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Best Forex Brokers Pakistan 2020

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Business24-7.ae has spent years refining its forex broker assessments and is now the leading broker comparison site in the Middle East and South Asia. Throughout the year, we conduct regular analyses of the forex brokers in these regions, and we are now the go-to resource for beginner and experienced traders alike. Find out more about our testing approach.

Which Are the Best Forex Brokers in Pakistan in 2020?

From our library of broker reviews, we compiled our list of brokers available to residents of Pakistan. Before producing our final ranking, we wanted to make sure our country data was completely up to date. In that spirit, our team of researchers then spent two months checking for any recent changes to the features and services available to forex traders in Pakistan.

But let’s get to the heart of the matter. Here are the best forex brokers in Pakistan that made our top 8:

  • eToro – Best overall offer
  • Swissquote – Best banking services
  • Saxo Bank – Best VIP client experience
  • Interactive Brokers – Best for professionals
  • FxPro – 4.0 Stars
  • XM Group – 4.0 Stars
  • XTB – 3.5 Stars
  • Pepperstone – 3.5 Stars

TRADING PLATFORM

BENEFITS

ASSETS

PLATFORMS

FUNDING 

BONUS

etoro-logo

- Forex, Metals
- Oil, Commodities
- Indices, Stocks
- ETF's, Gold
- Cryptocurrencies

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers
- Skrill

40%

swissquote-logo

Quality platform:
Highly regulated
Beginners friendly
Arabic/english support
- Low spreads from 0 pips
- 57 Currency pairs
- 500:1 Max leverage
- 25% bonus on first deposit

- Forex
- Indices, Energies
- Stocks/ Live Stocks
- Cryptocurrencies
- Commodities
- ETF's, Bonds
- Precious metals

+ Mobile App
+ MetaTrader 4
+ MetaTrader 5
+ WebTrader

- Credit cards/debit cards
- eWallets
- Wire transfers

a$30 - No deposit required

Saxo-bank-logo

Highly sophisticated platform:
- easy to use
- perfect for beginners
- demo account for training purposes
- lots of different financial instruments
- Great research tools

- Forex, Metals
- Oil, Commodities
- Indices, Stocks
- ETF's, Gold
- Cryptocurrencies

+ Mobile App
+ Web Trader

- Credit Card
- Wire Transfer 
- Skrill, Qiwi
- WebMoney 
- CashU

/

Interactive-Brokers-logo

- Global forex and CFD broker

- over 84 currency pairs and 230 CFD's

- Part of the GAIN Capital holding

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

 - Credit /debit cards
- Bank transfers

/

fxpro-review-1

Solid platform:
- Allows Hedging
- Offers MT4
- Offers social trading
Offers mobile trading apps
- Allows scalping
- Accepts credit cards

- Forex
- Indices
- Stocks
- Crypto
- Commodities
- ETF's

+ Mobile App
+ Web Trader

- Credit /debit cards
- Paypal
- Bank transfers

/

XM-logo

- Global forex and CFD broker

- Easy to use trading platform

- Powerful research tools

- Fast account opening

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers

/

xtb_logo-white

- UK Based forex and CFD broker

- Easy to use trading platform

- Powerful research tools

- Low trading fees

- Forex

- CFD's

+ Mobile App
+ Web Trader
+ MT4

- Credit /debit cards
- Paypal
- Bank transfers

/

pepperstone-logos

Solid platform:
- AUD 200 account minimum
- from 0.0 peep fee
- Highest quality for Australian traders

- Forex, Indices
- Stocks/Live Stocks
- Cryptocurrencies
- Commodities

+ MetaTrader 4
+ MetaTrader5
+ Webtrader

- Credit cards/debit cards
- Bank transfer

5%

etoro-logo

eToro - Best Overall Offer

eToro is an established social trading company, operating since 2007. It is an FCA regulated entity when operating in the UK, an Australian entity in Australia, and a Cypriot entity for international customers.

In our review eToro has been awarded as the best social trading platform - social trading means you can follow other traders and copy their investment strategies.

client-swissquote-landscape-image-2019-jul-12

Swissquote - Best Banking Service

Swissquote is a trustworthy and well-regulated online broker, operating with two units. Its Swiss unit offers, among others, stock, features, funds and options while the London-based unit is specialized in Forex and CFDs trading.

From the results in our review, we would recommend this platform to users looking for fast deposit and withdrawal + great research tools.

Saxo-bank-logo

Saxo Bank - Best VIP client experience

If you are a trader that can afford a minimum deposit of USD 10,000 (or GBP 500 for the UK), an excellent forex broker for you is Saxo Bank. Saxo Bank stands out since it provides a unique trading platform, competitive prices, professional research, more than 40,000 trading instruments, and outstanding customer service.

