Sanlam Account Type

Sanlam offers various types of trading accounts to cater to different investor needs. The primary account types include:

• Local JSE Trading Account:
• Minimum Deposit: R5,000
• Features: Full trading capability on the Johannesburg Stock Exchange (JSE) for shares, warrants, and instalments.
• Global Trading Account:
• Minimum Deposit: R200,000
• Features: Access to international markets, allowing trading on more than 20 international exchanges.
• iTrade Standard Account:
• Cost: R50 plus VAT per month.
• Features: Limited access to live prices (150 free prices per month, delayed by 15 minutes).
• iTrade Pro Account:
• Cost: R130 plus VAT per month.
• Features: Unlimited live prices including on watchlists and portfolio shares.
• iManaged Portfolios:
• Minimum Investment: R200,000
• Management Fee: 1.5% portfolio management fee plus R25 monthly cost, excluding VAT.

Sanlam Broker Account Opening Process

To open a trading account with Sanlam, follow these steps:

• Choose Your Account Type: Decide whether you want a Local JSE Trading Account, Global Trading Account, or any of the iTrade options.

• Registration: Complete the online registration process. This may take up to 5 working days to activate your account.

• Documentation Required:

• Proof of address not older than 3 months.
• Scanned copy of your identification document.
• Communication from your bank that includes your name and bank account number.
• Communication from SARS that reflects your name and tax reference number (not older than 12 months).

• Deposit Funds: After registration, you will receive an email with bank details and a unique reference number to deposit the required minimum amount.

• Account Activation: Once your documents are verified and the initial deposit is received, your account will be activated, allowing you to start trading.

For more details, visit Sanlam iTrade.