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
FXTM
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
OctaFX
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
XM
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
Moneta Markets
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
AvaTrade
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

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

We have made FXTM our top-rated broker because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.

Unique Features

Headquarters

Cyprus

Regulation

CySEC, FCA, FSC, CMA

Year Founded

2011

Type of Broker

Instant/Market Execution

Minimum Deposit

$50

Maximum Leverage

Flexible

Type of Platform

MetaTrader 4, MetaTrader 5

FXTM, or “ForexTime”, has been around for a long time: they were founded in 2011. Recent years have seen them continue to steadily expand their business, and they are well- regulated by the U.K., Cyprus, Mauritius, and South Africa. The brand is owned by private companies incorporated in the U.K., Cyprus, and Mauritius. Customers of FXTM have access to more than 57 Forex currency pairs and crosses, precious metals, the major energies, equity indices, big cryptocurrencies, and a few individual American stocks. Talking of stocks, FXTM are quite unique in the area of trading stocks, as they enable direct trading through real legal ownership, not just wrapped as CFDs like almost every other similar brokerage offers.

FXTM offers traders a choice between two of the most popular execution models: customers may open either an ECN-type account, or one that trades by “straight-through processing”. Clients have a straight choice between two trading platforms, with both MetaTrader 4 and MetaTrader 5 on offer.

Through their Mauritius regulator, FXTM offer leverage as high as 1000 to 1. In the U.K. and Cyprus, they are limited by law from offering more than 30 to 1.

If you are looking for a broker with a good copy trading program, it is worth taking a serious look at FXTM’s “FXTM Invest” copy trading program.

FXTM Pros & Cons

Advantages

  • Excellent client deposit protection

  • Low minimum deposit

  • Free MT4 add-ons and VPS hosting

  • Good educational tools

Disadvantages

  • No cryptocurrencies or exotic currencies

  • Low leverage for retail traders

  • Internal withdrawal fees and an inactivity fee

OctaFX

5.0/5 in this category
In Summary
Generous bonuses + commission-free trading

Founded in 2011, OctaFX is a “Straight Through Processing” (STP) broker, which means they do not have an internal dealing desk. They simply connect buyers and sellers directly. With this model, OctaFX aims to be more cost-effective than anyone else in the market. They offer low spreads and claim 97.5% of trades are executed without slippage. 

OctaFX offers their clients a choice of three Forex trading platforms: the world’s most popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All of these can be traded as a desktop application, and on Android and iOS devices. 

Unique Features

Headquarters

Saint Vincent and the Grenadines

Regulation

FSA

Year Founded

2011

Type of Broker

ECN/STP

Minimum Deposit

$50

Maximum Leverage

1:500

Type of Platform

MetaTrader 4, MetaTrader 5, cTrader

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. OctaFX additionally grants their clients Autochartist, but traders require a Silver Level in the Status Program. Traders have a choice between fixed and floating spreads, and the overall cost structure remains competitive. 

Asset selection remains the distinct weakness at OctaFX, making it most suitable for new retail traders. A series of short educational articles offers a basic Forex introduction, and this broker maintains an excellent arsenal of research and analytics tools. 

OctaFX Pros & Cons

Advantages

  • 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

Disadvantages

  • Unregulated

  • Low asset selection

XM

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

Founded in 2009, XM has grown into a firm employing more than 450 professionals to service the financial trading community. It is a well-regulated firm with licenses from the Cyprus Securities and Exchange Commission (CySec) and the Australian Securities and Investments Commission (ASIC). 

XM partners with investment grade banks and uses segregated accounts to ensure security. Retail client funds are insured up to €20,000 by the Investor Compensation Fund. Meanwhile, all clients benefit from Negative Balance Protection, so they are never at risk of losing more than their account balance. 

