10 Best Forex Brokers in Pakistan
Last Update: April 30th, 2024
The 10 Best Forex Brokers in Pakistan – Rated and Reviewed. We have listed the top Forex Brokers accepting Pakistani Traders.
In the in-depth guide, you will learn:
- The Best Forex Brokers in Pakistan – a List
- Is Forex Trading Legal in Pakistan?
- The Best Time to Trade in Pakistan
- The Best Forex Trading Course in Pakistan
- Which is the best forex broker in Pakistan?
- SECP and PMEX Listed Forex Brokers
and much, MUCH more!
10 Best Forex Brokers in Pakistan – a Comparison
| 🔎 Broker | 🚀Open an Account | 🤝 Accepts Pakistani Traders | 💶 Min. Deposit (PKR) |
| 🥇 AvaTrade | 👉 Click Here | ✅Yes | 27845,15 PKR |
| 🥈 Admirals | 👉 Click Here | ✅Yes | 6961,29 PKR |
| 🥉 Pepperstone | 👉 Click Here | ✅Yes | 36167,23 PKR |
| 🏅 XM | 👉 Click Here | ✅Yes | 1392,26 PKR |
| 🎖️ FP Markets | 👉 Click Here | ✅Yes | 18083,61 PKR |
| 🥇 IC Markets | 👉 Click Here | ✅Yes | 55690,30 PKR |
| 🥈 Tickmill | 👉 Click Here | ✅Yes | 27845,15 PKR |
| 🥉 HYCM | 👉 Click Here | ✅Yes | 5569,03 PKR |
| 🏅 HF Markets | 👉 Click Here | ✅Yes | 1392,26 PKR |
| 🎖️ FXTM | 👉 Click Here | ✅Yes | 2784,52 PKR |
10 Best Forex Brokers in Pakistan (2024)
- ☑️ AvaTrade – Overall, the Best Forex Broker in Pakistan.
- ☑️ Admirals – Best Forex Broker for Beginners.
- ☑️ Pepperstone – Quick and easy account opening.
- ☑️ XM – Excellent all-round Overing.
- ☑️ FP Markets – Leading MT4/MT5 Forex Broker.
- ☑️ IC Markets – Suited to active day traders and scalpers.
- ☑️ Tickmill – Best Broker for Commodities Trading.
- ☑️ HYCM – Best Mobile Trading Experience.
- ☑️ HF Markets – Leading Trading Conditions.
- ☑️ FXTM – Low PKR Deposit Micro Account.
AvaTrade
AvaTrade is a licensed and established broker that provides access to a wide range of trading instruments, including Forex, Stocks, and Commodities. Moreover, it provides access to a Commission Free Islamic Account.
Islamic clients may keep positions open for a maximum of 5 days without incurring the overnight fee. However, positions open for longer than 5 days will incur a fee.
The minimum deposit is 100 USD.
Pros and Cons
| ✅ Pros | ❌ Cons |
| Over 1,260 instruments | Inactivity fees on dormant accounts |
| Fixed spreads from 0.6 pips on the Pro Account | The demo account is available for 21 days |
| Islamic Account | Deposit and withdrawal options are limited |
| There is a free demo account available | Leverage is capped at 1:30 for retail accounts |
Our Insights
Registering an Islamic Account with Avatrade is a straightforward 3 step process. Moreover, a Swap-Free request will be processed within 48 hours.
Admirals
Admirals is an industry leader in Forex and CFDs Trading. Moreover, it provides an Islamic Forex Account. The swap-free option is available on the Trade.MT5 account. It has no restrictions on trading styles, strategies, or the use of Expert Advisors
The minimum deposit is 25 USD.
| 🔑Broker | 🥇Admirals |
| 💴Minimum Deposit | 25 USD |
| 🎉Established Year | 2001 |
| ⏰Support Hours | 24/5 |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, Admirals App |
| 📈Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic Account | Inactivity fee |
| Free Deposit and Withdrawal | No 24/7 customer service |
Our Insights
Admirals suit all levels of traders. Traders will benefit from a large range of financial instruments and zero-pip spreads on certain accounts and instruments.
Pepperstone
Pepperstone is a prominent Forex and CFD broker that provides a Swap-Free Account. Scalping and Hedging are allowed. Moreover, the account is commission-free.
