Looking for the best forex brokers in Pakistan? If yes, then you’re in the right place, because we have written this comprehensive guide with the aim to help you choose a broker that meets your trading objectives.
Ranking Methodology – While testing and ranking the best forex brokers in Pakistan, some of the critical factors which influenced our judgments include regulatory compliance and safety, product offering, execution model, execution speed, assets offered, trading cost (trading and non-trading fees), trading platforms provided, research offering, education offered, and customer support service.
Table of Contents
Best Forex Brokers in Pakistan
Following our in-depth review and ranking process, here are the best forex brokers in Pakistan;
- IG
- Exness
- IC Markets
- FBS
- XM
1. IG
IG is a reputable global online broker and one of the largest CFD providers in the world in terms of revenue and trade volume. It was established in 1974 by IG Group plc, a publicly-traded company on the London Stock Exchange and a constituent of the FTSE 250 Index.
IG offers CFD trading across a wide variety of global markets, including forex, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs with over 18,000+ instruments to trade. It also offers stock broking and spread betting (in the UK and Ireland).
Along with a wide array of global markets, IG also standouts for offering exceptional brokerage solutions which include deep liquidity, fast trade execution, competitive pricing, fast and secure payment methods, volume-based rebates, industry-standard trading platforms (proprietary and third-party), dedicated customer support service, and much more.
Suitable For – Beginners, professionals, advanced traders, active traders, investors, high-volume traders, institutions, and algorithmic traders.
IG Highlights
| Broker Overview | IG |
|---|---|
| Regulation | CFTC, FCA, ASIC, FCA, FINMA, FMA, MAS, FSA, FSCA, DFSA, and BMA. |
| Forex Pairs | 81 Currency Pairs |
| Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
| Minimum Deposit | $300 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:222 |
| Account Currencies | USD, GBP, AUD, EUR, SGD, HKD. |
| Payment Methods | Bank Wire Transfer, Credit/Debit Cards, Paypal |
| Trading Tools | APIs, Virtual Private Server (VPS) |
IG Pros and Cons
| CONS | PROS |
|---|---|
| Strong regulatory framework. | Inactivity fee charged (after two years of inactivity). |
| Listed on the stock exchange. | |
| 45+ years of industry experience. | |
| 313,000+ clients worldwide. | |
| Volume-based rebates for high-volume traders. | |
| Industry-standard trading platforms. | |
| Low forex trading fee | |
| Excellent educational offering for beginner, intermediate and advanced traders. | |
| Outstanding research offering. | |
| Excellent customer support service. |
2. Exness
Exness is a global, award-winning online broker established in 2008 by Nymstar Limited, a global brand popularly known for its partnership with Real Madrid. It has a vast client base of over 350,000+ active traders and is one of the largest forex brokers in the world, with a tremendous monthly trade volume of over $2.7 Trillion.
With Exness, you can trade CFDs across various global markets, including forex, indices, metals, cryptocurrencies, energies, and stocks, with over 1200+ instruments to trade.
Some of the outstanding brokerage service traders can enjoy with Exness includes deep liquidity, fast trade execution, industry-standard trading platforms, high Leverage (up to 1:3000), low forex trading fee, multiple fast & secure payment methods, instant fund withdrawal, free VPS hosting and excellent customer support service.
Suitable For – Beginners, professionals, active traders, low-cost trading, scalping, and algorithmic trading.
Exness Highlights
| Broker | Exness |
|---|---|
| Regulation | FCA (United Kingdom), CySEC (Cyprus), FSA (Seychelles), CBCS, FSC(BVI), FSCA (South Africa) |
| Forex Pairs | 120+ |
| Trading Platforms | Metatrader 4, Metatrader 5 |
| Account Types | Standard Account, Standard Cent Account, Raw Spread Account, Zero Spread Account, and Pro Account. |
| Minimum Deposit | Standard Account – $1 Standard Cent Account – $1 Raw Spread Account – $200 Zero Spread Account – $200 Pro Account – $200 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:Infinity |
| Account Currencies | AUD, USD, GBP, EUR, SGD, CAD |
| Payment Methods | Bank Wire Transfer, Credit/ Debit Cards, Skrill, Neteller, WebMoney, PerfectMoney, Bitcoin, and Tether. |
| Trading Tools | Analytical Tools, Investment Calculator, Economic Calendar, Currency Converter, Tick History, VPS Hosting, and Trading Central WebTV. |
Exness Pros and Cons
| PROS | CONS |
|---|---|
| Strong regulatory framework. | Its product offering is limited to CFD trading only. |
| Hassle-free account opening process. | |
| Multiple industry standard trading platforms in web, mobile, and desktop versions. | |
| High Leverage (up to 1:3000). | |
| Multiple account types. | |
| Low forex trading fee. | |
| Offers the highest forex leverage in the industry. | |
| Multiple fast and secure payment methods. | |
| Offers instant withdrawals. | |
| Excellent customer support service. |
3. IC Markets
IC Markets is a leading global online broker and one of the world’s largest forex providers by trade volume (with over 29 Billion USD in FX trades processed daily). It offers CFDs on various global markets, including forex, stocks, commodities, indices, cryptocurrencies, bonds, and futures, with over 2250+ instruments to trade.
With IC Markets, traders can enjoy a plethora of top-notch trading services, including, low trading fees, multiple fast and secure payment methods, fast trade executions, deep liquidity, advanced trading platforms, adequate support for algorithmic trading, and 24/7 customer support service.
