The best brokerage firm in Pakistan for most people is a top-rated broker whose fees you can actually see before you sign. On that test, AKD Securities stands out among the big names: it holds the top BMR1 management rating and publishes its full commission schedule. Foundation Securities and KTrade also publish their rates, and Next Capital (Finqalab) has the lowest stated entry point of Rs 5,000 with fully in-app onboarding.
This page compares nine PSX brokerage firms on what they charge and what they ask of you: published commission, minimum deposit, account types and how you fund the account. Every figure was checked on the broker's own website or a PSX notice on 8 October 2026. For the safety side (ratings, penalties and ownership), read our independent safety ranking of trading apps and brokers. This article does not repeat it.
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The comparison table (8 October 2026)
"Not published" means we could not find the figure on the broker's site today. It does not mean the fee is zero; ask for the commission sheet before you sign.
| Broker | App | Published commission | Minimum deposit | Sahulat (CNIC only) | Roshan Digital (RDA) | Islamic option |
|---|---|---|---|---|---|---|
| AKD Securities | AKD TradePro | 3 paisa a share up to Rs 4.99; 5 paisa or 0.15% (higher) from Rs 5 | Keep Rs 1,000 in the account | Not stated | Not stated | Not stated |
| Arif Habib Limited | AHL Tick | Not published | RDA: Rs 10,000 first transfer | Not stated | Yes | Not stated |
| JS Global Capital | JS InvestPro | Not published | "Account opening from Rs 500" | Yes, digital | Yes (Roshan Equity) | Yes, Shariah mode |
| Topline Securities | Vtrade / KITS | Signed commission sheet | Rs 10,000 | Not stated | Yes | Not stated |
| Next Capital | Finqalab | Not published | Rs 5,000 | Yes | Not stated | Not stated |
| KTrade Securities | KTrade | Classic: 3 paisa up to Rs 20, 0.15% above. Premier 0.25%, Premier-I 0.20% | Not published | Not stated | Yes | Shariah stock trading |
| Foundation Securities | Foundation Edge | Edge Value: 3 paisa or 0.15% (higher). Edge Prime: 5 paisa or 0.17% | Rs 25,000 (Value), Rs 300,000 (Prime), Rs 5,000 (Sahulat) | Yes | Yes | Yes, Shariah Edge |
| Munir Khanani Securities | MMK Trade-Flair | 3 paisa up to Rs 20, 0.15% above | Not published | Not stated | Yes | Not stated |
| Alfalah Securities | — | Website shows "Coming Soon" | Not published | Not stated | Not stated | Not stated |
All nine appear on the PSX list of TREC holders, which had 283 entries when we counted on 8 October 2026.
What is the minimum brokerage commission on the PSX?
The PSX sets a floor: brokers must charge at least 3 paisa per share or 0.15% of the trade value, whichever is higher, and no more than 2.5%. The rule has applied since 14 October 2019 under PSX notice N-1258, and we found no later rule replacing it.
The two halves of the rule meet at a share price of Rs 20, because 0.15% of Rs 20 is exactly 3 paisa:
- Above Rs 20 a share, the 0.15% applies. Rs 100,000 of shares costs Rs 150 in commission at the minimum rate.
- Below Rs 20 a share, the 3 paisa floor applies, so commission takes a bigger slice. Rs 100,000 of a Rs 10 share is 10,000 shares, and 10,000 × 3 paisa is Rs 300, double the 0.15%.
So a broker that says "0.15%" is usually charging the legal minimum, and any broker charging more must say so in its schedule. KTrade's Premier tier (0.25%) and Foundation's Edge Prime (0.17%) are above the floor. AKD's 5 paisa rule from Rs 5 a share is above the floor for shares priced between Rs 5 and about Rs 33.
What else do you pay on each trade?
