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Satrix in South Africa — review, licence and costs
Score (4 of 6 axes scored)
shown, not ranked: no cost
- Reviews25%0
- Safety20%100
- Track record10%100
- Platforms10%15
Numbered by weight: axis 1 counts for most.
Key facts (4 facts)
- Onboarding entity
- Satrix Managers (RF) (Pty) Ltd (part of Sanlam Investment Group)
- Founded
- 2000
- Currencies
- ZAR
- Swap-free account
- yes
Licence check
Open an account with SatrixThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- Satrix Managers (RF) (Pty) Ltd (part of Sanlam Investment Group)
- Local standing
- FSCA-regulated domestic CIS manager
- Licence as the register states it
- FSCA-authorised FSP No. 15658; registered/approved Manager of Collective Investment Schemes under CISCA. Not a JSE trading member (fund/ETF manager).
- Leverage for this entity
- No retail forex/leverage; index ETFs and unit trusts are unleveraged
- The firm behind it
- Pioneer of index investing in SA (launched first SA ETF, Satrix 40, in 2000). Owned by Sanlam Investment Group; Johannesburg-based. Major index/ETF provider on the JSE.
- What we hold against it
- No FSCA enforcement action identified - not verified at review
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
No retail forex/leverage; index ETFs and unit trusts are unleveraged
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youFSCA-regulated domestic CIS manager
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Accounts
Account types the broker names for this country: ZAR investment account, TFSA (tax-free), retirement annuity (RA), living annuity, offshore/feeder-fund exposure via ETFs (SatrixNOW platform). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Satrix sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| EFT | 24 | 0 | 50 |
| instant EFT | 24 | 0 | 50 |
Deposit and withdrawal methods (2 methods · 2 local)
EFT, instant EFT, debit order
- EFTlocal
- instant EFTlocal
- Account currency
- ZAR
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(1 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- SatrixNOW
- EasyEquities
| Class | Leverage |
|---|---|
| SatrixNOW | —ZA |
| EasyEquities | —ZA |
Pros and cons(3 for and 4 against, each tied to a figure on this page)
- Locally authorised, licence 15658, read on 11.07.2026
- Swap-free account available
- Safety 100 of 100, its strongest of 4 scored axes
- Round-turn cost not priced: the pair of spread and commission is not published
- Withdrawal time not published
- Reviews 0 of 100, its weakest of 4 scored axes
- Not scored on round-turn cost, payouts: the broker publishes no figure we could read
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 9ZA
- Min deposit, USD
- 10 groupZA
- Leverage
- 1000 group
- Rank in this country
- #27
- Round turn, USD
- 4ZA
- Min deposit, USD
- 50ZA
- Leverage
- 1000ZA
- Rank in this country
- #13
- Round turn, USD
- 6ZA
- Min deposit, USD
- 25ZA
- Leverage
- 500ZA
- Rank in this country
- #6
- Round turn, USD
- 7ZA
- Min deposit, USD
- 4ZA
- Leverage
- 400ZA
- Rank in this country
- #11
- Round turn, USD
- 6ZA
- Min deposit, USD
- 50 groupZA
- Leverage
- 500 group
- Rank in this country
- #4
- Round turn, USD
- 1ZA
- Min deposit, USD
- 0ZA
- Leverage
- 500ZA
- Rank in this country
- #38
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | Satrix |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 0 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | — |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 100 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | — |
| Track record | 10% | Years since the firm was founded, from its own filings | 100 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 15 |
— the broker does not publish this figure; it is not read as a zero and it is not scored.
FAQ
- Does Satrix accept residents of South Africa?
- Yes. FSCA-regulated domestic CIS manager Onboarding entity: Satrix Managers (RF) (Pty) Ltd (part of Sanlam Investment Group)
- Is Satrix licensed to serve clients in South Africa?
- FSCA-authorised FSP No. 15658; registered/approved Manager of Collective Investment Schemes under CISCA. Not a JSE trading member (fund/ETF manager). Checked on 11.07.2026.
- Which trading platforms does Satrix support?
- SatrixNOW, EasyEquities. Instruments: Index ETFs (JSE Top 40, S&P 500 feeder, MSCI World feeder, Shari'ah Top 40, etc.), unit trusts, offshore feeder funds, RA/retirement products
- How can I withdraw money from Satrix in South Africa?
- EFT, instant EFT, debit order
- What account types does Satrix offer?
- ZAR investment account, TFSA (tax-free), retirement annuity (RA), living annuity, offshore/feeder-fund exposure via ETFs (SatrixNOW platform)
- Does Satrix offer a swap-free (Islamic) account?
- Yes. Satrix offers a swap-free (Islamic) account to South Africa residents.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://satrix.co.za/
Not tax advice. Check with SARS.