Home / PSX brokers / MRA Securities
MRA Securities
MRA Securities Limited
- PSX TREC 194
- Active
- Trading & Self-Clearing
- Karachi
Data last checked 13 Oct 2026. Spot an error? Tell us.
Key facts
- MRA Securities Limited is a Pakistan Stock Exchange trading & self-clearing broker, licence TREC 194, listed as "Active" on the PSX register.
- It is based in Karachi.
- Its largest shareholder is Muhammad Farhan, with 36.18%.
- Its chief executive is Mirza Muhammad Baig.
- Its published equity commission is Rs 0.03 per share (shares priced Rs 0.01-20.00); 0.15% of trade value (shares priced Rs 20.01 and above).
- Its trading apps include MRA D-Trade, MRA Wiqaya and Vtrade.
- In the PSX top-10 lists for September 2026, it ranked #1 for traded volume.
At a glance
- PSX licence
- TREC 194, status "Active" on the PSX register
- Office
- Room 738-741 7th Floor, Stock Exchange Main Building, PSX Karachi, Pakistan.
- Phone (PSX register)
- 021-32410136-40 | 32414115
- Website
- mra.com.pk
- Tariff page
- mra.com.pk/downloads/Commission-Structure.pdf
- Complaints page
- mra.com.pk/investor-grievances
- Account opening
- dob.mradtrade.biz
- Research page
- mra.com.pk/education
- Financial disclosures page
- mra.com.pk/investor-information
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 |
|---|---|---|---|
| CDC charges CDC charges | Charged as per CDC regulations (the broker does not publish an amount) As published: CDC charges shall be applicable as per the CDC Regulations. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Futures market commission, delivery (share price Rs 0.01-20.00) | Rs 0.03 per share (shares priced Rs 0.01-20.00) As published: 0.0300 R The PDF prints '0.0300 R'. It does not define 'R'; we read it as rupees per share, because the PDF's standard minimum (Rs 0.03 or 0.15%) meets exactly at the Rs 20 slab boundary. The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Futures market commission, delivery (share price Rs 20.01 and above) | 0.15% of trade value (shares priced Rs 20.01 and above) As published: 0.1500 % The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum (Rs 0.03 per share or 0.15%) applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Futures market commission, difference (share price Rs 0.01-20.00) | Rs 0.03 per share (shares priced Rs 0.01-20.00) As published: 0.0300 R The PDF prints '0.0300 R'. It does not define 'R'; we read it as rupees per share, because the PDF's standard minimum (Rs 0.03 or 0.15%) meets exactly at the Rs 20 slab boundary. The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Futures market commission, difference (share price Rs 20.01 and above) | 0.15% of trade value (shares priced Rs 20.01 and above) As published: 0.1500 % The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum (Rs 0.03 per share or 0.15%) applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Ready market commission, delivery (share price Rs 0.01-20.00) | Rs 0.03 per share (shares priced Rs 0.01-20.00) As published: 0.0300 R The PDF prints '0.0300 R'. It does not define 'R'; we read it as rupees per share, because the PDF's standard minimum (Rs 0.03 or 0.15%) meets exactly at the Rs 20 slab boundary. The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Ready market commission, delivery (share price Rs 20.01 and above) | 0.15% of trade value (shares priced Rs 20.01 and above) As published: 0.1500 % The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum (Rs 0.03 per share or 0.15%) applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Ready market commission, intraday difference (share price Rs 0.01-20.00) | Rs 0.03 per share (shares priced Rs 0.01-20.00) As published: 0.0300 R The PDF prints '0.0300 R'. It does not define 'R'; we read it as rupees per share, because the PDF's standard minimum (Rs 0.03 or 0.15%) meets exactly at the Rs 20 slab boundary. The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Equity commission Ready market commission, intraday difference (share price Rs 20.01 and above) | 0.15% of trade value (shares priced Rs 20.01 and above) As published: 0.1500 % The slab ranges are share prices. Per the PDF, the higher of the slab rate and the PSX standard minimum (Rs 0.03 per share or 0.15%) applies. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Minimum commission Standard minimum commission (PSX Rule Book clause 4.29) | Rs 0.03 per share or 0.15% of trade value, whichever is higher (or a higher agreed rate); capped at 2.5% of trade value As published: Rs. 0.03 or 0.15% or agreed rate which is higher with maximum cap of 2.5% of the transaction value. PSX standard minimum from 14 Oct 2019, applying to ready and futures markets (delivery and intraday difference). The PDF adds: 'Please note that a higher commission slab will be applicable based on the above mentioned Commission Slabs and the Standard Minimum Commission.' | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge Futures rollover commission, weekly (share price Rs 0.01-99.99) | Rs 0.01 per share (shares priced Rs 0.01-99.99) As published: 0.0100 R Charged weekly on futures positions rolled over (PDF note 1: 'Weekly Rollover Commission will be charged on future market'). The PDF prints '0.0100 R'; we read 'R' as rupees per share. The slab ranges are share prices. