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Rafi Securities

Rafi Securities (Private) Limited, formerly Malik Rafi & Co.

  • PSX TREC 159
  • Active
  • Trading & Self-Clearing
  • Karachi

Data last checked 30 Oct 2026. Spot an error? Tell us.

Key facts

  • Rafi Securities (Private) Limited is a Pakistan Stock Exchange trading & self-clearing broker, licence TREC 159, listed as "Active" on the PSX register.
  • It is based in Karachi.
  • Its largest shareholder is Naeem Rafi, with 96.718%.
  • Its chief executive is Naeem Rafi.
  • 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.

At a glance

PSX licence
TREC 159, status "Active" on the PSX register
Office
1004, 10th Floor, Al-Rahim Towers, I.I. Chundrigar Road, Karachi, Pakistan.
Phone (PSX register)
111-159-111
Website
rafionline.com
Tariff page
rafisecurities.com/commission-structure-charges-detail
Complaints page
rafisecurities.com/customer-support
Account opening
rafisecurities.com/open-psx-account
Research page
rafisecurities.com/research
Financial disclosures page
rafisecurities.com/financials

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.

ChargeApplies toRateSource
Annual account fee
Trading account maintenance (annual)
allTrading Account Maintenance Charges are Rs 1,000 Annuallysource: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
CDC charges
CDC handling on delivery sale/purchase
allCDC handling: Rs 0.004 per share on delivery sale/purchasesource: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
CDC charges
CDC investor account charges (annual)
allCDC Investor Account Charges: Rs 1,000 Annually (If Applicable)source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
CDC charges
CDC shares transfer (inward/outward)
allCDC shares transfer charges (inward/outwards): Rs. 0.004 per share (If Applicable)source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
CDC charges
CDC transfer of physical shares to CDC
allCDC charges for transfer of physical shares to CDC: Rs 0.30 per share (If Applicable)source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
Equity commission
Equity commission (PSX)
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 calls this the minimum commission set by SECP. Day-trade commission is charged on one side only. Sindh sales tax of 13% is added to the commission.
source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
Other charge
Fixed annual CGT fee for local investors (tiered by traded value)
allRs 0 if your traded value is under Rs 100,000; Rs 240 (Rs 100,000 to under Rs 5 million); Rs 360 (Rs 5m to under 10m); Rs 600 (Rs 10m to under 50m); Rs 1,800 (Rs 50m to under 100m); Rs 5,000 (Rs 100m to under 500m); Rs 20,000 (Rs 500m to under 1bn); Rs 30,000 (Rs 1bn to under 5bn); Rs 50,000 (Rs 5bn and above)
As published: A Traded values less than Rs. 100,000.00 0 0; B Traded values from Rs. 100,000 and less than Rs. 5 Million. 240 240; C Traded values from Rs. 5 Million and less than Rs. 10 Million. 360 360; D Traded values from Rs. 10 Million and less than Rs. 50 Million. 600 600; E Traded values from Rs. 50 Million and less than Rs. 100 Million. 1,800 1,800; F Traded values from Rs. 100 Million and less than Rs. 500 Million. 5,000 5,000; G Traded values from Rs. 500 Million and less than Rs. 1 Billion. 20,000 20,000; H Traded values from Rs. 1 Billion and less than Rs. 5 Billion. 30,000 30,000; I Traded values Rs. 5 Billion and above. 50,000 50,000
A fixed fee charged once a year, with the tier set by your traded value. The broker's table shows the same amounts for filers and non-filers.
source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
Other charge
NCCPL UIN charge (annual)
allNCCPL UIN Charges are Rs 200 Annuallysource: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
Other charge
Odd lot trade charge (NCCPL)
allRs 5 per odd-lot trade (NCCPL charge)
As published: ODD LOT trade charges would be Rs. 5/- per trade by NCCPL.
source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026
Other charge
Sindh Sales Tax on commission
all13% of the commission (Sindh sales tax)
As published: Sindh Sales Tax (SST): 13% of Commission
A provincial tax added on top of the broker's commission.
source: rafisecurities.com/…/on-structure-charges-detail, checked 13 Oct 2026

