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Best Forex Brokers in Pakistan for 2021 - Top 10

May 2021

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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. Forex trading has long been a taboo and controversial topic in Pakistan. However, with the recent influx of various international market players and more data available for research and training, many millennials are trying their luck.

Best Forex Brokers In Pakistan For 2021 - Top 10

This Forex broker comparison compares the various products and services of the forex market and tries to understand the long-term effects of investing with a specific forex trading platform. So, here are the top 10 best forex brokers in Pakistan for 2021.

Best Forex Brokers in Pakistan

There are a lot of forex brokers in Pakistan. Most of them have a long history of operations, and those which are regulated come under the limits of the Securities and Exchange Commission of Pakistan (SECP). Here is a list of the top forex brokers in Pakistan - we've kept several factors into account while compiling this list, as you'll see.

  • 1

    Regulated company; different account types available; low minimum deposit

  • 2

    MetaTrader compatibility; CFD and forex trades; comes with social trading features

  • 3

    Longstanding company with reputation; 230 tradable instruments; low trading fees

  • 4

    Compatible with MetaTrader; Access to ForexCopy; Regulated company

  • 5

    Recognized and trusted name; over 300 instruments to trade; advanced platform

  • 6

    Different account types available; well-regulated company; low minimum deposit

  • 7

    Worldwide offices; Regulated company; commission-free trade options

  • 8

    Supports MetaTrader platforms; educational resources are available; access to analytical resources

  • 9

    Live charts for more than 10000 financial instruments; commission-free trading options

  • 10

    MetaTrader 4 and 5 support; 4000+ trading assets; well-regulated broker

Top 10 Trading Platforms in Pakistan

Today, forex brokers allow you to trade safely without the need to visit a physical location. These platforms provide a secure and safe environment for you to conduct trading. Every broker platform has its own spread, list of assets, commodities, and other investment offerings to attract clients. Let’s have a look at some of them.

Exness

Exness is a reliable broker regulated by FSA and FCA. It is one of the fastest-growing platforms in Pakistan and is a reliable and reputable broker. This is an MT4 trading platform that has won numerous awards.

Why is Exness good for traders from Pakistan?

  • It offers a lot of trading strategies, including scalping and hedging.

  • The platform is very easy to use, and you can start with $1. There is also no commission on deposit or withdrawal.

  • It has a very low spread and offers unlimited leverage for Pakistan.

  • The platform also offers a training and education platform to provide novice investors with the necessary knowledge and tools to manage risk.

FBS

FBS is one of the oldest and largest forex brokers. It is regulated in several jurisdictions. The platform is registered with International Financial Services Commission, which is a trustworthy regulator. The company has a number of offices in Asia and provides a premium trading experience.

Why is FBS good for traders from Pakistan?

  • The platform offers both MT4 and MT5 trading across multiple markets. Through its terminal, traders can access a wide range of charting tools and indicators.

  • FBS offers multiple bonuses, including a welcome bonus worth $100. These bonuses are great for beginners trying to learn and practice forex trading in Pakistan.

  • FBS has a low CFD and forex fee. There is also no commission on withdrawals, and they are usually processed within 1-2 business days.

ICMarkets

IC Markets was founded in Sydney, Australia, in 2007. It has various markets, including CFDs, forex, and commodities, and maintains regulatory status in multiple tier-1 and tier-2 jurisdictions.

Why is ICMarkets good for traders from Pakistan?

  • IC Markets have low spreads and fees, which guarantees that higher prices do not reduce your potential earnings.

  • Opening an IC Markets account is super easy. It has a friendly user interface, and the platform offers the latest trading software, which allows for automated trading.

  • It has a broad range of markets and is best known for scalable execution that works for both novice and veteran investors.

InstaForex

InstaForex has multiple trading platforms and provides quality brokerage services. It is one of the most reputable and legit forex brokers and is fully compliant with EU regulations.

Why is InstaForex good for traders from Pakistan?

  • With over 100 currency pairs, InstaForex allows traders to heavily diversify their portfolios and reduce their risks.

  • InstaForex has numerous deposit methods and low minimum requirements. It is great for people in Pakistan who want to start with minimal deposits.

  • There are several types of accounts within the brokerage, including Islamic accounts, available on request.

Forex.com

Forex.com is a subsidiary of a publicly-traded company on Nasdaq. It is regulated in multiple tier-1 jurisdictions, making it a safe and secure online broker.

Why is Forex.com good for traders from Pakistan?

