To help you find the best online brokers in 2021, we went ahead and did the research for you. First, we selected 93 quality online brokers, then checked and compared basically every aspect of their offering: fees, available markets and products, trading platforms, deposit and withdrawal options and much much more. To be selected best online broker, service providers had to prove their excellence in multiple areas. We dug deep, so you won't have to.
5 brokers made it to the top in Pakistan. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for best international online broker of 2021 for citizens in Pakistan:
- Interactive Brokers is the best international online broker in 2021. Low trading fees. Wide range of products. Many great research tools.
- Saxo Bank takes second place. Great trading platform. Outstanding research. Broad product portfolio.
- TradeStation Global rounds out the top three. Low stock and ETF fees. Wide range of products. Fast customer service.
- Zacks Trade, numero quattro. Low fees. Extensive stock and ETF selection. Great customer service.
- CMC Markets just made it to the list at in fifth place. Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.9 | Best online broker |
| #2 | Saxo Bank | Danish investment bank | 4.8 | Best forex broker |
| #3 | TradeStation Global | UK-based global stockbroker | 4.6 | |
| #4 | Zacks Trade | US discount broker | 4.4 | Best broker for investing |
| #5 | CMC Markets | Global CFD and forex broker | 4.6 | Best forex broker for beginners |
What makes a good online broker? Surely, they need to provide great service in all areas. First of all, they need to offer fair fees and have a good safety score. Opening an account and depositing money should also be user-friendly processes. They need to provide access to a wide range of products and have a great platform.
These features are easy to list, but hard to figure out. We test brokers based on more than ~300 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with our in-depth comparison table.
And now, let's see the best international online brokers in 2021 for citizens in Pakistan one by one, starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Pakistan
Interactive Brokers
Interactive Brokers review summary
Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Our overall Interactive Brokers rating
Compare this broker to the best Interactive Brokers alternative here.
Recommended for traders looking for low fees and a professional trading environment
| Pros | Cons |
|---|---|
| • Low trading fees | • Complicated account opening process |
| • Wide range of products | • Complex desktop trading platform |
| • Many great research tools | • Understaffed customer service |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Free stock and ETF trading for US clients | |
| • Low margin rates |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $1.0 | - |
| UK stock | $4.2 | $11.2 | $2.4 | $16.8 | - |
| EURUSD benchmark fee | $10.7 | $7.8 | $10.7 | - | $7.9 |
| AUDUSD benchmark fee | $8.6 | $6.2 | $8.6 | - | $6.5 |
| GBPUSD benchmark fee | $8.6 | $5.7 | $8.6 | - | $5.7 |
| S&P 500 index CFD fee | $2.8 | $1.4 | $3.8 | - | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | $4.3 | - | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#1 Interactive Brokers
Account opening
IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most account types | • Confusing messages throughout the process |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | >3 days | 1-3 days |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • First withdrawal each month free |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#1 Interactive Brokers
Markets and products
Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | No |
| ETFs | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | No | Yes |
| Funds | Yes | Yes | Yes | Yes | No |
| Bonds | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#1 Interactive Brokers
Web trading platform
Interactive Brokers's web platform is simple and easy to use, even for beginners.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars | 3.8 stars | 4.5 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | 3.0 stars | 3.4 stars |
#1 Interactive Brokers
Verdict
Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.
On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.
There are some drawbacks, though: we weren't satisfied with the level of customer service and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.
If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC. |
| Fees score | 4.2 stars |
| Recommended for | Traders looking for low fees and a professional trading environment |
#2 Best international online brokers for citizens in Pakistan
Saxo Bank
Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA).
Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.
