Zafar Securities provides all brokerage services offered by the PSX (Pakistan Stock Exchange) and Commodities (PMEX). We also provide underwriting for listings and can help companies in achieving listing on PSX. We also provide guidance on trading in stocks and commodities. You can use any of our platform to trade online BOS Trading Terminal (Windows and OS) on the mobile app (Android & iPhone) and a Web Based Trading Terminal.

Locations of Zafar Securities are mentioned on Contact us page.

Yes, we do. For contact details please visit our page.

You can subscribe to all our research reports by registering your email at our blog Zafar Stocks News and Updates.

We have been in the business for the last 20 years and our chief executive has been in this business for the last 25 years. He has also been the chairman of the exchange twice and has served on its board on a number of occasions.

Currently there are no online trading terminal charges; however, once we update our trading terminal, which includes live and updated financial information, there will be an annual minimum charge of Rs. 200 for this premium service.

Yes we do. 519, Lahore Stock Exchange Building 19, Khayaban-e-Awan-e-Iqbal Lahore, Pakistan.

We normally close at 5:30 pm however our offices may remain open till 7:00 pm.

We are registered with PSX code 068 and SECP BRL 011.

Yes we have forum discussions in which you can participate and seek advice.

We do not charge for our regular services, however the premium service like the fundamental data is available at a small subscription.

Please visit our web page at www.zafarstocks.com It has the latest information of our company.

Download form our web page BOS Trading Terminal.

Register your email on our blog Zafar Stocks News and Updates.

You can use the trading terminal to request the withdrawal of funds, or call your branch manger or the account executive to assist you.

You will be provided with a specific trader or account executive that will look after all your account related needs.

There is no minimum requirement for investment in the PSX. However, a minimum cash balance of Rs. 20,000 is required to be maintained in your account with Zafar Securities.

Following charges are applicable on all new accounts: UNI Charges Rs.400/- , NCSS Charges Rs.900/- , CDC Charges Rs. 400/-. , Biometric and Verisys Charges Rs.150/-.

Annual Charges: NCSS Charges Rs. 500/- , CDC Charges Rs. 400/-

Our Commissions are based on slab system and are not fixed as a percentage of value. Further, we provide discounts on large volume deals and same day trading accounts.

There are three types of accounts you can open.
TYPE 1) Individual account (Resident or non resident Pakistani) Individuals can also have joint accounts. Requirements: a) Valid CNIC of account holder(s) and nominee(if any) attested copies of all account holders and nominees are required b) Valid bank account (form has to be attested by relevant bank branch manager.

TYPE 2) Company Account (Incorporated in Pakistan) Requirements a) Article of Memorandum and Association b) Board Resolutions c) Form A d) Certificate of Incorporation e) List of authorized persons who will operate the account and their CNIC.

TYPE 3) Foreign National Account (SACRA account)You can download our forms for the web page or come to any of our branches to receive the account opening forms. All forms have been standardized by SECP/CDC. You will have to verify your signatures from your bank and physically post the forms to us or deliver them by hand to any of our offices.

For more details you can check our Invest into PSX (Pakistan Stock Exchange) information.

It takes 2-3 working days to open an account.

Yes but we will require the original forms to open your account.

Dividend mandate if checked in your SAVE is automatically sent to your designated bank by the company. If you are not getting it kindly check with the company. You will get the counter folio of the dividend once the company has deposited it in your designated bank account.

You need to download our commodity form and fill out the details and bring it to our office along with you attested CNIC. Once approved you will be allotted a login and password by PMEX.

Yes it is. Syed Asim Zafar is chairman of Zafar Securities Pvt. Ltd.

Yes the account may be opened but it will be suspended and may not be operational. As a security feature; if there is no activity buying/selling for more than a year, that the account becomes inactive and no more trading or withdrawal is allowed. You will have to contact us through your email account registered with us; in order for it to become active again.

The account is blocked due to the following reasons:
1. Incomplete or missing documentations
2. Notice issued by SECP/CDC/PSX
3. Expired CNIC
4. Suspicious Trading activity

Investor account allows you to maintain your custody with CDC directly.

Kindly use the “account update form” available in the download tab of our web page to update any information in your account.

All the fees are automatically charged on your account. You are requested to keep a minimum balance of Rs. 5000 so that all fees are duly paid.

Account opening charges are deducted once at account opening time and then annually for account maintenance.

