Stockbrokers offer two main types of tax-free accounts: a managed account in which the broker determines what to invest in, and a do-it-yourself account in which you select the investments. The investment universe is restricted to the 40 or so eligible listed exchange traded funds (ETFs). Costs include commissions when you buy or sell an ETF, while the ETFs themselves have an embedded management fee that can be seen on the relevent fund’s fact sheet. Costs listed below are the total expense ratio. ETFs provide various types of exposure, including foreign stock indices, though most are focused on JSE-listed shares.

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