The minimum deposit is AU$200.
| 🔎 Broker | 🥇 Pepperstone |
| 💴 Minimum Deposit | AU$200 |
| 📈 Account Types | Standard Account, Razor Account |
| 💵 Base Currencies | USD, GBP |
| 📉 Spreads | From 0.0 pips EUR/USD on the Razor Account |
| 📊 Leverage | 1:500 (Pro), 1:200 (Retail) |
| 💶 Currency Pairs | 70, minor, major, and exotic pairs |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Fully digital account opening | Mostly CFDs offered |
| Great customer service | Basic Trading Platforms |
Our Insights
Pepperstone suits all Traders, including Beginners, Scalpers, and, Day Traders.
XM
XM is a highly regulated Forex Broker that specializes in Forex and CFDs trading. Moreover, it provides access to a swap-free account with no swap or rollover interest on overnight positions.
The Islamic account has 24/5 dedicated support from a Client Account Manager. The minimum deposit is 5 USD.
| 🔎 Broker | 🥇 XM |
| 💴 Minimum Deposit | $5 USD |
| 🎁 Bonus Offers | ✅Yes |
| 📈 Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| ⏰ Support Hours | 24/7 |
| 🆓 Demo Account | ✅Yes |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Minimum deposit | No social trading features available |
| Unlimited Demo Account | Inactivity Fees |
Our Insights
The XM Islamic account offers leverage of up to 1000:1 and 100% real-time market execution. However, customer support is not available around the clock.
FP Markets
FP Markets is a Forex and CFD Broker regulated by top-tier agencies. Moreover, it provides 2 Islamic Accounts to Muslim Traders. Islamic Options include MetaTrader 4 and MetaTrader 5 accounts.
The minimum deposit is AU$100.
| 🔎 Broker | 🥇 FP Markets |
| 💴 Minimum Deposit | AU$100 |
| 💵 Inactivity Fee | None |
| 📈 Spreads | From 0.0 pips |
| 📉 Leverage | 1:500 |
| 💶 Currency Pairs | Major, Minor, Exotic |
| 📌 Regulations | ASIC, CySEC, FSCA, FSA, FSC |
| 5️⃣ Ease of Use Rating | 4/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FP Markets is regulated in several regions | There are limited instruments offered |
| MetaTrader, cTrader, and IRESS are available | research tools are not extensive |
| Tight Spreads | Withdrawal fees apply |
| There are low forex fees | No sign-up or no-deposit bonus |
Our Insights
Beginners will benefit from two Islamic Account Options. However, the registration process is extensive. Additional documentation can be requested to offer swap-free privileges to an account.
IC Markets
IC Markets is a popular and well-established Forex and CFDs Broker. Moreover, it provides an Islamic, Swap-Free account. The Islamic Account is available on the Raw Spread and Standard account types on the MetaTrader4, MetaTrader 5, and cTrader platforms.
The minimum deposit is 200 USD.
| 🔎 Broker | 🥇 IC Markets |
| 💴 Minimum Deposit | 200 USD |
| 💵 Inactivity Fee | None |
| 📌 Regulation and Licenses | ASIC, CySEC, FSA, SCB |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | None |
| ⏰ Support Hours | 24/7 |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Affordable forex and CFD trading costs | High minimum deposit requirement |
| Comprehensive education and research | No investor protection for non-EU customers |
Our Insights
All Traders will benefit from IC Markets’ 24/7 Customer Support. Moreover, the swap-Free option is available for 2 account types, and, 3 Trading Platforms.
Tickmill
Tickmill is a trustworthy and highly regulated online Forex and CFD brokerage. Moreover, an Islamic Account is provided. Investors can trade 62 currency pairs, including majors, minors, and exotics.
The minimum deposit is 100 USD.
| ✔️ Pros | ❌ Cons |
| MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
| Pro account with minimal commissions | Limited Trading Platforms |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| MetaTrader 4 and MetaTrader 5 | Limited range of instruments |
| Pro account with minimal commissions | Limited Trading Platforms |
Our Insights
Tickmill suits all traders. However, new traders will benefit from a 30 USD Welcome Bonus.
HYCM
HYCM is a trusted and highly regulated Forex Broker. Accounts include Fixed, Classic, and, Raw. Moreover, a Swap-Free option is available.
The minimum deposit is 20 USD.
| 🔎 Broker | 🥇 HYCM |
| 📈 Regulation and Licenses | FCA, CySEC, CIMA, DFSA |
| 📉 Ease of Use | 4/5 |
| 📊 Support Hours | 24/5 |
| 💹 Trading Platforms | MetaTrader 4, MetaTrader 5, HYCM trader |
| 📌 Account Types | Fixed, Classic, Raw |
| 💰 Base Currencies | USD, EUR, GBP, AED, JPY |
| 🅰️ Spreads | From 0.1 pips |
| 🅱️ Leverage | Up to 1:500 |
| 🚀Open an Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Regulated by respectable agencies | Charges inactivity fees |
| Good range of instructional resources | Research services can appear basic |
| Narrow spreads on main Forex pairings | Neither copy nor social trading is currently accessible |
Our Insights
All Traders will benefit from features like negative balance protection, segregated accounts, and, multilingual customer support.
