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10 Best Forex Brokers in Pakistan

Last Update: June 26th, 2024

Best Forex Brokers in Pakistan

 

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

 

10 Best Forex Brokers in Pakistan – a Comparison

🔎 Broker🚀Open an Account🤝 Accepts Pakistani Traders💶 Min. Deposit (PKR)
🥇 AvaTrade👉 Click Here✅Yes27845,15 PKR
🥈 Admirals👉 Click Here✅Yes6961,29 PKR
🥉 Pepperstone👉 Click Here✅Yes36167,23 PKR
🏅 XM👉 Click Here✅Yes1392,26 PKR
🎖️ FP Markets👉 Click Here✅Yes18083,61 PKR
🥇 IC Markets👉 Click Here✅Yes55690,30 PKR
🥈 Tickmill👉 Click Here✅Yes27845,15 PKR
🥉 HYCM👉 Click Here✅Yes5569,03 PKR
🏅 HF Markets👉 Click Here✅Yes1392,26 PKR
🎖️ FXTM👉 Click Here✅Yes2784,52 PKR

 

10 Best Forex Brokers in Pakistan (2024)

  1. ☑️ AvaTrade – Overall, the Best Forex Broker in Pakistan.
  2. ☑️ Admirals – Best Forex Broker for Beginners.
  3. ☑️ Pepperstone – Quick and easy account opening.
  4. ☑️ XM – Excellent all-round Overing.
  5. ☑️ FP Markets – Leading MT4/MT5 Forex Broker.
  6. ☑️ IC Markets – Suited to active day traders and scalpers.
  7. ☑️ Tickmill – Best Broker for Commodities Trading.
  8. ☑️ HYCM – Best Mobile Trading Experience.
  9. ☑️ HF Markets – Leading Trading Conditions.
  10. ☑️ FXTM – Low PKR Deposit Micro Account.

 

AvaTrade Review New

 

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.

🔎 Broker🥇 AvaTrade
💴 Minimum Deposit100 USD
🖱️ Account TypesRetail, Islamic, Professional
🪙 Base CurrenciesZAR, USD, GBP, AUD
5️⃣ Ease of Use Rating4/5
🎁 Bonuses✅ Yes, referral bonus
⏰ Support Hours24/5
💵 Currency Pairs51; Major, Minor, Exotic Pairs
🤝 Affiliate Program✅ Yes
🚀 Open an Account
👉 Click Here

 

AvaTrade Overview

 

Pros and Cons

✅ Pros❌ Cons
Over 1,260 instrumentsInactivity fees on dormant accounts
Fixed spreads from 0.6 pips on the Pro AccountThe demo account is available for 21 days
Islamic AccountDeposit and withdrawal options are limited
There is a free demo account availableLeverage 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 Review

 

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 Deposit25 USD
🎉Established Year2001
⏰Support Hours24/5
💻Trading PlatformsMetaTrader 4, MetaTrader 5, Admirals App
📈Account TypesTrade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5
🚀 Open an Account
👉 Click Here

 

Admirals Islamic Account

 

Pros and Cons

✅ Pros❌ Cons
Islamic AccountInactivity fee
Free Deposit and WithdrawalNo 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 Review

 

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 DepositAU$200
📈 Account TypesStandard Account, Razor Account
💵 Base CurrenciesUSD, GBP
📉 SpreadsFrom 0.0 pips EUR/USD on the Razor Account
📊 Leverage1:500 (Pro), 1:200 (Retail)
💶 Currency Pairs70, minor, major, and exotic pairs
🚀 Open an Account
👉 Click Here

 

Pepperstone

 

Pros and Cons

✅ Pros❌ Cons
Fully digital account openingMostly CFDs offered
Great customer serviceBasic Trading Platforms

 

Our Insights

Pepperstone suits all Traders, including Beginners, Scalpers, and, Day Traders.

 

XM Review

 

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 TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
⏰ Support Hours24/7
🆓 Demo Account✅Yes
🚀 Open an Account
👉 Click Here

 

XM

 

Pros and Cons

✅ Pros❌ Cons
Low Minimum depositNo social trading features available
Unlimited Demo AccountInactivity 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 24/7.

