Investing · Money

PSX account opening: brokers, documents and fees

Open a PSX account through an active licensed broker. A Sahulat account needs only your CNIC and a simple form and lets you buy up to Rs 30 lakh per broker.

By Ahtisham Imtiaz · Updated · 5 min read

Sahulat limit
Rs 30 lakh per broker
Sahulat documents
CNIC + simple form
CDC sub-account annual fee
Nil since Jul 2024
Active brokers
209 (7 Oct 2026)
Summarize it for me

AI Summary

You open a PSX account through an active broker licensed by SECP, who also opens your CDC sub-account and gets your NCCPL UIN. The quickest route is a Sahulat account: a simple form and a CNIC copy, with purchases capped at Rs 30 lakh per broker as of April 2026. A normal account uses PSX's Customer Relationship Form. Many brokers open accounts online, and some banks let you start from their portal. Brokers set their own fees, and CDC dropped its annual sub-account fee in July 2024.

You open a PSX account through an active broker licensed by SECP (Securities and Exchange Commission of Pakistan). The broker opens your trading account and a CDC sub-account for your shares, and gets your UIN from NCCPL. The simplest option is a Sahulat account: a short form and a copy of your CNIC, with purchases capped at Rs 30 lakh per broker as of April 2026.

What are the PSX account opening requirements?

Sahulat account Normal account
Who One individual, no joint holder Individuals and companies
Form Simplified KYC and account form PSX’s Customer Relationship Form (CRF) and KYC form
Documents CNIC copy CNIC plus supporting documents the broker asks for
Checks Biometric, IBAN and mobile number verification KYC and due diligence by the broker
Buying limit Rs 30 lakh per broker No Sahulat cap
Markets Ready market only, no margin trading All markets

You can hold a Sahulat account with several brokers, but only one per broker, under reforms SECP approved on 2 April 2026. You can convert it to a normal account at any time.

How do I open a PSX account, step by step?

  1. Check the broker is active. Find it in PSX’s list of TREC holders. On 7 October 2026 the list had 286 holders, of which 209 were Active. Also check that the branch you deal with is on PSX’s list of registered offices.
  2. Fill the form yourself. Fill every relevant field of the CRF or Sahulat form and strike out fields that don’t apply, so nothing can be added later. Keep a copy signed by you and the broker.
  3. Do your KYC once. NCCPL is the central KYC organisation. Once your KYC is done with one broker, you don’t fill the KYC form again with a second one.
  4. Get your UIN and CDC account. The broker gets your UIN (Unique Identification Number) from NCCPL and opens your CDC sub-account. Make sure your CNIC, mobile, email and address match on every form, then sign the CDC posted report.
  5. Read the tariff schedule and fund the account. The broker must give you its commission rate and levies. Pay only from a bank account in your own name.

PSX also suggests opening a CDC Investor Account. Only you can give instructions on it, and PSX calls it more secure than a sub-account held through the broker.

Can I open a PSX account online?

Yes, in two ways:

  • Through a broker’s online process. PSX keeps a list of brokers that open accounts online. Brokers can onboard you digitally through the Centralized Gateway Portal after verifying you.
  • Through your bank (Shared KYC). SECP, SBP, PSX, CDC and NCCPL run this together. You start on an eligible bank’s portal, pick a broker and agree to share your bank KYC. CDC passes it to the broker and NCCPL, and NCCPL issues your KYC number. It is open to resident Pakistani individuals with an active, up-to-date bank account. PSX calls it a pilot with some banks and brokers.

Overseas Pakistanis use their Roshan Digital Account bank’s portal instead. Allied Bank, for example, says you get your broker confirmation, UIN and CDC account within 24 hours of verification. See investing through a Roshan Digital Account.

What is the PSX account opening fee?

PSX doesn’t fix an opening fee. Each broker sets its own charges. It must give you a tariff schedule showing:

  • its commission and any other charges
  • the regulatory levies of PSX, CDC, NCCPL and SECP
  • taxes and duties

A change in commission needs 30 days’ notice to you. Brokers must tell you about changes in levies or taxes within 7 working days.

Two costs we could confirm:

  • CDC sub-account: no annual maintenance fee since 1 July 2024. CDC added a fee for moving shares within an account instead.
  • Commission floor: a PSX rule from October 2019 sets the minimum at 3 paisa a share or 0.15% of the trade, up to 2.5%. We couldn’t confirm it is unchanged in 2026.

We couldn’t open CDC’s or NCCPL’s current tariff pages, so we don’t quote their per-trade fees.

How do I check a broker is licensed?

Use PSX’s list, not the broker’s own website. Each entry shows the TREC number, category, Shariah status and Status: Active. PSX’s broker page also links brokerage firms’ credit ratings and the list of Shariah-compliant brokers. We don’t recommend individual brokers.

Once the account is open, the next steps are in how to invest in PSX. To pay the lower tax rates on gains and dividends, you need to be on the Active Taxpayers List: see how to become a filer.

More guides: mutual funds in Pakistan, investment options in Pakistan, Investing.

Questions people ask

What documents do I need to open a PSX account?

For a Sahulat account, PSX asks for a simplified form and a copy of your CNIC. A normal account uses PSX's Customer Relationship Form and KYC form, and the broker asks for supporting documents.

Can I open a PSX account online?

Yes. PSX publishes a list of brokers that open accounts online. Under Shared KYC, resident Pakistanis at some banks can also start from their bank's portal.

What is the PSX account opening fee?

PSX doesn't set one fee. Each broker sets its own charges and must give you its tariff schedule when you open the account. CDC dropped its annual sub-account maintenance fee from 1 July 2024.

How do I check if a broker is licensed?

Search PSX's list of TREC holders, which shows each broker's status. Deal only with brokers marked Active, and check the branch is on PSX's list of registered offices.

Sources

  1. Sahulat Account, Pakistan Stock Exchange (PSX) (accessed 8 Oct 2026)
  2. Shared KYC, Pakistan Stock Exchange (PSX) (accessed 8 Oct 2026)
  3. Online Account Opening, Pakistan Stock Exchange (PSX) (accessed 8 Oct 2026)
  4. Select your stock broker, Pakistan Stock Exchange (PSX) (accessed 8 Oct 2026)
  5. List of TREC Holders of PSX (7 Oct 2026), Pakistan Stock Exchange (PSX) (accessed 8 Oct 2026)
  6. Investor Awareness Guide, Pakistan Stock Exchange (PSX), copy hosted by AKD Securities (accessed 8 Oct 2026)
  7. CDC eliminates annual maintenance fee for sub-account holders, The News (accessed 8 Oct 2026)
  8. Sahulat Account limit raised to Rs3m, one account per broker, Mettis Global (accessed 8 Oct 2026)
  9. PSX prescribes standard range of brokerage commission, Mettis Global (accessed 8 Oct 2026)
  10. Roshan Equity Investment, Allied Bank (accessed 8 Oct 2026)

Photo: William Iven / CC0 1.0

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