Brokers  /  First National

First National

Moderate risk
Pakistan · 5-10 years · since 2019-08-22 · First National Equities (Pvt.) Ltd.
This is a , not a leveraged forex/CFD broker — listed for reference. If you’re looking for a forex broker, see our forex broker directory.
Unregulated
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Independent ratingshow third parties score this broker
WikiFX1.58/10
Trustpilot/5
Forex Peace Army/5
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No sign that First National actively operates in your country (United States). If you were solicited from here, be extra cautious — it may be an unregulated approach or a clone.
45
Moderate risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age2215%
Clone / impersonation012%
Withdrawal & exposure complaints012%
Offshore registration458%
Transparency (site/info/social)5010%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameFirst National Equities (Pvt.) Ltd.
Headquarters Pakistan
Founded2019-08-22
Years operating5-10 years
Employees0
Official websiteaof.com.pk
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating
Trading cost rating
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods
Withdrawal methods
Instruments
Registered address
FNE House, 179-B, Abu Bakar Block New Garden Town, Lahore

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Review analysis AI

First National is an unregistered broker based in Pakistan with no regulatory oversight and limited public information. Its guarded risk score (45/100) reflects a high degree of uncertainty, making it unsuitable for most traders without additional verification.

Best for
  • Users willing to accept high uncertainty
  • Traders who can independently verify broker legitimacy
Not for
  • Risk-averse traders
  • Those requiring regulatory protection
  • Beginners seeking a regulated broker
Period:

Real user reviews

Where First National operates

Active across 1 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇵🇰 Pakistan

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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About First National

Company Profile

First National is a financial services entity registered in Pakistan, operating under the official domain aof.com.pk. According to public records, the firm was established on August 22, 2019, and is headquartered at FNE House, 179-B, Abu Bakar Block New Garden Town, Lahore.

The company maintains a presence on several social media platforms, including Facebook, Instagram, LinkedIn, Twitter/X, and YouTube. However, detailed information about its services, product offerings, or operational history is not readily available from independent sources.

Regulatory Status

FXCanary's review of regulatory records indicates that First National currently holds no licences or authorisations from any known financial regulator. The absence of regulatory oversight is a significant factor for traders to consider, as it means the broker is not subject to standard investor protection schemes, dispute resolution mechanisms, or mandatory reporting requirements.

Traders are advised to exercise caution when dealing with unregulated entities. Without regulatory oversight, there is no guarantee that client funds are segregated or that the firm adheres to international financial standards.

Risk Assessment

FXCanary has assigned First National a Scam Risk Score of 45 out of 100, classified as 'Guarded'. This score reflects the high level of uncertainty surrounding the broker's operations, combined with its lack of regulatory credentials.

The guarded rating indicates that while there is no direct evidence of fraudulent activity, the absence of verified information and regulation creates a risk profile that may not be suitable for most retail traders. Prospective clients should conduct thorough due diligence before engaging with this entity.

Overview compiled by FXCanary from regulatory records and public data. full First National review