Pro Trader (Local) account

Onshore Account

The Onshore Account provides access to both the JSE and International markets from one account. Uniquely, clients can trade a wide range of asset classes from a single ZAR account. Notably, clients can gain immediate access to global shares without the need to utilise their individual allowance and can hold positions across all markets from a single ZAR account.

South African Markets

Instrument GroupChargeMargin RateMinimum Trade Charge
JSE Shares0.30%N/AR150.00
SA 40 (Cash)R7.003.00%No Min Fee
SA 40 (Future)R10.003.00%No Min Fee
ALSI-CFDsR20.006.00% – 8.00%No Min Fee
ALMI-CFDsR10.006.00% – 8.00%No Min Fee
JSE CFDs0.20%5.00% – 25.00%R50.00

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

International Markets

Shares and ETFs

Market

Exchange

Commission

Minimum Trade Fee

US

New York Stock Exchange

USD 0.03 cents per share

USD 20.00

US

NASDAQ

USD 0.03 cents per share

USD 20.00

UK

London Stock Exchange

0.35%

GBP 10.00

Austria

Vienna Stock Exchange

0.35%

EUR 15.00

Belgium

NYSE Euronext Brussels

0.35%

EUR 15.00

Denmark

NASDAQ OMX Copenhagen

0.35%

DKK 80.00

Canada

Toronto Stock Exchange

0.35%

CAD 20.00

Finland

NASDAQ OMX Helsinki

0.35%

EUR 15.00

France

NYSE Euronext Paris

0.35%

EUR 15.00

Germany

Deutsche Borse (Xetra)

0.35%

EUR 15.00

Italy

Milan Stock Exchange

0.35%

EUR 15.00

Netherlands

NYSE Euronext Amsterdam (AEX)

0.35%

EUR 15.00

Norway

Oslo Stock Exchange

0.35%

NOK 80.00

Portugal

NYSE Euronext Lisbon

0.35%

EUR 15.00

Spain

BME Spanish Exchanges

0.35%

EUR 15.00

Sweden

NASDAQ OMX Stockholm

0.35%

SEK 80.00

Switzerland

SIX Swiss Exchange

0.35%

CHF 25.00

CFDs

Equity CFDsCFD PremiumMargin RateMinimum Premium
US StocksUSD 3.00 cents per share5.00%USD 15.00
UK Stocks0.15%5.00%GBP 10.00
German Stocks0.15%5.00%EUR 12.00
Index CFDsMargin RateSpread
US30 (DJIA)1.00%2.50
US500 (S&P)1.20%1.00
USTEC (Nasdaq)1.20%2.00
UK100 (FTSE 100)2.80%2.00
STOXX50 (EuroStoxx)2.80%2.00
DE30 (DAX)2.30%2.00
FR40 (CAC)2.30%2.00
ES35 (IBEX)3.30%3.50
AUS200 (ASX)2.50%2.00
HK50 (HSI)6.10%7.00
JP225 (NI225)1.00%10.00
Commodity CFDsMargin RateSpread
BRENT *6.20%7.00
GOLD1.50%2.00
SILVER1.50%2.00
WTI *6.40%7.00
NGAS10.00%8.00
COPPER7.00%30.00
Cocoa3.00%3.50
Coffee Arabica3.00%3.00
Coffee Robusta3.00%3.00
Corn3.00%2.00
Cotton3.00%15.00
Orange Juice3.00%12.00

* 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.

