PSG Wealth Stockbroking is the securities and derivatives service of PSG Securities Limited in South Africa. Investors can give their own dealing instructions or appoint a PSG Wealth portfolio manager under a separate mandate. Local shares, offshore securities, exchange-traded futures and over-the-counter CFDs have different ownership, funding and charging arrangements.[1]
Accounts & headline costs
Sections ↑Account routes and opening requirements
| Route | Entry basis | Decision-making |
|---|---|---|
| Local shares | No investment minimum; R250 brokerage floor before VAT. | Client instructions or separately mandated management.Source 2Source 4 |
| Offshore allowance account | September KID recommends GBP50,000; April mandate specifies that minimum. | Confirm the applicable requirement.Source 3Source 5 |
| Institutional facility | Recommended R1.2 million. | Separate facility charges apply.Source 3 |
| SSF or currency futures | One contract; cash sufficient for its initial margin. | Daily margin obligations apply.Source 7Source 9 |
| CFD account | R25,000 minimum opening exposure. | Exposure is not the cash deposit; instrument margin applies.Source 8 |
Individual onboarding requires identity, tax and banking evidence and recent address verification. PSG publishes separate documentation for minors, non-residents, trusts and companies, including authority to act and ownership information. These document categories do not establish acceptance of every country or every product.[6]
Products & market access
Sections ↑Instrument structure
| Product | What the account holds or trades | Operational distinction |
|---|---|---|
| Local securities | JSE ordinary/preference shares, ETFs, ETNs and warrants. | Securities ownership through custody.Source 2 |
| Offshore securities | International shares and ETFs. | Separate foreign investment mandate and currency handling.Source 5 |
| Single stock futures | JSE-listed derivatives with expiry. | Contract exposure, daily variation margin and possible margin calls.Source 7 |
| Share and index CFDs | OTC contracts with PSG Securities as counterparty. | No underlying share ownership; synthetic dividend adjustments.Source 8 |
| Currency futures | Rand-settled JSE contracts, described as 1,000 underlying currency units. | No delivery of foreign currency or use of an offshore allowance.Source 9 |
Currency futures cover the rand against USD, EUR, GBP, AUD, JPY, CAD and CHF. A currency future is a margined exchange contract; purchasing one does not fund a foreign-currency bank balance. Required initial margin remains unavailable for withdrawal while it supports the position.[9]
Costs, fees & financing
Sections ↑Charges below exclude VAT where stated; settlement and statutory costs are additional.[2][7][8]
Local shares: September 2026 published schedule
| Charge | Published basis |
|---|---|
| Brokerage floor | R250 per transaction.Source 2 |
| R29,411.76–R99,999 | 0.85% of trade value.Source 2 |
| R100,000–R249,999 | 0.75%.Source 2 |
| R250,000–R999,999 | 0.50%.Source 2 |
| R1 million upwards | 0.45%.Source 2 |
| STT | 0.25% on share purchases.Source 2 |
| Strate settlement, as listed by PSG | 0.006018%; minimum R6.29, maximum R142.20, excluding VAT.Source 2 |
| Investor Protection Levy | 0.000345%, excluding VAT.Source 2 |
| Monthly administration | Resident R103; non-resident R130, excluding VAT; waived for a month with at least three equity trades.Source 2 |
| Cash charge | 1% annually, excluding VAT, on cash.Source 2 |
Offshore account: dealing and recurring charges
| Charge | Published basis |
|---|---|
| Brokerage | 1% per trade, no minimum; zero-rated VAT.Source 3 |
| Annual custody | Portfolio: below USD75,000, 0.25%; above USD75,000–3m, 0.10%; above USD3m, 0.06%; VAT exempt.Source 3 |
| Externalisation/repatriation conversion | 0.50%; April mandate adds R450 minimum, excluding VAT.Source 5 |
| On-platform currency trade | 0.70%.Source 3 |
| Institutional facility annually | Below R5m: 1.35%; R5m–10m: 1.15%; R10m–20m: 1.05%; R20m–50m: 0.975%; above R50m: 0.90%.Source 3 |
| Settlement per trade | LSE GBP5.18; Canada/US GBP7.77; Australia/Europe/Hong Kong GBP9.32.Source 3 |
| Cash payment | GBP30.Source 3 |
| High-risk annual review | GBP250 if applicable.Source 3 |
| Variable cash interest annually | USD: Fed−1.70 percentage points; GBP: BoE−0.70; EUR: ECB−1.30.Source 3 |
The April offshore mandate lists stamp duties of 0.5% for UK/Far East and 1% for Ireland; actual instrument eligibility and market treatment determine the charge.[5]
Derivative charges and collateral
