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24 June 2024
Almaz Admin
7 Best Online Trading Apps in Pakistan
The global online trading market has been in a steady upward trend since 2020. Valued at $8.28 billion in 2020, the market is expected to reach the valuation of $13.3 billion by 2026. Trading apps are largely to be credited for this growth as they have made it easier and more convenient for individuals to […]

The global online trading market has been in a steady upward trend since 2020. Valued at $8.28 billion in 2020, the market is expected to reach the valuation of $13.3 billion by 2026.

Trading apps are largely to be credited for this growth as they have made it easier and more convenient for individuals to invest in the stock market. Pakistan is no exception to this trend. Recently, there has been a significant rise in the usage of trading apps among its population.

If you're new to online trading and looking for the best options available, the guide below covers the best trading apps in Pakistan for a beginner. We also cover the basics of making money through stock trading in the country.

Beginner's List of Pakistan Online Trading Apps

The following apps let you trade a wide range of financial instruments, including stocks, bonds, currencies, and cryptocurrencies. Let's discuss them in detail to help you decide which trading platform to use.

Features IQ Option HotForexQuotexExness IC Markets AvaTrade Pocket Option 
Trading Instruments Forex, crypto, stocks, commodities, indices, ETFs Forex, metals, energies, crypto, stocks, commodities, indices, ETFsForex, cryptocurrencies, stocks, indices, ETFs, commoditiesForex, commodities, stocks, indices, cryptoForex, commodities, stocks, indices, crypto, bonds, futuresForex, commodities, stocks, indices, crypto, bonds, ETFsForex, commodities, stocks, cryptocurrencies, indices 
Practice Account Yes YesYes YesYesYesYes
Minimum Deposit $10 $5$10 $10$500$100$5
Regulated By Cyprus Securities and Exchange Commission (CySEC)FCA (UK), FSCA (South Africa), FSA (Seychelles), DFSA (Dubai), and CMA (Kenya)IFMRRC through the parent company Awesomo Ltd; no state-level regulation Cyprus Securities and Exchange Commission (CySEC)Financial Services Authority of Seychelles (FSA)ASIC (Australia), FSA (Japan), FSCA (South Africa), CySEC (Cyprus), ISA (Israel), BVIFSC (British Virgin Islands)Mwali International Services Authority (MISA)
App Availability Android Play Store, Android APK, Apple App Store Android Play Store, Apple App Store Google Play Store Apple App Store, Google APK Android Play Store, Apple App Store Android Play Store, Apple App Store Android Play Store, Android APK
  1. IQ Option

Minimum Deposit: $10

Minimum Investment: $1

Instruments: 27 ETFs, 15 Indices, 9 commodities, 52 cryptocurrencies, 185 stocks, and 38 Forex pairs

IQ Option 

IQ Option is one of the most suitable trading apps for a beginner due to its minimal low deposit and investment requirements. It also offers a user-friendly interface with a demo account option for traders to practice and hone their skills before investing real money.

With a variety of financial instruments available, including cryptocurrencies, this app is a great choice for diversifying your portfolio. It also offers multiple payment methods to withdraw and deposit money, including credit/debit cards, e-wallets, and bank transfers.

For technical analysis, traders get access to a multi-chart layout. It shows historical quotes, market trends, a news feed, and trading volumes. You can trade smartly with over 100 technical indicators and widgets.

Features like negative balance protection, trailing stop, take profit, and stop loss further assist in risk management. IQ Option also has a thriving trading community with which you can discuss ideas and strategies. Trader Sentiment is a notable feature that shows the general consensus of other traders around buying or selling a specific asset.

The app also comes with 24/7 multilingual support in ten languages, including Hindi, which makes it accessible to Pakistani traders.

Pros

  • A balanced selection of financial instruments
  • Demo account option
  • Diverse payment methods
  • A trading community for social trading

Cons

  • No algorithmic trading
  • Delays in withdrawals
  1. HotForex

Minimum Deposit: $5 for Premium, Cent, & Zero accounts; $100 for Pro account; $250 for Pro Plus account

Minimum Investment: In cents

Instruments: 500+ (Forex, metals, energies, stocks, commodities, bonds, ETFs, crypto)

HotForex

If you're a beginner who doesn't want to jump right in with tenners and would rather start trading in cents, HotForex is the best stock trading app in Pakistan for you. Its Cent account is the best option for beginners since it lets you trade in cents, has zero commissions, and is swap-free.

