Intermarket Securities
Intermarket Securities Limited, formerly Intermarket Securities Pvt. Ltd., EFG Hermes Pakistan Limited, Invest and Finance Securities Limited
- PSX TREC 124
- Active
- Trading & Self-Clearing
- Karachi
Data last checked 30 Oct 2026. Spot an error? Tell us.
Key facts
- Intermarket Securities Limited is a Pakistan Stock Exchange trading & self-clearing broker, licence TREC 124, listed as "Active" on the PSX register.
- It is based in Karachi and established in 1994.
- Its largest shareholder is Erum Bilwani, with 43.07%.
- Its chief executive is Wajid Hussain.
- Its published equity commission is 0.15% of trade value (shares priced Rs 20 or more); Rs 0.03 (3 paisa) per share (shares priced below Rs 20).
- Its trading apps include IMTrade, IMTrade-iFlair and IMTradeSWIFT.
- In the PSX top-10 lists for September 2026, it ranked #7 for traded value.
At a glance
- PSX licence
- TREC 124, status "Active" on the PSX register
- Office
- Bahria Complex-IV, 5th Floor, Ext. Block, Ch. Khalique-uz-Zaman Road, Gizri, Karachi-75600, Pakistan.
- Phone (PSX register)
- 021-111-467-000 | 021-37131600
- Established
- 1994
- Website
- imsecurities.com.pk
- Tariff page
- imsecurities.com.pk/investors/faqs
- Complaints page
- imsecurities.com.pk/contact/complaint-form
- Account opening
- onlineaof.imsecurities.com.pk/login
- Research page
- imsecurities.com.pk/services/research-reports
- Financial disclosures page
- imsecurities.com.pk/investors/ims-financials
PSX rankings, September 2026
Fees and charges
Each rate links to the broker's own published schedule. Where the original wording is unclear, we show a plain version and the exact wording beneath it. Brokers change rates, so confirm the current rate with the broker before you trade.
| Charge | Applies to | Rate | Source |
|---|---|---|---|
| Equity commission Brokerage commission, shares priced Rs 20 or more | 0.15% of trade value (shares priced Rs 20 or more) As published: For shares worth more than equal to PKR 20, 0.15% of the traded value will be charged as commission. | source: imsecurities.com.pk/investors/faqs, checked 13 Oct 2026 | |
| Equity commission Brokerage commission, shares priced below Rs 20 | Rs 0.03 (3 paisa) per share (shares priced below Rs 20) As published: For shares worth between PKR 0 - 19.9999, 0.03 paisa per share commission will be charged. The broker's FAQ says '0.03 paisa per share', which read literally would be Rs 0.0003. Rs 0.03 is almost certainly the intended rate: it is where the two tiers meet (0.15% of a Rs 20 share is Rs 0.03). Confirm with the broker. unconfirmed: check with the broker | source: imsecurities.com.pk/investors/faqs, checked 13 Oct 2026 |
Ownership
| Holder | Type | Share | Source |
|---|---|---|---|
| Erum Bilwani As of 30 June 2025 (Form 34 pattern of shareholding, Half Year Report (Audited) June 2025, p.80): 554,550,410 of 1,287,510,240 shares. | Individual | 43.07% | source: imsecurities.com.pk/…/nload.php?id=37&download=1, checked 30 Oct 2026 |
| Muhammad Uraib Azneem Bilwani As of 30 June 2025 (Form 34 pattern of shareholding, Half Year Report (Audited) June 2025, p.80): 532,803,250 of 1,287,510,240 shares. | Individual | 41.38% | source: imsecurities.com.pk/…/nload.php?id=37&download=1, checked 30 Oct 2026 |
| EFG-Hermes Frontiers Holdings LLC As of 30 June 2025 (Form 34 pattern of shareholding, Half Year Report (Audited) June 2025, p.80). The company is listed on PSX; the remaining shares are held by the public and others. | Company | 7.92% | source: imsecurities.com.pk/…/nload.php?id=37&download=1, checked 30 Oct 2026 |
People
| Name | Role | Source |
|---|---|---|
| Wajid Hussain | Chief Executive Officer / Executive Director | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Erum Bilwani | Chairperson | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Ahmed Masood | Independent Director | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Muhammad Ashfaq | Independent Director | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Rahat Aziz | Independent Director | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Rehan Alam | Non-Executive Director | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Shehzad Hussain | Non-Executive Director | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Zulfiqar Ali | Chief Financial Officer | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Shahid Kamal | Company Secretary | source: imsecurities.com.pk/…/board-of-directors, checked 13 Oct 2026 |
| Abdul Ghani Mianoor | Head of Research | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Adnan Khan | Head of International Sales | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Azra Qadir | Manager Human Resource | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Farhan Aslam | Head of Information Technology | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Ibraheem Abid Mir | Business Head North Region | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Khurram Bashir | Deputy Chief Executive Officer | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Muhammad Fahad Zia | Head of Domestic Institutional Sales | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Muhammad Younus | Director Operations | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Wasi M. Khan | Head of Online Trading & Retail | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
| Yusra Beg | Deputy Head of Research | source: imsecurities.com.pk/…/management-profile, checked 13 Oct 2026 |
Services
- Corporate financesource: imsecurities.com.pk/services/investment-banking, checked 13 Oct 2026
- Equity researchsource: imsecurities.com.pk/services/equity-research, checked 13 Oct 2026
- Futuressource: imsecurities.com.pk/investors/faqs, checked 13 Oct 2026
- Mobile appsource: imsecurities.com.pk/online-trading, checked 13 Oct 2026
- Online account openingsource: imsecurities.com.pk/services/retail-brokerage, checked 13 Oct 2026
- Retail brokeragesource: imsecurities.com.pk/services/retail-brokerage, checked 13 Oct 2026
- Roshan Digital Accountsource: imsecurities.com.pk/…/roshan-digital-account, checked 13 Oct 2026
- Shariah-compliant tradingsource: imsecurities.com.pk/media-news, checked 13 Oct 2026
- Web tradingsource: imsecurities.com.pk/online-trading, checked 13 Oct 2026
Mobile apps
| App | Platform | Publisher | Store rating |
|---|---|---|---|
| IMTrade | Android | Intermarket Securities | 3.4 (14 ratings) |
| IMTrade | iPhone / iPad | Intermarket Securities Limited. | 4.0 (3 ratings) |
| IMTrade-iFlair | iPhone / iPad | Intermarket Securities Limited. | 3.0 (4 ratings) |
| IMTradeSWIFT | iPhone / iPad | Intermarket Securities Limited. | 5.0 (1 ratings) |
Technology partners
- Asaan Connect (Account opening)unconfirmed source: imsecurities.com.pk, checked 13 Oct 2026
Investor tools on its website
- Charts
- Daily market commentary
- Investor education
- Live quotes
- Market news
- Shariah-compliant scrips list 315 items
- Portfolio tracker
- Research reports 47 items, latest item 12 Oct 2026
Financial disclosures
Documents the broker lists on its own website. We link to them but have not reviewed their contents. Titles are as the broker shows them.