Recommended for investors and traders looking for a great trading platform and solid research
| Pros | Cons |
|---|---|
| • Great trading platform | • High bond, options and futures fees |
| • Outstanding research | • High minimum deposit |
| • Broad product portfolio | • Lacks live chat and 24/7 availability |
#2 Saxo Bank
Fees
Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low fund fees | • High bond, options and futures fees |
| • No withdrawal fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $1.0 | - |
| UK stock | $4.2 | $11.2 | $2.4 | $16.8 | - |
| EURUSD benchmark fee | $10.7 | $7.8 | $10.7 | - | $7.9 |
| AUDUSD benchmark fee | $8.6 | $6.2 | $8.6 | - | $6.5 |
| GBPUSD benchmark fee | $8.6 | $5.7 | $8.6 | - | $5.7 |
| S&P 500 index CFD fee | $2.8 | $1.4 | $3.8 | - | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | $4.3 | - | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#2 Saxo Bank
Account opening
Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
| Pros | Cons |
|---|---|
| • Fully digital | • Minimum deposit is high in certain countries |
| • User-friendly | • Slow account verification |
| • Available in almost every country |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | >3 days | 1-3 days |
#2 Saxo Bank
Deposit and withdrawal
Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Electronic wallets not available for deposit or withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#2 Saxo Bank
Markets and products
Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds are the only areas where the selection could be improved.
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | No |
| ETFs | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | No | Yes |
| Funds | Yes | Yes | Yes | Yes | No |
| Bonds | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#2 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars | 3.8 stars | 4.5 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | 3.0 stars | 3.4 stars |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.
It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.
In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.
| Saxo Bank | |
|---|---|
| Summary | Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA. |
| Fees score | 3.3 stars |
| Recommended for | Investors and traders looking for a great trading platform and solid research |
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#3 Best international online brokers for citizens in Pakistan
TradeStation Global
TradeStation Global is a brand of TradeStation International Ltd, which is based in the UK and is regulated by the top-tier Financial Conduct Authority (FCA).
TradeStation Global is a combined product offered by Interactive Brokers (IB) and TradeStation for clients outside the EU/EEA. Here are its most important elements:
- The account opening, deposit/withdrawal options, and available products are the same as at Interactive Brokers.
- You can use both Interactive Brokers's and TradeStation's own desktop platform.
- TradeStation Global charges its own fees, and offers its own customer support and educational tools.
Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on the NASDAQ, TradeStation itself is not: only TradeStation's parent company Monex is listed, on the Tokyo Stock Exchange.
Recommended for traders and investors looking for low fees and a wide selection of products
| Pros | Cons |
|---|---|
| • Low stock and ETF fees | • Only bank transfer allowed for deposit and withdrawal |
| • Wide range of products | • Complicated account opening |
| • Fast customer service | • Limited education materials |
#3 TradeStation Global
Fees
TradeStation Global has low trading fees, especially for stocks and ETFs. There's no inactivity fee and the first withdrawal each month is free. However, mutual fund fees are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Low stock and ETF fees / Free stock trading |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $1.0 | - |
| UK stock | $4.2 | $11.2 | $2.4 | $16.8 | - |
| EURUSD benchmark fee | $10.7 | $7.8 | $10.7 | - | $7.9 |
| AUDUSD benchmark fee | $8.6 | $6.2 | $8.6 | - | $6.5 |
| GBPUSD benchmark fee | $8.6 | $5.7 | $8.6 | - | $5.7 |
| S&P 500 index CFD fee | $2.8 | $1.4 | $3.8 | - | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | $4.3 | - | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#3 TradeStation Global
Account opening
TradeStation Global's account opening is fully digital and fast, but the process is complicated, and there's a high $1,000 minimum deposit required in order to use TSG's own desktop platform.
| Pros | Cons |
|---|---|
| • Fast | • $1,000 minimum deposit required for desktop platform |
| • Fully digital | • Not user-friendly |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | >3 days | 1-3 days |
#3 TradeStation Global
Deposit and withdrawal
TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | |
| • No charge for the first withdrawal each month. |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#3 TradeStation Global
Markets and products
With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | No |
| ETFs | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | No | Yes |
| Funds | Yes | Yes | Yes | Yes | No |
| Bonds | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#3 TradeStation Global
Web trading platform
You can use your TradeStation Global account to log in to the Interactive Brokers web trading platform. The TSG Client Portal is simple and easy to use even for beginners.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars | 3.8 stars | 4.5 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | 3.0 stars | 3.4 stars |
#3 TradeStation Global
Verdict
TradeStation Global has low stock/ETF fees, provides access to a lot of products and markets and has great customer support. The TradeStation Global desktop platform has great charting tools, plenty of indicators, highly customizable watchlists (Radar Screen) and a great programming tool (EasyLanguage).
