Forex Brokers in Pakistan

Richard Montana | November 24, 2022

Forex trading in Pakistan is popular amongst residents who are looking to buy and sell currencies to speculate on the fluctuating currency market prices. Whilst international forex brokers can accept traders in Pakistan as clients, forex brokers in Pakistan are required to become authorised by the Securities and Exchange Commission of Pakistan (SECP). The Securities and Exchange Commission of Pakistan is the financial regulatory agency in Pakistan whose objective is to develop a modern and efficient corporate sector and a capital market based on sound authority principles,

Best forex brokers Pakistan

To find the best forex brokers in Pakistan, we created a list of all the forex brokers that can accept traders in Pakistan and then ranked them based on our overall rating. You can see our list of our top forex brokers for Pakistan below.

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA

$100

2006

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA

$250

1974

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$200

2010

1:400

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
4.

ASIC, CySEC, DFSA, IFSC

$5

2009

1:888

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
5.

ASIC, CySEC, FSA, SCB

$200

2007

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

SECP forex brokers in Pakistan

Forex trading is both halal and haram, depending on the intent and behaviour of the individual investor. Trading with a proper strategy and Islamic account is halal, whereas with a regular interest charging account and no system, it’s considered gambling and haram.

Forex trading is legal and regulated by the Securities and Exchange Commission of Pakistan (SECP) which was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997.

SECP recognizes the strategic importance of investors’ education to create financial literacy for protection of investors’ rights as well as to raise their financial capability in order for them to make informed investment decisions. Investors’ education not only enhances investor sophistication but also helps regulators and financial service providers to maintain market discipline.

The SECP was initially responsible for the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc.

It also educates investors on strategies to mitigate risks associated with various investment products, engendering investor’s confidence and leading to an effective investor’s protection regime.

Despite national regulations from the Securities and Exchange Commission of Pakistan (SECP) intended to cut down on the amount of fraud and money laundering, many local brokers aren’t registered with the SECP.

How to verify SECP regulated brokers in Pakistan

You can find an authorised broker’s license number from the disclosure text at the bottom of their homepage. You can then look up the authorisation number on the SECP website to confirm if the forex broker is regulated in Pakistan to provide online forex trading products and services.

Some Pakistan forex brokers are regulated in more than one jurisdiction so that they can offer a different range of trading accounts and conditions depending on the location of the trader and regulated entity that they choose to open a forex trading account with.

About the Author

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Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.


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