If you don't even want to spend your cents, you can start with a demo account. It gives you up to $100,000 of virtual balance to spend in real market conditions. The demo account also provides access to the MT4 and MT5 terminals.

HotForex has been around since 2010 and has served 2.5 million client accounts since then. With over 500 trading instruments and 41,000 partners, the online broker is well-established and trusted.

The app also allows copy trading, which is a convenient way to emulate the trades of top-performing traders. Plus, you can invest through Percentage Allocation Management Module (PAMM), which is a way to invest in the markets through experienced fund managers.

The MT4 and MT5 trading platforms are also available for you to try as you advance your trading game. Both platforms offer advanced charting tools and automated trading through expert advisors.

HotForex offers plenty of deposit and withdrawal options, including bank transfers, credit/debit cards, and alternate options like Skrill, Neteller, and even crypto.

Pros

  • Cent account option for beginners
  • Copy trading and PAMM options
  • Availability of MT4 and MT5 platforms
  • Decent selection of funding options

Cons

  • High minimum deposit for Pro Plus account
  • Limited educational resources 
  1. Quotex

Minimum Deposit: $10

Minimum Investment: $1

Instruments: Over 400 (Forex, cryptocurrencies, stocks, indices, ETFs, commodities)

Quotex mobile app 

Quotex is another trading platform to try if you're a beginner in the Pakistani trading space. One of the most notable features of the app is its user-friendly interface. You get access to all the instruments you need, and you can quickly switch between them as required.

Quotex also offers integrated signals to help guide your trading decisions. The platform claims its signals are 87% accurate, helping you create a profitable strategy.

Similarly, you can use trading indicators like RSI, MACD, and others to help you make informed trading decisions. The 24/7 customer support team is available to assist you if there is any issue.

Quotex offers a demo account where you can practice trading strategies and get familiar with the platform's features. It also has bonus programs, which are basically tournaments that you can get to get some extra cash on your trades.

As for payment options, you can enjoy the usual bank transfers, credit/debit cards, cryptocurrencies, and payment apps.

Pros

  • Multiple trading assets
  • Low minimum deposit and investment
  • User-friendly interface with integrated signals
  • Demo account and bonus programs available

Cons

  • No leverage
  • No copy trading
  • Not regulated at the state level 
  1. Exness

Minimum Deposit: $10

Minimum Investment: $1

Instruments: Forex, commodities, stocks, indices, crypto

Exness app 

Exness is a suitable online trading app for beginners who want to trade on a variety of instruments. The platform claims to be the world's largest retail broker, with more than 800,000 active traders and 24/7 customer support.

It is also compliant with the Payment Card Industry Data Security Standard (PCI DSS), ensuring the safety of your personal and financial information. To start, you can create a demo account and get a feel for the app.

Exness offers instant withdrawals. All it takes is a click to confirm your deposit or withdrawal. It also lets you trade confidently in volatile periods with stable and tight spreads. With execution in milliseconds, you can place trades quickly and benefit from market opportunities.

Part of the reason Exness is considered such a reliable broker is its tight security measures. Not only is it licensed by multiple authorities, but it also offers account security options, including email or phone. Exness also has a Web Application Firewall (WAF) to monitor and block malicious web traffic, XSS attacks, SQL injections, and other web threats.

The app comes with a host of trading tools, such as advanced charting and price alerts. You can take advantage of popular indicators to make smart trade decisions. Also, set push notifications to stay updated on market movements.

There's also an in-app calculator to calculate your swaps, spreads, and margins without leaving the app. You can also view your trading history and have a detailed review of each order.

If you come to prefer some instruments over others, you can bookmark them within the app. Some analytical tools in the Exness app include an economic calendar, FXStreet market news, and trading signals.