HF Markets
HFM is a leading Forex and CFDs Broker with Swap-Free Trading offered. The account has no hidden fees or charges. Moreover, it is offered to all traders.
The minimum deposit is 5 USD.
| 🔎 Broker | 🥇 HFM |
| 💴 Minimum Deposit | $0 |
| 📌 Regulation and Licenses | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 5️⃣ Ease of Use Rating | 5/5 |
| 🎁 Bonuses | ✅Yes |
| ⏰ Support Hours | 24/5 |
| ⚙️ Trading Platforms | MT4, MT5, HFM Trading App |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Top-tier Regulation | Regional constraints |
| Segregated Accounts for Client Funds | Inactivity fees |
Our Insights
HF Markets, or HFM, is suited to all levels of Traders. It provides a multitude of benefits to Novice and Professional Traders.
FXTM
FXTM is a well-established and popular Forex Broker. Moreover, there is a swap-free option available on all accounts, except MT5.
| 🔎 Broker | 🥇 FXTM |
| 💴 Minimum Deposit | 10 USD |
| 💵 Inactivity Fee | $5 after 6 months of inactivity |
| 🎁 Bonuses | Referral bonus |
| ⏰ Support Hours | 24/5 |
| 🖱️ Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 📌 Account Types | Micro, Advantage, Advantage Plus |
| 💷 Base Currencies | USD, EUR, GBP, NGN |
| 🚀 Open an Account | 👉 Click Here |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Micro, Advantage, Advantage Plus, Demo, and Swap-Free accounts | Inactivity Fee |
| Dedicated customer support teams | Fees apply to most withdrawal methods |
Our Insights
FXTM provides a wide range of solutions to beginner and experienced traders.
Is Forex Trading legal in Pakistan?
Forex Trading is legal in Pakistan. Moreover, it is well governed by top entities, including the Securities and Exchange Commission of Pakistan (SECP), The State Bank of Pakistan (SBP) and, the Foreign Exchange Regulation Department (FERD).
In Conclusion
The popularity of Forex Trading in Pakistan has seen tremendous growth. Moreover, multiple International Forex Brokers accept Pakistani Traders. However, it should be noted that no international Forex broker offers the Pakistani Rupee (PKR) as an account-based currency.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 |  | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | CySEC,MISA, FSCA | USD 20 | Visit Broker >> |
Our Insights
When reviewing the Best Forex Brokers that accept Armenian Traders, we found 10 excellent options. Each broker has its list of Benefits, ranging from multiple account types to Multilingual Customer Support. Finding the Best Forex Broker will depend on a trader’s individual trading needs.
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Frequently Asked Questions
Is Forex Trading Legal in Pakistan?
Forex Trading is Legal provided it is conducted through an International Broker.
What is the local currency in Pakistan?
The Pakistani Rupee (PKR).
What Forex Brokers Accept Pakistani Rupee (PKR)?
No international Forex broker offers the Pakistani Rupee (PKR) as an account-based currency.
How do I check if a Broker has SECP authorization?
The SECP does not maintain an online database. Traders can contact the SECP to verify if a company is authorized.
Is Forex income taxable in Pakistan?
Forex income is taxable in Pakistan.
Is AvaTrade regulated?
Several financial regulators including the Central Bank of Ireland and ASIC regulated AvaTrade.
Does Admirals offer education?
Admirals provide educational resources to Beginners and Professionals.
What platforms does Pepperstone offer?
Pepperstone offers MetaTrader 4 and 5, cTrader, Capatalise.ai, and TradingView.
Can I use leverage to trade on XM?
XM has various leverage options.
Where is FP Markets based?
FP Markets is located in Sydney, Australia.
Is IC Markets good for beginners?
IC Markets provides beginner-friendly tools like instructional materials and demo accounts.
Does Tickmill offer commission-free accounts?
Tickmill offers commission-free accounts.
How does HYCM protect client funds?
Client funds are segregated in tier-1 financial institutions.
What Platforms do HFM offer?
MetaTrader 4 and MetaTrader 5.
What is FXTM’s minimum deposit?
FXTM’s minimum deposit is 10 USD.
Top 4 Brokers
