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FAQs - Buying and selling
How do I place an order to buy or sell?
You have 2 channels to choose from: either trade online, or contact our call centre on 0860 SHARES (0860 742 737) during office hours.
How do I edit my orders?
Orders can only be edited (via the channels listed above) BEFORE the quote has been accepted. Once the quote has been accepted they cannot be edited. Also note that orders can only be cancelled if they have not been sent to the broker.
When is my order executed on the JSE?
An order is executed once it is matched to a sell order. Matching of orders on the JSE starts at 09h00 and ends at 17h00.
How is my order executed?
Market (or best) orders are executed at the best price possible. For a sell order, the shares are sold to the highest bidder. For a buy order, the shares are bought at the lowest price.
How long does it take for my shares to settle?
The trade of your shares will be settled by the broker 5 working days after your trade date. However, you will receive updates via SMS to guide you as to where your shares are in the process. An SMS is sent once the trade is performed and a second SMS is sent once the trade has settled.
What is the difference between a market order vs. a limit order?
Limit orders are only executed when the specified limit is reached. For a sell order, this is when a price is obtained which is higher than the limit sell price. For a buy order, this is when a price is obtained which is lower than the limit buy price. In contrast, market orders are executed at the going market price.
How are trades confirmed?
A trade confirmation is sent via SMS or email to customers on execution of the order. No broker notes are sent.
What are the costs of trading?
Share Saver customers are charged a monthly account fee, which is based on the market value of your portfolio. It is calculated per annum but charged monthly. Values from R0 to R250 000 are charged 0.40% per annum (plus VAT); values from R250 001 to R1 000 000 are charged 0.35% per annum (plus VAT), and values greater than R1 000 001, 0.30% per annum plus VAT.
The following charges apply per trade:
- Brokerage of 0.6% (excl. VAT) or a minimum of R40 (excl. VAT) for trades on the day at 3pm
- Brokerage of 0.10% (excl. VAT) for trades delayed until the first trading day of the month
- Investor protection levy (IPL)* of 0.0002% (excl. VAT) of capital investment, which is not applicable for trades delayed until the first trading day of the month
- STRATE fee* of 0.005623% with a minimum of R10.95 and a maximum of R54.59 (all excl. VAT)
*These fees only apply to trades on the day.
Share Builder account holders are charged an account fee of R19 per month and an all inclusive brokerage or trading fee of 2% (excl. VAT) per trade, calculated on the capital investment amount with a minimum of R50 per trade (excl. VAT).
Share Investor customers are charged an account fee of R49 per month with the following charges per trade:
- Brokerage of 0.6% (excl. VAT) or a minimum of R80 (excl. VAT)
- Investor protection levy (IPL) of 0.0002% (excl. VAT) of capital investment
- STRATE fee of 0.005459% with a minimum of R10.95 and a maximum of R54.59 (all excl. VAT)
- Securities Transfer Tax (STT) of 0.25% on the capital investment. This charge applies only to BUY transactions.
What are the trading hours?
A Share Saver or Share Builder customer can place orders at any time, but these are only executed between 09h00 and 17h00. We accept orders for that day only until 15h00. A Share Investor customer can place orders at any time and these will be executed between 09h00 and 17h00. We accept orders for that day only until 16h45.
Can I buy and sell shares through my branch?
No, the FNB branches are not able to offer this service.
Can I buy and sell shares telephonically?
Yes you may. Contact our client services helpdesk on 0860 SHARES (0860 742 737) during office hours.
For how long will my order remain in the market?
Orders are only valid for 1 trading day. If these are not matched in the market for the day, they expire and you will have to place the order again the following day.
What happens if I place an order after cut-off times/on the weekend/after hours?
The order is stored on our system and placed on the market on the next available trading day at 09h45 for Share Investor accounts and 15h00 for Share Saver and Share Builder accounts.
What happens if I change my mind after placing the order?
Orders can only be cancelled if they are in an "INITIATED" status, i.e. they have not been sent to the broker.
What is the difference between 'Buy Now' and ' Buy End of Day' ?
Buy Now orders are placed on the market as soon as possible. Buy End of Day orders are placed at 15h00 on the day.
For Share Investor customers, why is 'Buy End of Day' greyed out for some shares?
Buy End of Day is only offered on those shares that are available on the Share Builder offering.