Best Forex broker in Pakistan for 2024 - Pocket Option
TOP Forex brokers in Pakistan for 2024:
Pocket Option - Best for Social Trading (top rated service by customers)
Exness - Best raw spread account (avg. spread for major FX pairs 0.1-0.2 pips)
FBS - A reliable broker with affordable offers (ASIC regulation, min. deposit 5$)
TeleTrade - Best for learning trading basics (a lot of educational and analytical materials)
Vantage Markets - Best for trading CFDs on major U.S. Stocks (zero fees apply)
FxPro - Biggest choice of currency pairs (70+ FX CFDs)
Forex trading has long been a taboo and controversial topic in Pakistan, but times are changing. Now, forex trading is fully legal and regulated in Pakistan. The Securities and Exchange Commission of Pakistan (SECP) oversees the regulation of forex trading in the country. However, many brokers operating in the Pakistani market and accepting local clients are regulated by different international bodies.
There is a long list of brokers in the Forex market, all of them with different priorities and approaches when it comes to investment for both private and institutional investors. Traders Union compares the top forex brokers in Pakistan based on their trading conditions, fees, and other relevant factors, presenting the results in a convenient and easy-to-understand way.
Warning:
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Broker | Supported currency pairs | Regulation | Accepts citizens of Pakistan | Minimum Deposit | Swap-free (Islamic) account | |
|---|---|---|---|---|---|---|
40 |
MISA |
5$ |
||||
96 |
FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, FSC (Mauritius), CBCS, and CMA |
1$ |
||||
72 |
CySEC |
5$ |
||||
60 |
CySEC |
|||||
60 |
ASIC, FCA, FSCA, VFSC |
50$ |
||||
70 |
FCA, CYSEC, FSCA, SCB |
100$ |
||||
70 |
||||||
45 |
ASIC, CySEC, and FSA |
200$ |
||||
120 |
BVI FSC |
|||||
55 |
ASIC, FSC, CySEC, DFSA |
5$ |
| Pocket Option | Exness | FBS | TeleTrade | Vantage Markets | FxPro | |
|---|---|---|---|---|---|---|
Trading platform |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading |
MT4, MT5 |
MT4, MT5, WebTrader, Mobile Apps |
MT4, MobileTrading, MT5, cTrader, FxPro Edge |
Instruments |
Binary options and CFDs on currency pairs, cryptos, indices, stocks, and commodities |
Forex CFDs on: cryptos, commodities, indices, and stocks |
Forex, indices, metals, futures contracts |
Forex, metals, indices, energies, stocks, cryptocurrencies |
Currency pairs (57), CFDs on stocks (226), indices (26), and commodities (22), energy, ETFs, bonds, share SFDs |
Over 2,100 assets are available: currencies, stocks, indices, futures, metals, energies, and cryptocurrencies. |
Spread |
1.2 point |
1 point |
0.2 points |
0.8 points |
0 points |
0 points |
Cent accounts |
||||||
Replenishment / Withdrawal |
Bank transfers, bank cards, cryptocurrencies, Skrill, Neteller, AdvCash, Perfect Money, and other e-wallets | Skrill, Neteller, Perfect Money, BTC, USDT, USDC, VISA, VISA Electron, Mastercard, Maestro, and internet banking | Cards: Visa, MasterCard; e-wallets: Skrill, Neteller, Wire Transfer, Rapid Transfer | Visa, MasterCard, Skrill, Neteller, Fasapay e-wallets and bank transfer | Bank transfer, Visa and Mastercard, Neteller, Skrill, FasaPay, Thailand Instant Bank, and PayPal payment systems | VISA/MasterCard, Maestro, UnionPay, Cryptocurrency transfers, Perfect Money, Skrill, Neteller |
Trading features |
Free signals; |
Floating spreads; |
Advisors; Hedging; Protection against a gap. |
Cryptocurrency trading; Social trading. |
Automated trading; Pro Trader Tools; VPS server; Analytical instruments; Proprietary mobile application. |
Scalping - for all types of financial instruments; Negative balance protection for customer accounts; 24-hour multilingual support, 5 days a week; Advisors; Algorithmic Trading. |
Pocket Option caters to both Forex and binary options traders, offering a wide range of trading instruments, a copy trading service, and passive income opportunities.