On top of commission, every trade carries small statutory charges. These are the same at every broker, so they never decide which one to pick. From the PSX schedule of charges (updated 18 December 2024):
| Charge | Rate | On Rs 100,000 |
|---|---|---|
| Provincial sales tax on the commission | 15% in Sindh (other provinces set their own rate) | Rs 22.50 on Rs 150 commission |
| PSX trading fee (ready market) | Rs 3.50 per Rs 100,000 | Rs 3.50 |
| SECP levy | Rs 0.65 per Rs 100,000 | Rs 0.65 |
| Capital value tax (CVT) on purchases | 0.00% | Rs 0 |
| CDC and NCCPL fees | Small; set by CDC and NCCPL | About Rs 6 in our calculator |
Some brokers also pass on yearly account charges. One broker's published schedule, for example, lists a UIN maintenance fee of Rs 200 a year and a CDC maintenance fee of Rs 400 a year (SCS Trade). Finqalab says NCCPL charges a one-time Rs 476 when you first deposit (Finqalab FAQ). Ask every broker for its full schedule, including these yearly charges, before you open an account.
Profits are taxed separately. See our guide to tax on shares in Pakistan for capital gains and dividend tax.
Which broker has the lowest minimum deposit?
Among the brokers that publish one, AKD asks the least: you only need to keep Rs 1,000 in the account to keep it active (AKD equities page, updated 20 May 2026). After that come Next Capital/Finqalab at Rs 5,000 (Next Capital FAQ) and Foundation's Sahulat account at Rs 5,000. Topline asks Rs 10,000 (Topline FAQ), and Foundation's standard Edge Value account asks Rs 25,000 (Foundation online trading).
The exchange itself sets no minimum. You need enough for the shares you want plus charges, and with the Rs 5 CDC minimum and the commission floor, very small trades lose a larger share to fees. Our guide on how to start investing in the PSX walks through a first order.
Sahulat, RDA and Islamic accounts: which brokers offer them?
A Sahulat account is a simplified PSX account that you open with only your CNIC. It has a Rs 3 million purchase limit (selling is not capped) and is for one individual, with no joint holder. You can have one Sahulat account per broker. It trades the ready market only, with no margin financing or futures, and you can convert it to a normal account at any time (PSX: Sahulat account; PSX notice N-374, April 2026). JS Global, Next Capital/Finqalab and Foundation state that they offer it.
A Roshan Digital Account (RDA) lets overseas Pakistanis buy PSX shares from abroad. Arif Habib, JS Global (as Roshan Equity), Topline, KTrade, Munir Khanani and Foundation all have RDA pages. Arif Habib's page says the first transfer must be at least Rs 10,000, of which CDC holds Rs 5,000 as a refundable security deposit (Arif Habib RDA). Our Roshan Digital Account guide covers the steps.
An Islamic option at a broker usually means the app blocks non-Shariah shares, futures and margin for you. JS Global's JS InvestPro Shariah mode and Foundation's Shariah Edge (cash only, KMI stocks) work this way, and KTrade advertises Shariah stock trading. You can also invest Shariah-compliantly at any broker by sticking to KMI-30 shares.
How do you fund the account?
Every licensed broker takes money only from a bank account in your own name, into its company client account. None accepts third-party deposits, and Topline refuses cash above Rs 25,000. Beyond that, the brokers differ in how fast money arrives:
| Broker | Funding methods published |
|---|---|
| Next Capital (Finqalab) | In-app IBFT; "instant deposit" within about 15 minutes, or a bank transfer within 1 business day |
| KTrade | Raast IBAN, IBFT, crossed cheque, pay order; linked with the HBL and Bank Alfalah apps |
| AKD Securities | Cheque or IBFT to its Meezan Bank and Dubai Islamic Bank client accounts; real-time deposits through HBL's app |
| Foundation Securities | Raast IBAN (generator on its site) |
| Arif Habib | Raast through the CDC payment gateway |
| Topline | Cheques and transfers from your own account only |
Raast and in-app transfers mean you can buy the same day. A cheque can take a day or two to clear.
