SAXO CAPITAL MARKETS ACCOUNT OPENING MOVING MONEY OFFSHORE MARGIN LENDING HOW TO TRADE
ACCOUNT OPENING Account Opening - Accounts opened with Saxo Capital Markets UK Ltd - Regulated by FSA - Paper application form completed and signed* - Application with supporting documents sent to Esther* - Esther checks documents and submits to Saxo JHB for checking - Application submitted to Saxo London for opening - Saxo London communicate directly with Courtney for any outstanding requirements - Once open, account details sent to client. Courtney is copied in (2-3 working days) - Links to download various platforms included in the mail along with bank details 2
KYC REQUIREMENTS Documentation - Passport (valid) - Proof of Residence • Utility Bill • Bank statement • Letter from bank - Power of Attorney - No originals required - Exceptions and Certifications 3
MOVING MONEY OFFSHORE Exchange Control Regulations: A maximum of 5 million Rand may leave the country per annum per tax payer R1m: No Tax Clearance certificate required R4m: Tax Clearance certificate required Once the money has left South Africa, there is no obligation to return the funds Trading the loop Tax Reporting 4
MOVING MONEY OFFSHORE Exchange 4 Free Competitive rates on several currency pairs with no commission fee’s (fixed exchange rate at the predetermined time) Suspense account with major banks, client funds not held by E4F Provide documentation (ID, Proof of Residence and Tax Number) Once ZAR has cleared rate is negotiated and fixed Money in trading account within 2 working days Close relationship with Saxo Capital Markets, all account details on file 5
MARGIN LENDING Using Stock as collateral Use up to 70% of the value of your stock to trade margin products Transfer stock into Saxo via fully automated scrip transfer process Trade with no additional cash 6
Thank you for further information please contact e-mail: EstherE@courtneycap.co.za 7
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