Clients can trade CFDs on currencies, cryptocurrencies, stocks, indices, and commodities with spreads starting from 1.2 pips and no additional commissions per lot. Pocket Option's unique "My Safe" service offers up to 10% annual interest on unused account balances.
While the platform excels in serving active traders, its demo accounts and referral program also offer value to beginners. However, the lack of cent accounts and ECN options could be a drawback for certain professional traders.
| 💰 Account currency: | USD |
| 🚀 Minimum deposit: | $5 |
| ⚖️ leverage: | 1:1000 for MT4/MT5; 1:1 for options on the in-house platform. |
| 💱 Spread: | 1.2 point |
| 🔧 Instruments: | Binary options and CFDs on currency pairs, cryptos, indices, stocks, and commodities |
| 💹 Level of margin call / stop out | 30%/50% |
| 💻 Trading platform: | Pocket Option, MT5, MT4 |
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
| 💰 Account currency: | EUR, USD, GBP, CAD, AUD, and CHF for all account types; 38 more currencies for non-cent account types |
| 🚀 Minimum deposit: | $10 |
| ⚖️ leverage: | 1:unlimited for retail clients |
| 💱 Spread: | 1 point |
| 🔧 Instruments: | Forex CFDs on: cryptos, commodities, indices, and stocks |
| 💹 Level of margin call / stop out | Standard: 0%/60% Professional: 0%/30% |
| 💻 Trading platform: | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
| 💰 Account currency: | EUR |
| 🚀 Minimum deposit: | €10 |
| ⚖️ leverage: | 1:3000 |
| 💱 Spread: | 0.2 points |
| 🔧 Instruments: | Forex, indices, metals, futures contracts |
| 💹 Level of margin call / stop out | 40% / 20% |
| 💻 Trading platform: | MT4, MobileTrading |
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
| 💰 Account currency: | Euro, dollar |
| 🚀 Minimum deposit: | USD 10 |
| ⚖️ leverage: | 1:500 |
| 💱 Spread: | 0.8 points |
| 🔧 Instruments: | Forex, metals, indices, energies, stocks, cryptocurrencies |
| 💹 Level of margin call / stop out | 100% / 20% |
| 💻 Trading platform: | MT4, MT5 |
Vantage Markets is a multi-asset broker offering a vast array of 1,000+ trading instruments, including currency pairs, CFDs on stocks, indices, commodities, energy, and ETFs. Holding licenses from reputable regulators like the FCA and ASIC, Vantage Markets ensures a level of security and trust for its clients.
The broker provides a choice between spread-based and commission-based account types, with leverage up to 1:500 on Forex pairs. Its PRO ECN option particularly stands out with commission starting from $1.5 per lot, making it attractive for high-volume traders.
Alongside the popular MetaTrader 4/5 platforms, the broker offers proprietary trading platform ProTrader and a convenient Vantage App. Additionally, Vantage Markets integrates with TradingView, enabling direct trading from the popular charting platform.
| 💰 Account currency: | AUD, USD, GBP, EUR, SGD, and CAD |
| 🚀 Minimum deposit: | $50 |
| ⚖️ leverage: | Up to 1:20 (for CFDs on stocks), up to 1:500 (for currency pairs) |
| 💱 Spread: | 0 points |
| 🔧 Instruments: | Currency pairs (57), CFDs on stocks (226), indices (26), and commodities (22), energy, ETFs, bonds, share SFDs |
| 💹 Level of margin call / stop out | 100/50% |
| 💻 Trading platform: | MT4, MT5, WebTrader, Mobile Apps |
FxPro is a well-established broker offering traders access to over 2,100 financial instruments across multiple asset classes, including Forex, stocks, commodities, indices, and cryptocurrencies. It is regulated by reputable authorities – FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average order execution speed of 14-30 ms, setting a market benchmark. FxPro also provides an impressive suite of trading tools and educational resources, such as Trading Central analytics. The minimum deposit of $100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of reliability, FxPro stands out as a top-tier choice for traders looking for a secure and dynamic trading environment.