On the other hand, the deposit and withdrawal process is not user-friendly and you can use only bank transfer. The account opening is complicated, and for full account verification to use the TSG desktop trading platform, a minimum deposit of $1,000 is required.
If you want access to IB's product range and an account with a slightly different fee structure, feel free to try TradeStation Global.
| TradeStation Global | |
|---|---|
| Summary | TradeStation Global is an introducing broker of Interactive Brokers. This practically means that assets and cash are held with Interactive Brokers, but services like fees and customer support are provided by TradeStation Global. TradeStation Global is regulated by the top-tier UK FCA. |
| Fees score | 3.9 stars |
| Recommended for | Traders and investors looking for low fees and a wide selection of products |
#4 Best international online brokers for citizens in Pakistan
Zacks Trade
Zacks Trade is a US-based discount broker and a division of LBMZ Securities. LBMZ Securities was founded in 1978 and is regulated by the top-tier US financial authorities SEC and FINRA.
LBMZ Securities's clearing and execution services are provided through Interactive Brokers, a global stockbroker regulated by many top-tier financial authorities globally.
If you're familiar with the services of Interactive Brokers, you might notice that many of Zacks Trade's services are the same. To sum up:
- Zacks Trade has its own, different fee structure, product selection, educational tools and customer support.
- The account opening and deposit/withdrawal processes, trading platforms and research tools are the same as at Interactive Brokers.
Zacks Trade is considered safe because it has a long track record and is overseen by top-tier regulators.
Recommended for traders and investors looking for comprehensive research tools, a wide product selection and low fees
| Pros | Cons |
|---|---|
| • Low fees | • Complex desktop platform and research tools |
| • Extensive stock and ETF selection | • Slow and complicated account opening |
| • Great customer service | • Limited educational tools |
#4 Zacks Trade
Fees
Zacks Trade has low trading and non-trading fees. Its stock, ETF and bond trading fees are especially low, while mutual fund fees are quite high.
| Pros | Cons |
|---|---|
| • Low stock and ETF fees / Free stock trading | • High fund fees |
| • No withdrawal fee | |
| • No inactivity fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $1.0 | - |
| UK stock | $4.2 | $11.2 | $2.4 | $16.8 | - |
| EURUSD benchmark fee | $10.7 | $7.8 | $10.7 | - | $7.9 |
| AUDUSD benchmark fee | $8.6 | $6.2 | $8.6 | - | $6.5 |
| GBPUSD benchmark fee | $8.6 | $5.7 | $8.6 | - | $5.7 |
| S&P 500 index CFD fee | $2.8 | $1.4 | $3.8 | - | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | $4.3 | - | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#4 Zacks Trade
Account opening
Zacks Trade has a fully digital account opening for clients all over the world, and there is no minimum deposit. On the negative side, we found the process slow and hard to navigate.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow |
| • No minimum deposit | • Not user-friendly |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | >3 days | 1-3 days |
#4 Zacks Trade
Deposit and withdrawal
Zacks Trade offers one free withdrawal per month for nearly all base currencies. However, you cannot use credit/debit cards or electronic wallets to deposit or withdraw funds.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | |
| • Several account base currencies |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#4 Zacks Trade
Markets and products
Zacks Trade offers international stocks, ETFs and bonds, which is fairly unique for a US broker, as well as US funds and options. However, you cannot trade futures or forex.
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | No |
| ETFs | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | No | Yes |
| Funds | Yes | Yes | Yes | Yes | No |
| Bonds | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#4 Zacks Trade
Web trading platform
The Zacks Trade web platform is simple and easy to use even for beginners.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars | 3.8 stars | 4.5 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | 3.0 stars | 3.4 stars |
#4 Zacks Trade
Verdict
Zacks Trade is a great US discount broker. It is a division of LBMZ Securities, which is regulated by the SEC and FINRA.
