Online Trading

internet trading guide

What is an Internet trading account?

An Internet trading account is a special type of account designed specifically for individual investors who prefer to use the Internet to place their orders themselves rather than through the broker by telephone.

Internet Trading vs Broker Trading

Online Trading allows investors to place orders on their own through the internet without having to call up a broker and place an order through them. Online trading gives investors greater control over their decisions. They can view real time market activity from anywhere they wish. A single keystroke or click-of-a-mouse executes a buy or sell order. Also, when the order has been completed you receive an instant confirmation of your trade via SMS and daily transaction summary email on day end.

What is Web/Trading Terminal of EFG Hermes Pakistan?

Web/Trading Terminal is a web/software based internet stock trading service provided by EFG Hermes Pakistan. A Web/Trading Terminal account provides, in addition to trading, access to your account balances, statements, research, portfolio holdings and stock quotes from 9:00 am till 6:00 pm.

Who can Signup for an EFG Hermes Pakistan account?

Any Investor who wishes to trade on the Pakistan Stock Exchange Limited can sign up for an EFG Hermes Pakistan account.

How can I Open Account/Signup for EFG Hermes Pakistan?

First you have to open an account with EFG Hermes Pakistan. You can download our Account Opening Form from our website Account Opening Forms are also available at the EFG Hermes Pakistan Head Office and at all branches. You can also write us a letter or email for account opening form. Our email address is info@efg-hermes.com

Attach the following documents with the duly completed and signed Account Opening Form in order to complete the Account Opening process:

INDIVIDUALS
  • Attested copies of CNIC/NICOP/PASSPORT (in case of non-resident) of account holder/joint holder(s)/nominee(s) (as the case may be).
  • Authorization letter/Power of Attorney from the Account Holder(s) on the prescribed format (if applicable).
  • Zakat Declaration of the account holder and joint holder(s) (if applicable).
  • Attested copy(ies) of NTN Certificate(s).
  • Proof of Employment/Business.
  • Any other information/document that may be required.
  • Form(s) must be completely filled (in BLOCK letters)/signed/ attested (as and where applicable).
  • Where the Applicant is a non-resident or foreigner, duly consularized Form(s)/Power of Attorney and other documents by the Consul General of Pakistan having jurisdiction over the Applicant(s) should be submitted.
CORPORATE ENTITIES
  • Certified copy of Board Resolution/Power of Attorney (specimen of Board Resolution is attached as Annexure A).
  • Attested copies of CNICs/NICOPs/Passports of the Authorized Persons / Signatories/Directors/Partners/Trustees (as the case may be).
  • Certified copies of Constitutive Documents of the Applicant (Memorandum & Articles of Association, Act/Charter/Statute/Bylaws/Rules & Regulations, Certificate of Incorporation, Certificate of commencement of business, relevant licences and registrations issued by regulatory bodies etc.).
  • Certified copy of NTN Certificate.
  • Certified copy of lists of Authorized Persons/Signatories (with signatures) & Directors/Partners/Trustees (as the case may be).
  • Certified copies of Forms/Information registered with the relevant competent authority for appointment of Directors/CEO/Partners/Trustees (as the case may be).
  • Any other information/document that may be required.
  • Form(s) must be completely filled (in BLOCK letters) /signed/ attested (as and where applicable).
  • Where the Applicant is a non-resident or foreign company/entity, duly consularized Form(s)/Board Resolution/Power of Attorney along with Constitutive Documents, List of Directors/Trustees and other documents by the Consul General of Pakistan having jurisdiction over the Applicant should be submitted.

Note:

  1. Carefully read and sign off the Account Opening Form including special terms & conditions for online trading and declaration.
  2. Attach A/C Payees cheque and or securities deposit request (valued after applying haircuts as per the Company policy) of at least PKR 50,000 in favor of "EFG Hermes Pakistan" (only applicable in case of Individual Clients).
  3. The duly filled and signed Account Opening Form and CDC Sub-Account Opening Form (where required) and the necessary documents and cheque should be submitted.

Is account information on EFG Hermes Pakistan Secure?

Absolutely! When you visit the EFG Hermes Pakistan site and provide your ID and password your session is encrypted.

Is an Email address necessary to open an account with EFG Hermes Pakistan?

