Fees and costs

The Trading Account (ZAR) provides access to both the JSE and International markets from one account across the following asset classes:

Instrument Class

Account Type

Currency

Shares

Cash

ZAR

ETFs & ETNs

Cash

ZAR

Funds

Cash

ZAR

Structured Products

Cash

ZAR

Stocks, Indices,
Commodities, Treasuries (CFDs)

Margin

ZAR

Margin FX

Margin

ZAR


Uniquely, South African-based clients can gain immediate access to global securities without the need to utilise their own individual annual allowance.


 

South African Markets

 

Instrument Group

Charge

Margin Rate

Minimum Trade Charge

JSE Shares & ETFs

0.5%

N/A

R200.00

Top 40

R7.00

3%

No Min Fee

ALSI Futures

R20.00

6% – 8%

No Min Fee

ALMI Futures

R10.00

6% – 8%

No Min Fee

JSE CFDs

0.35%

5% – 25%

R100.00

 

* All CFDs incur a premium.
* All equities exclude statutory fees.


Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Typically, more than 50% of retail investors lose money when trading CFDs with Velocity Trade Capital (Pty) Ltd. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Should you decide to proceed and transact in OTC derivatives with us, you hereby undertake to acknowledge this warning.

 

International Markets

 

Shares and ETFs

Market

Exchange

Symbol

Commission

Minimum Trade Fee

US

New York Stock Exchange

NYSE, ARCA

0.50%

USD 20.00

US

NASDAQ

NASDAQ, NSC

0.50%

USD 20.00

UK

London Stock Exchange

LSE_SETS

0.50%

GBP 20.00

Austria

Vienna Stock Exchange

VIE

0.50%

EUR 30.00

Belgium

NYSE Euronext Brussels

BRU

0.50%

EUR 30.00

Denmark

NASDAQ OMX Copenhagen

CSE

0.50%

DKK 30.00

Canada

Toronto Stock Exchange

TSX

0.50%

CAD 20.00

Finland

NASDAQ OMX Helsinki

HSE

0.50%

EUR 30.00

France

NYSE Euronext Paris

PAR

0.50%

EUR 30.00

Germany

Deutsche Borse (Xetra)

DAX

0.50%

EUR 30.00

Italy

Milan Stock Exchange

MIL

0.50%

EUR 30.00

Netherlands

NYSE Euronext Amsterdam
(AEX)

AMS

0.50%

EUR 30.00

Norway

Oslo Stock Exchange

OSE

0.50%

NOK 30.00

Portugal

NYSE Euronext Lisbon

LISB

0.50%

EUR 30.00

Spain

BME Spanish Exchanges

SIBE

0.50%

EUR 30.00

Sweden

NASDAQ OMX Stockholm

SSE

0.50%

SEK 30.00

Switzerland

SIX Swiss Exchange

SWX, VX

0.50%

CHF 30.00

 

CFDs

 

Equity CFDs

CFD Premium

Margin Rate

Minimum Premium

US Stocks

0.30%

5.00%

USD 20.00

UK Stocks

0.30%

5.00%

GBP 20.00

German Stocks

0.30%

5.00%

EUR 20.00

 

Index CFD’s

Margin Rate

Spread

Commission

US30 (DJIA)

1.00%

2.50

ZAR 4.50 per share

US500 (S&P)

1.20%

1.00

ZAR 2.00 per share

USTEC (Nasdaq)

1.20%

2.00

ZAR 3.20 per share

UK100 (FTSE 100)

2.80%

2.00

ZAR 4.00 per share

STOXX50 (EuroStoxx)

2.80%

2.00

ZAR 3.40 per share

GER40

2.30%

2.00

ZAR 4.00 per share

FR40 (CAC)

2.30%

2.00

ZAR 5.60 per share

AUS200 (ASX)

2.50%

2.00

ZAR 3.80 per share

HK50 (HSI)

6.10%

7.00

ZAR 2.30 per share

 

Commodity CFDs

Margin Rate

Spread

Commission

BRENT *

6.20%

7.00

ZAR 7.60 per share

GOLD

1.50%

2.00

ZAR 1.00 per share

SILVER

1.50%

2.00

ZAR 5.20 per share

Cocoa

3.00%

3.50

ZAR 21.20 per share

Coffee Arabica

3.00%

3.00

ZAR 4.00 per share

Coffee Robusta

3.00%

3.00

ZAR 8.00 per share

Cotton

3.00%

15.00

ZAR 2.60 per share

Orange Juice

3.00%

12.00

ZAR 12.00 per share

 

* Important information regarding the trading of BRENT and WTI:

BRENT and WTI CFD instruments are futures contracts that expire on a monthly basis. Clients holding these instruments on expiry dates will have their positions rolled over into the new contracts.

