Back to SatrixNOW Submit a ticket
  1. SatrixNOW
  2. Solution home
  3. Account and Profile settings
  4. SatrixNOW - Popular Questions
Open navigation

Who can buy shares on the SatrixNOW platform?

There are 3 types of Investor that are eligible to open a SatrixNOW account. These are:

1. Individuals - natural persons* of legal adult age Must be South African residents or residents of the Common Monetary Area which includes Lesotho, Namibia and Swaziland

2. Minors - being natural persons under the age of 18 who are not an emancipated minor (Ie. has not been legally freed from control by his or her parents or guardians)

Must be opened by an Authorised User who is a natural person identified in the Application Form duly authorised to trade on the Minor's account

3. Corporate Bodies - any juristic person including any company, close corporation, firm, trust, government, state, agency or organ of state, society, association or partnership.

Must be opened by an Authorised User who is a natural person identified in the Application Form who is duly authorised to trade on the Corporate Body's Account.articipants must be South African residents and of legal adult age.

To see what the registration requirements are for each different type of account, please visit this FAQ article - What is FICA? - and select the type of account you wish to open from the table shown there.

PLEASE NOTE:

For full details on who is eligible, please visit our Terms and Conditions. The rules for our Tax-free savings account (TFSA) are different and only natural persons* who are South African citizens are able to open a Tax Free Savings Account.

NOTE

* A natural person is a real human being, as opposed to a juristic person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organisation.

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.

Satrix Managers (RF) (Pty) Ltd (Satrix) a registered and approved Manager in Collective Investment Schemes in Securities and an authorised financial services provider in terms of the FAIS. Collective investment schemes are generally medium- to long-term investments. Unit Trusts and ETFs the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of an ETF, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange.

ETFs are index tracking funds, registered as a Collective Investment and can be traded by any stockbroker on the stock exchange or via Investment Plans and online trading platforms. ETFs may incur additional costs due to it being listed on the JSE. Past performance is not necessarily a guide to future performance and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions are available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF Minimum Disclosure Document. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF Minimum Disclosure Document and or on the Satrix website.

Performance is based on NAV to NAV calculations of the portfolio. Individual performance may differ to that of the portfolio as a result of initial fees, actual investment date, dividend withholding tax and income reinvestment date. The reinvestment of income is calculated based on actual distributed amount and factors such as payment date and reinvestment date must be considered.

*Note exchange prices are delayed in accordance with regional exchange rules.South African prices are delayed by 15 minutes; North American prices are delayed by 15 minutes.