Standard Bank Account Type

Standard Bank offers various types of brokerage accounts to cater to different investment needs. The primary account types include:

• AutoShare Invest Account: This account allows users to invest in over 250 shares and exchange-traded funds (ETFs) with a low brokerage fee of 0.15%. It provides easy access to the stock market and the option to automate investments through recurring purchases.

• Standard Brokerage Account: This is a typical cash account where investors can trade using their deposited funds. It provides access to a wide array of investment options, including stocks, bonds, and ETFs, with no minimum balance requirements.

• Margin Account: This account allows investors to borrow money from the broker to increase their purchasing power. However, it comes with higher risks and interest fees.

Standard Bank Broker Account Opening Process

Opening a brokerage account with Standard Bank is straightforward and can be completed in a few steps:

• Choose the Account Type: Decide which type of brokerage account suits your investment goals, such as the AutoShare Invest Account or a standard brokerage account.

• Registration:

• For existing customers: Sign in to your Standard Bank online banking profile or mobile app.
• Navigate to the ‘more’ menu and select ‘open a new account’ or ‘share trading investments.’

• Provide Personal Information: Fill out the required personal and banking details for fund transfers. This includes your South African ID or passport, proof of residence not older than three months, and, if applicable, consent from a parent or guardian for minors.

• Verification: Upload identification documents for verification. This process may take a few minutes to a couple of days.

• Deposit Funds: Once your account is verified, deposit cash into your brokerage account to begin trading. Most brokers allow deposits via bank transfer, credit/debit cards, or electronic wallets.

• Start Trading: After funding your account, you can buy and sell shares and ETFs during market hours. You can also set up recurring purchases to automate your investments.

For more detailed information, visit the Standard Bank website.