Listing the Best Forex Brokers in Pakistan for 2020

Pakistan Forex BrokersEvery year Forex trading becomes an increasingly popular activity. The foreign exchange market is the largest financial network in the world, where millions are involved, and a considerable amount of money is circulated every day.

When the Forex was still its infancy, it was western countries that provided the vast choice in Forex brokers. As time passed, African, Asian and Middle-East countries also prevailed. Right now, you can encounter many Forex brokers in countries like Nigeria, Ghana, Malaysia and Pakistan. Pakistani Forex brokers, in particular, managed to make a huge leap towards advancement.

The latter managed to establish itself as one of the most popular Asian countries in terms of Forex trading. It is still developing, and almost every month, new Forex brokers emerge in the country. Pakistan has seen a huge growth in Forex Trading over the past 6 years. It has been immensely popular over the years, although, much of the news has been around regulation of Foreign exchange trading by the SBP (State Bank of Pakistan).

The Securities and Exchange Commission is the main regulatory body of financial activities in the country. What makes the Forex trading more attractive in the country is the fact that there are almost no restrictions whatsoever in Pakistan. Brokers accept in dollars, and mostly the trading is transparent and regulated.

best Pakistan brokers

Trusted Forex Brokers in Pakistan

When it comes to choosing the top Pakistani Forex trading brokers, a license should be the first thing you should look for. Considering the fact that state religion in Pakistan is Islam, you might come across complications, since the laws in Islam are strict when it comes to finances. But it should be said that the environment in the country is still comfortable for everyone who wishes to start trading.

It is always a good idea to look for the brokers that are regulated and licensed by the Securities and Exchange Commission of Pakistan, which is the main regulatory entity in the country.


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The Securities and Exchange Commission of Pakistan

As has already been mentioned above the main regulatory authority in Pakistan is the SECP. It became operational on January 1, 1999, and the mandate of the SECP includes the following:

  • Regulation of corporate sector and capital market
  • Supervision and regulation of insurance companies
  • Supervision and regulation non-banking finance companies and private pensions schemes
  • Regulation of Forex brokers in Pakistan
  • Oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors, etc.

Pakistan Forex brokersThe Securities Act, which was adopted in 2015, is the main document under which the SECP imposes regulations on Forex brokers in Pakistan.

The Pakistan Securities and Exchange Commission (SECP) is the financial regulatory authority in Pakistan whose goal is to develop a modern and efficient corporate sector and capital market based on sound power principles to stimulate investment and promote Pakistan’s economic growth and prosperity.

A brief history

The Pakistan Securities and Exchange Commission (SECP) is the successor to the former Corporate Law Authority (CLA), which was affiliated with a department of the Ministry of Finance. The CLA restructuring process was launched in 1997 as part of the Asian Development Bank (ADB) capital market development plan. Securities and Exchange Commission, The law of Pakistan, was adopted by parliament and promulgated in December 1997. In accordance with this law, the SEC, which had an autonomous status, began to function since January 1, 1999. The law gave the organization administrative power and financial independence to implement the Pakistan capital market reform program.

The mandate of the SECP has expanded widely since its inception and spread to new Pakistan Forex brokers. The insurance sector, non-bank financial companies, and pension funds, which were added to the competence of the Commission. Besides capital investments, corporate sectors, and other financial issues, the SECP is widely involved in things regarding Forex trading.

Foreign Exchange Regulation Act, 1947

The Act which was adopted in 1947, regulates payments and dealings in foreign exchange and Securities, as well as, import and export of the currency. Under the act, the party should be authorized by the State Bank of Pakistan, and it also has the right to revoke authorization of any foreign dealer.

Pakistani Forex BrokersHow to find Pakistani registered brokers?

In Pakistan, there are not many brokers that are regulated by the SECP, which makes finding a reliable Forex broker a huge problem. However, in some cases, it is advisable to have business with international Forex brokers, that already have experience in the field.

