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Best Pakistan Forex Brokers for 2020

Are you based in Pakistan and looking to trade forex online? Read our in-depth guide to find a forex broker in Pakistan.

Based in Pakistan and looking for the best online forex broker that serves your country? If so, there are now heaps of platforms that accept Pakistan residents, subsequently allowing you to choose a broker that best meets your trading needs. With that said, if you’re just starting out in the world of forex, knowing which broker to sign up with can be challenging.

In this article, we explore the best Pakistan forex brokers currently active in the online space. We cover key metrics such as regulation, Islamic swap accounts, supported payment methods and currencies, spreads, trading commissions, and more.

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    Our Recommended Pakistan Forex Platform

    Don’t have time to read our article in full and want to start trading straight away? If so, below we have listed out top-rated Pakistan forex broker. The platform in question offers Islamic swap accounts, commission-free trading, low fees, and heaps of everyday payment methods. You can start trading right now by clicking on the below link, opening an account, and depositing funds.

    Top Pakistan Forex Brokers

    Below we discuss our top five Pakistan forex brokers in-depth. We explore key factors such as the broker’s regulatory status, the number of forex pairs it supports, how much it costs to trade, and whether or not the platform offers a comprehensive research department.

    Note: Although you can deposit funds with a range of payment methods, none of the following brokers accept the Pakistani rupee. Instead, your deposit will be converted into US dollars. Thereon, your forex broker account will be denominated entirely in USD.

    1. Plus500 - Trusted Forex Broker with Low Spreads

    Launched in 2008, Plus500 is now one of the most trusted forex and CFD brokers in the online space. Not only is the broker regulated by ASIC, the FCA, MAS, and CySEC, but it's also publicly-listed on the London Stock Exchange. Plus500 allows you to get started from just $100, which is great if you want to trade with low stakes.

    Supported payment methods include debit/credit cards, Paypal, and bank transfers - and all deposits and withdrawals are free. When it comes to reading fees, Plus500 does not charge any commission when you buy and sell forex pairs. Instead, you are charged via the spread. This starts at 1.9 pips when trading majors, and increases quite dramatically when you engage with minors and exotics.

    Moreover, you'll need to be trading during standard market hours to get the minimum spreads. If you're also keen to trade non-forex assets online, Plus500 lists thousands of CFD products. This includes stocks, indices, cryptocurrencies, energies, and precious metals. It is important to note that Plus500 does not offer an Islamic swap account, so the broker won't be suitable if this is a minimum requirement of yours.

    Islamic Swap Account: No

    Assets: CFDs

    Demo Account: Yes

    Educational Material: No

    Fees: $10 Inactivity Fee, $0 withdrawal fees

    Minimum deposit: $100

    MT4/MT5: No

    Special Features: 2,000 trading instruments

    Regulation: CySEC, FCA, ASIC, MAS

    Payment methods: Credit/debit card, Paypal, Bank transfer

    • Minimum deposit of $100
    • Over 2,000 trading instruments
    • Mobile app available
    • No education material
    • No education material
    75% of retail investors lose money when trading CFDs with this provider.

    2. IG - Some of the Lowest Spreads in Forex

    IG is a global forex, CFD, and spread betting broker that accepts traders from Pakistan. The company was first launched in 1974, so it has a long-standing track record that now exceeds four decades. You'll be able to trade dozens of currencies at IG, with all major and minor pairs covered.

    The platform also lists a good number of exotics if you've got a higher appetite for volatility and risk. IG holds multiple regulatory licenses, which includes the FCA, ASIC, BaFin, and MAS. On top of a strong regulatory standing, IG is also notable for its low fees. Major pairs like EUR/USD can be traded at a spread of just 0.6 pips during standing market hours. GBP/USD and EUR/GBP are also competitive at just 0.9 pips.

    Moreover, the platform does not charge any trading commissions on forex, so it's just the spread that you'll pay. A slight drawback to using IG is that you will need to meet a $300 minimum deposit requirement. If you can, then you'll be able to deposit funds with a debit/credit card or bank transfer. Take note, IG charges 0.5% on MasterCard deposits and 1% on Visa. Finally, IG supports Islamic accounts.

