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Your Special FSP Invest Brokerage Rates

We recommend the following brokers to FSP Invest subscribers. Please consider these brokers and choose the broker best suited to you. Alternatively, you can review a full list of JSE approved Members at www.jse.co.za.

To qualify for these rates please inform the broker you are a FSP Invest subscriber

Costs that apply to all Stock Brokers

  • 0.25% Securities Transfer Tax (STT) on the purchase price only.

  • Strate settlement costs of R10.92 (R12.45 incl VAT) for transactions up to R200,000; 0.005% excl VAT on contract notes greater than R200,000. R54.59 excl VAT on contract notes greater that R1 million.

  • Investor Protection Levy at 0.0002% of the value of the transaction

  • VAT at 14% of the brokerage rate, Strate settlement costs and the investor protection levy.

Captial Gains Tax

Capital Gains exceeding R17,500 per annum will be subject to Capital Gains Tax in your Tax return. Tax is only payable after gains have been realised.

Transfer of funds to your preferred Stock Broker

When depositing funds into your broker's account, you must use your trading account number as a reference (this allows for identification of your deposit). Your preferred broker will supply you with the account details you’ll need to deposit your funds into before you start trading.

Any unused money will be placed in an interest-bearing savings account. This means it earns interest at call rates when it’s not being used. When shares are purchased or sold on your account, the trading account’s cash balance will automatically be debited or credited with the value of the purchase or sale, after the relevant charges have been deducted.

A guide to operating your new account with your broker

WHEN OPENING AN ACCOUNT YOU’LL NEED THE FOLLOWING:

  • Certified Copy of your ID/passport

  • Certified Proof of address (e.g. rates account/bank statement or air miles statement)

  • Proof of bank details

  • Proof of Income Tax Number (Any letter on a SARS letterhead with your number will be accepted)

  • Once your share account is open, you’ll be provided with an account number and the banking details. When making transfers or deposits into your account always specify your account number as the reference for the transfer / deposit.

General Information

Your broker will register your shares in the name of their nominee company. These shares will be held as an electronic record at your broker's CSDP (Central Securities Depositary Participant). This is a far more secure system for holding shares than the old system where share certificates were issued to the shareholders. Your shares within the CSDP will be linked directly to your trading account number.

The companies you invest in are required to publish information to the market on a regular basis. Most people find this information overwhelming and prefer not to receive it via post. Through your brokers website you can access most of this information and set up alerts to notify you when it’s released. Should you need a hard copy, you’re welcome to specifically request this information from the broker who’ll instruct the company to send it to you.

Some shares may trade infrequently, with the result that your order may not be matched immediately. During your first few trades, it’s recommended you speak to your broker while placing the order, until you have a clear understanding of how the system works.

The brokers below reserve the right to change their pricing structure at any time. You will, however, be informed of any price changes by your broker.

Imara SP Reid: Full Services Broker

Brokerage rates

Imara SP Reid levies a basic brokerage fee of R65 per transaction and a variable fee at 0.65% (refer to table below). The normal JSE and government levies and taxes are applicable. An Administrative fee of R30 per month (Levied semi-annually) also applies.

Scale                      Basic                      Brokerage rate

R0 – R250,000         R65                         0.65%

R250,001 +             R65                         0.4%

Contact details

Trading Desk Hotline      Tel: (011) 550 6251           Website: http://trade.imara.co

Warren Geldenhuys       Tel: (011) 550 6267           Email: warren.geldenhuys@imara.com

Marothi Mampane          Tel: (011) 550 6250           Email: Marothi.mampane@imara.com

Gavin Fourie                  Tel: (011) 550 6222          Email: gavin.fourie@imara.com

Imara SP Reid has been a Member of the JSE for more than 80 years. Imara SP Reid is a full service stock brokerage that offers securities trading, investment research, portfolio management and advisory services.

Imara has a highly regarded research team and has consistently ranked in the Top 10 of all Stock brokers in South Africa. It has a longstanding tradition of quality service to a large private client base.

Part of the educational process involved in learning about the JSE includes running your own investment account. To assist FSP Invest clients Imara SP Reid will accept accounts with a minimum of R10,000.

Imara SP Reid provides a dedicated portfolio advisor free of charge and will provide advice on FSP Invest recommendations complimented with their own research.

Clients can discuss their investment confidentially with one of many qualified Imara portfolio advisers.

A Full Service web site is available, which allows you to access share prices and company information as well as manage your portfolio and trade online.

Something to remember – Running a small account can be expensive and Imara SP Reid recommends clients build up their accounts. Larger portfolios are more cost-effective to run and allow you to spread the risk across several companies and sectors.

Global Trader (GT247)

We've agreed brokerage rates with Global Trader (GT247) for Fleet Street subscribers. Remember to inform the broker that you're a Fleet Street Publications’ Spread Trader subscriber to be eligible for any special offers.