Unique Features

Headquarters

Cyprus

Regulation

CySEC, ASIC, IFSC

Year Founded

2009

Type of Broker

Market Maker

Minimum Deposit

$5

Maximum Leverage

1:888

Type of Platform

MetaTrader 4, MetaTrader 5, Web-based

XM offers micro accounts and standard account sizes, both just requiring a $5 deposit. There is also an “XM Zero” account with spreads on Forex majors as low as 0 pips, access to 55 Forex pairs and XM's no requotes execution policy. No requotes means you will always receive the price you see on the screen when you execute your trade. 99.35% of all trading orders are executed in less than one second, with no requotes and no rejections. 

XM sticks to the well-known and tested MetaTrader suite, offering MetaTrader 4 and MetaTrader 5, which are both available on desktop, smartphone, and tablets. 

Clients can contact XM by email and a support desk by phone through multiple languages.

XM Pros & Cons

Advantages

  • 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

Disadvantages

  • Inactivity fee

Moneta Markets

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

Moneta Markets is a subsidiary of Vantage International Group Limited (VIG), established in 2009. VIG is licensed in 3 jurisdictions and handles an average monthly trading volume exceeding $100 billion. 

Clients' funds are held in a segregated account with Australia's AA rated National Australia Bank (NAB). Moneta Markets is one of the very few Forex brokers out there that names the bank that holds their clients’ funds. 

Unique Features

Headquarters

Cayman Islands

Regulation

CIMA

Year Founded

2018

Type of Broker

Market Maker

Minimum Deposit

$200

Maximum Leverage

1:500

Type of Platform

Proprietary platform, Web-based

Moneta Markets is unique in the Forex broker world by choosing not to partner with MetaTrader, and instead only offering their own custom web-based charting and execution platform, Moneta Markets WebTrader. 

Built from the ground up, the Moneta Markets WebTrader offers traders perfect precision and unmatched stability. The all-in-one platform has all the technical indicators and chart types a trader needs, and a built-in client portal for account opening and easy deposits and withdrawals. Importantly, the platform is also available as a mobile app. 

Moneta Markets has access to Forex and other instruments such as stocks, and offers up to 500:1 leverage, with a starting minimum account deposit of just $200. 

Moneta Markets multilingual support team is available for customer service and technical support, 24 hours a day, 5 days a week. 

Moneta Markets Pros & Cons

Advantages

  • Intuitive proprietary trading platform

  • Excellent trading tools and in-house research

  • Outstanding technology infrastructure

  • High leverage and deposit bonus

Disadvantages

  • 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 was founded in 2006 in Dublin, Ireland. They are one of the largest and most famous Forex / CFD brokers in the world and became well-known for offering their clients a choice of fixed or floating spread cost of trading models. They enjoy an extremely high and strong level of regulation, making them a favorite for traders who are extremely nervous about the security of their deposit, which in Ireland can be protected by a strong investor deposit protection provision. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava’s maximum leverage offered runs as high as 400 to 1.

Unique Features

Headquarters

Ireland

Year Founded

2006

Type of Broker

ECN/STP

Minimum Deposit

$100

Maximum Leverage

1:400

Type of Platform

MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based

In addition to their longevity and safe reputation, clients know that through AvaTrade they have access to a broad range of asset classes through which diversification can be achieved successfully: AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. Even better, and unusually, 2 bonds and 6 ETFs are also on the menu. The diversity offered here stands out.

Whether you are located within the European Union or not, all branches of AvaTrade will offer you negative balance protection, above and beyond what is mandated by the law. This means that under no circumstances will any client of AvaTrade ever be held liable by the firm for an amount larger than their deposit.

 

AvaTrade Pros & Cons

Advantages

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

  • Low minimum deposit and in-depth educational tools

  • Wide asset choice across seven sectors

  • Superior mobile trading platform

Disadvantages

  • Low leverage for retail traders

  • High quarterly inactivity fee

  • Unacceptable cost for AvaProtect

Top Pakistan Forex Brokers

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.

Brokers Overview

Scroll horizontally to see the whole table.

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

Scroll horizontally to see the whole table.

