As per the directive of the Securities and Exchange Commission of Pakistan (SECP) all Securities Brokers are required to charge a minimum of 3 paisa per share or 0.15% of the transaction value, whichever is higher. Fortune Securities Limited charges this minimum commission structure as stipulated by SECP.
CZ-50 Zakat Document – is optional, but if you opt for Zakat Non-Deductible then please provide us the same, duly filled with Your name, father name, age, complete address, Fiqah, signature, & witnesses details. Zakat Form should be on Rs. 50 stamp paper with Vendor Stamp & latest date printed and stamped by oath commissioner or notary public. This is available at our website in download section under the name of ‘Zakat Declaration Format’.
In that case you will have to provide us an undertaking from on plain paper duly signed by you and witnesses. This need not be printed on stamp paper. This is available at our website in download section under the name of ‘Solemn Affirmation for Zakat Exemption’
Nominee, is optional but if desired, Nomination may be made in terms of requirements of Section 79 of the Companies Act, 2017, which inter alia requires that person nominated as aforesaid shall not be a person other than the following relatives of the Investor Account/Sub-Account Holder, namely: a spouse, father, mother, brother, sister and son or daughter. Core purpose of nomination is to facilitate the process of transferring deceased investor’s assets.)
Alternatively, you may send your crossed cheque in favor of “Fortune Securities Limited” by mail or drop it personally at offices of Fortune Securities Ltd. Corporate Office address is as following; Fortune Securities Limited
3rd Floor, Razi Tower, BC-13,
Clifton Block 9, KDA Scheme 5,
Although for resident individual clients it’s not mandatory but we encourage our clients to provide us a valid email because we send the trade confirmations and other important notices related to Fortune Connect account holders through email.
Clients residing outside Pakistan can send an email detailing your query to us or by dialing Fortune Connect Helpline from outside Pakistan. We have also introduced our WhatsApp service for the convenience of clients. Our WhatsApp number is 0300-FORTUNE(3678863)
When using Fortune Connect Software you are in total control of your transaction. You can view real-time market activity. A single keystroke or click of a mouse executes a buy or sell order. Also when the order has been completed you will receive instant confirmation of your trade via email.
A person whose principal concern in the purchase of a security is the minimizing of risk, compared to the speculator who is prepared to accept calculated risk in the hope of making better-than-average profits. More generally it refers to people who invest money in investment products.
The quantity below the market lot of shares is termed as ODDLOT. For instance, the market lot of OGDC is 100 and if you have below 100 shares then it means that you have shares in ODD LOT form. You can trade by selecting ODL through Drop Down Menu in Market in BUY/SELL Order window in trading terminal.
Provisional Trading refers to the trading activity that takes place between the time a scrip is formally listed at the Stock Exchange and after it’s Initial Public Offering (IPO) has taken place and the subscriptions have been received from the prospective shareholders. During this time trading activity takes place under an informal mechanism before the settlement date of the subscription where all shareholders have to settle their positions with the Stock Exchange against their holdings in the scrip. Provisional Trading helps gauge for the investors the demand and supply situation of the scrip before formal trading starts at the Stock Exchange. The settlement procedure during the provisional trading period is similar to the settlement of Futures Contracts.
A symbol is a unique, market-approved code that identifies a particular security on an exchange. The symbol generally reflects the name of the security. For example, the symbol for the K-Electric Limited stock is KEL. This is also known as the ‘ticker symbol’.
When you instruct your broker to buy shares for you at or below a certain price, or sell shares at or above a certain price, you’ve entered a limit order. Limit orders reduce the risk that an order will be filled at a price you don’t like, and best suit the investors’ interests in volatile markets. The down side, of course, is that by waiting for your price the stock you want gets away from you, or the stock you want to unload just keeps falling. The opposite of a limit order is a market order, in which the broker is instructed to execute the trade at any market price available.
