You Asked: How to trade at IQ Option Pakistan?
The broker IQ Option was founded in 2013 and has grown into one of the world’s biggest online brokers. It offers traders over 300 trading options, including Forex, binary options, CFDs and cryptocurrency and has clients located all over the world.
IQ Option is well-suited to traders resident in Pakistan as it fulfils all of the requirements defined by the SECP (Securities and Exchange Commission of Pakistan) meaning you can trade legitimately.
At present, the SECP regulations require you only to use brokers which licensed under specific authorities:
IQ Option holds a full CySEC licence and exhibits full compliance under MiFID regulation, so you have no problem in that respect.
Financial transactions in Pakistan must comply with Shariah Law, so the additional SECP requirement for residents is that they must trade only with a broker able to provide an Islamic (No Riba) account, which is available from IQ Options, meaning that your trading will not attract interest and is therefore considered Halal (permitted).
If you choose to open a live trading account, you are only permitted to trade in binary options, as all other forms of trading are considered Haram (forbidden) under Shariah Law.
However, if you opt for a demo account, the currency is ‘virtual’ so you can explore the other forms of trading available from IQ Options without committing any punishable offence. For more in-depth information about IQ Option read our IQ Option review now!
Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.
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