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: New
to Trading : Frequently
Asked Questions |
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| Account Opening | General Enquiries | Settlement | Technical Assistance Online Trading |
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| Account Opening |
- Can My account be refused to be opened?
- Where do I send my initial deposit?
- What is an Internet trading account?
- I am new to the market, where can I find definitions of financial terms?
- Can I use my Internet account to keep updated on my portfolio during the day?
- How do you notify clients of trade executions?
- Is there a registration fee or annual fee for members?
- When can I start placing orders?
- How long does it take to activate/open an account?
- What is the minimum amount required for opening an account?
- Is there help available to understand the trading system?
- Is there a time limitation for my access to the market data?
- What is an ISP and why should it matter which service provider I use?
- Who can I contact with all my questions?
- I have just registered, but I cannot log in?
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| FAQs
Answers: Account Opening |
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| Can My account be refused to be opened? |
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Yes, AKD Trade reserves the right to refuse any account without assigning any reason.
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| Where do I send my initial deposit? |
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You may send your cheque / Pay order in favor of AKD Securities Ltd. - AKD Trade by mail or drop it personally at any one of our offices.
Head Office – Karachi
Continental Trade Center
Suite 214, 2nd Floor
Block 8, Clifton
Karachi, 75600
Pakistan
AKD Trade – Lahore
Room no 512/513, 5th Floor
Lahore stock exchange Building
19 Khiyaban-e-Aiwan-i-Iqbal Road,
Lahore
Pakistan
AKD Trade – Islamabad
AKD Trade, Islamabad
M-4, Islamabad Stock Exchange Building,
101-E, Fazal-e-Haq Road,
Blue Area,
Islamabad, Pakistan
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| What is an Internet trading account? |
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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. |
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| I am new to the market, where can I find definitions of financial terms? |
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We have included a financial and trading glossary on our website to assist individual investors/day-traders in understanding the terms associated with the electronic trading environment. |
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| Can I use my Internet account to keep updated on my portfolio during the day? |
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Yes. Your AKD Trade account contains a Portfolio menu to assist you in monitoring the activity in your account. |
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| How do you notify clients of trade executions? |
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Once the trade has been completed, you will receive confirmation via email. Orders placed through Phone/IVR will also be confirmed via email. |
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| Is there a registration fee or annual fee for members? |
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| No there is no such fee. |
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| When can I start placing orders? |
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| 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. |
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| How long does it take to activate/open an account? |
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It depends on how quickly information is sent in. The registration process usually takes:
4 - 6 working days for cheque
OBC (Outbound Cheque) may take up to 15 working days
Depositing cash will take 2 - 3 working days after receiving the original
bank deposit slip. Kindly mention "New account" at the back of the bank
deposit slip.
AKD Trade bank account #
Bank: Standard Chartered Bank (Pakistan) Limited
Account Title: AKD SECURITIES LTD
Account Number: 10-4972384-01
Common Reasons for delay:
Original bank deposit slip not sent to AKD Trade
Customer documentation incomplete
Customer not available for call verification
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New Accounts Processing
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Please note that all account opening forms received by AKD Trade have to undergo internal procedures as per the policies at AKD Trade. Subsequently new account opening requests can have the following kinds of outcome.
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1) Accounts will be opened and the account opening material including user id and password details will be dispatched to our new customer.
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2) Account opening can be refused. In this case the prospective customer will be intimated via email/letter.
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NOTE: AKD Trade reserves the right to refuse any account without assigning any reason.
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| What is the minimum amount required for opening an account? |
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| Minimum amount required to setup an account is Rs. 250,000. Shares worth Rs. 250,000 transfered from CDC accounts are also acceptable. |
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| Is there help available to understand the trading system? |
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| Yes we have included a demo on our website to assist you. In addition, professional and courteous AKD Trade officers are available from 9 AM till 07:00 PM on Monday to Friday and 9:00 AM to 4:00 PM on Saturday, at the AKD Trade Call Centre to assist you in this regard. |
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| Is there a time limitation for my access to the market data? |
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| Real-time
data is available on the AKD Trade website during market
hours. |
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| What is an ISP and why should it matter which service provider I use? |
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| A very important part of the quality of your connection to us will depend on your Internet Service Provider or ISP. Your choice of ISP should be made very carefully. The determining factors should be how quickly you get connected during peak times and consistency of service. |
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| Who can I contact with all my questions? |
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| If you require assistance, please call 111-253-253 and our AKD Trade Officers will answer your questions. |
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| I have just registered, but I cannot log in? |
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| Check
your login and password, as they may be case-sensitive
and retry. Otherwise, please contact our Call Centre at
111-253-253. |
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