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge Futures rollover commission, weekly (share price Rs 100.00 and above) | Rs 0.02 per share (shares priced Rs 100.00 and above) As published: 0.0200 R Charged weekly on futures positions rolled over (PDF note 1: 'Weekly Rollover Commission will be charged on future market'). The PDF prints '0.0200 R'; we read 'R' as rupees per share. The slab ranges are share prices. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge MTS rollover commission, COT (share price Rs 0.01-99.99) | Rs 0.005 per share (shares priced Rs 0.01-99.99) As published: 0.0050 R A per-share commission on rolling over an MTS (margin trading) position, not the MTS financing rate, which the broker does not publish. The PDF prints '0.0050 R'; we read 'R' as rupees per share. The slab ranges are share prices. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge MTS rollover commission, COT (share price Rs 100.00 and above) | Rs 0.01 per share (shares priced Rs 100.00 and above) As published: 0.0100 R A per-share commission on rolling over an MTS (margin trading) position, not the MTS financing rate, which the broker does not publish. The PDF prints '0.0100 R'; we read 'R' as rupees per share. The slab ranges are share prices. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge Margin financing (MF) rollover commission (share price Rs 0.01-99.99) | Rs 0.005 per share (shares priced Rs 0.01-99.99) As published: 0.0050 R The PDF legend says 'MF- MF ROLLOVER'; the broker's site menu lists 'Margin Financing (MF/MTS)'. A per-share commission on rollover, not the financing rate, which the broker does not publish. The PDF prints '0.0050 R'; we read 'R' as rupees per share. The slab ranges are share prices. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge Margin financing (MF) rollover commission (share price Rs 100.00 and above) | Rs 0.01 per share (shares priced Rs 100.00 and above) As published: 0.0100 R The PDF legend says 'MF- MF ROLLOVER'; the broker's site menu lists 'Margin Financing (MF/MTS)'. A per-share commission on rollover, not the financing rate, which the broker does not publish. The PDF prints '0.0100 R'; we read 'R' as rupees per share. The slab ranges are share prices. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 | |
| Other charge Transaction fees, government taxes and other charges | Billed to the client on top of commission (amounts not published by the broker) As published: Transaction on fee, Government taxes, or any other charges applicable from time to time shall be billed to client. | source: mra.com.pk/downloads/Commission-Structure.pdf, checked 13 Oct 2026 |
Ownership
| Holder | Type | Share | Source |
|---|---|---|---|
| Muhammad Farhan As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 36.18% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Hina As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 16.95% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Ahmed Rafiq As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 16.64% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Junaid Rafiq As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 11.76% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Mumtaz Rafiq As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 11.01% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Haji Muhammad As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 7.46% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Arif Farooq Qadri 500 shares, under 0.01% of 127,500,000 shares (the broker prints 0 %). As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 0% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Haroon 170 shares, under 0.01% of 127,500,000 shares (the broker prints 0 %). As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 0% | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Shoaib 247 shares, under 0.01% of 127,500,000 shares (the broker prints 0 %). As of 30 June 2025 (broker's governance page, Pattern of Shareholding). | Individual | 0% | source: mra.com.pk/governance, checked 13 Oct 2026 |
People
| Name | Role | Source |
|---|---|---|
| Mirza Muhammad Baig | Chief Executive | source: psx.com.pk/…/st-of-TREC-Holders-New-07-05-26.pdf, checked 13 Oct 2026 |
| Muhammad Shoaib | Independent Director | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Arif Farooq Qadri | Executive Director | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Farhan | Executive Director | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Haroon | Independent Director | source: mra.com.pk/governance, checked 13 Oct 2026 |
| Muhammad Zubair | Head of Compliance | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Kamran | Company Secretary | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Adeel Ahmed | SVP - Head of Online | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Haji Muhammad | Sponsor and Senior Executive | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Muhammad Asif | Manager, Business Development | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Shabbir | Head of Information Technology | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Muhammad Bashir | Customer Support Manager | source: mra.com.pk/about-us, checked 13 Oct 2026 |