TreasuriesMargin RateSpread
Canada Bank 3 Month3.00%3.00
Canada Bond 10 YR3.00%6.00
Euribor3.00%2.00
Japan JGB3.00%4.50
US Dollar Index3.00%N/A
Margin FXMargin RateSpread
AUD/CAD1.00%5.00
AUD/CHF1.00%3.00
AUD/JPY1.00%3.00
AUD/NZD1.00%2.50
AUD/USD1.00%3.50
CAD/CHF1.00%3.50
CAD/JPY1.00%3.00
CHF/JPY1.00%3.50
EUR/AUD1.00%4.00
EUR/CAD1.00%4.00
EUR/CHF1.00%3.00
EUR/GBP1.00%3.00
EUR/JPY1.00%3.00
EUR/PLN1.00%18.00
EUR/SEK1.00%30.00
EUR/USD1.00%1.00
EUR/ZAR1.00%100.00
GBP/AUD1.00%4.00
GBP/CAD1.00%6.50
GBP/CHF1.00%4.00
GBP/JPY1.00%5.00
GBP/NZD1.00%8.00
GBP/USD1.00%4.00
GBP/ZAR1.00%135.00
NZD/CAD1.00%4.50
NZD/CHF1.00%4.50
NZD/JPY1.00%3.50
NZD/USD1.00%3.00
USD/CAD1.00%3.00
USD/CHF1.00%3.00
USD/JPY1.00%2.50
USD/ZAR1.00%100.00
ZAR/JPY1.00%8.00

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

South African Statutory Fees

Fee or Tax TypeCost
STRATE0.005787% (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 Levy0.0002% (excluding VAT) on all trades (excluding international markets)
Custody0.10% 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 & ClearingSAFEX 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

CountryNameTax CodeSideRate
FranceFinancial Transaction TaxFRFTTBuy30 bp
Hong KongStamp DutyHKSTAMP 10 bp
Hong KongTrading FeeHKTRAD 0.5 bp
Hong KongTrading LevyHKLEVY 0.27 bp
IrelandStamp DutyIESTAMPBuy100 bp
IrelandLevyIELEVY Gross 12,500.00 and above: 1.25 / allocation
ItalyFinancial Transaction TaxITFTTBuy10 bp
United KingdomLevyGBLEVY Gross 10,000.00 and above: 1.00 / allocation
United KingdomStampGBSTAMPBuy50 bp
United StatesSec FeeUSSECSell0.231 bp

Administrative Costs

ServiceFee (ex VAT)Description
WithdrawalsR 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
• International 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 EquityBase 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 Facility0. 35% per annumA 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 FeeR 450.00A 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 14:00 GMT+2 will share the cost of the daily Wire Fee.
FX TranslationDaily FX Spot rateA 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 15:00 GMT+2 will be adjusted using a daily FX Spot rate.• Trades filled after 15:00 will be adjusted using a daily FX Spot rate for the following business day (South Africa).
Admin feeR 129.00Monthly account administration fee
Inactivity FeeR 100.00This fee will be charged on a quarterly basis to accounts that have been inactive for 90 days or more.

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.

  • 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, or consult with Herenya Capital Advisors’ advisory services team.

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), alternatively Herenya Capital Advisors’ advisory services team can assist clients with tax clearance certificates.

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.

DescriptionCost (ex. VAT)Frequency
International Stocks Live Level 1 – Non-Professional End UserR12.00 *Monthly
JSE Live Level 1 – Non-Professional End UserR96.27Monthly
International Stocks Live Level 1 – Professional End UserR960.00 *Monthly
JSE Live Level 1 – Professional End UserR292.00Monthly

* 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 PositionsShort Positions
We charge 3.50%* above the relevant interbank rate, e.g. SAFEY.
For example: If the relevant interbank 1-month rate is 0.50%, you would be charged 4.00% (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.

Note: The Pro Trader trading platform is provided by Velocity Trade Financial Services (PTY) LTD. (FSP number 43295), a regulated intermediary financial services provider and trading services and platform provider to Herenya Capital Advisors (PTY) LTD. (FSP number 47080).

Pro Trader (Offshore) account

Offshore Account

An Offshore Account is based in foreign currency and must be funded using foreign currency. Clients must fund their Offshore Account by utilising their annual discretionary investment allowance (Offshore Allowance Account).