Under ‘normal conditions’ orders are placed and confirmed within two (02) seconds, but it is important to understand that the time to execute an order will vary depending upon market conditions, type of order being placed, order size, internet connection etc.
You will have to provide a CDC cheque (Transfer Order) in favor of “Fortune Securities Limited”, our participant ID is 01651. Submit the cheque directly in the CDC and email us at email@example.com mentioning the details of shares, your CDC Investor account Title name and CDC Investor account number from where the shares have been transferred positively till 4.00 PM on the day of transfer or you may also fax us a copy of the cheque stating your Fortune Connect user ID for follow up. As soon as your shares are received your Fortune Connect account will be updated.
Yes, you can transfer to your own CDC Investor account or your CDC sub account with another member. We will need the CDC account holder’s participant name and ID and also a signed written request to transfer the security. However, you must ensure that your account isn’t in debit and you maintain Rs. 5,000 in your Fortune Connect account. The Account Title(s) information should be same in both accounts (Transferring From and Transferring To).
Yes, physical shares are acceptable at Fortune Connect. The physical shares should be in the name of Account holder. You will deposit your physical shares along with verified transfer deeds and a covering letter at Fortune Connect office. Fortune Connect will transfer these shares into CDC tradable shares through the Central Depository Company of Pakistan limited (CDC).
Once the trade has been completed, you will receive confirmation via email not later than the start of the next trading day after the contract was entered into. Orders placed through Phone will also be confirmed via email.
Money paid to stockholders, normally out of the corporation’s current earnings or accumulated profits. All dividends must be declared by the board of directors and are taxable as income to the recipients.
A rights share is an issuance of new shares to existing shareholders. These are not free however they are usually below the current market price. Issuance of these new shares to existing shareholders is known as Right shares.
The under stated scenario will help you to decide, whether to subscribe your right shares or sell them in the market. Remember, you may always buy more right shares from the market if required.
You receive a right share of XYZ and the market price for that right share is Rs.3.00 per share. If you wish, you may sell the rights in the market.
But if you subscribe the right share at Rs.10 per share, and if the market price of ordinary XYZ is 15.00 and you sell it after the conversion, then you have a benefit of Rs.5.00 per share.
NOTE: If the company’s ordinary shares are traded in the market below the par value and the company offers the right at the rate of par value, then ordinary shares are usually purchased from the market rather than subscribing the rights.
The payment of dividend to clients holding marked deliveries is known as dividend disbursement. This payment is made by he appointed registrar of the company through Dividend Warrants sent to the shareholder’s address or they are directly transferred to client’s bank account. The registrar uses the contact & bank details of shares holders through the information provided in CDC Sub Account Form.
Stop Loss trading is a form used to prevent unusual and large number of losses. It allows the client to place a rate below current market price if there is a drop expected. In this manner, a client can minimize losses by placing a rate as maximum loss.
When you instruct your broker to execute the buy / sell trade at any market price available. Market orders increase the risk that an order will be filled at a price you don’t like, and does not suit the investors’ interests in volatile markets. The up side, of course, is that by waiting for your price the stock you want gets away from you, or the stock you want to unload just keeps falling. The opposite of a Market order is a Limit order, in which the broker is instructed to buy or sell the share at your desired price.
Market Order always contains a risk of being executed at a price above or below the last scene rate because of the quick fluctuations of share prices.
There can be a number of reasons for your order not being executed. The order will not be executed if the share price didn’t reach the limit specified in your placed order, if you place a market order to buy a share trading at Upper Lock or to sell a share trading at Lower lock. Please note that all the orders placed at Pakistan Stock Exchange are valid for a session.
There are multiple ways to connect to your stock trading account even when your FSL Trading System is not accessible. You can contact our call center UAN 111 000 375. You can utilize this channel to know your portfolio, place and cancel your orders and a host of other services.
Yes, there is a restriction on two types of orders. Short Sell orders for regular market are not allowed to be placed and also Wash Trades (executing a day trade of a particular share where buying and selling is at the same rate) are prohibited