ECN and raw-spread brokers in Pakistan

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (28 of 62 counts · 58 brokers onboarding Pakistani residents)

28of 62

qualify for this ranking

45% of 62

25of 28

scored on all six axes

89% of 28

36of 62

publish a price

58% of 62

34of 62

publish a leverage figure for this country

55% of 62

Top 3 (of 3 ranked)

1FP Markets4.1highest score of the three · offshore/unregulated locally in pakistan · withdrawal in 24 h 2HFM4not locally regulated; legal via offshor · withdrawal in 24 h 3LiteFinance3.94cheapest priced of the three · offshore/unregulated locally; not secp-a · withdrawal in 24 h

ECN and raw-spread brokers in Pakistan (28 of 62)

By slice score, formula v1.0. · 28 of 58 brokers in this ranking · all 28

#	Broker	Round turn, USDPK	Min deposit, USDPK	Leverage	Withdrawal, hPK	Score	Founded	Funding
1	FP Markets	6.5	100	500PK	24	4.1	2005	3 methods
2	HFM	6	5 group	2000PK	24	4	2010	3 methods · local
3	LiteFinance	5	50 group	1000PK	24	3.94	2005	3 methods
4	BDSwiss	5	10	2000PK	24	3.93	2012	3 methods
5	BlackBull Markets	6	0	500PK	72	3.92	2014	5 methods
6	FBS	6	5 group	3000PK	24	3.92	2009	3 methods · local
7	Pepperstone	8	10 group	200PK	24	3.91	2010	5 methods
8	Exinity	4	—	2000PK	24	3.85	2012	—
9	Admirals	6	25	500PK	3	3.83	2001	4 methods
10	Interactive Brokers	5	0	50PK	24	3.82	1978	1 methods
11	OctaFX	16	25 group	1000 groupPK	3	3.8	2011	2 methods · local
12	Axi	7	0 group	500PK	48	3.77	2007	4 methods
13	Moneta Markets	7	50	1000PK	24	3.74	2019	5 methods
14	Vantage	6	50 group	500PK	120	3.69	2009	4 methods
15	FreshForex	3	10	2000PK	0.17	3.69	2004	3 methods · local
16	Eightcap	7	100 group	—stated, not verified	48	3.67	2009	—
17	VT Markets	6	100 group	500PK	72	3.65	2015	3 methods
18	NordFX	—	10 group	1000PK	24	3.63	2008	4 methods · local
19	TMGM	7	100 group	1000PK	48	3.55	2013	9 methods
20	HYCM	5	100 group	500PK	1	3.5	1998	5 methods
21	FXCM	11	50 group	—stated, not verified	72	3.46	1999	—
22	Tickmill	7	100 group	500 groupPK	24	3.44	2014	—
23	IG Markets	13.6	50 group	—stated, not verified	—	3.33	1974	2 methods
24	XM	7	5	1000PK	120	3.3	2009	3 methods · local
25	InstaForex	—	1	1000PK	7	3.28	2007	2 methods · local
26	FXTM	7	10 group	2000PK	24	3.27	2011	3 methods
27	Grand Capital	9	10	500PK	72	3.11	2006	3 methods
28	Weltrade	3.1	1	2000PK	120	3.05	2006	4 methods

Ten are shown; the button opens the rest.

"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.

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

BlackBull Markets publishes a retail leverage of 1:500 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

Identical for every row, so it is stated once: Who onboards Local · SECP · Swap-free fee none, no limit · PKR account Yes · Execution ECN/raw + standard.

1. FP Markets — highest score of the three · offshore/unregulated locally in pakistan · withdrawal in 24 h (score 4.1)

Round turn: 6.5 USD
Withdrawal: 1 business day
PKR account: USD/EUR/GBP/AUD and others; no PKR-denominated account.
Leverage: 500PK
Accepts residents: through an offshore entity
Onboarding entity: FP Markets LLC
Founded: 2005
Register: https://tradersunion.com/brokers/forex/view/fp-markets/is-regulated-in-pakistan · 09.07.2026
Group leverage: offshoregroup
Instruments: 10,000+ CFDs: 60+ FX pairs, indices, commodities, shares, ETFs, bonds and crypto CFDs.
Platforms: MT5cTraderWebTradingView
Funding: Cards, bank wire and e-wallets; local PKR rails not verified at review.
Not served: United States, Canada, Japan, Belgium, New Zealand, Russia

Reviews25%90
Round-turn cost20%92
Safety0
Payouts15%80
Track record10%100
Platforms70

Why it ranks here

Round turn 6.5 USD against the slice median 7 USD. strongest axis track record 100 of 100. total score 4.1.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of FP Markets

2. HFM — not locally regulated; legal via offshor · withdrawal in 24 h (score 4)

Round turn: 6 USD
Withdrawal: same business day for requests before 10:00 server time
PKR account: USD (no PKR verified).
Leverage: 2000PK
Accepts residents: through an offshore entity
Onboarding entity: HF Markets (SV) Ltd
Founded: 2010
Register: https://tradersunion.com · 09.07.2026
Group leverage: offshore
Instruments: FX, metals, indices, shares, commodities, crypto CFDs.
Platforms: MT5MT4Web
Funding: Reported JazzCash, Easypaisa and local bank transfer (per broker guides; not officially confirmed on hfm.com).
Not served: USA, Canada, Sudan, Syria, Iran, North Korea, UAE

Why it ranks here

Round turn 6 USD against the slice median 7 USD. strongest axis round-turn cost 95 of 100. total score 4.

