How to Open a PSX Trading Account with KTrade, Next Capital, MRA, Standard Capital and MMAKK

KTrade, Next Capital, MRA Securities, Standard Capital Securities and MMAKK Securities are five Pakistan Stock Exchange (PSX) brokers that sit between the big full-service houses and the newest apps. Some lean on a mobile-first signup, others still ask for a printed form and a biometric visit. This guide explains the shared PSX process once, then what is specific to each firm, so you can pick the route that fits you.

In this guide: shared process · at a glance · KTrade · Next Capital · MRA Securities · Standard Capital · MMAKK · documents · how to choose · FAQ

How this page was prepared. The PSX process was checked against PSX’s account-opening guidance and SBP’s Roshan Equity Investment page on 26 October 2026. Broker-specific details come from each firm’s public website as recorded in our earlier individual guides (July to September 2026) and were not re-verified line by line. We left out user-count and account-growth claims we could not confirm independently. Fees, minimums and routes change, so confirm with the broker first. This is general information, not investment advice.

How every PSX account is opened

Whichever broker you choose, you end up with:

1. A brokerage account with a PSX trading-rights-certificate (TREC) holder.
2. A UIN, the Unique Identification Number issued by NCCPL, which links your trades to you.
3. A CDC sub-account (or investor account) that holds your shares electronically.

Brokers on PSX’s online account-opening list follow this sequence:

1. Submit your CNIC, NICOP or POC number, an IBAN, an email address and a mobile number.
2. Enter the one-time password NCCPL sends to verify you.
3. Complete the electronic form, accept the terms and upload documents.
4. The broker registers your UIN and opens your trading and CDC accounts.
5. You receive confirmation and acknowledge it to NCCPL where the broker asks.

Brokers that have not enabled this flow use a paper form plus biometric verification at a branch or NCCPL office. PSX advises funding by cheque or bank transfer rather than cash.

The five brokers at a glance

Broker	Main route	Notable detail	Official site
KTrade (KASB)	Fully online through app or website, or CDC’s Asaan Connect gateway	Free virtual account with PKR 1 million of demo capital	kasb.com
Next Capital	Online; WhatsApp and UAN help to find the right link	Separate trading app (Next Advantage) and stock-tracking app (i-invest)	nextcapital.com.pk
MRA Securities	Listed for online opening; limited public detail on its own portal	Confirm the current route through the PSX broker directory or by phone	PSX directory
Standard Capital	Printed form plus mandatory biometric verification	Minimum deposit PKR 25,000; PMEX commodities desk	scstrade.com
MMAKK	Downloadable equities form, emailed or submitted at a branch	Online form for commodities; branches in five cities	munirkhanani.com

KTrade Securities

KTrade (formerly KASB Securities) is built around a beginner-friendly app and offers both practice and real trading in the same place.

Online signup:

1. Download the KTrade app from Google Play or the App Store, or open KTrade’s account-opening form on its website.
2. Enter your 13-digit CNIC, an IBAN from a recognised commercial bank, an email address and a mobile number in your name. KTrade states that IBANs from JazzCash, NayaPay, Easypaisa and SadaPay are not accepted.
3. Upload documents:
   • Salaried: CNIC front and back, latest salary slip, latest bank statement showing the salary credit, and signature proof.
   • Business owners: CNIC front and back, a business undertaking on letterhead, two months of bank statements and signature proof.
4. Submit. KTrade says opening your PSX and CDC accounts typically takes about two days once documents are complete.

Alternative: Asaan Connect. KTrade also accepts applications through CDC’s Asaan Connect gateway: enter your details, upload documents, accept the disclosures and submit.

Practise first. Choose the virtual account option on the app’s signup screen, enter your name, email and phone, and trade with simulated funds. KTrade offers PKR 1 million of demo capital, a sensible way to learn order types before using real money.

Pricing. KTrade has published tiered commissions, quoted as a per-share minimum or a percentage of trade value, whichever is higher. Rates change, so ask for the current schedule in writing.

Help: UAN 021-111-115-272 · info@kasb.com

Next Capital

Next Capital was incorporated in 2009 and listed on PSX in 2012, and works with both retail and institutional clients.

Opening an account:

1. Visit nextcapital.com.pk and find the online account-opening option. If you cannot find it, call the UAN or WhatsApp number below and ask for the current link.
2. Submit your CNIC/NICOP/POC number, IBAN, email and mobile number.
3. Enter the NCCPL OTP.
4. Complete the form and upload documents.
5. Next Capital registers your UIN and opens your trading and CDC sub-accounts.

Apps and tools:

• Next Advantage: the main trading app (Android and iOS)
• i-invest: a stock-tracking app for following the market
• Desktop terminal for those who prefer a full screen
• KATS trading room for corporate clients and high-volume execution

Overseas Pakistanis: select Next Capital as your brokerage when you set up Roshan Equity Investment through your RDA bank’s portal.

Help: UAN 021-111-639-825 · WhatsApp 0314-6398227

MRA Securities

MRA Securities Limited is a Karachi brokerage incorporated around 2000-2001, focused on retail equities, with a head office and several branches in the city. It is on PSX’s list of brokers offering online account opening.

