FDM Capital Securities (Pvt) Ltd.
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FDM Capital Securities (Pvt) Limited was incorporated as a private limited company in accordance with the provisions of Companies Ordinance 1984 in June 2001. The company is registered with the Securities and Exchange Commission of Pakistan (SECP) to undertakes brokerage businesses.

The company is a Corporate Member of the Pakistan Stock Exchange Guarantee Limited (PSX) as well as National Commodity Exchange Limited (NCEL) to effectively and efficiently facilitate trading on all counters of the capital and commodity markets of Pakistan.

FDM offers comprehensive set of services of Capital market ranging from equity brokerage to financial advisory of complex transactions. FDM is one stop shop for all financial investment opportunities for Equity Market instruments, Money Market instruments & Strategic Buy / Sell of Corporate & small and medium enterprises.

FDM proudly offers its equity brokerage services to facilitate trading in stock & shares listed in Pakistan Stock Exchange to individual and corporate clients.

We strive to provide courteous and quick response to our client's needs and information through access to our comprehensive research base data on companies listed in the stock market.


To be the the leading platform for faciltating complete transactions of capital and money market around the globe known for its good governance and compliance with.


  • To provide the complete range of financal services including brokerage services, investment advisory; corporate finance services, money market dealings and other ancilalry services related to financial market to all our valued clients;

  • To maximize the value and returns to the shareholdes provide;

  • To provide a learning and growth oriented platform to all our employees;

  • To provide a fair treatment to all other stakeholders

  • To make a constructive contribution for the development of fianaical market in Pakistan and Other developing countries of the world.


In pursuance of our vision and mission, FDM intends to offers complete range services of financial market operations. At present FDM proudly offers following services in capital and money market.

Equity Brokerage

FDM, being the corporate member of Pakistani Stock Exchange, faciliates tarding on all counters of PSX namely;

  • Regular Market

  • Future Market

  • Continuous Funding Market

  • Odd Lot Market

  • IPO Market and

  • Cash Setteled Future Market

FDM assures real time execution of all transactions through dedicated team of experienced equity dealers/ traders and state of the art transaction processing system to minimize the risk due to human errors like recording of convsersation , real time confirmation of orders through SMS, daily emails and regular account statements with lowest transaction cost.

In addition to our in-house risk management measures we are fully compliant with the risk management measures indtrodcued by the PSX and Securtites & Exchaneg Commission of Pakistan to ensure the good governance of the capital market of Pakistan.

Introduction about brockage house

The FDM Capital Securities (Private) Limited (FDM) was incorporated as private limited company under the Companies Ordinance 1984 on 29th June 2001. The company is also registered under the Securities and Exchange Commission of Pakistan as a broker on 21st November 2001.

FDM Capital Securities (Pvt) Ltd is a corpoarte member of Pakistan Stock Exchange and Pakistan Mercantiles Exchange Limited. FDM is a registered broker with Securities & Exchange Commission of Pakistan.

Prior to corporate membership of stock exchange since 1995 the business was managed under the name and style of �Muhammad Farooq Moosa Dharwarwala� a sole proprietorship concern.


Our team comprises of experienced and qualified professionals with hands on experience of capital market, financial advisory, accounting, and corporate advisory as well as research.

Following are credentials of senior members of our management;



CONTACT - 092 (021) 2275052

Mr. Muhammad Farooq Moosa Dharwarwala, a well known figure of business community particularly capital market. He has been in the business of brokerage industry since 1995 under the name and style of Muhammad Farooq Moosa Dharwarwala which was then brought under the umbrella of corporate culture through incorporation of FDM Securities (Pvt) Ltd. As CEO he has established corporate image of the company. Under his leadership, the company recorded tremendous growth in clientele, revenue and capital. He contributed his knowledge and has shared his rich experience to design develop and the business process of the new born corporate entity to ensure the compliance with good governance practices.

Mr. Muhammad Farooq is also working as director of Korangi Roller Floor Mills (Pvt) Ltd efficiently and effectively discharging his responsibilities in respect of operations of the company strategies of expansion growth and budgetary measure.

In addition to the working experience of capital market, he also has working exposure in commodity market of gold, cotton and grains seed.



CONTACT: - 092 (21) 2275051

Mr. Muhammad Munir has versatile and rich experience of banking, capital, commodity and currency market. He is the sponsor major shareholder of FDM Capital Securities (Pvt) Ltd and is managing day to day operations of the company under the leadership of Mr. Muhammad Farooq Moosa Dharwarwala. He has contributed his knowledge and experience of capital market in setting up of Initial Public Offering, Underwriting Division and Research Wing at FDM with in a span of five years to support the corporate image of FDM.

Prior to FDM, he had worked at Habib Bank Limited in various capacities which lead him to gain the experience of core banking operations. He has also worked for quite some time with many brokerage houses in the capacity of traders of securities on behalf of the member.

In addition to his rich experience of brokerage, banking industry, he has sound experience of gold and currency markets.



JSIB Associates (Pvt) Ltd is acting as Research & Financial Advisor . JSIB is privileged with the expertise of qualified Chartered Accountants & experienced financial consultants having rich experience of financial research & advisory.