Only international markets can be accessed from an Offshore Account and clients may choose from one of the following base currencies:

  • USD
  • GBP
  • EUR

The initial deposit and transfer limits for an Offshore account is 10,000.00 in the relevant account currency (i.e. USD, GBP or EUR).

International Markets

Shares and ETFs

Market

Exchange

Commission

Minimum Trade Fee

US

New York Stock Exchange

USD 0.03 cents per share

USD 20.00

US

NASDAQ

USD 0.03 cents per share

USD 20.00

UK

London Stock Exchange

0.35%

GBP 10.00

Austria

Vienna Stock Exchange

0.35%

EUR 15.00

Belgium

NYSE Euronext Brussels

0.35%

EUR 15.00

Denmark

NASDAQ OMX Copenhagen

0.35%

DKK 80.00

Canada

Toronto Stock Exchange

0.35%

CAD 20.00

Finland

NASDAQ OMX Helsinki

0.35%

EUR 15.00

France

NYSE Euronext Paris

0.35%

EUR 15.00

Germany

Deutsche Borse (Xetra)

0.35%

EUR 15.00

Italy

Milan Stock Exchange

0.35%

EUR 15.00

Netherlands

NYSE Euronext Amsterdam (AEX)

0.35%

EUR 15.00

Norway

Oslo Stock Exchange

0.35%

NOK 80.00

Portugal

NYSE Euronext Lisbon

0.35%

EUR 15.00

Spain

BME Spanish Exchanges

0.35%

EUR 15.00

Sweden

NASDAQ OMX Stockholm

0.35%

SEK 80.00

Switzerland

SIX Swiss Exchange

0.35%

CHF 25.00

CFDs

Equity CFDsCFD PremiumMargin RateMinimum Premium
US StocksUSD 3.00 cents per share5.00%USD 15.00
UK StocksGBP 0.15 cents per share5.00%GBP 10.00
German Stocks0.15%5.00%EUR 12.00
Index CFDsMargin RateSpread
US30 (DJIA)1.00%2.50
US500 (S&P)1.20%1.00
USTEC (Nasdaq)1.20%2.00
UK100 (FTSE 100)2.80%2.00
STOXX50 (EuroStoxx)2.80%2.00
DE30 (DAX)2.30%2.00
FR40 (CAC)2.30%2.00
ES35 (IBEX)3.30%3.50
AUS200 (ASX)2.50%2.00
HK50 (HSI)6.10%7.00
JP225 (NI225)1.00%10.00
Commodity CFDsMargin RateSpread
BRENT *6.20%7.00
GOLD1.50%2.00
SILVER1.50%2.00
WTI *6.40%7.00
NGAS10.00%8.00
COPPER7.00%30.00
Cocoa3.00%3.50
Coffee Arabica3.00%3.00
Coffee Robusta3.00%3.00
Corn3.00%2.00
Cotton3.00%15.00
Orange Juice3.00%12.00

* 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.

TreasuriesMargin RateSpread
Canada Bank 3 Month3.00%3.00
Canada Bond 10 YR3.00%6.00
Euribor3.00%2.00
Japan JGB3.00%4.50
US Dollar Index3.00%N/A
Margin FXMargin RateSpread
AUD/CAD1.00%5.00
AUD/CHF1.00%3.00
AUD/JPY1.00%3.00
AUD/NZD1.00%2.50
AUD/USD1.00%3.50
CAD/CHF1.00%3.50
CAD/JPY1.00%3.00
CHF/JPY1.00%3.50
EUR/AUD1.00%4.00
EUR/CAD1.00%4.00
EUR/CHF1.00%3.00
EUR/GBP1.00%3.00
EUR/JPY1.00%3.00
EUR/PLN1.00%18.00
EUR/SEK1.00%30.00
EUR/USD1.00%1.00
EUR/ZAR1.00%100.00
GBP/AUD1.00%4.00
GBP/CAD1.00%6.50
GBP/CHF1.00%4.00
GBP/JPY1.00%5.00
GBP/NZD1.00%8.00
GBP/USD1.00%4.00
GBP/ZAR1.00%135.00
NZD/CAD1.00%4.50
NZD/CHF1.00%4.50
NZD/JPY1.00%3.50
NZD/USD1.00%3.00
USD/CAD1.00%3.00
USD/CHF1.00%3.00
USD/JPY1.00%2.50
USD/ZAR1.00%100.00
ZAR/JPY1.00%8.00

