To find the best international online brokers in Pakistan, we went ahead and did the research for you. After testing, analyzing and comparing 63 brokers, 5 made it to the top. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for the best international online brokers of 2020 for citizens in Pakistan:
- Interactive Brokers is the number one international online broker in 2020. Wide range of products. Many great research tools. Regulated by several authorities.
- Saxo Bank is your runner-up. Great trading platform. Outstanding research. Broad product portfolio.
- TradeStation Global rounds out the top three. Low trading fees. Wide range of products. Fast and relevant customer service.
- IG, numero quatro. First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
- Pepperstone. Low forex and equity index CFD fees. Great customer service. Seamless and free deposit and withdrawal. Just made it to the list at number five.
| 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 web trading platform |
| #3 | TradeStation Global | UK-based global broker | 4.6 | Best broker for buy and hold |
| #4 | IG | Global CFD and forex broker | 4.6 | |
| #5 | Pepperstone | Australian forex broker | 4.5 |
What makes a good online broker? First of all, they must offer fair fees and have a good safety score. It should also be easy to open an account and deposit money. They should give you access to many products, and they need to have a great trading platform.
Easy to list, but hard to figure out. That’s why we are testing brokers along more than 100 criteria, using real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology.
Not sure which broker? For a tailored recommendation, check out our broker finder tool. You can enter your country, and it will narrow down the list of brokers to those that are available where you live. Want more details? Compare brokers with this detailed comparison table.
And now, let's see the best international online brokers in 2020 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 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, the broker is considered safe. Also, having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.
Recommended for traders looking for low fees and a professional trading environment
| Pros | Cons |
|---|---|
| • Wide range of products | • Extremely complex desktop trading platform |
| • Many great research tools | • Complicated account opening process |
| • Regulated by several authorities | • High inactivity fee |
#1 Interactive Brokers
Fees
Interactive Brokers has low trading fees and for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • Low stock and ETF fees | |
| • Low financing rate | |
| • Free stock and ETF trading for US clients |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $15.0 | - |
| UK stock | $7.2 | $9.6 | $2.4 | $9.6 | - |
| EURUSD benchmark fee | $17.9 | $15.7 | $17.9 | $16.8 | $14.8 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#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 online registration is complicated and account verification takes around 2 business days.
| Pros | Cons |
|---|---|
| • Fully digital | • Not user-friendly |
| • No minimum deposit for most accounts types | • Confusing messages throughout the process |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1-3 days | 1 day |
#1 Interactive Brokers
Deposit and withdrawal
Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | • Not user-friendly |
| • First withdrawal each month free |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | 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, with every product type available.
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | No |
| ETF | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | Yes | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#1 Interactive Brokers
Web trading platform
Interactive Brokers's web platform is simple and easy to use even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars | 4.3 stars | 5.0 stars | 2.8 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 3.5 stars | 5.0 stars | 3.8 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | - | 3.3 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 for advanced traders.
On the plus side, IB has a vast range of markets and products available, with diverse research tools and low costs.
There are some drawbacks though: there is a high inactivity fee and the account opening process is complicated. The desktop platform is complex and hard-to-understand, especially for beginners.
If you have experience navigating complex platforms and you like 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 | 4.3 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 is a Danish investment bank founded in 1992, providing online trading and investments. 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. In the different regions, its subsidiaries are present in the form of separate legal entities. The services offered by each entity might change slightly especially in case of their fees and products available to trade. In this review, we tested Saxo Bank UK.
