ACCOUNT OPENING PROCESS IN

PAKISTAN STOCK EXCHANGE

Complete Guide
The account opening process in PSX is an
easy process a customer can do by
themselves or by broker’s representative.
 The steps for opening an account are:
 The customer has to go to the
official website of the securities
broker with which they want to
open the account. Firstly, they
have to register themselves on
the website by entering their
email and password.
 After signing up they will be
directed to the account opening
form.
 Now open ‘Form for new customer’ option. In this
form the customer has to provide their basic
information which includes:
o Name o Registered Mobile Number
o E-mail ID o IBAN
o CNIC Number o Residential status
 After submitting the above information open the
‘Account holder details’ option.
 In this step the customer has to provide all the
detailed information along with documents
prescribed by the form.
o CNIC Front/Back
o Proof of address
o Proof of source of income
o Signature proof
DOCUMENTS
 Now open ‘Terms and conditions’ option. The customer
will have to provide digital/online approval and
acceptance of the terms & conditions for the account.
 This information will be forwarded to National
Clearing Company of Pakistan Limited (NCCPL),
which will start verification of the information.
This means CNIC, IBAN and mobile verification.
 Upon successful verification, NCCPL will send a
One Time Password (OTP) on the customer’s
registered mobile number. If the customer is non
resident Pakistani then they will get the OTP on
their E-mail.
 To verify the OTP the customer has to send their
OTP to the broker/representative or they can also
verify their OTP by the link that will be provided to
them by the broker.
 The broker will then start the process to open
an account after having done their
verification.
 Manually Signature or physical documents
will not be required.
TIME REQUIRED TO OPEN AN ACCOUNT

 If the client submits all the right

information to the broker then the
account (CDC sub account) will be open in
3 to 5 working days.
 The client will get the UIN(unique identity
number) in the same time.
UKN NUMBER

 Unique Know Your Customer Number (UKN) will be

issued by NCCPL after account opening process.
 The customer can get this number in 17 to 20 working
days.
 UKN is required when the customer wants to change
any of their information like E-mail, Address, IBAN etc.
 It is also used when the customer already has an
account in PSX and they want to open more accounts.
ACCOUNT OPENING CHARGES
There are several charges applicable on account opening.
All the brokerage firms have different charges .The basic
ones are listed as follows:
 Brokerage Fees
(Varies amongst brokerage firms)
 CDC sub account maintenance charges
(Rs 252 annually)
 NCCPL Fees
(Rs 452 annually)
ELIGIBILITY CRITERIA

The minors (below 18) are not eligible to

open the account because only CNIC holders
are allowed to open the account.
ACCOUNT OPENING PROCESS MANUALLY

 In PSX, the customer can also open their account

manually by submitting the documents on hand
and by filling the form physically. The process will
be same as online account opening.
 In this fast moving digital world PSX is trying to
setup online account opening system and to finish
the account opening process manually.
Every brokerage house has different requirements. The basic requirements are as follows:
THANK YOU!