How to Open a PSX Trading Account with AKD, JS Global, Arif Habib, BMA and Foundation Securities

AKD Securities, JS Global Capital, Arif Habib Limited, BMA Capital Management and Foundation Securities are five of the best-known full-service brokerages on the Pakistan Stock Exchange (PSX). They all follow the same regulated account-opening framework, but they differ in how you apply, which apps you use and what is available to overseas Pakistanis. This guide explains the shared process once, then covers what is specific to each firm.

In this guide: how every PSX account is opened · side-by-side summary · AKD Securities · JS Global Capital · Arif Habib Limited · BMA Capital Management · Foundation Securities · documents · how to choose · FAQ

How this page was prepared. The PSX process below was checked against PSX’s own account-opening guidance and SBP’s Roshan Equity Investment page on 26 October 2026. Broker-specific details come from each firm’s public website as recorded in our earlier individual guides (September 2026) and have not been re-checked line by line since. Fees, minimums and routes change, so confirm with the broker before you apply. This is general information, not investment advice.

How every PSX account is opened

Whichever broker you pick, you end up with the same three things, according to PSX’s investor guidance:

1. A brokerage account in your own name with a PSX trading-rights-certificate (TREC) holder that PSX recognises and SECP licenses.
2. A UIN (Unique Identification Number), issued by NCCPL. Every brokerage account and trade you make is recorded against it.
3. A CDC sub-account (or a CDC investor account) where the shares you buy are held in electronic form.

Most of the five brokers here take applications through PSX’s online account-opening framework, which works like this:

1. Enter your CNIC, NICOP or POC number, an IBAN, an email address and a mobile number on the broker’s request form.
2. NCCPL sends a one-time password (OTP) to confirm your identity.
3. Complete the electronic account-opening form, accept the terms and upload your supporting documents.
4. The broker registers your UIN with NCCPL and opens your trading and CDC sub-accounts.
5. You receive confirmation by SMS or email and fund the account.

PSX advises funding the account by cheque or bank transfer rather than cash, and keeping your Client ID and UIN on record with every trade. PSX publishes the list of brokers that support online opening as a downloadable file, and the version on its site was last updated in October 2024, so ask your broker whether the online route is currently active.

The five brokers at a glance

Broker	How you can apply	Overseas Pakistanis	Worth knowing	Official site
AKD Securities	Online (NCCPL OTP flow) or a downloadable equities form with in-person verification	Non-residents on the form route need notarised or consul-attested documents	Deposits go to the client accounts listed on AKD’s funds-transfer page	akdsl.com
JS Global Capital	Online, or through a JS Bank branch	JS Roshan Equity Investment through the JS Bank app; the RDA can be started through a WhatsApp bot	Closely linked to JS Bank	jsglobalonline.com
Arif Habib Limited	Digital mode (fully remote, OTP) or biometric mode (office visit)	Choose Arif Habib as your broker during Roshan Equity Investment setup	TradeCast on desktop, AHL Tick and AHL NxG on mobile	arifhabibltd.com
BMA Capital	Online through the website or the BMA Trade app	Confirm that your RDA bank lists BMA	App offers virtual trading and fingerprint login	bmacapital.com
Foundation Securities	Digital application, Shared KYC through your bank, or a downloadable form	Roshan “NRV” route through an RDA bank	Account tiers from PKR 25,000; a Sahulat account from as little as PKR 5,000 in some cases	fs.com.pk

AKD Securities

AKD is one of the long-established brokers on PSX. It offers two ways to open an account.

Online route. Follow the shared process above from the online account-opening section of AKD’s website. After the OTP and e-form, AKD registers your UIN and NCCPL confirms activation by SMS or email. You then acknowledge receipt to NCCPL to complete the process.

