Is forex trading legal in Pakistan? PMEX vs offshore apps

Forex trading is legal in Pakistan only through a broker licensed by SECP (Securities and Exchange Commission of Pakistan) to trade on PMEX, the country’s regulated futures exchange. Offshore forex apps are not a legal route: on 18 May 2022 the State Bank told banks that sending money abroad to offshore forex, margin or CFD platforms is not allowed under the Foreign Exchange Regulation Act, 1947 (FERA).

Is online forex trading legal in Pakistan?

It depends on where your money goes.

• PMEX route: legal. SECP said on 22 May 2025 that trading in securities and commodities “can only be carried out through SECP-licensed securities and futures market brokers”.
• Offshore apps: not legal for residents. SBP’s circular of 18 May 2022 says buying products from offshore forex, margin and CFD platforms by residents of Pakistan “is a violation of section 4(1) of the FERA”. It named OctaFX and Easy Forex as examples.

The State Bank also said no permission has been given under section 5(1) of FERA to send money to such platforms “through any payment channel”. Banks must warn customers, block these payments and can face penalties if they let them through.

Which forex trading platform is legal in Pakistan?

The legal route is PMEX. Here is how it compares with an offshore app, as of October 2026:

The table covers legality, not profit. PMEX futures are traded on margin, so a small price move can wipe out the money you put down.

What is PMEX?

PMEX is Pakistan Mercantile Exchange, the country’s futures exchange. Its corporate page says SECP licenses it as a futures exchange under the Futures Market Act, 2016, and that it has been fully operational since 2007. It lists futures on metals, energy, farm products and financial instruments. You don’t trade on PMEX directly: you trade through a broker registered with PMEX and supervised by SECP.

PMEX also lists currency-pair futures such as EUR/USD, GBP/USD and USD/JPY, in lots of 10,000 units, according to a PMEX member broker’s trading guide. PMEX’s website blocked our access on 8 October 2026, so we couldn’t check its current contract list. Check it there before you trade.

How do I check if a forex broker is PMEX-registered?

SECP says the lists of authorised brokers are on the websites of the Pakistan Stock Exchange and Pakistan Mercantile Exchange. Before you open an account:

1. Find the broker’s exact company name on PMEX’s broker list at pmex.com.pk.
2. Make sure the website or app you are using belongs to that same company, not a look-alike.
3. Never deposit to an individual’s personal account.

which.pk doesn’t recommend any broker. A name on the list means it is licensed, not that it is cheap or good.

Is PMEX trading halal?

We couldn’t find a Shariah ruling on PMEX futures, from PMEX or SECP, that we could open and check. If this matters to you, take PMEX’s contract terms (margin, settlement and expiry) to a qualified Shariah scholar.

For other ways to put money to work, see investment options in Pakistan and how to invest in PSX. If you are being offered crypto instead of forex, read is crypto legal in Pakistan.

More guides: Investing, how to buy crypto in Pakistan, mutual funds in Pakistan.