Frequently asked questions (FAQs)

We understand that there are many frequently asked questions that need answering. Please either search for your specific question, or browse through the FAQs. If there are any questions that you might have that are not in our FAQs, please submit your question at the bottom of the page and we will do our best to address it.

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Account administration

You can submit your FICA documents by emailing accountopening@herenya.co.za. Please reference your email with your full names for prompt processing.

First you will need to open an account with Herenya Capital Advisors, then simply let us know that you would like to transfer your current trading account or portfolio to us, and we will send you a Portfolio Transfer form to complete in order to effect the transfer.

Step 1: Complete the application form on the Open Account page,

Step 2: Complete the mandate (will be emailed to you) and provide us with your FICA documents (specified in mandate),

Step 3: Fund your account (or transfer open positions and cash),

Step 4: Join our client community / Discord server.

You can fund your account once your mandate and FICA documents are processed and your account is opened. You will receive an email with banking details for cash deposits. You are also able to transfer your current trading account to Herenya should you wish.
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Simply let us know that you want to deactivate your trading account and withdraw your funds. We will send you an email with the step-by-step instructions on how to affect the withdrawal for your specific account. You can also transfer your positions and cash out of the account if you wish to do so. You are more than welcome to ask questions during the process if something is unclear. Email info@herenya.co.za for more details.

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Regulation

All client funds are held with either the relevant underlying Prime Broker or with a Custodian for the specific client account type. Herenya makes use of registered and regulated Financial Services Providers and Custodians approved to perform these services in terms of the Financial Markets Act or the FAIS Act or the relevant jurisdictions legislation in order to ensure the safety of our client funds, as well as regulatory compliance requirements.

You can submit your FICA documents by emailing accountopening@herenya.co.za. Please reference your email with your full names for prompt processing.

The Herenya Capital Advisors client mandate is not available for download from our website. Although when you open an account, we will email you a copy of the mandate that needs to be completed and returned to us along with the relevant supporting FICA documents.

The term “FICA documents” is used to refer to a valid South African identity document or valid foreign passport, and proof of address not older than 3 months and in the customer’s name. Examples: municipality bill/electricity bill, bank statement and retail account statement etc. These documents are used to verify an individual or juristic person’s identity and address, as well as their banking details. These documents are used to prevent money laundering.

Yes, Herenya Capital Advisors is a registered and regulated Financial Services Provider (FSP. 47080).

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Fees

We have a number of different trading accounts to choose from, each with different trading costs and spreads. Our accounts are designed to provide tailored solutions to a variety of different types of traders. Please have a look at the HCA trading page for details around the different account types. Alternatively, the Fees page will provide you with a more in-depth breakdown of the fees and charges for each of our accounts.

There are no monthly account fees for long-term investors, or short-term traders on the Interactive Brokers account. The only fees payable are brokerage fees when trades are executed, or live market data subscription fees if you wish to make use of it. To see our fee structure, please navigate to the Fees page.

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HCA trading

Discord is an online community based communication platform that allows us to chat, share charts, documents, videos and more with our clients.

The only requirement to join and become a part of our trading community is that your trading account(s) be held with Herenya Capital Advisors.

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Interactive Brokers

The minimum deposit required to open an account varies as following:

Pro Trader account: R 50 000;

Low cost CFD overnight account: R 100 000;

Low cost CFD intraday account: R 100 000;

Interactive Brokers account for long-term investing: $ 5 000;

Interactive Brokers account for active short-term trading: $ 30 000.

The margin rate for CFDs on the Interactive Brokers account depends on the liquidity, volatility and overall risk associated of and with the underlying stock. Mostly, margin rates can vary from 8% to 12%. Should there be an extreme risk event (think Steinhoff), margin rates can be increased to as much as 100% in order to mitigate risk.

There are no monthly account fees for long-term investors, or short-term traders on the Interactive Brokers account. The only fees payable are brokerage fees when trades are executed, or live market data subscription fees if you wish to make use of it. To see our fee structure, please navigate to the Fees page.

