Top Rated Forex Broker in Pakistan
- XM – Overall The Winner of 2024 . Rating: 9,8/10
- HFM – Highest Leverage 1:2000, Rating: 9,5/10
- AvaTrade – Best Trading Platforms, Rating: 9,0/10
- Pepperstone – Ultra Low Forex Spreads, Rating: 9,0/10
- Exness – Low Trading Fees, Rating: 8,5/10
XM
XM is a global forex broker and has an established history. It offers CFDs and shares accounts to its clients.
XM comes with competitive spreads, good leverage, and a wide range of CFD instruments in its collection.
Regulation
XM is a broker with licenses from top regulators.
- It is regulated by the ASIC in Australia
- The FSC in Belize, and
- The CySEC in Cyprus.
XM Global accepts traders from Pakistan!
Forex Pairs
XM offers 55 forex pairs including majors, minors, and a few exotics. The average spreads start from 1.6 and have leverage of up to 1000:1.
You can trade forex pairs with no spreads through XM’s Ultra Low and Islamic Accounts.
Financial Assets
XM has a wide range of CFD stocks, commodities, indices, and cryptocurrencies. It also offers trading direct shares from 3 major stock exchanges.
- Stock CFDs – 1300+
- Real Shares – 100 from the US, UK, and Germany
- Equity Indices – 20, Future Indices – 11
- Cryptocurrencies – 58
- Commodities – 8
XM Account Types
XM gives you the option of starting with a free demo account. You can then choose from one of the available options matching your trading needs.
Standard Accounts: The Micro and Standard accounts offer no commission, low spreads, up to 1000:1 leverage, and $5 minimum deposit features.
Ultra Low Account: This account offers reduced spreads starting from 0.6 pips.
Shares Account: The minimum contract size for this account is 1 share and a minimum deposit of $10,000 is required.
Islamic Accounts
Yes, XM offers Islamic accounts with zero spreads to its clients in Pakistan and other Islamic countries. However, you must apply and submit requirements for approval.
XM Trading Platforms
XM does not have a proprietary trading platform. However, it offers a flexible and user-friendly trading experience through the MT4 and MT5 platforms.
Both MT4 and MT5 are available for desktop, web, and mobile devices with excellent features like quick order execution, detailed reports, alerts, charting, and market analysis.
HF Markets (HFM)
HFM is another leading forex broker that comes with a wide range of forex and other CFD assets.
HF Markets offers swap-free and top-up bonus accounts with special incentives. It offers competitive trading and non-trading fees as well.
Regulation
HFM is incorporated in St. Vincent and Granedine as an international business company.
It has also been licensed by different regulatory bodies:
- The FCA in the UK under license no. 801701.
- The FSCA in South Africa with license no. 46632.
- The DFSA in Dubai with license no. F004885.
- The CMA in Kenya with license no. 156.
Forex Pairs
With a generous leverage of up to 2000:1 and tight spreads starting from 0.6 pips (0.0 on ZERO Account), and 50+ instruments, HFM has its basis covered.
It offers 53 majors and minors on all account types with competitive average spreads on all pairs.
Financial Assets
The range of CFD assets and markets changes slightly by the trading platform. However, HFM offers an extensive range of different markets through its various account types.
- Stock CFDs – 200+
- Commodities – 5
- Indices and Bonds – 14
- Cryptocurrencies – 40
- ETFs – 33
Account Types
HFM offers quite a few types of accounts to meet the trading choices of its clients with different trading experience levels.
Cent Account: It is ideal for beginners with $0 commission, low spreads, and 1:2000 leverage.
Zero Account: It offers a swap-free option with a commission starting from $0.03 (1K lot) per side.
Pro Account: It is suitable for advanced traders and offers tight spreads, good leverage, and a $100 minimum deposit.
Premium Account: It offers spreads from 1.2 pip, 1:2000 leverage, and no commission.
Islamic Accounts for Pakistani Traders
Yes, you can apply for a swap-free account with HFM if you are from Pakistan.
It offers swap-free trading options on most of its account types anyway.
HF Markets Trading Platforms
HFM operates through MT4 and MT5 trading platforms only. It doesn’t offer a proprietary trading platform yet.
Both MT4 and MT5 support the desktop, web, and mobile versions with access to all features. However, the range of CFD assets may vary in MT4 and MT5 platforms depending on your account type.
AvaTrade
AvaTrade is a veteran broker. It offers a decent collection of products/markets with competitive spreads and non-trading fees.
With multiple trading platforms, awards, licenses from top regulators, and competitive pricing, AvaTrade is an excellent option for traders in Pakistan.