You should have your CNIC attested from a 19 grade officer or above. Further you can bring the original to our office and get a scanned copy for the record.

Yes, you can trade on PSX from anywhere in the world as long as you have opened an account with Zafar Securities.

Step 1. The procedure involves opening up an account with ZSL in the same name/person in whose name the physical shares are endorsed.
Step 2. Have the transfer deeds verified from the company registrar.
Step 3. Bring the transfer deeds along with the physical shares to ZSL office.
Step 4. ZSL staff will fill out the share deposit request form.
Step 5. The account holder/person whose signature are endorsed on the transfer deed has to sign the share deposit request form and must retain a copy for his record.
Step 6. ZSL will send the physical shares along with the transfer deeds and share deposit request form to the company registrar.
Step 7. The company registrar will deface the share certificated and grant approval for CDC.
Step 8. Shares will be available in your CDC sub account with SSL as custody for future action/sale.
The entire process may take up to 8 weeks.

This is due to a security feature. If there is no activity of buying/selling for more than a year, then the account becomes inactive and no more trading or withdrawal is allowed. You will have to contact us through your email account registered with us in order for it to become active again.

The account is blocked due to the following reasons:

• Incomplete or missing documentations
• Notice issued by SECP/CDC/PSX
• Expired CNIC
• Suspicious Trading activity

You should have the entire amount in your account before you buy the shares. You can buy upto 3 times your net equity with Zafar Securities. All trades will be settled on a T+1 day cycle. Zafar Securities will not provide any margin trading facility; however you can trade in the margin trading system.

Online trading system of Zafar Securities is called BOS Trading Terminal. You can download it for free form our web portal www.zafarstocks.com and install it on your desktop (windows) Log in and password will be provided by Zafar Securities on your email registered with us.

There is no minimum or maximum of shares that can be bought at Zafar Securities. But remember that you need to have to make full payment in order to settle your obligations with PSX. Its advisable to invest only that amount which is freely available and is at your disposal.

You can only deposit cash up to Rs. 25,000 in your account. We do not pay cash in any accounts. You will only be provided a payee account check.

For students only. We want to see future investors of capital market grow. So young students who want to feel the trading environments get Rs. 1000 back from the commissions that they have paid to Zafar Securities.

Following are the terms and conditions:

“Valid for new accounts only with valid student ID, Provided the 25 trades are made within 15 days of account opening A trade is defined as having a minimum volume of 1000 shares at the same rate”.

Commission is based on the contract; you are advised to discuss your slab with your account executive.

You can participate in the book building process or apply for shares when the company goes for public subscription.

Bonus shares are automatically credited to your CDC sub account; subject to fulfilling the tax requirements of FBR. Right shares have to be subscribed to by receiving the letter of rights from our CDc department and payment of the appropriate amount in the designated bank of the company. Your shares will than be available in your cdc sub account ; within 45 days thereof.

We offer special discounts for large volumes.

The rights offer will lapse and the company may offer the same to anyone else.

Yes you may open account with other brokers; however all your accounts will be tagged by a unique identification number (CNIC).

Only authorized person can trade in your account. Power of attorney has to be given to that person.

Either through on line fund transfer in any of our bank accounts or through cross check payee only account of Zafar Securities (Pvt.) Ltd.

Commission is based on Slab system and vary on Share price. So for example if you were to purchase a share whose price is Rs. 5.50; than this price of share purchased falls in the slab range 0-10 and if your commission rate of this slab is Rs. 0.03 than your cost price will be Rs.5.53 per share. Similarly if you were to sell at Rs. 5.50 than your selling price will be Rs. 5.47. Please consult your slab to get further understanding. Also there are special discounts for day trading and we have different slabs for future and MTS trading.

Right before the book closure of a company the PSX announces a spot date. This signifies that the all the trades falling on and after this date will be settled within 24 hours and will not be included in the t+2 settlement cycle. Check our trading chart.

Whenever there is an action (eg. dividend, right , bonus, AGM, EOGM Directors election etc) the company announces a book closure date. For example a company announces 10% bonus shares. And book closure dates are 15 March to 18 March. The PSX will put the company on spot from 5th to the 14th and all the people in whose names the shares belong by the 15 March will be entitled to the 10% Bonus. So the x-date will be 15th. If you buy on the 15th you will not be entitled for the said bonus. Check our trading chart.

