FP MarketsCFDs carry a high risk of losing money rapidly due to leverage.
FP Markets is a global operation founded in 2005 with its HQ in Sydney. For Pakistani residents, the account is onboarded through the offshore arm, specifically FP Markets Seychelles FSA entity under licence SD130 or FP Markets LLC (SVG). The regulation sits offshore. You won't find a local SECP (Securities and Exchange Commission of Pakistan) licence here, because the SECP doesn't issue them for retail forex brokers of this type.
On the Raw account, the NAS100 spread is published from 0.0 pips. The average typically hovers between 0.0 and 0.1 pips. The commission is roughly USD 6 per round-turn lot, which breaks down to about USD 3 per side. The Standard account is commission-free with the cost baked into the spread, which runs around 1.0 to 1.2 pips on NAS100.
The Raw Numbers
| Metric | Raw Account | Standard Account |
|---|---|---|
| NAS100 Spread | From 0.0 to 0.1 pips | ~1.0 to 1.2 pips |
| Commission | ~USD 6 per round-turn lot | None |
| Typical Cost per Lot | ~USD 6 + 0.0 pip | ~USD 10-12 (via spread) |
| Best For | Scalping, EAs, high volume | Swing trading, beginners |
If you're turning over a lot of volume, the Raw account wins. If you're holding positions for days and trading less frequently, the Standard account lets you avoid the per-trade commission.
The USD 6 figure is for a 1.0 standard lot. If you trade micro lots, scale it down proportionally.
Platform Tools
FP Markets provides MT4 with essential plugins and indicators included. You are not paying for a stripped-down version.
- Full MQL4 support for custom indicators and Expert Advisors
- One-click trading functionality for fast market entries
- 9 timeframes for daily discipline down to scalping entries
- Market Watch with custom symbol aggregation
- Built-in strategy tester for backtesting EAs
The mobile app mirrors the desktop data. If you run an EA on your PC, it only runs when the PC is on. The mobile app is for monitoring and manual trades. Server-side stops and limits will work despite your PC being offline.
Leverage Explanation
In Pakistan, the State Bank of Pakistan (SBP) does not permit margin-based currency trading within Pakistan. Pakistani residents trading via FP Markets use the offshore Seychelles FSA entity, which allows leverage of up to 1:500.
| Account Leverage | Profile | Risk Boundary |
|---|---|---|
| Up to 1:500 | High frequency, expert advisors, short-term holds | Margin call at 0.2% adverse move |
| 1:100 - 1:200 | Conservative intraday, swing positions | Margin call at 1% adverse move |
| 1:50 or lower | Position trading, news holds | Margin call at 2%+ adverse move |
The leverage limit is a tool, not a recommendation to use all of it. At 1:500, a 0.2% adverse move against a full position wipes the account. You don't get a second chance to be right.
Deposit and Withdrawal
FP Markets has a minimum deposit of USD 100. There are no broker-side deposit fees, though you will pay bank wire charges or card fees from your local bank.
The base currency for your account is typically USD, EUR, GBP, or AUD. There is no PKR-denominated account. This means you pay the PKR-USD conversion cost when you fund.
| Funding Method | Minimum | Speed | Notes |
|---|---|---|---|
| Bank Wire | USD 100 | 1-3 business days | Standard, but slower |
| Credit/Debit Card | USD 100 | Instant | Easiest for first deposit |
| E-wallets (Skrill/Neteller) | USD 100 | Instant | Faster withdrawals |
FP Markets accepts cards, bank wire, and e-wallets. Local mobile wallets like Easypaisa and JazzCash are not verified at review.
