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Forex brokers in Pakistan ranked
Forex trading is both legal and regulated in Pakistan, drawing significant interest from local citizens. The Securities and Exchange Commission of Pakistan (SECP) oversees Pakistan Forex brokers and financial services. In 2022, Pakistan's total nominal GDP reached $376 billion, positioning it 42nd in the global rankings. Given Pakistan's per capita GDP of $1,658 (ranking 177th), Forex trading holds potential as an avenue for local traders to supplement their income. Here is a list of the best Forex brokers in Pakistan, prioritizing trader security and offering cost-effective trading conditions.
Pakistan's capital gains tax stands at 12.5%, but Forex trading profits remain untaxed, providing a favorable environment for local traders. Significant enhancements in internet connectivity and electricity have enabled seamless access to global financial markets from within the country, eliminating interruptions or delays. However, trusted Forex brokers in Pakistan are subject to a maximum leverage of 1:10 for major currency pairs due to stringent SECP regulations on FX leverage. While the rationale behind imposing a limit on leverage for retail FX traders is prudent, a 1:10 ratio poses challenges, demanding substantial trader capital to sustain a livelihood in financial markets. In the event of broker insolvency, eligible investors in Pakistan stand to receive compensation of up to PKR 1.5 million per investor, per brokerage house. In conclusion, Pakistani traders are well-shielded against market risks when engaging in Forex trading within the country.