Yes the commission is charged per share.

You should discuss your risk profile with our account executive and then make the investment.

We only make payee account checks and no cash is paid.

We only make payee account checks and can facilitate our valued clients by depositing money into their bank account.

You can hold shares as long as you desire. We have had some clients that have held physical shares since partition 1947. Even though these companies don’t exist now.

No there are no guarantees in the capital market.

You will be assigned an account executive who will assist you and provide you with regular updates.

You should call the IT department at 042-36372470-3 or your account executive and update him regarding the problems

Yes Index is trade able but very illiquid

Yes we offer discounted commissions on same day trading.

This is the amount of investment you are allowed based on your available custody and cash

Custody reduced value is the value of your shares after applicable haircuts.

The stock exchange provides a market place where shares can be bought and sold.

The stock exchange admits companies for trading at their securities. It provides a market for raising capital by companies. It provides a market place for shares of listed public companies to be bought and sold, by bringing companies and investors together at one place. The exchange’s role is to monitor the market to ensure that it is working efficiently, fairly and transparently.

All stock exchanges (KSE, LSE,ISE) are merged into one stock exchange which is PSX (Pakistan Stock Exchange).

The stock exchanges have introduced online trading system to provide a fair, transparent, efficient and cost effective market mechanism to facilitate the investors. The trading system comprises of four distinct segments, which are:

1. T+3 Settlement System;
2. Provisionally Listed Counter;
3. Spot Transactions; and
4. Futures Contracts.

In the T+3 settlement system, purchase and sale of securities is netted and the balance is settled on the third day following the day of trade.

It reduces the time between execution and settlement of trades, which in turn reduces the market risk. It reduces settlement risk, as the settlement cycle is shorter.

The shares of companies, which make a minimum public offering of Rs.100 million, are traded on this segment from the date of publication of offering documents When the company completes the process of dispatch/credit of allotted shares to subscribers, through CDC it is officially listed and placed on the T+3 counter. Trading on the provisionally listed counter then comes to an end and all the outstanding transactions are transferred to the T+3 counter with effect from the date of official listing.

Spot transactions imply delivery upon payment. Normally in spot transactions the trade is settled within 24 hours.

A Futures contract involves purchase and sale of a financial or tangible asset at some future date, at a price fixed today.

Each share represents a small stake in the equity of a company. You can buy large or small lots to match the amount of money you want to invest online. A company’s share price can rise or fall as a result of its own performance or market conditions. Once the shares are brought and transferred in your name your name will be entered in the company’s share register, which will entitle you to receive all the benefits of share ownership including the rights to receive dividends, to vote at the company’s general meetings to receive the company’s reports. If you decide to sell your shares you will need to deliver share certificates to the broker in time for the transaction to be completed. With the introduction of the Central Depository System (CDS), an investor can have shares in paper form or can own shares in an electronic book- entry form at the Central Depository Company (CDC).

Companies issue shares to raise money from investors. This money is used for the development and growth of businesses of companies. A Company can issue different types of shares such as ordinary shares, preference shares, shares without voting rights or any other shares as are permissible under the law. These give shareholders a stake in the company’s equity as well as a share in its profits, in the form of dividends, and a voting right at general meetings of shareholders.

Studies have shown that over a twenty-year span, investment in shares has provided greater returns than most other forms of savings. Zafar Securities Online shares trading can provide you with a regular stream of income through dividends as well as the potential for your investments to grow in value. If the prices of shares go up, you can sell them for more than you paid. This is called capital gain.

Dividends are returns paid to shareholders out of the profits of the company. Returns can be in the form of cash or additional shares of the company called bonus shares. Dividends are usually paid once or twice a year depending upon the company’s profit distribution policy.

This is one of the ways in which shares differ from deposit accounts. The principal amount of money you put in a bank or any fixed income savings scheme always stays the same e.g. if you start with Rs.100,000 you will always have Rs.100,000 (other than any interest earned). changes in value according to the performance of the company. With good management, the value of your investment in shares of a company can grow over time so that your shares are worth more than you paid for them. This is capital growth.

