Best brokerage account for beginners in 2024

What is a brokerage account?

A brokerage account is an investment account that can be used to buy stocks in a stock market. In Pakistan stock exchange (PSX) the best brokerage account for beginners is the Sahulat account in Pakistan Stock Exchange.

Are you a beginner and looking for online trading website to step in to the Stock Market? For beginners in trading, investment in Pakistan Stock Exchange is the best platform to get started with the online trading in Pakistan. Stock market provides the safe and most reliable investment platforms, which has a history of generating enormous amounts of profits with time.

According to a 21st century successful investor and Billionaire:

The stock market is a device for transforming money from the impatient to the patient.

~Warren Buffet

To start your investment journey with Pakistan Stock exchange(PSX), there are two types of brokerage accounts for an individual investor. Sahulat Account and Normal account. Some of the pros and cons of Sahulat account in PSX are discussed below:

Pros and Cons of opening Sahulat Account (Brokerage account for beginners):

  1. Account opening within 48 hours with simple documentation (CNIC, Back account, Proof of Address).
  2. Invest up to 1 million rupees (10 lac PKR). You cannot invest for more than 1 million (10 lac rupees) in this brokerage Account (Sahulat account).
  3. In Sahulat account, there is no requirement for providing the proof of income for brokerage account opening. Therefore, it is the best option for housewives, students, small investors, etc.
  4. There is no option for a nominee in Sahulat account. It means you will have to manage your portfolio on your own.
  5. You will not be allowed to trade in the future markets. So, you will be limited to the regular and odd lot market in Pakistan Stock Exchange.
brokerage Account in PSX

Conclusion

Sahulat account in Pakistan stock exchange provides a beginner friendly experience to the investors. It can provide the taste of stock investment with the ease of your home. Pakistan stock exchange is one of the best online trading platforms in Pakistan for beginners in stock trading.

Learn more about Pakistan Stock Exchange.

Online Trading software

Kits software is the online trading software platform for Pakistan Stock Exchange (PSX) developed by Catalyst IT Solutions. Below is the tutorial video of how to install the desktop application of Kits Software. For mobile users, the online trading software is also available on the Android Play store and Apple App store.

Kits Software installation tutorial, developed by Catalyst IT Solutions.

Frequently Asked Questions

  1. Can I trade in PSX without the internet service?
    a. Yes, if your internet is not working, don’t worry. Just call to your assigned trader and we will execute your trade on your behalf.
  2. Is Margin/Future trading possible with Sahulat account?
    a. No, Sahulat account can only be used for trading in the regular market.
  3. What is the minimum amount required to open account in Pakistan stock exchange?
    a. You can open account by depositing 5000 rupees (PKR). However, you can invest as low as 1 rupee in Pakistan Stock Exchange to buy the shares.
  4. Is it possible for online trading without investment?
    a. No, it is not possible to trade online in Pakistan Stock Exchange (PSX) without investment. However, you can make a demo account in PSX and enjoy trading without investment.

Leave a Comment

Scroll to Top
×