PSX – How to Open Account in PSX
What is Stock Market or Exchange (PSX)?
Pakistan Stock Market (PSX) is the Platform or place where people can exchange the shares in Pakistani Companies. Companies and businesses issues their shares and people buy and sell in stock Market. it is a great way for passive income. Anyone can purchase shares and grow with company and get dividends. In this post we will see how to open an account in Pakistan Stock Exchange.
Stock Market Account – Documents Required
Following are the documents required to open an account in Pakistan Stock Market (PSX)
- Copy of CNIC
- Copy of Salary Slip / Proof of Income
- Utility Bill Copy
- Bank Statement
- CNIC Copy of Blood Relation
- The cheque for the Deposit
By following the simple steps given below, you can easily invest your funds at Pakistan Stock Exchange.
- Choose a brokerage firm for Investment Purposes
- Open a Brokerage Account.
- Also, open a CDC (Central Depository Company) Sub Account and a CDC Investor Account.
- Deposit funds in your account through cheque instead of cash amount.
- Start investing in the stock market.
Now we will discuss above points in Detail
Find a Stock Broker
Stock Broker is a company which sales and purchase securities on behalf of you and shif it to CDC on your name. you should have a good broker as he will be the link in stock market and you. below are some famous stock brokers
- AKD Securities Limited
- Alpha Capital (Private) Limited
- BMA Capital Management Limited
- Arif Habib Limited
- Zafar Securities (Private) Limited
- Bawany Securities (Private) Limited
- Mohammad Munir Mohammad Ahmed Khanani Securities Limited
- Darson Securities Limited
- Standard Capital Securities (Private) Limited
- Alfalah CLSA Securities (Private) Limited
- Adam Securities Limited
- Lakhani Securities (Private) Limited
There are many others, you can find full list here.
Open your Brokerage Account in PSX
Once you choose your Broker, the second step is to fill out a Account Opening form for your brokerage account. After completing the form, all the documents mentioned above; will also be submitted.
After this procedure, you will open a CDC (Central Depository Company) Sub Account. It is an account through which you can invest in the stock market or a part of the stock exchange ecosystem. In another way, you can save your shares in this account for transaction purposes. It allows for the exchange of shares when a trade is accomplished in the stock market to take place through it. this Account will be open by your broker in name of you and broker also submit your KYC application to NCCPL. After Approval from CDC and NCCPL, your account is open.
You will recieve the application form at your residential address as confirmation. and then you can contact your broker, he will give you your username and Password for trading of Shares. after this information you can sale and purchase from mobile, PC and website.
Deposit Funds to your Account
To start investing in the stock market or to purchase shares, you need to deposit initial funds. In your first term, deposit the amount through a cheque instead of a cash deposit.
There is tax on income from shares that is called capital gain tax (CGT). it is 12.5% for filers and 25% on non-filer.
Start Trading in PSX
Once your account set up and amount deposited, you can invest money in stock market. For more information on investing or fincial freedom, you can visit our page. Overseas Pakistani can also open the account in Stock Exchange through RDA.
A sample video is avalable below for your more understanding
12 thoughts on “PSX – How to Open Account in PSX”
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