Best Forex Trading Platforms In Pakistan 2024
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Forex traders in Pakistan need an online broker to speculate on currencies like the Pakistani rupee (PKR). However, with no forex trading platforms registered with the Securities and Exchange Commission of Pakistan (SECP), residents often open accounts with overseas brokers.
We’ve tested, rated and identified the best forex brokers in Pakistan, all accepting local traders, earning the trust of our experts, and supporting convenient deposits in Pakistani rupees.
10 Top Forex Brokers In Pakistan
Our years of hands-on evaluations and exhaustive analysis show these are the 5 best forex brokers for traders in Pakistan:
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1AvaTrade20% Welcome Bonus up to $10,000
Ratings
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
2RoboForex$30 No Deposit BonusRoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Ratings
$100.01 Lots1:2000IFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, FuturesR StocksTrader, MT4, MT5, TradingViewVisa, iDeal, Trustly, Neteller, Skrill, Giropay, Sofort, Wire Transfer, Rapid Transfer, Alipay, POLi, Perfect Money, MoneyGram, Cashu, SafeCharge, WeChat Pay, Vietcombank Transfer, Volet, ecoPayz, AstroPayUSD, EUR -
3Expert Option100% deposit bonus
Ratings
$10$1N/ASVGFSAOptions, Stocks, Commodities, Forex, Crypto, Futures,Expert Option Web PlatformVisa, Skrill, Neteller, FasaPay, Mastercard, UnionPay, WebMoney, Wire Transfer, Perfect Money, Bitcoin Payments, Maestro, M-Pesa, FlutterwaveUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, AED -
4Exness
Ratings
$100.01 Lots1:2000FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoExness Trade App, MT4, MT5, TradingCentralWire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, BoletoUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR -
5Vantage50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Ratings
$500.01 Lots1:500FCA, ASIC, FSCA, VFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, BondsProTrader, MT4, MT5, TradingView, DupliTradeSkrill, BPAY, JCB Card, AstroPay, Visa, Swift, Neteller, Wire Transfer, Credit Card, Debit Card, UnionPay, FasaPayUSD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN -
6IC Markets
Ratings
$2000.01 Lots1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)ASIC, CySEC, FSA, CMACFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, CryptoMT4, MT5, cTrader, TradingView, TradingCentral, DupliTradePayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeChargeUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
7PepperstoneCFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Ratings
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, SkrillUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
8XM$30 No Deposit Bonus When You Register A Real Account
Ratings
$50.01 Lots1:1000ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
9Eightcap
Ratings
$1000.01 Lots1:500ASIC, FCA, CySEC, SCB, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoMT4, MT5, TradingViewNeteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX PaymentUSD, EUR, GBP, CAD, AUD, NZD, SGD -
10PrimeXBT$100 Deposit Bonus
$00.01 Lots1:1000CFDs, Cryptos, Forex, Indices, Commodities, FuturesOwnBitcoin Payments, Ethereum Payments, Credit Card, Debit CardUSD, EUR, GBP
Here is a summary of why we recommend these brokers:
- AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
- RoboForex - RoboForex offers trading on 30+ currency pairs, trailing category leaders like Pepperstone with its 90+ forex assets. That said, the Prime and ECN accounts feature competitive average spreads of 0.1 pips on the EUR/USD. Additionally, with a minimum investment of $100, traders can utilize the CopyFX system to replicate the strategies of seasoned currency traders.
- Expert Option - Expert Option traders can access some of the most popular forex pairs including USD/EUR, GBP/USD and GBP/EUR using binary options contracts that payout up to 95%, well above the industry average of around 85%.
- Exness - An impressive range of around 100 forex pairs are available, more than most other brands. Spreads on major pairs are also tight, from 0.1 pips. Additionally, the broker offers an excellent suite of forex analysis tools, including market news by FXStreet.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
- Pepperstone - Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.
- XM - XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.
- Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
- PrimeXBT - PrimeXBT offers 50 forex pairs, which is above the industry average and covers a good range of majors, minors and exotics. Traders can enjoy trading via margin with zero commissions. Additionally, the broker’s copy trading service allows you to explore various currency trading strategies.
Best Forex Trading Platforms In Pakistan 2024 Comparison
AvaTrade
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
Jemma Grist, Reviewer
AvaTrade Quick Facts
Bonus Offer | 20% Welcome Bonus up to $10,000 |
---|---|
GBPUSD Spread | 1.5 |
EURUSD Spread | 0.9 |
EURGBP Spread | 1.5 |
Total Assets | 50+ |
Leverage | 1:30 (Retail) 1:400 (Pro) |
Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Recently introduced AvaFutures offers an alternative vehicle to speculate on over 35 markets with low day trading margins
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- Day traders can access stable spreads and zero commissions with no hidden fees
Cons
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- There is no ECN account with raw spreads
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
Christian Harris, Reviewer
RoboForex Quick Facts
Bonus Offer | $30 No Deposit Bonus |
---|---|
GBPUSD Spread | 0.4 |
EURUSD Spread | 0.1 |
EURGBP Spread | 0.4 |
Total Assets | 30+ |
Leverage | 1:2000 |
Platforms | R StocksTrader, MT4, MT5, TradingView |
Account Currencies | USD, EUR |
Pros
- RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows day traders to maximize their trading potential, albeit with a corresponding increase in risk.
Cons
- Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their day trading activities and is available at firms like Fusion Markets.
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
Expert Option
"Expert Option will suit aspiring traders who want to access the financial markets through an options broker with a very easy-to-learn bespoke platform. The user-friendly day trading platform is clear and reliable."
Tobias Robinson, Reviewer
Expert Option Quick Facts
Bonus Offer | 100% deposit bonus |
---|---|
GBPUSD Spread | Variable |
EURUSD Spread | Variable |
EURGBP Spread | Variable |
Total Assets | 6 |
Leverage | N/A |
Platforms | Expert Option Web Platform |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, AED |
Pros
- There's a decent range of educational resources, including trading strategies, webinars and platform tutorials
- High payouts up to 95% are above the industry average
- Minimum deposits are low, starting from $10
Cons
- There's a very small list of binary assets with just 100 on offer compared to 1000+ offered by some competitors
- The broker doesn't offer any popular leveraged products such as CFDs
- The SVGFSA is a weak financial regulator with limited safeguarding measures
Exness
"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."
Tobias Robinson, Reviewer
Exness Quick Facts
GBPUSD Spread | 0.1 |
---|---|
EURUSD Spread | 0.0 |
EURGBP Spread | 0.4 |
Total Assets | 97 |
Leverage | 1:2000 |
Platforms | Exness Trade App, MT4, MT5, TradingCentral |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR |
Pros
- There's a strong range of account types for all experience levels and requirements, including Cent, Pro and Raw spread solutions
- There's excellent 24/7 multilingual customer support via telephone, email and live chat
- Exness is the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes
Cons
- There are no promotional deals or loyalty schemes for high-volume day traders
- Unlike most competitors, Exness doesn't provide its own education section
- There are several regional restrictions for retail traders including the USA, Europe and the UK
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Jemma Grist, Reviewer
Vantage Quick Facts
Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
---|---|
GBPUSD Spread | 0.5 |
EURUSD Spread | 0.0 |
EURGBP Spread | 0.5 |
Total Assets | 55+ |
Leverage | 1:500 |
Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
- It’s quick and easy to open a live account – taking less than 2 minutes
Cons
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- Unfortunately, cryptos are only available for Australian clients
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
Christian Harris, Reviewer
IC Markets Quick Facts
GBPUSD Spread | 0.23 |
---|---|
EURUSD Spread | 0.02 |
EURGBP Spread | 0.27 |
Total Assets | 75 |
Leverage | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
