Forex trading in Pakistan has a number of specific features. These are primarily due to religion, as trading can only be carried out in compliance with Sharia law. Traders Union analysts named the best Forex brokers in Pakistan. The list includes companies that operate in compliance with the specifics of this country.
How do Traders Union analysts select brokers?
For evaluation of brokers, Traders Union uses its own methodology, which includes over 100 criteria and is adjusted for each specific country. For example, availability of an Islamic account is an important requirement for Pakistan. This type of account allows Muslims to trade without breaking Sharia law.
Top 10 brokers in Pakistan by Traders Union
In the course of the analysis, Traders Union experts reviewed over 50 brokers operating in Pakistan. The top list includes the following companies:
● Exness. This is a broker with a high number of trading accounts suitable both for Muslims and for the followers of other religions. The broker has low requirements for the minimum deposit.
● FBS. This broker offers a universal user-friendly MetaTrader 4 platform. Traders have access to trading Forex and CFDs. There is also social trading.
● IC Markets. The company has been offering trading services for over 15 years. The clients have access to over 230 trading instruments.
● InstaForex. This is a well-known and reputable broker. Integration with ForexCopy is available, thanks to which users can copy trades.
● Forex.com. This broker is well suited for novice traders, as it offers a simple and user-friendly trading platform with over 300 available instruments for trading.
● OctaFx. The company offers low minimum deposit requirements. A large number of trading accounts are available.
● FXTM. The broker offers beneficial trading conditions for traders. Also commission-free trading is available.
● XM. This broker offers extensive analytics and education for its clients, and therefore it is well suited for novice traders.
● CMC Markets. The clients of this broker can work with over 10,000 trading instruments.
● FXCM. The clients of this broker can trade using MetaTrader 4 and MetaTrader 5 platforms. Over 4,000 trading instruments are available.
These brokers have proven to be the best in terms of reliability, usability, commissions and fees, and are well suited for traders working in Pakistan.
The best Forex broker in Pakistan by Traders Union
Exness is the best broker in Pakistan, according to Traders Union analysts. The company has been in the market since 2008. It holds 3 licenses for financial activity. The broker offers over 120 trading instruments, including currency pairs, CFDs on energies, precious metals and other assets.
Exness offers 5 types of trading accounts for its clients. Availability of the demo account is one of the important benefits for the clients from Pakistan. Trading with leverage from 1:100 up to 1:2000 is available. The company offers narrow spreads, and user-friendly MetaTrader 4 and MetaTrader 5 platforms are available to traders.
Exness is considered the best broker by Traders Union. Experts regularly prepare and update the ratings for the clients from Pakistan and other countries. Also, Traders Union partners can receive rebates on trades.