GENERAL FEES, COMMISSIONS, CHARGES, AND MARGIN SCHEDULE
Please find below information regarding relevant fees for Alfa Financials clients.
Deposits and Withdrawals
We do not charge any fees for deposits or withdrawals via bank wire transfer, however, please be aware that all fees charged by the bank will be passed on to the client.
If the Trading Account is inactive for one month (30 consecutive days) or more, the Company reserves the right to charge a monthly account maintenance fee.The exact fee will be calculated according to the currency denomination of the Trading Account and is set out as follows:
A 100* USD, or 1500* ZAR fee will be charged by the Company and notified to the Client.
Alfa charges commissions as we believe it is a transparent pricing model for the client. Most brokers are compensated by markups to spreads which are not specified or very vague.
All commissions are charged in the native currency of an account denomination. Therefore, a ZAR denominated account will have all the commission charged in ZAR, and a USD denominated account will have the commission charged in USD.
The following shows our commissions for a USD denominated account.
Cost of Each Trade to Open or Close: US$15*PER LOT
Clients with high account balances are rewarded with even lower commissions. The more you deposit, the lower your commissions can be.
High Net worth Account Commission Fees (Min $10,000 Balance)
|US$10000 - US$49,999||$12.5* PER LOT|
|US$50,000 - US$149,999||$10* PER LOT|
|US$150,000 - US$499,999||$7.5* PER LOT|
|US$500,000 and ABOVE||$5* PER LOT|
*VAT is charged on all commissions and other fees charged by Alfa. All prices are shown exclusive of applicable VAT.
Interest Calculation and Settlement
Interest will be calculated daily and settled upon the closing out of each trade.
Margin utilization and Compulsory Close Out Policy
Before you open a trade on Margin you are required to have sufficient funds or collateral in your account that is at least equal to the initial margin requirement as displayed on the trading platform. The margin is usually a small percentage of the overall value of the contract.
Although the margin required is small in comparison to the overall value of the contract, price movement may result in the requirement to place additional funds at a short notice to maintain the position(s). You will need to satisfy the margin requirements and failure to do so may result in a compulsory close-out of the open margined position(s).
Therefore, it is not just vital but also your responsibility to effectively manage and monitor your account at all times to ensure that the Margin Utilization does not exceed the 90% level. Any level of Margin Utilization above the 90% is considered to be in default of our margin requirement policy and will expose all the open margined position(s) to the compulsory closeout policy. In the event of your default and we are forced to initiate the compulsory close-out, you will be liable for any resulting losses incurred.