| Account | Trading and recurring cost | Financing or margin |
|---|---|---|
| Single stock futures | Brokerage 0.40% plus market-maker fee 0.10% of transaction value; administration R103/month, excluding VAT. | Funding is reflected in the futures price; KID describes approximately prime minus 2%, not a fixed current rate.Source 7 |
| CFDs | Brokerage 0.45% of transaction value; administration R103/month, excluding VAT. | KID funding reference: SAFEX plus 2%. Short borrow: 1% annually, accrued daily, minimum R50 per position.Source 8 |
| Currency futures | Quoted brokerage R17.54, excluding VAT; confirm the unstated per-order/per-contract unit. Same-day round trip charges opening leg only. Administration R103/month, excluding VAT. | Exchange order-book pricing determines funding/earning terms; margin is required.Source 9 |
The CFD KID specifies 15% initial margin for Top 40/Satrix exposure and 17.5% for the next 60 shares. On the R25,000 minimum exposure, those percentages imply R3,750 or R4,375 respectively, before dealing charges and any additional required funds. These are calculations from the stated schedule, not loss limits.[8]
Trading, platforms & execution
Sections ↑PSG offers online self-execution and dealing-desk assistance; its local-share page says desk access adds no charge.[1]
A managed portfolio gives the appointed manager the authority agreed in its mandate. Local securities orders normally reach the JSE central order book; off-book transactions are allowed where they serve the client’s interests.[4]
Stop-order behaviour
| Stage or event | Practical consequence |
|---|---|
| Price watch triggers an order | A watched price initiates a dealing instruction; it does not guarantee execution at that price.Source 11 |
| Position closed elsewhere | An old stop can subsequently create a new position. The client must remove obsolete instructions.Source 11 |
| Several stops | Overlapping triggers can submit more than one order.Source 11 |
| Triggered CFD/SSF market order | The resulting market order expires at the end of that trading day.Source 11 |
Review associated stops after manually reducing or closing a position. A displayed trigger does not confirm that a trade has executed.[11]
Funding, withdrawals & transfers
Sections ↑When cash can leave
| Route | Published timing or condition |
|---|---|
| Local share sale | Reinvest immediately; withdrawals after T+3 settlement, with up to two further bank business days.Source 2Source 17 |
| Offshore sale | KID: available one day after settlement; local portfolio five–seven business days. April mandate: redemption within seven business days from settlement.Source 3Source 5 |
| SSF/currency futures excess cash | Published one-business-day availability, then potentially two bank business days; required margin remains committed.Source 7Source 9 |
| Payments | Nominated bank account; no third-party payments under the local mandate.Source 4 |
| Non-resident banking | PSG’s FICA guide permits non-resident bank payments for stockbroking products, with supporting foreign-bank documents.Source 6 |
Moving securities and ending the service
| Action | Terms or charge |
|---|---|
| Local securities transfer | Instruction required; confirm the exit fee.Source 2 |
| Offshore incoming shares | Dematerialised GBP0/line; certificates GBP41.44/line.Source 3 |
| Offshore outgoing shares | GBP50/line, dematerialised or certificated.Source 3 |
| Offshore internal transfer | Dematerialised GBP21/line; certificates GBP41.44/line.Source 3 |
| CFD transfer | Positions cannot move in specie; closing and reopening is required.Source 8 |
| Local mandate termination | 30 days’ written notice; complete pending obligations and settle charges.Source 4 |
| Empty dormant local account | Closure may occur after six months without activity and without cash or holdings. This is separate from monthly administration fees.Source 4 |
Regulation, custody & protection
Sections ↑Entity and safeguards
| Scope | Evidence and limits |
|---|---|
| PSG Securities Limited | Registration 1996/000509/06. The company’s legal disclosure identifies FSP42996 and JSE membership.Source 13 |
| Financial-services authorisation | Historical FSB certificate: FSP42996, effective 8 March 2011, reissued 5 November 2014.Source 14 |
| Exchange member | JSE’s indexed institution directory names PSG Securities Ltd, alpha code PSG, as an equities member.Source 15 |
| Local securities and cash | Securities use PSG Nominees (Pty) Limited; client cash is paid to JSE Trustees in the client’s name, subject to settlement and fee deductions.Source 4 |
