Rules & regulation
What is PMEX and what can you trade on it?
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Short answer
PMEX, the Pakistan Mercantile Exchange, is Pakistan's only futures exchange regulated by the SECP. Through a registered PMEX broker you can trade futures on gold (including tola-sized contracts), silver, crude oil, natural gas, selected currency pairs, US equity indices and some agricultural commodities. It is the legal, regulated route for Pakistanis who want to trade these markets with margin.
How PMEX differs from an offshore forex broker
| PMEX | Offshore CFD broker | |
|---|---|---|
| Regulator | SECP | None in Pakistan |
| Your money | Held through PMEX's clearing system in your name | Held by the foreign broker |
| Funding | Rupees from your own Pakistani bank account | Often via cards, wallets or P2P — can breach SBP rules |
| Disputes | Complaint to the broker, PMEX and SECP | Foreign jurisdiction, if any |
| Taxes | Withheld and reported in Pakistan | Your own responsibility |
What you can trade
The product list changes as contracts are added or delisted; check PMEX's current contract specifications before trading.
- Gold: tola, ten-tola and smaller gold futures priced in rupees, plus ounce-based international gold contracts.
- Energy and metals: crude oil, natural gas, silver, platinum and copper.
- Financials: selected currency pairs and US equity index futures such as the S&P 500, Dow Jones and Nasdaq 100.
- Agricultural commodities such as cotton, wheat, rice and red chilli, when listed.
Margin: how much you need
Futures need only a deposit, called initial margin, rather than the full contract value. For PMEX's physical gold contracts the published specification sets a minimum initial margin of 25% for buyers and a maintenance margin of 15%. If losses push your account below the maintenance level, you receive a margin call and must add money or your position is closed. Margin magnifies both gains and losses.
How to open a PMEX account
- Choose a PMEX-registered broker from the list on the PMEX website.
- Complete the account form and KYC with your CNIC, bank details and source of income.
- The broker registers you with PMEX's clearing system and gives you access to a trading terminal or app.
- Deposit margin from your own bank account to the broker's client account.
- Read each contract's specification — lot size, tick value, expiry and trading hours — before placing your first order.
Roman Urdu mein jawab
PMEX kya hai?
PMEX (Pakistan Mercantile Exchange) Pakistan ka wahid SECP-regulated futures exchange hai. Registered broker ke zariye aap gold (tola contracts), silver, crude oil, currencies aur US index futures trade kar sakte hain. Rupees mein, apne bank account se — yeh offshore brokers ke muqable mein legal rasta hai.
Frequently asked questions
Is PMEX legal and safe?
PMEX is licensed and regulated by the SECP, which makes it the legal route for futures trading in Pakistan. Trading on it is still risky: leveraged futures can lose more than you expect.
Can I trade forex on PMEX?
PMEX lists selected currency-pair futures. The range is smaller than an offshore broker's, but trades are regulated in Pakistan and funded in rupees.
Is PMEX gold trading halal?
Cash-settled gold futures do not deliver gold on the spot, which most scholars consider necessary for gold transactions. Deliverable contracts and spot purchases raise fewer objections. Ask a scholar about the specific contract.
What are PMEX trading hours?
Many international contracts trade nearly around the clock on weekdays, following global markets. Exact hours differ by contract and are listed in each specification.
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