| 💰 Account currency: | USD, EUR, GBP, CHF, AUD, PLN, ZAR and JPY |
| 🚀 Minimum deposit: | 100 (USD, EUR, GBP, CHF) |
| ⚖️ leverage: | Up to 1:500 subject to the jurisdiction. For example, maximum leverage for certain jurisdictions is up to 1:30 for currency pairs. |
| 💱 Spread: | 0 points |
| 🔧 Instruments: | Over 2,100 assets are available: currencies, stocks, indices, futures, metals, energies, and cryptocurrencies. |
| 💹 Level of margin call / stop out | 25/20 |
| 💻 Trading platform: | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
Professional traders are always seeking opportunities in the currency market. A large number of supported currency pairs by the broker allows traders to profit not only from major pairs but also from numerous exotic regional currencies, which are often more volatile. Traders Union has selected the top 3 brokers with the highest number of supported currency pairs in your country.
| Broker | Supported currency pairs |
|---|---|
120 |
|
96 |
|
72 |
Pocket Option constantly expands the range of its products and services. It was incorporated in 2017 and has shown its client-oriented approach within the first year of operation. Traders got the opportunity to trade in mobile apps, place pending orders, and earn on partnership programs. In 2019, the broker offered trading Forex on MetaTrader 5, and in 2023 it added trading CFDs on MetaTrader 4. All accounts for trading binary options are assigned the Newbie, Beginner, Experienced, Master, Pro, and Guru status subject to the deposit. Accounts without deposits are called Strangers. The higher the level, the more opportunities traders get. Trading conditions are the increase of percentage payment for successful trades and a trade amount that ranges from $1,000 to $20,000. Other advantages are priority withdrawals, gifts, personal manager services, trading strategies, etc. MT4 and MT5 for Windows, Android, macOS, Linux, and WebTrader are available for trading Forex. A separate MT5 account is designed for trading CFDs on stocks. The broker earns a little markup on spreads. There are no additional trading fees. Pocket Option doesn't charge non-trading fees and offers over 50 payment methods that allow traders from many regions to choose an option with minimum transaction fees.
Exness has been providing its services since 2009. Over this period, the company has opened its representative offices worldwide, obtained licenses from many regulatory authorities, and provided in-house platforms for active and passive trading. Its client investments are protected by the Compensation Fund of the Financial Commission. Additional security measures, such as holding client funds in segregated accounts, ensure their safety and blocking from unauthorized use. Today, Exness is one of the biggest European and global brokers with a monthly trading volume of $4.44 trillion. This data is provided on the company’s website in the public domain. Also, there are reports of independent audits regularly held by Deloitte, a highly reputable auditor. Exness wants to be a universal broker for traders with any capital, experience, and strategy. Moreover, its partnership programs with favorable conditions allow the broker to expand its already extensive client base.
The FBS broker fulfills its obligations as a partner to Traders Union and is recognized by the members of the Union as a company that offers clients optimal trading conditions. The FBS brokerage company provides traders with several trading accounts to choose from: a free demo account and several types of real accounts with different conditions. This allows its clients to choose the best option based on the trading strategy and financial instrument, as well as individual requirements. The broker provides all traders with negative balance protection. Considering all this, we can say that the FBS broker is suitable for both novice traders and professionals of foreign exchange trading. It should be noted that the company's support service works around the clock, 7 days a week, and you don't have to wait long for an answer. The broker's website is simple, you can understand it intuitively.
For newcomers, beginning with a demo or cent account, or engaging in copy trading, can be an excellent approach to learning and building experience. Demo accounts offer a risk-free environment to practice trading strategies with virtual funds. Cent accounts, on the other hand, enable trading with small amounts of real money, minimizing risk while still offering a genuine trading experience. Copy trading entails replicating the trades of seasoned traders, providing beginners with insights into their strategies and decisions.
| Broker | Demo | Cent | Copy Trading | |
|---|---|---|---|---|
The Securities and Exchange Commission of Pakistan (SECP) oversees the regulation of Forex brokers and trading platforms in Pakistan. Forex brokers operating in the country are required to obtain licenses from the SECP to offer their services legally. The licensing process typically involves meeting certain criteria and complying with regulatory requirements set by the SECP.