Regulation
AvaTrade is regulated by several regulatory bodies around the world:
- The Central Bank of Ireland license no. C53877
- The B.V.I Financial Services Commission No. SIBA/L/13/1049
- The ASIC with license no. 406684
- In South Africa by the FSCA no. 45984
- In Japan by the Financial Services Agency license no.1662
- By the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority 190018
Account Types
AvaTrade offers a demo account, a standard, and Islamic accounts for traders in Pakistan.
Standard or Retail Account: It’s for all retail traders with access to all instruments and standard fee structure.
Islamic Account: You can apply for a Sharia-compliant Islamic trading account with AvaTrade.
Professional Account: This account is currently available to selective EU countries and not in Pakistan.
Forex Pairs
With AvaTrade, you can start forex trading through CFDs or Options.
It offers a curated list of 50+ forex pairs and 64 Options covering all majors, minors, and several exotics.
The average spread for forex pairs starts at 0.9, the margin at 0.25%, and the leverage of 400:1.
Financial Assets
Other asset classes available at AvaTrade include:
- Stock CFDs – 610+
- Indices – 46
- ETFs – 61
- Commodities – 20
- Cryptocurrencies CFDs – 20
- FX Options – 70
- Bonds – 2
Trading Platforms
We can classify AvaTrade platforms into three categories.
Proprietary Trading Platforms: Its flagship platforms are WebTrader, AvaTrade Options, and AvaTrade Go.
MetaTrader Platforms: Both MT4 and MT5 are available on desktop and mobile devices.
Automated Trading: AvaSocial and DupliTrader are suitable for your social trading needs.
Exness
Exness is gaining popularity in Pakistan due to its competitive spreads and user-friendly trading platforms.
With top-tier regulations, a decent range of tradeable securities, Islamic accounts, 5 account types, and multiple trading platforms, Exness should be on your go-to list as a trusted forex broker.
Regulation
You can trust this established forex broker as it is regulated by top-tier regulators and is authorized to accept clients from Pakistan.
Exness Group holds licenses from different regulators including:
- The FCA in the UK
- The FSA in Seychelles
- The CySEC in Cyprus
- The CMA in Kenya
- The FSCA in South Africa
Account Types
Whether you are a beginner, an expert, or a professional, you’ll find an account type matching your needs.
Standard Accounts: The Standard and the Standard Cent accounts offer spreads from 0.2 pips, no commission, and 1: unlimited leverage.
Professional Accounts: 3 professional accounts with options of minimum spreads (0 pips), low commission, or zero commission, and 1: unlimited leverage.
Islamic Accounts
Yes, if you are from Pakistan or any other Muslim country, your trading account will automatically switch to the Swap-free or an Islamic account with Exness.
Forex Pairs
Exness offers 100+ forex pairs to its clients. It’s not a comprehensive range but it is sufficient for beginners and expert traders alike.
You’ll find all Majors, Minors, and many Exotics in the Forex CFD range including:
- EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, NZD/USD
- EUR/GBP, EUR/CAD, GBP/CAD
Financial Assets
Exness has a curated collection of CFD asset classes in stocks, commodities, indices, and cryptocurrencies.
You’ll get widely traded stocks from the leading exchanges including:
- Stock CFDs
- Indices
- Commodities (Metals and Energy)
- Cryptocurrencies
Trading Platforms
Exness comes with its in-house trading platform and MT4/MT5 for you.
Exness Terminal: can be accessed directly from any browser and mobile device without downloading it.
Exness App: is the Exness platform on your mobile device with all the features of the Terminal.
MetaTrader4: Your favorite trading platform with 6 order types, 30 technical indicators, 23 analytical objects, and fast order execution.
MetaTrader5: An advanced version of MT4 with fundamental analysis and more trading tools.
Frequently Asked Questions (FAQ)
Which are the top-rated forex brokers for beginners in Pakistan?
XM is highly recommended for beginners.
AvaTrade and Pepperstone also offer easy account setup and user-friendly platforms, making them good choices for those new to forex trading.
What are the legal requirements for forex trading in Pakistan?
Forex trading in Pakistan requires traders to be aware of the regulations set by the State Bank of Pakistan.
Traders need to ensure they are dealing with brokers that comply with local financial laws to avoid legal issues.
Who regulates the forex market in Pakistan?
The State Bank of Pakistan regulates the forex market in the country.
This organisation ensures that all forex trading activities are conducted fairly and legally, providing a stable environment for traders.
Are there reliable forex brokers that offer services in Urdu for Pakistani traders?
Several brokers like XM for example offer customer support and services in Urdu, accommodating the needs of Pakistani traders.
These brokers aim to provide a comfortable trading experience by removing language barriers.
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