On the plus side, Zacks Trade has low fees, outstanding stock and ETF selections and great customer service.
There are some drawbacks though, as its desktop trading platform and research tools are quite complex. The account opening is complicated and slow. Lastly, we missed some useful educational tools.
As Zacks Trade provides a demo account and doesn't require any minimum deposit, feel free to try it.
| Zacks Trade | |
|---|---|
| Summary | Zacks Trade is a US discount broker that also allows international clients to open an account. Zacks Trade is a division of LBMZ Securities, which is regulated by SEC and FINRA. Customers are protected by the SIPC scheme, up to $500,000 (including a $250,000 limit for cash). |
| Fees score | 4.2 stars |
| Recommended for | Traders and investors looking for comprehensive research tools, a wide product selection and low fees |
#5 Best international online brokers for citizens in Pakistan
CMC Markets
CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier UK Financial Conduct Authority (FCA). The company is also listed on the London Stock Exchange.
CMC Markets is considered safe because it has a long track record, is listed on a stock exchange, and is overseen by top-tier regulators.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for an advanced trading platform with many research tools
| Pros | Cons |
|---|---|
| • Low forex fees | • High stock CFD fees |
| • Great web and mobile platforms | • Limited product portfolio |
| • Advanced research and educational tools | • Complicated account verification |
#5 CMC Markets
Fees
CMC Markets has competitive forex and stock index CFD fees, and no fee is charged for deposits and most withdrawals. However, stock CFD fees are high.
| Pros | Cons |
|---|---|
| • Low forex fees | • High stock CFD fees |
| • No withdrawal fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $1.0 | - |
| UK stock | $4.2 | $11.2 | $2.4 | $16.8 | - |
| EURUSD benchmark fee | $10.7 | $7.8 | $10.7 | - | $7.9 |
| AUDUSD benchmark fee | $8.6 | $6.2 | $8.6 | - | $6.5 |
| GBPUSD benchmark fee | $8.6 | $5.7 | $8.6 | - | $5.7 |
| S&P 500 index CFD fee | $2.8 | $1.4 | $3.8 | - | $1.5 |
| Europe 50 index CFD fee | $3.1 | $2.0 | $4.3 | - | $1.9 |
The above calculation includes all spreads, commissions and financing rates (if applicable) for opening a position, holding it for a week, and closing it.
#5 CMC Markets
Account opening
The account opening process is fully digital and there's no minimum deposit, but confusion about what documents to upload for identification can prolong the verification process.
| Pros | Cons |
|---|---|
| • Fully digital | • Complicated account verification |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $2,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | >3 days | 1 day | >3 days | 1-3 days |
#5 CMC Markets
Deposit and withdrawal
You can use multiple deposit/withdrawal options and CFD account base currencies. Withdrawals are mostly free, except for same-day or international bank withdrawals.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • £15 fee for international bank transfers |
| • No deposit fee | |
| • Several account base currencies |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | No | No | No | No | Yes |
| Electronic wallets | No | No | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#5 CMC Markets
Markets and products
CMC Markets's product selection covers only CFDs, forex and crypto. You can't trade other popular asset classes such as real stocks, bonds, mutual funds, options or futures.
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | No |
| ETFs | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | No | Yes |
| Funds | Yes | Yes | Yes | Yes | No |
| Bonds | Yes | Yes | Yes | Yes | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFDs | Yes | Yes | Yes | No | Yes |
| Crypto | Yes | Yes | Yes | No | Yes |
#5 CMC Markets
Web trading platform
CMC's 'Next Generation' platform has a clean and modern design, is highly customizable, and boasts an advanced order panel. On the other hand, it lacks two-step authentication.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | |
| • Modern design |
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars | 3.8 stars | 4.5 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | 3.0 stars | 3.4 stars |
#5 CMC Markets
Verdict
CMC Markets is overseen by top-tier regulators and is one of the best CFD and forex brokers out there.