Ownership

HolderTypeShareSource
Naeem Rafi
9,671,800 of 10,000,000 shares (the broker's table rounds this to 97%). Chief Executive. From the Pattern of Shareholding on the broker's governance page (undated; seen Oct 2026).
Individual96.718%source: rafisecurities.com/governance, checked 13 Oct 2026
Samia Naeem
328,000 of 10,000,000 shares (the broker's table rounds this to 3%). Director. From the Pattern of Shareholding on the broker's governance page (undated; seen Oct 2026).
Individual3.28%source: rafisecurities.com/governance, checked 30 Oct 2026
Muhammad Saleem Mansoori
100 of 10,000,000 shares (shown as '-' in the broker's table). Director; spelled 'Muhammed Saleem Mansoori' in the broker's board profile. From the Pattern of Shareholding on the broker's governance page (undated; seen Oct 2026).
Individual0.001%source: rafisecurities.com/governance, checked 30 Oct 2026
Umer Farooq
100 of 10,000,000 shares (shown as '-' in the broker's table). Listed as Marketing Executive. From the Pattern of Shareholding on the broker's governance page (undated; seen Oct 2026).
Individual0.001%source: rafisecurities.com/governance, checked 30 Oct 2026

People

NameRoleSource
Naeem RafiChief Executivesource: psx.com.pk/…/st-of-TREC-Holders-New-07-05-26.pdf, checked 13 Oct 2026
Muhammed Saleem MansooriDirectorsource: rafisecurities.com/governance, checked 13 Oct 2026
Samia NaeemDirectorsource: rafisecurities.com/governance, checked 13 Oct 2026
Kaleem UllahCompliance Officer and Company Secretarysource: rafisecurities.com/governance, checked 13 Oct 2026
Mudabbir JafriManager Operationsource: rafisecurities.com/customer-support, checked 13 Oct 2026

Services

Mobile apps

AppPlatformPublisherStore rating
VtradeAndroidVisionMax (Private) Limited
Vtrade TouchiPhone / iPadVisionMax (Private) Limited

Technology partners

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.

8 more listed on the broker's site.

Branches and contact

  • Karachi (head office) (head office): 1004, 10th Floor, Al-Rahim Towers, I.I. Chundrigar Road, Karachi, Pakistan., 021-111-159-111
  • Karachi (PSX-Karachi Branch): 518, 5th Floor, Stock Exchange Building, Stock Exchange Road, Off I.I. Chundrigar Road, Karachi-74000, Pakistan., 021-32423744
  • Lahore (Gulberg-Lahore Branch): Room #506, 5th Floor, Al-Hafeez Heights, Gulberg Road, Lahore., 0308-6804425
  • Lahore (LSE-Lahore Branch): Room No.304, South Tower LSE Plaza 19 Khayaban-e-Aiwan-e-Iqbal, Lahore., 042-36310850

email: info@rafisecurities.comfacebook: https://www.facebook.com/RSLsecuritiesinstagram: https://www.instagram.com/rafi_securitieslinkedin: https://www.linkedin.com/company/rslsecurities/uan: 021-111-159-111whatsapp: https://wa.me/923353159159youtube: https://www.youtube.com/@RSLSecurities

Questions about Rafi Securities

Is Rafi Securities a licensed PSX broker?

Rafi Securities (Private) Limited holds Trading Right Entitlement Certificate (TREC) 159 and is listed as "Active" on the Pakistan Stock Exchange register of TREC holders.

Who owns Rafi Securities?

According to its published shareholding, the largest shareholders are Naeem Rafi (96.718%), Samia Naeem (3.28%) and Muhammad Saleem Mansoori (0.001%).

What commission does Rafi Securities charge?

Rafi 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.

Who is the CEO of Rafi Securities?

The chief executive of Rafi Securities (Private) Limited is Naeem Rafi.

Where is Rafi Securities's head office?

Rafi Securities (Private) Limited's head office is at 1004, 10th Floor, Al-Rahim Towers, I.I. Chundrigar Road, Karachi, Pakistan..

Does Rafi Securities have a mobile trading app?

Yes. Rafi 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 Rafi Securities (Private) 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.