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

 

Best Pakistani Brokers Overview

FXTM

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

We have made FXTM our top-rated broker because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.

Unique Features

Headquarters

Cyprus

Regulation

CySEC, FCA, FSC, CMA

Year Founded

2011

Type of Broker

Instant/Market Execution

Minimum Deposit

$50

Maximum Leverage

Flexible

Type of Platform

MetaTrader 4, MetaTrader 5

FXTM, or “ForexTime”, has been around for a long time: they were founded in 2011. Recent years have seen them continue to steadily expand their business, and they are well- regulated by the U.K., Cyprus, Mauritius, and South Africa. The brand is owned by private companies incorporated in the U.K., Cyprus, and Mauritius. Customers of FXTM have access to more than 57 Forex currency pairs and crosses, precious metals, the major energies, equity indices, big cryptocurrencies, and a few individual American stocks. Talking of stocks, FXTM are quite unique in the area of trading stocks, as they enable direct trading through real legal ownership, not just wrapped as CFDs like almost every other similar brokerage offers.

FXTM offers traders a choice between two of the most popular execution models: customers may open either an ECN-type account, or one that trades by “straight-through processing”. Clients have a straight choice between two trading platforms, with both MetaTrader 4 and MetaTrader 5 on offer.

Through their Mauritius regulator, FXTM offer leverage as high as 1000 to 1. In the U.K. and Cyprus, they are limited by law from offering more than 30 to 1.

If you are looking for a broker with a good copy trading program, it is worth taking a serious look at FXTM’s “FXTM Invest” copy trading program.

FXTM Pros & Cons

Advantages

  • Excellent client deposit protection

  • Low minimum deposit

  • Free MT4 add-ons and VPS hosting

  • Good educational tools

Disadvantages

  • No cryptocurrencies or exotic currencies

  • Low leverage for retail traders

  • Internal withdrawal fees and an inactivity fee

OctaFX

5.0/5 in this category
In Summary
Generous bonuses + commission-free trading

Founded in 2011, OctaFX is a “Straight Through Processing” (STP) broker, which means they do not have an internal dealing desk. They simply connect buyers and sellers directly. With this model, OctaFX aims to be more cost-effective than anyone else in the market. They offer low spreads and claim 97.5% of trades are executed without slippage. 

OctaFX offers their clients a choice of three Forex trading platforms: the world’s most popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All of these can be traded as a desktop application, and on Android and iOS devices. 

Unique Features

Headquarters

Saint Vincent and the Grenadines

Regulation

FSA

Year Founded

2011

Type of Broker

ECN/STP

Minimum Deposit

$50

Maximum Leverage

1:500

Type of Platform

MetaTrader 4, MetaTrader 5, cTrader

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. OctaFX additionally grants their clients Autochartist, but traders require a Silver Level in the Status Program. Traders have a choice between fixed and floating spreads, and the overall cost structure remains competitive. 

Asset selection remains the distinct weakness at OctaFX, making it most suitable for new retail traders. A series of short educational articles offers a basic Forex introduction, and this broker maintains an excellent arsenal of research and analytics tools. 

OctaFX Pros & Cons

Advantages

  • 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

Disadvantages

  • Unregulated

  • Low asset selection

XM

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

Founded in 2009, XM has grown into a firm employing more than 450 professionals to service the financial trading community. It is a well-regulated firm with licenses from the Cyprus Securities and Exchange Commission (CySec) and the Australian Securities and Investments Commission (ASIC). 

XM partners with investment grade banks and uses segregated accounts to ensure security. Retail client funds are insured up to €20,000 by the Investor Compensation Fund. Meanwhile, all clients benefit from Negative Balance Protection, so they are never at risk of losing more than their account balance. 

