General Information
Sharenet is a CFD and Forex broker that has been operating since 1988. The company was registered in South Africa, and its head office still operates there. The broker offers clients trading in five asset classes, including currency pairs, CFDs on indices, energy products, precious metals, and bonds. Spot shares are available to South African residents. The company provides access to the Johannesburg Stock Market (JSE). The Sharenet Group comprises of Sharenet Securities, Sharenet CFDs, and Sharenet Wealth. Sharenet CFDs is built on IG's internationally acclaimed platform and gives clients leveraged exposure to an extensive array of financial instruments Three seems no evidence that harenet CFDs is regulated by any financial agency.
Products & Services
Sharenet CFDs offers traders the opportunity to invest in global financial markets and instruments including forex spots, CFDs, shares, ETFs and Exchange Traded Commodities.
Margin
As the holder does not provide the full contract value a deposit needs to be paid to cover potential losses. This deposit varies but can be as low as 5% for some shares.
Commissions
The rate of interest charged will depend on the notional value of the position, and the currency in which the trade is held. For share CFDs, Sharenet CFDs base the rate on SABOR and a premium of 2.5% calculated from this base depending on whether you are long or short. (The premium is added to the base rate to calculate interest charges on long positions, and subtracted from the base rate to calculate the rate of interest paid on short positions). Take Equities as an example, the commission is 0.2% (changed on opening and closing position; minimum charge of R100). While for 24 hour SA40 Trading, there is no commission.
Customer Support
Thes Sharenet CFDs customer support can be reached through telephone: (021) 700 4800 as well as email: support@sharenet.co.za. Sharenet CFDs head office: 301, 3rd Floor Imperial Terraces,Tygervalley Waterfront, Bellville, Cape Town, 7530.