Costs Comparison
The real cost of trading is the combined total of execution slippage, swap rates, and currency conversion fees.
| Instrument | Raw Spread (Typical) | Commission per Round Lot | Total Round-Turn Cost |
|---|---|---|---|
| NAS100 | 0.0 - 0.1 pips | USD 6 | ~USD 7 |
| NAS100 | 0.2 - 0.4 pips | USD 6 | ~USD 9 |
| XAU/USD (Gold) | 15 - 20 cents | USD 6 | Varies |
The swap fee is where you lose money if you hold positions overnight. FP Markets offers a swap-free Islamic account, available for Pakistani clients, which removes the swap entirely. For a swing trader holding a position for two weeks, the swap on a standard account could be higher than the spread itself.
Tax Logic
Trading profit for residents is treated as income under Pakistan's tax framework. Where treated as capital gains on movable assets, it is taxable at your normal income slab rate. The key trigger is the reporting threshold: if your foreign income exceeds USD 10,000 in a tax year, you must file a Foreign Income and Assets Statement with the Federal Board of Revenue (FBR). If your foreign assets exceed USD 100,000, you also have filing obligations. Residents are taxed on worldwide income.
Crypto gains are taxed at a flat 15% capital gains rate as of the review.
This is a summary of the framework, not tax advice. Verify with the FBR (https://www.fbr.gov.pk).
Regulatory Status and Exchange Controls
FP Markets is not regulated by SECP in Pakistan and does not hold a local licence. The group was founded in 2005 and is multi-regulated in other jurisdictions. However, the offshore entity serving Pakistani clients has been flagged on a Fintelegram 'orange' list. No local regulatory protection exists. If there is a dispute, you are dealing with the Seychelles FSA or SVG framework, not a Pakistani court.
The State Bank of Pakistan enforces active exchange controls. Card-based transactions are capped around USD 30,000/year. Individuals and sole proprietors are often limited to roughly USD 10,000/year for outward remittances. As of November 2025, SBP mandated foreign currency sold to residents move only through digital channels. Remittances above prescribed limits require SBP FEOD approval via banks' FX Portal.
Retail forex/CFD trading itself is not criminalised. Pakistani residents trade via offshore brokers regulated abroad (FCA, ASIC, CySEC), and this is legal provided you fund through legitimate banking channels. Using Hawala/Hundi or unregulated platforms that bypass the banking system is illegal.
CFD instruments and trading platforms
FP Markets offers 10,000+ CFDs: 60+ FX pairs, indices, commodities, shares, ETFs, bonds and crypto CFDs. The platforms available are MT4, MT5, cTrader, and TradingView (IRESS is Australia-only).
Where this leaves you
FP Markets on MT4 is a viable choice if you are cost-conscious and understand the offshore regulatory structure. The Raw account with its 0.0 pip spreads and flat commission is a legitimate structure for scalping. The platform is stable, execution is competitive, and the instrument range is broad.
Fits if you
You run an Expert Advisor or scalping strategy where every pip counts. You want access to 10,000+ CFDs across 60+ FX pairs, indices, commodities, and more. You understand the trade-off of an offshore entity and manage your leverage accordingly.
Doesn't fit if you
You need a broker with local SECP regulation and local dispute resolution. You want a PKR-denominated account to avoid conversion fees. You value local regulatory protection over cost structure.
Questions
Does FP Markets MT4 support Expert Advisors?
Yes. MT4 has full MQL4 support. You can write, test, and deploy custom EAs. The strategy tester lets you backtest against historical data before putting real money on the line.
Is the Islamic swap-free account available on MT4?
Yes. FP Markets offers a swap-free Islamic account, available for Pakistani clients. It is available on MT4 and other platforms like MT5 and cTrader. You get the same spreads, and no overnight swap interest is charged on your positions.
Is there a difference between the MT4 desktop and mobile app versions?
The core data is identical, but the mobile app is for management and monitoring only. You cannot run an EA on your phone. The desktop version is your tool for automated strategies, while the mobile app gives you monitoring and manual trade execution on the go.
How long does it take to withdraw money from FP Markets?
E-wallets like Skrill and Neteller tend to be faster, often within a day. Bank wire transfers can take 2-5 business days depending on your local bank's processing. The request itself is processed quickly by the broker, but the banking system dictates the actual arrival time.