Everything About Secondary Market, TMS Account, and List of Brokers
Here comes the big guns, a place where a lot of people have gotten rich or failed miserably. This is a place of risk for even the best of the best share market players. A secondary share market is a place of uncertainty. You can either become a millionaire or be broke in a matter of hours.
No matter how dangerous this place is, more people are getting into it day by day. The amount of money this place offers is ridiculous. Even you can enter this market, all you need to do is have a broker/trading or Trade Management System (TMS) account.
What is TMS Account?
A broker or TMS account is an account that is required if you want to start investing or sell your stocks, bonds, and other investments. A broker account is specifically needed if you want to enter the secondary market. The secondary market is where you can buy or sell stocks and bonds of listed companies on the Nepal Stock Exchange (NEPSE).
What do you need to open a TMS account?
- Personal Information
- Three Generation details
- Address Details
- Bank Account Details
- Application Photo
- Citizenship photocopy
- Photo of your signature
How to Open a TMS Account?
You can either fill the TMS account form online or physically go to the respective office. You can simply go to the Sharesansar website to check out the list of brokers from whom you can open a broker account. Either you can choose the broker agencies that is near where you live or go for the best one by conducting proper research and match your requirements. Either way, the services provided by all the broker firms are somewhat similar.
It is important to check out the brokers and their broker number so that you can use them later while opening the broker or TMS account.
You need to go to the URL by checking the broker number which you refer to on the NEPSE website. In order to access this website, you need to access the Nepalstock website.
Click on the New Registration to open a new Online Trading or TMS Account.
After filling up the above form you have to wait for a few days and then your broker/ trading/ TMS account is ready.
Who is a Stockbroker?
A Stockbroker is someone who facilitates the buying and selling of stocks at the stock market, on behalf of investors. You cannot trade directly in stock markets, you are obliged to take the services provided by a stockbroker. A stockbroker levies brokerage charges on investing your money or selling your shares.
Top 10 Best Broker Firm
- Naasa Securities Company Ltd (Broker no. 58)
- Imperial Securities Co. Pvt. Ltd (Broker no. 45)
- Dynamic Money Managers Securities Pvt. Ltd. (Broker no. 44)
- Online Securities Pvt. Ltd. (Broker no. 49)
- Vision Securities Pvt. Ltd. (Broker no. 34)
- ABC Securities Pvt. Ltd. (Broker no. 17)
- Crystal Kanchenjunga Securities Pvt. Ltd. (Broker no. 50)
- Siple Securities Pvt. Ltd. (Broker no. 20)
- Sweta Securities Pvt. Ltd. (Broker no. 25)
- Dipshika Dhitopatra Karobar Co. Pvt. Ltd (Broker no. 38)
These broker firms are based on providing the best turnover, customer satisfaction and the best services provided. The services provided include stock brokerage services, depository services, portfolio evaluation and management, investment research and consulting, private equity, settlement and clearing the order traded in the stock exchange and facilitate in listing with NEPSE.
How to Choose the Best Broker Firm?
While choosing a broker you should consider factors such as commissions on the investments, services, attention to account minimums, watching out for account fees, consider your trading style and tech needs, and take advantage of promotions.
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