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Asked Questions?
For your self help purposes.
PMEX stands for the Pakistan Mercantile Exchange. It is a commodity futures exchange located in Pakistan. PMEX provides a platform for the trading of various commodities and financial instruments through futures contracts.
Futures trading is a financial practice that involves buying and selling standardized contracts (futures contracts) to speculate on the future price of various assets, such as commodities, financial instruments, or stock market indices. These contracts obligate the buyer to purchase, and the seller to sell, a specific quantity of the underlying asset at a predetermined price on a specified future date.
Opening a trading account is a straightforward process, but it may vary depending on your location and the financial institution or brokerage you choose. Here are the general steps you can follow to open a trading account:
• CNIC
• A sim registered in the investor’s name
• IBAN of client’s own name
• Income proof in case of Filer
• In cade of non-filer, income proof be needed of sponsor.
The security of your funds depends on several factors, including where you’ve invested or deposited them. Here are some common scenarios and what you can expect regarding the security of your funds:
Bank Deposits
Brokerage Accounts
Cryptocurrencies
- Investments
Verifying the legitimacy and reliability of a broker is crucial to ensure the security of your funds and the quality of your trading or investment experience. Here are steps you can take to verify a broker:
- Verify the broker’s regulatory status on the official website of the relevant regulatory authority. Ensure that the broker’s registration is current and in good standing.
The trading hours on the Pakistan Mercantile Exchange (PMEX) can vary based on the specific commodity or financial instrument being traded. PMEX typically operates in sessions, and here is a general overview of the trading hours:
• Monday: 4:00 am – 3:00 am
• Tuesday-Friday 5:00am – 3:00 am
Whether a broker or any of its employees can trade on your behalf depends on the type of trading arrangement you establish with the broker. There are two primary methods for allowing a broker to trade on your behalf:
Full-Service Brokerage: If you have a full-service brokerage account, the broker and their employees can trade on your behalf based on your instructions and, in some cases, with a degree of discretion. In a full-service brokerage, you work closely with a dedicated financial advisor or broker who helps you make investment decisions and execute trades according to your investment goals and risk tolerance. The broker has the authority to place trades in your account on your behalf based on your discussions and instructions.