Cons
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Christian Harris, Reviewer
Pepperstone Quick Facts
GBPUSD Spread | 0.4 |
---|---|
EURUSD Spread | 0.1 |
EURGBP Spread | 0.4 |
Total Assets | 100+ |
Leverage | 1:30 (Retail), 1:500 (Pro) |
Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
XM
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
William Berg, Reviewer
XM Quick Facts
Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
---|---|
GBPUSD Spread | 1.9 |
EURUSD Spread | 1.6 |
EURGBP Spread | 1.8 |
Total Assets | 55+ |
Leverage | 1:1000 |
Platforms | MT4, MT5 |
Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins
- Accessible trading accounts with a $5 minimum deposit and fast account opening
- XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
Cons
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- There is weak regulatory oversight through the global entity
- PayPal deposits are not supported
Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
Christian Harris, Reviewer
Eightcap Quick Facts
GBPUSD Spread | 0.1 |
---|---|
EURUSD Spread | 0.0 |
EURGBP Spread | 0.1 |
Total Assets | 50+ |
Leverage | 1:500 |
Platforms | MT4, MT5, TradingView |
Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
- After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
- With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
Cons
- The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
PrimeXBT
"PrimeXBT is good for beginners looking to trade crypto derivatives among traditional assets like forex and indices. There's also a proprietary copy trading solution for novices looking to learn from more experienced investors. With that said, the lack of regulation means traders will receive limited safeguards."
William Berg, Reviewer
PrimeXBT Quick Facts
Bonus Offer | $100 Deposit Bonus |
---|---|
GBPUSD Spread | Variable |
EURUSD Spread | Variable |
EURGBP Spread | Variable |
Total Assets | 45+ |
Leverage | 1:1000 |
Platforms | Own |
Account Currencies | USD, EUR, GBP |
Pros
- Beginners can access a crypto trading Academy with bite-size resources and YouTube videos
- The broker offers 24/7 customer support via live chat, as well as an extensive help centre
- The broker’s platform and app offer advanced charting features, including 50+ technical indicators, a customizable layout and multiple order types including OCO
Cons
- The lack of reputable regulatory oversight is a security concern, though this is common in the crypto trading industry
- The total selection of 110+ assets is far fewer than top competitors, including OKX with 400+
- It’s a shame that there are no popular third-party platforms on offer such as MT4
How We Rate Forex Brokers In Pakistan
We focus on the following criteria when evaluating forex brokers, and recommend you do also:
Trust
Select a trusted broker to protect yourself from forex scams, which continue to make headlines in Pakistan.
In one example, reported by Pro Pakistani, a victim from Lahore lost millions of rupees after depositing money with two online trading platforms, Capital FX and Betfire, whose owners disappeared with his money.
Given that the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) do not actively regulate forex brokers, our advice is to choose a well-established platform licensed by a respected overseas regulator, such as the UK’s FCA or Australia’s ASIC. This is the best sign that a forex broker is legitimate. If you do, make sure you adhere to local tax rules in Pakistan.
- IG is the most trusted forex broker accepting traders from Pakistan. It has 50 years of experience in the forex industry and authorization from 7 ‘green tier’ regulators. Also, our experts have traded forex with real money on the IG platform and praise the superb trading environment.
Currency Pairs
Pick a forex trading platform with the currency pairs you’re interested in speculating on.
For traders in Pakistan, this may mean those containing the Pakistani rupee, such as USD/PKR, EUR/PKR and GBP/PKR, though our research shows these are not commonly available.
- Pepperstone is our top choice for its range of currency pairs, with 100+ assets including USD/INR and USD/SGD, plus currency indices rarely found elsewhere. Its 30ms execution speeds also make it perfect for forex day traders, helping it win our ‘Best Forex Broker’ award twice now.
Trading Fees
Select a forex broker with excellent pricing, especially if you’re an active trader, as frequent costs can cut into profit margins.
