UrduGuidelines for Customers of Commodity Futures Brokers
Do’s
1. Verify the authenticity of a Broker and its branches from the list of registered brokers and branches available on PMEX website (https://www.pmex.com.pk/existing-trec-holders/)
2. Do your research before deciding to invest your money in the futures market
3. Carefully read and understand the terms and conditions along-with Risk Disclosure Document
4. Ensure that all information is accurately filled in the Account Opening Form and a signed copy of the form is retained for future reference
5. In case of any change in information provided in the Account Opening Form, immediately communicate in writing to Broker
6. Only deposit payments to PMEX as per Automated Direct Funds Model through cross cheque/Pay Order/RTGS (Over the Counter – OTC) or online transfer (Sub-Collection Account – SCA) from your own bank account registered with PMEX
7. Ensure that Broker sends daily, weekly, monthly account balance and activity statements to know the trade activity and cash balances in the trading account
8. Ensure that SMS alerts for deposits, withdrawals and trades are received on mobile number registered with PMEX
9. Approach PMEX in case of any complaint that remains unresolved by the Broker
Dont’s
1. Do not deal with Brokers or their branches not registered with PMEX
2. Do not give wrong, contradictory or incomplete information in the Account Opening Form
3. Do not give cash or issue cross cheque, pay order, demand draft or any other instrument in the name of Broker, or any of its employee/authorized representative
4. Do not deposit payments in cash in your account
5. Do not deposit payments through third party cheque or online transfer from third party account
6. Do not get misled by alluring advertisements, rumors, hot tips or the promises of assured returns by the Brokers or their authorized representatives
7. Do not invest/deposit more funds than you can afford to lose
8. Do not share personal ID and password of trading account provided by the Exchange with the Brokers or their authorized representatives
9. Do not execute any trade on advice/direction of the Broker or any of its employee/authorized representative
10. Do not enter incorrect information while filling out deposit slip (Over the Counter – OTC) or adding Sub-Collection Account (Online Transfer) during funds deposit. Any claim due to any error by the customer or banks shall not be considered/entertained by PMEX
11. Do not surrender the right of receiving cash and trade balances reports via email and SMS
12. Do not start trading before reading and understanding the terms and conditions and Risk Disclosure Document
13. Do not give deposit by whatever name called, to any Broker or any of its employee/ authorized representative against fixed or guaranteed returns on deposits as the same is illegal and any claim in respect of such deposits would not be considered/entertained by PMEX