You can view your Pro Trader and Interactive Brokers account statements by logging into your respective account(s) online portal. Low cost CFD account statements are emailed to directly to you every day.
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Yes, our clients are able to buy fractional shares in any company listed in the US only, although with limitations, through the Interactive Brokers account.

Yes, you can use trailing stop losses on the Interactive Brokers (Offshore) platform. Trailing stop losses can be set in a variety of different ways on either the IBKR app, Web trading platform or Traders Workstation trading platform.

Yes, you can short sell shares. Although take note; short selling is only possible if you are trading a Derivative instrument such as a Futures contract, Option or CFD. Herenya Capital Advisors does provide derivatives trading and stockbroking services to its clients, and thus most shares are available to short.

Yes, you are able to call the trading desk and place or amend orders via the phone.

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Low cost CFD

The minimum deposit required to open an account varies as following:

Pro Trader account: R 50 000;

Low cost CFD overnight account: R 100 000;

Low cost CFD intraday account: R 100 000;

Interactive Brokers account for long-term investing: $ 5 000;

Interactive Brokers account for active short-term trading: $ 30 000.

You can view your Pro Trader and Interactive Brokers account statements by logging into your respective account(s) online portal. Low cost CFD account statements are emailed to directly to you every day.
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Yes, you can short sell shares. Although take note; short selling is only possible if you are trading a Derivative instrument such as a Futures contract, Option or CFD. Herenya Capital Advisors does provide derivatives trading and stockbroking services to its clients, and thus most shares are available to short.

Yes, you are able to call the trading desk and place or amend orders via the phone.

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Tax

Capital Gains Tax applies to or is payable by individuals, trusts and companies. A resident, as defined in the Income Tax Act 58 of 1962, is liable for CGT on assets located both in and outside South Africa. A non-resident is liable to CGT only on immovable property in South Africa or assets of a “permanent establishment” (branch) in South Africa.

A Capital Gains Tax (CGT) is a tax on the profit realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale of stocks, bonds, precious metals, real estate, and property. In South Africa, the asset must be held for longer than two years before profit made on the sale of the asset can be considered capital gains.
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Herenya is able to assist you with filing for tax as a trader. We assist with the compilation and submissions of annual SARS tax returns. Navigate to our Advisory Services page for more information about our tax consulting services.

No, CFDs are not tax free. All profits made from trading CFDs, including synthetic dividends earned, are taxed at your applicable nominal income tax rate.

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Support

You can submit your FICA documents by emailing accountopening@herenya.co.za. Please reference your email with your full names for prompt processing.

The Herenya Capital Advisors client mandate is not available for download from our website. Although when you open an account, we will email you a copy of the mandate that needs to be completed and returned to us along with the relevant supporting FICA documents.

We have a Market Data page with a basic economic calendar available. You can access this in the Useful Resources section of our website. You can also make use of the research portal made available to Pro Trader account holders, which can be accessed by logging into the Pro Trader online portal.

Discord is an online community based communication platform that allows us to chat, share charts, documents, videos and more with our clients.

You can view your Pro Trader and Interactive Brokers account statements by logging into your respective account(s) online portal. Low cost CFD account statements are emailed to directly to you every day.
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Separator

First you will need to open an account with Herenya Capital Advisors, then simply let us know that you would like to transfer your current trading account or portfolio to us, and we will send you a Portfolio Transfer form to complete in order to effect the transfer.

Step 1: Complete the application form on the Open Account page,

Step 2: Complete the mandate (will be emailed to you) and provide us with your FICA documents (specified in mandate),

Step 3: Fund your account (or transfer open positions and cash),

Step 4: Join our client community / Discord server.

The only requirement to join and become a part of our trading community is that your trading account(s) be held with Herenya Capital Advisors.

You can fund your account once your mandate and FICA documents are processed and your account is opened. You will receive an email with banking details for cash deposits. You are also able to transfer your current trading account to Herenya should you wish.
Site title
Title
Separator

Simply let us know that you want to deactivate your trading account and withdraw your funds. We will send you an email with the step-by-step instructions on how to affect the withdrawal for your specific account. You can also transfer your positions and cash out of the account if you wish to do so. You are more than welcome to ask questions during the process if something is unclear. Email info@herenya.co.za for more details.

