yes
Yes
Bonds
No
No
Yes
Yes
No
ETFs
No
No
Yes
Yes
No
Options andSynthetics
Yes
No
No
Yes
No
MaximumRetail Leverage
1:2000
1:500
1:500
1:400
1:500
MaximumPro Leverage
1:2000
1:500
1:500
1:400
1:500

Trading Platforms in Pakistan Overview

MT4
Yes
Yes
Yes
Yes
Yes
MT5
Yes
Yes
Yes
Yes
Yes
cTrader
No
No
No
No
No
ProprietaryPlatform
No
Yes
Yes
Yes
No
AutomatedTrading
Yes
Yes
Yes
Yes
Yes
Social Trading
Yes
Yes
Yes
Yes
Yes
MT4/MT5Add-Ons
No
Yes
Yes
Yes
Yes
GuaranteedStop Loss
No
No
No
No
No
Negative BalanceProtection
Yes
Yes
Yes
Yes
Yes
UniqueFeature One
Low trading costs
Quality Education
MAM/PAMM Accounts
ExcellentEducation
VPS Hosting
UniqueFeature Two
Trading Signals
GenerousPromotions
VPS Hosting
Quality Trading Tools
API Trading

FXTM

5.0/5 in this category
In Summary
Best all-around broker with high floating leverage and fast execution

FXTM established itself as a market leader for emerging markets, catering to frontier markets and serving developed markets. Over 2,000,000 traders trade with FXTM, which is owned by Exinity Group, Alpari's parent corporation. Online Forex trading in Pakistan cannot be simpler than with FXTM, where new traders enjoy low minimum deposits, high maximum leverage, valuable educational content, and excellent trading tools. FXTM has no restrictions on trading strategies, allowing Pakistani traders to take advantage of all possibilities.FXTM is one of a few brokers that supports local transfers in the Pakistani rupee.

Pros
  • Excellent commission-based Forex pricing environment and transparency

  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app

  • Quality market research and educational content for beginner traders

  • Proprietary copy trading platform, low minimum deposit, and high leverage

Cons
  • Limited choice of cryptocurrencies and commodities

OctaFX

5.0/5 in this category
In Summary
A commission-free broker with a proprietary copy trading service.

OctaFX is an unregulated broker but continues to earn the trust of traders around the globe, with more than 1,500,000 accounts opened. One reason for the ongoing success of this market maker is appealing bonus campaigns. This broker paid out almost $3,000,000 in bonus funds. OctaFX offers traders the MT4, MT5, cTrader, and a proprietary mobile trading platform. Asset selection remains the distinct weakness at OctaFX, making it suitable only for new retail traders. New Pakistani Forex traders will have a competitive start to trading with OctaFX, especially with the bonuses and leverage granted, but more advanced ones require a superior choice of assets.

Pros
  • Well-regulated globally, with the Bank of Ireland as the primary regulator

  • Low minimum deposit and in-depth educational tools

  • Wide asset choice across seven sectors

  • Superior mobile trading platform

  • High maximum leverage

Cons
  • Low asset selection

FP Markets

4.5/5 in this category
In Summary
ECN trading with leverage up to 1:500.

fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.

FP Markets Pros & Cons

Pros
  • Choice of trading platforms and auxiliary trading tools

  • Very competitive cost structure and excellent asset selection

  • Low minimum deposit requirement and leverage of up to 1:500

  • Well-regulated and trustworthy

Cons
  • Availability of Iress geographically restricted

AvaTrade

4.5/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

AvaTrade is an excellent choice for those seeking a wide range of trading platform choices, equity, and options trading. Besides the MT4 and MT5 trading platforms with full support for automated trading solutions, three proprietary platforms are available. Manual traders will benefit from WebTrader, options traders have AvaOptions, and AvaTradeGO caters to mobile trading. Social trading is possible via DupliTrade. With an asset selection above 1,250, AvaTrade offers enough products for advanced Pakistani traders. While the minimum deposit of $100 places this broker in reach of all types of traders, the extensive affiliate network with over 70,000 members from 150 countries provides Pakistani traders with an additional income opportunity.

Pros
  • High-quality educational offering via SharpTrader

  • Excellent choice of trading platforms catering to various trading needs

  • Broad asset selection and cross-asset diversification opportunities

  • Well-regulated and trusted broker with oversight from a central bank

Cons
  • Trading costs competitive but nothing special

BlackBull Markets

4.5/5 in this category
In Summary
Best ECN trading environment, with scalping and hedging

BlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.

