The whole route in one picture
These are the steps in order. Most of it is paperwork you do once, and your brokerage firm walks you through most of it.
1A licensed broker
2Your national ID
3Unified code
4A custodian
5Fund the account
Ready for your first order
The steps in detail
- Choose a licensed brokerage firmBuying and selling on the exchange go through brokerage firms licensed by the Financial Regulatory Authority (FRA). How to choose one and check its license is the next lesson.
- Have your national ID readyIf you are 21 or older, the core document is a copy of your national ID. If you are under 21 and hold a national ID, the current rule lets you trade without a guardian's documents, provided your brokerage firm gives an undertaking. Other guardianship cases may require different documents, and the firm will tell you what your case requires. Egyptians abroad without a valid ID can use a machine-readable passport showing the national number, plus proof of residence abroad.
- Get your unified codeThis is your investor number on the exchange; all your dealings are recorded on it. You request it through the brokerage firm, a custodian or Misr for Central Clearing (MCDR), and usually the firm handles it while opening your account.
- Sign with a custodianYour shares cannot be held at MCDR directly; it must be through a custodian. Ask the firm whether it acts as custodian itself or you will sign with another one.
- Fund the accountAsk the firm which deposit methods it accepts and when the money becomes available for buying. Once it arrives, you can send your first order.
Can it be done on the phone?
The FRA has licensed brokerage firms to open accounts digitally: identity checks and contract signing with no paper and no branch visit. Not every firm holds this license, so ask before you start.
ExampleSalma is 24 and her ID expires in 3 years. The account's validity for trading ends with her ID; then she must update her documents to renew it. Had she lived abroad and used a machine-readable passport valid for 10 years, the account's validity for trading would still be 7 years at most, followed by a document update.
Watch outIf 24 full months pass with no buy or sell at all, the account is classed as dormant and you cannot sell from it until a brokerage firm reactivates it. If you have not traded for a long time, ask your firm before you need to sell.
Start watching while the account opens
While the account gets ready, build a watchlist of the stocks you want to understand and follow them daily.
Check yourself
1. Who can request your unified code?
The unified code is requested through any of those three.
2. No buy or sell on an account for 25 months. What may happen?
After 24 full months with no trade, the account is dormant and a brokerage firm must reactivate it.
Summary
- The order: licensed firm, ID, unified code, custodian, money.
- The unified code is your number on the exchange; your shares sit with a custodian.
- The account's validity for trading ends with your ID, 7 years at most, and it goes dormant after 24 full months with no buy or sell.