  • Forex.com offers various investment products. It is one of the leading and fasting growing brokerage exchanges.

  • It has an advanced and sophisticated trading platform that meets the trading requirements of the majority of traders.

  • The trading interface is highly customizable, and traders can create custom indicators based on their resources and knowledge.

  • The platform itself has multiple technical indicators, comes packed with drawing tools and advanced live charts.

OctaFX

OctaFX was established in 2011 and is headquartered in Saint Vincent. It is approved and registered only with CySEC, making it an online broker under European regulatory oversight.

Why is OctaFX good for traders from Pakistan?

  • OctaFX offers multiple account types, including MetaTrader and cTrader platforms.

  • The brokerage also has its research and education portal where traders can learn and execute different trading strategies.

  • OctaFX has a highly compatible mobile app version of its accounts for both iOS and Android devices. The apps come packed with essential features and allow you to access balance, margin, and P&L information easily.

FXTM

Trusted by millions of users, FXTM is a globally licensed and safe forex broker. It is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Commission of the Republic of Mauritius, and the UK Financial Conduct Authority (FCA).

Why is FXTM good for traders from Pakistan?

  • FXTM has a copy trading option which is best for new investors trying to make a profit.

  • With FXTM, you can make use of a lot of trading tools, educational resources, and demo account.

  • Spreads and commissions are relatively low on the brokerage allowing for maximum profitability to traders.

XM

XM is a highly regulated forex brokerage and is licensed by CySEC, ASIC, and Dubai Financial Service Authority. It was established in 2009 and had various trading products to offer.

Why is XM good for traders from Pakistan?

  • XM provides one of the best in class MetaTrader with a few notable upgrades to improve the trading experience.

  • It has a friendly UI, best for people who want to start trading with a basic interface.

  • Very low minimum deposit requirements and high leverage ensure that you enjoy maximum profits.

  • For novice investors, XM also has a demo account which is a useful resource when learning and testing different trading strategies.

CMC Markets

CMC Markets is one of the oldest forex brokers. It started its operations in 1989 and is a trusted broker because of its excellent spread and innovative trading tool. CMC money is registered and regulated by various bodies, including UK FCA, ASIC, and Monetary Authority of Singapore (MAS).

Why is CMC Markets good for traders from Pakistan?

  • CMC Markets is a leader in low-cost trading and has fees that are measurably lower than that of the industry average.

  • The broker has over 10,000 tradeable instruments allowing traders to diversify their portfolio and risk to the maximum.

  • CMC Markets have well-designed and glitch-free web and mobile trading platforms, which are also highly customizable.

  • It has advanced research and analysis tool which is useful for both new and veteran traders.

FXCM

FXCM is a Leucadia Company, a subsidiary of a publicly-traded company on NASDAQ. It is a safe broker and is regulated with tier-1 jurisdictions.

Why is FXCM good for traders from Pakistan?

  • The account opening process on FXCM is straightforward, quick, and easy.

  • The educational content available on the platform is of high quality, and it comes with extensive technical research tools and indicators.

  • A highly customizable web trading platform that has a great search function provides a wide range of order types and several other advanced features.

Above are some of the best online forex brokers in Pakistan you can use in 2021. The majority of these platforms are regulated and have been in the industry for over a decade. They have great educational and research content, and most of them also provide demo account with a trading balance to practice and familiarize with the platform before making a deposit.

Comparison of Brokers in Pakistan

To help Pakistani traders choose the best forex platform online, we have analyzed them in detail. Our team has compared the best brokers on our list to help you make a better decision when it comes to selecting a platform.

Read through to find out if the forex broker will meet your trading requirements.

  • Exness
    More than one office in Pakistan: Yes
    Supporting Pakistani currencies: Yes

    The company is well known for its high-quality service and its own legal department, which provides clients with protection in disputable situations. There is training, including distance learning—one of the most versatile and convenient withdrawal systems.

  • FBS
    More than one office in Pakistan: No
    Supporting Pakistani currencies: Yes

    With long years of operation, FBS brings greater capabilities to its platform with the help of useful tools and fully authorized trading service. It offers several account types, and commission-free trading ensures that you don’t have to risk your profits against hefty fees.

  • IC Markets
    More than one office in Pakistan: No
    Supporting Pakistani currencies: Yes

    An award-winning forex broker that offers fast order execution, unrestricted trading conditions, and tight spreads on the MetaTrader 4 platform. It is a safe top-tier exchange, and It has an easy account opening process with a user-friendly interface.

