What trading can cost you

Before any of the comparisons on this site matter, one thing has to be clear: leveraged trading can take the whole deposit, and in fast markets it can happen in a single session.

Leverage multiplies both directions. No local retail leverage cap because there is no domestic retail forex/CFD licensing regime; SBP does not permit margin-based currency trading within Pakistan. Offshore brokers (FCA/ASIC/CySEC) used by Pakistani residents advertise up to ~1:1000 (e.g. Exness). As of the review. Source: www.secp.gov.pk, checked 2026-07-07.

An offshore entity can be perfectly real and still leave you with no local recourse. Retail forex/CFD trading itself is not criminalised, but there is no local licensing: SECP does not issue local retail forex/CFD broker licences and SBP does not allow margin-based currency trading inside Pakistan. Residents trade via offshore brokers regulated abroad (FCA, ASIC, CySEC) - legal only where funded through legitimate banking channels; using Hawala/Hundi or unregulated platforms that bypass the banking system is illegal. No SBP-mandated NBP exists domestically. SECP has reiterated (2025) crackdowns on unlicensed currency/commodity-futures operators. Verification: SECP (https://www.secp.gov.pk), SBP (https://www.sbp.org.pk). USD/PKR is rarely offered as a tradable pair. Source: www.secp.gov.pk, checked 2026-07-07.

Before funding an account, read how money leaves it. SBP enforces active exchange controls. Reported outward limits (as of the review): card-based transactions capped around USD 30,000/year; individuals/sole proprietors often limited to roughly USD 10,000/year for outward remittances; earlier 2022 tightening cut per-day FX purchase/remittance to USD 5,000 with an annual cap of USD 50,000. As of Nov 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. Figures as of the review; verify with SBP (https://www.sbp.org.pk). Source: www.secp.gov.pk, checked 2026-07-07.

If trading has started to decide your mood or your spending, stop and withdraw. That is not caution, it is the point at which losses usually get larger.

Two pages that pick up where this one stops: HFM and Pepperstone.