| Zaka Ullah Khan | Head of Business Development | source: mra.com.pk/about-us, checked 13 Oct 2026 |
Services
- Bonds and sukuksource: mra.com.pk/services, checked 13 Oct 2026
- Corporate financesource: mra.com.pk/about-us, checked 13 Oct 2026
- Corporate sales desksource: mra.com.pk/about-us, checked 13 Oct 2026
- Futuressource: mra.com.pk/about-us, checked 13 Oct 2026
- Margin financingsource: mra.com.pk/about-us, checked 13 Oct 2026
- Minor accountssource: mra.com.pk/about-us, checked 13 Oct 2026
- Mobile appsource: mra.com.pk/trading-apps, checked 13 Oct 2026
- Online account openingsource: mra.com.pk/about-us, checked 13 Oct 2026
- ETF tradingsource: mra.com.pk/about-us, checked 13 Oct 2026
- Roshan Digital Accountsource: mra.com.pk/services, checked 13 Oct 2026
- Sahulat accountsource: mra.com.pk/about-us, checked 13 Oct 2026
- Shariah-compliant tradingsource: mra.com.pk/services, checked 13 Oct 2026
- Web tradingsource: mra.com.pk/about-us, checked 13 Oct 2026
Mobile apps
| App | Platform | Publisher | Store rating |
|---|---|---|---|
| MRA D-Trade | Android | MRA Securities Limited | |
| MRA Wiqaya | Android | MRA Securities Limited | |
| Vtrade | Android | VisionMax (Private) Limited | |
| MRA D-Trade | iPhone / iPad | MRAD-Trade | 5.0 (2 ratings) |
| MRA Wiqaya | iPhone / iPad | MRAD-Trade | 5.0 (2 ratings) |
| Vtrade Touch | iPhone / iPad | VisionMax (Private) Limited |
Technology partners
- VisionMax (Private) Limited (Order management) source: mra.com.pk/software-vendor, checked 13 Oct 2026
- VisionMax (Private) Limited (Trading app) source: play.google.com/…/details?id=com.vtrade.touch, checked 13 Oct 2026
- Proton Marketing (Website)unconfirmed source: mra.com.pk, 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, March 2026 (broker's title: MARCH), period ending 31 Mar 2026
- Liquid capital statement, February 2026 (broker's title: FEBRUARY), period ending 28 Feb 2026
- Liquid capital statement, January 2026 (broker's title: JANUARY), period ending 31 Jan 2026
- HALF YEARLY - DECEMBER, 2025, period ending 31 Dec 2025
- FIRST QUARTER - SEPTEMBER, 2025, period ending 30 Sept 2025
- YEARLY - JUNE, 2025, period ending 30 Jun 2025
- THIRD QUARTER - MARCH, 2025, period ending 31 Mar 2025
Branches and contact
- Karachi (head office): Room 738-741 7th Floor, Stock Exchange Main Building, PSX Karachi, Pakistan., +92 21 32410136-138, 0300-3600326
- Karachi: Office No. # 1301, 13th Floor, Sumya Sky View, Plot No.11/1/1, Civil Lines, Karachi., +92 21 36493123, 0326-8291052
- Karachi: Room No. 608-609, 6th Floor, New Stock Exchange Building, Karachi., +92 21 32460703
- Karachi: Room No. 535-536, 5th Floor, Main Stock Exchange Building, Karachi., +92 21 32465614
- Karachi: Room No. 405-406, 4th Floor, Main Stock Exchange Building, Karachi., +92 21 32465615
- Karachi: Room No. 408 4th Floor, Main Stock Exchange Building, Karachi., +92 21 32417997
- Karachi: A-356, Sector 11-B, New Disco More, North Karachi, Karachi., +92 21 36907108
- Karachi: Room No.1010-11011, 10th floor, Saima Trade Tower 'A', I.I Chundrigar Road, Karachi Pakistan, +92 21 32274975, +92 21 32274980
- Lahore: Room No.408-409, 4th Floor, South Tower, LSE Plaza, 19 Khayaban-e-Aiwan-e-Iqbal Road, Lahore, +92 42 36280748-85
email: complaints@mra.com.pkemail: compliance@mra.com.pkemail: info@mra.com.pkemail: support@mra.com.pkfacebook: https://www.facebook.com/MRASecurities/instagram: https://www.instagram.com/mrasecuritieslimited/linkedin: http://linkedin.com/company/mrasecuritieslimitedphone: +92 21 32410136-138phone: +92 21 36493123phone: +92 21-32460707phone: +92 21-36496408whatsapp: 0326-8291052x_twitter: https://x.com/mrasecuritiesyoutube: https://www.youtube.com/channel/UCbmbNX9RzJNDdkLb2F3Q-Ig
Questions about MRA Securities
Is MRA Securities a licensed PSX broker?
MRA Securities Limited holds Trading Right Entitlement Certificate (TREC) 194 and is listed as "Active" on the Pakistan Stock Exchange register of TREC holders.
Who owns MRA Securities?
According to its published shareholding, the largest shareholders are Muhammad Farhan (36.18%), Hina (16.95%) and Ahmed Rafiq (16.64%).
What commission does MRA Securities charge?
MRA Securities Limited publishes an equity commission of Rs 0.03 per share (shares priced Rs 0.01-20.00); 0.15% of trade value (shares priced Rs 20.01 and above). Rates change, so confirm the current rate with the broker before trading.
Who is the CEO of MRA Securities?
The chief executive of MRA Securities Limited is Mirza Muhammad Baig.
Where is MRA Securities's head office?
MRA Securities Limited's head office is at Room 738-741 7th Floor, Stock Exchange Main Building, PSX Karachi, Pakistan..
Does MRA Securities have a mobile trading app?
Yes. MRA Securities Limited offers MRA D-Trade, MRA Wiqaya, Vtrade and Vtrade Touch, available on Android and iPhone.
When was this information last checked?
The facts on this page were last checked against MRA Securities 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.