  • InstaForex
    More than one office in Pakistan: Yes
    Supporting Pakistani currencies Yes

    InstaForex provides smooth flow and connectivity with the trading platform because of its distributed servers and scattered data centers. The broker offers a range of accounts with low spreads, and its copy trading option is best for someone looking to make a profit through auto trading.

  • Forex.com
    More than one office in Pakistan: No
    Supporting Pakistani currencies: No

    A global CFD and FX broker with a long track record of providing a safe and secure trading environment. The company is well known for its reputation and provides markets across varied assets. It has a robust trading system built to withstand heavy trading operations and provides leverage to over 80 currency pairs.

  • OctaFX
    More than one office in Pakistan: No
    Supporting Pakistani currencies: Yes

    OctaFX offers order execution within a second, is free from any commission on deposit and withdrawal, and has among the lowest spreads in the industry. It offers negative balance protection and a range of learning and trading tools for new and veteran investors.

  • FXTM
    More than one office in Pakistan: No
    Supporting Pakistani currencies: no No

    A leading forex and CFD broker that accepts various deposit and withdrawal methods. It is one of the trusted brokerages and offers multiple account types, including a demo account, trading application, and platforms. It has grown rapidly in recent years thanks to the boom and demand for forex trading in Asia, particularly Pakistan.

  • XM
    More than one office in Pakistan: No
    More than one office in Pakistan: Yes

    With millions of clients, XM has established itself as a reputable and trusted broker and an established international investment firm. It provides a fast and secure trading experience and has a competitive advantage against competitors when it comes to the development of custom technical indicators.

  • CMC Markets
    More than one office in Pakistan: No
    Supporting Pakistani currencies: no No

    CMC has an extensive range of offerings on its brokerage, including Crypto, CFDs, and spread betting. It is a feature-rich online broker that provides a functional mobile application and desktop software for trading. Their history of positive reviews and reputation makes them among the safest brokers operating in Pakistan.

  • FXCM
    More than one office in Pakistan: No
    Supporting Pakistani currencies: yes Yes

    FXCM is best known for its fast order execution and its ability to run algorithmic trading. The platform provides advanced charting tools and also caters to new traders by providing them educational material that can help them automated trading setups.

The majority of the above forex brokers support Pakistani rupees. Even though a lot of these brokers don’t have offices in Pakistan, you can still get in touch with official local representatives.

Compare All Forex Brokers

Top 3 Forex Brokers for Investors

Here is a short overview of the 3 best forex brokers available in Pakistan. These platforms offer a combination of spreads, research, and educational tools, and investment products. Selecting anyone from the list is a great option as they have been compiled and curated after a careful review from multiple perspectives.

Broker Investment Programs Min. amount for investing

Exness

Investment Programs:

Forex, Metals, Indices and Energies, Cryptocurrencies

Min. amount for investing:

$1

IC Markets

Investment Programs:

FX, Equities, Commodities, Futures CFDs, Stocks and Bonds, Crypto trade

Min. amount for investing:

$200

XM

Investment Programs:

Stocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencies

Min. amount for investing:

$5

Pay attention

We have studied the above brokers carefully, and all of them have best-in-class services. All of them provide access to educational material for Pakistani users, and a brilliant and fast order execution process ensures that there are no delays with your order. None of them charge deposit and withdrawal fees, and each of the platforms is easy to navigate. For starters, it is recommended to register with Exness because of its low minimum requirements.

More About Investing Money

Top 5 Online Brokers for Beginners

Here is a list of the top five online brokers in Pakistan with their account types. These brokers provide various accounts for different purposes, which have varying fees and commissions depending on the instrument type.

Broker Types of accounts for beginners Minimum deposit

CMC Market

Types of accounts for beginners:

CMC Markets CFD and Corporate Account

Minimum deposit:

$0

Exness

Types of accounts for beginners:

Standard and Professional

Minimum deposit:

$1

Octa FX

Types of accounts for beginners:

Single Account and Demo Account

Minimum deposit:

$100

FXTM

Types of accounts for beginners:

Standard, Cent Account, and Shares Account

Minimum deposit:

$200

FXCM

Types of accounts for beginners:

Single Account

Minimum deposit:

$50

Pay attention

Understanding the account types and their features can be challenging. There are many pros and cons to why you should select a certain account type. It is best to do some research into the topic before actually applying for one. Some broker firms also have Islamic accounts available on request, which is helpful for many Pakistanis. It is always recommended to start with a minimum amount and learn and practice different strategies before making a large deposit.

