Frequently Asked Questions & Answers


How can I begin trading shares in the secondary market?

You need to have a Trading Account and a Demat Account in order to start trading. To download the form for opening a trading account, go to the link below: 

If you have not opened a Demat account yet, you can do so at our partner firm Nepal DP by filling out a form available at our office.


How can I open an account at Midas?

To open an account at Midas, you need to fill up our KYC form along with one passport size photograph and a photocopy of your citizenship certificate.


What documents are needed when submitting KYC form?

The documents needed are one passport size photograph and photocopy of your citizenship certificate.


Are there any charges for opening a broker account?

No, your broker account will be opened free of cost without any charges to you.


What is a DEMAT account?

A DEMAT Account is an account that allows you to hold your shares in an electronic form. As holding shares in physical forms involves a lot of paperwork, long process and risk of fake shares, for simple and seamless trading and investing, DEMAT account is must to trade in Nepal’s Stock Exchange.
 


Can I open DEMAT account from Midas?

Yes, you can open demat account at Midas through our partner firm Nepal DP Limited at a minimum charge of Rs. 200.


What other depository services can be availed through the DEMAT account?

Apart from the DEMAT account services, you can enjoy a wide range of depository services through our partner firm Nepal DP such as:
  1. De-materialization of physical securities held by the beneficial owner (BO),
  2. Re-materialization of securities
  3. Online access of DEMAT account through Mero Share
  4. Facilitate in pledging and unpledging of securities
  5. Facilitate online application of IPO
  6. Settlement trades by transferring/receiving the securities from/in BO accounts,
  7. Settlement of off-market trades that is occurred between BOs outside NEPSE
  8. Others DP related jobs as allowed by laws and regulations in regard to securities depository


What commission rates are applicable when doing share transactions at Midas?

The commission rate is the same all over Nepal, which are as follows:

Transaction amount Commission rate
Upto Nrs. 50000 0.6%
Nrs. 50000 to Nrs. 500,000 0.55%
Nrs. 500,000 to Nrs. 2 million 0.5%
Nrs. 2 million to Nrs. 10 million 0.45%
Above Nrs. 10 million 0.4%

 
Apart from this, all transactions attract 0.015% regulatory fee in addtion to the above brokerage charges.


By when do we have to submit DIS cheque?

DIS (Delivery Instruction Slip) cheque needs to be submitted by the next day of selling shares.


By when do we have to make payment after purchasing shares?

Payment is made based on T+3 settlement system which means that customers need to pay by 3 days after purchasing shares. Settlement will be carried out only after payment has been made.


What is Midas Account and how does it work?

Midas Account is a new and innovative facility through which you can enjoy an array of online trading services at the comfort of your home. Through the semi-online Midas account, you will be able to:
View bills and receipts of your sales and purchases
View your account statement
View capital gain tax report
Place semi-online orders

You can open a Midas Account by simply filling out a form which is available at our office counter.