Full featured stockbroking account is unlikely to pay its way until your savings reach at least R50,000, which is unlikely for most of us wage slaves, writes Robert Laing THE first hurdle anyone interested in investing in the stock market faces is choosing a broking account.The choice is bewildering, with a full list of licensed stockbrokers available at www.jse.co.za/brokers/find-a-broker.To keep things simple, I will limit this column to the stockbroking offerings of the big four banks. Although big banks tend to charge more to act as custodians of your investments, they tend not to go bust as often as small "bucket shop" brokers.A problem has been that, until recently, the banks’ stockbroking offerings have simply not been affordable for small investors. I initially picked my stockbroker purely on broking fees, going with Absa whose 0.4% seemed a better deal than Standard Bank’s and First National Bank’s (FNB’s) 0.5% or Nedbank’s sliding scale starting at 0.7% for trades under R2...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.