5 Best Forex Brokers in Pakistan 2021

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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.
Quick and easy account registration
Excellent bonuses available in some locations
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.
Leverage up to 1:500 available
Proprietary platform offers a nice alternative to out-of-the box solutions
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.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options

FXTM, Best all-around: high floating leverage + fast execution.
OctaFX, Generous bonuses + commission-free trading.
XM, Exception range of assets + negative balance protection.
Moneta Markets, Great deposit bonus + leverage up to 1:500.
AvaTrade, Highly regulated, choice of fixed or floating spreads.

FXTM

5.0/5 in this category
In Summary
Best all-around: high floating leverage + 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.

FXTM Pros & Cons

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
Generous bonuses + commission-free trading

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. 

OctaFX Pros & Cons

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

  • Unregulated

  • Low asset selection

XM

4.5/5 in this category
In Summary
Exception range of assets + negative balance protection

XM is a contender for the Best Forex Broker in Pakistan due to its excellent asset selection, low minimum deposit, and generous bonus structure. Trusted by more than 3,500,000 traders from 196 countries, XM employs over 450 customer support staff, speaking well over 30 languages. Forex trading in Pakistan in Urdu support offers appeal to those who prefer their local language. The XM management team visited over 120 cities, meeting traders and partners, nurturing close relationships. XM is one of the most trusted global brokers. The $30 no deposit bonus will assist many new retail traders in Pakistan to get started with their first live trading account.

XM Pros & Cons

Pros

  • Outstanding trading tools and loyalty program

  • Low minimum deposit, high leverage, and competitive trading cost

  • Excellent research and education

  • Trustworthy and transparent with generous bonuses and incentives

Cons

  • Inactivity fee

Moneta Markets

4.5/5 in this category
In Summary
Great deposit bonus + leverage up to 1:500

Part of Australian Vantage International Group Limited, Pakistani Forex traders will manage their portfolios from the Cayman Islands Monetary Authority (CIMA) regulated entity with excellent trading conditions. The best asset at Moneta Markets remains Trading Tools, which offers clients a competitive edge. While DupliTrade supports social trading, this broker only presents its intuitive proprietary trading platform, where automated trading is not available. Traders do get precision charting, a convenient order module and improved risk management. Moneta Markets deploys an outstanding technology infrastructure, creating an edge for traders.

Moneta Pros & Cons

Pros

  • Intuitive proprietary trading platform

  • Excellent trading tools and in-house research

  • Outstanding technology infrastructure

  • High leverage and deposit bonus

Cons

  • MT4 trading platform not supported

  • Higher minimum deposit

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.

AvaTrade Pros & Cons

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

Brokers Overview

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Our Rating

9.9

9.6

9.2

9.0

8.9

Retail Loss Rate

74.0%

79.0%

Undisclosed

Undisclosed

77.2%

SECP Regulation

No

No

No

No

No

Minimum Raw Spreads

0.0 pips

Not Applicable

0.4 pips

Not Applicable

Not Applicable

Minimum Standard Spreads

1.5 pips

0.9 pips

0.2 pips

1.4 pips

0.6 pips

Minimum Commission for Forex

$0.80 per Round Lot

Not Applicable

$6.00 per Round Lot

Not Applicable

Not Applicable

Commission for CFDs/DMA

$4.00

Not Applicable

$0.00

$5 per trade

$1.00

Commission Rebates

Yes

Not Applicable

No

Not Applicable

No

Minimum Deposit

$10

$100

$50

$200

$5

Demo Account

Yes

Yes

Yes

Yes

Yes

Managed Account

Yes

No

No

No

Yes

Islamic Account

No

Yes

Yes

Yes

Yes

Inactivity Fee

Yes, but undisclosed

$50 per month

No

No

$5 per month

Deposit Fee

No

No

No

No

No

Withdrawal Fee

Yes + Third-Party

Third-Party

Third-Party

Third-Party

Third-Party

Funding Methods

47

5

4

6

9

 

Asset List and Leverage Overview

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Currency Pairs

62

55

28

44

57

Cryptocurrency Pairs

4

14

3

6

0

Commodities and Metals

8

24

4

15

15

Index CFDs

11

26

10

15

28

Equity CFDs

175

982

0

184

1243

Bonds

0

0

0

0

0

ETFs

0

31

0

0

0

Options

0

42

0

0

0

Maximum Retail Leverage

1:2000

1:30

1:500

1:500

1:888

Maximum Pro Leverage

1:200

1:400

1:200

1:500

1:888

 

Overview of Trading Platforms 

Scroll horizontally to see the whole table.

MT4

Yes

Yes

Yes

No

Yes

MT5

Yes

Yes

Yes

No

Yes

cTrader

No

No

Yes

No

No

Proprietary Platform

Yes

Yes

Yes

Yes

No

Automated Trading

Yes

Yes

Yes

Yes

Yes

Social Trading

No

Yes

Yes

Yes

No

MT4/MT5 Add-Ons

Yes

No

No

No

Yes

Guaranteed Stop Loss

No

No

No

No

No

Negative Balance Protection

Yes

Yes

Yes

Yes

Yes

Unique Feature One

VPS

Regulated by CB of Ireland

Proprietary Social Trading Platform

Trading Tools

Trading Tools

Unique Feature Two

Loyalty Program

Broad Asset Selection

Generous Bonuses

High Leverage

Excellent Education

Starting to Trade 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. 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

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.

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. 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. There are no restrictions for Pakistani Forex traders to trade with an international Forex broker, and most accept traders from 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?

Yes, Forex trading is legal and regulated by the Securities and Exchange Commission of Pakistan (SECP).

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.

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.