Every time you trade, our fee is automatically priced into the spread (up to 0.2%). Spread is the difference between the sell and buy price, where the transaction is executed. If you trade on margin, we also have margin rates (for local ZAR Margin trading at +2% long and -1.5% short; and internationally at +2% long or -2% short). We charge up to 50 basis points (0.5%) on the forex spot rate when converting currencies between ZAR and USD.
| Description | ZAR account | ZAR margin account |
|---|---|---|
| Minimum first deposit | R25 | R25 |
| Broker commission | 0% | 0% |
| Settlement and admin | No charge | No charge |
| Platform fee | No charge | No charge |
| Reporting fee | No charge | No charge |
| Inter account Transfer fee (ZAR accounts only) | No charge | No charge |
| SMS notifications | No charge | No charge |
| Cash transfer out/withdrawal | No charge | No charge |
| Increased Spread* | Maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell | Maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell |
| Margin rates | N/A | Long: REPO + 2% ; Short: REPO – 1.5% |
| Interest on margin account | N/A | 0% |
* The spread is the difference between the Bid(sell) and Offer(buy) price where you can execute the transaction. The spread is set by the reference asset / underlying price and is influenced by liquidity and the volatility of the reference asset.
For example, if the bid price is 3.13 and the offer price is 3.18 the spread is the difference between these which is 0.05.
| Description | USD account | USD margin account |
|---|---|---|
| Minimum first deposit | $1 | $1 |
| Broker commission | 0% | 0% |
| Settlement and admin | No charge | No charge |
| Platform fee | No charge | No charge |
| Reporting fee | No charge | No charge |
| Forex account transfer (ZAR to USD) | 50 basis points on forex spot rate | 50 basis points on forex spot rate |
| SMS notifications | No charge | No charge |
| Cash transfer out/withdrawal | No charge | No charge |
| Increased Spread* | Maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell | Maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell |
| Margin rates | N/A | Long: FED FUNDS Rate + 2% ; Short: FED FUNDS Rate – 2% |
| Interest on margin account | N/A | 0% |
* The spread is the difference between the Bid(sell) and Offer(buy) price where you can execute the transaction. The spread is set by the reference asset / underlying price and is influenced by liquidity and the volatility of the reference asset.
For example, if the bid price is 3.13 and the offer price is 3.18 the spread is the difference between these which is 0.05.
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