Saxo Bank is considered safe because it has a long track record, has 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. The fees for forex, mutual funds and stock index CFDs are low, while they are average for real stocks, ETFs or stock CFDs. Bond, options and futures fees are high.
| Pros | Cons |
|---|---|
| • Low fund fees | • Inactivity fee |
| • No withdrawal fee | • High bond, options and futures fees |
| • Transparent fee structure | |
| • Lower fees for Platinum and VIP clients |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $15.0 | - |
| UK stock | $7.2 | $9.6 | $2.4 | $9.6 | - |
| EURUSD benchmark fee | $17.9 | $15.7 | $17.9 | $16.8 | $14.8 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#2 Saxo Bank
Account opening
Saxo's account opening is fully digital, user-friendly, and available in most of the world. 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 | • Relatively slow account verification |
| • Available in almost every country | • |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1-3 days | 1 day |
#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 are not available for deposit or withdrawal |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#2 Saxo Bank
Markets and products
Saxo Bank's product portfolio is great. It covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where its selection could be improved.
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | No |
| ETF | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | Yes | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#2 Saxo Bank
Web trading platform
Saxo Bank's web trading platform is one of the best among online brokers. It's easy to use, but also provides features favored by 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 | IG | Pepperstone | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars | 4.3 stars | 5.0 stars | 2.8 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 3.5 stars | 5.0 stars | 3.8 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | - | 3.3 stars |
#2 Saxo Bank
Verdict
Saxo Bank is a great broker, providing a complex and good service.
Saxo 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 responding 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 | 2.9 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 the brand of TradeStation International, which is based in the UK and regulated by the top-tier FCA. TradeStation International is the subsidiary of TradeStation, and an introducing broker of Interactive Brokers (IB).
Therefore, TradeStation Global is a combined product of TradeStation and IB. You can reach IB's markets almost at IB's fees. You can trade on both IB's and TradeStation's desktop platform. The customer service is by TradeStation.
Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on 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 trading fees | • Not user-friendly deposit and withdrawal |
| • Wide range of products | • Complicated account opening |
| • Fast and relevant customer service | • Limited education materials |
#3 TradeStation Global
Fees
TradeStation Global has low trading fees, especially for stock and ETF. It's also great that there is no inactivity fee and the first withdrawal in each month is free of charge. On the other hand, mutual fund fees are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Low stock and ETF fees |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $15.0 | - |
| UK stock | $7.2 | $9.6 | $2.4 | $9.6 | - |
| EURUSD benchmark fee | $17.9 | $15.7 | $17.9 | $16.8 | $14.8 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#3 TradeStation Global
Account opening
TradeStation Global's account opening is fully digital and fast. On the negative side, the process is complicated and there is a high, $1,000 minimum required deposit.
| Pros | Cons |
|---|---|
| • Fast | • Minimum deposit is higher than $500 |
| • Fully digital | • Not user-friendly |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1-3 days | 1 day |
#3 TradeStation Global
Deposit and withdrawal
TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawbacks are that you can only use bank transfer and the process is not user-friendly.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Several account base currencies | • Not user-friendly |
| • No charge for the first withdrawal every month. |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | 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 | IG | Pepperstone | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | No |
| ETF | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | Yes | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#3 TradeStation Global
Web trading platform
You can use Interactive Brokers' web trading platforms. Client Portal is simple and easy to use even for beginners. On the negative side, it is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | • Difficult to set the alerts |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars | 4.3 stars | 5.0 stars | 2.8 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 3.5 stars | 5.0 stars | 3.8 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | - | 3.3 stars |
#3 TradeStation Global
Verdict
TradeStation Global has low trading fees, has access to a lot of products and markets, and has great customer support. The TradeStation Global desktop platform has great charting tools, and plenty of indicators highly customizable watchlists (Radar Screen), and visualized order placing (Matrix).
On the other hand, the deposit and withdrawal process is not user-friendly and you can use only a bank transfer. The account opening is complicated and for full account verification, a minimum deposit of $1,000 is needed. Lastly, the education section could be extended with more materials, as of now, it is limited.
