The Most Complained Brokers in Pakistan in February 2024

In Pakistan, several brokers faced complaints in February 2024, raising concerns about their practices and reliability. This article focuses on the most complained brokers during that month, as reported by WikiFX.

Oqtima

WikiFX Rating: 6.64/10

Number of Complaints in February: 4

Oqtima, a trading platform based in the United Kingdom, is a regulated broker under the oversight of two reputable regulatory bodies. The Cyprus Securities and Exchange Commission (CySEC) in the European Union and the Seychelles Financial Services Authority (FSA). Oqtima caters to various investment goals and risk profiles through its diverse range of market instruments, including metals, and crypto.

We have received four exposures against this broker recently.

Access Bank

WikiFX Rating: 8.12/10

Number of Complaints in February: 1

Access Bank UK is a wholly-owned subsidiary of Access Bank, a global private bank that commenced operations in 2013 and specializes in providing solutions in trade finance, commercial banking, and asset management. Access Bank also offers a range of lending products, including personal loans, car loans, and mortgages.

HERO MARKETS LTD

WikiFX Rating: 1.09/10

Number of Complaints in February: 5

HERO MARKETS LTD, a brokerage firm founded in 2023, operates out of China. While it offers a diverse range of tradable assets, including Forex, Stock Market Indices, Shares, and Noble Metals, it's essential to note that the company is not regulated as a broker.

OnePro

WikiFX Rating: 5.74/10

Number of Complaints in February: 33

OnePro global, a relatively new broker with a presence spanning just a few years, provides a wide array of popular trading instruments including forex, CFDs, metals, indices, and commodities. Although they have plans to introduce multiple advanced trading platforms such as MT4, MT5, cTrader, and ONEPRO APP, currently, only MT4 is in use.

Ultima Markets

WikiFX Rating: 7.16/10

Number of Complaints in February: 2

Ultima Markets is a reputable financial institution operating under the regulation of the Cyprus Securities and Exchange Commission (CySEC) and the Australia Securities & Investment Commission (ASIC). The brokerage caters to traders' diverse needs by providing a range of trading instruments, including forex, metals, commodities, indices, shares CFDs, and cryptocurrencies.

Conclusion

Selecting a reputable broker is a critical decision for investors. The brokers mentioned here have garnered varying levels of trust and scrutiny. Individuals need to conduct thorough due diligence and research before choosing a broker to ensure their investments and interests are protected. Regulatory compliance, reputation, and user feedback should all be considered when making this crucial decision. Although some brokers here have relatively high scores, it doesnt mean you can trust them without care.

WikiFX Rating System is updated in real-time, ensuring investors have access to the latest, most accurate, and comprehensive broker information.

The WikiFX score of a broker can be increased or decreased if the broker is constantly running the business in a good or bad direction. If you want to know more information about the reliability of certain brokers, you can open our website or you can download the WikiFX APP to find the most trusted broker for yourself.