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

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

International Markets

Shares and ETFs

CFDs

* 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.

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

South African Statutory Fees

Global Statutory Fees and Taxes

Administrative Costs

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.

* 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

* 3.50% on international CFD contracts

Forex Positions

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 Velocity 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).