We regularly evaluate brokers’ spreads on popular currency pairs, minimum and average spreads where possible, plus any commissions and non-trading fees for converting Pakistani rupees to an account based in another currency, painting a comprehensive picture of costs.
We then balance these with the overall offering, from education to tools that provide insights into State Bank of Pakistan decisions that could impact currency prices, for example, identifying the platforms that deliver the best value for money.
- IC Markets has maintained its position as one of the cheapest forex brokers for years now, with remarkably tight spreads from 0.0, a $3.50 commission, plus rebates up to $2.50 per forex lot. Its superior execution also helps active traders secure the best prices in volatile FX markets.
Forex Platforms
Pick a platform or app you enjoy using with the features you need, notably an excellent charting package if you are forex day trading.
MetaTrader 4 and MetaTrader 5 have long been the choice for experienced short-term traders, who value the speed, advanced charts, and algorithmic trading power they offer. However, after more than 15 years, these platforms are showing their age with bland designs that I don’t find intuitive.
Alternatively, increasingly popular solutions like TradingView provide more appealing interfaces and integrated research tools, including Pakistani economic indicators, calendars and exchange rates.
![TradingView platform showing PKR forex rates](https://www.daytrading.com/wp-content/uploads/2024/04/TradingView-Platform-Pakistan-Currency-Rates.jpg)
- Vantage offers a fantastic selection of forex platforms, from MT4, MT5 and TradingView, to its own ProTrader that I love with its 100+ indicators, 50+ drawing tools and easily customizable workspace and advanced order types.
Account Funding
Choose a broker that supports fast and affordable payments via Pakistani rupees so you can focus on forex trading.
Findings from Graana.com reveal some of the most common online payment methods in Pakistan include wire transfers, Payoneer and MoneyGram. Statista also reports that Pakistan is embracing digital payments, which accounted for more than $15 billion worth of its payments in 2023.
- AvaTrade excels in its convenient, low-cost payment methods, including wire transfers and digital solutions like MoneyGram, catering to Pakistani traders. Its 100 USD minimum deposit, around 28,000 PKR, is also accessible for forex traders at all levels.
Methodology
To list the best forex trading platforms in Pakistan, we used our 500-strong directory of online brokers, filtered it by those accepting Pakistani traders and ranked them by their rating, which considers crucial factors, notably:
- A proven track record and authorization from a regulator if not Pakistan’s SECP.
- A great selection of currency pairs, including those of interest to Pakistani traders.
- Excellent pricing, especially for active forex traders.
- Terrific forex platforms and apps following testing.
- Convenient funding methods that work in Pakistan.
FAQ
Is Forex Trading Legal In Pakistan?
Trading forex is not prohibited in Pakistan so locals can register with online brokers, though remain vigilant against unauthorized trading firms.
Who Regulates Forex Brokers In Pakistan?
The Securities and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP) oversee the country’s financial services, but do not actively oversee local brokers, so many traders turn to international platforms. It’s important to check your local regulations and comply with tax rules in Pakistan if you do opt for an overseas broker.
Note that if your forex broker is not tightly regulated you may not receive adequate legal protections. Only risk what you can afford to lose.
How Much Money Do I Need To Start Trading Forex In Pakistan?
After evaluating around 500 forex brokers, our analysis shows you normally need up to 250 USD, or 70,000 PKR, to open a trading account.
That said, brokers like Pepperstone accept forex traders from Pakistan and excel for budget investors with no minimum deposit.
Recommended Reading
Article Sources
- Securities and Exchange Commission of Pakistan (SECP)
- State Bank of Pakistan (SBP)
- Lahori Man Falls Victim To Forex Scam - ProPakistani
- Islam in Pakistan - Wikipedia
- Online Payment Methods in Pakistan - Graana
- Digital Payments in Pakistan - Statista
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com