I contacted the bank and apparently the broker fees gets added to the "what I spent" limit. Which is nice to have as an accurate calculation I guess.
So that adds up then...
The guy on the phone also added that the "best price" rather than the "limit" option could have factored, but I think mine was confirmed at 54.89 based on the SMS and email. Because I don't think SHF went above R55 on the 19th anyway.
So at 340 shares (18.8k) the fees bolted it up by nearly 54 cents a share. Which means the trade would have cost me R184-00. Which is roughly 1%.
So lets compare:
Share Investor customers are charged an account fee of R49 per month with the following charges per trade:
Brokerage of 0.6% (excl. VAT) or a minimum of R80 (excl. VAT)
Investor protection levy (IPL) of 0.0002% (excl. VAT) of capital investment
STRATE fee of 0.005459% with a minimum of R10.95 and a maximum of R54.59 (all excl. VAT)
Securities Transfer Tax (STT) of 0.25% on the capital investment. This charge applies only to BUY transactions.
0.6% * 18662.6 = R111.98 (Exceeds minimum Brokerage Fee)
0.0002% * 18662.6 = R0.04 cents
0.005459 * 18662.6 = R1.02
0.25% * 18662.6 = R46.65
=R159.69 + 14% VAT = R22.35
=182.04 (Close to R184 but I rounded off a lot...)
All in the learning experience
Good for other new entries in the market to know...