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Opening a trading account and a long term account

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Not applicable
Could I have some feedback from you guys that have been doing this for some time? Should I have 2 accounts open one to trade short term (couple of months) and one that is for the longer term (3 -5 years)?
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9 REPLIES 9
Preston
Super Contributor
Hi, depends on your trading objectives and cashflow requirement. Usually you can use a primary account as a long term trade and then use your warrant account as a short term trade,if you are trading geared instruments.
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Blik
Super Contributor
Its a good idea to separate your investing and trading accounts to cater for the different tax requirements or rules. If you do this there isnt really a way SARS can query your tax returns. This obviously has to be balanced against the cost implications of having two accounts open. IMHO.
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Not applicable
Is there a additional cost implication though. I thought you could open the 2 trading accounts and split the shares which you trade either long or short term?
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Preston
Super Contributor
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SimonPB
Valued Contributor
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GL
Contributor
Yes you should open 2 accounts, if only for tax reasons. No extra cost.
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Salv
Frequent Contributor
So just for clarity, i can open a second account and still pay my R50 a month flat rate ?
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SimonPB
Valued Contributor
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Blik
Super Contributor
Hello Simon. Is it possible to move share holdings from one account to another. So that if I open a second account, I will be able to move holdings that I would like to trade into a Trading account?
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