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58 brokers measured in Pakistanbroker data checked 27.08.2026
Intermarket SecuritiesIntermarket Securities Limited

Intermarket Securities in Pakistan — review, licence and costs

Written and checked by the Indus Review editorial team · how we score ·  score recalculated 01.10.2026
yesAccepts residents of PakistanOpened by Intermarket Securities (Pakistan) (Pvt.) Ltd., register checked 11.07.2026

Score (4 of 6 axes scored)

—/ 5.0

shown, not ranked: only 55% of the weight has data, need 55%

2 + 3 × 0.751 = 4.25 · axes on 0–100, total on 2.0–5.0

Key facts (4 facts)

Onboarding entity
Intermarket Securities Limited
Founded
1994
Currencies
PKR
Swap-free account
conditional

Licence check

SECP-licensed securities broker; PSX TREC holder (TREC #124, Trading & Self-Clearing, Active status)
No licence number published for Pakistanchecked 11.07.2026secp.gov.pk

Taxes for a Pakistani resident(1 rule)

  • Forex/derivatives trading profit for residents is generally taxed as income;https://www.psx.com.pk/psx/resources-and-tools/TREC-Holders

Not tax advice. Check with the Federal Board of Revenue.

Who actually onboards you

Entity that onboards Pakistan residents
Intermarket Securities Limited
Local standing
SECP-regulated domestic brokerage house
Licence as the register states it
SECP-licensed securities broker; PSX TREC holder (TREC #124, Trading & Self-Clearing, Active status)
Leverage for this entity
margin financing (MTS) per SECP; futures (deliverable/cash-settled); no retail spot forex
The firm behind it
Active PSX TREC holder (#124) as Trading & Self-Clearing broker; based at the Stock Exchange Building, Karachi; institutionally-focused brokerage with research
What we hold against it
Active TREC holder in good standing; no SECP enforcement action verified at review

Leverage by entity

The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Pakistani residents enters the score.

The entity that onboards youIntermarket Securities LimitedLocal or offshore not stated in the source · SECP licence

margin financing (MTS) per SECP; futures (deliverable/cash-settled); no retail spot forex

—PK
Pakistan median, local entities: 1:50 · 18 of 20 stated

Scale from 1:10 to 1:3000, logarithmic.

Client protection

  • Local entity onboards youSECP-regulated domestic brokerage house
  • Regulator warning on filenone found

— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.

Accounts

Account types the broker names for this country: CDC sub-account + PSX trading account, institutional, retail. The figures below are the broker's own and do not differ by account in any source we captured.

Swap-free account terms

Terms read from the account page on 01.10.2026. The cap on open positions is not published.

Payouts(1 method)

MethodDeposit, hWithdrawal, hFee, USDMin, USD
Bank transfer24—050

Deposit and withdrawal methods (1 methods · 0 local rails)

bank transfer;

  • Bank transfer
Account currency
PKR
Fee declared
1 of 1 methods
Withdrawal back to
the funding method

Where it does not serve(1 countries)

—

From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.

Platforms and markets(1 platform)

  • online/mobile trading platform
ClassCountMin spreadLeverage
online/mobile trading platform———PK

114 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 108 more.

Pros and cons(3 for and 4 against, each tied to a figure on this page)

For
  • Authorised by the Pakistan regulator in its own register
  • Swap-free account available
  • Safety 100 of 100, its strongest of 4 scored axes
Against
  • Round-turn cost not priced: the pair of spread and commission is not published
  • Withdrawal in 48 h, over the Pakistan median 24
  • Platforms 0 of 100, its weakest of 4 scored axes
  • Not scored on reviews, round-turn cost: the broker publishes no figure we could read

Where Intermarket Securities sits in the Pakistan base(62 brokers)

Round-turn cost, USD (36 of 62 priced)

3<5
207.5
510
312.5
315
117.5
1>17.5

Median 7 USD · range 3-19 · 26 of 62 brokers do not publish it

Minimum deposit, USD (16 of 62 priced)

13<50
1100
1150
0200
1>200

Median 7.5 USD · range 0-237.2 · 46 of 62 brokers do not publish it

Retail leverage (34 of 62 with a Pakistan figure)

17<1k
62k
73k
34k
1>4k

Median 1:750 · range 50-5000 · 28 of 62 brokers do not publish it

Withdrawal time published (62 brokers)

6of 58
Published, hours6not published38Intermarket Securities is one of the 6

Alternatives in Pakistan(6 of 62 scored in Pakistan)

3.5
HYCM
Licensed elsewhere
Round turn, USD
5PK
Min deposit, USD
100 groupPK
Leverage
500PK
Rank in this country
#23
3.46
FXCM
Licensed elsewhere
Round turn, USD
11PK
Min deposit, USD
50 groupPK
Rank in this country
#25
3.2
Alpari
Licensed elsewhere
Round turn, USD
19PK
Min deposit, USD
30 groupPK
Leverage
3000PK
Rank in this country
#32
4.1
FP Markets
Licensed elsewhere
Round turn, USD
6.5PK
Min deposit, USD
100PK
Leverage
500PK
Rank in this country
#1
4
HFM
Licensed elsewhere
Round turn, USD
6PK
Min deposit, USD
5 groupPK
Leverage
2000PK
Rank in this country
#2
3.92
BlackBull Markets
Licensed elsewhere
Round turn, USD
6PK
Min deposit, USD
0PK
Leverage
500PK
Rank in this country
#6

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

Methodology(6 axes · formula v1.0)

Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Pakistan score. Full methodology

AxisWeightWhat is measuredIntermarket Securities
Reviews25%Rating, volume and recency on one public review platform—
Round-turn cost20%Round turn on 1 lot EURUSD: spread plus commission, against the country median—
Safety20%Local authorisation, the entity that onboards you, any regulator warning100
Payouts15%Published withdrawal time, fees and the methods available in the country60
Track record10%Years since the firm was founded, from its own filings100
Platforms10%Which trading platforms the broker confirms for this country0

— the broker does not publish this figure; it is not read as a zero and it is not scored.

FAQ

Does Intermarket Securities accept residents of Pakistan?
Yes. SECP-regulated domestic brokerage house Onboarding entity: Intermarket Securities Limited
Is Intermarket Securities licensed to serve clients in Pakistan?
SECP-licensed securities broker; PSX TREC holder (TREC #124, Trading & Self-Clearing, Active status) Checked on 11.07.2026.
Which trading platforms does Intermarket Securities support?
online/mobile trading platform. Instruments: PSX equities, futures, money market; equity research and advisory
How can I withdraw money from Intermarket Securities in Pakistan?
bank transfer; Raast/1LINK per onboarding (not individually verified at review)
What account types does Intermarket Securities offer?
CDC sub-account + PSX trading account; institutional and retail
Does Intermarket Securities offer a swap-free (Islamic) account?
Conditional.

Verified · Sources

Verified01.10.2026
next review 01.01.2027