Table of Contents
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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.

Top-Rated Forex Brokers & Trading Apps in Pakistan

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
4.9/5
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.
Localized payment options
Swap-free Islamic accounts
2
4.7/5
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.
Low, commission-free pricing environment and Swap-free trading accounts
Advanced intuitive OctaTrader trading platform with TradingView technology
3
4.7/5
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.
Islamic trading accounts and localized deposit and withdrawal methods
Proprietary copy trading solution and upgraded MT4/MT5 trading platforms
4
4.6/5
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.
Choice of trading platforms, mobile apps, and copy trading solutions
Islamic trading accounts & Capitalise AI for code-free algorithmic trading
5
4.5/5
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.
Trade 1,000+ financial instruments
Experience low, competitive spreads
6
4.5/5
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.
Islamic trading account with excellent asset selection
Upgraded MT4 trading platform, FIX API & TradingView
7
4.4/5
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.
Choice of payment processors, including cryptocurrencies & instant deposits
Competitive trading fees in the Multibank ECN account
8
4.4/5
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.
Best ECN execution on the MT4 platform
Excellent implementation of cTrader and Smart Trader Tools
9
4.3/5
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.
16 payment processors in 16+ currencies, including several cryptocurrencies
High-quality research and educational content for beginners & 24/5 customer support.
10
4.2/5
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.
Super asset selection for Forex and cryptocurrency traders

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • Octa, 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.
  • Eightcap, Competitive pricing + excellent daily videos.
  • BlackBull Markets, Best ECN trading environment, with scalping and hedging.
  • MultiBank Group, Deep liquidity with no trading restrictions.
  • Pepperstone, Great ECN execution on MT4 platform.
  • ACY Securities, Swap-free trading with the MT5 trading platform.
  • DNA Markets, Super asset selection for Forex and cryptocurrency traders.

A Comparison of the Best Forex Brokers in Pakistan

Regulators
CMA, CySEC, FCA, FSC Mauritius, FSCACySEC, FSCA, MWALI International Services AuthorityASIC, CySEC, FSCAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDASIC, CySEC, FCA, SCB
Year Established
20112011200520062009
Execution Type(s)
ECN/STP, Market MakerMarket MakerECN/STPMarket MakerECN/STP, Market Maker
Minimum Deposit
$200
$25
$100
$100
$100
Average Trading Cost EUR/USD
0.1 pips0.9 pips1.1 pips0.9 pips1.0 pips
Average Trading Cost GBP/USD
0.2 pips1.3 pips1.4 pips1.5 pips1.2 pips
Average Trading Cost Gold
$0.18 $0.30 $0.21 $0.29 $0.12
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedOther, MetaTrader 4, MetaTrader 5, Web-based+MetaTrader 4, MetaTrader 5, Trading View
Islamic Account
Negative Balance Protection

FXTM

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 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.

Read more on FXTM »
4.9/5 in this category

Pros & Cons

  • 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
  • A highly regulated broker with a tier-1 license
  • No cryptocurrencies and limited choice of commodities

Octa

In Summary A commission-free broker with a proprietary copy trading service

I rank Octa among the best Forex brokers in Pakistan due to its competitively priced commission-free trading environment, offering traders minimum spreads from 0.6 pips or $6.00 per 1.0 standard round lot. The $25 minimum deposit via cryptocurrencies ensures Pakistani-resident traders can easily access the Octa trading environment.

Octa is also an excellent copy trading broker with an active community of 40M+ accounts and its proprietor copy trading service and mobile app. Traders can also use the embedded copy trading services in MT4/MT5. Traders can earn passive income via the high-paying affiliate program, paying up to $12 per lot.

Read more on Octa »
4.7/5 in this category

Pros & Cons

  • Quick withdrawals and deposits
  • 0% commission and no overnight charges
  • Space with personalised trading ideas
  • Customer Support 24/7
  • Mobile copy trading services available only for Android

FP Markets

In Summary ECN trading with leverage up to 1:500

fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For Pakistan resident 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. fpmarkets 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.

Read more on FP Markets »
4.7/5 in this category

Pros & Cons

  • 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
  • Availability of Iress geographically restricted

AvaTrade

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.

