Trading Limits:

  • 100% margin is required for delivery based orders in IBTS
  • 33% margin is required for futures orders in IBTS
  • Cash Margin as per regulation of MTS and MF is required for order placements in IBTS.

Time and Reporting of Order Confirmation:

The Trade Confirmations are sent to clients on daily basis.

Margin Deposits:

The Account Holder(s) is/are required to deposit and maintain a minimum 30% margin against his/her/their outstanding trades/exposures for the purpose of trading in his/her/their account. The Account Holder(s) shall be responsible to ensure that the margin shall be either in cash or in Securities approved by the Broker (BMA Capital Management Limited) or a combination of both for the purpose of margin deposit, which are in a state and form whereby they can be marketed, delivered and transferred. The account Holder(s) undertake(s) to comply with the directions of the Broker for regularization of the revised margin requirements. This is without prejudice to the Broker’s right to call additional amount or Securities as margin within 1 (one) business day and to liquidate the Account Holder(s) outstanding positions as mentioned in Clause 6 and 8 of the Special terms and Conditions appended in the Account Opening Form. The Account Holder(s) acknowledges and understands that his/her/their losses may be more than the actual account size and he/she/they is/are willing to accept such degree of risk.

  • 100% margin is required for delivery based orders in IBTS
  • 33% margin is required for futures orders in IBTS
  • Cash Margin as per regulation of MTS and MF is required for order placements in IBTS.


Order Execution Cycle:

Order placed by the investor through desktop, mobile or web based interfaces are first evaluated at broker’s end. Broker records the order and verifies the margin and cash requirements. If order is within the defined limits it is forwarded to Exchange, otherwise, order is rejected and a rejection message is sent back to client. If order is pushed to stock exchange, it queues the order in respective security book and send a confirmation of receiving the order. The order confirmation is recorded in the broker’s database and forwarded to the investor’s terminal (in case of web terminal, investor may need to refresh his page to view the order confirmation). Only when confirmation from exchange is received, it appears in Outstanding order view as a pending orders.

If order is get traded in stock exchange, an execution confirmation is sent to broker. Broker record the execution and forwards it to investor’s terminal as well. On receiving the execution confirmation, a trade record appears in the transaction list and outstanding volume of the pending order is reduced by the trade volume.

If order is completely executed it is removed from the outstanding orders window.

If the link between investor machine and broker servers or the link between broker’s server and stock exchange is broken, the order or execution confirmation may not be received at the terminal. In most of such cases reconnecting the terminal and refreshing the order book and trade book updates the client position, otherwise, the investor should call to brokers call centre for verification.

In case of system failure, orders may be cancelled by calling the help desk.

Risk Associated with Online Trading:

All risks connected and involved with Electronic/Online Trading will be assumed fully by the client. Electronic/Online Trading 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/ortechnical glitches/failures (including but not limited to connectivity failures). Neither the Broker not any of its Directors or officers, its management, its branch offices, office 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 including those due to the misuse of client information and affairs by unscrupulous person(s). Alternatively; in failure of Electronic/Online Trading orders can be placed via the KATS Terminal.

The Broker may, from time to time at the request of the client or of its own volition, provide to the client information relating to investment opportunities in the market and/or of a financial/economic nature. The Broker however does not guarantee the accuracy/veracity/reliability of such information. Any steps or instructions issued by the client, in reliance of such information, shall be deemed to have been unilaterally taken/issued by the client at his/her/their sole risk and responsibility in respect of the consequences emanating there from. The decision to sell or purchase any Securities or to make any investments or disinvestments, shall be deemed to have been made only by the client based on his/her/their own acumen and judgment, without any representation or assurance from the Broker as to its profitability or viability.

Arbitration Procedure:

In case any dispute in connection with the trade or transaction between the Broker and the Account Holder is not settled amicably, either party may refer the same to arbitration in accordance with the provisions of PSX Regulations, which shall be binding on both the parties. The Account Holder hereby agrees that he would have no objection if his name and other relevant particulars are placed on Exchange’s database accessible by Brokers of the Exchange if he fails or refuses to abide by or carryout any arbitration award passed against him in his dispute with the Broker.

Investor Complaints:

ICONS here

PSX Complaint Lodging Procedure Investor Complaints (SECP) Contact our Customer Support


Investor Education (SECP):

Link to this page https://www.secp.gov.pk/media-center/guide-books/general-guide-books/



What documents should you have to be a BMA Trade Account Holder account Holder? Valid Computerized National Identity Card (either NICOP, CNIC) Copies of CNIC for joint or nominees if any and copies of CNIC referees

How Can I open my account?

Request BMA Trade to send account opening form or fill the account opening form available at BMA Trade’s website, duly sign off and send to BMA Trade Customer Services at BMA Trade Head Office Karachi along with ; Relevant account opening documents and PO/DD/ local bank’s cheque in favor BMA Capital Management Limited or CDC Transfer Order in favor of BMA Trade. Attested Copies of CNICs

  1. Account Holder
  2. Joint Account Holder (if any)
  3. Nominee (if any)
  4. Witnesses


Other documents

  1. Power of Attorney
  2. Zakat Declaration


How Can I Trade?

You will be couriered a BMA Trade Trading Terminal CD for java based desktop application or use BMA Trade web portal for order execution or alternatively you may also call on +92 21 111 262 872 or drop email at bmatrade@bmacapital.com

How Can I Withdraw Funds and Shares?

You can use your terminal and initiate payment request or email us or send a letter requesting payment against your account balance to BMA Trade Customer Support. Similarly in case of share transfer write letter to BMA Trade Customer Services and your shares will be transferred as per CDC regulatory framework upon you instructions

How Can Client contact Customer Services?

Clients residing either within or outside Pakistan can send an email at bmatrade@bmacapital.com detailing your query to us or by dialing +92 21 111 262 872 from outside Pakistan.

Clients already have a CDC Investor’s A/C, what is the procedure to transfer shares from CDC Investor’s A/C to my BMA Trade’s Account You will have to provide a CDC cheque (Transfer Order) in favor of “BMA Capital Management Limited”, our participant ID is 01826. Submit the cheque directly in the CDC and send us a copy of the cheque stating your BMA Trade user ID for follow up. As soon as your shares are received your BMA Trade account will be updated.

Can we have access to BMA Research?

Yes! BMA Trade clients can have direct access to BMA’s web research portal, as well as BMA emails its research and break outs to all clients on their registered email address. Are there any other charges other than Trade Commission? Yes! Besides Trade commission you will be charged with .03% of value of shares as a custody charges to your accounts and that amounts to Rs.30/- on account of 100,000/- per and monthly comes to Rs. 2.5/-.

Can my account be refused to be opened?

Yes, BMA Trade reserves the right to refuse any account without assigning any reason.

Where do I send my deposits and correspondences?

You may send your cheque / Pay order/DD clearly crossed in favor of “BMA Capital Management Limited” by mail or drop it personally at BMA Capital’s office NO CASH is accepted by us or alternatively you can directly deposit same into Bank Alahabib’s any designated branch, for all sort of correspondence please write to following address; BMA Trade Customer Services

Level 8, Unitower, I.I.Chundrigar Road, Karachi.

How can I get my queries resolved?

You can call at our customer services department at +92 21 111 262 872 or send us an email atbmatrade@bmacapital.com or by filling out an investor feedback form here.