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 including:

  • Shares & ETFs
    • JSE
    • International Exchanges
  • CFDs
    • Single Stock CFDs
      • JSE
      • International Exchanges
    • Indices
    • Commodities
    • Treasuries
    • FX

Notably clients can gain immediate access to global shares without the need to utilise their individual allowance, and can hold positions across all markets in one single ZAR account.

South African Markets

Instrument Group Trade Charge Margin Rate Minimum Trade Charge
Top 40 Shares *0.30% CommissionN/AR150.00 Commission
Outside Top 40 Shares *0.30% CommissionN/AR150.00 Commission
ALSI-CFD ** (CFD)R20.00 per contract6 - 8%No Min Fee
ALMI-CFD ** (CFD)R10.00 per contract6 - 8%No Min Fee
Top 40 Shares *** (CFD)0.20% CFD Premium5 - 25%R50.00 CFD Premium
Outside Top 40 *** (CFD)0.20% CFD Premium5 - 25%R50.00 CFD Premium

* Excludes Strate and FSP Levy, excludes Securities Transfer Tax (STT) and VAT
** Includes VAT, Clearing and Settlement
*** Includes Strate and FSP Levy

International Markets

Shares and ETFs

Market Exchange Symbol Commission Minimum Trade Fee
Us New York Stock Exchange NYSE and ARCA USD 0.03 per share USD 20.00
Us NASDAQ NASDAQ and NSC USD 0.03 per share USD 20.00
UK London Stock Exchange LSE_SETS 0.35% GBP 10.00
Austria Vienna Stock Exchange VIE 0.35% EUR 15.00
Belgium NYSE Euronext Brussels BRU 0.35% EUR 15.00
Denmark NASDAQ OMX Copenhagen CSE 0.35% DKK 125.00
Finland NASDAQ OMX Helsinki HSE 0.35% EUR 15.00
France NYSE Euronext Paris PAR 0.35% EUR 15.00
Germany Deutsche Borse (Xetra) DAX 0.35% EUR 15.00
Italy Milan Stock Exchange MIL 0.35% EUR 15.00
Netherlands NYSE Euronext Amsterdam (AEX) AMS 0.35% EUR 15.00
Norway Oslo Stock Exchange OSE 0.35% NOK 125.00
Portugal NYSE Euronext Lisbon LISB 0.35% EUR 15.00
Spain BME Spanish Exchanges SIBE 0.35% EUR 15.00
Sweden NASDAQ OMX Stockholm SSE 0.35% SEK 125.00
Switzerland SIX Swiss Exchange SWX and VX 0.35% CHF 25.00

CFDs

Equity CFDs CFD Premium Margin Rate Minimum Premium
US Stocks 3 cents per share 5.00% USD 10.00
UK Stocks 0.15% 5.00% GBP 10.00
Belgium Stocks 0.15% 5.00% EUR 10.00
Denmark Stocks 0.15% 5.00% DKK 100.00
Finland Stocks 0.15% 5.00% EUR 10.00
France Stocks 0.15% 5.00% EUR 10.00
Germany Stocks 0.15% 5.00% EUR 10.00
Ireland Stocks 0.15% 5.00% EUR 10.00
Italy Stocks 0.15% 5.00% EUR 10.00
Netherlands Stocks 0.15% 5.00% EUR 10.00
Norway Stocks 0.15% 5.00% NOK 100
Portugal Stocks 0.15% 5.00% EUR 10.00
Spain Stocks 0.15% 5.00% EUR 10.00
Sweden Stocks 0.15% 5.00% SEK 100.00
Switzerland Stocks 0.15% 5.00% CHF 20.00
Index CFDs Margin Rate Spread
US30 (DJIA)1.00 %2
US500 (S&P)1.00 %1
USTEC (Nasdaq)1.00 %3
US2000 (Russell)1.00 %2
UK100 (FTSE 100)1.00 %2
UK250 (FTSE 250)1.00 %44
STOXX50 (EuroStoxx)1.00 %2.5
DE30 (DAX)1.00 %2.5
FR40 (CAC)1.00 %3
ES35 (IBEX)1.50%8
IT40 (MIB)1.50%14
SWI20 (SIX)1.50%4
AUS200 (ASX)1.00 %2
N25 (AEX)1.50%3
Commodity CFDs Margin Rate Spread
BRENT *3.00%7
GOLD1.50%1
SILVER1.50%7
WTI *3.00%10

* 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.

