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Best Forex Trading Platforms In Pakistan 2024

Written By

Michael MacKenzie

Written By

Michael MacKenzie

Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.

» Michael MacKenzie Profile Page

Edited By

James Barra

Edited By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Fact Checked By

Jemma Grist

Fact Checked By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Updated

Apr 26, 2024

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.

5 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:

1. 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.
2. 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.
3. 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%.
4. 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.
5. 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.

Best Forex Trading Platforms In Pakistan 2024 Comparison

Best Forex Trading Platforms In Pakistan 2024 Comparison

Broker	Forex Assets	EUR/USD Spread	Forex App Rating	Minimum Deposit	Regulator	Islamic Account	Visit
	50+	0.9	4.3 / 5	$100	ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM	✔	Visit
	30+	0.1	3.3 / 5	$10	IFSC	✔	Visit
	6	Variable	4 / 5	$10	SVGFSA	✘	Visit
	97	0.0	4.4 / 5	$10	FSA, CySEC, FCA, FSCA, FSC, CBCS	✔	Visit
	55+	0.0	4 / 5	$50	FCA, ASIC, FSCA, VFSC	✔	Visit
	75	0.02	4.8 / 5	$200	ASIC, CySEC, FSA	✔	Visit
	100+	0.1	4.7 / 5	$0	FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB	✔	Visit
	55+	1.6	4.7 / 5	$5	ASIC, CySEC, DFSA, FSC, FSCA	✔	Visit
	50+	0.0	3.6 / 5	$100	ASIC, FCA, xCySEC, SCB	✔	Visit
	45+	Variable	3 / 5	$0	-	✘	Visit
	60+	14 pips	4.5 / 5	$10	-	✔	Visit
	80+	0.8	4.9 / 5	$0	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA	✘	Visit
	70+	1.58 pips (Ave)	2.5 / 5	$100	FCA, CySEC, FSCA, SCB, FSC	✔	Visit
	70+	0.2	3.4 / 5	$0	CySEC	✔	Visit
	67	0.70 pips (var)	3.9 / 5	$100	FCA, CySEC, ASIC, FSCA, FSC	✔	Visit

#1 - AvaTrade

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Review

Why We Chose 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.

"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."

- DayTrading Review Team

• 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, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

• Day traders can access stable spreads and zero commissions with no hidden fees
• The broker offers reliable 24/5 multilingual customer support with fast response times during testing
• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more

Cons

• It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
• There is no ECN account with raw spreads

Visit AvaTrade

#2 - RoboForex

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Review

Why We Chose 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.

"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."

- DayTrading Review Team

• GBPUSD Spread: 0.4
• EURUSD Spread: 0.1
• EURGBP Spread: 0.4
• Total Assets: 30+
• Leverage: 1:2000
• Platforms: R StocksTrader, MT4, MT5, TradingView

About RoboForex

RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.

Pros

• 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 two commission-free withdrawals each month in the Free Funds Withdrawal program, helping day traders to minimize transaction costs.
• 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

• RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
• 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.

Visit RoboForex

#3 - Expert Option

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Review

Why We Chose 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%.

"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."

- DayTrading Review Team

• GBPUSD Spread: Variable
• EURUSD Spread: Variable
• EURGBP Spread: Variable
• Total Assets: 6
• Leverage: N/A
• Platforms: Expert Option Web Platform

About Expert Option

Expert Option is an offshore broker that offers a simple and intuitive trading experience through a bespoke, user-friendly platform. Short-term traders can access 100 popular assets via binary options contracts with payouts up to 95%, free educational resources, and market data available to upper-tier account holders.

Pros

• The diverse range of account currencies and 20+ accepted payment methods allow for flexible funding
• There's a decent range of educational resources, including trading strategies, webinars and platform tutorials
• The broker offers an easy to use, beginner-friendly proprietary trading platform with 4 chart types and social trading features

Cons

• There's a very small list of binary assets with just 100 on offer compared to 1000+ offered by some competitors
• Very expensive $50 dormancy fee after 3 months of no trading activity
• The broker doesn't offer any popular leveraged products such as CFDs

Visit Expert Option

#4 - Exness

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Review

Why We Chose 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.

"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."

- DayTrading Review Team

• 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

About Exness

Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 260,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.

Pros

• Top-tier licensing with the FCA and CySEC and a strong reputation with over 10 years in business
• The broker is accessible for beginners with low minimum deposits from $10 and flexible payment methods
• Experienced strategy providers can open social trading accounts, with monthly commissions up to 50%

Cons

• There are no promotional deals or loyalty schemes for high-volume day traders
• There are several regional restrictions for retail traders including the USA, Europe and the UK
• Unlike most competitors, Exness doesn't provide its own education section

Visit Exness

#5 - Vantage

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Review

Why We Chose 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.

"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."

- DayTrading Review Team

• GBPUSD Spread: 0.5
• EURUSD Spread: 0.0
• EURGBP Spread: 0.5
• Total Assets: 55+
• Leverage: 1:500
• Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade

About Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

Pros

• The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
• Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
• The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders

Cons

• It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
• A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
• Unfortunately, cryptos are only available for Australian clients

Visit Vantage

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.

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.

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.

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.

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.

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:

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.

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.

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