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How to Trade Crypto, forex, imdecis and Commodities in Pakistan

Zeeshan Hussain

• 2 min read
How to Trade Crypto, forex, imdecis and Commodities in Pakistan

For Trading cryptocurrencies join the following platforms

1) Bybit: https://partner.bybit.com/b/songachi

(2) MEXC : https://www.mexc.com/en-US/register?inviteCode=mexc-1PfPi

(3) Bitmart: https://www.bitmart.com/register-referral/en?r=WmQMuj

OPEN YOUR BROKER ACCOUNT:

You will open a brokerage account after choosing your brokerage company. Make sure the aforementioned Account is opened in your name. In relation to this account, you will be assigned a Client Identification Number or an Account Number. Check to see if the terms and conditions specified in the Account Opening Form correspond to those on the Standard Account Opening Form posted on the PSX website.

You will next create a CDC Sub Account. The account through which you can really trade on the stock market is the CDC Sub Account.

Additionally, you are urged to create a CDC Investor Account. By opening an account at the CDC, you can increase the security and personal custody of your shares.

You must ensure that a Unique Identity Number is issued to you (UIN). All of your brokerage accounts and transactions will be tracked against this number.

To buy shares, you will also need to deposit a down payment. Verify that a cash deposit has not been made.

PLACE YOUR ORDER & GET CONFIRMATION:

Once you have chosen which stocks to purchase, you should do so through your stockbroker (or through the online application provided by your brokerage firm)

You should receive a Trade Confirmation for your executed order after placing the transaction and it being performed.

For Trading cryptocurrencies join the following platforms

1) Bybit: https://partner.bybit.com/b/songachi

(2) MEXC : https://www.mexc.com/en-US/register?inviteCode=mexc-1PfPi

(3) Bitmart: https://www.bitmart.com/register-referral/en?r=WmQMuj

SETTLEMENT OF TRANSACTIONS & STOCK MARKET ECOSYSTEM:

Through NCCPL, the shares bought or sold are resolved (payments are sent or received) (National Clearing Company of Pakistan Limited). The CDC serves as the intermediary for the share exchange (Central Depository Company Limited). The brokerage companies and TREC holders, along with these two organisations, make up the majority of the PSX ecosystem.

ONLINE TRADING FACILITY:

For its clients, many brokerage houses provide an online trading option. As an investor, this enables you to trade independently on the Stock Exchange via an internet programme or piece of software.

BASIC TAXES & CHARGES:

The following list includes the fundamental taxes and fees that apply to shares traded on PSX:

Brokerage Commission, CVT, IPF, SECP Fee, and Capital Gains Tax (CGT) (Tax Return Filers: 15%, Tax Return Non-filers: 20%) are a few more taxes that may be paid.

SEQUENCE OF STEPS TO START INVESTING IN STOCKS:

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