I personally am very skeptical when it comes to stock market investments and Standard bank has what we call the AutoShare Invest Account. This account allows you to place a purchase order to use available funds in your trading account subject to the minimum trade sizes of R250.
You can top up your account easily from your bank account to your trading account in just a few clicks should there be insufficient funds in your account. When it happens that you place an order during closed hours of the market, it will automatically be sent to the mark as soon as it opens.
You can automate your investing by setting up recurring purchases on the date that suits you. When it suits you, you can place a sale order stipulating the number of units held you wish to sell.
“Choose whether to have the proceeds of the sale remain in your investment account (so they may be used for a later purchase) or to have them automatically paid out to your bank account (this will happen 3 business days after the sale). Any unused funds in the account do earn interest”, writes Standard Bank.
“Brokerage is charged at 0.15% of the value invested with no minimums. A 0.12% annual safe custody fee will be levied at 0.01% per month.”
The AutoShare Invest account provides low-cost access to the stock market. You will have access to more than 250 JSE listed shares and ETFs ( Exchange Traded Fund)
For more information on the account visit: https://www.standardbank.co.za/southafrica/personal/products-and-services/grow-your-money/savings-and-investment/our-accounts/autoshare-invest-account
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