On the plus side, it has low forex fees, well-developed trading platforms, and useful research and educational tools.
There are also a few drawbacks, though. Stock CFD fees are high, and the account verification process is not always seamless. Also, its product selection covers only CFD and forex asset classes, meaning no real stocks, bonds or mutual funds.
Feel free to test CMC Markets's first-class trading platform, as it has great features and requires no minimum deposit to open an account.
| CMC Markets | |
|---|---|
| Summary | CMC Markets is a UK-based global CFD and forex broker, regulated by multiple top-tier authorities including the UK FCA. |
| Fees score | 3.7 stars |
| Recommended for | Forex and CFD traders looking for an advanced trading platform with many research tools |
Best international online brokers for citizens in Pakistan
What makes a good online broker
Now that you know the top 5, you are probably curious how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago, if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like characters in the movie 'Wolf of Wall Street'. They were constantly monitoring stock prices while holding the phone and shouting. The Internet changed all that. Nowadays, if you want to invest in Apple shares, you open an online account, deposit money, and set up an order on the brokers' online platform. These platforms are the online brokers. Online brokers help you buy and sell securities like stocks and ETFs. After creating your order, the online broker executes it immediately. It all takes place online.
Are these brokers safe?
We consider each broker on our list safe. You can be sure none of them is a scam. All the brokers featured on BrokerChooser are regulated by at least one authority.
However, brokerage companies can still go bust. Remember the collapse of Lehman Brothers? In such cases, it is important to know what happens with your securities and cash. Your funds are usually held in segregated accounts, so even if your broker goes bankrupt, your funds are safe.
If all goes wrong, and for example, the broker steals your assets, then you have a last resort: the compensation fund of the country where the broker is regulated.
How did BrokerChooser pick the best online brokers?
At BrokerChooser, we test online brokers based on more than ~300 criteria, with real accounts and real money. We don\'t want to overwhelm you, so we will list the five most important criteria.
| 1. Fees | The trading fees of a typical US equity trade can be 50 times higher at one online broker compared to another. It's definitely worth checking these fees. |
| 2. Account opening | Some online brokers require a minimum deposint to start investing while others don't ask for a fix first-time deposit. Check these reuirements at the best online brokers. |
| 3. Deposit and withdrawal | At some online brokers, funding and withdrawing funds can take 5 times longer and be much more expensive than at others. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
| 4. Markets and products | You want to invest in Amazon or trade Bitcoin? They might not be available. Check the product lineup before opening an account. |
Best international online brokers for citizens in Pakistan
Bottom line
These were the details, now let's zoom out. Here are the best international online brokers of 2021 for citizens in Pakistan:
| Interactive Brokers | Saxo Bank | TradeStation Global | Zacks Trade | CMC Markets | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.8 | 4.6 | 4.4 | 4.6 |
| Best in | Best online broker | Best forex broker | Best broker for investing | Best forex broker for beginners | |
| Fees score | 4.2 stars | 3.3 stars | 3.9 stars | 4.2 stars | 3.7 stars |
| Account opening score | 3.4 stars | 2.5 stars | 2.8 stars | 2.8 stars | 4.1 stars |
| Deposit and withdrawal score | 3.5 stars | 4.8 stars | 3.5 stars | 3.5 stars | 4.8 stars |
| Markets and products score | 5.0 stars | 5.0 stars | 5.0 stars | 3.8 stars | 2.2 stars |
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars | 4.5 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars | 3.8 stars | 4.5 stars |
| Visit broker | Visit broker | Visit broker | Visit broker |
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67% of retail CFD accounts lose money |
Interactive Brokers is our winner, the best international online broker in Pakistan for 2021. Low trading fees. Wide range of products. Many great research tools.
All of these brokers are considered safe and a great choice. Pick the winner, or any of the runners-up, and take the next step in your investment journey. Let us know what you think in the comments section.
Still unsure? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will show only the relevant brokers. Want more details? Compare brokers with the help of our in-depth comparison table.
