Attijari Intermédiation: Wafabourse fees, PEA rules and bank custody

The reference below covers the Moroccan Wafabourse service checked on 17 October 2026. The account wrapper determines investment and withdrawal rules; ECO and TRADING determine the online subscription and brokerage tariff.[3][5]

Only one PEA may be held per person. The AMMC’s 2026 guide sets a MAD100 statutory first-payment minimum and MAD2,400 annual contributions, distinct from Wafabourse’s commercial opening threshold. The tax holding period starts with the first payment.[8]

The PEA implementing order allows the annual contribution minimum to be carried between years. Confirm the plan’s contribution record before relying on that carryover.[9]

View full spreads & trading costs

This profile is classified as stocks, reflecting the documented share-and-fund brokerage service. AMMC separately records Attijari Intermédiation as a futures trading member from 6 April 2026 under approval 648.26. A live Wafabourse retail futures account, margin schedule and dealing terms were not established from that permission.[14][3]

The custody schedule specifies valuation and billing frequency without explicitly annualising its 0.15% rate. Confirm the agreed Wafabourse custody basis with the bank; the linked subscription agreement uses a different, unclear unit for this charge. Brokerage can be negotiated with Attijari Intermédiation, while custody and settlement terms are agreed with the bank.[7][2]

Morocco’s 2026 tax code applies 10% VAT to the relevant securities-brokerage and banking transactions. The percentages above are charges on the transaction or service; income and capital-gains taxes are separate.[9]

Calculated share-order example: on MAD10,000, brokerage, settlement and exchange charges total MAD130 under ECO or MAD90 under TRADING, before VAT. Monthly subscription and custody are additional.[6]

At 10% VAT, those transaction charges become MAD143 or MAD99. Selling attracts another set of transaction charges; income and gains taxes remain separate.[9]

The one-year subscription renews automatically; termination requires a request to the bank and payment of outstanding dues. A separate inactivity-fee trigger was not established.[6]

For a system failure, the agreement provides telephone or fax instructions through the broker. Check an uncertain order’s status before repeating it; cancellation is not guaranteed.[6]

The group’s 2025 report dates the introduction of instant transfers to online brokerage accounts to December 2025, and its newer Wafabourse feature article confirms the service. The undated FAQ still describes next-day visibility. Ask the bank which instant route is enabled for the account; cheque clearance and every external transfer are not covered by a universal instant-funding promise.[20][19][11]

A PEA withdrawal before five years closes the plan and removes its tax advantage. After five years, a partial withdrawal can retain the plan’s tax treatment, but no new contributions are permitted after the first withdrawal. Income and reinvested gains must remain within the plan during the qualifying period.[8]

A complete PEA can transfer to another eligible institution with its original date, holdings, contribution history and relevant withdrawals. A new agreement is required, and fresh payments cannot begin until the whole transfer is effective. This differs from withdrawing assets and applying to open a new plan.[9]

The account displays accounting cash and pending operations separately. Public material does not provide a multi-currency dealing-account list or a retail FX-conversion markup; any foreign-currency remittance should be agreed with the bank. A closure request requires a signed branch form.[10]

AMMC’s current stockbroking entry identifies Attijari Intermédiation under licence 3/19 and dates its first authorisation to 28 October 1994. Its register lists Attijariwafa bank as the 99.99% shareholder.[13]

These liquidation arrangements concern eligible claims to cash or securities, rather than a promise to reimburse a falling portfolio. Which institution holds the relevant asset and owes the obligation matters when identifying a claim. The published cap is not supplemental private insurance or an unconditional entitlement for every bank-held asset.[15]

Send a reasoned written execution dispute to the broker within the agreement’s 15-working-day period from the transaction.[6]

AMMC accepts investor complaints through its complaint portal. A supervisory complaint is distinct from the liquidation-fund process.[15]

Opening requires the subscription form and investor questionnaire, followed by signed documents at an Attijariwafa bank branch. The branch supplies the login and the broker supplies the password after validation. The agreement is tripartite between investor, bank and broker.[4]

Password recovery uses the login and registered email. If the email is unavailable, the FAQ directs the investor to a branch for a signed, stamped request. Changing the registered email or pricing formula also requires an identified request; closure is handled through the branch. No universal post-reset withdrawal-hold duration is published.[10]

Website terms require a password change on the first connection, reporting suspected credential compromise and protecting access codes. The broker can suspend access on suspected fraud or inaccurate identity information. These are access controls; they do not establish an account-inactivity timetable.[1]

Wafabourse provides authenticated real-time quotes, while public market tracking is delayed by 15 minutes. Online tools include charts, watchlists and research recommendations. The 2025 redesign added clearer account navigation and automatic execution-notice downloads.[18][19]

The account provides PDF and Excel portfolio exports, transaction and annual tax views, and execution records. Preserve the records needed for tax reporting before closure; the public material does not specify continued client access after the relationship ends.[10]

Quarterly transaction journals and execution notices are available to download.[3]

Attijari’s assisted execution service describes VWAP, inline and market-on-close algorithms, alongside personalised advice and post-trade follow-up for institutional and individual clients. Their purpose is to execute an agreed dealing instruction.[17]

The parent’s 2025 report records MAD43.2 billion of central-market volume and MAD8.7 billion of block business, representing 18.9% across those segments. Its reported online-brokerage share was 48.2%, up from 47.5% in 2024. These are company-reported market measures with different denominators.[20]

Wafabourse began in 2007, with earlier redesign work in 2011 and a new platform in 2025. The current Wafabourse contact address is Borj Attijari in Casablanca Finance City, also reflected in the stockbroking register. Older contracts and the separate futures register retain the Avenue Hassan II address.[19][16][13]

Headquarters

Casablanca, Morocco

Founded

Brokerage service since 1995; Wafabourse launched 2007