Best Forex Brokers in Pakistan 2024

Pakistan is a country with a growing economy. This has led to an increase in the number of people who are interested in investing in Forex. However, not all brokers are created equal. In this article, we will talk about the best Forex brokers in Pakistan. We will look at things like their trading platforms, customer service, fees, and more! So if you are looking for a broker to invest with, be sure to read our reviews first.

Is Forex Legal in Pakistan?

Forex trading is legal in Pakistan. However, there are a few things that you need to be aware of before you start trading.

First of all, you need to make sure that you are using a reputable and licensed broker. There are many brokers out there who are not licensed and who will not hesitate to take advantage of unsuspecting traders.

Secondly, you need to be aware of the risks involved in Forex trading. There is a lot of money that can be made or lost in Forex trading, and you need to make sure that you understand the risks before you start trading.

Finally, you need to make sure that you are using a reliable and trustworthy platform for your Forex trading. There are many platforms out there that are not reliable and who will not hesitate to take advantage of unsuspecting traders.

If you keep these things in mind, then you should be able to trade safely and successfully in Pakistan. Just make sure that you do your research before you start trading and always remember to trade responsibly.

Best Forex Brokers in Pakistan

There are many Forex brokers in Pakistan, but not all of them are created equal. We've carefully analyzed these brokers in order to save you endless hours of research. The results of this analysis provided us with five brokers for Pakistan. We suggest all five however, it is dependent on which one best meets your requirements. After putting aside the preambles, let's find out which ones are the top winners.

Best Forex Brokers in Pakistan

The 5 top Forex brokers in 2022 for Pakistani:

  • AvaTrade
  • XM
  • FBS
  • FXTM
  • OctaFx



AvaTrade was founded in 2006. Avatrade has established itself as a major player in the online financial field, with a proven track record of positive customer satisfaction.

Avatrade logo

image credit: AvaTrade

AvaTrade Regulations

Avatrade is regulated by the Central Bank of Ireland and Cyprus Securities and Exchange Commission in Europe. 

It's also regulated by Polish Financial Supervision Authority, by ASIC in Australia, by British Virgin Islands Financial Services Commission for global operation, by Financial Services Agency and Financial Futures Association of Japan in Japan, by Financial Regulatory Services Authority (FRSA) for Middle East, and by the Israel Securities Authority in Israel.

Avatrade Trading Platforms.

The broker offers a selection of manual trading platforms – a well known MetaTrader 4 and MetaTrader 5, WebTrader, AvaOptions for options trading, and AvaTradeGo for mobile trading.

For automated trading they support DulpiTrade and ZuluTrade.

Avatrade Products

They offer 55 Forex pairs, Options on 55 Forex pairs, 14 Cryptocurrencies, CFDs on Stocks of major companies in the world, ETF, Bonds, Indices and Commodities. The broker spreads start from zero and leverage is up to 1:400.

Costs of Avatrade

AvaTrade does not have any charges or fees on trading or transactions. They generate profits by spreads and swaps from the trade itself.

The minimum deposit is 100 of your base currency.

When withdrawing to Credit cards or E-wallets the minimum amount is 1 base currency of the account, when withdrawing via bank transfer the minimum amount is 100 base currency.

Avatrade Customer Support

The broker gives live chat support with chat bot and live agent. They also have WhatsApp support and phone call support 24/5. I have checked their live chat. They are very quick to respond.

Read Full Review of AvaTrade Here

Pros and Cons of AvaTrade


- A wide range of instruments are available, including Cryptocurrencies, Stocks, Commodities.

- Multi-platform trading platform, including the award-winning AvaTradeGO application.

- AvaTrade supports EAs

- They have competitive spread and leverage 

- The client's funds are kept in separate accounts for greater security.

- AvaTrade is regulated In Europe, Australia, Japan, British Virgin Islands, UAE and South Africa.

- Customer support is highly responsive.


- AvaTrade does not offer service for Belgium, Brazil, Democratic People's Republic of Korea (DPRK), New Zealand, Turkey, USA.

- Support via phones is not accessible 24 hours a day, 7 days a week.

If you want to give it a try with AvaTrade, you can use the link  below:

You can also pick any of the following alternative Forex Brokers.

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Next broker in our list is XM. In 2009, XM Global Limited started its online trading service under the trademark XM. Currently they have over 5,000,000 clients and 600 Professionals working around the world. XM is doing business in 190+ countries.

XM broker

image credit: XM

XM Regulations

XM is a multi licensed and regulated broker. 

In Cyprus, the company is licensed and regulated by CySEC.

In Australia, XM is regulated by the Australian Financial Services License by ASIC. 

And in Belize XM is licensed by IFSC.

XM Products

XM offers Forex, Cryptocurrencies, CFDs on Stocks, Equity Indices, Commodities, Precious Metals, Energies and Shares. 

