Who should make use of this comparison for forex trading in Pakistan?
Quite honestly, any adult who is in any way interested in online forex trading in Pakistan can make use of this comparison tool here at TradersBest. It doesn’t matter what your experience level is, how much you’re looking to trade or what currency pairs you’re after – we’re confident that this comparison tool can help you to find your ideal broker today.
Our reviews have been designed in a unique way that aims to help each and every individual to find the best forex broker for them. We’ve covered all bases, from beginner-friendly platforms with demo accounts, learning tools and more simplistic trading platforms, to expert platforms with more complex functions. If you’re looking to level up from your current provider, then we can 100% assure you that this is the place to do it.
Perhaps you have experience in forex trading elsewhere but have just landed in Pakistan and are looking for options? Or you only have a desktop trader and are looking for the latest mobile app. Whatever it is you are looking for, this comparison tool can point you in the right direction at the very least.
To start things off though, we want to give you the best possible introduction to trading forex in Pakistan. And what better way to do that than by running you through the legal questions, so that we can put to bed any doubts that you may have. Below that, we’ve provided you with our top tips for having a safe and secure experience for forex trading in Pakistan.
Is it legal to trade forex in Pakistan?
Although there are many pre misconceptions that point to the contrary, forex trading online is completely legal in Pakistan. The majority of local brokers in Pakistan are registered with the Securities and Exchange Commission of Pakistan (SECP), who are known for their strict regulations with regards to money laundering prevention.
In addition to brokers based inside the country, overseas brokers are also legally allowed to accept account holders based in Pakistan. However, it is worth noting that not all brokers choose to do so, meaning that it’s always worth double-checking before you try to sign up to a platform. All of the sites contained within our forex broker list for Pakistan accept traders that are based in the country.
Top five steps for a fair and secure experience for forex trading in Pakistan
The most important thing when it comes to finding the best online trading platform for you, is that we find you a safe and fair broker. From making sure the site is legal, to checking for security measures and reading the small print, it’s not difficult to take steps to ensure that your future experience will be as smooth as possible. That’s why we have chosen to provide you with our trading experts’ top five tips for having the fairest and most secure experience possible.
Above all else, you want to make sure that you start trading with a broker that is not only legal but strictly regulated. The best forex brokers in Pakistan today are regulated by the SECP, who as we said above are known for having some strict rules. However, many traders in Pakistan prefer using online brokers that are based in other countries where forex trading is well-regulated and therefore safer. The most popular options include those based in the US, Australia and the UK.
When it comes to trading online, account security is of paramount importance. Additionally, you also want to ensure that your transactions are encrypted using HTTPS, SSL or some form of equivalent technology. When opening your account, you should expect to have to verify your account and/or complete some form of KYC. Though having to provide additional personal information and identification is in the interests of your own security, it’s also important to check what the broker then does with that information.Â
The best way to see what the broker is going to do with your personal information is to read through the privacy policy. As well as reading the privacy policy, it’s also vital that you read through the terms of use thoroughly as well. Even if we have recommended a site as being the best forex broker in Pakistan, it’s always worth double-checking everything for yourself. We know that reading the T&Cs is extremely boring, however, it’s also absolutely essential.
Forex trading Pakistan invariably involves storing around large amounts of money in your account, or at least an amount that is significant to you. Therefore, you want to ensure that the money store with your forex broker is as safe as it would be in your bank. While it can be difficult for forex brokers to store all of your funds offline in a cold storage, the best forex brokers in Pakistan should at least store some of your funds offline. This is the best way to keep your money safe from hackers and theft.Â
As well as ensuring that your transactions are encrypted and that your funds are stored safely, you also want to see what insurance policies are in place. Some financial regulators will require brokers to insure your funds up to a certain amount in the event of insolvency. However, the best online forex broker in Pakistan should, in our opinion, also have their own policy in place to protect you in some way.Â
This is how our experts test the best forex brokers in Pakistan
Every single forex broker review for Pakistan traders that we write has been created in a special way designed to help every one of our readers decide if the platform is right for them. Before our experts even sit down to write a review, we conduct a full test for the forex broker so that we can rate it based on a number of different criteria. We have highlighted the five most important criteria for you below:
Usability
One of the most important things for traders when using a broker is how the platform looks and feels. A good broker should have a website that’s easy to navigate for traders of all experience levels and have no slow loading times or lagging. Additionally, the best forex broker in Pakistan should go the extra mile and have a good-looking design.
