What does Clarity cost?

There's zero commission charged when trading with Clarity and we don't charge any admin or platform fees.

We charge competitive spread and margin rates. Here is a breakdown of our fees.

Spread

For both local and offshore trades, a maximum amount of up to 20 basis points (0.2%) increase in spread on either bid or offer side depending on if you buy or sell. The amount of up to a maximum of 20 basis points is included in the instrument price displayed and not displayed separately.

The spread is the difference between the Bid (sell) and Offer (buy) price where you can execute the transaction. The spread is set by the reference asset / underlying price and is influenced by liquidity and the volatility of the reference asset.

For example, if the bid price is 3.13 and the offer price is 3.18 the spread is the difference between these, which is 0.05

Margin Rates

If you trade without leverage, in your non margin account then there will be no overnight fees or margin rates. The below fees are only applicable if you trade through your margin account.

Local ZAR Margin account

Long: REPO + 2%
Short: REPO – 1.5%

Offshore USD Margin account

Long: FED FUNDS Rate + 2%
Short: FED FUNDS Rate -2%

When transferring ZAR into USD or USD into ZAR, a 50 basis points spread is applied. This spread is included as part of the live rate that you are quoted during the transfer process. The price you see is the price you pay, and there are no additional costs for foreign exchange with Clarity.