They have different types of live Accounts. Micro Account, Standard Account, XM Ultra Low Account, Shares Account, Islamic Account and Demo Account.

They offer leverage from 1:1 to 1:888.

XM offers 57+ FX pairs, this includes major, minor, and exotic currency pairs. 

They have 31 Crypto to Fiat Currency pairs.

They offer 8 commodities that include Cocoa, Soyabean, Coffee, Corn, Cotton, Copper, Sugar, and Wheat.

For trading Stocks, you get access to over 1246 major companies from the US and other global stock markets. The trading of shares is executed via CFDs. 

You can also trade Indices. They have 14+ Indices including US500, US100, UK100, US30 and more.

You can also trade gold, silver, Crude oil, Natural Gas and WTI oil on XM. 

They also have an account for shares trading. With this account,  you can buy shares from US, UK and German stock markets. 

XM Trading Platforms

Let's check their Trading platforms. Clients of XM are able to begin trading using MT4 and MT5 platforms accessible on both PCs and MAC and several mobile devices. Users can also get trading experience with the XM WebTrader, instantly accessible via your web browser.

Costs of XM 

XM doesn't have any deposit and withdrawal fee. It's free, but the minimum deposit with XM is $5 except for a share account. For Shares Account, minimum deposit is $10,000.

XM does not charge any commission except for Shares Trading.. They make profit through spreads and swap fees.   

Commission for US Shares 0.04% per share, with minimum $1 Commission per transaction, for UK Shares, it's 0.10% per share with minimum  $9 commission per transaction and for German Shares, it's 0.10% commission per transaction, with a minimum of $5 commission per transaction.

Also Read: Best Forex Brokers in Asia 2024

XM Customer Support

XM customer service is probably one of the most satisfying customer service experiences we've experienced compared to different forex brokers. XM provides live chat support 24/7 and standard phone and email assistance.

We had the opportunity to talk with a live person via live chat in less than 10 seconds, which is a feat. Additionally the broker also provides customer assistance in 26 different languages.

Read Full Review of XM Here

Pros and Cons of XM


- Low stock CFD and withdrawal fees.

- Easy and fast account opening

- Responsive customer support

- Low minimum deposit


- Limited product portfolio

- Average forex and stock index CFD fees

If you want to give it a try with XM, you can use the link  below:

Trade Forex with XM

Top Forex Brokers in Pakistan 2024


Next, we will review the broker FBS. This broker offers a variety of account types and assets to trade. They also have a very user-friendly platform that is great for beginners. One thing to note about FBS is that they do not offer a lot of bonuses or promotions. It is a leading Forex broker offering trading opportunities that include multi-market Forex, metals, CFDs and more.

FBS Logo

image credit: FBS

FBS Regulations

FBS is regulated by various regulatory authorities around the world.

Cyprus: Tradestone Ltd. (FBS) is licensed by CySEC.

Belize: FBS Markets Inc. is regulated by the International Financial Services Commission (IFSC).

EU: Tradestone Ltd. (FBS) is in full compliance with the Markets in Financial Instruments Directive (MiFID). 

United Kingdom: FBS is licensed and regulated by the Financial Conduct Authority. 

South Africa: FBS is also regulated in South Africa by FSCA.

FBS Trading Platforms

FBS has a proprietary mobile app named FBS Trader for android and iOS.  FBS also offers among the world's most renowned and effective trading platforms that include MetaTrader 4 and MetaTrader 5 trading platforms for Windows, MacOs, Android and iOS. 

FBS Products

They offer Forex, Metals, Indices, Energies, Stocks and Crypto. For crypto trading, they have a separate Crypto Account. Spreads vary depending on account types. They have 6 types of accounts.

Leverage at FBS is from 1:50 to 1:3000 

Costs of FBS

They have commissions in Zero account, ECN account and Crypto Account. Cent, Micro and standard accounts do not have any commission.

Deposit starts from $1 (cent account) to up to $1000 (ECN account). 

They don't have any withdrawal limit. Depending on your deposit and Withdrawal Methods charges vary.

FBS Customer Support

They give customer support through various ways. They have live website chat, Facebook Messenger, Viber, Line, Telegraph and Whatsapp.

You can also contact them by email and phone call. 

Read Full Review of FBS Here

FBS Pros and Cons


- FBS provides low stock and index CFD fee

- Doesn't charge any inactivity fees

- It's easy and quick opening of accounts.

- FBS provides outstanding customer support and education

- The commissions will be covered under FBS


- Clients from the USA, UK, Japan, Israel, Canada

- Few account base currencies

- There is no protection for investors from non-EU customers

Trade Forex with FBS


Among the top Forex Brokers in Pakistan, FXTM is one them. ForexTime (FXTM) is a forex broker established back in 2011 by Andrey Dashin. FXTM offers an intuitive trading platform based on MetaTrader 4 and 5 and offers a wider range of trading instruments including Forex, Cryptocurrencies, Index and Commodity CFDs, Spot Metals and Stock CFDs.