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

Global Statutory Fees and Taxes

CountryNameTax CodeSideRate
FranceFinancial Transaction TaxFRFTTBuy30 bp
Hong KongStamp DutyHKSTAMPBuy10 bp
Hong KongTrading FeeHKTRADBuy0.5 bp
Hong KongTrading LevyHKLEVYBuy0.27 bp
IrelandStamp DutyIESTAMPBuy100 bp
IrelandLevyIELEVYBuyGross 12,500.00 and above: 1.25 / allocation
ItalyFinancial Transaction TaxITFTTBuy10 bp
ItalyFinancial Transaction TaxITFTTBuy10 bp
United KingdomLevyGBLEVYBuyGross 10,000.00 and above: 1.00 / allocation
United KingdomStampGBSTAMPBuy50 bp
United StatesSec FeeUSSECSell0.231 bp

Administrative Costs

ServiceFee (ex VAT)Description
WithdrawalsUSD 25.00Per withdrawal (EUR/USD/GBP accounts).
Outward Portfolio Transfers (‘Exit Fee’)– USD 25.00 for US Stocks
– USD 60.00 for Other Stocks
The fee incurred per share holding (ISIN) to transfer to another broker. Maximum Fee Limits:
• US Stocks: USD 100.00
• International Stocks: USD 180.00
Transfer of OwnershipUSD 25.00 per share holdingChange of beneficial ownership of shares.
Interest on Negative Account ValueLIBOR plus 8.00% per annumYour account will incur debit interest for a deficit Net Free Equity and/or Account Value. Your account will not earn interest on positive unutilised cash balances.
Foreign Investment Facility Fee0.50% per annumA fee of 0.50% per annum is charged on the use of Velocity Trade’s Foreign Investment Facility (sometimes referred to as ‘Asset Swap’).
Wire FeeR 450.00A 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 1400h GMT+2 will share the cost of the daily Wire Fee.
FX TranslationDaily FX Spot rateA 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 15:00 GMT+2 will be adjusted using a daily FX Spot rate.
• Trades filled after 15:00* will be adjusted using a daily FX Spot rate for the following business day (South Africa).

Note: VAT is only applied to Domestic Service Fees.

Tax Considerations

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

  • 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, or consult with Herenya Capital Advisors’ advisory services team.

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), alternatively Herenya Capital Advisors’ advisory services team can assist clients with tax clearance certificates.

Market Data

DescriptionCost (ex. VAT)Frequency
International Live Level 1 – Non-Professional End UserUSD 1.00Monthly
International Live Level 1 – Professional End UserUSD 80.00Monthly

Financing

If you keep a Cash CFD position open overnight (after 10pm GMT), we will make an interest adjustment to your account so as 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 PositionsShort Positions
We charge 3.50%* above the relevant interbank rate, e.g. SAFEY.
For example: If the relevant interbank 1-month rate is 0.50%, you would be charged 4.00% (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.

Note: The Pro Trader trading platform is provided by Velocity Trade Financial Services (PTY) LTD. (FSP number 43295), a regulated intermediary financial services provider and trading services and platform provider to Herenya Capital Advisors (PTY) LTD. (FSP number 47080).

*Take note:

To gain access to and be integrated into our community and team, you must have an active account with Herenya that meets our minimum deposit requirements. Community members are expected to contribute to the overall wellbeing and productivity of the team. There are no free rides, if you want to take trading seriously, you have to take trading seriously. These rules are put in place in order to ensure that members of our community do not take on excessive risk that they cannot afford.

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