Speed Course “Forex Trading for Beginners”

Forex Brokers with Deposits Through Pakistani Banks

There are several forex brokers that accept deposits directly through a Pakistani bank account. Rather than depositing through third-party services and running around loopholes, you can make a deposit in your local currency on various brokerage platforms.

Broker Standard Chartered HBL UBL

Exness

Yes

Yes

Yes

OctaFX

Yes

Yes

Yes

IC Markets

Yes

Yes

Yes

XM

Yes

Yes

Yes

FBS

Yes

Yes

Yes

Broker Standard Chartered

Exness

Yes

OctaFX

Yes

IC Markets

Yes

XM

Yes

FBS

Yes

Broker HBL

Exness

Yes

OctaFX

Yes

IC Markets

Yes

XM

Yes

FBS

Yes

Broker UBL

Exness

Yes

OctaFX

Yes

IC Markets

Yes

XM

Yes

FBS

Yes

Best Brokers Based in Pakistan

For Pakistanis, the trust and legitimacy of an online forex broker is a big deal. Access to customer support and availability of native currency all add to the reputation of a business in Pakistan. To further enhance their reputation, a few brokers have representative offices in Pakistan to support their local clients.

Company Office in Pakistan

Exness

Forex Guru Services Pir Mahal, Punjab, Pakistan-36300

Forex Regulations in Pakistan| Expert’s Review

Despite the negativity and stigma surrounding online trading platforms, forex trading is legal in Pakistan. The Security and Exchange Commission of Pakistan (SECP) is the regulatory body located in Islamabad that allows an authorized brokerage to provide access to forex trading and leverage to Pakistani clients.

There are a lot of online forex brokerage firms operating in Pakistan, and as the economy continues to grow and change, more and more local traders are exploring the forex market to leverage the advantage it provides. There are almost no restrictions on forex trading in Pakistan, and you can open an account with a local broker or an international broker, depending on your feasibility.

Forex Regulations in India | Expert’s Review

Although Forex trading is legal in Pakistan, there are some restrictions which include the maximum leverage being capped at 1:10 and unavailability of some assets and commodities to the locals.

More about Forex Regulators

Reviews on Pakistani Brokers

About Exness:

Exness has a great customer support and friendly UI. It responds quickly to queries and has a lot of instruments available to trade.

Syed Khan, 41


About Exness:

The best thing about Exness is its easy account creation and almost no minimum deposit requirement. Opening an account hardly takes a minute, and you can start with a deposit of as low as $1.

Khalid Ali, 29


About CMC Markets:

CMC Markets has one of the best educational content which is regularly updated to meet new challenges. Its account opening process is easy, and through the platform, I have learned a lot trading.

Ghulam Aziz, 32


About OctaFX:

My experience with OctaFX is great. The website is easy to understand; it offers one of the lowest spreads in the market.

Allah Ahammad, 48


About FXCM:

The investment tools provided by FXCM are great. Through their educational material, I have learned to make successful trades, helping me increase my profits.

Abdul Dutt, 44

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About the Author of this Article

Jack Moore
Jack Moore,
Financial Analyst, Trader
  • Jack has been engaged in trading and forecasting in the Forex market for more than 9 years. During this time, he’s gone from a novice to an expert in stock and financial markets. Jack consults well-known brokerage companies and he also helps private clients to choose a broker.
  • In 2013 he commenced at System Capital Group (trading stocks and currencies online using investments of companies and individuals). He held this position for 5 years.
  • Jack Moore advises all traders to work with brokers through Traders Unions. Throughout his professional career he is proud to receive excellent recommendations from numerous clients who have been satisfied with the advice that he has provided.

FAQ

Is Forex Trading Legal in Pakistan?

Forex trading is legal in Pakistan, and there are no hard restrictions. There are various online forex brokers operating in Pakistan with a dedicated website.

What Currencies Are Best to Trade?

In Pakistan, you have a lot of options when it comes to forex. Some of the hot and trending currency pairs include USDXAU, EURUSD, and USDJPY.

How Can I invest in Forex Trading in Pakistan?

There are various options you can select from to engage in forex trading. Some of these include Exness and IC Markets. These platforms provide you a gateway to open a forex account, make a deposit and engage in forex markets.

Who Regulates Forex Trading in Pakistan?

Forex trading and its regulations fall under the Security and Exchange Commission of Pakistan, which is a government body that oversees various financial aspects of the economy.