Here’s a comparison of online brokerage charges in South Africa, which was done in February 2015.
Monthly fees | Brokerage fees on shares | Brokerage on R20,000 trade (incl VAT) |
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https://www.24forex.co.za/ | R200 per quarter, excl VAT (waived if 3 trades in a quarter) | Brokerage = 0.30% (minimum R100) excl VAT | 0.57% LESS for bigger trades |
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https://www.forex-brokers.co.za/ | R60 per month (waived if 3 trades in a month); not mentioned if it includes VAT | Brokerage = 0.50% (minimum R60) excl VAT | 0.57% | ||||||||||||||
https://www.forex-trading.co.nz/ | R58 per month, excluding VAT (waived for discretionary clients) | Brokerage = 0.50% (minimum R100) excl VAT | 0.57% | ||||||||||||||
https://www.forexaus.com/ | R66.66 per month (including VAT) Waived for remainder of year once you have traded at least 5 times in the previous calendar year. |
Brokerage = 0.4% (R120 minimum) excl VAT | 0.684% LESS for bigger trades |
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https://www.forexbonus.co.za/ | R75 per month (excluding VAT) | Brokerage = 0.6% (R80 minimum), excluding VAT | 0.684% | ||||||||||||||
https://www.onlinetradingza.com/ | (R65 per month) R195 per quarter (VAT not mentioned) |
Brokerage = 0.50% (minimum R125) excl VAT | 0.713% | ||||||||||||||
https://www.syntheticindices.com/ | (R50 per month) Administration fee: R150 per quarter (VAT not mentioned) |
Online Sliding Scale:
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0.798% | ||||||||||||||
day trader (superior data services) |
R57 per month (incl VAT). (waived if brokerage comes to more than R300 per month) |
R0 to R500,000 = R75 + 0.50% R500,001 to R1m = 0.4% Above R1m = 0.35% |
0.998% | ||||||||||||||
https://www.forexbrokerscanada.ca | R40 per month (VAT not mentioned) |
Excluding VAT |
1.14% | ||||||||||||||
Imara | (R20.83 per month) (excluding VAT) R250 per year (excluding VAT) |
R0 to R250,000 0.7% R250,000 to R1m 0.55% R1m to R1.5m 0.40% R1.5m to R3m 0.25% Above R3m 0.2% R85 in addition Excluding VAT |
1.283% | ||||||||||||||
FNB Share Builder | Admin: R19 per month (no mention of VAT) | Brokerage =2% (R50 minimum), excluding VAT | 2.28% |
Note that over and above stock brokerage, the following costs are incurred when trading:
- STRATE settlement costs of 0.005459% of the what is the best trading platform uk, with a minimum charge of R10.92 per broker’s note on deals up to R200 000, and a maximum charge of R54.59 per broker’s note for deals in excess of R1 million.
- An Investor Protection Levy of 0.0002% of the value of shares traded.
- VAT (Value Added Tax) of 14% is payable on the brokerage, the STRATE charge and Investor Protection Levy
- STT (Securities Transfer Tax) is charged at 0.25% on the value of share traded, but is levied only on share purchases, not sales.
An example : | ||||||||||||||
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Beware of market orders
Trading using forex brokers Australia orders (best price orders) are risky, especially in low liquidity stocks.