Platform

Product

Minimum
Deposit

Brokerage Rate

Futures  Trading

Mini CFDs

R500

50bps (0.5%)

 

Currencies

R500

0.0001 – 0.0002 pips

 

Commodities

R500

0.1 – 6 pips

 

Bonds

R500

0.02 pips

 

Binary Options

R500

nil

 

Indices

R500

0.25 – 6 pips

 

 

 

 

CFD Trading

Equity CFDs

R2000

Maximum 50bps (0.5%) negotiable

 

Currencies

R2000

0.0001 – 0.0002 pips

 

Commodities

R2000

0.1 – 6 pips

 

Indices

R2000

0.25 – 6 pips

 

 

 

 

Sanlam iTrade

Equities

R1000

Maximum 70bps (0.7%) negotiable or

Minimum fee per transaction R99

 

 

 

 

Peregrine Securities

Equities

R100 000

Maximum 60bps (0.6%) negotiable

or

Minimum fee per transaction R85

Global Trader is a full service broker recognised as the market leader in Spread Trading.

GT247.com pioneered CFD and Spread trading in South Africa and we are the leading online trading platform. Our facilities make the trading process simple, focused, cost-effective and efficient across a wide spectrum of instruments, including CFDs, stocks, futures and options on the following asset classes – Equities, Indices, Currencies, Commodities and Interest Rate Products.
 
We believe practice makes perfect which is why you don’t have to open a live trading account straight away. Demo Platforms, together with R100,000.00 of free demo cash, allow you to practice trading CFDs, futures or equities in a real market environment.
 
Part of our offering is The Wire, Africa’s first online financial social network, designed to offer you a unique opportunity to learn from the best by exchanging views, opinions and research amongst your community of online investors. The Wire also provides you with access to the opinions, expertise and trading tips from our team of experienced traders. 
 
What’s Stopping You is another unique offering which provides you with a full self-evaluation, take this free online assessment now at http://www.wsy.co.za/. Once completed you will have further insight into your trading personality, risk profile, knowledge of investment products as well as receiving a recommended trading portfolio which is suited to you. This exclusive analysis which will be explained by a sales consultant, together with our training programmes, seminars and world class client services team will ensure that your trading experience with GT247.com help’s you take your financial future back into your own hands! 
 
GT247.com, through GT Private Broking, offers HNW individuals a bespoke service which is tailored for high-frequency traders requiring up to date and specialist market insight. GT Private Broking has matured in line with our clients’ needs to offer a combination of traditional stock broking with all the flexibility of new-world derivative products, platforms and systems. We aim to maximise your profitability through a high-touch, personalised service which is based on trust, integrity and above all, a true understanding of your trading style, time constraints and risk profile.
 
Open an account now at www.gt247.com or call a dedicated service consultant: 
Gauteng: + 27 87 940 6108
Western Cape: + 27 87 940 6110
Kwa-Zulu Natal: + 27 87 940 6090
GT Private Broking: +27 87 940 7007
www.gt247.com
www.gtprivatebroking.com
 

Some questions you may have…

What is a geared trading?

If you’re unsure what and how geared trading works, read through the following information and make sure you know exactly how these instruments work before trading.

  • Spread trading uses geared instruments, meaning they grow or lose ground at a faster pace than the underlying instrument. You, therefore, stand to make more money on the upside or lose it on the downside.

  • Pricing is transparent and brokers are able to give you firm prices on request at which time you may place an order to transact.

  • To close out a geared trading contract, you need to enter into an equal but opposite transaction through the same process; alternatively the position will be closed at expiry.

  • A word of warning, the use of leverage will magnify the effect of a change in price, both upwards and downwards. A fairly small move downwards in the share could result in a dramatic downward movement in the future, so set and monitor your stop losses carefully. 

What is a margin?

The basic margin requirements are set by GT247 and are a percentage of the underlying value (dependent on volatility/risk).

The variation margin, unlike the initial margin, is determined by the market movement of the currency through a process called marking-to-market (MtM) – this is the process of adjusting all open positions at the end of the trading day to determine the net profit/loss due (market value).

As long as your trade position remains open, your position will be evaluated daily and your account will be adjusted with any profits or losses daily.
Variation margin is then paid to cover these MtM profits/losses.

Opening a spread trading account

Before you trade currencies, you need to register with Yield-X through a JSE Financial Derivatives member, and open an account with your preferred trading platform.

You will need:

  • Certified copy of your ID/Passport

  • Certified confirmation of address (e.g. rates account, utility bill or a printed original – not electronic - bank statement)

  • Proof of banking details (a recent bank statement)

  • Proof of Income Tax Number (any letter on a SARS letterhead with your tax number will be accepted

Transfer of funds to your broker

Please note, you'll need to put money into a margin account, which is a secure account held by your broker. When depositing funds into your broker's account, you must use your trading account number as a reference (this allows for identification of your deposit).

On futures accounts, you earn interest on any amount held in this account at around current money market rates (which is much higher than savings account rates).

Your broker will inform you as to how much money you need in your account for each trade you place.