- Annual report, 6-month transition year 1 Jan to 30 Jun 2025 (broker's title: annual financial report of intermarket securities 30 june 2025), period ending 30 Jun 2025
- annual financial report of intermarket securities for the year ended 31 december 2024, period ending 31 Dec 2024
- audited financial statements of intermarket securities for the year ended june 30 2024, period ending 30 Jun 2024
- intermarket securities limited unaudited financial statement december 31 2023, period ending 31 Dec 2023
- ims nine month quarterly report 2026
- intermarket securities limited 1st quaterly report 2025
- intermarket securities limited half yearly report 2026
Branches and contact
- Karachi (head office): Bahria Complex-IV, 5th Floor, Ext. Block, Ch. Khalique-uz-Zaman Road, Gizri, Karachi-75600, Pakistan., (0092 21) 111 467 000
- Karachi: Intermarket House, Plot No 38-A, Adjacent Genix Pharma, Korangi Creek, Karachi 75190, Pakistan., (0092 21) 111 467 000
- Karachi: Pakistan Stock Exchange - Main Building, Suite no. 139-140 & 409, 3rd & 4th Floor, Karachi 74000, Pakistan., (92 21) 32428765-66
- Karachi: Balad Trade Centre, Suite no. 212, 2nd Floor, Plot No. 118, Block-3, B.M.C.H.S, Karachi 79001, Pakistan., (92 21) 34122991, 34122995-6
- Karachi: Pakistan Stock Exchange - New Building, 10th Floor, Room No. 1001-1010, Stock Exchange Road, I.I. Chundrigar Road, Karachi.
- Karachi: Business Arcade, Movenpick Hotel, Office no. 34-35, mezzanine floor, Plot no. CL-11, survey no. 2, Dr. Ziauddin Ahmed Road, Karachi.
- Lahore: M.M Towers, Property No. 28, 11th Floor, Block K, M.M Alam Road, Gulberg III, Lahore., (92 42) 35788841 - 35817666
email: customercare@imsecurities.com.pkfacebook: https://www.facebook.com/IMStrade/instagram: https://www.instagram.com/intermarketsecurities/linkedin: https://www.linkedin.com/company/intermarket-securities/phone: (0092 21) 111 467 000uan: 0092-111-IMS-000 (467)uan: 0800-46700 (toll free)x_twitter: https://x.com/IMStradeonlineyoutube: https://www.youtube.com/@imtrade7414
Questions about Intermarket Securities
Is Intermarket Securities a licensed PSX broker?
Intermarket Securities Limited holds Trading Right Entitlement Certificate (TREC) 124 and is listed as "Active" on the Pakistan Stock Exchange register of TREC holders.
Who owns Intermarket Securities?
According to its published shareholding, the largest shareholders are Erum Bilwani (43.07%), Muhammad Uraib Azneem Bilwani (41.38%) and EFG-Hermes Frontiers Holdings LLC (7.92%).
What commission does Intermarket Securities charge?
Intermarket Securities Limited publishes an equity commission of 0.15% of trade value (shares priced Rs 20 or more); Rs 0.03 (3 paisa) per share (shares priced below Rs 20). Rates change, so confirm the current rate with the broker before trading.
Who is the CEO of Intermarket Securities?
The chief executive of Intermarket Securities Limited is Wajid Hussain.
Where is Intermarket Securities's head office?
Intermarket Securities Limited's head office is at Bahria Complex-IV, 5th Floor, Ext. Block, Ch. Khalique-uz-Zaman Road, Gizri, Karachi-75600, Pakistan..
Does Intermarket Securities have a mobile trading app?
Yes. Intermarket Securities Limited offers IMTrade, IMTrade-iFlair and IMTradeSWIFT, available on Android and iPhone.
When was this information last checked?
The facts on this page were last checked against Intermarket Securities Limited's own published material on 30 Oct 2026. Each fact links to its source.
Information only, not investment advice. Details come from the broker's own published material and may change; confirm anything important with the broker.