How to Transfer Shares From One PSX Broker to Another
Updated 2026-11-12 · by FoxLogica
PSX shares are held electronically in the Central Depository Company (CDC) system, either in a sub-account with your broker or in your own CDC investor account. Moving to a new broker generally means opening an account with the new broker, then asking your current broker to transfer your shares to your new sub-account. Forms, fees and timelines differ between brokers, so confirm each step with both brokers and CDC before you start.
Please note: we could not find an official CDC or PSX document describing the exact inter-broker transfer form, so this page describes the general process and what to check, not an official procedure. Always follow the instructions of your brokers and CDC.
Before you start
- Open and activate your account with the new broker. Ask for your new CDC sub-account number and the broker's participant details.
- Check your holdings. List each stock and quantity, and confirm they are in electronic (book-entry) form. Physical share certificates must first be converted to electronic form; see the PSX Knowledge Center.
- Clear dues. Settle any amounts owed to your current broker, and let pending trades finish settling first.
- Look at upcoming corporate actions. Check book closure dates for dividends, bonus or right shares so that entitlements are not delayed or missed by the move.
The general steps
- Send a written transfer request to your current broker (many brokers use their own form or an email request) listing the stocks, quantities and the new broker's CDC sub-account details.
- The brokers complete the transfer through CDC. You may be asked to sign a standard form and to provide ID copies.
- Check the result. Confirm the shares appear in your new account, and compare the quantities. You can also verify your holdings with CDC.
- Keep records. Save copies of the request, any fee receipts and your old statements.
Questions to ask both brokers
- Is there a fee for the transfer, and what does CDC charge?
- How long does it usually take, and does it happen on working days only?
- Will my purchase price (cost basis) history move to the new account? Some investors report that the receiving broker treats the transfer date price as the cost, so keep your own records of what you paid.
- Are there restrictions on certain stocks, such as pledged or blocked shares?
- Can I transfer only some of my holdings?
Common pitfalls
- Starting the transfer around a book closure date and missing a dividend or bonus entitlement.
- Losing track of your purchase price for tax and profit calculations.
- Pledged shares or open positions that block the transfer.
- Assuming all brokers use the same form or timeline.
If you are comparing brokers, look at fees, trading platform, research tools and customer service, and check that the broker is registered with PSX and SECP.
Frequently asked questions
Can I transfer shares from one broker to another in Pakistan?
Yes. Shares held in electronic form in the CDC system can generally be moved between brokers by asking your current broker to transfer them to your account with the new broker. Check forms and fees with both brokers.
Do I have to sell my shares to change brokers?
Not normally. Shares can usually be transferred in kind through CDC, which avoids selling and rebuying, though you should confirm with your brokers.
How long does a broker-to-broker share transfer take?
It depends on the brokers and CDC processing, so ask both brokers for a timeline. Avoid starting it close to book closure dates.
Will my purchase price move to the new broker?
Not necessarily. CDC moves the shares, not your purchase history, so keep your own records of what you paid.
Is this an official procedure?
No. This is a general guide. We could not find an official CDC or PSX document for the exact form, so confirm the steps with your brokers and CDC.
Disclaimer: Trading in stocks and securities involves substantial risk of loss. FoxLogica provides educational content, analytical tools and community insights, not personalized licensed financial advice, and is not a registered brokerage or advisory firm unless separately stated. Nothing here is a recommendation to buy, hold or sell, or a forecast. Past performance is not indicative of future results.