Read more on AvaTrade »
4.6/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • 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
  • Trading costs competitive but nothing special

Eightcap

In Summary Competitive pricing + excellent daily videos

Eightcap established itself among the best Forex brokers due to its superb trading infrastructure, excellent order execution amid deep liquidity, competitive fees, and cutting-edge trading tools. Manual traders get a well-designed AI-powered economic calendar, and Eightcap upgrades MT4 via Capitalise AI, which enables algorithmic trading in a code-free environment. MT5 traders benefit from Flash Trader, while the dedicated cryptocurrency solution Crypto Crusher caters to cryptocurrency traders.

Copy traders get the embedded MT4/MT5 services, and Eightcap connects social traders to the active TradingView community. Beginner traders get an outstanding educational and research offering via Eightcap Labs and Eightcap Trade Zone.

Read more on Eightcap »
4.5/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

BlackBull Markets

In Summary Best ECN trading environment, with scalping and hedging

BlackBull Markets offers traders its own proprietary copy trading tool, BlackBull CopyTrader, which allows traders to copy signal providers from any other MT4 or MT5 broker. Copy traders can also use ZuluTrade, Myfxbook Autotrade, and the embedded MT4/MT5 copy trading services, making Blackbull one of the most competitive choices for Forex traders in Pakistan. Social traders get the TradingView community with 50M+ traders.

The ECN Standard account has no minimum deposit requirement, and traders get 26,000+ trading instruments and a cutting-edge trading environment. BlackBull Markets released its proprietary trading platform BlackBull Trade, available as a web-based option or as a mobile app.

Read more on BlackBull Markets »
4.5/5 in this category

Pros & Cons

  • 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
  • Limited deposit options

MultiBank Group

In Summary Deep liquidity with no trading restrictions

MultiBankFX complies with 10 regulators and operates offices in 20 countries, ensuring clients have an unmatched global network with deep liquidity pools across major financial centers and in core emerging markets. Traders get the MT4/MT5 trading platforms, which fully support algorithmic trading, and a proprietary copy trading service. The asset selection consists of 55+ currency pairs and 20,000+ equity CFDs and ETFs, while cryptocurrency traders get eleven highly liquid coins. MAM/PAMM accounts cater to traditional retail account management, VPS hosting to algorithmic traders, and FIX API trading to advanced trading requirements featuring custom solutions. A high-paying partnership program also exists.

Read more on MultiBank Group »
4.4/5 in this category

Pros & Cons

  • 20,000 assets offering broad coverage of financial markets
  • Raw spreads from 0 pips and maximum leverage of 1:500
  • MAM/PAMM accounts and proprietary copy trading platform
  • ECN trading with deep liquidity and no requotes
  • Access to raw spreads requires a $5,000 minimum deposit on the ECN account

Pepperstone

In Summary Great ECN execution on MT4 platform

Pepperstone, founded in 2010 and headquartered and regulated in Australia, the U.K., and Dubai, is probably the most well-known ECN Forex broker in the world. As an ECN broker, Pepperstone offer raw spreads and low commissions. Taken together, Pepperstone’s “Razor” account offers one of the most competitive costs of trading in Forex that you will find anywhere. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority (FCA), and in Dubai, where they are regulated by the Dubai Financial Services Authority (DFSA).

Read more on Pepperstone »
4.4/5 in this category

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
  • Leverage of up to 1:30 and superb trade execution
  • Demo accounts have 30-day time limits

ACY Securities

In Summary Swap-free trading with the MT5 trading platform

ACY Securities upgrades MT4/MT5 with Capitalise AI and 15 quality plugins. Capitalise AI supports algorithmic trading in a code-free environment and is the most advanced trading tool available, making ACY Securities one of the best Forex brokers. Low-latency 24/5 market access exists via VPS hosting. Copy traders may use the embedded MT4/MT5 services or diversify via Signal Start and SoFinX.

The commission-based trading accounts offer competitive trading fees with raw spreads from 0.0 pips for a commission of $6.00 for ProZero and $5.00 for Bespoke. Traders also benefit from fast order execution under 30ms via 46 liquidity providers.