The majority of brokers will offer more than one trading platform, and it’s our job to test them all out. The most basic platform should be beginner-friendly, while the advanced trader should have all the tools that experts expect. The best forex platform in Pakistan should strike the perfect balance and have something for everyone.
Account types
There is no one account type that suits everyone when it comes to forex trading in Pakistan, which is why brokers need to offer variety. From demo to professional accounts, and everything in between, the conditions and costs of each account need to be quality and fair. Minimum, we like to see at least three different types of trading accounts being offered.
Payment options
Another area where we look for variety in a broker is when it comes to payments. Offering traders the possibility to fund their account only via bank transfer is a concept that has long since become completely outdated. We want to see a variety of other options including credit/debit cards, PayPal, e-wallets and more.
Customer support
It doesn’t matter if you’re using the best forex platform worldwide, the chances of you having an infinitely smooth trading experience are almost zero. Things can go wrong, and we have to accept that. However, if and when things do veer off-piste, it’s important to know that help is at hand, preferably via a fast-responding live chat service that’s manned by humans.
Our top forex brokers in Pakistan
1.
Players from United States of America accepted
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
2.
Players from United States of America accepted
All investments involve risks, including the possible loss of capital.
3.
Players from United States of America accepted
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Checklist: This is how you find the best forex broker in Pakistan for youÂ
When it comes to forex trading in Pakistan, there are a number of things that you can ask yourself which will help you ahead of using our comparison tool. By first getting a better overall picture of what type of trader you are, we can better match you up with your ideal forex broker today. That’s why we’ve created this checklist to help you to decide what type of forex trader you are going to be.
Experience
Are you a beginner trader, or are you an intermediate who’s looking to level up? There are different platforms suited to traders of various experience levels, as well as those that are more well-rounded.
This is an aspect that has to be more readily considered by traders with at least some experience. There are many third-party trading platforms that are used by multiple brokers across the world. If you like your platform but not your broker, we should be able to help you here.
Trading on the move
It’s becoming more and more common for traders to want to access their forex platforms no matter where they are or what they are doing. If you’re the type of trader that likes to work on the move, we can help you find the best mobile traders in Pakistan today.
Travel
Are you only in Pakistan temporarily, or are you based here but travel often – then you will want a broker that’s available in multiple regions. You never know, the best forex broker in Dubai might also be the best in Pakistan as well.
What else can you trade online in Pakistan?
As well as forex there are plenty of other trading instruments and assets available in Pakistan today – and things only look like getting better. You can access the Pakistan Stock Exchange Limited (PSX) either online or offline and can also trade on global stock exchanges as well. Cryptocurrency trading still remains illegal in Pakistan, though there are suggestions that may change in the future.
Forex trading Pakistan – The conclusion
Before you go on ahead and start using our comparison tool in order to find the best forex broker in Pakistan for you, just remember to keep a few key things in mind. Firstly, it’s important to ensure that you have a safe and secure experience above all else. Secondly, make sure that you take the time to go through our checklist before choosing your broker. And lastly, remember not to invest any more than you can afford to lose, especially if you are a beginner trader.
Best Forex Broker in Pakistan FAQ
🇵🇰 What is the best broker in Pakistan?
The answer to this question is something that we would argue is subjective, as it depends on what type of trader you are. Find the right broker for you today by using our comparison tool here at TradersBest.
⚖️ Is forex trading legal in Pakistan?
The smart thing to do is always to discover whether or not forex trading is legal in the country that you are in. A full legal guide to forex trading from inside Pakistan can be found here by following the link.
đź’± What forex brokers are available in Pakistan?
A complete and up-to-date list of the available forex brokers in Pakistan for this year can be found here at TradersBest. We keep it constantly up to date when new operators become available so bookmark this page today.