In general, when it comes to making sure if the Forex trading brokers for Pakistanis is really regulated by a particular regulatory body there are several things that you can do to eliminate all the possibilities of misunderstanding. Note that thorough attention and exploration is the key to protect yourself from scams.

The first thing that you can do is go directly to a broker’s website and check the license manually through the registered companies. Generally, the license is shown at the very bottom of the page – it should be clear and concise that a specific regulatory entity regulates a broker. If it seems to be obscure, or some details are missing, then you should think that broker is trying to deceive you.

Sometimes the information about the license is in the section of Terms and Conditions so always conduct careful research, especially when it comes to licenses.

The second thing you can do is to contact the regulator, whether the license is still active or not. The Securities and Exchange Commission of Pakistan encourages all customers to have business with legit Forex companies in Pakistan and have direct contact with them so that they can avoid complications. When you contact a high-authority entity, you are always sure that they will not trick you and provide you with the proper information.

Finally, even though this method is not 100% accurate and can sometimes provide wrong results, there is nothing wrong with trying it. You can contact a Pakistani broker directly, through their website and find out whether they have different brand names or subsidiaries registered with the regulator. Yet, you might become a victim of a scam – they can easily trick you. But if you discover that a company really does have other subsidiaries, then it is clear that a company has high-authority and you should not back down from having business with a broker.

There are various methods as well that people use, which are beneficial for identifying Pakistan regulated Forex brokers, but the abovementioned three are the most efficient and guarantee the best results.

One thing you should always look for when you are searching for Pakistani registered Forex brokers, especially in times where technology plays a huge role, is the “impersonation” of Forex brokers. A broker might have a license and everything in accordance with the regulator, but sometimes there is a change of one letter in the name of a broker, which is a sign of fraud. Dishonest people can look for every possible way to drain money from you, so do not be too naive and investigate things carefully.

How does the SECP prevent FX scams in Pakistan?

Scams are not new in the Forex industry and Pakistan. There was a case in 2008 when the government charged Khanani and Kalia International CEO for illicit transferring of funds from Pakistan to Afghanistan.

The SECP always tries to warn traders about the dangers and schemes, that dishonest Forex brokers pose; however it does not prevent illegal brokers from doing business. Even though the SECP listed Forex brokers are prevalent and the regulator takes all the measures to eradicate the operation of illegal Forex brokers from Pakistan completely, somehow they still manage to maintain the position.

However, a broker might not be registered under the SEPC but it is not always a problem. International brokers enjoy high popularity among the traders, so sometimes the absence of a national licensee is not always an indicator for a dishonest broker.

Forex brokers Pakistan

Pakistan licensed forex brokersWhat should you look for in Pakistani Forex brokers?

Every field has its specified set of rules that serve as a guideline for people interested in it. The same goes for the Forex industry – there are several requirements you should pay attention to find a reliable Forex broker in Pakistan, and we will closely examine each of them.

Broker reliability

This item should be given maximum attention. In addition to the fact that the company provides brokerage services to its customers, it is partly responsible for the safety of the money deposited in users’ accounts.

You should look for a broker who will give you specific guarantees of the safety of your funds on the exchange.

How to find such a broker? First of all, it is worthwhile to understand that the phrase “reliable broker” means a number of important criteria that together form a general idea of ​​the broker. Consider them all: the prestige of a company. The concept is quite extensive; however, it is still possible to summarize information about the broker and find out its authority.

Do not look for information on the broker’s website or re-read all reviews. They will always write about a reliable dealer in specialized forums, tell them in the media, add the best to the rating, etc.

The main thing to find the SECP approved Forex brokers is discovering a source that you trust. To play in the financial markets, successful traders use the services of only reliable companies. Look where they trade and draw conclusions.

best forex brokers in PakistanThe age of the company

Choose a broker that carries out its activities for the maximum amount of time. Unfortunately, this item does not always give an objective assessment.