BlackBull Markets Pros & Cons

Pros
  • ECN/NDD execution model with deep liquidity

  • Institution-grade pricing for retail traders via proprietary price aggregation

  • ZuluTrade and Myfxbook for social trading

  • Leverage of up to 1:500

Cons
  •  Limited deposit options

How to Start Trading Forex in Pakistan

While there are no reputable international Pakistani Forex brokers, there is no restriction on Pakistani traders opening a trading account with Forex brokers from other countries. Therefore, there are thousands of choices, as most, if not all, cater to Forex traders from Pakistan. There are two facts to consider when searching for a Forex broker. and for the top Forex broker in Pakistan. First, there are unlikely to be any accounts in the Pakistani rupee, the official currency of Pakistan. Therefore, currency conversions when conducting financial transactions may apply. Second, Urdu is the official language, but most international Forex brokers may not offer Forex trading in Pakistan in Urdu. It should not pose a significant challenge, as many Pakistanis speak English well, and more Pakistani Forex traders are offering their services in Urdu.

With a population above 220,000,000, Pakistan represents an enormous growth market, not just for Forex brokers, but for all types of industry.

Therefore, the outlook carries a positive bias with incomes expected to increase. The tech-savvy, young population will likely use part of their spending power to invest and trade, with Forex among the most sought-after markets due to its low capital requirements in starting a portfolio. It can create an entire ecosystem from Forex brokers, signal providers, portfolio managers, analysts, accounting services, and Forex trading in Pakistan legal advice. The Forex market offers countless possibilities to make a distinctly positive impact on the everyday life of traders. Our Best Forex Broker in Pakistan list will provide traders with a head start in selecting the right broker and starting their Forex journey.

Forex trading in Pakistan is no different than in other countries, and new traders must follow the same steps to master Forex trading successfully.

What you need to start Forex trading in Pakistan:

  • A stable internet connection - Since trading takes place online, you want to make sure that you remain always connected to markets.
  • A reliable Forex broker - The best choice will be an international Forex broker that accepts traders from Pakistan. Any of those in our Top list will offer new traders an excellent entry into Forex trading.
  • A quiet place to trade - Trading Forex requires a tranquil place, free of distractions. The more noise you have to keep your focus away from trading when you do, the more likely it is that you will make costly errors.
  • Trading Capital - One of the biggest reasons why up to 85% of Forex traders fail is the lack of adequate trading capital.

Opening a Forex Account in Pakistan

An online application handles the account applications at all brokers and usually takes only a few minutes to complete. Regulated brokers must comply with AML/KYC requirements. A copy of the trader’s ID and one proof of residency document no older than three months generally satisfies them.

Which Trading App is Best in Pakistan?

It comes down to individual preference. Some Forex brokers cater to select trading strategies better than others. Requirements differ between traders, but below are aspects every trading app should provide traders to compete among the best.

Core aspects every trading app must provide traders:

  • Cutting edge trading platforms with full support for algorithmic trading
  • Forex traders should look for upgrades to the core MT4/MT5 trading platform, as the core version presented by most offers a sub-standard solution
  • Low trading costs where 1 standard lot in the EUR/USD costs between $4.00 and $7.00, everything above is expensive, irrelevant of how the Forex broker advertises it
  • Business-friendly regulation or membership with the Hong Kong-based Financial Commission, and third-party excess of loss insurance
  • Low minimum deposits supporting portfolio building strategies via monthly deposits
  • Low-cost online payment processors provide traders with flexibility, while cryptocurrency deposits are a bonus

Noteworthy:

  • Beginner traders can benefit from a high-quality educational platform, while research can provide trading ideas for Forex traders without a profitable strategy
  • Algorithmic traders should look for API trading and free VPS hosting
  • Scalpers require a volume-based cash rebate program

Risks of Forex Trading in Pakistan

The Forex market is the most liquid market globally, and nearly $7 trillion exchange hands daily. Therefore, liquidity remains a risk for all traders, but it also brings opportunities. New retail traders may struggle with the technical terminology, but a glossary will bridge the gap. The most significant risks to trading come from the trader and include lack of discipline and patience, insufficient trading capital, unrealistic expectations, and a lack of attention, focus, and appreciation for Forex trading.