 

FP Markets

 

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 DepositAU$100
💵 Inactivity FeeNone
📈 SpreadsFrom 0.0 pips
📉 Leverage1:500
💶 Currency PairsMajor, Minor, Exotic
📌 RegulationsASIC, CySEC, FSCA, FSA, FSC
5️⃣ Ease of Use Rating4/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

FP Markets Islamic Account

 

Pros and Cons

✅ Pros❌ Cons
FP Markets is regulated in several regionsThere are limited instruments offered
MetaTrader, cTrader, and IRESS are availableresearch tools are not extensive
Tight Spreads Withdrawal fees apply
There are low forex feesNo 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 Review

 

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 Deposit200 USD
💵 Inactivity FeeNone
📌 Regulation and LicensesASIC, CySEC, FSA, SCB
5️⃣ Ease of Use Rating5/5
🎁 BonusesNone
⏰ Support Hours24/7
🚀 Open an Account👉 Click Here

 

IC Markets Islamic Accounts

 

Pros and Cons

✅Pros❌Cons
Affordable forex and CFD trading costsHigh minimum deposit requirement
Comprehensive education and researchNo 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 Review

 

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 5Limited range of instruments
Pro account with minimal commissionsLimited Trading Platforms

 

Tickmill Islamic Account

 

Pros and Cons

✅ Pros❌ Cons
MetaTrader 4 and MetaTrader 5Limited range of instruments
Pro account with minimal commissionsLimited Trading Platforms

 

Our Insights

Tickmill suits all traders. However, new traders will benefit from a 30 USD Welcome Bonus.

 

HYCM Review

 

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 LicensesFCA, CySEC, CIMA, DFSA
📉 Ease of Use4/5
📊 Support Hours24/5
💹 Trading PlatformsMetaTrader 4, MetaTrader 5, HYCM trader
📌 Account TypesFixed, Classic, Raw
💰 Base CurrenciesUSD, EUR, GBP, AED, JPY
🅰️ SpreadsFrom 0.1 pips
🅱️ LeverageUp to 1:500
🚀Open an AccountOpen Account

 

HYCM

 

Pros and Cons

✅ Pros❌ Cons
Regulated by respectable agenciesCharges inactivity fees
Good range of instructional resourcesResearch services can appear basic
Narrow spreads on main Forex pairingsNeither 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.

 

HFM Review

 

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 LicensesFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
5️⃣ Ease of Use Rating5/5
🎁 Bonuses✅Yes
⏰ Support Hours24/5
⚙️ Trading PlatformsMT4, MT5, HFM Trading App
🚀 Open an Account
👉 Click Here

 

HFM Low Swap Fees

 

Pros and Cons

✅ Pros❌ Cons
Top-tier RegulationRegional constraints
Segregated Accounts for Client FundsInactivity 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 Review

 

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 Deposit10 USD
💵 Inactivity Fee$5 after 6 months of inactivity
🎁 BonusesReferral bonus
⏰ Support Hours24/5
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, FXTM Trader
📌 Account TypesMicro, Advantage, Advantage Plus
💷 Base CurrenciesUSD, EUR, GBP, NGN
🚀 Open an Account👉 Click Here

 

FXTM Review

 

Pros and Cons

✅ Pros ❌ Cons
Micro Account for BeginnersInactivity Fee
Dedicated customer support teamsFees apply to most withdrawal methods

 

Our Insights

FXTM provides a wide range of solutions to beginner and experienced traders.

 

Forex Trading in Pakistan

 

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).

 

Is Forex Trading legal in Pakistan?

 

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.

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBUSD 200Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewCySEC, MISA, FSCAUSD 25Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewCBCS, CySEC, FCA, FSA, FSC, FSCA, CMAUSD 10Visit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewIFSC, FSCA, ASIC, CySECUSD 1Visit 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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FAQs

FXTM’s minimum deposit is 10 USD.

MetaTrader 4 and MetaTrader 5.

Client funds are segregated in tier-1 financial institutions.

Tickmill offers commission-free accounts

IC Markets provides beginner-friendly tools like instructional materials and demo accounts.

FP Markets is located in Sydney, Australia.

XM has various leverage options.

Pepperstone offers MetaTrader 4 and 5, cTrader, Capatalise.ai, and TradingView.

Admirals provide educational resources to Beginners and Professionals.

Several financial regulators, including the Central Bank of Ireland and ASIC, regulated AvaTrade.

Forex income is taxable in Pakistan.

The SECP does not maintain an online database. Traders can contact the SECP to verify if a company is authorized

No international Forex broker offers the Pakistani Rupee (PKR) as an account-based currency.

The Pakistani Rupee (PKR).

Forex Trading is Legal provided it is conducted through an International Broker.

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