10 Popular PSX Stock Brokers in Pakistan: Fees, Apps & How to Open an Account

Updated June 2026 · 12 min read

Short answer: Any PSX broker you use must be an active TREC (Trading Rights Entitlement Certificate) holder licensed by the SECP. Below are 10 well-known, active PSX brokers with their trading apps, published commission rates, minimum deposits, and how to open an account. Tap any broker to expand the full details.

Every figure here comes from the broker's own website or commission sheet, or from official PSX records, as of June 2026. Where a broker does not publish a rate, we say so plainly instead of guessing, commissions are often negotiable and are confirmed when you open the account.

Quick broker comparison

AKD Securities

Research + full-service brokerage

App / platform: AKD TradePro app (iOS & Android); TradeCast desktop terminal
Published commission: Rs 0.03/share or 0.15%
Minimum: Rs 5,000
Best for: Research + full-service brokerage
Online opening: Yes

MRA Securities

Active traders

App / platform: MRA D-Trade (web + iOS & Android app)
Published commission: Rs 0.03/share or 0.15%
Minimum: Rs 25,000
Best for: Active traders
Online opening: Partial / confirm

JS Global Capital

Low starting amount

App / platform: JS InvestPro app (with a separate Shariah variant)
Published commission: Rs 0.03/share or 0.15%
Minimum: From Rs 500-1,000
Best for: Low starting amount
Online opening: Yes

Khanani Securities (MMMAKSL)

High-volume PSX trading

App / platform: MMK Trade-iFlair app (iOS & Android); TradeCast / TradeLinks web
Published commission: Rs 0.03/share or 0.15%
Minimum: Confirm with broker
Best for: High-volume PSX trading
Online opening: Yes

Arif Habib Limited

Full-service + Islamic/RDA options

App / platform: AHL eTrade (web/desktop) and the AHL mobile trading app
Published commission: PSX minimum / confirm
Minimum: Rs 10,000 for RDA
Best for: Full-service + Islamic/RDA options
Online opening: Yes

KTrade Securities (KASB)

Mobile-first beginners

App / platform: KASB | KTrade mobile app
Published commission: Rs 0.03/share or 0.15%
Minimum: Confirm with broker
Best for: Mobile-first beginners
Online opening: Yes

Topline Securities

Research-focused investors

App / platform: Vtrade (order execution) and KITS (market monitoring / research)
Published commission: Rs 0.03/share or 0.15%
Minimum: Rs 10,000
Best for: Research-focused investors
Online opening: Form/courier

SCS Trade (Standard Capital Securities)

Published fee comparison

App / platform: SCS Trade / SCSTrade PRO app (Android & iOS); web at invest.scstrade.com
Published commission: Rs 0.03/share or 0.15%
Minimum: Rs 25,000
Best for: Published fee comparison
Online opening: Yes

Next Capital

Low minimum + full-service

App / platform: Next Advantage online platform and the Next Capital mobile app
Published commission: Confirm with broker
Minimum: Rs 5,000
Best for: Low minimum + full-service
Online opening: Yes

Sherman Securities

Traditional brokerage support

App / platform: No named retail app published, confirm with broker
Published commission: Confirm with broker
Minimum: Confirm with broker
Best for: Traditional brokerage support
Online opening: Yes

This summary is for quick comparison only. Open each broker below for full details and confirm current charges directly with the broker.

How this list was made

These are widely-used PSX brokers that recur in the exchange's own monthly rankings (by traded value, traded volume, active accounts and new UINs) and that offer retail account opening with a trading app. The order is not a quality ranking and is not an endorsement. The right broker for you depends on commission, app quality, research, support and minimum deposit, compare a few before deciding.

AKD SecuritiesOne of Pakistan's largest and oldest full-service brokers, known for award-winning equity research.

Legal name: AKD Securities Limited
Platform / app: AKD TradePro app (iOS & Android); TradeCast desktop terminal
Regulation: SECP-regulated; TREC holder of PSX and PMEX (Pakistan Mercantile Exchange)
Account types: Equities (individual & corporate), commodities, and a Roshan Digital Account for overseas Pakistanis
Commission: Shares up to PKR 4.99: Re 0.03 per share. Shares PKR 5 and above: Re 0.05 per share or 0.15% of trade value, whichever is higher. Delivery and day-trade charged at the same rate (day trade billed one side only).
Minimum to start: Minimum initial deposit shown in AKD's official account-opening form is PKR 5,000; confirm current requirement before funding.
How to open: Apply online at aof.akdsl.com, attested CNIC copy plus a cheque / bank details. Account is usually live within ~3 business days.
Website: akdsl.com

MRA SecuritiesConsistently among the top PSX brokers by traded value and volume (PSX member since 2000).