Buying shares can offer advantages over saving in deposit accounts: your investment may increase in value besides paying you dividends. You share the rewards when the company does well and the price of the shares goes up. But if the company performs badly, the share price may go down and the value of your investment will be reduced. Other factors, such as the performance of the stock market as a whole and the general economic climate, may also affect the price of your shares. Investment in shares is therefore investment in ‘risk capital’. The shareholders can be rewarded for taking this risk and the potential return on your money can be higher than that on other investments. You can reduce your risks with careful planning.

We have unified in to PSX so there will only be the best price available all the time.

You can request our CDC department to transfer your specific shares to your CDC investors account or sign and send us your “standing instructions” to transfer all your holdings current and future to your CDC investor account.

In case of death of account holder the nominee is in charge of the account ZSL is bound to follow the instructions given by the nominee. If there is no nominee of the account than only a valid succession certificate will be considered as valid instructions. Further a nominee is the authority until the succession certificate is produced which states otherwise.

“CDC access – IVR is a round-the-clock Interactive Voice Response system supported by a state-of-the-art call center, toll free number and dedicated customer support staff.

For callers in Pakistan, this facility is provided through 0800 – 23275 (CDCPL). Overseas callers can dial +9221-4326038. The IVR service is available 24/7 while the dedicated customer relationship representatives are available for assistance during office hours (9:00 am to 6: 30 pm PST – Monday to Friday).

The key activities provided through CDC access – IVR are as follows:
*Balance of a specific security
*Balance of last three active securities
*Balance of all securities
*Account Activity Report
*Cash Balance
*Cash Activity Report
*Requisition of Transaction Order (T.O) Book
*Change of contact numbers”

You will receive a sms/email alert every time there is movement in your account. Also you can visit your web account anytime and from anywhere to view your status. This account should match with your CDC sub account with Zafar Securities. You should periodically match this with the print out of your CDC sub account

Please fill out the CDC transfer request form and give it to the broker concerned. After due diligence the broker should transfer the shares to your account with Zafar Securities. Please note that the account in both broker houses should match exactly.

No there are no guarantees of profit in stock markets.

There is a list of Shariah Compliant shares; however each bank/fund has its own method of judging. You can also review the Shariah-compliant stocks based index at PSX.

We can provide you with view only trading terminal and mobile app, you will only be able to view market information (rates) no trading is allowed. However SECP gives you a Stock Trading Simulator where you can also open demo account in which you can do dummy trading and view your account details and manage a dummy portfolio. Please visit http://jamapunji.pk/stock-simulator and register today. If you double your dummy money please apply for a job with us.

Profit are subject to investment risks. Always compare your investments to the benchmark index and factor opportunity costs.

Learning never ends. Keep learning but start with the basics like effects of demand and supply on stocks.

Yes we do. Please feel free to contact us on live chat or any of our contact numbers.

No not really, everyone has to start somewhere.

Yes you may receive your payee account check from any of our branches, provided you provide us with the appropriate instructions before hand.

No we don’t and you would require an exchange license for SECP in order for it to be functional.

No, you can not.

Currently dividend income of the filers and non files have a differential of 5% So filers are charges at 12.5% and non filers at 17.5%

Dividend income is always taxed at source. Dividend income taxed at 12.5% Capital Gain tax depends on the holding period. If holding period is less than 1 year(365 days) than CGT 15% of the Net Gain and if holding period is more than 1 year but less than 2 year (730 days) than CGT is 12.5% of the Net Gain and if between 2 to 4 years (1,460 days) than 7.5% of the Net Gain finally there is no tax above 4 years holding period. Losses if any will have to be adjusted within that financial year and are not allowed to be carried forward.

The physical shares can be transferred into your name by filling out the verified transfer deed specific to the share certificate. After affixing the appropriate revenue stamp the share certificate along with these transfer deeds are sent to the company registrar. Who will endorse the share certificates in your name and return you the shares at the address provided on the transfer deed.

The broker has a very important role in the capital markets. He is acting as a buyer/seller on your behalf or in his own capacity and is guaranteeing the settlement of the buy/sell trade.

No we don’t and you would require an exchange license for SECP/State Bank in order for it to be functional.

Bonus share are those shares that the company issues and are pari passu to the company shares however these have been paid up by the company from it earnings. Thus the shareholder does not have to subscribe to it by paying out of his own pocket. Basically these shares are free of cost for the shareholder.

Normally Blue Chip companies are those stocks that have a history of paying out handsome dividends and have a consistent record of good corporate earnings.

We have the same timings of PSX.

All rates are in PKR.