Here is the complete guide to open an account with a broker to invest in stocks ONLINE

• The SECP has established a framework for the digital onboarding of investors.
• It allows investors to open their accounts with a broker from anywhere in the country.

The Securities and Exchange Commission of Pakistan has approved a groundbreaking initiative to enable all Pakistani resident and non-resident investors to open online accounts in the capital market.

The new system will allow investors to open accounts with a broker without requiring to submit any documents physically or the need to visit a broker.

However, to guarantee maximum investor protection, The online client verification process has been introduced to open online accounts.

A Guide to Open Online Accounts with a Broker

Here is how you can create an online brokerage account:

1. The client opens the website of the brokerage account and selects the online account opening option.
2. A webpage will open, requesting the client to provide his/her CNIC/NICOP/POC number, IBAN, email id, and mobile number.
3. The information will be sent to the NCCPL for confirmation, and a One Time Password (OTP) will be generated.
4. The client will then receive an OTP on his/her mobile number and email. After the customer enters the OTP, the account opening form will open.
5. A client must fill the form electronically, agree to the terms and conditions, and attach scanned copies of his/her supporting documents listed on the page and submit.
6. The broker will register the UIN of the client with NCCPL and open the trading account.
7. NCCPL will send the buyer an SMS or email informing him/her about the account opening.

Here is a flow diagram of the digital onboarding process, as stated and governed by the SECP:

Click here for more details on SECP’s services.

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