New contracts have different prices from the expired contracts they are replacing. Clients holding the CFD will therefore experience a shift in their positions’ value at the time of the roll relative to the difference in contract value. These positions will then be readjusted accordingly to their natural pre-expiry value within 24 hours of contract renewal via an adjustment of the account cash balance.

 

Treasuries

Margin Rate

Spread

Canada Bank 3 Month

3.00%

3.00

Canada Bond 10 YR

3.00%

6.00

Euribor

3.00%

2.00

Japan JGB

3.00%

4.50

US Dollar Index

3.00%

N/A

 

Margin FX

Margin Rate

Spread

Commission

AUD/CAD

1.00%

5.00

ZAR 76.00 per share

AUD/CHF

1.00%

3.00

ZAR 67.00 per share

AUD/JPY

1.00%

3.00

ZAR 43.00 per share

AUD/NZD

1.00%

2.50

ZAR 32.00 per share

AUD/USD

1.00%

3.50

ZAR 63.00 per share

CAD/CHF

1.00%

3.50

ZAR 65.00 per share

CAD/JPY

1.00%

3.00

ZAR 45.00 per share

CHF/JPY

1.00%

3.50

ZAR 53.00 per share

EUR/AUD

1.00%

4.00

ZAR 54.00 per share

EUR/CAD

1.00%

4.00

ZAR 61.00 per share

EUR/CHF

1.00%

3.00

ZAR 82.00 per share

EUR/GBP

1.00%

3.00

ZAR 76.00 per share

EUR/JPY

1.00%

3.00

ZAR 45.00 per share

EUR/PLN

1.00%

18.00

ZAR 32.00 per share

EUR/SEK

1.00%

30.00

ZAR 80.00 per share

EUR/USD

1.00%

1.00

ZAR 45.00 per share

EUR/ZAR

1.00%

100.00

ZAR 150.00 per share

GBP/AUD

1.00%

4.00

ZAR 63.00 per share

GBP/CAD

1.00%

6.50

ZAR 89.00 per share

GBP/CHF

1.00%

4.00

ZAR 82.00 per share

GBP/JPY

1.00%

5.00

ZAR 72.00 per share

GBP/NZD

1.00%

8.00

ZAR 95.00 per share

GBP/USD

1.00%

4.00

ZAR 78.00 per share

GBP/ZAR

1.00%

135.00

ZAR 211.00 per share

NZD/CAD

1.00%

4.50

ZAR 55.00 per share

NZD/CHF

1.00%

4.50

ZAR 69.00 per share

NZD/JPY

1.00%

3.50

ZAR 48.00 per share

NZD/USD

1.00%

3.00

ZAR 47.00 per share

USD/CAD

1.00%

3.00

ZAR 52.00 per share

USD/CHF

1.00%

3.00

ZAR 60.00 per share

USD/JPY

1.00%

2.50

ZAR 42.00 per share

USD/ZAR

1.00%

100.00

ZAR 150.00 per share

ZAR/JPY

1.00%

8.00

ZAR 20.00 per share

 

*Additional instruments and markets are available on request.

Note: Non-equity instrument spreads are affected by market liquidity which varies throughout market trading hours.

 

South African Statutory Fees

 

Fee or Tax Type

Cost

STRATE

0.005787% (excluding VAT) based on the value of the share transaction:

• The minimum is R10.19 for trades with a value up to R176,000.00

• The maximum is R73.49 for trades with a value over R1,270,000.00

This fee is for the electronic settlement of your share transactions through STRATE, the electronic settlement authority.

FSCA Investor Protection
Levy

0.0002% (excluding VAT) on all trades (excluding international markets)

Custody

0.20% per annum (excluding VAT) levied monthly on an account by account basis:

JSE Shares:

• Minimum of R50.00 per month

• Maximum of R200.00 per month

International Shares:

• Minimum of USD/EUR/GBP 5.00 per month

SAFEX & Clearing

SAFEX fees are based on a percentage of the closing price of the Index future. Trade fees quoted are ALL inclusive of commissions, VAT and SAFEX and Clearing fees.


Global Statutory Fees and Taxes

 

Country

Name

Tax Code

Side

Rate

France

Financial Transaction Tax

FRFTT

Buy

30 bp

Hong Kong

Stamp Duty

HKSTAMP

 

10 bp

Hong Kong

Trading Fee

HKTRAD

 

0.5 bp

Hong Kong

Trading Levy

HKLEVY

 

0.27 bp

Ireland

Stamp Duty

IESTAMP

Buy

100 bp

Ireland

Levy

IELEVY

 

Gross 12,500.00 and above: 1.25 / allocation

Italy

Financial Transaction Tax

ITFTT

Buy

10 bp

United Kingdom

Levy

GBLEVY

 

Gross 10,000.00 and above: 1.00 / allocation

United Kingdom

Stamp

GBSTAMP

Buy

50 bp

United States

Sec Fee

USSEC

Sell

0.231 bp


Administrative Costs


Service

Fee (ex VAT)

Description

Withdrawals

R 25.00
R 250.00

Per withdrawal Per real-time withdrawal

Outward Portfolio
Transfers (‘Exit Fee’)

– R 50.00 for JSE Stocks
– USD 30.00 for US Stocks
– USD 60.00 for Other Stocks

The fee incurred per share holding to transfer to another broker.

