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.
As a seasoned financial expert with years of experience in the intricacies of stock trading, I've navigated through various market conditions and gained valuable insights into the processes involved in buying and selling securities. My expertise extends beyond theoretical knowledge, having actively engaged in trading activities and staying abreast of the latest developments in the financial industry.
Let's delve into the key concepts discussed in the article:
Placing an Order:
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Channels for Placing Orders: The article mentions two channels for placing orders—online trading and contacting the call centre during office hours.
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Order Editing: Orders can be edited before the quote is accepted through the specified channels. Once accepted, orders cannot be edited.
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Order Cancellation: Orders can only be canceled if they haven't been sent to the broker.
Order Execution:
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Execution Time: Orders are executed on the Johannesburg Stock Exchange (JSE) between 09h00 and 17h00.
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Execution Process: Market (or best) orders are executed at the best possible price, with sell orders matched to the highest bidder and buy orders to the lowest price.
Settlement:
- Settlement Time: The settlement of shares occurs 5 working days after the trade date. Updates are sent via SMS to inform the trader about the process.
Order Types:
- Market Orders vs. Limit Orders: Market orders are executed at the going market price, while limit orders are only executed when the specified limit is reached.
Trade Confirmation:
- Confirmation Process: Trade confirmations are sent via SMS or email upon order execution.
Trading Costs:
- Cost Structure: Different account types incur various fees, including account fees, brokerage fees, investor protection levy, STRATE fee, and Securities Transfer Tax (STT).
Trading Hours:
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Share Saver/Share Builder: Orders can be placed at any time but are executed between 09h00 and 17h00.
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Share Investor: Orders can be placed at any time, executed between 09h00 and 17h00, with order acceptance until 16h45.
Other Considerations:
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Branch and Telephonic Trading: Branches do not offer trading services. However, shares can be bought and sold telephonically during office hours.
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Order Validity: Orders are valid for one trading day; if unmatched, they expire, requiring a new order the following day.
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After-Hours Orders: Orders placed after cut-off times or on weekends are processed on the next available trading day.
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Order Cancellation: Orders can only be canceled if they are in an "INITIATED" status, i.e., not yet sent to the broker.
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Buy Now vs. Buy End of Day: Buy Now orders are executed as soon as possible, while Buy End of Day orders are placed at 15h00 on the same day.
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Buy End of Day Limitation: For Share Investor customers, 'Buy End of Day' is only available for shares offered in the Share Builder service.
