iTrade is software based Internet stock trading service. An iTrade account provides a 24-hour connection to access to your account balances and portfolio holdings, statements, stock quotes, news and research.
Yes, if you are signed up for iTrade and have received a user ID and password from us. Please note that after signing up for iTrade, you can place trades only online.
Absolutely! When you visit the I-Trade site and provide your ID and password, your session is encrypted at the X-bit secure level - even if your browser is a Y-bit browser.
Yes! All of our trading platforms provide real time data.
The market quotes and order placement quotes are real-time for iTrade clients.
Yes! Please download our user manual here.
Any person wishing to trade on the Pakistan Stock Exchange can sign up for iTrade.
The electronic service provides valuable and timely information about your account that can help you and your Broker work more closely to reach your financial goals.
You can sign-up by filling our Account Opening Form either online by clicking the Open an Account button available at top of this page or after downloading it from here. The whole process takes just a few minutes. For further assistance, please call the iTrade Call Center @ +92 21 111 444 002
Once all documentation is completed and approved, you will be able to access your account. Trading can begin once your account has sufficient funds.
To transfer your account, you must first download the account opening form from our website or obtain one from our offices. Once the relevant documentation is complete, you can ask your existing broker to transfer your equity/securities/shares to us. Please call our Help Desk on 0800-23434 for further details.
Yes! You can open your account with shares, both Physical or in CDC.
Yes! Some of these are Market orders, Stop-Limit orders, Limit orders, Short Sell orders (for Future Contracts, as per SECP regulations).
Yes, there is a restriction on two types of orders. Short Sell orders for regular market are not allowed to be placed and also Wash Trades (executing a day trade of a particular share where buying and selling is at the same rate) are prohibited.
Yes, physical shares are acceptable at IGI Securities.
The physical shares should be in the name of Account holder. You will deposit your physical shares along with verified transfer deeds and a covering letter at our head office. AHL will transfer these shares into electronic shares through the Central Depository Company of Pakistan limited (CDC).
Whenever you will place order through online trading system, the message board view window shows the time and details of the order placement, cancellation and execution. The Margin window also shows the status of order placement through pending order, updation of custody balance in case of execution and cash balance accordingly. You can also view the details of outstanding orders as well executed transaction through your terminal.
Yes! We do not charge an extra fee to execute an order for you over the phone.
Once the trade has been completed, you will receive real time SMS confirmation and also confirmation email at end of day
Yes, you may cancel your outstanding order through all available trading channels (Software, Web-based and Mobile) or you can call us on 92 021 111-444-001, where our representative will cancel order on your request after some formal verification. Modification and Cancellation of order is disallowed during Market Pre-Open Session.
There are multiple ways to connect to your stock trading account even when your IGI Trading System is not accessible. You can either login to your account through www.igisecurities.com.pk or you can contact our customer support department at +92 21 111 444 001 or by calling our toll-free number 0800-23434. You can utilize these channels to know your portfolio, place and cancel your orders and a host of other services.
A. In case of system failure affecting orders, the customer complaints received from traders and customer support are forwarded to RMD.
B. RMD checks the orders placed on KATS.
C. In case where orders are executed, the customers are informed accordingly through respective traders / customer support.
D. In case where orders are not executed, RMD requests the IT department to cancel the pending orders.
E. Subsequent to cancellation of pending orders the customers are informed of cancelled orders through respective traders / customer support.
The customer support of iTrade is available during working hours at 111 444 001 to sort out any problems that you may face. You can call at our customer services department or email at following; UAN # +92 21 111 444 001 | firstname.lastname@example.org | email@example.com | Toll Free: 0800 23434
Yes! Our toll free number is 0800-23434 (0800-TRADE).
Clients residing outside Pakistan can send an email detailing your query to us or by dialing iTrade help line from outside Pakistan.
Opening an account is very simple.
You can call our UAN: +92 21 111-444-001, direct number 021-35309222, 021-35301697, 021-35301392 or email us at firstname.lastname@example.org or fill out an online account opening form available on our website www.igisecurities.com.pk
Our brokerage advisors will assist you and answer all your queries regarding the procedures for managing, using and monitoring your account.
Government of Pakistan (“GOP”) had imposed Capital Gains Tax (“CGT”) on shareholder.
