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.
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.
* 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.