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Brokers and Fees Comparison

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I'm with Standard Bank Online Share Trading and I was just wondering how the fees structures and services compare with other brokerages and if you're happy with your broker.

 

Standard Bank has the following fees structure:

 

Equities

Monthly account cost: R90

0.50% per trade with a minimum of R90 + VAT

STRATE fee: R10.71

So the minimum fee per trade is R114.81 before transfer fees.

 

TFIA

0.25% + VAT (No minumum fee)

 

CASH

Interest earned on cash balance is 5.68%

 

What I like about SB Online Share Trading:

- It does what it's supposed to do and works well and is never down (as far as I know).

- Cash transfers to and from my Standard Bank accounts are instant.

- Fast and efficient brokers for phone trades - phone is normally answered within 10 seconds.

- Detailed reporting such as annual and lifetime TFIA balances, even those not on the share trading platform (done by ID search).

- Free detailed analysts forecasts and consensus and detailed research on almost all stocks

- Instant SENS and news notifications for all stocks on watchlist

 

What I don't like about SB Online Share Trading:

- 25c fee for every sms including logging on.

- 16c for every live quote. It's not so much he 16c that I'm not happy with - it's that you do get a R10 balance for quotes and sms's included in the monthly fee, and Standard Bank advertises on their cost structure that you get an additional R5 for every trade, but to date I have never received the additional R5. Also, it charges you the 16c live quote fee even when the market is closed.

 

My rating of Standard Bank's Online Share Trading: 4.5/5

 

I would love to know how this compares to other brokerages, so post here if you'd like to give your thoughts, comments or fees structure of your broker.

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Hmmm... It seems like SB is the most expensive.

 

But do the others also provide services such as free analysts forecasts and consensus and detailed research etc.?

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You may want to investigate Easy Equities. I have just started investing on that platform.

Fees of 64c per R100. You can also buy fractions of shares. Sanlam is 30%equity owner of Easy Equities

 

Sent from my SM-J730F using Tapatalk

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Unless you need functionality like stop loss and limit orders Easy Equities is the way to go.

 

ABSA ETF Only is also cheap if you are only dealing with ETFs and gives you all the nice stuff a regular platform should.


IQ Test

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ABSA (all) have shockingly bad charting software - might as well not have it it's so bad. BUT the best for TFSA and for their ETF only offering.

 

EE depends on how much you are investing and duration. If your min trade is going to be R20K+ might be worth looking elsewhere. You can use it for swing trading liquid counters. Have check prices with my other accounts numerous times and they do give the best offer price at time of purchase. Guys that don't understand bid/offer should stay away - maybe let an adult do their investing for them.

 

GT247 (MT5) - CFDs - so for day/swing trading. Fantastic scalping/ day trading platform - not the best for swing trading as you cannot modify/place orders after the market closes - bit of a problem. 0.2% costs on buying and selling with no minimums, super cheap. R68 (+-) p/m for live prices.

 

For charting I use investing.com with a free account. Fantastic - some prices are live, others 15min. You can save charts as well.

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