Mr. Tahir Alvi is a commerce graduate from University of Karachi in 2008 and he has gained 12 years of experience in capital market through his service in various capicities in the group. At present he is performing his duties as a chief of operation officer at FDM Capital Sec. since 2019.



CONTACT: +92 (21) 32216095

Mr. Ayub Deshi, a commerce graduate, has more than 14 years of hands on experience in capital market trading. Mr. Deshi has also served Habib Bank in various capacities till 1995. Besides having a bachelor degree in commerce Mr. Deshi has earned many certifications in the arena of Equity as well as commodity market dealing. He is a veteran analyst of market with strong practical knowledge of Stock Exchange Index movement. At FDM he is working as the Head of Equity Sales Department since 2003.

Details of Auditor

Rahman Sarfaraz Rahim Iqbal Rafiq

Chartered Accountants, A member of
180 Block A S.M.C.H.S Karachi.

Legal Advisor

M.S. Qurashi

Room No.3&4,2 Floor ,
Rubab Bai Building ,
New Challi, Karachi.

Details of Agent/Registered offices and branches


Suite No - 620621
6th floor PSX, Building
Off: I.I Chundrigar Road,
Phone: +92-21-32427176 & 32275157
Reg. No. ARP – 036


Suite No - 058,
1st Floor PSX , Building,
Off: I.I Chundrigar Road,

Phone: +92-21-32218174 & 32214734


In pursuance of our vision and mission, FDM intends to offers complete range services of financial market operations. At present FDM proudly offers following services in capital and money market.

Online Trading

FDM, as part of its client focus, intends to facilitate our clients with easy , accessable, hassel free, low cost and realtime equity trading option of WEB TRADING. Our web tarding application facilitate on line trading in all counters of Pakistan Stock Exchange through state of the art system and dedicated human resource with primary features like real time execution of orders, confirmation through SMS, low cost of transaction, no minimum balance requirements.

Custodian of Shares

We also act as independent custodian of shares for and on behalf of our valued clients as part of fund management.


Dealing in capital market with out knowledge and research may be proved as loss of huge money. In order to serve our valued clients, our research team have continuous monetring of the political and economic changes at national and intenational level, developments in the companies, sectors developments in the sectors ect.

Our research mainly focuses following areas

  • Review of geo political changes at national and internation level

  • Performance review of the companies including review of business & financial models, review of histroical trends as well as esitmation of future earnings and fair values

  • Performance review of the sectors

  • Performance review of the capital market of Pakisatn as well as of the region

  • Techincal analysis of prices of the scrips, average price of the sector and market

Financial Advisory

We also offer wide range of financial advsiroy services which includes the following.

  • Initial Public Offerings

  • Offer for Sale

  • Tender Offerings

  • Fund Raising through issuance of Debt Securities

  • Term Debt Syndication

  • Underwritings

  • Financial Advisory & Arrangments

  • Restructuring Advisory

  • Privatization Advisory and

  • Business Valuations

  • Preparation of Business Plans for new entrants

  • Financial & Corporate Advisory for new entrants.

Financial Advisory For Protfolio/ Fund Management

We also offers our financial advisory services in respect of portfolio /fund management to high net worth individuals, corpoarte entities as well as retirement benefits funds with the objective to maximize the returns of invetsors and to minimize associated risks. These services includes.

  • Assistance in respect of devising investment strategy with a view to properly address associated risk.

  • Implentation of investment strategy.

  • Execution of Trading.

  • Portfolio Risk Review.

Strategic Investment Advisory

For the first time in the history of Pakistan, FDM confidently offers an organised platform for the potential strategic buyers, sellers and venturers to indentify, evaluate and execute strategic transactions with out any loss of reputation/goodwill and value.

To ensure complete confidentaility of the potential buyers/sellers/venturers, target companies, we unconditionally offer our commitment to maintian the confidentiallity of the information till the successful closure of the transaction.

We offer our this unique service to all potential buyers and sellers for providing complete and unmatched assistance in respect of the following main areas; namely

  • Identification of the target sector
  • Identification of Target Company
  • Pre-Feasibility Study of the Target Company
  • Preliminary Business Valuation
  • Final Feasibility study
  • Final Business Valuation
  • Arrangment of Funds and transaction structure
  • Complete execution of Transaction
  • Preparation of Information Memorandum
  • Preliminary Valuation of Company
  • Identification of the Buyer
  • Final Business Valuation and Transaction structure
  • Complete execution of Transaction
  • Preparation of Information Memorandum
  • Preliminary Valuation of business
  • Identification of the potential investor
  • Final Business Valuation and Transaction structure
  • Complete execution of Transaction

DISCLAIMER : “In case your complaint has not been properly redressed by us, you may lodge your complaint with Securities and Exchange Commission of Pakistan (the “SECP”). However, please note that SECP will entertain only those complaints which were at first directly requested to be redressed by the Company and the company has failed to redress the same. Further, the complaints that are not relevant to SECP’s regulatory domain/competence shall not be entertained.”

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