Opening a CDC account in Pakistan is the first practical step to owning shares on the Pakistan Stock Exchange (PSX). Your shares are held electronically with the Central Depository Company (CDC), and you buy and sell them through a licensed stock broker. This guide explains the accounts you need, the documents to keep ready, the simplified Sahulat account and how to check a broker before you hand over any money. It is based on the investor pages of the PSX website as they read when we checked them on 1 November 2026.
Who does what: broker, CDC and NCCPL
Three organisations handle every share you buy, and it helps to know which does what.
- Your broker is a brokerage firm that holds a Trading Right Entitlement Certificate (TREC) from PSX and a brokerage licence from the Securities and Exchange Commission of Pakistan (SECP). It places your buy and sell orders on the exchange. PSX advises potential investors to contact a TREC holder or licensed brokerage firm to open an account and trade (PSX guide to investors).
- CDC is the depository through which delivery of shares takes place. Your shares sit in a CDC account in electronic form instead of as paper certificates.
- NCCPL, the National Clearing Company of Pakistan Limited, handles settlement: the payment for shares you buy and the money you receive when you sell.
CDC sub-account vs CDC Investor Account
PSX describes two kinds of CDC account (PSX: open an account and invest):
- CDC sub-account. This is opened through your broker, and it is the account where the shares you buy are placed. Your broker opens it together with your trading account.
- CDC Investor Account. PSX encourages investors to open this account as well. It is opened at CDC itself, which PSX says adds greater safety and individual custody of your shares.
In short, the sub-account is the convenient default, and the Investor Account gives you direct custody at the depository. Ask CDC or your broker about the current process and any charges for moving shares between the two.
Your UIN: one number for all your trades
When you open an account you should be given a Unique Identity Number (UIN). PSX explains that this is the number against which all of your brokerage accounts and transactions are recorded. Your broker should also give you a client identification or account number, and the account must be opened in your own name.
How to open a CDC account in Pakistan, step by step
PSX sets out this sequence for starting to invest in shares (source):
- Set your objectives. Decide what you are investing for and how long you can leave the money invested.
- Shortlist registered and licensed brokerage firms. See the checks in the next sections.
- Select a firm and read its terms, fees and services.
- Open a brokerage account, a CDC sub-account and, ideally, a CDC Investor Account. Read the terms in the account opening form and check that they match the Standard Account Opening Form available on the PSX website.
- Deposit funds by cheque into your account with the broker. PSX tells investors to make sure it is not a cash deposit.
- Choose the companies you want to research and buy.
- Start investing, and keep the trade confirmations your broker sends after each order is executed.
You may be able to do all of this online. PSX has introduced an Online Account Opening facility for opening a trading account with securities brokers (PSX online account opening), so you may not need to visit an office.
Documents you will need
PSX’s account opening checklist for individuals lists:
- An attested copy of your CNIC (National Identity Card).
- CNIC copies of any joint holders and nominees, if you add them.
- Attested passport copies of the applicant, joint holders and nominees, if they are non-residents.
- A letter of authorisation, if someone other than you will place orders on the account.
- A list of the transaction fee, commission and CDC charges the broker will apply, which you should receive and keep.
Companies need extra documents, such as a certified board resolution, the memorandum and articles of association and a list of authorised signatories. Brokers may ask for more, such as bank account details, so ask your broker for its full list before you start.
The Sahulat account: a simpler start
If you are investing a modest amount, PSX’s Sahulat account is worth knowing about (PSX Sahulat account). According to PSX:
- It is aimed at local investors such as students, housewives and first-time investors.
- It is opened for a single individual, with no joint account holder, using a simplified form and a copy of your CNIC.
- Purchase positions are limited to Rs 1,000,000, and net trades to Rs 1,000,000 a day. You can sell securities up to their full value.
- You can trade in the regular (ready) market, but leveraged products such as the Margin Trading System, margin financing, stock lending and borrowing and the negotiated deals market are not allowed.
- You can convert a Sahulat account to a normal trading account at any time.
