Ismail Iqbal Securities
Ismail Iqbal Securities (Private) Limited
- PSX TREC 018
- Active
- Trading & Self-Clearing
- Karachi
Data last checked 13 Oct 2026. Spot an error? Tell us.
Key facts
- Ismail Iqbal Securities (Private) Limited is a Pakistan Stock Exchange trading & self-clearing broker, licence TREC 018, listed as "Active" on the PSX register.
- It is based in Karachi and established in 2004.
- Its largest shareholder is Ahfaz Mustafa, with 65.22%.
- Its published equity commission is 0.15% of trade value, or Rs 0.03 per share if higher.
- Its trading apps include Vtrade and Vtrade Touch.
- In the PSX top-10 lists for September 2026, it ranked #8 for investors.
At a glance
- PSX licence
- TREC 018, status "Active" on the PSX register
- Office
- C-94, KDA Scheme 1, Karachi, Pakistan
- Phone (PSX register)
- 021-34302181-5
- Established
- 2004
- Website
- ismailiqbal.com
- Tariff page
- ismailiqbal.com/Commission_Charges.php
- Complaints page
- ismailiqbal.com/ingr.php
- Account opening
- ismailiqbal.com/digital-account-opening.php
- Research page
- ismailiqbal.com/research.php
- Financial disclosures page
- ismailiqbal.com/financials.php
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 |
|---|---|---|---|
| Annual account fee Trading account maintenance charge, annual | all | Trading Account Maintenance Charges are Rs 1,000 Annually. | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| CDC charges CDC charge for transfer of physical shares to CDC (if applicable) | all | Rs 0.30 per share (If Applicable) | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| CDC charges CDC handling charge on delivery sale or purchase | all | Rs 0.004 per share on delivery sale/purchase | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| CDC charges CDC investor account charges, annual (if applicable) | all | Rs 1,000 Annually (If Applicable) | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| CDC charges CDC shares transfer charges, inward and outward (if applicable) | all | Rs. 0.004 per share (If Applicable) | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| Equity commission Equity commission (whichever is higher) | all | 0.15% of trade value, or Rs 0.03 per share if higher As published: Rs 0.03 per share or 0.15% of the transaction value, whichever is higher (Minimum Commission by SECP) The broker describes this as the minimum commission set by SECP. | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| Other charge Day trade commission, charged on one side only | all | Day-trade commission is charged on one side of the trade only As published: The Day Trade Commission would be charged on ONE side ONLY | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| Other charge NCCPL UIN charge, annual | all | NCCPL UIN Charges are Rs 200 Annually. | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| Other charge Odd lot trade charge, per trade (levied by NCCPL) | all | ODD LOT trade charges would be Rs. 5/- per trade by NCCPL. | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| Other charge Sindh Sales Tax on commission | all | Sindh Sales Tax (SST): 13% of Commission | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
| Other charge Fixed annual CGT fee for local investors, tiers A to I by traded value | Flat annual fee by total value traded: Rs 0 (under Rs 100,000) up to Rs 50,000 (Rs 5 billion and above); same for filers and non-filers As published: Tiers A to I: 0 (traded value under Rs 100,000) to 50,000 (Rs 5 billion and above) Applies to local investors only. Tiers A to I: Rs 0, 240, 360, 600, 1,800, 5,000, 20,000, 30,000 and 50,000. | source: ismailiqbal.com/Commission_Charges.php, checked 13 Oct 2026 |
Ownership
| Holder | Type | Share | Source |
|---|---|---|---|
| Ahfaz Mustafa CEO and director. As of 30 June 2026 (Pattern of Shareholding, p.1): 22,622,670 shares. | Individual | 65.22% | source: ismailiqbal.com/…/Pattern-of-Share-Holding.pdf, checked 13 Oct 2026 |
| Azhar Iqbal and Ayesha Naeem (joint holding) One joint holding by two people, listed as Substantial Shareholder. As of 30 June 2026 (Pattern of Shareholding, p.1): 12,059,690 shares. | Individual | 34.78% | source: ismailiqbal.com/…/Pattern-of-Share-Holding.pdf, checked 13 Oct 2026 |
