Learn as much as you can about CFDs from our tutorial and other sources. Open a demo account and familiarise yourself with the platform and the working of CFDs. Call us with any questions or to arrange to come in for further training. Once you are happy you can go ahead and click on the open live account option.
1. Click the link on the Open Live Account link to open a live account with IG.
2. Fill in your details and the application form will be provided to you.
3. Complete the application form and attach the required FICA documentation and fax or scan-and-email it back to us. We will check the details and open your account within 1 business day. (You do however need to send us originals within 2 weeks.)
A contract for difference (CFD) is an agreement to exchange the difference in value of a particular instument between the time the contact is opened and the time it is is closed. Coupled with that gearing is offered to allow clients to get much more exposure to the market movement and fees are much lower than traditional equity trading.
As soon as we receive your application and have checked it, we will supply you with the correct details for you to make an electronic transfer of funds. Please note that we cannot accept cash deposits or payments from any other sources. The proof of payment must come from an account in your name. You will also be called upon to deposit additional funds for any margin calls that may occur.
You can at any time send us a request to withdraw funds from your account. We will verify the amount that is available to withdraw and call you to confirm. Funds will then be transferred back into the account details we have on file for you within 2 working days.
No software is needed. The system uses very modern web browser technology to provide you with an extremely high quality trading system in your standard web browser. This is is very quick and easy to use from anywhere!
The South African Reserve bank does not allow South Africans to transact in forex or any overseas markets without taking money offshore via your foreign currency allowance. We will be facilitating this in the near future.
We have selected shares that have a high liquidity in order to reduce the risk to clients and to ourselves. As a result we only offer shares that have sufficient liquidity in the market that enables one to enter and exit the share timeously. Currently there are +-140 shares that meet the criteria.
CFDs are a leveraged product and can result in losses that exceed your initial deposit. Trading CFDs may not be suitable for everyone, so please ensure that you fully understand the risks involved. All dealings are on an execution only basis. SharenetCFDs does not give advice and any statement made by SharenetCFDs to a client shall not constitute advice or a recommendation to trade or close a trade in any way.
You will have to seek advice from your tax advisor as each circumstance is different, however in general as one tends to trade CFDs a lot SARS would see you as a trader and tax you on the profits and not the capital gains.
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