Best Forex broker in Pakistan for 2024 - Exness
TOP Forex brokers in Pakistan for 2024:
Exness - Best raw spread account (avg. spread for major FX pairs 0.1-0.2 pips)
Pocket Option - Best for Social Trading (top rated service by customers)
FBS - A reliable broker with affordable offers (ASIC regulation, min. deposit 5$)
FreshForex - Best for occasional trading on-the-go (through proprietory Telegram bot)
Forex4you - Best cent account for beginners ($0 minimum deposit, spread from 0.1 pips)
TeleTrade - Best for learning trading basics (a lot of educational and analytical materials)
Forex trading has long been a taboo and controversial topic in Pakistan, but times are changing. Now, forex trading is fully legal and regulated in Pakistan. The Securities and Exchange Commission of Pakistan (SECP) oversees the regulation of forex trading in the country. However, many brokers operating in the Pakistani market and accepting local clients are regulated by different international bodies.
There is a long list of brokers in the Forex market, all of them with different priorities and approaches when it comes to investment for both private and institutional investors. Traders Union compares the top forex brokers in Pakistan based on their trading conditions, fees, and other relevant factors, presenting the results in a convenient and easy-to-understand way.
Warning:
There is a high level of risk involved when trading leveraged products such as Forex/CFDs. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Broker | Supported currency pairs | Regulation | Accepts citizens of Pakistan | Minimum Deposit | Swap-free (Islamic) account | |
|---|---|---|---|---|---|---|
96 |
FCA, CySEC, FSA (Seychelles), FSCA, BVI FSC, FSC (Mauritius), CBCS, and CMA |
1$ |
||||
40 |
MISA |
5$ |
||||
72 |
CySEC |
5$ |
||||
70 |
||||||
120 |
BVI FSC |
|||||
60 |
CySEC |
|||||
70 |
FCA, CYSEC, FSCA, SCB |
100$ |
||||
55 |
ASIC, FSC, CySEC, DFSA |
5$ |
||||
80 |
FinaCom |
100$ |
||||
50 |
The Financial Commission |
10$ |
| Exness | Pocket Option | FBS | FreshForex | Forex4you | TeleTrade | |
|---|---|---|---|---|---|---|
Trading platform |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
Pocket Option, MT5, MT4 |
MT4, MobileTrading |
MT4, MobileTrading |
MT4, MobileTrading, MT5 |
MT4, MT5 |
Instruments |
Forex CFDs on: cryptos, commodities, indices, and stocks |
Binary options and CFDs on currency pairs, cryptos, indices, stocks, and commodities |
Forex, indices, metals, futures contracts |
Forex currency, CFD for precious metals, shares, energy products |
currency pairs, CFDs on stocks, stock indices, metals, and energies |
Forex, metals, indices, energies, stocks, cryptocurrencies |
Spread |
1 point |
1.2 point |
0.2 points |
0 points |
0.1 points |
0.8 points |
Cent accounts |
||||||
Replenishment / Withdrawal |
Skrill, Neteller, Perfect Money, BTC, USDT, USDC, VISA, VISA Electron, Mastercard, Maestro, and internet banking | Bank transfers, bank cards, cryptocurrencies, Skrill, Neteller, AdvCash, Perfect Money, and other e-wallets | Cards: Visa, MasterCard; e-wallets: Skrill, Neteller, Wire Transfer, Rapid Transfer | Bank cards, electronic payment system, Internet-banks, mobile payment SMS | WebMoney, Neteller, Skrill, VISA, MasterCard | Visa, MasterCard, Skrill, Neteller, Fasapay e-wallets and bank transfer |
Trading features |
Floating spreads; |
Free signals; |
Advisors; Hedging; Protection against a gap. |
Automated trading with advisers; Free analytical reviews; No commission is charged; Trade through Telegram. |
Cryptocurrency trade; Relatively narrow spread; Free analytics |
Cryptocurrency trading; Social trading. |
The Exness brand is known worldwide due to its profitable trading conditions, high-security level, and wide range of financial instruments. It focuses on trading CFDs, especially currency pairs. Cryptocurrencies, commodities, stocks, and derivative stock indices are also available. Exness offers account types for novice traders, more experienced traders, and professionals. It allows traders to use a variety of strategies including passive ones, such as copy trading and algorithmic trading. The proprietary Exness platform for social trading is used by over 20,000 investors globally. The broker’s activities are legal and its services are available in over 130 countries. Exness is supervised by 8 financial commissions, including CySEC (Cyprus, 178/12), one of the strictest European regulators, and FCA (UK, 730729), FSA (Seychelles, SD025), FSC (BVI) SIBA/L/20/1133, CBCS (Curacao, 0003LSI), FSCA (South Africa, 51024), and CMA (Kenya, 162). The broker offers demo and cent accounts for novice traders, as well as standard and ECN account types for experienced traders.