Watch for

Min deposit 200 USD, double the Pakistan median of 50; withdrawal time not published.

Full review of HFM

3. LiteFinance — cheapest priced of the three · offshore/unregulated locally; not secp-a · withdrawal in 24 h (score 3.94)

Round turn: 5 USD
Withdrawal: varies by method; e-wallets 0-24 hours, cards 2-5 business days, bank transfers 3-7 business days
PKR account: USD and EUR; no PKR trading account.
Leverage: 1000PK
Licence: 931
Accepts residents: through an offshore entity
Onboarding entity: LiteFinance Global LLC
Founded: 2005
Register: https://secp.gov.pk · 09.07.2026
Group leverage: uncleargroup
Instruments: Forex pairs, metals, oil, stock indices, share CFDs and crypto CFDs.
Platforms: MT5WebMobile
Funding: Cards, e-wallets and crypto; no verified PKR local rail; SBP restricts outward forex remittance.
Not served: United States, Canada, United Kingdom, Israel, Russia, Japan, countries belonging to the European Economic Area (EEA)

Why it ranks here

Round turn 5 USD against the slice median 7 USD. strongest axis round-turn cost 100 of 100. total score 3.94.

Watch for

Onboards Pakistani residents through an offshore entity: no SECP licence, no SECP complaints route, no PKR account.

Full review of LiteFinance

What the data shows(28 of 62 distributions · 58 brokers)

Swap-free availability (28 of 62 brokers)

Offered30Not offered14

Admin fee after the free period (28 of 62 swap-free)

Never16After 3–30 days9not published5

Who onboards Pakistani residents (28 of 62 brokers)

Local SECP entity20Offshore entity24

PKR account (28 of 62 brokers)

Yes16No23not published5

EUR/USD raw spread, pips (35 of 62 · median 0 pips)

32<0.2

10.4

10.6

00.8

1>0.8

Commission per round turn, USD (37 of 62 · median 6 USD)

8<2.5

197.5

210

2>10

Full list(28 of 62)

1FP Markets4.1
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6.5
Min deposit, USD
100
Leverage
500PK
PKR
Yes
2HFM4
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
5 group
Leverage
2000PK
PKR
Yes
3LiteFinance3.94
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
50 group
Leverage
1000PK
PKR
Yes
4BDSwiss3.93
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
10
Leverage
2000PK
PKR
Yes
5BlackBull Markets3.92
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
0
Leverage
500PK
PKR
Yes
6FBS3.92
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
5 group
Leverage
3000PK
PKR
Yes
7Pepperstone3.91
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
10 group
Leverage
200PK
PKR
Yes
8Exinity3.85
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
4
Leverage
2000PK
PKR
Yes
9Admirals3.83
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
25
Leverage
500PK
PKR
Yes
10Interactive Brokers3.82
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
0
Leverage
50PK
PKR
Yes
11OctaFX3.8
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
16
Min deposit, USD
25 group
Leverage
1000 groupPK
PKR
Yes
12Axi3.77
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
0 group
Leverage
500PK
PKR
Yes
13Moneta Markets3.74
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
50
Leverage
1000PK
PKR
Yes
14Vantage3.69
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50 group
Leverage
500PK
PKR
Yes
15FreshForex3.69
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
3
Min deposit, USD
10
Leverage
2000PK
PKR
Yes
16Eightcap3.67
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
PKR
Yes
17VT Markets3.65
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100 group
Leverage
500PK
PKR
Yes
18NordFX3.63
Onboards
Local · SECP
Swap-free
none, no limit
Min deposit, USD
10 group
Leverage
1000PK
PKR
Yes
19TMGM3.55
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
1000PK
PKR
Yes
20HYCM3.5
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
100 group
Leverage
500PK
PKR
Yes
21FXCM3.46
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
11
Min deposit, USD
50 group
PKR
Yes
22Tickmill3.44
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
100 group
Leverage
500 groupPK
PKR
Yes
23IG Markets3.33
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
13.6
Min deposit, USD
50 group
PKR
Yes
24XM3.3
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
5
Leverage
1000PK
PKR
Yes
25InstaForex3.28
Onboards
Local · SECP
Swap-free
none, no limit
Min deposit, USD
1
Leverage
1000PK
PKR
Yes
26FXTM3.27
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
10 group
Leverage
2000PK
PKR
Yes
27Grand Capital3.11
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
10
Leverage
500PK
PKR
Yes
28Weltrade3.05
Onboards
Local · SECP
Swap-free
none, no limit
Round turn, USD
3.1
Min deposit, USD
1
Leverage
2000PK
PKR
Yes

How to read this ranking

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of Pakistan through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 7.0 USD and the median minimum deposit 7.5 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 6 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in Pakistan?: 28 of 62 brokers measured for this country qualify.
Which broker leads it, and on what basis?: FP Markets leads it with a score of 4.1. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 7.0 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(28 of 62 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.