The SECP implements various measures to protect Forex investors in Pakistan:
Income derived from Forex trading is generally subject to taxation in Pakistan. Profits from Forex trading are usually treated as capital gains and are subject to capital gains tax. The tax rate may vary depending on the holding period and other factors.
Forex traders are required to report their trading activities and pay taxes on their profits to the Federal Board of Revenue (FBR). Taxpayers should maintain accurate records of their Forex transactions for tax reporting purposes.
As forex trading increases in popularity in Pakistan, more and more brokers are offering their services to local traders. Here are some tips to help you select a forex broker in Pakistan that meets your specific needs:
It is essential to check that the broker you are considering is regulated by an official financial authority, such as the Securities and Exchange Commission (SEC) of Pakistan. International regulatory bodies such as ASIC, FCA and CySEC are also reliable.
Regulated brokers must adhere to strict guidelines set out by the regulator, including capital requirements, customer protection measures, and reporting standards. This ensures that your funds are secure and that you have access to fair trading conditions. Working with an unregulated broker can be extremely risky as there may not be any legal recourse if something goes wrong.
Different brokers offer different software and services, so it is best to choose a platform that suits your individual needs and preferences. Some of the most popular trading platforms for Pakistani traders are MetaTrader 4, WebTrader and cTrader.
In addition to the platform, look for brokers that offer a range of useful tools and features such as charting tools, market news updates, economic calendars and analysis tools. These can help you make informed trading decisions and maximise your profits.
Be sure to compare the spreads and fees offered by different brokers to find one that works for you. Some brokers offer fixed spreads, while others may offer variable or floating spreads. The fees you pay will depend on the type of account you open and the broker's terms and conditions.
Comparing different brokers can help you save money on trading costs over time, so it is worth taking some time to research the options available to you.
It is important to find a broker that provides good customer service, especially if you are new to trading. Look for brokers with 24/7 support in the form of live chat, email or phone services so you can get help when you need it. It is also helpful to check reviews online to see what other traders have to say about their experiences with the broker.
Forex trading hours in Pakistan depend on the broker you are working with. Generally, forex trading is available 24 hours a day, 5 days a week. The forex market consists of four major trading sessions: the Sydney, Tokyo, London and New York sessions. These are often referred to as the 'Asian', 'European' and 'American' trading sessions. Each session has its own unique characteristics that can be taken advantage of by traders who know when to trade.
The Asian session runs between 4 am and 1 pm PKT, while the London session forex time in Pakistan is between 12 pm and 9 pm. The New York session forex time in Pakistan runs from 5 pm to 3 am.
We evaluate and assess each broker using over 100 objective criteria, resulting in an average score for each Forex broker, which characterizes all aspects of its work. We also take into account its trading volume, which we have access to thanks to hundreds of thousands of traders of our Union. We also take into account reviews on brokers by their traders, which we curate on our website. As a result, according to our unique algorithmic matrix, which is applied to all companies, our program impartially calculates the overall average for each company and its position in the rating. This makes our rating system the most objective and independent in the Forex market.
| Criteria category name | Criteria number in category |
|---|---|
Financial |
38 |
Reliability |
27 |
Security |
18 |
Trading conditions |
15 |
Customer support |
9 |
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
The minimum investment for Forex trading often starts from a few dollars. However, in practice, with such a deposit, you can only trade on a cent account. To trade on a standard account, you typically need at least $100 to trade a micro lot with leverage not exceeding 1:10. Nonetheless, it is better to have a larger sum and use lower leverage.
Yes, Islamic trading accounts (swap-free) that comply with Sharia law are offered by most of the reputable brokers. They do not charge overnight swap fees.
The Forex brokers that offer ECN/Ro spread accounts typically have the lowest spreads (market spreads). In such cases, spreads can start from as low as 0.1 pips.
Muslims are allowed to trade forex in most countries. However, many theologians recommend trading on a swap-free (Islamic) account.