If you prefer low fees with IB's product range, feel free to try TradeStation Global.
| TradeStation Global | |
|---|---|
| Summary | TradeStation Global is an introducing broker of Interactive Brokers. It practically means that assets and cash are held with Interactive Brokers, but services, like the fees or customer support are provided by TradeStation Global. TradeStation Global is regulated by the top-tier UK FCA. |
| Fees score | 4.1 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
IG
IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the Financial Conduct Authority (FCA) and the Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.
IG is considered safe because it is listed on a stock exchange, discloses its financials 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. 76% 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. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.
Recommended for traders of any experience level looking for an easy-to-use trading platform
| Pros | Cons |
|---|---|
| • First-class web trading platform | • High stock CFD fees |
| • Superb educational tools | • Limited product portfolio |
| • Great deposit and withdrawal options | • Poor phone support |
#4 IG
Fees
IG has low fees for stock index CFD, while forex fees are average to low. There is no fee for withdrawal and the inactivity fee is charged only after 2 years. On the negative side, the stock CFD fees are high.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • Inactivity fee |
| • Low index CFD trading fees | • High stock CFD fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $15.0 | - |
| UK stock | $7.2 | $9.6 | $2.4 | $9.6 | - |
| EURUSD benchmark fee | $17.9 | $15.7 | $17.9 | $16.8 | $14.8 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#4 IG
Account opening
IG's account opening is seamless and fully digital. There is no minimum deposit for bank transfers and a low, $300 minimum deposit for credit/debit cards and PayPal. On the other hand, account verification takes around 3 business days, which is slower than at some other brokers.
| Pros | Cons |
|---|---|
| • Fully digital | • Slower account opening |
| • Low minimum deposit | |
| • No minimum deposit for bank transfer |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1-3 days | 1 day |
#4 IG
Deposit and withdrawal
IG offers free and fast deposit and withdrawal. There are various options for funding your account, including traditional methods such as bank wire and credit card funding, as well as PayPal.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#4 IG
Markets and products
At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. Residents in the UK and some other countries can also trade with real shares. Other popular assets, like mutual funds or bonds, are not available.
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | No |
| ETF | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | Yes | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#4 IG
Web trading platform
IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
| Pros | Cons |
|---|---|
| • User-friendly | None |
| • Clear fee report | |
| • Two-step (safer) login |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars | 4.3 stars | 5.0 stars | 2.8 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 3.5 stars | 5.0 stars | 3.8 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | - | 3.3 stars |
#4 IG
Verdict
IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.
IG has one of the best web trading platforms Brokerchooser tested. The deposit and withdrawal conditions are great. You can also educate yourself with great educational materials.
On the other hand, there are some drawbacks. The stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs, and options. The phone customer service has also low quality.
Feel free to test IG's first-class trading platform since there is no minimum funding amount for bank transfers and you can easily open a demo account too.
| IG | |
|---|---|
| Summary | IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA. |
| Fees score | 3.4 stars |
| Recommended for | Traders of any experience level looking for an easy-to-use trading platform |
#5 Best international online brokers for citizens in Pakistan
Pepperstone
Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients.
Pepperstone is considered safe since it's regulated by two top-tier financial authorities, the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% 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 traders looking for low fees and good customer service
| Pros | Cons |
|---|---|
| • Low forex and equity index CFD fees | • Only forex and CFDs |
| • Great customer service | • Basic news flow, |
| • Seamless and free deposit and withdrawal | • No investor protection for non-EU clients |
#5 Pepperstone
Fees
Pepperstone has low forex and equity index fees. Non-trading fees are low as well, as no inactivity or account fee is charged. On the negative side, CFD financing rates, i.e. fees for holding CFD positions overnight, are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High financing rate for CFDs |
| • Low non-trading fees | |
| • Low forex fees |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | $1.5 | $15.0 | - |
| UK stock | $7.2 | $9.6 | $2.4 | $9.6 | - |
| EURUSD benchmark fee | $17.9 | $15.7 | $17.9 | $16.8 | $14.8 |
All spreads, commissions and financing rates are for opening a position, holding for a week, and closing.
