Compare Brokers in Pakistan

For our pakistan comparison, we found 18 brokers that are suitable and accept traders from United States of America.

We found 18 broker accounts (out of 147) that are suitable for Pakistan.

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Forex.com

Spreads From

EURUSD 1.0 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Forex.com

  • Regulated by: Financial Conduct Authority.
  • Established in 1999 HQ in United States.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

70% of retail investor accounts lose money when trading CFDs with this provider

Read our in-depth Forex.com review

ThinkMarkets

Spreads From

EURUSD 0.1 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ThinkMarkets

  • Regulated by: Financial Conduct Authority and ASIC.
  • Established in 2010 HQ in Australia.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

See Deal

Losses can exceed deposits

Read our in-depth ThinkMarkets review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

The Pakistani Financial Market

Pakistan’s primary stock market is the Pakistan Stock Exchange (PSX), which was formed by a merger between the Karachi, Lahore, and Islamabad stock exchanges in 2016. The PSX aims to provide an efficient, reliable and consistent marketplace for its listed Pakistani securities, with the exchange listing equities, derivatives, exchange traded funds (ETFs) and fixed income products relevant to Pakistan.

The main stock index for the PSX is the KSE-100, with KSE standing for the Karachi Stock Exchange. This capitalisation-weighted headline index includes the biggest companies listed on the PSX by market cap within their sectors and represents 85 percent of the exchange’s total market capitalisation.

Morgan Stanley Capital International (MSCI) classifies the PSX as an Emerging Market as of May 2017, although the FTSE still classifies the exchange as a Secondary Emerging Market. This news created considerable buying interest in blue chip PSX stocks that pushed the benchmark KSE-100 index to a new high close in late May 2017, although the market has since declined correctively.

Forex traders may recognise the Pakistani rupee (PKR) as Pakistan’s national currency. The PKR is not a common reserve currency among central banks, according to the International Monetary Fund (IMF), nor was it ranked among the top 35 most traded currencies by the Bank for International Settlements (BIS). The rupee’s value was pegged to the British Pound until 1982 but was then allowed to float to find its market price. The State Bank of Pakistan manages the value of the currency and maintains an orderly market in it.

Trade factors that influence Pakistan’s financial markets include the price of key strategic commodities imported by the country, while Pakistan’s current GDP ratio could potentially make the country less vulnerable to trade issues and economic weakness among its key trading partners. In addition, while they do not directly affect imports from Pakistan, the imposition of trade tariffs and the resulting trade war between the United States and China could, according to local reports, possibly have a positive impact on the country overall.

Financial regulation in Pakistan for online forex and contract for difference (CFD) brokers falls under the auspices of the Securities and Exchange Commission of Pakistan (SECP). This regulatory organisation has the responsibility for enforcing financial laws and overseeing Pakistan’s capital markets, including non-bank finance companies, brokers and insurance companies.

Trading in Pakistan

When looking for an online broker to trade forex or CFDs with, make sure to choose a well-regulated broker that has a strong reputation with clients.  Online brokers generally offer several trading accounts for traders, including:

  • Forex Trading:  Exchanging one currency for another forms the basis of forex trading. Exchange rates fluctuate as one currency rises or falls relative to another in particular currency pair. The popularity of forex trading has expanded greatly once online trading became possible. The forex market is the most liquid and largest financial market globally and had a daily turnover of $5.1 trillion/day in April 2016, according to data compiled by the BIS.
  • CFD Trading:  Making transactions in derivative financial instruments known as contracts for difference (CFDs) allows traders to speculate on the future of their underlying assets. Such assets can consist of a currency pair, commodity, stock, stock index or other financial instrument.
  • Demo accounts: Funded with virtual money, these accounts can be used to practice trading, test a strategy or check out a broker’s services and platform. Find out more on opening demo accounts here.
  • Islamic accounts: These are suitable for traders who wish to trade in an account that conforms to Sharia law. Find out more on trading with an Islamic account.

With respect to trading stocks, the Pakistan Stock Exchange (PSE) provides trades in Pakistani stocks, fixed income products, derivatives and exchange-traded funds (ETFs), including Islamic products. Exchange transactions are largely executed in Pakistani rupees.