| 💰 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 |
Pocket Option is an innovative Forex and binary options broker with over $500 million in trading volume. It offers active trading on financial markets, copy trading, and passive income on holding funds in dollar and cryptocurrency safes. The broker provides an in-house platform to trade binary options and MetaTrader platforms to trade CFDs on currencies, cryptocurrencies, stocks, indices, and commodities. Pocket Option was incorporated in 2017. The broker’s service is available in more than 95 countries and regions globally. Today, over 10 million users are registered with the broker, and 100,000 traders regularly use its services. In July 2023, it obtained a license from Mwali International Services Authority number T2023322.
| 💰 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 |
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. In addition to classic currency pairs, the company's clients can trade indices, futures contracts, exotic currencies, and metals. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
| 💰 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 |
FreshForex has been operating since 2004. The broker is registered in Kingstown, Saint Vincent, and the Grenadines. FreshForex has won more than 20 International awards and these achievements include Best Trading Conditions according to FXDailyInfo in 2016 and Best Bonus Program in 2017.
| 💰 Account currency: | US dollars (USD), euro (EUR) |
| 🚀 Minimum deposit: | From 0 US dollars |
| ⚖️ leverage: | Up to 1:2000 |
| 💱 Spread: | 0 points |
| 🔧 Instruments: | Forex currency, CFD for precious metals, shares, energy products |
| 💹 Level of margin call / stop out | 100% / 20%; 100% / 40%; 100% / 60% |
| 💻 Trading platform: | MT4, MobileTrading |
The broker Forex4you started in 2007. The company provides a full range of active and passive trading services in the Forex market. The company runs its operations in the British Virgin Islands, under the license BVI FSC (license number SIBA/L/12/1027). Forex4you is committed to responsibility and professionalism. In 2018, according to Le Fonti, the company was awarded the ‘Best Broker’ which is the highest award achievable, and prior to this it has consistently won and received nominations for awards including ‘Forex Broker of the Year’ and ‘Best Service Quality’ nomination. Read more about Forex4You Available Countries.
| 💰 Account currency: | EUR, USD |
| 🚀 Minimum deposit: | From 0 USD |
| ⚖️ leverage: | Up to 1:1000 |
| 💱 Spread: | 0.1 points |
| 🔧 Instruments: | currency pairs, CFDs on stocks, stock indices, metals, and energies |
| 💹 Level of margin call / stop out | 50-100%/10-20% |
| 💻 Trading platform: | MT4, MobileTrading, MT5 |
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.
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.
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 | |
|---|---|---|---|---|
Yes. As a Pakistani forex trader, you are required to pay taxes on all profits earned from trading. Generally speaking, taxes paid by forex traders can be divided into two major categories. Those who submit annual tax filings may pay a maximum of 0-15 percent, depending on the amount earned. If you don't file yearly, you'll face up to 35 percent in capital gains tax.
Note that forex brokers do not report directly to the local tax authority. It is up to traders themselves to report their profits and losses for taxation purposes. Talk to your tax advisor or a representative working under Pakistan's FBR (Federal Board of Revenue) for more information.
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.