#5 Pepperstone
Account opening
Pepperstone's account opening is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $10,000 | $1,000 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1 day | 1-3 days | 1 day |
#5 Pepperstone
Deposit and withdrawal
Pepperstone provides plenty of options for deposit and withdrawal, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • High bank withdrawal fee for clients outside the EU/Australia |
| • No deposit fee | |
| • Several account base currencies |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | Yes | Yes |
| Electronic wallets | No | No | No | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
#5 Pepperstone
Markets and products
At Pepperstone you can only trade with forex and other CFDs (commodities, stock indices, share CFDs, cryptos)
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | No |
| ETF | Yes | Yes | Yes | Yes | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | Yes | Yes | Yes | No | No |
| Bond | Yes | Yes | Yes | No | No |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | Yes | Yes | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
#5 Pepperstone
Web trading platform
Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation |
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 5.0 stars | 4.3 stars | 5.0 stars | 2.8 stars |
| Mobile platform score | 3.5 stars | 5.0 stars | 3.5 stars | 5.0 stars | 3.8 stars |
| Desktop platform score | 3.0 stars | 5.0 stars | 3.0 stars | - | 3.3 stars |
#5 Pepperstone
Verdict
Pepperstone is a great forex and CFD broker, regulated by the top-tier FCA and ASIC.
Forex and equity index fees are low. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.
On the other hand, Pepperstone provides only forex, CFDs and cryptos to trade with. Their news flow is rather basic. Lastly, there is no investor protection for non-EU clients.
Feel free to try Pepperstone since there is no inactivity fee or minimum deposit for standard accounts.
| Pepperstone | |
|---|---|
| Summary | Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia. |
| Fees score | 4.4 stars |
| Recommended for | Forex traders looking for low fees and good customer service |
Best international online brokers for citizens in Pakistan
What makes a good online broker
Now you know the top 5. You are probably curious about 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 in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
You can be sure none of them is a scam. They are regulated by top-tier authorities. Some of them are also listed on an exchange, while some have a banking background.
However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.
If everything goes very bad 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 international online brokers for a citizen in Pakistan?
At BrokerChooser, we test online brokers along more than 100 criteria, using real accounts and real money. We don’t want to overwhelm you, so for now we’ll just list the five most important criteria.
The five most important criteria for best international online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Account opening | Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require. |
| 3. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 4. Products and markets | You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account. |
| 5. Trading platform | A user-friendly and well-equipped trading platform can significantly increase your trading comfort. |
Best international online brokers for citizens in Pakistan
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2020 for citizens in Pakistan:
| Interactive Brokers | Saxo Bank | TradeStation Global | IG | Pepperstone | |
|---|---|---|---|---|---|
| Overall score | 4.9 | 4.8 | 4.6 | 4.6 | 4.5 |
| Best in | Best online broker | Best web trading platform | Best broker for buy and hold | ||
| Fees score | 4.3 stars | 2.9 stars | 4.1 stars | 3.4 stars | 4.4 stars |
| Account opening score | 3.4 stars | 2.6 stars | 2.8 stars | 4.4 stars | 5.0 stars |
| Deposit and withdrawal score | 2.5 stars | 4.8 stars | 2.5 stars | 4.5 stars | 4.8 stars |
| Markets and products score | 5.0 stars | 5.0 stars | 5.0 stars | 3.5 stars | 1.7 stars |
| Web platform score | 4.3 stars | 5.0 stars | 4.3 stars | 5.0 stars | 2.8 stars |
| Visit broker | Visit broker | Visit broker |
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76% of retail CFD accounts lose money |
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78.6% of retail CFD accounts lose money |
Interactive Brokers is our winner, the best international online broker in Pakistan of 2020. Wide range of products. Many great research tools. Regulated by several authorities.
All of these brokers are considered 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 comment section.
Still unsure? Use the broker finder and find the best international broker for you, or learn more about investing your money.
