Brokerage is charged on the value of the transaction, on each completed transaction.
Brokerage is based on a sliding scale depending on the value traded per month.

Interest charges
There is a daily charge on the exposure of long positions and a credit is earned daily on the exposure of short positions.
The rate used is based on the South African Futures Exchange Yield (SAFEY), which is an overnight floating rate. The exposure is calculated on the closing price of the underlying instrument.

Long position charge: SAFEY +2%
Short position earns: SAFEY –3%

Clients will earn interest of SAFEY –1.5% on all funds in their margin account. This will be posted to the clients account at the end of each month.

Dividends
Holders of long positions receive an amount that is equal to the cash value of the dividend that holders of the underlying security receive. Holders of short positions pay an amount equal to the cash value of the dividend that holders of the underlying security receive.
Payments of these amounts are made on the ex-Div dates.

Margining and Margin calls
Client positions may be closed out any time if there are insufficient funds to cover a margin call. It is the client’s responsibility to ensure that there are sufficient funds to meet margin calls and that transfers made are cleared in time in order to meet margin requirements.