FP Markets| Regulation | Offshore · no local licence in Pakistan |
|---|---|
| Availability | Pakistani retail clients are onboarded via the offshore arm |
| Max leverage | Up to 1:500 under the offshore entity |
| Costs | Raw: NZD/USD from 0.0-0.1 pips + ~USD 6 per round-turn lot |
| Platforms | MT4, MT5, cTrader and TradingView (IRESS Australia-only) |
| Instruments | 10,000+ CFDs |
| Local payments | Cards, bank wire and e-wallets |
| Minimum deposit | $100 |
| Regulator | FCA, CySEC |
CFDs carry a high risk of losing money rapidly due to leverage.
The First Number: The Raw Spread
On the Raw account, NZD/USD spreads run from 0.0 to 0.1 pips, with a commission around USD 6 per round-turn lot. FP Markets publishes this openly for its offshore arm, which is the entity that services Pakistani retail clients via the Seychelles FSA (licence SD130).
The Standard account is commission-free but carries a built-in spread of roughly 1.0 to 1.2 pips on NZD/USD. The Raw account is usually the better deal for scalpers or anyone holding positions for more than a few minutes, though your mileage depends on your average holding time.
The Local Regulatory Picture
FP Markets holds no SECP (Securities and Exchange Commission of Pakistan) licence. Pakistani clients are onboarded via the offshore Seychelles FSA entity (licence SD130) or FP Markets LLC (SVG). This means there are no reported local restrictions on accessing the broker, but it also means no local regulatory protection for your account.
Neither the State Bank of Pakistan (SBP) nor the SECP issues licences for retail spot-forex or CFD brokers. Most residents access the market through offshore brokers regulated abroad. The Seychelles entity does not fall under the same investor-compensation schemes you'd find with an FCA or ASIC-regulated firm.
No SECP oversight means disputes with the Seychelles entity would not be handled by a Pakistani regulator. That is what you accept when you open an account under this arm.
Cost Breakdown by Account
FP Markets offers two core account structures for retail traders on MT4, MT5, cTrader, and TradingView:
| Account Type | Spread (NZD/USD) | Commission | Min Deposit |
|---|---|---|---|
| Raw | 0.0 - 0.1 pips | ~USD 6 per lot round-turn | USD 100 |
| Standard | ~1.0 - 1.2 pips | None | USD 100 |
There is no PKR-denominated account, so your base currency will be USD, EUR, GBP, AUD, or another major. You'll absorb the PKR-USD conversion cost when funding. Local rails like Easypaisa and JazzCash are not verified as direct funding options at this review. You can use cards, bank wire, or e-wallets like Skrill and Neteller.
Instruments and Platforms
FP Markets covers MT4, MT5, cTrader, and TradingView globally. IRESS is Australia-only and not available to Pakistani clients.
Instrument coverage sits at over 10,000 CFDs: more than 60 FX pairs, plus indices, commodities, shares, ETFs, bonds, and crypto CFDs.
Leverage and Trading Terms
Leverage reaches up to 1:500 under the offshore entity, with no local Pakistani cap applied. At 1:500, your margin is roughly 0.2%.
The swap-free Islamic account is available for Pakistani clients, which is relevant if you're avoiding overnight interest charges.
Exchange Controls and Funding
The SBP enforces active exchange controls. As of the review, card-based transactions were capped around USD 30,000 per year, and individual outward remittances often ran near USD 10,000 per year. If you're planning meaningful deposit sizes, verify the current limits with your bank.
Deposits use cards, bank wire, or e-wallets. Minimum deposit is USD 100, with no broker-side deposit fees. Funding through legitimate banking channels keeps you compliant with SBP rules. Using Hawala or Hundi networks to bypass the banking system is illegal.
Regulatory and Reputation Notes
The group's offshore arm has been flagged on a Fintelegram 'orange' list. FP Markets has operated since 2005 and is headquartered in Sydney, Australia.
| Feature | FP Markets | FxPro |
|---|---|---|
| Regulation | Offshore · no local licence in Pakistan | FCA · CySEC · FSCA |
| Max leverage | Up to 1:500 under the offshore entity | 1:30 (EU) · 1:500 (global) |
| Platforms | MT4, MT5, cTrader and TradingView (IRESS Australia-only) | MT4, MT5, cTrader, FxPro Edge |
Pros and cons
Questions
Can I open an FP Markets account from Pakistan?
Yes. Pakistani retail clients are onboarded via the offshore Seychelles FSA entity (licence SD130) or FP Markets LLC (SVG). There are no reported local restrictions blocking access.
Is FP Markets legal in Pakistan?
Retail forex and CFD trading is not criminalised in Pakistan, but there is no local licensing regime. This broker holds no SECP licence and operates under the Seychelles FSA. Residents trade via offshore brokers like this one, funded through legitimate banking channels. Funding via Hawala or unregulated platforms is illegal.
What is the maximum leverage for Pakistani clients?
Leverage goes up to 1:500 under the offshore entity. There is no local Pakistani cap applied since there is no domestic retail forex or CFD licensing framework.
Do I pay tax on forex profits in Pakistan?
The Federal Board of Revenue taxes forex and derivatives trading profit. It is generally taxed as income, or as capital gains on movable assets at your normal slab rates. You must file a Foreign Income and Assets Statement if foreign income exceeds USD 10,000 or foreign assets exceed USD 100,000 in the tax year. Check with FBR or a tax advisor for your specific case.
Does FP Markets offer an Islamic account?
Yes. The swap-free Islamic account is available, which is relevant if you're avoiding overnight interest charges.