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Pricing

  • There are no hidden fees with Syfe. Here is a breakdown of Syfe's fees, FX fees and the regulatory fees applicable.

    • On the US market, brokerage fees of just US$1.49 per trade 
    • On the AUS market, 
      • For trades under A$20,000 - brokerage is a flat fee of A$4.99
      • - For trades over A$20,000 - brokerage is 0.025% of trade value

    FX fees: Syfe applies an extremely competitive 60 basis point fee when converting AU$ to US$ or US$ to AU$. Currency conversion also occurs instantaneously allowing you to deposit, trade, or withdraw as you need. Once you have converted a currency, your transaction history in the app will show the actual exchange rate.

    Regulatory fees: These are fees imposed on US stock trading by regulators, the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) which are levied on brokerage firms for engaging in stock trading.

    The SEC levies a US$8.00 fee for every US$1,000,000 of principal sold, rounded to the nearest cent.

    FINRA charges brokerage firms a small fee on sell orders, which is passed through to the SEC to support the costs of regulation and supervision. This is also known as the TAF, or Trading Activity Fee. For stocks and ETFs all sales are charged at a rate of US$0.000119 per share with a minimum charge of US$0.01 and a maximum charge of US$5.95.

    SEC & FINRA fees only occur on the sale of a security and are equal to:

    SEC Fee = total price of transaction * US$8.00 / US$1,000,000

    TAF = US$0.000119 per share for each sale of covered equity security with a maximum of US$5.95 per trade.

    Fees are rounded up to the nearest one cent.

    For example, if you sell 1 share of Apple for US$150, the fee would be :

    SEC fee: US$150 * US$8.00 / US$1,000,000 = US$0.0012 rounded up to minimum fee of US$0.01

    TAF fee: US$0.000119 * 1 share = US$0.000119 rounded up to minimum fee of US$0.01

    The total regulatory fees would be US$0.02.

    When applicable, the fees levied will be charged on sell orders and will be deducted from your buying power.

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  • For Syfe, you can view details of fees paid by you by clicking on Order History, and clicking into the order for which you want to view fee details. You can also view your fee breakdown in the daily confirmation and monthly statements. These can be accessed from your Syfe app.

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  • Yes, Syfe will provide you with a tax invoice for the GST charged on your ASX trades. The tax invoice will be made available in your Syfe account and can be downloaded for your records.

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  • As a Syfe user, you may be subject to other taxes or fees based on your individual circumstances, such as income tax. It is recommended that you consult a tax professional or seek guidance from the relevant authorities to determine your tax obligations.

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  • The GST is calculated as 10% of the brokerage fees charged for ASX trades. The brokerage fees are inclusive of GST.

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  • For ASX trades, GST is charged at a rate of 10% on fees for Australian residents. However, non-Australian residents are not charged GST for ASX trades.

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  • For a A$25,000 trade on the ASX with Syfe, you would pay a brokerage fee of A$6.25, which is calculated as 0.025% of the trade value.

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  • For a A$15,000 trade on the ASX with Syfe, you would pay a brokerage fee of A$4.99.

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  • US Stocks and ETFs

    As of 8th March 2023, Syfe charges a brokerage fee for trading US-listed shares and ETFs, which is US$1.49 per trade. 

    Australian market (ASX) 

    Syfe charges a brokerage fee for trading ASX-listed shares, which is A$4.99 per trade for a trade value below A$20,000. If the trade value exceeds A$20,000, a fee of 0.025% of the trade value is charged. However, there are no other costs associated with trading on the ASX with Syfe, such as market data fees and contract note fees.

    For Australian residents, a GST of 10% is included in the brokerage fee for ASX trades, while no GST is charged for non-Australian residents. It's important to note that for US stocks and ETFs as well as crypto, no GST is charged.

    Cryptocurrency

    For trading Cryptocurrency, Syfe charges a low and transparent 1% fee for any cryptocurrency buys or sells allowing you to get the most value out of your investments.

     

     

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