MRA publishes less about its own digital onboarding than some peers, so verify before you start:

1. Search for MRA Securities in PSX’s list of TREC holders to get its current contact details and branch addresses.
2. Call or visit a branch to confirm whether online opening is active and to get the direct link.
3. If it is, follow the shared online process above. Otherwise it will be a paper application with identity verification.
4. Ask about requirements for your situation: salaried, business owner or non-resident.

Standard Capital Securities

Standard Capital Securities is a Karachi brokerage for equities and commodities, including a Pakistan Mercantile Exchange (PMEX) desk. Although it appears on PSX’s online-opening list, its own website documents a physical-form process for equities.

1. On scstrade.com, open the “Open An Account” section under Online Trading.
2. Download the Single Account or Joint Account form. The site notes that the filled PDF cannot be saved, so printing the blank form first is simplest.
3. Print, fill in by hand and sign so the signature matches your CNIC.
4. Send the form to the office listed on the site (Park Towers, Clifton, Karachi at the time of writing).
5. Complete biometric verification, required for every account holder, at a Standard Capital branch or an NCCPL office.
6. Contact the relationship manager listed on the site to arrange the biometric step and check your application status.

Requirements: valid CNIC; for business applicants a tax return or six-month bank statement; for salaried applicants a current salary slip; employer or business visiting card for address checks; a Zakat CZ-50 affidavit if you want non-payable Zakat status; minimum deposit of PKR 25,000.

Platforms: mobile apps for iOS and Android, a MetaTrader 5 desktop platform with market depth and several order types, and a PMEX mobile app for commodities.

Help: account-opening support ssalman@scstrade.com, 0307-1-727-727 (9 AM to 5 PM).

MMAKK Securities

Mohammad Munir Mohammad Ahmed Khanani Securities Limited, founded in 1998, is a Karachi-headquartered brokerage with branches in Karachi, Lahore, Islamabad, Peshawar and Hyderabad.

Equities (downloadable form):

1. Download the Account Opening Form for Equities from munirkhanani.com.
2. Complete it with your details, CNIC information and signature.
3. Attach your CNIC/NICOP/passport copy and proof of income or business.
4. Submit at a branch or email scans to support@munirkhanani.com, then follow up with your branch or relationship manager.
5. Complete any biometric or identity verification, which may need an office visit.

Commodities (online form): MMAKK offers an online account-opening form for PMEX commodities. Fill it in, upload your ID and income documents, and wait for confirmation from the commodities desk.

Online route for equities: as a listed online-opening broker, MMAKK may also support the shared NCCPL process. Ask its customer facilitation team which route is active for equities today.

After opening: client login for your statement of account, an analytics login, a fund-deposit system and the TradeCast platform on mobile and desktop.

Help: support@munirkhanani.com · 021-36490034

Documents checklist

• Valid CNIC, NICOP, POC or passport (attested copies where requested)
• Proof of income: salary slip plus bank statement, or business letterhead and statements
• An IBAN in your own name from a recognised bank (KTrade excludes some wallet-style IBANs)
• Mobile number and email registered in your name
• Signature proof, and proof of address if it differs from your CNIC
• Zakat declaration, or an affidavit if you are non-Muslim

How to choose between them

If you want to…	Look at
A fully app-based signup and a practice account	KTrade
Separate trading and tracking apps	Next Capital
A paper-based process with a branch to visit	Standard Capital, MMAKK
A PMEX commodities desk alongside equities	Standard Capital, MMAKK
A broker in a smaller city	MMAKK (five-city branch network)
Roshan Equity Investment from abroad	Next Capital, or any broker your RDA bank lists

Ask every broker for its commission schedule, CDC and other charges, minimum balance rules and the exact platform you will use. If you want large full-service firms instead, see our guide to AKD, JS Global, Arif Habib, BMA and Foundation.

Frequently asked questions

Is an online application always possible? No. PSX lists brokers that support online opening, but a broker’s own site may still direct you to a paper form, as Standard Capital’s does for equities. Ask before you start.

What is biometric verification? It is an in-person fingerprint check, usually at a broker’s branch or an NCCPL office, used when an account is not opened through the remote OTP process.

Can overseas Pakistanis use these brokers? Through Roshan Equity Investment, a non-resident with a Roshan Digital Account can choose a broker, accept the terms, fund the account, and gets a trading account, UIN and CDC custody account, according to SBP. Check that your RDA bank supports your chosen broker.

Can I trade commodities as well as shares? Standard Capital and MMAKK both have PMEX commodity desks with separate account-opening steps.

Related guides

• Full-service brokers: AKD, JS Global, Arif Habib, BMA and Foundation
• How to open a Roshan Digital Account with HBL, MCB or Meezan
• Pakistan Stock Exchange for beginners
• How the IPO process works on PSX
• How Pakistanis can trade on the NYSE
• Start Here: a guide to PakGains

Sources: PSX: Open an account and invest, SBP: Roshan Equity Investment, PSX: list of TREC holders. Broker websites: KTrade, Next Capital, Standard Capital, MMAKK.