Absolutely! All trade confirmations, margin calls, and other correspondence will be sent at your e-mail address which you provide us, if opted. Further, e-mail address is compulsory for clients who opt for online trading.

Is there any registration fee or annual fee?

There is no such fee at EFG Hermes Pakistan. However, there are CDC Sub-Account, custody and UIN charges of CDC and NCCPL.

When can I start placing orders?

Once the account has been opened and the funds have been received, your account will be activated and you will be able to place an order yourself.

When is the minimum amount required for opening an account?

Minimum amount required to setup an account is 25,000.

Is there a time limitation for my access to the market data?

Market data is available from 9:00 am to 6:00 pm.

Is there help available to understand the trading system?

Yes, we have uploaded a Demo on our website. We also provide/dispatch an abridged form of user manual in our Welcome Package. In addition, professional and courteous EFG Hermes Pakistan officers are available from 9.00 AM till 5:30 PM, at the EFG Hermes Pakistan Customer Support Desk in this regard.

What is source of information displayed to clients (ticker/quote etc.)?

These information are of Pakistan Stock Exchange Limited.

Is there any Service Level agreement and infrastructure provided by third party vendor?

The Company has in house operations. Software used for Internet/Online Trading is obtained from Softech Systems (Private) Limited (please click to view agreement). Further, the Company has availed connectivity from Cyber Internet Services (Private) Limited(please click to view agreement) and Multinet Pakistan (Private) Limited (please click to view agreement).

Can I trade bonds?

At present this facility is not available.

How can I close my EFG Hermes Pakistan account?

You will need to write a letter addressed to EFG Hermes Pakistan requesting the closure of your account. If you have any debit balance you will be required to clear it first. In case of a credit balance and securities in your account, the securities shall be transferred to your account provided by you and crossed cheque of the amount available, after settlement, will be issued.

Do I have to fill an application to receive real-time data?

This service is available to customers having online trading account.

Which Operating System I should Use?

EFG Hermes Pakistan Trading Terminal requires Windows XP, Vista, 7.

Which Version of Internet Explorer or other browsers should I use?

Any Internet Browsing Software can be used. The software is not dependent on the Browser. However, it is dependent on the speed of your Internet connection.

I can't login. Error message shows “Connection failed”, what should I do?

Connection to our server may fail because either our server is down due to some technical reasons or for general/periodic maintenance or because you are behind a firewall. Change your firewall settings to allow the software to access the Internet. Similarly, if you are using a Local Area Network (LAN) connection, you may need to open certain ports (TCP/IP). If you still cannot connect, feel free to call us at (+92 21) 35141100-04.

In which manner orders are accepted, processed, settled and cleared via the internet?

Orders are placed by using F4 key for buy and F5 key for sale. Enter Symbol, quantity and rate (buy or sell) and executive the trade. When you place or cancel an order or your order is completed then message window of trading terminal provide your complete details. In addition, margin window also shows your orders, pending orders, cash balance etc. Executed trades are settled through NCCPL.

How can I place or cancel my orders, in case of failure to access my online account?

You can call to your respective equity trader/relationship manager or in case of his absence you may call to our customer support representative at (+92 21) 35141100-04.

What are the risks involved in Electronic/Online Trading?

Electronic/Online Trading contain many risks and may from time to time be adversely affected (inter alia) by network congestion, equipment failure, software failure, system breakdown, loss of connectivity, power failure, adverse market conditions, partial execution of order and /or technical glitches/failures (including but not limited to connectivity failures). Neither the Broker nor any of its directors or officers, its management, its branch offices, offices of supervisory jurisdiction and their respective registered representatives and employees, would be responsible or liable in any manner for any losses or damages that may be suffered by the client(s) including those due to the misuse of the Account Holder(s) information and affairs by unscrupulous persons. The client(s) shall fully assume all risks connected and involved with Electronic/Online Trading. The client(s) shall represent that they are knowledgeable investor(s) and that they have conducted analysis and consulted with professionals as they deemed necessary in order to fully understand the risk involved in online trading and that they are financially suitable for engaging in such trading activity.

What is URL of Capital Markets Guidlines?

Please click here

Where can I find information about Investors and Shareholders Rights?

Please click here