Open a brokerage account in Uzbekistan and connect it
Редакция Finmind · · Время чтения: 7 мин.
Эта статья пока недоступна на русском языке, поэтому показан английский текст.
Who is licensed to open a brokerage account in Uzbekistan, the steps to open one, what the fondbozori.uz credentials are and how to connect it to Finmind.
Finmind is not a broker and does not open brokerage accounts. To hold real shares and bonds traded on the Republican Stock Exchange «Toshkent» (UZSE), you open a brokerage account with a licensed investment intermediary that is a member of the exchange. Once it exists, you connect it to Finmind, which reads its cash and holdings and shows them on your Portfolio page. Connecting is free. This guide explains who may open a brokerage account for you, what the steps are, what the terminal credentials your broker hands you mean, and where to enter them in Finmind.
Who is licensed to open one
A brokerage account can only be opened by an investment intermediary that holds a licence. The licence is issued by the regulator, the National Agency of Perspective Projects (NAPP), and the register of investment intermediaries and their licences is published on the agency's disclosure portal, openinfo.uz (read on 26 September 2026). The intermediary must also be a member of the exchange: UZSE publishes its member list at uzse.uz/exchange/members (read on 20 September 2026).
Before you sign anything, verify the licence with the regulator yourself. Look the company up by name in the openinfo.uz register and confirm its membership on uzse.uz. Do not rely on a list in an article, including the one below.
Member companies classed as brokers
The list below is neutral and alphabetical. It comes from the member registry of the fondbozori.uz terminal (POST main/mbcoNo.do), pulled 16 September 2026, 73 members of which 44 are classed as brokers by Finmind's own rule (the rest are banks, depositories and registrars and system entries). The member number is in parentheses. The list is a snapshot: members join and leave, and the live list is the one shown in the Finmind connect form.
- ABRAU CAPITAL (00488)
- ALKES RESEARCH (00494)
- ALP OMAD INVEST (00416)
- ANALYTICS SERVICES (00499)
- ANSHER CAPITAL (00483)
- AVESTA INVESTMENT GROUP (00504)
- Bluestone Financial Group Inc (00485)
- DALAL STANDARD (00382)
- DILARES (00452)
- FIN SERVIS (00470)
- FINANCE INVEST BROK (00496)
- Freedom Finance (00476)
- FULL STOCK GROUP (00453)
- GEM STONE CAPITAL (00491)
- GENEZIX CAPITAL (00493)
- GLOBEMARKETS (00501)
- GOINVEST (00070)
- HBCapital (00442)
- HYT-CAPITAL (00077)
- IDROK (00228)
- ISHONCH FINANCE CAPITAL (00444)
- KAPITAL SECURITIES (00506)
- LEADER FINANCE (00440)
- LEADER FINANCE CAPITAL (00495)
- LEMAN CAPITAL (00477)
- LEVERAGE (00481)
- Mosaic Financial (00492)
- MULK-SARMOYA BU (00447)
- NAYMON INVEST CONSULTING (00472)
- O'zbekinvest Sarmoyalari (00241)
- ONLINE BROKER INTERNATIONAL (00482)
- Orient Securities (00412)
- PORTFOLIO INVESTMENTS (00454)
- Premium Finance (00480)
- RB ASIA (00486)
- RIEMANN FINANCE (00490)
- SATORI CAPITAL (00498)
- SILK CAPITAL (00479)
- SQBFACTORING (00484)
- TBC Capital (00503)
- TOSHKENT INVESTITSIYA MAJMUI (00439)
- Vaqt Investitsiya kompaniyasi (00458)
- YES INVEST MANAGE (00487)
- САМО-РС (00467)
A bank can also act as an investment intermediary: the same registry lists several banks as members, and if your brokerage account is held through a bank, its member number is the one you use. Finmind does not rank, rate or recommend any of these companies. Commissions, minimum deposits and the ways to place orders differ from one to another, so ask each company directly and compare before you choose.
Steps to open a brokerage account
- Choose a broker. Pick a licensed investment intermediary from the register and confirm its licence and UZSE membership as described above.
- Identification. The broker verifies who you are. This usually means your passport or ID card; some brokers do it remotely through their own app, others in an office.
- Sign the brokerage agreement. Read it in full, including the commission schedule and the ways the broker accepts orders.
- The depository account. Shares exist as records in the depository system, with the Central Securities Depository at its centre. The broker arranges the depository account for you. Some brokers register the client's terminal login under their own depository member: in that case the member number your broker gives you is the one you enter in Finmind, whatever the company name on the agreement says.
- Deposit money. Transfer money to the brokerage account by a method the broker accepts. It has to be credited before you can buy anything.
- Receive the terminal credentials. The broker issues your fondbozori.uz login details. Keep them safe and never send them in a chat or an email.
What the fondbozori.uz terminal credentials are
fondbozori.uz is the state-run trading terminal (the WTS web terminal and the MTS mobile terminal) through which every order on UZSE passes; the "Start trading" links on uzse.uz lead there (read on 20 September 2026). Whichever broker you choose, your orders end up in this terminal, and this is why Finmind can read any brokerage account whose owner logs in there. Your broker gives you four things:
- Account ID: the terminal login your broker issues, an identifier of letters and digits in the style of IIS53108. Finmind shows it masked, with only the first two and last two characters visible.
- fondbozori.uz password: the password you use to log in to the terminal.
- Inquiry PIN: a separate PIN the terminal asks for when you query the brokerage account, as opposed to placing an order.
- Member company number: the five-digit number of the member company through which your brokerage account is held, in the style of 00476. In the terminal's own data it is called mbco_no.
If any of these is missing, ask your broker. Finmind cannot issue or reset them.
Connecting it in Finmind
- Sign in to your Finmind account and open Brokerage (the page is at /brokerage).
- In the Connect a brokerage account form, enter a Label, a name only you see.
- Enter your Account ID.
- Under Member company, pick your broker. The picker has a search box that filters by name or member number. If your broker is not there, choose Other… and type the member number.
- Enter your fondbozori.uz password and Inquiry PIN, then press Connect brokerage account.
- Finmind queues a first sync. When it finishes, open Portfolio to see your live cash and holdings, and press Sync now whenever you want fresh numbers.
How the password and PIN are stored, how they are encrypted and how to disconnect are covered in the connect guide. How the trade itself works, from order types to what to check before you buy, is in how to buy shares.
Frequently asked questions
No. Finmind is not a broker, holds no investment intermediary licence and is not a member of the exchange. You open the brokerage account yourself with a licensed intermediary, and Finmind connects to the finished brokerage account using the credentials that intermediary gives you.
Any broker whose clients log in to fondbozori.uz. Because every UZSE order passes through that terminal, this covers brokerage accounts opened for UZSE securities in Uzbekistan. You need the account ID, the password, the inquiry PIN and the member number.
The one your broker gives you. Usually that is the broker's own member number, but if your broker registered your login under another depository member, it will tell you that number instead. If you are not sure, do not guess: ask the broker, because a sync with the wrong number fails.
Yes. Connecting a brokerage account, syncing it and seeing it on the Portfolio page is free for every Finmind user. A free Finmind account is enough; paid features are only needed for separate tools such as automation.