App ratings on Google Play (8 October 2026)
App ratings are only one signal. They mix complaints about the market with complaints about the app, and they change week to week. As shown on Google Play on 8 October 2026:
| App | Broker | Rating | Installs |
|---|---|---|---|
| AKD TradePro | AKD Securities | 4.3 | 100K+ |
| MMK Trade-Flair | Munir Khanani | 4.2 | 50K+ |
| Finqalab | Next Capital | 3.7 | 50K+ |
| KTrade | KTrade Securities | 3.6 | 10K+ |
| AHL Tick Next Generation | Arif Habib | 3.3 | 100K+ |
| Vtrade | Topline (shared vendor app) | 3.3 | 100K+ |
| Foundation Edge | Foundation Securities | 3.1 | 10K+ |
| JS InvestPro | JS Global | 3.0 | 100K+ |
How to choose: a four-step method
- Shortlist on safety first. Start with brokers that hold a strong PACRA or VIS rating and have a clean record. Our broker ranking lists them.
- Ask for the commission sheet in writing. If it says 0.15% or 3 paisa, whichever is higher, you are paying the PSX minimum. Anything above that should buy you something, such as research or a dedicated dealer.
- Match the account to your situation. Use a Sahulat account if you only have a CNIC and plan to invest under Rs 3 million, an RDA if you live abroad, or an Islamic mode if you want the app to screen out non-Shariah shares.
- Test funding and withdrawal with a small amount. Deposit the minimum, buy one small lot, sell it and withdraw. If any step takes days or needs a phone call, you have learned something before your real money is in.
Before you install any app, read how to spot fake trading apps and scams. SECP has warned about apps that copy real broker names.
Frequently asked questions
Which is the best brokerage firm in Pakistan? No single firm is best for everyone. On published fees plus a top rating, AKD Securities stands out because it holds BMR1 and publishes its full commission schedule. JS Global and Arif Habib are also BMR1-rated but do not publish their commission online. Compare commission sheets before you choose.
What is the lowest brokerage commission in Pakistan? The PSX minimum is 3 paisa per share or 0.15% of the trade value, whichever is higher (PSX notice N-1258). Brokers cannot legally charge less, so a broker advertising 0.15% is already at the floor. Some charge more, for example KTrade's Premier tier at 0.25%.
Can I open a PSX account with Rs 5,000? Yes. Next Capital (Finqalab) and Foundation's Sahulat account publish a Rs 5,000 minimum, and AKD only asks you to keep Rs 1,000 in the account. Remember that charges take a bigger share of very small trades.
How many stock brokers are there in Pakistan? The PSX lists its trading-rights holders (TREC holders) on its website. On 8 October 2026 the list had 283 entries, but not all of them serve retail clients online. Always check a broker is on that list before you deposit.
Is my money safe if a broker shuts down? Your shares are held in your name in a CDC sub-account, and client cash must be kept separate. If a broker defaults, the PSX compensation fund pays up to Rs 1 million per admitted claimant (PSX investor protection fund).
Not investment advice. Fees, minimums and app ratings were checked on 8 October 2026 and change often. Confirm the current commission sheet and charges with the broker, and check its licence with the PSX and SECP before you open an account.
Sources
- PSX notice N-1258: minimum brokerage commission (2019)
- PSX schedule of charges (updated 18 December 2024)
- PSX: Sahulat account and notice N-374 (April 2026)
- PSX: TREC holders
- PSX: investor protection fund (CCPF)
- AKD Securities: commission structure, equities page and funds transfer procedure
- KTrade: invest in stocks (commission tiers) and bank transfer details
- Munir Khanani: commission slab
- Foundation Securities: FAQs and online trading
- Next Capital: FAQ and Finqalab: FAQs
- Topline Securities: FAQ
- Arif Habib Limited: Roshan Digital Account
- JS Global