Yes, you are able to call the trading desk and place or amend orders via the phone.

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Investing

Herenya Capital Advisors offers stockbroking services in a large variety of financial products and instruments. These include; Equities, ETFs, Futures, Options, CFDs, Bonds, Warrants, Forex, Indices, Commodities, Offshore Mutual funds and more.

Yes, our clients are able to buy fractional shares in any company listed in the US only, although with limitations, through the Interactive Brokers account.

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Trading

The minimum deposit required to open an account varies as following:

Pro Trader account: R 50 000;

Low cost CFD overnight account: R 100 000;

Low cost CFD intraday account: R 100 000;

Interactive Brokers account for long-term investing: $ 5 000;

Interactive Brokers account for active short-term trading: $ 30 000.

The margin rate for CFDs on the Pro Trader account depends on the liquidity, volatility and overall risk associated of and with the underlying stock. Mostly, margin rates can vary from 8% to 12%. Should there be an extreme risk event (think Steinhoff), margin rates can be increased to as much as 100% in order to mitigate risk.

The margin rate for CFDs on the Interactive Brokers account depends on the liquidity, volatility and overall risk associated of and with the underlying stock. Mostly, margin rates can vary from 8% to 12%. Should there be an extreme risk event (think Steinhoff), margin rates can be increased to as much as 100% in order to mitigate risk.

Slippage is the difference between the price the trader signalled the entry and exit for a trade and the price the actual trade took place.

Herenya Capital Advisors offers stockbroking services in a large variety of financial products and instruments. These include; Equities, ETFs, Futures, Options, CFDs, Bonds, Warrants, Forex, Indices, Commodities, Offshore Mutual funds and more.

No, CFDs do not have an expiry date. CFD positions can be held indefinitely (or for long periods of time), although overnight funding interest is calculated and charged daily.

Yes, our clients are able to buy fractional shares in any company listed in the US only, although with limitations, through the Interactive Brokers account.

Yes, you can short sell shares. Although take note; short selling is only possible if you are trading a Derivative instrument such as a Futures contract, Option or CFD. Herenya Capital Advisors does provide derivatives trading and stockbroking services to its clients, and thus most shares are available to short.

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Pro Trader

We have a Market Data page with a basic economic calendar available. You can access this in the Useful Resources section of our website. You can also make use of the research portal made available to Pro Trader account holders, which can be accessed by logging into the Pro Trader online portal.

The minimum deposit required to open an account varies as following:

Pro Trader account: R 50 000;

Low cost CFD overnight account: R 100 000;

Low cost CFD intraday account: R 100 000;

Interactive Brokers account for long-term investing: $ 5 000;

Interactive Brokers account for active short-term trading: $ 30 000.

The margin rate for CFDs on the Pro Trader account depends on the liquidity, volatility and overall risk associated of and with the underlying stock. Mostly, margin rates can vary from 8% to 12%. Should there be an extreme risk event (think Steinhoff), margin rates can be increased to as much as 100% in order to mitigate risk.

No, the Bitcoin contract that is available on the Pro Trader is an Over the Counter CFD and not the actual coin. Please use extreme caution when trading this CFD contract as the funding rates are extremely high for overnight positions and the volatility of the underlying cryptocurrency is extremely high. Trading Bitcoin and other cryptocurrency CFDs is extremely risky and we do not recommend it.

You can view your Pro Trader and Interactive Brokers account statements by logging into your respective account(s) online portal. Low cost CFD account statements are emailed to directly to you every day.
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Yes, you can short sell shares. Although take note; short selling is only possible if you are trading a Derivative instrument such as a Futures contract, Option or CFD. Herenya Capital Advisors does provide derivatives trading and stockbroking services to its clients, and thus most shares are available to short.

Yes, you are able to call the trading desk and place or amend orders via the phone.

Yes, cryptocurrencies can be traded on leverage. There are a variety of over the counter cryptocurrency derivatives available to trade on the Pro Trader account/platform.

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