Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Moneyweb finds Standard bank most expensive

Reply
Not applicable
Moneyweb finds Standard Bank most expensive for CFD trades. On 30K trade R306 compared to say IG index at R244. Thats 27% more expensive.
0 Kudos
21 REPLIES 21
MarkD
Contributor
1.02% versus 0.8% of the value of the trade. 0.22% difference. Im sure the people who really care will change...
0 Kudos
SimonPB
Valued Contributor
but they completely missed the story ..
0 Kudos
Not applicable
0 Kudos
Not applicable
Ig represents no greater risk than SBK...very large stable company. I would rather say one word...Service!
0 Kudos
SimonPB
Valued Contributor
oh dear Riaan .. well you put your foot through the door so lets test the toes for chopability ..
for a R30k trade GT was most expensive at R344, not SB
if service at SBK is so shocking (as you imply) and hence we can assume you don't atend the courses nor trade/invest using OST, why are you paying R50/month to be here ?? It must be the excellent discourse on the chat forum ??
"IG represents no greater risk than SBK" ?? Really ?? I mean really ?? Aside from SBK being 8 or 9 times larger, you have purused both of their balance sheets, cash flows, corporate structure and the like in order to make such a statement ??
0 Kudos
AJT
Super Contributor
looks like not only did you get his toes, but managed to get his tough as well :))
0 Kudos
AJT
Super Contributor
0 Kudos
Electrox
Super Contributor
som1 just got ravaged by words.. speechless
0 Kudos
Rams
Super Contributor
0 Kudos
Not applicable
Simon…your interest here is duly noted..you cannot be expected to be impartial here as you still derive income from Standard Bank and no doubt hope they will sponsor your website. You are incorrect regarding GT on average their costs are on average R 242 for that amount (they have 3 rates). Their costs can be as low as R130 for that amount if you trade more frequently. I ask the same question of you. Have you gone over IG’s financials in the same detail? The fact that you mention that Standard is bigger than IG is just plain stupid. You have absolutely no grounds to imply that IG represents more counter party risk. Lehman was also bigger.
0 Kudos
SimonPB
Valued Contributor
well you said on a R30k trade so the R344 applies to GT not the other rates ..

I have had a simple glance at IG numbers over the years and follow the SBK numbers fairly closely as it a stock I own and of course cover .. but the point is I didn't make the statement about IG having same counter party risk as SBK, not saying you're wrong (that's a more detailed response which we can unpack if you like) .. I just asking if it was a throw away comment to try and prove a point or an informed point .. seems it was throw away ..

an point 2 on why you still here if it so ****** ??
0 Kudos
SimonPB
Valued Contributor
an yes I do earn money from SB, that hasn't been a secret since I started freelancing for them back in about 2005 ..
0 Kudos
SimonPB
Valued Contributor
the other issues the writer of the MNY piece missed are;
what is the short rate paid?
on what is the rate charged/paid ?? initial expsoure or rolling exposure ??
how are dividends ceded ??
data
counter party
margin interest earned ??
who holds the margin??
what margin ??
an others ..
0 Kudos
Not applicable
Thanks for putting your defense of Standard bank into context. I speak as a customer of both IG and Standard Bank and I am comparing service and the costs I pay and currently IG is the better deal and offers far better service despite being in the UK. Dont believe me check out SBK response times etc for yourself. Of course IG has huge added benefit of making a 24 hour market so there are as you say more than just costs which need to be taken into account.
0 Kudos
Not applicable
I also wouldn't bite the hand that feeds me..
0 Kudos
SimonPB
Valued Contributor
this is not about service (cept for your trying to turn it into, IOW straw man just like others who must not be named) .. it is about your counter party risk position .. whch you are totally ignoring .. check the 3 points I raised ..
0 Kudos
SimonPB
Valued Contributor
lol, first it was my trade you was all worried about .. now it my hands !!
0 Kudos
Not applicable
LOL and look how your trade turned out!
0 Kudos
SimonPB
Valued Contributor
Ok so you have no actual comment or factual response to my Q's .. fair enuff, we'll move on ..
0 Kudos