    Islamic Swap Account: Yes

    Assets: Forex, Indices, Cryptocurrencies, Shares, Commodities

    Demo Account: Yes

    Educational Material: First-grade research department, fundamental news, technical analysis brokerage analysis

    Fees: 0.6 pips on EUR/USD and AUD/USD, no commissions on FX trading, deposit fee of 1% (Visa) and 0.5% (MasterCard)

    Minimum deposit: $300

    MT4/MT5: MT4

    Regulation: MAS, FCA, BaFin, ASIC

    Payment methods: Credit/debit card, Bank wire

    Our Rating

    • Regulated by heaps of notable licensing bodies
    • Highly customizable and easy to use trading platforms
    • Advanced charting features and tools such as the alert system for specific indicators and sentiment readings
    • Spreads much higher outside of standard trading hours
    • No e-wallet support

    3. FXTM - Regulated Forex Broker with Heaps of Payment Methods

    FXTM is a great option if you're looking for a regulated forex broker that offers heaps of everyday payment methods. This includes everything from debit cards, credit cards, e-wallets (Paypal, Skrill, Neteller), Dotpay, Yandex Money, and even Western Union. All payment options are free, and are usually credited within 2 hours.

    FXTM offers a good range of major and minor forex pairs within its trading suite, as well as a few exotics. You'll also get to choose from several trading platforms - including that of MT4 and MT5. Although FXTM supports Islamic accounts, this is not available on MT5. Spreads are super-competitive too, although you'll need to sign up for an ECN account to benefit from the lowest fees.

    At a minimum deposit of $500, ECN accounts offer spreads of just 0.6 pips on major pairs. If this is too much for you, then expect to pay more on other account types. In terms of its regulator standing, the broker is licensed in Cyprus and South Africa, and it's registered with a number of other bodies like the UK's FCA. Finally, FXTM offers an excellent research and analysis section, which covers handy educational videos and step-by-step trading guides.

    Islamic Swap Account: Yes

    Assets: Forex, cryptocurrencies, indices, commodities, CFD stocks

    Demo Account: Yes

    Educational Material: Educational videos, step-by-step trading tutorials, frequent analysis publications

    Fees: Major spreads of 0.6 pips via ECN account, €30 withdrawal fee for non-EU bank wires, free e-wallet withdrawals

    Regulation: Licensed by FCSA and CySEC - Registered with FCA, BaFin, CONSOB, and more.

    Minimum deposit: $500 on ECN accounts

    MT4/MT5: Both

    Payment methods: Credit/debit cards, Bank wire, Skrill, Neteller, Cryptocurrencies

    Our rating

    • Spreads from 0.6 pips
    • Supports e-wallets
    • Reguated by FCA and CySEC
    • Fees charged on most withdrawal options

    4. CMC Markets - Regulated Broker with 100+ Forex Pairs

    CMC Markets is a UK-based forex and CFD broker that offers accounts to Pakistani traders. Launched way back in 1989, the platform has an excellent reputation in the online brokerage space. This is further supported by its regulatory standing, with licenses issued in Australia, Canada, and the UK - among others. When it comes to the forex department, CMC Markets offers an extensive number of currencies.

    In fact, you'll be able to buy and sell more than 100 forex pairs across the majors, minors, and exotics. CMC Markets is also super-strong in the fee department, with spreads starting at just 0.7 pips on major pairs like EUR/USD. What we also like about CMC Markets is that unlike the other brokers we have discussed thus far, there are no minimum deposit requirements.

    This is perfect if you want to start off with really small amounts. You will be able to deposit funds via a debit card, credit card, or bank transfer, albeit, e-wallets are not supported. If you want to engage in risk-averse trading (which you should), CMC Markets allows you to install a 'guaranteed' stop-loss order at just $8 per $100k lot. Finally, the broker offers full support for Islamic swap accounts.

    Islamic Swap Accounts: Yes

    Assets: Forex, cryptocurrencies, indices, commodities, CFD stocks

    Demo Account: Yes

    Educational Material: Daily market commentary, forex-specific news, Trading Central

    Fees: Major spreads of 0.7 pips on EUR/USD, no minimum deposits, guaranteed stop-loss at $8 per $100k lot

    Minimum deposit: $0

    MT4/MT5: MT4

    Payment methods: Credit/debit card, Bank wire

    • Very competitive spreads
    • Highly rated trading platform
    • Top-notch research and education tools
    • KYC process is over-bearing

    How to Choose a Forex Broker in Pakistan

    If you’re looking to perform some independent research on your chosen broker prior to signing up, this makes sense, as you’ll be able to ensure that the platform is right for your personal trading requirements. As a result, we have listed some of the main factors that you need to check-off when researching a new Pakistan forex broker.

