CFD Costs:
NB - All costs exclude VAT.



Effect on holder


Market makers spread / Brokerage 0,35% Pays Calculated percentage based on the underlying value at the time of the trade
Minimum Brokerage per transaction R40 + 0.08% = Maximum R49. Pays Flat fee per trade plus percentage, not per day
Rebate on total Brokerage paid in a quarter 10% to 25% - See below Receives Rebate per account if brokerage exceeds threshold for a calendar quarter
Position Interest – long Prime Rate less 1% Pays Based on the market value of aggregate long positions at the end of every business day
Position Interest – short Repo Rate less 1.5% Receives Based on the market value of aggregate short positions at the end of every business day
Script lending cost - short 0% - Included in interest on short None The cost of borrowing script for short positions is included in the position interest.
Interest – Initial Margin deposit Repo Rate less 1.5% Receives Based on the amount of Initial Margin held at the beginning of each business day
Cash corporate events – Long position Actual Receives Based on actual corporate event amount
DWT on dividend corporate events – long positions 15% Dividend Withholding Tax Pays Payment of 15% Dividend Withholding Tax to SARS
Cash corporate events – short positions Actual Pays Based on actual corporate event amount
Rebates for Active CFD Accounts
From 1 April 2017 Sanlam iTrade will rebate a percentage of the actual brokerage paid by active CFD accounts as follows:

Total Brokerage paid for the quarter:

% Rebate:

R30,000 – R59,999 10%
R60,000 – R89,999 15%
R90,000 – R119,999 20%
R120,000 or more 25%
  1. Rebates are calculated on the CFD brokerage paid only.
  2. Rebates are calculated per account and not per client.
  3. Quarter means one of the four calendar quarters; e. g. April to June.
  4. Brokerage exclude VAT.
  5. Rebates will be credited to the account within 30 days after the quarter end provided the account is still active.
  6. Rebates are only paid on accounts paying the standard brokerage scale where no other agreements exist, for example Third Party Manager agreements.
  7. Sanlam iTrade has the right to amend or cancel rebates at any time giving 30 days’ notice.
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