Read more on ACY Securities »
4.3/5 in this category

Pros & Cons

  • Large repository of daily analysis and educational content
  • Low spreads starting at 0 pips in the Spread Zero account
  • 16 payment processors, including cryptocurrencies
  • Competitive trading fees in its commission-based accounts
  • Only 1 regulator

DNA Markets

In Summary Super asset selection for Forex and cryptocurrency traders
Read more on DNA Markets »
4.2/5 in this category

Pros & Cons

  • Competitive, commission-based trading fees
  • Choice of payment processors, including cryptocurrencies
  • Excellent choice of Forex and cryptocurrency pairs
  • MT4/MT5 trading platforms for algorithmic and copy trading
  • Limited commodity asset selection and no ETF trading

How to Start Trading Forex in Pakistan

While there are no reputable international Pakistani Forex brokers, Pakistani traders are not restricted from opening trading accounts with Forex brokers from other countries. Therefore, there are thousands of choices, as most, if not all, cater to Pakistani Forex traders. There are two facts to consider when searching for a top Forex broker in Pakistan. First, there are unlikely to be any accounts in the Pakistani rupee, the country’s official currency, so currency conversions on transactions may apply. Second, Urdu is the official language, but many international brokers may not offer Forex trading in Pakistan in Urdu.

With a population above 220,000,000, Pakistan represents an enormous growth market. The tech-savvy, young population could well allocate spending power to Forex trading, a sought-after market due to its low capital requirements for starting a portfolio. Our Best Forex Broker in Pakistan list will provide traders with a head start in selecting the right broker and starting their Forex journey.

New Pakistani Forex traders must follow these common steps to successfully master the markets.

What you need to start Forex trading in Pakistan:

  • A stable internet connection since trading takes place online.
  • A reliable international Forex broker that accepts traders from Pakistan.
  • A quiet place to trade, free of distractions.
  • Adequate trading capital to reach your trading goals.

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

Is Forex Trading Legal in Pakistan?

Despite some confusion in the online Forex trading community, Forex trading is legal in Pakistan. The Securities and Exchange Commission of Pakistan (SECP) regulates the domestic financial markets, including Forex, and international brokers can accept Forex traders from Pakistan without having to obtain a license from the SECP, which therefore does not restrict Pakistani resident Forex traders from opening offshore Forex trading accounts. Some brokers opt not to accept Pakistani Forex traders for undisclosed reasons.

There are no limitations on Forex trading in Pakistan, and the SECP maintains a light regulatory approach but has increased efforts to reduce money laundering. Pakistan belongs to the ‘Next Eleven’ emerging economies, and as the country’s overall prosperity continues to grow, interest in Forex trading rises. It presents a significant growth market for Forex brokers who understand the needs of Pakistani Forex traders, where copy trading and managed account trading rank among the primary strategies.

Forex Regulations in Pakistan

Responsible for regulating Forex trading in Pakistan, the (SECP) operates out of Islamabad and 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.

What Forex Brokers Accept Pakistani Rupee (PKR)?

No international Forex broker offers the Pakistani Rupee (PKR) as an account base currency. Many brokers allow bank wire or credit/card deposits in the Pakistani Rupee and convert them into the chosen account base currency. Currency conversion incurs additional fees, which Pakistani Forex traders should consider when choosing how to deposit.

Pakistan resident Forex traders should opt for a US Dollar base account, as 80%+ of Forex trades involve the US Dollar as a base or quote currency, reducing currency conversions on trading realized profit and loss. Traders can notably decrease currency conversion fees with a multi-currency account from local banks or online providers.

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.

Bottom Line

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.

You might also be interested in reviewing the below top brokers:

FAQs

Is Forex trading legal in Pakistan?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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

Who does the SECP regulate?

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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?

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he 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

Who is Pakistan’s biggest broker?

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No detailed information exists on Pakistan’s biggest broker, and it also depends on the metrics used to define the biggest broker in Pakistan. Since Forex brokers do not offer a breakdown of their traders, it is impossible to conclude which the biggest broker is in Pakistan.

Which broker has the lowest commission in Pakistan?

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FXTM offers the lowest commission industry-wide, where active traders get commissions as low as $0.80 per lot versus the industry standard of $6.00 among competitively priced Forex brokers. The highest FXTM commission is $4.00 per lot, making it cheaper than any competitor.

What is the London Session Forex time in Pakistan?

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In Pakistan, the London session in the Forex market takes place between 7am and 4pm London time, from Monday to Friday inclusive. In Pakistan, this corresponds to the hours from Noon to 9pm.

Which is the number 1 trading app in Pakistan?

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Since MT4 is the industry-leading trading platform, the MT4 mobile app remains the number one app in Pakistan, but no detailed information exists on numbers.

Are trading apps legal in Pakistan?

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Trading apps are not only legal in Pakistan but also highly popular. Among Pakistani-resident Forex traders, copy trading on mobile apps drives trading demand.

Huzefa Hamid
About 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.