Legal name: MRA Securities Limited
Platform / app: MRA D-Trade (web + iOS & Android app)
Regulation: SECP Trading & Self-Clearing licence; PSX TREC holder (also underwriting & consultant-to-issue)
Account types: Standard/cash, Roshan Equity Investment (overseas), and an Islamic 'MRA Wiqaya' Shariah account
Commission: Ready/delivery and intraday equity: Rs 0.03, or 0.15%, or an agreed rate, whichever is higher, capped at 2.5% of transaction value (the PSX standard minimum structure).
Minimum to start: Minimum deposit Rs 25,000 (one page cites Rs 5,000, confirm with broker)
How to open: Download / courier the account form with attested CNIC copies (applicant + joint/nominee/witness), a bank deposit slip, and source-of-income evidence. Processing ~4 working days.
Website: mra.com.pk

JS Global CapitalOne of Pakistan's largest brokerage and investment-banking firms; part of the JS Group.

Legal name: JS Global Capital Limited
Platform / app: JS InvestPro app (with a separate Shariah variant)
Regulation: SECP-licensed; PSX TREC holder and PMEX member
Account types: Basic, Premium (trader-assisted), Student, and Digital Sahulat accounts; Roshan Equity Investment; Islamic via JS InvestPro Shariah
Commission: Published JS commission slab shows Rs 0.03/share for low-priced shares and 0.15% of trade value / agreed rate for higher-priced shares, subject to minimums and final broker confirmation.
Minimum to start: Account opening from Rs 1,000; Digital Sahulat from Rs 500
How to open: Open digitally at aof.jsglobalonline.com, or submit the Individual Account Opening + KYC forms. Documents: valid CNIC, KYC form, bank details (Sahulat needs only CNIC).
Website: jsglobalonline.com

Khanani Securities (MMMAKSL)An independent broker founded in 1998, among PSX's top-five by trading volume with roughly 10,000 clients.

Legal name: Muhammad Munir Muhammad Ahmed Khanani Securities Limited · TREC #084
Platform / app: MMK Trade-iFlair app (iOS & Android); TradeCast / TradeLinks web
Regulation: SECP-regulated; PSX TREC #084; connected to CDC and NCCPL
Account types: Equities (PSX) and commodities (PMEX); Roshan Equity Investment for overseas Pakistanis
Commission: Official PSX-prescribed slab: Rs 0.03 per share for shares priced PKR 0-20; 0.15% of trade value for shares priced above PKR 20.
Minimum to start: Not publicly published, confirm with broker
How to open: Complete the digital account form. Documents: CNIC, IBAN / proof of IBAN, specimen signature, email, mobile, and proof of employment.
Website: munirkhanani.com

Arif Habib LimitedPart of the Arif Habib Group, a large brokerage, investment-banking and research firm.

Legal name: Arif Habib Limited (AHL)
Platform / app: AHL eTrade (web/desktop) and the AHL mobile trading app
Regulation: SECP-regulated; confirmed PSX TREC holder
Account types: Classic (self-trade), Premium (assigned trader), AHL Islamic (Shariah), and a Roshan Digital Account (conventional + Islamic)
Commission: AHL says it applies the minimum commission notified by PSX; the exact signed rate is confirmed after the trading account is opened.
Minimum to start: Roshan Digital Account requires Rs 10,000 minimum initial deposit; resident-account minimum not published
How to open: Apply online at forms.ahletrade.com, register and submit identity documents. Documents: CNIC, bank details, proof of address (income proof if applicable). Review ~3-5 business days.
Website: arifhabibltd.com

KTrade Securities (KASB)A fintech-driven, app-first broker aimed at low-cost retail access to the PSX.

Legal name: KTrade Securities Limited (formerly Khadim Ali Shah Bukhari Securities)
Platform / app: KASB | KTrade mobile app
Regulation: SECP-regulated; PSX TREC holder; NCCPL & CDC participant
Account types: Standard PSX equity (incl. single Sahulat account), Roshan Digital Account, and PMEX commodities
Commission: Shares up to PKR 20: PKR 0.03 per share. Shares PKR 20 and above: 0.15% of traded value. Delivery and day-trade at the same rate (day trade one side only). No broker account-opening fee; standard NCCPL/CDC third-party charges and a PKR 50/month SMS fee apply.
Minimum to start: No account-opening fee; minimum investment not publicly published, confirm with broker
How to open: Complete the online form in-app. Documents: CNIC, bank IBAN, salary/bank statement, plus biometric/KYC. Account ready in ~2-3 business days.
Website: kasb.com

Topline SecuritiesAn award-winning brokerage with a large market share and well-regarded equity research.

Legal name: Topline Securities (Pvt.) Limited · TREC #166
Platform / app: Vtrade (order execution) and KITS (market monitoring / research)
Regulation: SECP-licensed securities broker; active PSX TREC #166; also futures broker & underwriter
Account types: Individual, Corporate, Sahulat, and Commodity (PMEX); Roshan Equity Investment for overseas Pakistanis
Commission: Topline account forms show the standard PSX minimum structure: Rs 0.03/share for low-priced shares and 0.15% / agreed rate for higher-priced shares. Confirm latest signed commission sheet.
Minimum to start: Initial deposit Rs 10,000
How to open: Download the account-opening form and submit at a branch or by courier. Documents: attested CNIC (applicant/joint/nominee), signed commission sheet, proof of employment, and a bank account for funding.
Website: topline.com.pk

SCS Trade (Standard Capital Securities)A retail- and online-focused broker that advertises low online trading commission.

