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Forex Guide · Forex Basics

Forex trading in Pakistan and India: the rules, the scams and the hours

Before you open any trading account, know the rules where you live. Here is what the regulators in Pakistan and India have said, in plain words, with links to the official notices, plus the scams to avoid and the hours that matter.

Qazi Forex Tips
By the Qazi Forex Tips team, led by Dr. Qazi Abdul Basit, Ph.D
Updated 23 October 2026
Dr. Qazi Abdul Basit
Dr. Qazi's takeIn his own words, from his lectures and teaching

Learn and practise on a demo account first. When you go live, use only money you can afford to lose and keep the risk on each trade small, for example 1% of the account.

From our FAQ

Pakistan: what the regulators say

  • State Bank of Pakistan, 18 May 2022 (EPD Circular Letter No. 08 of 2022): banks must stop customer payments to offshore forex, margin and CFD trading websites and apps, through any payment channel, under the Foreign Exchange Regulation Act 1947.
  • SECP, 9 April 2025 (press release): warned the public about online trading platforms offering forex, commodities and other speculative products without regulatory approval in Pakistan.

In simple words: sending money from Pakistan to an offshore forex or CFD broker is not a permitted payment, and those platforms are not licensed in Pakistan. If something goes wrong, Pakistani regulators cannot help you get your money back.

The regulated route for trading Gold and other futures in Pakistan is the Pakistan Mercantile Exchange (PMEX), which is regulated by the SECP. Check PMEX's current contract list and use a PMEX-registered broker.

What the regulators allow, the scam red flags and the best hours, at a glance.
What the regulators allow, the scam red flags and the best hours, at a glance.

India: what the regulators say

  • RBI, 7 September 2022 (press release): residents may deal in forex only with authorised persons, for permitted purposes, on RBI-authorised electronic platforms or recognised exchanges (NSE, BSE, MSE). RBI keeps an Alert List of unauthorised forex platforms and says the list is not exhaustive.
  • RBI LRS rules (FAQ): the Liberalised Remittance Scheme does not allow remittances for trading foreign exchange abroad, or for margins and margin calls to overseas exchanges or counterparties.

In simple words: in India, currency trading is allowed on recognised exchanges through SEBI-registered brokers, in INR pairs (USD/INR, EUR/INR, GBP/INR, JPY/INR) and some cross pairs (EUR/USD, GBP/USD, USD/JPY) as exchange-traded derivatives. Online margin trading with an overseas forex broker is not permitted and can lead to action under FEMA.

What this means for learning

Learning price action, risk management and backtesting is legal everywhere, and it is what we teach. You can practise on a demo account or in a replay simulator without sending money anywhere. When you trade with real money, use only the routes your own country allows.

This page is general information, not legal advice. Rules change; check the latest notices from the SBP and SECP (Pakistan) or RBI and SEBI (India), or ask a qualified adviser.

How to spot a forex scam

  • Guaranteed or fixed profit ("5% daily", "no loss"). Real trading has no guarantees.
  • "Give us your money, we trade for you" or account management by strangers.
  • Pressure to deposit more before you can withdraw, or withdrawal "fees" and "taxes".
  • Profit screenshots and Lamborghini lifestyle instead of rules and risk.
  • Fake copies of known names: a WhatsApp or Telegram account using a teacher's or broker's name and photo.
  • Recovery scams: someone promising to get back money you lost, for a fee.

Qazi Forex Tips never asks you to deposit money with us for trading, never manages your account and never promises profit. Use only the WhatsApp number shown on this website.

Market hours in Pakistan and India time

The forex market runs from about 2–3 AM Monday to 2–3 AM Saturday, Pakistan time. India (IST) is 30 minutes ahead of Pakistan (PKT).

  • Tokyo: about 5:00 AM–2:00 PM PKT (5:30 AM–2:30 PM IST).
  • London: about 12:00–9:00 PM PKT in summer, 1:00–10:00 PM in winter.
  • New York: about 5:00 PM–2:00 AM PKT in summer, 6:00 PM–3:00 AM in winter.
  • Best hours for most pairs and Gold: the London–New York overlap, about 5:00–9:00 PM PKT (5:30–9:30 PM IST) in summer and one hour later in winter.

Full timetable with summer and winter changes and news times: forex market timings in Pakistan and India.

Khulasa (Roman Urdu / Hindi)

  • Pakistan: SBP (May 2022) ne banks ko offshore forex/CFD platforms ko payment se rok diya; SECP (Apr 2025) ne in platforms se khabardar kiya.
  • Pakistan mein regulated rasta: PMEX (SECP regulated).
  • India: sirf recognised exchanges (NSE/BSE) par SEBI broker ke zariye; LRS se bahar forex/margin ke liye paisa bhejna mana hai.
  • Guaranteed profit, 'hum aap ke liye trade karein ge' aur recovery wale scam se bachein.
  • Behtareen waqt: London–New York overlap, PKT sham 5–9 (IST 5:30–9:30), sardiyon mein aik ghanta baad.

Questions

Is forex trading legal in Pakistan?

Learning and practising forex is legal. But the State Bank of Pakistan has told banks to stop payments to offshore forex, margin and CFD platforms, and the SECP says such platforms are not licensed in Pakistan. The regulated route for futures such as Gold is PMEX.

Is forex trading legal in India?

Yes, on recognised Indian exchanges through SEBI-registered brokers, in INR pairs and a few permitted cross pairs. Trading with overseas online forex brokers and sending money abroad for it is not permitted under RBI rules.

Can I deposit with an international forex broker from Pakistan?

Under the SBP's 2022 circular, banks may not process payments to offshore forex, margin or CFD trading platforms. Check the current rules before sending money anywhere.

What is the RBI Alert List?

A list published by the Reserve Bank of India of entities that are not authorised to deal in forex or run forex trading platforms. RBI says a name missing from the list does not mean it is authorised.

How can I tell if a forex offer is a scam?

Guaranteed profit, someone offering to trade your money, pressure to deposit more, fees to withdraw and fake accounts using a known name are the main warning signs.

What is the best time to trade forex in Pakistan and India?

The London–New York overlap: about 5:00–9:00 PM Pakistan time (5:30–9:30 PM IST) in summer and one hour later in winter.

Watch the video lessons

Video lesson · 19:38Forex trading for beginners: risk, demo or real account, and your brokerVideo lesson · 12:19Forex trading myths vs realityVideo lesson · 12:35Best time to scalp forex and Gold in Pakistan and India

Education only, not financial advice. Trading forex, Gold and CFDs carries a high risk of loss. Contract sizes, spreads and leverage differ by broker; check your own broker's specifications.