Pros

  • A wide array of account types
  • No deposit or withdrawal feels
  • Licensed by eight authorities
  • Top-notch security

Cons

  • Limited educational materials
  • 24/7 customer support is unavailable in all languages 
  1. IC Markets

Minimum Deposit: $200

Minimum Investment: Under $5

Instruments: Forex, commodities, stocks, indices, crypto, bonds, futures

IC Markets app 

IC Markets is a suitable trading application for religion-oriented Pakistani stock or bond traders. Islamic accounts are ideal for Muslim traders who cannot pay or earn interest because of their religious beliefs.

These accounts offer a swap-free option. The option is available on the Standard and Raw Spread account types on cTrader, MetaTrader 5, and MetaTrader 4 platforms. You can trade in more than 90 instruments with spreads as low as 0.0 pips.

Apart from this, what makes IC Markets a great option is fast order execution. Your orders go through in under 40 milliseconds, thanks to the broker's Equinix NY4 server and low-latency fiber optic.

If you want to try your shot at automatic trading, IC Markets works for that, too. Its New York Equinix NY4 data center processes more than 500,000 trades daily, two-thirds of which are automated.

The IC Markets mobile app spoils you for choice in terms of financial instruments. It offers over 61 Forex products, 24 commodities, 2,100+ stocks, 25 indices, 9 bonds, and 21 cryptocurrencies.

You can use a wide range of payment options, such as credit/debit cards, PayPal, Skrill, Neteller, and bank wire transfers. If you're using the cTrader or MetaTrader 5 platforms, you can download their native apps for the best experience.

Pros

  • Low Forex fees
  • Islamic accounts for Pakistani traders
  • Free deposits and withdrawals
  • Access to copy trading

Cons

  • Lack of educational content
  • No investor protection for non-EU traders
  • Slow chat support 
  1. AvaTrade

Minimum Deposit: $100

Minimum Investment: $1

Instruments: Forex, commodities, stocks, indices, crypto, bonds, ETFs

Avatrade app

AvaTrade is a globally renowned broker with a strong presence in the forex market. It offers trading on over 250 instruments, including popular currency pairs, commodities, stocks, indices, and more.

AvaTrade's trading platform is available for both iOS and Android devices. It offers a user-friendly interface with advanced charting tools and customizable layouts. You can also access the platform on your desktop through the web version.

The app comes with a demo account option, which is a great feature for beginners to practice trading strategies without risking real money. You can also switch to a live account with a minimum deposit of $100.

The app comes with a proprietary feature called AvaProtect™, which allows you to hedge your trades and minimize the risk of losses. Plus, you can see market trends in real time and tap into the trader community to gain insights from experienced traders.

It's due to these features that the AvaTrade app was voted the Best Forex Trading App in 2020. More importantly, the app is licensed and regulated across nine jurisdictions, including Australia, and Japan.

Unlike some other online trading apps on this list, AvaTrade also provides a host of learning materials. As a new trader, you can go through AvaTrade's trading eBook to learn the basics of forex and future trading. You can also access video tutorials from the platform's website.

Pros

  • Licensing and regulation across five continents
  • Customer service in over 10 languages
  • User-friendly interface and educational resources
  • Access to a demo account and AvaProtect™ feature

Cons

  • High inactivity fees
  • Slow customer service response time 
  1. Pocket Option

Minimum Deposit: $5

Minimum Investment: $1

Instruments: Forex, commodities, stocks, cryptocurrencies, indices

Pocket Option 

Pocket Option is a Forex and stock trading app where you can invest as little as $1 to get started. What makes this app a good option for beginners is that you only need $5 to kickstart your trading journey.

Since there are over 50 payment methods, Pakistani traders shouldn't face any issues when it comes to funding their accounts. In fact, you can also fund your account with Easypaisa, which is a popular mobile payment system in Pakistan.

With over 100 assets for trading, you have a wide variety of options to choose from. The app doesn't charge any commission for deposits or withdrawals either. If you're not too confident in your trading skills, you can start with a demo account with $50,000 in virtual money.

Pocket Option also has a comprehensive suite of educational resources, including guides and tutorials, for beginners to learn. The platform also offers trading advantages, such as cashback, to make your trading experience as minimally risky as possible.

