Anyone from overseas trades in PSX?

I

Islamabadiya

Chief Minister (5k+ posts)
Dream Seller said:
How do you start trading basically? How to open up an account? Has to be in rupees or $$ are fine?
like I do trading here in US through fidelity and Robinhood, what are the available platforms in Pakistan?
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You will have to open an account with a broker, rest will be taken care of. You won’t have to be physically present.
I have heard AKD securities is the best and they have an app as well. Check them out.
 
G

geonuman2005

New Member
Bro, I have opened an account in Pakistan with BIPL securities (Bank Islami) but i am disappointed with these guys. I think go for AKD securities. (Abdul karim dhedi). They have some latest platform and better tools.
I have already traded with (IG UK and Td ameritrade) US and UK brokers. You can not compete with those brokers here in Pakistan.
If you are overseas Pakistani opening an account is very easy as compared to be in Pakistan. You should have an active Pakistani bank account and that is it.
 
O

Ordinary Person

Citizen
I personally use IGI securities. They have good platform for online trading. But if you intend to remit funds from abroad and later want on remit back fund to overseas (investmen+gains), then open SCRA account. Otherwise regular Rupee account is good enough but you can't transfer funds from this account to overseas. However, funds transfer from SCRA is very easy. Also see https://li.com.pk/how-to-invest-international/
So you need to have three accounts: 1) Broker account for trading, 2) CDC account for shares custody and 3) Bank account for funds transfer/dividend receipts. Broker will take care of 1 & 2 without your physical presence. For Bank account, you need to coordinate with your banker.
 
P

peoplesoft

Senator (1k+ posts)
Ordinary Person said:
I personally use IGI securities. They have good platform for online trading. But if you intend to remit funds from abroad and later want on remit back fund to overseas (investmen+gains), then open SCRA account. Otherwise regular Rupee account is good enough but you can't transfer funds from this account to overseas. However, funds transfer from SCRA is very easy. Also see https://li.com.pk/how-to-invest-international/
So you need to have three accounts: 1) Broker account for trading, 2) CDC account for shares custody and 3) Bank account for funds transfer/dividend receipts. Broker will take care of 1 & 2 without your physical presence. For Bank account, you need to coordinate with your banker.
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Dream Seller said:
I’ll keep you guys posted as I’m planning to call them Monday IA and gather more info
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Along with SCRA, another option for accounts these days is Digital accounts for NRPs.
One example: HBL Hamwatan Digital Account. Not sure if brokers accept these accounts or whether they prefer SCRA.

Do share your experience if you manage to open account from abroad. Thanks.
 
P

Pnauman Elvy

Politcal Worker (100+ posts)
Buyer beware.
The PSx is built on insider trading and ghapla baazi...well at least t for novices.
The rosy stories you hear about the spikes/Bullish market is only from the 'foreign funds'!!! They have inexplicably given powers to bring in foreign currency in the morning, transfer it into PKR, rake the profits on short trading and take their money +profit, convert it back into foreign currency and remit it out of country on the same business day....
A sole trading, foreign currency owning Pakistani will never be able to take back their foreign currency once it has been converted into PKR ...ability to convert it back into USD is only given to selected bodies .......not everyone...creating a two tier system of investors.
They own the means of production and we would only be the 'useful idiots'.
 
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