People
| Name | Role | Source |
|---|---|---|
| Ahfaz Mustafa | CEO / Director | source: ismailiqbal.com/directors.php, checked 13 Oct 2026 |
| Muhammad Taufiq | Director | source: ismailiqbal.com/directors.php, checked 13 Oct 2026 |
| Junaid Haroon | Head of Compliance (website bio: recently appointed CFO) | source: ismailiqbal.com/management.php, checked 13 Oct 2026 |
| Fakhar Zaman | VP Sales | source: ismailiqbal.com/management.php, checked 13 Oct 2026 |
| Jawwad Aboobakar | EVP, Head of Business Development | source: ismailiqbal.com/management.php, checked 13 Oct 2026 |
| Nazim Abdul Muttalib | EVP, Head of Broking | source: ismailiqbal.com/management.php, checked 13 Oct 2026 |
| Saad Hanif | Head Of Research | source: ismailiqbal.com/management.php, checked 13 Oct 2026 |
Services
- Fixed incomesource: ismailiqbal.com/company.php, checked 13 Oct 2026
- Corporate financesource: ismailiqbal.com/company.php, checked 13 Oct 2026
- Equity researchsource: ismailiqbal.com/research.php, checked 13 Oct 2026
- Mobile appsource: ismailiqbal.com, checked 13 Oct 2026
- Online account openingsource: ismailiqbal.com/accop.php, checked 13 Oct 2026
- Equity salessource: ismailiqbal.com/company.php, checked 13 Oct 2026
- Portfolio managementsource: ismailiqbal.com/company.php, checked 13 Oct 2026
- Roshan Digital Accountsource: ismailiqbal.com/rei.php, checked 13 Oct 2026
- Shariah-compliant tradingsource: ismailiqbal.com/Islamic-brokerage-window.php, checked 13 Oct 2026
Mobile apps
| App | Platform | Publisher | Store rating |
|---|---|---|---|
| Vtrade | Android | VisionMax (Private) Limited | |
| Vtrade Touch | iPhone / iPad | VisionMax (Private) Limited |
Technology partners
- VisionMax (Private) Limited (Trading app) source: play.google.com/…/details?id=com.vtrade.touch, checked 13 Oct 2026
Investor tools on its website
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.
- Liquid capital statement, 30 September 2026 (broker's title: View September-2026), period ending 30 Sept 2026
- Half-yearly accounts, six months to 31 December 2025 (broker's title: 2026 HALF YEARLY), period ending 31 Dec 2025
- Annual financial statements, year ended 30 June 2025 (broker's title: 2025 YEARLY), period ending 30 Jun 2025
- Third-quarter accounts, period ended 31 March 2025 (broker's title: 2025 THIRD QUARTER), period ending 31 Mar 2025
Branches and contact
- Karachi (head office): C-94, KDA Scheme 1, Karachi, Pakistan, 111-111-IIS(447)
- Karachi: 407, 4th Floor, The Karachi Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, 0092-21-32470998
email: account.opening@ismailiqbal.comemail: info@ismailiqbal.comfacebook: https://www.facebook.com/iispl1instagram: https://www.instagram.com/iispl_sec/linkedin: https://www.linkedin.com/company/iisec/phone: (+92 21) 34302182-4phone: 0092-21-3430 2171-77phone: 021-34302181uan: 111-111-IIS(447)x_twitter: https://x.com/iispl_sec?lang=en
Questions about Ismail Iqbal Securities
Is Ismail Iqbal Securities a licensed PSX broker?
Ismail Iqbal Securities (Private) Limited holds Trading Right Entitlement Certificate (TREC) 018 and is listed as "Active" on the Pakistan Stock Exchange register of TREC holders.
Who owns Ismail Iqbal Securities?
According to its published shareholding, the largest shareholders are Ahfaz Mustafa (65.22%) and Azhar Iqbal and Ayesha Naeem (joint holding) (34.78%).
What commission does Ismail Iqbal Securities charge?
Ismail Iqbal Securities (Private) Limited publishes an equity commission of 0.15% of trade value, or Rs 0.03 per share if higher. Rates change, so confirm the current rate with the broker before trading.
Where is Ismail Iqbal Securities's head office?
Ismail Iqbal Securities (Private) Limited's head office is at C-94, KDA Scheme 1, Karachi, Pakistan.
Does Ismail Iqbal Securities have a mobile trading app?
Yes. Ismail Iqbal Securities (Private) Limited offers Vtrade and Vtrade Touch, available on Android and iPhone.
When was this information last checked?
The facts on this page were last checked against Ismail Iqbal Securities (Private) Limited's own published material on 13 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.