Maximum Fee Limits:

• JSE Stocks: R 450.00

• US Stocks: USD 100.00

• Intl Stocks: USD 180.00

Transfer of Ownership

R 100.00 for JSE Stocks
USD 25.00 per share holding

Change of beneficial ownership of shares

Interest on Account
Equity

Base Rate less 2.00%

The interest earned on funds in your account.

Note: If a negative Net Free Equity and/or Account Value balance occurs, interest will be charged at a rate equal to the Base Rate plus 5% per annum.

Foreign Investment
Facility

0. 35% per annum

A fee of 0.35% per annum is charged on the use of Velocity Trade’s Foreign Investment Facility (sometimes referred to as an ‘Asset Swap’).

Wire Fee

R 450.00

A daily Wire Fee is charged in relation to the settlement of payments to and from your trading account where a currency conversion occurs.

• This fee is charged per day and not per trade.

• Trades filled before 14:00pm GMT+2 will share the cost of the daily Wire Fee.

FX Translation

Daily FX Spot rate

A daily FX Translation adjustment is applied to the settlement of payments to and from your trading account where a currency conversion occurs.

• Trades filled before 15:00pm GMT+2 will be adjusted using a daily FX Spot rate.

• Trades filled after 15:00pm will be adjusted using a daily FX Spot rate for the following business day (South Africa).

Admin fee

R 129.00

Monthly account administration fee

Note: Fees quoted in USD or foreign currency will be converted into ZAR at the prevailing USD/ZAR exchange rate and charged to the account in ZAR.

Tax Considerations

Income from Securities is credited net of any applicable statutory withholding taxes.


Note:

  • Investors benefit from a reduction in US withholding tax from 30% to 15% on dividends earned from US shares.
  • There is no withholding tax on UK shares.

Velocity Trade provides annual tax summaries. For any tax considerations, please consult your financial advisor or tax consultant.



Tax Clearance:


SARS permits an annual foreign investment allowance of R10 million for individuals, and an annual discretionary allowance of R1 million per year. The
latter does not require a tax clearance certificate.

If you have reached your individual limit for the year, you can make use of Velocity Trade’s Institutional Foreign Investment Allowance (FIA).

 

Market Data

 

Clients are required to nominate the market data types they require when completing an online application form. This can be adjusted at any time on
request.


Description

Cost (ex. VAT)

Frequency

International Stocks Live Level 1 – Non-Professional End User

R12.00 *

Monthly

JSE Live Level 1 – Non-Professional End User

R102.77

Monthly

International Stocks Live Level 1 – Professional End User

R960.00 *

Monthly

JSE Live Level 1 – Professional End User

R333.50

Monthly

* Fee is subject to change based on variations in the USD/ZAR exchange rate.

JSE Policies can be found on the JSE website.

 

Financing

 

If you keep a Cash CFD position open overnight (after 10pm GMT), we will make an interest adjustment to your account to reflect the cost of funding your
position. The interest adjustment is based on the interbank funding rates. We debit your account if your position is long, and credit your account for a short position – if the interbank funding rate is greater than 3.00%*.

For nearly all our markets, this is calculated in the same way for CFDs. For Forex, the funding cost is calculated differently as explained below.

Daily Funded CFDs

Long Positions

Short Positions

We charge 3.00%* above the relevant interbank rate, e.g. SAFEY.

For example: If the relevant interbank 1-month rate is 0.50%, you would be charged 3.50% (annualised).

You receive the relevant interbank rate, minus 3.00%*.

• If the interbank rate is greater than 3.00%, we credit your account.

• If the interbank rate is less than 3.00%, your account is debited.

For example: If the relevant interbank 1-month rate is 0.50%, you would be charged 2.50% (annualised).

* 3.50% on international CFD contracts

 


Forex Positions

Forex Positions

For CFD Forex positions, we apply an adjustment overnight, which reflects the interest rate differential between the two currencies.



Disclaimer

The fees listed are subject to the fee structures within the fee schedule and are only updated once the information is published by the provider. Due to the delay in publishing the fees, the actual fees charged may differ from the fees listed above.

 

 
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