Suitable For – Beginners, professionals, low-cost trading, active traders, high-volume traders, scalping, and algorithmic trading.
IC Markets Highlights
| Broker | IC Markets |
|---|---|
| Regulation | ASIC, FSA, and CySEC. |
| Forex Pairs | 61 Currency Pairs |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Minimum Deposit | $200 or currency equivalent. |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF. |
| Payment Methods | Credit and debit cards, Paypal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Rapidpay, Thai internet banking, and Vietnamese internet banking. |
| Trading Tools | Virtual Private Server (VPS), Trading Servers, MT4 Advanced Trading Tools |
IC Markets Pros and Cons
| PROS | CONS |
|---|---|
| Strong regulatory framework. | No proprietary trading platform is offered. |
| Quick account setup. | |
| Over 180,000+ clients across 190 countries worldwide. | |
| Multiple industry standard trading platforms in web, mobile and desktop versions. | |
| Offers swap-free account. | |
| Low forex trading fees across all account types. | |
| Multiple fast and secure payment methods. | |
| The demo account has an unlimited usage duration. | |
| No inactivity fee is charged. | |
| Excellent customer support service, available 24/7. |
4. FBS
FBS is a global award-winning online broker established in 2009. It has maintained a tremendous reputation amongst traders over the years and has amassed a huge client base of over 23 million active traders in 190+ countries worldwide.
FBS offers CFDs across various global markets, including forex, stocks, indices, metals, energies, and cryptocurrencies, with over 150 instruments available to trade.
Some of the outstanding benefits you can enjoy with this broker include fast order execution, deep liquidity, industry-standard trading platforms, low trading fees, low minimum deposit from $1, multiple tailored account types, multiple fast & secure payment methods, high Leverage (up to 1:3000) and an excellent 24/7 customer support service.
Suitable For – Beginners, professionals, active traders, scalping and algorithmic trading.
FBS Highlights
| Broker | FBS |
|---|---|
| Regulation | IFSC (Belize), CySEC (Cyprus), ASIC (Australia), FSCA (South Africa) |
| Forex Pairs | 40 Currency Pairs. |
| Trading Platforms | FBS Trader, MetaTrader 4, MetaTrader 5 |
| Minimum Deposit | Cent Account – $1 Micro Account – $5 Standard Account – $100 Zero Spread Account – $500 ECN Account – $1000 Crypto Account – $1 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | Cent Account – 1:1000 Micro Account – 1:3000 Standard Account – 1:3000 Zero Spread Account – 1:3000 ECN Account – 1:500 Crypto Account – 1:5 |
| Account Currencies | USD, EUR |
| Payment Methods | Bank Wire Transfer, Credit Card, Debit Card, Perfect Money, WebMoney, cashU, Neteller, UnionPay, Skrill, OkPay, FasaPay, Local Deposits, SticPay |
| Trading Tools | Economic Calendar, Forex Calculators, and Currency Convertors. |
FBS Pros and Cons
| PROS | CONS |
|---|---|
| Strong regulatory framework. | Its product offering is limited to CFDs. |
| Over 23 million active traders in 190+ countries worldwide. | |
| Low minimum deposit (from $1). | |
| High Leverage (up to 1:3000). | |
| Multiple account types. | |
| Low forex-trading fees. | |
| Muliple fast and secure payment methods. | |
| Industry-standard trading platforms. | |
| Great bonuses and contests for traders. | |
| Excellent customer support service. |
5. XM
XM is a multi-award-winning global online broker established in 2009 by Trading Point Holding. It is also one of the world’s biggest forex providers (by trade volume) and has an enormous client base of over 5 million traders across 190 countries worldwide.
XM offers CFDs across various global markets, including forex, stocks, commodities, equity indices, precious metals, energies, and shares, with over 1000+ instruments to trade.
Other significant advantages of trading with XM include deep liquidity, fast order execution, low minimum deposit (from $5), multiple fast & secure deposit and withdrawal methods, industry-standard trading platforms, quality education & research offering, and excellent customer support service.
Suitable For – Beginners, professionals, active traders, low capital traders, scalping, and algorithmic trading.
XM Highlights
| Broker | XM |
|---|---|
| Regulation | CySEC, DFSA, ASIC, IFSC, FCA, BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA, KNF, AFM, and FI. |
| Forex Pairs | 55 Currency Pairs. |
| Trading Platforms | MetaTrader 4, MetaTrader 5 |
| Account Types | Micro Account, Standard Account, and XM Ultra low Account. |
| Minimum Deposit | $5 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, JPY, CHF,AUD, HUF, PLN, RUB, SGD, and ZAR. |
| Payment Methods | Wire Transfer, Internet Banking, Local Bank Transfer, Credit/ Debit Cards, Neteller, Neteller VIP, Skrill, UnionPay, RapidPay, and POLI. |
| Trading Tools | Virtual Private Server (VPS), MQL5, and Forex Calculators. |
XM Pros and Cons
| PROS | CONS |
|---|---|
| Strong regulatory framework. | No proprietary trading platform. |
| Easy account registration process. | |
| Multiple account types. | |
| Offers swap-free accounts. | |
| Low minimum deposit (from $5). | |
| Industry-standard trading platforms in web, mobile and desktop versions. | |
| Multiple fast and secure payment methods. | |
| Quality education & research offering. |