| Offshore safekeeping | The mandate requires segregated custody and a nominee holding for the client’s benefit; custodian and foreign-law risks remain.Source 5 |
| Offshore provider disclosure | KID names Platform Securities and its pooled nominee/client-money arrangements; a pool shortfall can reduce recoveries.Source 3 |
The offshore KID discusses possible compensation schemes without establishing a universal per-client payment or capital guarantee.[3]
Support & complaints
Sections ↑Stockbroking contacts
The stockbroking complaints procedure provides a five-day initial response and a four-week resolution period or an explanation of the delay. Local exchange disputes can progress through JSE Market Regulation and the JSE Ombud under applicable rules. Offshore complaints may involve the executing provider; PSG supplies that provider’s process on request.[12][18]
Research, reporting & related services
Sections ↑The local mandate provides monthly statements and contract notes; a contract note supersedes a verbal trade confirmation. Report discrepancies promptly.[4]
Offshore accounts also have monthly statements; the SSF KID describes annual tax statements.[5][7]
Scriptfin equity-backed loan
| Term | Published position |
|---|---|
| Separate provider | PSG Scriptfin, a subsidiary of PSG Securities; separate credit approval.Source 10 |
| Entry | South African residents aged 18–69, credit assessment, at least R100,000 eligible portfolio and minimum initial loan R25,000.Source 10 |
| Collateral | Up to 30% against Top 40 shares, 25% against shares 41–100; concentrated holdings can reduce the allowance.Source 10 |
| Interest and repayment | Prime-linked interest charged monthly; dividends reduce the loan.Source 10 |
| Margin call | Assessed at noon on trading days; unmet calls can cause forced sales.Source 10 |
Company & operating history
Sections ↑PSG Securities operates within PSG Wealth; the wider listed financial-services group also has Asset Management and Insure divisions. Its October 2026 presentation reports R218.448 billion of stockbroking custody assets at August 2026, separately from R91.643 billion of stockbroking portfolios within managed assets. These are published asset categories, not client counts or a market-share ranking.[19][20]
A JSE notice records the change from Online Securities Limited to PSG Securities Limited effective 29 August 2014.[16]
- Headquarters
- Waterfall City, Gauteng, South Africa (securities office)
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
PSG Securities Limited
No separate licence entry is recorded in this panel.
Sources & further reading
- Stockbroking services: self-execution and managed portfolios PSG Financial Services · Accessed 17 Oct 2026
- Local share trading account, Version 6, September 2026 PSG Securities · Accessed 17 Oct 2026
- Offshore share trading account, Version 5, September 2026 PSG Securities · Accessed 17 Oct 2026
- Securities client mandate, Version 3, June 2026 PSG Securities · Accessed 17 Oct 2026
- Foreign investment mandate, Version 7, April 2026 PSG Securities · Accessed 17 Oct 2026
- FICA documents required, including non-resident stockbroking payments PSG · Accessed 17 Oct 2026
- Single stock futures account, Version 3, September 2026 PSG Securities · Accessed 17 Oct 2026
- Contracts for difference account, Version 4, September 2026 PSG Securities · Accessed 17 Oct 2026
- Currency futures account, Version 4, September 2026 PSG Securities · Accessed 17 Oct 2026
- Scriptfin loan facility, Version 3, April 2026 PSG Securities · Accessed 17 Oct 2026
- Stop orders disclaimer PSG Securities · Accessed 17 Oct 2026
- Complaints resolution procedure: stockbroking PSG Securities · Accessed 17 Oct 2026
- Licence information and legal entity disclosures PSG Financial Services · Accessed 17 Oct 2026
- Financial services provider licence 42996: PSG Securities Limited Financial Services Board · Accessed 17 Oct 2026
- Institutional broker directory: PSG Securities Ltd, alpha code PSG Johannesburg Stock Exchange · Accessed 17 Oct 2026
- Online Securities Limited changes name to PSG Securities Limited Johannesburg Stock Exchange · Accessed 17 Oct 2026
- Equity market risk management: T+3 settlement Johannesburg Stock Exchange · Accessed 17 Oct 2026
- Amended equities rules: dispute resolution and JSE Ombud Johannesburg Stock Exchange · Accessed 17 Oct 2026
- H1 2027 investor presentation: results to 31 August 2026 PSG Financial Services · 15 Oct 2026 · Accessed 17 Oct 2026
- PSG group and its three divisions PSG Financial Services · Accessed 17 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.