FX (Most Traded) Margin Rate Spread
EUR / ZAR1.00%70
USD / ZAR1.00%40
AUD / USD1.00%3
EUR / AUD1.00%2
EUR / GBP1.00%22
EUR / USD1.00%3
GBP / USD1.00%3

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

Statutory Fees

Fee or Tax Type Cost
STRATE

0.005787% (excluding VAT) based on the value of the share transaction:

  • The minimum is R10.19 for trades with a value up to R176,000.00
  • The maximum is R73.49 for trades with a value over R1,270,000.00

This fee is for the electronic settlement of your share transactions through STRATE, the electronic settlement authority.

FSB Investor Protection Levy

0.0002% (excluding VAT) on all trades (excluding international markets)

Custody

0.10% per annum (excluding VAT) levied monthly on an account by account basis:

JSE Shares

  • Minimum of R50.00 per month
  • Maximum of R200.00 per month

International Shares

  • Minimum of USD/EUR/GBP 5.00 per month
SAFEX & Clearing

SAFEX fees are based on a percentage of the closing price of the Index future. Trade fees quoted are ALL inclusive of commissions, VAT and SAFEX and Clearing fees.

Stamp duty

UK: 0.50%

PTM* levy

£1 per trade (Only applicable on trades over £10 000 pounds for shares listed on the London Stock Exchange)

*A charge automatically imposed on investors, and collected by their brokers, when they sell or buy shares with an aggregate value in excess of £10 000. The money raised goes to the Panel of Takeovers and Mergers. The Panel writes and enforces the rules by which takeovers of companies listed on the London Stock Exchange are conducted.

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.

Variable Fees Cost (ex. VAT) Frequency Notes

International Stocks

Live Level 1 – Non-Professional End User
R12.00 *Monthly

JSE

Live Level 1 – Non-Professional End User
R82.68Monthly

International Stocks

Live Level 1 – Professional End User
R960.00 *Monthly

JSE

Live Level 1 – Professional End User
R270.00Monthly

* Fee is subject to change based on variations in the USD/ZAR exchange rate.

JSE Policies can be found on the JSE website.

Administrative Costs

Service Fee (ex VAT) Description
Withdrawals

R 25.00

R 250.00

Per withdrawal

Per real-time withdrawal

Outward Portfolio Transfers (‘Exit Fee’)

- R 50 for JSE Stocks

- USD 30.00 for US Stocks

- USD 60.00 for Other Stocks

The fee incurred per share holding to transfer to another broker.

Maximum Fee Limits:

  • JSE Stocks: R 450
  • US Stocks: USD 100
  • Intl Stocks: USD 180.00
Transfer of Ownership

R 100 for JSE Stocks USD 25.00 per share holding

Change of beneficial ownership of shares

Interest on Account Equity

Base Rate less 2.00%

The interest earned on funds in your account.

Note: In the event that a negative Net Free Equity and/or Account Value balance occurs interest will be charged at a rate equal to the Base Rate plus 5% per annum.

Foreign Investment Facility

0.50% per annum

A fee of 0.50% per annum is charged on the use of Velocity Trade’s Foreign Investment Facility (sometimes referred to as ‘Asset Swap’).

Wire Fee

R 450

A daily Wire Fee is charged in relation to the settlement of payments to and from your trading account where a currency conversion occurs.

  • This fee is charged per day and not per trade.
  • rades filled before 1400h GMT+2 will share the cost of the daily Wire Fee.
FX Translation

Daily FX Spot rate

A daily FX Translation adjustment is applied to the settlement of payments to and from your trading account where a currency conversion occurs.

  • Trades filled before 1500h GMT+2 will be adjusted using a daily FX Spot rate.
  • Trades filled after 1500h will be adjusted using a daily FX Spot rate for the following business day (South Africa).

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.

Note:

  • 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.

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 then you can make use of Velocity Trade’s institutional foreign investment allowance.

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

Long Positions Short Positions

We charge 3.00%* above the relevant interbank rate, e.g. SAFEY.

For example: If the relevant interbank 1-month rate is 0.50%, you would be charged 3.50% (annualised).

You receive the relevant interbank rate, minus 3.00%*.

  • If the interbank rate is greater than 3.00%, we credit your account
  • If the interbank rate is less than 3.00%, your account is debited.

For example: If the relevant interbank 1-month rate is 0.50%, you would be charged 2.50% (annualised).

* 3.50% on international CFD contracts

Forex Positions

For CFD Forex positions, we apply an adjustment overnight, which reflects the interest rate differential between the two currencies.