Tips for Trading Successfully

While every trader will have to find their path to achieve their trading goals, there are several steps each one must consider. Below are four that will give every trader an edge and position them on a profitable path.

What you should do to succeed as a Forex trader:

  • Education - Never rush into Forex trading. Learn how to trade Forex, as learning precedes earning. Take your time and invest in your education.
  • Patience - Trading successfully requires more patience than capital. Knowing when to trade and when to remain on the sidelines will make all the difference.
  • Trading Strategy - Find one that complements your personality, your character. It will ensure smoother operations. Once you have sufficient experience, you can tweak existing ones or create one.
  • Deposit Strategy - You must commit to a monthly deposit and build your portfolio. New traders often make one deposit and believe it is enough.

Forex Regulations in Pakistan

The Securities and Exchange Commission of Pakistan (SECP) is responsible for regulating Forex trading in Pakistan. The SECP operates out of Islamabad and also oversees the banking and insurance sectors, together with other sub-sectors of the financial system. International brokers do not require a license from the SECP to accept Pakistani Forex traders unless they have a physical office in Pakistan.

Verifying SECP Authorization

The SECP does not maintain an online database like most regulators, but traders can contact the SECP to verify if a company is authorized.

Conclusion

Pakistan represents a tremendous growth market for Forex trading and improving economic conditions can boost the growth rate of online Forex trading in Pakistan. While the potential attracts many new retail traders, it equally does so with scammers.Finding the best trading platform in Pakistan may be challenging but it is possible.Therefore, if something sounds too good to be true, especially from an unverified or unregulated source, remain cautious. Conduct proper due diligence when selecting a Forex broker or pick one from our Best Forex Broker in Pakistan list.

In case you are unsure about legal aspects, you should consult a professional skilled in Forex trading in Pakistan legal services. Most Forex brokers accept traders resident in Pakistan. Invest in your education, ensure you have sufficient trading capital, and create a deposit plan. Patience and discipline will assist you in your journey to become a profitable Forex trader, but you must leave unrealistic expectations out of your trading strategy.

FAQs

Is Forex trading legal in Pakistan?

In May 2022, the State Bank of Pakistan publicly stated that “…buying products & services through illegal offshore Foreign Exchange Trading Websites, Apps & other Platforms is prohibited & against the law. Public is advised to refrain from such platforms to avoid any loss & legal proceedings.

How can I invest in Forex trading in Pakistan?

You must select a Forex broker – preferably a regulated international one – open an account and fund it.

Which broker is best for Forex trading in Pakistan?

All five brokers in our Top Five Best Forex Broker in Pakistan List present an excellent and trustworthy choice.

Can I trade Forex with $10?

While it is enough to fund an account with some Forex brokers and will suffice to open a micro position, it is not enough to trade Forex properly unless a nano-account is used.

Is Forex income taxable in Pakistan?

Forex income is taxable in Pakistan, and Forex traders resident in Pakistan must be tax filers per the Finance Bill 2018. Forex traders should consult a qualified professional with tax assistance to ensure traders comply with local laws and regulations.

Is Forex banned in Pakistan?

Forex is not banned in Pakistan provided it is conducted through an onshore broker in Pakistan.

What time does the Forex market open in Pakistan?

The Forex market operates 24/5, as it is a decentralized OTC market. In every country, domestic activity is usually the highest during business hours of domestic stock markets. In Pakistan, they are from Monday 9:15 a.m. to Thursday 5:30 p.m., and Friday from 9:00 a.m. to 6:30 p.m.

How can I withdraw money from Forex brokers in Pakistan?

Each broker lists their supported payment processors. They always include banks and credit/debit cards. Many offer modern online payment processors, lowering trading costs and processing times.

How can I invest in foreign currency in Pakistan?

The most convenient method is by opening an account a well-trusted Forex broker with low trading costs, low deposit requirements, and low-cost payment processors.

What does SECP mean?

SECP is the acronym standing for the “Securities and Exchange Commission of Pakistan”.

Who does the SECP regulate?
The Securities and Exchange Commission of Pakistan (SECP) regulates capital markets, finance companies, insurance companies, and the corporate sector in Pakistan.

What is the purpose and objective of the SECP?

The purposes and objectives of the SECP are:

  • Protect the right of investors
  • Develop an efficient and dynamic regulatory framework
  • Maintain orderly, efficient, and fair capital markets
  • Promote a strong insurance and corporate sector Facilitate capital formation
Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.