Downloadable-form route. Some applicants, such as joint account holders, prefer paper:

1. Download the Account Opening Form for Equities from AKD’s website.
2. Complete it by hand, including the Customer Relationship Form and the Specimen Signature Card.
3. Attach a copy of your valid ID, an attested Zakat Declaration (or an affidavit if you are non-Muslim) and CNIC copies of witnesses.
4. Attend in person for identity verification. Non-residents and foreigners can instead have documents notarised, or attested by the Pakistani Consul General with jurisdiction.
5. Submit the form at an AKD office or send a scan to the email address AKD gives for account opening.
6. Fund the account by cheque, pay order or bank transfer to the client account AKD lists on its funds-transfer procedure page, then send the deposit slip to AKD.

Good to know: policies on matters such as share transfers can differ between brokers, so read AKD’s current terms and fee schedule before you commit.

JS Global Capital

JS Global is part of the JS Group and majority-owned by JS Bank, which shapes its onboarding.

Domestic investors. Use the shared online process from JS Global’s website, or start through a JS Bank branch, since the two firms work closely on account origination. JS Global registers your UIN and opens your trading and CDC sub-accounts once NCCPL verification is complete.

Overseas Pakistanis. JS Bank offers a route into JS Global through its Roshan Digital Account:

1. Open a JS Roshan Digital Account on the JS Bank website or mobile app. JS Bank also lets you begin the application by messaging “Hello” to its WhatsApp bot (the number is on JS Bank’s website).
2. In the JS Mobile App, go to RDA Services and select JS Roshan Equity Investment.
3. Follow the guided steps to link your RDA to a JS Global brokerage and CDC sub-account.
4. Fund the account through an inward remittance and start investing in PSX-listed shares.

See our Roshan Digital Account guide for the bank side of this process.

Arif Habib Limited

Arif Habib Limited (AHL) is a securities brokerage, investment banking and research firm whose brokerage business dates back to 1970. Its account-opening portal is forms.ahletrade.com/forms, and it also offers an application through Google Play. You choose between two modes:

• Digital mode: fully remote. NCCPL sends a six-digit OTP to your registered mobile number, or to your email if you hold a NICOP.
• Biometric mode: you visit an AHL office with your original CNIC for biometric verification and physical signatures.

After choosing a mode, verify the OTP, complete the form and submit it.

Starting to trade. AHL provides TradeCast for desktop and AHL Tick / AHL NxG for Android and iPhone. Log in with the User ID and password AHL emails you, create a 4-digit PIN under Settings, open the trade screen, choose Buy or Sell, set the order type, volume and price, and confirm with your PIN.

Overseas Pakistanis. When you set up Roshan Equity Investment through your RDA bank, select Arif Habib as your brokerage firm.

BMA Capital Management

BMA Capital is a Karachi-based firm active in capital markets, corporate finance, asset management and brokerage. Its retail brokerage runs under the BMA Trade brand.

Opening an account. Start on BMA’s website or in the BMA Trade app and follow the shared online process: CNIC/NICOP/POC number, IBAN, email and mobile, the NCCPL OTP, the electronic form and documents, then UIN registration and confirmation.

The app. BMA Trade offers fingerprint login, Market by Order and Market by Price views of the order book, a virtual trading mode for practising without real money, and chat and WhatsApp support. If you are new to trading, the practice mode is a low-risk way to learn order placement before you fund the account.

Documents: valid CNIC/NICOP/POC/passport, an IBAN from a recognised commercial bank, proof of income and signature proof.

Foundation Securities

Foundation Securities was set up in 2005 as a partnership between industry professionals and Fauji Foundation, and trades through its FSEDGE platform on mobile, web and desktop. It offers more ways to apply than most brokers.

1. Digital account. On fs.com.pk, choose the Digital Account option and complete the online application, which the firm says takes a few minutes. Fund the account once it is approved.

2. Shared KYC through your bank. Foundation is one of the PSX brokers with a Shared KYC link:

1. Log in to your internet banking at a bank that has a Shared KYC link with CDC.
2. Give permission for your KYC details and documents to be shared with CDC, TREC holders and NCCPL.
3. Select Foundation Securities from the list of connected TREC holders.
4. Your bank sends your profile and documents electronically, and you receive an email alert.
5. Respond to any follow-up request from Foundation, such as acknowledging its fee structure.