How to choose a stock broker
The broker is the firm you trust with your money and orders, so take your time. These checks are based on PSX’s own advice:
- Deal only with licensed brokers. PSX’s investor guidance says to deal only through registered brokers or TREC holders of PSX with a valid brokerage licence issued by SECP, and not to deal with unregistered intermediaries (PSX investor dos and don’ts).
- Check the PSX list. The Find a Brokerage Firm page lists TRE certificate holders by name and city, and marks firms that are under suspension (PSX brokerage firms). The same page links to broker credit ratings and to a list of brokers offering online trading.
- Compare costs. PSX notes there is no prescribed commission rate, and charges can vary from firm to firm. Ask for the full schedule of commission, CDC and other charges in writing.
- Look at the service. Consider the trading app or website, research, how quickly the firm answers questions and whether it has an office in your city.
- Watch for warning signs. Be wary of anyone who promises unrealistic returns, asks for cash, wants to trade without your instructions or suggests off-market transactions, which PSX advises investors to avoid.
What protects you if something goes wrong
If you have a dispute with your broker that cannot be settled directly, PSX’s Regulatory Affairs Division handles investor complaints, and the investor dos and don’ts page explains how to lodge one. If a broker defaults, the Centralized Customer Protection Compensation Fund can compensate its customers up to a maximum of Rs 1,000,000 per claimant whose claim PSX has admitted (PSX investor protection fund). Holding your shares in a CDC Investor Account adds another layer of safety, because they are kept in your own name at the depository.
When you can trade
Once your account is open, orders go through during PSX market hours. The regular market timings below are as published on the PSX trading hours page when we checked on 1 November 2026. Check the page or your broker for holidays and any changes.
| Day | Pre-open | Normal trading | Post-close session |
|---|---|---|---|
| Monday to Thursday | 9:15 am to 9:30 am | 9:32 am to 3:30 pm | 3:35 pm to 3:50 pm |
| Friday, first session | 9:00 am to 9:15 am | 9:17 am to 12:00 pm | none |
| Friday, second session | 2:15 pm to 2:30 pm | 2:32 pm to 4:30 pm | 4:35 pm to 4:50 pm |
After your first deposit, our beginner’s guide to investing on the PSX walks through choosing and buying your first shares, and our guide to reading a stock page explains the Pulse Score, our measure of a company’s financial quality, scored out of 100, and the fair value, our model estimate of what one share is worth. You can research every listed company on the Market Pulse Hub dashboard.
Frequently asked questions
What is a CDC account in Pakistan?
It is an electronic account at the Central Depository Company where your PSX shares are held. A CDC sub-account is opened through your broker, while a CDC Investor Account is opened directly at CDC and gives you individual custody of your shares.
Do I need both a CDC sub-account and a CDC Investor Account?
You need a brokerage account and a CDC sub-account to trade. PSX encourages investors to open a CDC Investor Account too, for greater safety and individual custody, but it is optional.
Can I open a stock trading account online in Pakistan?
Yes. PSX has introduced an online account opening facility for trading accounts with securities brokers. You will still need your CNIC.
What are the Sahulat account limits?
According to PSX, a Sahulat account allows purchase positions of up to Rs 1,000,000 and net trades of up to Rs 1,000,000 a day. It is for single individuals and needs only a simplified form and a copy of your CNIC.
How do I know if a broker is genuine?
Check that the firm appears on PSX’s list of TRE certificate holders and is not marked as under suspension, and that it holds a valid brokerage licence from SECP. Never deposit cash, and be wary of promises of high or guaranteed profits.
How much does it cost to open a CDC account?
Charges vary by broker and service, and PSX says there is no prescribed commission rate. Ask your broker for its full schedule of account, commission and CDC charges before you sign, and confirm current CDC fees with CDC or your broker.
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Bilal, Market Pulse Hub
Figures are from company results, exchange data and our calculations up to 1 November 2026 and will change as new data arrives. This article is for education only and is not investment advice.