Buying PSX-listed shares can involve more than the share price: expect broker commission, applicable exchange and clearing-related levies, and applicable taxes or duties. There is no single fee or tax rate for every investor. Ask your broker for the written tariff that applies to your account, and check tax rates against both your investor category and the date you acquired the securities.
What costs can appear on a PSX share trade?
Separate the charges into categories rather than treating them as one universal “PSX fee.” The broker’s tariff should identify commission, applicable market and regulatory levies, and statutory taxes or duties. Which charges apply, and their amounts, depend on the broker’s current schedule and the transaction.
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Broker commission
Commission is set out in the broker’s customer tariff; do not assume that every broker uses the same rate or fee basis. The Pakistan Stock Exchange (PSX) Investor Awareness Guide says brokers must provide customers a tariff schedule annexed to the Customer Relationship Form (CRF) or Sahulat Form. Ask for that schedule before placing an order, and check whether it specifies a percentage, a fixed amount, or a minimum charge for both purchases and sales.
Exchange, clearing and regulatory levies
PSX’s tariff disclosure identifies applicable levies associated with PSX, the Central Depository Company (CDC), the National Clearing Company of Pakistan Limited (NCCPL), and the Securities and Exchange Commission of Pakistan (SECP). These are separate categories from broker commission. PSX’s investor guide describes CDC as supporting share delivery and NCCPL as supporting clearing and settlement.
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Government taxes and duties
The broker tariff must also disclose applicable federal and provincial government taxes and duties. Their application depends on the transaction and the rules in force. Use the tariff and official tax information relevant to the trade date rather than assuming a figure in an older article still applies.
Account-level charges
Account maintenance, inactivity, custody, or minimum-balance charges are not established as universal charges across PSX brokers. Check the broker’s written tariff for recurring or conditional fees, including any CDC or NCCPL schedule it references.
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How to find the actual cost of your trade
Use the schedule that applies on the date of the trade, then reconcile it with the broker’s confirmation. PSX says brokers must furnish their tariff at account opening, notify customers in advance of changes to their commission tariff, and provide separate notification requirements for changes to regulatory and statutory tariffs.
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1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minute- Before opening an account: request the current tariff attached to the CRF or Sahulat Form. Confirm buy-side and sell-side commission, any minimum, recurring account charges, and which levies or taxes may be passed through.
- Before placing an order: use that tariff to ask what charge categories apply to the specific transaction. If comparing brokers, use the same hypothetical purchase and sale amount for each.
- After execution: check the trade confirmation. PSX says it should arrive within 24 hours and show commission, applicable regulatory levies, and applicable taxes and duties.
- If a charge is unclear: compare the confirmation with your order and the tariff effective on the trade date. Ask the broker for an itemized explanation and your account ledger before trading again; retain the confirmation.
PSX lists a schedule of charges updated December 18, 2024 and a revised technical service charge schedule effective July 1, 2026. NCCPL’s downloads page lists a fee, charges, and deposits schedule dated January 8, 2026. These are official schedule listings, not a substitute for the customer-specific broker tariff or a complete estimate of your trade cost.
How to compare brokers fairly
Compare the same transaction under each broker’s written schedule. A low advertised commission alone does not show the full cost if minimums, recurring charges, or pass-through levies differ.
| Compare | Ask |
|---|---|
| Commission | Is it percentage-based or fixed? Is there a minimum? What applies to buys and sells? |
| Regulatory and market levies | Which applicable PSX, CDC, NCCPL, or SECP charges are passed through, and how are they itemized? |
| Account or custody charges | Does the current tariff list recurring, inactivity, maintenance, or other account-level charges? |
| Taxes and duties | Which statutory charges apply to the example transaction under rules in force on its trade date? |
| Disclosure and support | Will the broker provide the tariff in writing and itemized confirmations after trades? |
Capital gains tax depends on when you acquired the shares
NCCPL’s Tax Year 2027 table distinguishes PSX-listed securities by acquisition-date band and taxpayer category. For securities acquired on or after July 1, 2024, the table displays a 15% rate for individuals and associations of persons on the ATL basis, and 30% on the non-ATL basis. These figures apply to that stated acquisition-date band and those taxpayer categories; they are not universal PSX capital gains tax rates.
The table has separate treatment for securities acquired in older date bands and shows distinct company rates. Do not apply the post-July 1, 2024 figures to older holdings or to companies. Check NCCPL’s current Tax Year 2027 table for the relevant acquisition date and taxpayer category, and consult your CGT certificate or a tax adviser about your own position. Tax tables can change when legislation changes.
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Dividend withholding tax: check the current FBR row
The Federal Board of Revenue (FBR) lists a Tax Year 2027 withholding rate card updated through June 30, 2026 under Finance Act 2026. Check its dividend row for your investor type and tax status before relying on a rate; do not reuse an older figure or assume one rate applies to everyone.
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What to keep for your records
- Your CRF or Sahulat Form and the tariff schedule provided with it.
- Trade confirmations showing commission, applicable levies, and taxes or duties.
- Relevant account statements, tax documents, and the acquisition dates for your securities.
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