    • Islamic Accounts

    If you’re based in Pakistan and wish to use a broker that supports Islamic swap-free accounts, you’ll need to inquire before opening an account as not brokers offer this. In doing so, this will allow you to trade forex online while at the same time, remain fully compliant with your religious beliefs. This is because swap-free accounts ensure that you do not earn or pay any interest on your overnight positions.

    • Licensing

    The licensing body responsible for regulating Pakistan forex brokers is the Securities and Exchange Commission of Pakistan (SECP). With that said, traders are free to use brokers outside of Pakistan, and they do not need to hold a license with the SECP. The best online forex brokers are regulated by tier-one bodies such as the UK’s FCA or ASIC in Australia. Crucially, just make sure that your chosen broker holds at least one regulatory license.

    • Forex Pairs

    You will also need to think about the types of forex pairs that you wish to trade. For example, are you looking to buy and sell popular pairs like EUR/USD and AUD/USD, or are you more interested in volatile exotic currencies? Either way, we would suggest checking the broker’s website to see what currencies it supports prior to signing up.

    • Payment Methods

    Most brokers active in the online forex space will offer the choice of a debit/credit card or bank wire. Some will also support popular e-wallets like Paypal and Skrill. You should check the broker’s website to see what payment methods it supports to ensure you can deposit funds with ease. Also, check what deposit/withdrawal fees and account minimums apply.

    • Trading Commissions

    Most of the Pakistan forex brokers listed on this page allow you to trade forex commission-free. With that said, some brokers do charge commission, so be sure to check what this amounts to before opening an account. In most cases, this is charged as a percentage against the size of your order.

    • Spreads

    Even if your chosen broker does allow you to trade on a commission-free basis, you will always need to pay a spread. This is the difference between the ‘buy’ price and ‘sell’ price of a currency pair. Some of the brokers listed on this page offer spreads of less than 1 pip on major pairs.

    • Trading Tools and Research

    Trading tools allow you to analyze historical chart patterns. This includes technical indicators like Bollinger Bands and the RSI. It’s also a good idea to see whether or not the broker offers fundamental news analysis and educational resources like videos, webinars, and step-by-step guides.

    • Customer Support

    It’s also important to assess the broker’s customer service department. For example, what hours do the customer service team operate, and what channels are supported? We prefer Pakistan forex brokers that operate a customer support department 24 hours per day, across live chat, telephone, and email.

    Leverage at Pakistan Forex Brokers

    Although it is perfectly acceptable to use an overseas forex broker that is not related by SECP, the regulator has imposed limits on the amount of leverage that Pakistani retail traders can apply. This stands at a limit of 10:1 – regardless of whether you are trading majors, minors, or exotics.

    As such, a $100 deposit would permit a maximum trade size of $1,000.  The only way around the limitations imposed by SECP is if you are a professional trader. If this is the case, you will need to provide a number of documents to prove your status as a non-retail client.


    In summary, there are now hundreds of online brokers that accept traders from Pakistan. Not all brokers are legitimate entities, so it’s crucial that you only choose a platform that is regulated by a tier-one licensing body. This doesn’t need to include the SECP per-say, so you’re more than welcome to use a forex broker that is based overseas.

    With that said, it’s also important to look at other factors before joining a new platform – such as spreads, commissions, research, and trading tools. You also need to check whether or not an Islamic swap-free account is supported, if this is something that you require.

    If you don’t have the time to research a Pakistan forex broker yourself, we would suggest using one of the pre-vetted platforms that we have recommended on this page.


    Are Pakistan forex brokers safe?

    Not all online forex brokers can be trusted, so it's crucial that you only sign up with a platform that is regulated. This should include key licensing bodies like the FCA, ASIC, and CySEC.

    What leverage limits do Pakistan forex brokers offer?

    As per the regulations outlined by SECP, forex brokers can only offer leverage of up to 10:1 to Pakistan traders. This is the case across the majors, minors, and exotics.

    Do I need to use a broker that is regulated by SECP?

    Although SECP is responsible for regulating forex brokers in Pakistan, you are not required to use a SECP-licensed platform. As such, you are free to sign up with an overseas forex broker.

    What is the minimum deposit amount at Pakistan forex brokers?

    Some Pakistan forex brokers do not install a minimum deposit amount, which is perfect if you want to start off with really small stakes.

    What payment methods do Pakistan forex brokers support?

    Most forex brokers will support a debit card, credit card, and bank wire. Some of the brokers listed on this page also provide support for e-wallets like Paypal.

    Forex brokers by country


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