Trades and orders are entered into the PSE’s electronic trading systems known as KATS, KITS and BATS. The Karachi Automated Trading System (KATS) facilitates trading for stock brokers, the Karachi Internet Trading System (KITS) is used for online trading, and the Bonds Automated Trading System (BATS) provides a trading platform for corporate and government debt instruments.

Opportunities of Trading in Pakistan

According to Gov.uk, Pakistan has a rather favourable geographical position located “on the crossroads of Asia and the Middle East”. Pakistan is also the second largest South Asian economy, which can result in possible trading opportunities.

International trade remains quite important to Pakistan as a signatory to the South Asia Free Trade Agreement, with the World Bank reporting that imports and exports of goods and services by the country equated to roughly 25% of GDP as of 2017. 

Furthermore, China and the United States remain two of Pakistan’s largest trading partners, and any strain in the relationship between these neighbours, such as an escalating trade war, could reportedly provide opportunities for Pakistan’s economy as the United States turns to importing goods from Pakistan and China moves manufacturing to Pakistan to avoid U.S. tariffs. 

Pakistan also has a growing financial services sector that caters to Muslims and provides Sharia law compliant investment products and accounts.

Furthermore, Pakistan was ranked 26th for protecting minority investors by the World Bank, and the country ranked 53rd for resolving insolvencies, so the country’s legal system does apparently take care of investors and those owed debts by bankrupt companies.

Challenges of Trading in Pakistan

As a consistent net importer with a moderate trade-to-GDP ratio of around 25% in 2017, Pakistan’s economy can suffer from the failure of major trade agreements. The economy is also especially susceptible to rising oil prices as a net importer.

Furthermore, the overall forecast for growth in Pakistan was slashed by the World Bank in January 2019, according to a report by Business Insider. The forecast was cut largely due to concerns about growing trade tensions, soft manufacturing activity and increasing financial stress among emerging markets.

The State Bank of Pakistan, the Pakistani central bank, sometimes intervenes in the currency market and with interest rate changes to stabilise the USD/PKR exchange rate, which has been depreciating in recent years. Intervention can cause sharp currency valuation shifts resulting in foreign exchange uncertainty for traders, while currency depreciation can affect businesses looking for a more stable currency environment to operate in.

When it comes to starting a business, the World Bank ranked Pakistan 130th compared to other countries, and the country ranked at 136th as an easy place to do business overall.

The country was also only in 112th place for obtaining credit, 142nd for trading across borders, 156th for enforcing contracts and 173rd for paying taxes. These low ranks indicate a possibly challenging environment for operating within the country’s financial market

Summary

Overall, while traders and businesses may find Pakistan a challenging country to operate in for numerous reasons, some opportunities do exist in this emerging economy. Furthermore, Muslim traders may find Pakistan a relatively good place to open Sharia law compliant accounts and trade Islamic financial products.

When searching for a broker to operate through in Pakistan, traders should check to see that they offer a suitable range of asset classes, a decent trading platform, strong regulation and adequate financial security for a margin deposit.

Why Choose Forex.com
For Pakistan?

Forex.com scored best in our review of the top brokers for pakistan, which takes into account 120+ factors across eight categories. Here are some areas where Forex.com scored highly in:

  • 19+ years in business
  • Offers 300+ instruments
  • A range of platform inc. MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.00pips
  • Used by 0+ traders.
  • Offers demo account
  • 1 languages

Forex.com offers one way to tradeForex. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Forex.com have a AAA trust score. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19

Trust Score comparison

Forex.com ThinkMarkets
Trust Score AAA B
Established in 1999 2010
Regulated by Financial Conduct Authority Financial Conduct Authority and ASIC
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of Forex.com vs. ThinkMarkets


Want to see how Forex.com stacks up against ThinkMarkets? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Forex.com ThinkMarkets
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.00 0.10
GBP/USD Spread 0.9 1.2
USD/CAD Spread 0.9 0.9
USD/JPY Spread 0.90 0.10
DAX Spread 250.0
FTSE 100 Spread 150.0
S&P500 Spread 50.0

Comparison of account & trading features

Forex.com ThinkMarkets
Platform MT4, Web Trader, NinjaTrader, Tablet & Mobile apps MT4, Mac, Web Trader, Tablet & Mobile apps
Services Forex Forex, CFDs
Base currency options USD, GBP, EUR USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH
Funding options Bank transfer, Cheque, DebitCard, Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,
Micro account
ECN account

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.