HCA trading low cost trading account

Trading accounts

In order to join our HCA trading community, you must trade with Herenya. We trade primarily CFDs on JSE listed equities. These local CFD trades are routed through, underwritten and settled by a JSE member firm, allowing us to trade directly on the exchange. We strongly prefer that our trades are done on exchange as it is important that we interact with the real market, thus our preference for direct market access (DMA). There are a large variety of over-the-counter (OTC) derivatives available to our clients should they wish to trade them, but for those who prefer to trade offshore indices and equities via exchange listed futures, options or spot equity and currencies, we have DMA options available on 36 exchanges around the world.

Account types

Herenya offers traders a variety of different accounts to suit their individual needs. Competitive trading fee structures help newer traders enter the market with lower barriers to entry while experienced traders benefit from professional fee structures.

The Pro Trader account offers traders access to global markets, from a locally held Rand denominated account. This account is well suited for traders who are looking for a low cost access point to local and international trading instruments (there is no need to take money offshore in order to trade offshore instruments in this account). This account is also well suited for long-term investors who require low cost local equity accounts to hold and construct their long-term share and ETF portfolios in. The Pro Trader account is a great all-rounder and possibly the best starting point for newer traders while still remaining a firm favourite amongst many experienced traders.

Trading instrumentBrokerage rateMargin rateMinimum trade charge
JSE listed equities and ETFs0.30%100%R150
JSE listed equities CFDs0.20%10% – 25%R50
SAFEX listed index futures (ALSI)R206% – 8%R20 per contract
Offshore index CFDsSpread based1% – 6%1 – 10 points*
Commodity CFDsSpread based2% – 10%2 – 30 points*
Forex CFDsSpread based1%1 – 135 pips**
US listed equitiesUSD 3 cents per share100%USD 20
Other offshore listed equities and ETFs0.35%100EUR 15
US listed equities CFDsUSD 3 cents per share5%USD 15
Other offshore listed equities CFDs0.15%5%EUR 12
* spreads vary according to instrument being traded, e.g. US500 spread = 1 point
** spreads vary according to instrument being traded, e.g. EUR/USD spread = 1 pip
  • Minimum deposit: R 50 000.00¹
  • Monthly account fee: R 105 p/m
  • JSE listed CFDs with direct market access
  • CFD funding rate: SAFEY +3.5% for long positions and SAFEY -3% for short positions.

¹Save to trade program available.

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The Low cost CFD account is best suited for more experienced traders who trade very frequently. This account grants traders access to only JSE listed equities CFDs and therefore traders cannot trade other instruments through this account. All JSE listed equities CFDs on these accounts are direct market access.

Traders are able to open an overnight or intraday account (or both) and will benefit from the very low fee structure. The overnight and intraday accounts are separate accounts that must be funded separately. 

Trading instrumentBrokerage rateMargin rateMinimum trade charge
Overnight JSE listed equities CFDs0.12%10% – 25%No minimum
Intraday JSE listed equities CFDs0.06%10% – 25%No minimum
  • Minimum deposit: R 100 000.00¹
  • At this stage there is not monthly fee for the account as our prime broker is not charging a monthly fee.²
  • CFD funding rate for Overnight account = SAFEY +3.5% for long positions and SAFEY -3% for short positions. Overnight positions not allowed on the Intraday account.

¹Save to trade program available.

²Notification will be given if monthly rates become applicable.

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The Interactive Brokers account is best suited for traders and investors who require low cost access to international markets where funds, shares and derivatives are held in an offshore account. Through our international broking partner we are able to offer over 100 000 different trading instruments, on 36 exchanges in 26 countries, all through one account. These accounts are held offshore and are funded in a foreign currency of the trader or investor’s choosing. 

Trading instrumentBrokerage rateMargin rateMinimum trade charge
U.S. listed equities and ETFsUSD 1 cents per share100%USD 2
Canada listed equities and ETFsCAD 2 cents per share100%CAD 2
U.K. listed equities and ETFsGBP 12 + 0.1%100%GBP 12
Germany listed equities and ETFs0.20%100%EUR 8
Forex0.40%100%USD 4
*There are  too many instruments to be able to list them all here.
**CFDs, Futures and Options all have similar fee structures, although mostly require only 25% margin.
  • Minimum deposit: $ 30 000.00¹
  • There are no monthly account fees and no custody fees for this account. 
  • Direct market access and over the counter options available on thousands of different instruments.

¹Save to trade program available.

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The Foreign Currency Account (FCA) allows clients to make fast and cost-effective offshore transfers, as well as, trade in a variety of different Forex instruments and send, receive and hold foreign currency in a locally held foreign currency denominated account without having to convert to Rand. 

Trading instrumentBrokerage rateMargin rateMinimum trade charge
Physical Spot FX0.50%100%N/A
Forward Exchange Contact (FEC)0.10% – 1.00%0% – 10%N/A
Non-Deliverable Forward (NDF)R10 per $10005% – 8%N/A
Rolling Forward DatedR10 per $10005% – 8%N/A
Forex OptionsVariable PremiumN/AN/A
*Offshore transfers completed before 10am on weekdays are cleared on the same day in the offshore beneficiary account.
**Our administrators aid clients with Balance of Payment and Tax Declaration documents, making the process easy and fast for the client.
  • There are no monthly account fees and no custody fees for this account. 
  • Rands held in the account earns 5.75% interest. 
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We'll help you decide

Not sure which account will work for you? Let us help you choose the best account for your individual need.
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