How can I open an account through Abbasi Securities
To open an account, you can download the account opening form through our website or collect a copy from our designated offices. The account opening form needs to be filled in completely and signed by the prospective client before submission along with the necessary documents to our office.
What type of account can I open through Abbasi Securities?
You will be able to open an equity brokerage account under which a CDC sub-account is activated through which you are able to buy and sell equities. We also offer online trading account services which can be subscribed to for execution of orders.
How long does it take to open an account?
Upon receiving all required documents and signed account opening form, it takes 24-48 hours for the complete activation of account.
How much money do I need to open an account with Abbasi Securities?
As a conscious decision we have kept NO MINIMUM INVESTMENT AMOUNT requirement to enable everyone to invest their savings in the stock market.
All clients at Abbasi Securities have access to the following:
- Order Placement over phone
- Mobile Trading Application
- Research Reports (through email)
- Equity Trader Facility
Who is your typical client?
We promote long-term investment philosophy and most of our clients are of the same investment nature.
We serve both institutional and individuals.
Can a foreign resident open an account through Abbasi Securities?
Yes. Non-residents are allowed to trade freely in the shares quoted on the Pakistan Stock Exchange. For this purpose in addition to the account opening formalities i.e. account opening forms and documentation applicable to resident investors, non-residents are required to open Special Convertible Rupee Account (SCRA) with any authorized dealer in Pakistan. Such accounts are fed by remittances from abroad or by transfer from a foreign currency account maintained by the non-resident investor in Pakistan. The balance therein can be used for purchase of any share quoted on the Pakistan Stock Exchange. Payment for such purchases may be debited to the account on production of stock brokerâ€™s memo showing sale of shares to the account holder and disinvestments proceeds may be credited.
The fund available in such special accounts can be transferred outside of Pakistan or credited to a foreign currency account maintained in Pakistan at any time. These accounts can also be credited with dividend income.
How can I deposit money in my Abbasi Securities Brokerage account?
We provide the following multiple options for investors to fund their brokerage accounts:
- Cross Cheque in the name of â€˜Abbasi Securities Pvt Ltdâ€™
- Online Funds Transfer
Please note that as per the guidelines of the regulatory bodies we do not accept cash in excess
Of PKR 25,000/- as it requires reporting of the reason for accepting the payment in cash. We
discourage all cash dealings below the minimum mark as well and advise all our clients to use
one of the two options given above for payment of any liabilities at their end.
How do I withdraw funds from my account?
You can make a request for funds withdrawal by calling us at 111-555-275 or emailing your request to any member of the trading team. Please note that funds can only be withdrawn after settlement of any pending trades.
For example if you sell 1,000 shares of ENGRO today and settlement is T+2 then day after tomorrow you will be eligible for funds transfer request.
Please note that we encourage all clients to maintain PKR 1,000/- of credit in their accounts so any CDC, NCCPL and other account related costs can be deducted.
Also note that Abbasi Securities reserves the right to retain necessary funds in the account when processing withdrawal requests to ensure any future taxes (capital gain tax) deduction.
Where are my funds held?
You can make a request by emailing us from your registered email address to any member of the trading team or at firstname.lastname@example.org.
Once the change is updated, Abbasi securities will share an updated set-up report with you for signatures.
Can I authorize someone else to operate my account on my behalf
Yes, you can authorize someone else to operate your account. We will require signatures of both parties on a authorization letter which is available on our website for download and also the CNIC copy the authorized representative.
How can I transfer my brokerage account with another firm to Abbasi Securities
You can transfer inventory (stocks) from another brokerage house to Abbasi Securities by opening an account with Abbasi Securities and then requesting the other brokerage house to transfer all inventory (stocks) to the new account.
How can I transfer my shares to Abbasi Securities from my CDC Investor account and vice versa?
You can transfer shares from your CDC Investor account to your CDC sub account at Abbasi Securities through either submitting a CDC Transfer Order or by using their online facility.
You can transfer shares from your sub â€“ Account at Abbasi Securities to CDC investor account by sending an email to us from your registered email ID with information of your CDC investor account to email@example.com.
What is an Investor Account and what is the difference between my brokerage account with Abbasi Securities and Investor account?
Investor Account is a service directly offered by CDC under which an investor can directly open an account through CDC for the custody of securities.
Your brokerage account is a CDC sub-account which can be opened through a broker for both custody and trading purpose.
For more information on CDC Investor account please visit CDC website http://cdcpakistan.com/
You can also read more on the difference between CDC sub account and Investor account at http://www.jamapunji.pk/knowledge-center/how-open-account-cdc
Who can I contact in case of any complaint related to the service of my account?
At Abbasi Securities we take client satisfaction very seriously and attend to any client complaint on a priority basis. You can either email us at firstname.lastname@example.org or call us at 111-555-275 to record your complaint. You can also use feedback form at our website to voice your concern.
Alternatively, as an investor you have the right to contact either the Pakistan Stock Exchange (PSX) or Securities and Exchange Commission of Pakistan (SECP) or both through the following links to register your complaint: