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How to create TMS account in Nepal?

Online trading platforms such as the Trade Management System (TMS) have made it easier to invest in stocks in Nepal. However, you must first open a broker account with one of Nepal's authorized brokers in order to begin trading. This thorough tutorial will assist you in opening a broker account and beginning stock trading.

The Significance of a Broker Account

Your first step in trading equities on Nepal's secondary market is opening a broker account, which enables you to purchase and sell shares listed on the Nepal Stock Exchange (NEPSE). It gives investors access to the stock market and a platform for online transaction management, whether they choose to use online tools like TMS or deal directly with brokers.

let's look at various steps you need to follow in order to create broker account in Nepal in 2024:

Step 1: Select a Broker

NEPSE has licensed 86 broker companies across Nepal, each providing services to facilitate stock trading. When choosing a broker, consider factors such as:

- Location: Select a broker close to your residence or workplace if you plan to visit the office occasionally.

- Services: Some brokers may offer additional services, like investment advice or mobile trading apps.

- Fees: Most brokers don't ask for account opening fees. Check for any account fees or trading commission differences between brokers.

Step 2: Prepare the Necessary Documents

To open a broker account, you’ll need the following documents:

- Citizenship Card or National ID: This serves as proof of your identity.

- Passport-Sized Photograph: Generally, one or two recent photos are required.

- PAN Card : This is not mandatory

- Bank Account Information: You’ll need details of a bank account for fund transfers to facilitate online trading.

- BOID (Beneficial Owner ID): This 16-digit number is provided when you open a Demat account.

Step 3 : Fill Online Trading Account Opening Form

Go to your choice of brokers online portal usually accessed through https://tmsHH.nepsetms.com.np/

(Where HH is the broker code provided for each broker.)

Click on New Registration found just below login button. You will see multiple (usually 5 to 6) steps online form filling

process. The fields marked with red sign are mandatory and others are optional.

Let's have a look at various information you need to fill the form.

General Information

- Client Type: Indicates whether you’re an individual or an institution setting up the account.

- Mobile Number: Your personal contact number, used for account verification and communication.

- Member Branch: The specific branch of the brokerage firm where your account is registered.

- PAN: The Permanent Account Number, which is essential for tax purposes and is often not mandatory.

- Email: Your email address for account notifications, confirmations, and alerts.

Address Information

- Permanent Address: Your official, long-term residence address.

- Temporary Address: A secondary address where you’re currently residing, if different from your permanent address.

Bank Details

- Bank Name: The name of your bank, which will be linked to your trading account for fund transfers.

- Branch: The specific branch of your bank where your account is held.

- Account Type: Indicates whether your account is Savings, Current, or another type.

- Account Number: Your bank account number, used for transactions related to stock purchases or sales.

Depository Details (Beneficiary Owner Identity Number)

- BOID: The Beneficiary Owner Identity Number, a unique 16-digit code associated with your Demat account, necessary for holding securities electronically.

Document Details

- Photo Upload: A recent passport-sized photograph, typically required for account identification.

- Citizenship Upload: A scanned copy of your citizenship certificate or government-issued ID for identity verification.

- PAN Upload: An upload of your PAN card, essential for tax and account verification.

After you fill all the fields you need to submit the application and schedule a date for office visit.

Step 4: Visit the Respective Broker's Office for KYC Verification

Once you have completed the online registration process, visit your broker's office for Know Your Customer (KYC) verification. During this step, the broker will verify the details and documents you have provided.

After successful verification, you will receive the following via your registered email within 2 business days:

- Client Code: A unique identifier (username) assigned to you by the broker.

- Password Setup Link : You will receive a link to setup password for your TMS account.

Create a secret password by following provided guideline.

Step 5 : Log into your TMS account using your credentials and enjoy trading.

In Nepal, opening a broker account is a simple procedure that provides access to stock trading options. You may investigate and profit from Nepal's stock market, increasing your investing potential, using TMS portal of the appropriate broker.

Keep following HowNepal for answers to more HowTo questions on Investing, managing finances and more.