You can further use the in-app signals and indicators to make informed trading decisions. Pocket Option also offers regular bonuses, promo codes, contests, and gifts to keep you engaged and motivated. If you're feeling lucky, you can also take part in one of the many trading tournaments the platform holds.

Another highlighting feature of Pocket Option is social trading. You can follow and copy trades from successful traders on the platform to make money. The system is fully automated and easily adjustable based on your current investment.

Besides the Android app, Pocket Option can also be downloaded for Xiaomi and Huawei devices. The app also has a great community that you can reach for assistance.

Pros

  • Low minimum deposit
  • No commission fees for deposits and withdrawals
  • Wide variety of payment methods, including local options like Easypaisa
  • Social trading option

Cons

  • Slow customer support
  • High deposit amount required for MetaTrader 5 Forex trading 

Bonus App: Alamz 

Are you the kind to not bother yourself with the inner workings of the stock exchange or the complex terminology of trading? Then, Almaz is the perfect app for you.

Almaz app 

Almaz is a mobile wallet that lets you perform peer-to-peer (P2P) transactions between users. These transactions have to be confirmed by a guarantor, and that's what you do on Almaz.

Basically, you confirm the transfer of money between two users, and you earn a commission in the process. Keeping the religious beliefs of Pakistani users in mind, Almaz gives you remuneration for your work and not interest.

Since Almaz's digital asset is pegged 1:1 to the PKR, it eliminates the confusion that comes with currency conversions. Using the app is as simple as registering, confirming deals, and then making money for every operation. There's no need for a massive investment or any specialized skilling.

So, start making money with Almaz today! 

How Much Does It Cost to Use the Best Online Trading Platforms in Pakistan?

The cost of trading online differs across platforms. It will likely depend on the platform you select and the kind of account you make.

As you can see from our list, we mainly added apps for beginners. So, you'll need as little as $10 to get started with most of these platforms. IC Markets is an exception and requires a minimum deposit of $500 to start trading. Similarly, AvaTrade requires $100 as a minimum deposit.

Although the other platforms have a low minimum deposit requirement, they are just for the lower-tier accounts. If you opt for the Pro account, then there may be higher deposit requirements.

Apart from the initial deposit amount, you will incur transaction fees. These fees are often charged on a per-trade basis and may vary depending on the platform, type of asset, and trading volume.

Some platforms also charge inactivity fees if your account remains idle for a certain period of time. You may have to pay a small fee on withdrawals and deposits, too.

Together, these costs can be anywhere from a few dollars to hundreds of dollars, depending on your trading activity.

Since USD converted to PKR is quite high, even a few dollars can make a significant difference in your overall trading cost. So, you should assess the cost of trading before selecting a platform.

As a beginner, we'd recommend starting with the demo account first. Here, you can blow your virtual cash on trades without any risk. Once you get a hang of the platform, you can deposit real money into your account.

Making Money Through Online Trading in Pakistan

Now that you have a list of the best online trading apps in Pakistan, you can download the one that best fits your needs and get started. Take advantage of the educational resources and tutorials provided on these platforms. If you think an automated approach would work best for you, opt for social or copy trading features.

The key is to stay consistent. Online trading won't make you rich overnight, but it's a great way to grow your wealth over time, provided you're committed to learning. Having said that, only invest the amount you can afford to lose and practice risk management strategies to minimize losses.

FAQs

Is Online Trading Legal in Pakistan?

Yes, online trading is legal in Pakistan. However, online brokers are not required to get authorization from the Securities and Exchange Commission of Pakistan (SECP) to offer their services to Pakistani residents. Since the regulatory landscape is constantly evolving, it’s important for traders to stay vigilant about any change in local regulations. 

Which app is the best trading app in Pakistan?

Some of the top trading apps in Pakistan include IQ Option, Pocket Option, HotForex, and Quotex. All these apps have a ton of financial instruments to trade and come with demo accounts. Plus, they have a low minimum deposit, making it easy for beginners to get on board. It's best if you do your due research and select an app based on your preferences.

How do I start online trading in Pakistan?

To start online trading in Pakistan, you'll need to download a trading app or access an online trading platform through a browser. Create an account, verify your identity, and fund your account to get started.