FXTM logo

image credit: FXTM

FXTM Regulations

FXTM is regulated by different reputable regulatory authorities around the world. They are: 

Cyprus: Forextime Ltd (EU) is regulated by CySEC (185/12).

United Kingdom: Forextime UK Limited is regulated by the FCA (777911)

South Africa: ForexTime Limited (South Africa) is regulated by FSCA (46614)

Global: Exinity Limited (Worldwide) is regulated by FSC (C113012295)

FXTM Trading Platforms 

FXTM provides MT4 and MT5 trading platforms for their customers. With FXTM, MT4 and MT5 are available on Windows and Mac systems and on iOS and Android mobile devices.

They also have Proprietary mobile app named FXTM Trader. With FXTM Trader, you can take advantage of the broker's copy trading service in FXTM Invest.

FXTM Products

In Pakistan, traders can get access to over 1000 trading instruments with FXTM broker. FXTM offers Forex, Metals, Stocks, Commodities and Indices.

They offer 4 types of accounts in Pakistan. Micro Account, Advantage Account, Advantage Plus Account and Demo Account. 

For forex trading in Pakistan, They offer 1:1000 leverage for micro Account and 1:2000 for Advantage and Advantage Plus Accounts. 

Costs of FXTM

In Pakistan, Deposit to FXTM is free. For withdrawal through ewallet is free but with credit card, you will be charged a fee. 

Minimum deposit in FXTM is $10. Micro and Advantage Plus Accounts do not have any commission. But for Advantage account commission ranging (on average) from $0.40 to $2 per $100K notional value. FXTM spreads starts from zero pips

FXTM Customer Support

FXTM customer support includes a comprehensive FAQ section, which you can use to answer a few questions before contacting the support team. Pakistani Traders also can email them, call them or do live chat on FXTM website to resolve their issues.

Read Full Review of FXTM Here

FXTM Pros and Cons


- They provide amazing customer service     

- FXTM has great educational tools   

- Easy and fast account opening


- The broker charges Inactivity and withdrawal fees

- CFD fees are high


OctaFX is under the brand name of Octa Markets Incorporated and has been operating since 2011. OctaFx currently offers services to 150+ counties. They have 10 million+ Forex accounts opened. The company Headquarter is in St. Ben cent and Grenadines.

octafx review

image credit: OctaFx

OctaFx Regulations

OctaFX activity is supervised and regulated by the authorities of St. Vincent and the Grenadines under the International Business Companies Amendment and Consolidation Act.

OctaFx is also regulated by CySEC in Cyprus.

OctaFx Trading Platforms

They have Proprietary mobile apps for Android, iOS. They also have the industry standard MT4 and MT5 trading platform for desktop and mobile. 

OctaFx Products

In Pakistan, OctaFx offers 35+ FX pairs, this includes major, minor, and exotic currency pairs. 

On OctaFx, you can profit from the 10 most popular CFDs on indices, including Dow Jones, NASDAQ, Nikkei and Euro Stoxx 50.

They also offer Gold, Silver, Crude oil and Natural Gas. They also have 30+ fiat Crypto pairs.

Traders can also take advantage of the OctaFX Copytrading feature.

Cost of OctaFx

For Pakistani traders, OctaFx doesn't have any deposit and withdrawal fee except Perfect Money. Perfect Money charges 0.5% for Deposit. The minimum deposit with OctaFx is $25. The deposit is instant.

Both MT4 and MT5 accounts are commission free. They make money from spreads and swap fees.

OctaFx Customer Support

OctaFx has a team of skilled support personnel that can be reached via live chat, social media and email by filling a form on their website. I have checked their live chat. They are quick to respond. Live chat is available 24/7.

Read Full Review of OctaFx Here

Pros and Cons of OctaFx


- Unlimited demo account

- Forex and CFDs are offered

- More than 30 pairs of FX to trade

- Deposits and withdrawal are free


- Very few Crypto assets

- No VPS

- Support via phone is not available 24/7.

- There are no clients from the USA, Canada, Belgium or other countries that are not part of the EU


Forex trading is becoming more and more popular in Pakistan. As the Pakistani economy grows, so does the demand for foreign currency. This increased demand has led to a proliferation of forex brokers in Pakistan. It can be difficult to determine which broker is right for you. Each broker offers different services and products, and each trader has unique needs. In this article, we have reviewed some of the best forex brokers in Pakistan. We hope that this information will help you choose the right broker for your needs. Have you had any good or bad experiences with these brokers? Let us know in the comments section below.

Top Forex Brokers in Pakistan 2024

Next Read: Best Forex Brokers Worldwide 2024