Unique Features

Headquarters

Cyprus

Regulation

CySEC, ASIC, IFSC

Year Founded

2009

Type of Broker

Market Maker

Minimum Deposit

$5

Maximum Leverage

1:888

Type of Platform

MetaTrader 4, MetaTrader 5, Web-based

XM offers micro accounts and standard account sizes, both just requiring a $5 deposit. There is also an “XM Zero” account with spreads on Forex majors as low as 0 pips, access to 55 Forex pairs and XM's no requotes execution policy. No requotes means you will always receive the price you see on the screen when you execute your trade. 99.35% of all trading orders are executed in less than one second, with no requotes and no rejections. 

XM sticks to the well-known and tested MetaTrader suite, offering MetaTrader 4 and MetaTrader 5, which are both available on desktop, smartphone, and tablets. 

Clients can contact XM by email and a support desk by phone through multiple languages.

XM Pros & Cons

Advantages

  • 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

Disadvantages

  • Inactivity fee

Moneta Markets

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

Moneta Markets is a subsidiary of Vantage International Group Limited (VIG), established in 2009. VIG is licensed in 3 jurisdictions and handles an average monthly trading volume exceeding $100 billion. 

Clients' funds are held in a segregated account with Australia's AA rated National Australia Bank (NAB). Moneta Markets is one of the very few Forex brokers out there that names the bank that holds their clients’ funds. 

Unique Features

Headquarters

Cayman Islands

Regulation

CIMA

Year Founded

2018

Type of Broker

Market Maker

Minimum Deposit

$200

Maximum Leverage

1:500

Type of Platform

Proprietary platform, Web-based

Moneta Markets is unique in the Forex broker world by choosing not to partner with MetaTrader, and instead only offering their own custom web-based charting and execution platform, Moneta Markets WebTrader. 

Built from the ground up, the Moneta Markets WebTrader offers traders perfect precision and unmatched stability. The all-in-one platform has all the technical indicators and chart types a trader needs, and a built-in client portal for account opening and easy deposits and withdrawals. Importantly, the platform is also available as a mobile app. 

Moneta Markets has access to Forex and other instruments such as stocks, and offers up to 500:1 leverage, with a starting minimum account deposit of just $200. 

Moneta Markets multilingual support team is available for customer service and technical support, 24 hours a day, 5 days a week. 

Moneta Markets Pros & Cons

Advantages

  • Intuitive proprietary trading platform

  • Excellent trading tools and in-house research

  • Outstanding technology infrastructure

  • High leverage and deposit bonus

Disadvantages

  • 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 was founded in 2006 in Dublin, Ireland. They are one of the largest and most famous Forex / CFD brokers in the world and became well-known for offering their clients a choice of fixed or floating spread cost of trading models. They enjoy an extremely high and strong level of regulation, making them a favorite for traders who are extremely nervous about the security of their deposit, which in Ireland can be protected by a strong investor deposit protection provision. AvaTrade is directly regulated in Ireland (and by extension, the European Union), Australia, Japan, South Africa, and the British Virgin Islands. Outside the European Union, Ava’s maximum leverage offered runs as high as 400 to 1.

Unique Features

Headquarters

Ireland

Year Founded

2006

Type of Broker

ECN/STP

Minimum Deposit

$100

Maximum Leverage

1:400

Type of Platform

MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based

In addition to their longevity and safe reputation, clients know that through AvaTrade they have access to a broad range of asset classes through which diversification can be achieved successfully: AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. Even better, and unusually, 2 bonds and 6 ETFs are also on the menu. The diversity offered here stands out.

Whether you are located within the European Union or not, all branches of AvaTrade will offer you negative balance protection, above and beyond what is mandated by the law. This means that under no circumstances will any client of AvaTrade ever be held liable by the firm for an amount larger than their deposit.

 

AvaTrade Pros & Cons

Advantages

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

  • Low minimum deposit and in-depth educational tools

  • Wide asset choice across seven sectors

  • Superior mobile trading platform

Disadvantages

  • Low leverage for retail traders

  • High quarterly inactivity fee

  • Unacceptable cost for AvaProtect

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.