At Clarity, our ethos is transparency - we give you an overview on all the rates, fees and charges applicable to the ZAR and USD accounts.
For both local and offshore a maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell
The spread is the difference between the Bid(sell) and Offer(buy) price where you can execute the transaction. The spread is set by the reference asset / underlying price and is influenced by liquidity and the volatility of the reference asset.
For example, if the bid price is 3.13 and the offer price is 3.18 the spread is the difference between these which is 0.05
Local ZAR Margin account
Long: REPO + 2%
Short: REPO – 1.5%
Offshore USD Margin account
Long: FED FUNDS Rate + 2%
Short: FED FUNDS Rate -2%
Description | ZAR account | ZAR margin account |
---|---|---|
Minimum first deposit | R25 | R25 |
Broker commission | 0% | 0% |
Settlement and admin | No charge | No charge |
Platform fee | No charge | No charge |
Reporting fee | No charge | No charge |
Inter account Transfer fee (ZAR accounts only) | No charge | No charge |
SMS notifications | No charge | No charge |
Cash transfer out/withdrawal | No charge | No charge |
Increased Spread* | maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell | maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell |
Margin rates | N/A | Long: REPO + 2% ; Short: REPO – 1.5% |
Interest on margin account | N/A | 0% |
* The spread is the difference between the Bid(sell) and Offer(buy) price where you can execute the transaction. The spread is set by the reference asset / underlying price and is influenced by liquidity and the volatility of the reference asset.
For example, if the bid price is 3.13 and the offer price is 3.18 the spread is the difference between these which is 0.05.
Description | ZAR account | ZAR margin account |
---|---|---|
Minimum first deposit | $1 | $1 |
Broker commission | 0% | 0% |
Settlement and admin | No charge | No charge |
Platform fee | No charge | No charge |
Reporting fee | No charge | No charge |
Forex account transfer (ZAR to USD) | 50 basis points on forex spot rate | 50 basis points on forex spot rate |
SMS notifications | No charge | No charge |
Cash transfer out/withdrawal | No charge | No charge |
Increased Spread* | maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell | maximum of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell |
Margin rates | N/A | Long: FED FUNDS Rate + 2% ; Short: FED FUNDS Rate – 2% |
Interest on margin account | N/A | 0% |
* The spread is the difference between the Bid(sell) and Offer(buy) price where you can execute the transaction. The spread is set by the reference asset / underlying price and is influenced by liquidity and the volatility of the reference asset.
For example, if the bid price is 3.13 and the offer price is 3.18 the spread is the difference between these which is 0.05.
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