PSX trading fees and charges: what you pay on each trade
Every fee and charge on a share trade on the Pakistan Stock Exchange: brokerage commission, PSX, SECP, NCCPL and CDC fees and sales tax, with a worked example and links to the official schedules.
By the Nafa team · Updated · 4 min read
Every time you buy or sell a share on PSX, four organisations charge a fee: your broker, the exchange (PSX), the clearing company (NCCPL) and the depository (CDC). The government adds sales tax on some of them.
Apart from the broker's commission, these charges are set by PSX, NCCPL, CDC and the regulator, and they are the same whichever broker you use.
Brokerage commission
This is usually the largest charge. PSX sets the range a broker may charge:
| Share price | Minimum | Maximum |
|---|---|---|
| Rs 0.01 to Rs 20 | Rs 0.03 per share | 2.5% of the trade value |
| Rs 20 and above | 0.15% of the trade value | 2.5% of the trade value |
Within that range, each broker sets its own rate. In the Nafa app, the commission and the other charges on a trade are shown before you confirm the order.
PSX fees
PSX charges two fees on each trade, both quoted per Rs 100,000 of trade value:
- Trading fee: Rs 3.50
- Regulatory fee: Rs 0.62, reviewed from time to time by the SECP
SECP levy
The securities regulator charges 0.00065% of the trade value: Rs 0.65 on a Rs 100,000 trade.
NCCPL clearing fees
NCCPL settles the trade and charges two small fees per Rs 100,000:
- Trade fee: Rs 0.81
- SECP fee: Rs 0.30
CDC transaction fee
CDC records the transfer of the shares and charges 0.0036% of the trade value, with a minimum of Rs 5 and a maximum of Rs 25,000. It is worked out on the closing price and charged on both the purchase and the sale.
Sales tax
Sales tax is charged on the brokerage commission and the PSX trading fee, at your province's rate:
| Province | Rate |
|---|---|
| Sindh | 13% |
| Punjab | 16% |
| Khyber Pakhtunkhwa | 15% |
| Balochistan | 15% |
| Islamabad | 16% |
The tax is on the fees, not on the value of your trade, so in rupees it is small.
A worked example: the fixed charges on a Rs 100,000 purchase
These are the charges other than commission, for a buyer in Sindh:
| Charge | Amount |
|---|---|
| PSX trading fee | Rs 3.50 |
| Sales tax on the trading fee (13%) | Rs 0.46 |
| PSX regulatory fee | Rs 0.62 |
| SECP levy | Rs 0.65 |
| NCCPL trade fee | Rs 0.81 |
| NCCPL SECP fee | Rs 0.30 |
| CDC transaction fee (the Rs 5 minimum) | Rs 5.00 |
| Total before commission | Rs 11.34 |
That is about 0.011% of the trade. The broker's commission, plus sales tax on it, comes on top, and a sale is charged again the same way. On most trades the commission is by far the larger part of the cost, so it is the number to look at.
Other charges
Some costs aren't tied to a single trade:
- CDC custody fee: 0.005625% a year on the value of your holdings, worked out daily and charged monthly.
- Account opening and KYC: one-off NCCPL charges for identity checks, the client code and biometric verification.
- Annual account maintenance: a yearly charge on every PSX brokerage account, set out in the schedule of charges.
- Capital gains tax: on profits when you sell, depending on how long you held the shares and whether you are a tax filer. See how FIFO decides which shares you sold.
- Withholding tax on dividends: deducted by the company before a dividend reaches you.
These are set by NCCPL, CDC and the tax authorities, and they apply whichever broker you use.
The official schedules
Fees change from time to time. For the current figures, check the source:
- PSX schedule of charges
- CDC fees and deposits schedule
- NCCPL fee schedule
- NCCPL capital gains tax
- SECP
The rates on this page are from the published schedules of PSX (August 2024), NCCPL (March 2025) and CDC (March 2025). Tax rates are set in each year's budget and can change.