CGT is a separate and independent tax, which has no connection with your other incomes like salary or business. It is calculated based on the profit (Capital gain) from dealing in shares. It is computed on the basis of FIFO (First in First Out) method. For intra-day trades, CGT will be computed on the basis day trade method.
The Capital Gains Tax collection and deduction is carried out by The National Clearing Company of Pakistan Limited (“NCCPL”), which has been declared a tax collecting agent under the amended law. The Calculation of CGT amount is based on the methodology used by NCCPL which is available on their website. You can get all CGT related information at http://www.nccpl.com.pk/services/gct.php or you can contact NCCPL Customer Support Helpdesk at 0800-23275.
CVT stands for Capital value tax which is charged by government. CVT rate is 0.01% will be applied on purchase amount.
SST (Sindh Sales Tax) which is charged by government. SST rate is 13% will be charged on commission amount.
A financial system is a system through which savings are directed into investments. The components of a financial system are financial markets, financial instruments and financial institutions. Therefore, a financial system facilitates the flow of resources among market participants e.g. household savings are directed to businesses through equity/debt instruments enabling businesses to raise funds for investments to increase productivity. Accordingly, households get a return i.e. dividend/interest on the amounts invested/lent out to the business.
There are two types of financial markets: capital market and money market. A capital market is one in which long term debt instruments and stocks are traded. Therefore, the capital market aids in capital formation by mobilizing savings into productive investments. Money market, on the other hand, is a market where short-term instruments are traded. Therefore, the money market primarily meets short-term liquidity requirements of the participants.
Stock exchange is an integral part of a country’s capital market as it aids in capital formation through sale of securities most notably shares. It also provides marketability of securities by providing a secondary market for trading. Hence, it’s a place where securities of listed companies can be bought and sold thereby bringing together companies and investors in one place.
An efficient and well-developed stock market is essential for economic growth and development. It facilitates productive activities by mobilizing and allocating savings for long term funding requirements of the business and industry. This in turn leads to expansion and growth of the industrial base resulting in increase in goods and services, employment, per capita income and the GDP. Hence, the stock exchange is an indicator of the economic development of the country.
Shares are the most commonly traded securities on the stock exchanges. A share represents ownership in the company and hence is referred to as an ‘equity instrument’. The amount of ownership is restricted to the extent of shares purchased. Bonds on the other hand represent the amount of funds ‘lent’ out to the company. Hence, it is referred to as a ‘debt instrument’ and entitles the holder a fixed rate of interest.
Dividends are returns on shareholding. The return is paid by the company out of its profits. This return may be in the form of cash or additional shares referred to as ‘bonus shares’. Dividends are announced by the company usually once or twice a year depending upon company policy.
A primary market is a market where securities which have never been issued before are offered to the public. This initial public offering (IPO), also called the primary issue, is therefore a transaction between the issuing company and the investor. A buyer of the initial issue may consider selling the security to another party. This transaction is done on the secondary market where the outstanding securities are traded amongst investors.
A listed company is one whose securities are listed on an exchange. The share price of a listed company is quoted and traded on a stock exchange. Unlisted company is one whose securities are not listed on an exchange. Its shares are therefore not available for trading to the general public. Private limited companies are examples of unlisted companies.
Preference shares have preference over ordinary shares with respect to dividend payments and in the event of liquidation i.e. payments are made to preference share holders before any payments are made to holders of ordinary shares. Preference shares usually carry a fixed dividend amount, are usually callable at the option of the issuing company and generally have no voting rights. They may also have an option for conversion to ordinary shares. Ordinary shares are the most common shares issued by a corporation. The ordinary or common stocks have voting rights; dividend payments vary with the company’s performance and are not callable.
In order to raise additional funding may a company issue right shares to the existing share - holders. A right issue therefore allows shareholders to buy shares of an issue before it is offered to the public usually at a discounted price. The new shares are usually issued in proportion to the existing investors holdings.
Market capitalization of a company is the product of number of shares outstanding and its price on a particular day. The market capitalization of a stock exchange is therefore the product of the total shares outstanding of the listed companies and their respective prices on a given day.