In our review we also liked the incredible pricing on the platform and the exclusive SaxoTraderGO flagship platform. You will get everything you need to perform well in the market.

Interactive-Brokers-logo

Interactive Brokers - Best For Professionals

In our 2020 review, Interactive Brokers has ranked second overall because of its vast array of tools for advanced investors that track global investing trends.

The firm can connect to any global electronic exchange, which means trading futures, equities, and options around the world is easy and straightforward, whether from your mobile device or your desktop.

Even though Interactive Brokers is an excellent advisory, new investors may find its extensive capabilities to be overwhelming and distracting, and we recommend that they start trading somewhere else.

fxpro-review-1

FxPro

Founded in 2006, FXPro operates in the United Kingdom and is in the spread betting and CFD market. In 2017, Global Brands Magazine voted FXPro as the most trusted Forex brand in the UK.

FXPro has more than 870,000 clients in 173 countries. The DFSA, FSCA, SBC, FCA, and the CySEC all participate in the regulation of FXPro.

  • Easy-to-understand pricing
  • News in Realtime
  • Large product offering
XM-logo

XM Trade

XM.com is part of a much larger organization called the Trading Point of Financial Instruments UK Limited. This organization created the exam group in 2009, which then founded XM.com, which is now one of the best established and well-known investment firms in the world.

With over 1.5 million clients in 196 countries, the XM forex global company focuses on three core principles:

Be big, Be fair, Be human.

xtb-trading

XTB Trading

XTB is primarily a CFD and forex broker regulated by the most trusted financial regulators including the FCA and is also listed on the Warsaw stock exchange.

We would recommend this platform to users looking for fast deposit and withdrawal + great research tools.

pepperstone-logo

Pepperstone

Since opening its doors in 2010, Pepperstone Group has become one of the best brokerages in the Australian financial industry. They have built a full-featured trading portal with highly competitive benefits that focuses on indexes, Forex, and commodity instruments.

A wide variety of web-based, desktop, and mobile trading platforms accessible by multiple account types is attractive to novice traders.

Is Forex Trading Legal in Pakistan?

Despite what many may claim, forex trading is legal for Pakistan residents. In fact, Pakistan has become something of a hotbed in recent years. With the country’s economy continuing to mature, forex trading has taken off to match. However, regulation has not been so quick to catch up.

As a result, no authorisation is required from the Securities and Exchange Commission of Pakistan (SECP) for forex brokers wishing to sign up Pakistan residents as customers. Put another way, the SECP are unable to help you in the event that you are the victim of a forex scam.

This lack of oversight heightens the need for traders residing in Pakistan do the necessary research to ensure that the broker they are using is legitimate. That is why we recommend that you restrict your choice of brokers to those based abroad.

Since most of the activity available to Pakistani traders can be found on the Tokyo forex exchange, this tends to be a popular choice. Beginners are advised to start trading the dollar against the euro or Japanese yen since these pairs have strong liquidity.

If you are based in Pakistan and looking for the best forex trading brokerage available to you, you’re in the right place. Read our reviews, open your account through us and you’ll be up and trading in no time.

Forex Trading Regulation in Pakistan

The SECP serves as Pakistan’s financial regulatory agency. Set up on New Year’s Day in 1999, the SECP is headquartered in Islamabad and has regional offices all over Pakistan. To get a better overview of the SECP, take a look at their Investors page and their FAQs. There you will see it was restructured from its previous incarnation as the Corporate Law Authority. Its current mandate is regulation of the capital market and corporate sector, the supervision and regulation of insurance company, private pension schemes, other non-bank finance entities, and oversight of credit rating agencies and other providers of services to the corporate industry. Unfortunately, since foreign exchange is not regulated in Pakistan, an appropriate framework is not in place.

However, they will assist with any enquiries you have to check on a broker’s legitimacy. That’s why we suggest that residents of Pakistan start following their main social media channels:

LinkedIn: https://www.linkedin.com/company/secp

Twitter: https://twitter.com/SECPPakistan

Best Forex Brokers for Pakistan Residents?

Why not start using our forex broker tool now to compare the forex brokers available to traders living in Pakistan? Each broker is ranked in accordance with our methodology, where you can find a deep dive into our systems and approach.

Learn more about forex

How to start trading forex as a beginner

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Our Methodology

We took the time to analyze and compare the top 30 international trading platforms in 2020. So, each firm received its review based on 105 distinct variables and more than 50,000 words of research.

Keep in mind that broker involvement was optional. Each broker had the option to provide a detailed profile and offer adequate time for a yearly update meeting. This opportunity came with two possibilities: giving information over the web or live in person.

We checked all the information provided by brokers with a lot of attention to details. Our purpose was to offer you access to reliable, accurate, and well-researched data. Our validation process comes with less than a 1% error rate per year, as all the reviews we share come with a focus on quality and not quantity.

Our Mission

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

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