3. Roshan route for overseas Pakistanis. Open an RDA with an SBP-designated bank, choose Foundation Securities as your broker for Roshan Equity Investment, and trade through its online terminal linked to your CDC investor account.

Account tiers.

Tier	What it is	Opening amount
Edge Value	Self-directed trading, no advice	From PKR 25,000
Edge Prime	Self-directed trading with the option to request advice	PKR 300,000
Sharia Edge	Shariah-compliant option with restrictions to match Islamic finance principles	Check with Foundation
Edge Sahulat	Simplified account for smaller investors	As low as PKR 5,000 in some cases

Minimums change, so confirm them with Foundation. Its branches are in Karachi (head office), Lahore and Islamabad.

Documents checklist

Requirements vary by broker and applicant type, but you can expect to need:

• Valid CNIC, NICOP or passport (attested copies where the broker asks for them; PSX lists attested NIC copies for individuals)
• Proof of income: a salary slip and bank statement for salaried applicants, or business documents for business owners
• An IBAN from a recognised bank in your own name
• A mobile number and email address registered in your name for the OTP
• Signature proof, and proof of address if it differs from your CNIC
• A Zakat declaration, or an affidavit if you are non-Muslim
• For overseas Pakistanis, proof of overseas residency through your RDA bank

How to choose between them

There is no single best broker. Match the route to your situation, then compare commissions and charges in writing.

If you want to…	Look at
Open fully remotely without visiting an office	Arif Habib (digital mode), BMA (app), Foundation (digital or Shared KYC)
Use a paper form and a branch or notarised route	AKD (downloadable form)
Practise before trading with real money	BMA Trade’s virtual trading
Start with a smaller amount	Foundation’s Edge Value and Sahulat accounts
Invest from abroad through a Roshan Digital Account	JS Global (JS Bank route), Arif Habib, Foundation, or any broker your RDA bank supports
Bank and broker under one group	JS Global with JS Bank

Before you open an account, ask each broker for its commission schedule, CDC and other charges, any minimum balance or transfer policies, and the platform you will actually use. For a deeper side-by-side view, read our comparison of AKD, JS Global, Arif Habib and BMA.

Frequently asked questions

Do I need a CDC account to buy shares on PSX? Your shares are held electronically in a CDC sub-account, which the broker normally opens for you. PSX also describes a CDC investor account, which it presents as more secure because shares move only on your instruction.

Can overseas Pakistanis open a PSX account? Yes. SBP’s Roshan Equity Investment lets a non-resident Pakistani with a Roshan Digital Account choose a broker, accept the terms so the bank can share RDA details with the broker, and fund the brokerage account. It creates a trading account, a UIN and a CDC custody account. SBP states that dividends and disinvestment proceeds can be sent abroad without prior approval from the RDA bank or SBP.

How can I check that a broker is legitimate? PSX advises choosing an active TREC holder that it recognises and SECP licenses. Check the broker’s name on PSX’s list of TREC holders before sending money.

How long does opening take? It depends on the broker and how complete your documents are. Brokers that publish a timeline usually quote a few days for online applications, and paper routes take longer because of posting and in-person verification.

Can I open accounts with more than one broker? PSX describes recording all your brokerage accounts under a single UIN, so one investor can hold several accounts. Ask each broker about its terms before you do.

Related guides

• Brokers for digital-first and regional investors: KTrade, Next Capital, MRA, Standard Capital and MMAKK
• How to open a Roshan Digital Account with HBL, MCB or Meezan
• Pakistan Stock Exchange for beginners
• The KSE-100 index explained
• How the IPO process works on PSX
• Dividend investing on PSX
• Start Here: a guide to PakGains

Sources: PSX: Open an account and invest, SBP: Roshan Digital Accounts, SBP: Roshan Equity Investment, PSX: list of TREC holders. Broker websites: AKD Securities, JS Global, Arif Habib, BMA Capital, Foundation Securities.