A Central Depository System (CDS) is an electronic book entry system for custody and transfer of securities. CDS was introduced to replace the manual system of physical handling and settlement of shares at the stock exchange. The CDS is managed by the Central Depository Company (CDC) which is incorporated under the Central Depositories Act 1997. Investors can open their accounts directly with CDC called Investor Accounts or open sub accounts with a brokerage firm. With the introduction and implementation of the CDS and automated trading system, trading and settlement of securities has become efficient.
COT is equity repurchase transaction. Commonly known as badla, COT is a financing arrangement whereby if a person buys shares but does not have funds to take delivery, he may enter into COT with the financier/lender. The financier agrees to buy the securities from the borrower and simultaneously sell back the same. Therefore, in a COT, the buyer in the ‘first transaction’ would become seller of the same shares in the ‘second transaction’. In other words, COT is a financing transaction involving sale/repurchase of shares.
COT market session takes place in the afternoon after the close of regular trading. The maximum transaction period is for 30 days i.e. the financier/lender cannot withdraw his funds before 30 days whereas the borrower has the right to repay the borrowed funds anytime during the contracted period. The borrower pays interest for the duration of the time the funds are borrowed. Interest is accrued on daily basis and is represented by the difference in sale/repurchase price.
There is a 10% withholding tax on dividends. For corporations the tax rate on dividends is 5%. Capital Value Tax at the rate of 0.02% is applicable on the purchase of shares. There is also a withholding tax at the rate of 0.01% on the sale of shares.
Gross Domestic Product (GDP) refers to the total rupee value of the final goods and services produced in a country during a given year. GDP is the most comprehensive measure of a country’s total output of goods and services. It is therefore the sum of monetary values of all consumption, gross investment, government purchases and net exports during a specified period.
Monetary inflows and outflows of a country are measured by balance of payments. Balance of payment is therefore a comprehensive record of all economic transactions between a country and the rest of the world during a given period. It has two components: balance of payment on current account (BPC) and balance of payments on capital account (BPCap).
BPC includes balance of trade which is the difference between the value of goods/commodities exported and imported by a country. These goods/commodities are also called ‘visible’ items. A trade surplus occurs when exports of goods exceed its imports. Trade deficit is the excess of import of goods over its exports. In addition to balance of trade, BPC also includes the import and export of services for which payments have to be made or received. For example shipping, financial services, foreign travel etc. These items are referred to as ‘invisible items’ of balance of payments. If the value of visible and invisible receipts is greater than the value of visible and invisible payments, there is a surplus of balance of payments on current account and vice versa. BPCap includes capital movement between countries i.e. loans that private citizens or governments make to or receive from foreign private citizens or governments.
The overall balance of payment of a country is therefore the total of balance of payments on current and capital account.
A budget for a given year shows the planned expenditures of government programs and the expected revenues from taxes. Budget surplus occurs when taxes and other revenues exceed government expenditures. On the other hand, if expenditures exceed revenues, there is a budget deficit.
Fiscal policy refers to government’s taxation and spending policy with the aim of maximizing national income, output and employment. Monetary policy refers to the regulation of money supply and interest rates by a Central Bank to control inflation and stabilize the currency. It is aimed at influencing the availability and cost of funds which is used to finance economic activity.
When government expenditure exceeds receipts from the public, the government resorts to borrowing to cover the gap. This is called deficit financing and is used to stimulate economic growth. For example, in the absence of effective demand, the government may increase spending on public works, meeting the expenditure through borrowings rather than increased taxes. As government investment increases, the level of national income and employment also increase. Deficit financing therefore results in increase in money supply and purchasing power resulting in increase in prices. As prices increase, entrepreneurs’ profits increase, inducing investment in the private sector. Hence, deficit financing can stimulate economic activity in both public and private sector
Trading margin limit are assigned according to client available equity (Cash & custody) in forward market, and trading in ready market only on cash basis.
You can place and execute orders by signing up your online trading terminal by using your user ID/Password or you may our call customer support department UAN +92 21 111 444 001 to place and execute order.
Once the trade has been completed, you will receive confirmation via email not later than the start of the next trading day after the contract was entered into. Orders placed through telephone will also be confirmed via email.
You must keep at-least 50% margin against your outstanding positions in forward market for the purpose of trading in your account. This margin may be kept in the form of cash and securities (at the reduced value).
Margin call can be simply explained as a message sent to the client when his/her margin deposit falls below 45% of his exposure. Margin calls are sent to client via email.