Legal name: Standard Capital Securities (Pvt) Ltd
Platform / app: SCS Trade / SCSTrade PRO app (Android & iOS); web at invest.scstrade.com
Regulation: SECP-regulated; PSX TREC holder
Account types: Standard Online (equities), Roshan Digital Account, and a PMEX commodities account
Commission: Online trading commission: shares from Rs 0.01 to Rs 10: Rs 0.03 per share; shares Rs 10.01 and above: Rs 0.05 per share or 0.15% of share value, whichever is higher.
Minimum to start: Minimum deposit Rs 25,000 (one section of their site cites Rs 100,000, confirm with broker)
How to open: Apply online at aof.scstrade.com (no biometric for online applications). Documents: CNIC (front/back), IBAN / cheque proof, a mobile SIM in the applicant's name, source-of-income proof, and a utility bill for address.
Website: scstrade.com

Next CapitalA full-service PSX and PMEX brokerage serving retail and institutional investors.

Legal name: Next Capital Limited
Platform / app: Next Advantage online platform and the Next Capital mobile app
Regulation: SECP-regulated (Reg. 0071068); PSX TREC holder; affiliated with CDC, NCCPL and PMEX
Account types: Standard equity, PMEX commodity, IPS, and joint accounts (up to 4 holders)
Commission: Not publicly published, confirm with broker. No equity rate is advertised on the official site.
Minimum to start: Minimum deposit PKR 5,000 (equity); PMEX commodity from PKR 25,000
How to open: Register online at onboarding.nextcapital.com.pk. Standard documents (CNIC, bank details) apply, full checklist not published, confirm with broker. UAN 021-111-639-825.
Website: nextcapital.com.pk

Sherman SecuritiesA long-established Karachi-based PSX broker (founded 2002) offering equities, research and trading tools.

Legal name: Sherman Securities (Private) Limited · TREC #006
Platform / app: No named retail app published, confirm with broker
Regulation: SECP-regulated; PSX TREC #006 (status: Active, Trading & Self-Clearing)
Account types: Equity brokerage accounts; Roshan Digital / Islamic options not published
Commission: Not publicly published, confirm with broker. Their FAQ notes fees vary by trade size, order type and market conditions.
Minimum to start: Not publicly published (site promotes a 'Free Account'), confirm with broker
How to open: Apply online via 'Open an Account Now' on their website, upload the required documents, then await approval. Standard PSX/CDC requirements (CNIC, bank account) apply.
Website: shermansecurities.com

Charges every PSX investor pays (whatever broker you pick)

On top of the broker's commission, the same regulatory and tax charges apply across all brokers:

Capital Gains Tax (CGT): on profits when you sell, 15% for tax-return filers, 20% for non-filers (rates set in the Federal Budget and can change)
Sales tax on commission: provincial sales tax (e.g. 15% Sindh Sales Tax) is added to the broker's commission
CDC & NCCPL charges: small custody and settlement fees, billed through your broker
Dividend withholding tax: deducted automatically when a company pays a dividend

The standard account-opening process

Across every PSX broker the process is broadly the same (most of it is now online):

Open a brokerage account with the broker, you receive a Client Identification Number.
A CDC sub-account is opened where your shares are held electronically (the broker handles this for you).
You are issued a UIN (Unique Identification Number) by NCCPL, your single identity for trading on PSX.
Complete KYC: attested CNIC, bank account details (IBAN), proof of address, a recent photograph, and a source-of-income declaration; many brokers also do a quick biometric or video verification.
Fund your account by transferring money to the broker's registered client account, never into anyone's personal account.

For a full beginner walkthrough, see How to Start Investing in the Pakistan Stock Exchange.

Sources & further reading

PSX, Top 10 Brokers (official monthly rankings)
PSX, Select Your Stock Broker & open an account
PSX, TREC Holders (verify any broker is licensed)
Each broker's official website and published commission sheet (linked in the cards above)

FAQs

Which PSX broker is best for beginners?

There is no single best broker for everyone. Beginners should compare minimum deposit, app simplicity, account-opening process, support quality, and whether the broker clearly explains charges before account opening.

Which PSX broker has the lowest commission?

Some brokers publish a common structure such as Rs 0.03 per share for low-priced shares or 0.15% of trade value for higher-priced shares. Others confirm commission only when opening the account. Always ask for the latest signed commission sheet.

Can I open a PSX broker account online?

Yes, many PSX brokers now offer online account opening. You usually need CNIC, bank IBAN, mobile number in your name, income/source-of-funds details, and KYC or biometric verification.

How do I verify if a broker is licensed?

Check the broker on the official PSX TREC Holders page and confirm that the broker is active before sending documents or money.

What is the minimum amount to open a PSX account?

It depends on the broker. Some brokers advertise low starting amounts, while others require Rs 10,000, Rs 25,000, Rs 100,000, or confirm the minimum directly during account opening.

Picked a broker? Now research what to buy. Analyze any PSX company for free.

This article is for educational purposes only and is not financial advice or a recommendation of any broker. Commission rates, minimum deposits and account terms change, always confirm the current figures directly with the broker before opening an account. Listing order is not an endorsement.