At Clarity, we pride ourselves on offering a transparent trading experience. Here’s a breakdown of our fee structure:
We do not charge any commission when trading with Clarity.
We do not charge administrative or platform fees.
We maintain competitive spread and margin rates to ensure you get the best value when trading.
Understanding the Spread
The spread is the difference between the bid (sell) price and the offer (buy) price at which you can execute your transaction. It is determined by the reference asset's underlying price and is influenced by factors such as liquidity and market volatility.
Example: If the bid price is 3.13 and the offer price is 3.18, the spread is the difference of 0.05.
Spread on Trading
For trading done through both your ZAR and USD accounts (margin accounts included) a maximum 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 spread is included in the instrument price displayed and not displayed separately.
Spread on FX
When transferring ZAR into USD or USD into ZAR, a 50 basis points (0.5%) 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.
Margin rates
Margin rates are only applicable to the ZAR and USD margin accounts.
This fee will be charged in addition to the spread charged on trades and FX conversions.
| ZAR account
| USD account | ZAR margin account | USD margin account |
Trading spread | 20 bps (0.2%) | 20 bps (0.2%) | 20 bps (0.2%) | 20 bps (0.2%) |
FX Spread | 50 bps (0.5%) | 50 bps (0.5%) | 50 bps (0.5%) | 50 bps (0.5%) |
Margin rate: Long positions | N/A | N/A | REPO Rate + 2% | FED FUNDS Rate + 2% |
Margin rate: Short positions | N/A | N/A | REPO Rate -1.5% | FED FUNDS Rate -2% |
ZAR Pricing table
Below is a full breakdown on our rates, fees and charges applicable to the ZAR account and ZAR margin account with Clarity.
USD Pricing table
Below is a full breakdown on our rates, fees and charges applicable to the USD account and USD margin account with Clarity.