Regulator License

The activities of brokerage companies are strictly controlled by special regulators that issue licenses. Each country has its own regulatory authority, and in the case of Pakistan, you should look for the SECP regulated brokers.

How to find and verify a broker license? We have already talked about that in the previous section, and the best way is to contact a regulator.


When concluding a contract for trading on the exchange, specify the broker’s insurance liability. An encouraging signal will be the cooperation of the SCPE regulated Forex brokers with major world banks.

You can also use a ready-made rating. They can be found in economic magazines, reputable web portals, etc.

Minimum deposit

At first glance, the size of the minimum deposit is really important. If you have a limited budget for playing Forex or you want to test a broker, then this item will matter. On the other hand, many companies with good trading conditions prefer large players. There is nothing wrong with such a broker policy.

It is always worth remembering that Forex trading is highly profitable earnings with high risks. Perhaps you should prefer a demo account than a broker with a minimal deposit and poor conditions.

Broker Commissions

For traders of any caliber, this indicator is key. The spread is divided into fixed with floating. You pay the spread both for losses and for profit. It is worth noting that the best Pakistan brokers commission differs from each other.

If a broker charges a commission for trading operations, then the Forex dealer’s earnings are based on the difference between the purchase/sale prices.

Information support

Information plays an important role in trading on the exchange. Trading on the economic calendar is unthinkable without the latest news. Many traders do not know how to find information for market analysis.

  • The broker is ready to help traders and provide:
  • latest news;
  • economic calendar;
  • reviews and analytics from professionals;
  • forecasts;
  • Training program

For beginners, it is recommended that when looking for a reliable broker, pay attention to the availability of training programs and materials. It is beneficial for a broker to educate his clients.

As a rule, a large and reliable broker is ready to provide:

seminars and webinars;

training videos;

individual sessions;

The presence of a demo account is a prerequisite.

Deposit/Withdrawal of funds

The speed of withdrawing and crediting funds on a deposit ideally characterizes all of the brokers, included

in Pakistan Forex brokers list. All large companies withdraw money as soon as possible without delay. To play in the financial market, there must be a variety of input/output methods.

The best brokers, in addition to standard payment systems, are ready to offer their customers bank cards with special conditions.


If you are an experienced trader or have a limited budget for transactions on the exchange, then pay attention to the amount of leverage. The best brokers are ready to offer a ratio from 1:1 to 1:300 or more. When choosing a ratio, build on your trading strategy.

Site functionality

The site should always work properly and be convenient to use. Always pay attention to the platform. Brokers, in addition to the popular MT4 and 5 platforms, are ready to offer their own developments. The trading platform should be stable. The trader should be able to conduct technical analysis in the trading terminal.

Trading instruments and types of accounts

The final profit of the trader depends on the variety of trading instruments. How to trade with Pakistan Forex brokers that offer the best conditions? When visiting the site of a brokerage company, pay attention to the list of trading instruments, the best of them offer to trade: quotes, stocks and futures, precious metals.

The presence of several types of accounts allows the trader to choose the best conditions for future trading. You should also look for a broker with support for cent accounts.

Technical support

Support should be around the clock. If the broker in Pakistan is an international class, then support is provided in several languages.

The bottom line

So here comes our verdict of the Forex trading in Pakistan. In general, the field is still fresh in the country, so it is always a good idea to find out more information about brokers and providers so that you do not become a victim of a scam. The main regulatory body in the country, which is the SEPC tries everything to eradicate the activities of illegal brokers; however, the list of unregistered brokers in the state is still a lot.

Pakistan Forex brokers regulation certainly deserves attention, and they provide a fertile ground for traders.

If you are looking to start trading in Pakistan, then take into consideration the provided information and conduct thorough research by yourself. Also reading various reviews and feedbacks from the experts of the industry will certainly be beneficial, and it will assist in finding the best broker in Pakistan.

Forex is growing every day – it is a field that develops rapidly, so the events have a massive impact on trading in Pakistan.