Pricing
Every fee, in one place
No account fee, no custody fee and no charge to withdraw. You pay commission and market charges when you trade, and the order ticket shows them before you confirm.
Fees
Price list
| Charge | Rate | Notes |
|---|---|---|
| Commission, trades up to ₦5,000,000 | 1.00% of the trade value | Minimum ₦500 |
| Commission, above ₦5,000,000 | 0.75% | |
| Exchange and depository fees | 0.30% | Paid to market bodies |
| Regulator fee | 0.30% | On purchases and sales |
| VAT | 7.5% of commission | |
| Managed portfolio | 1.5% a year | 1% above ₦50,000,000 |
| Account and custody | Free | |
| Withdrawals to your bank | Free | Two working days |
| Paper statements | ₦1,500 each | Email statements free |
Example rates for this demo.
Calculator
Work out a trade
The calculator uses the example rates above. A purchase of ₦1,000,000 costs about ₦16,750 in fees and charges, about 1.7 percent. A round trip, buying and later selling, costs roughly twice that, so it pays to trade less often and hold for longer.
Comparison
Compared with a typical broker
| Summit (example) | Typical (example) | |
|---|---|---|
| Account fee | None | ₦5,000 a year |
| Custody | Free | 0.1% a year |
| Withdrawal | Free | ₦500 each |
| Named adviser | Yes | Sometimes |
When you pay
Fee timeline for one trade
Order
You see the full cost
The order ticket shows commission, fees and VAT before you confirm.
Trade day
Contract note
The note itemises every charge, by 4pm on the trade day.
T+2
Settlement
Cash and shares settle; fees are taken from the trade value, nothing extra.
Questions
Pricing questions
Why are there market charges?
Exchanges, depositories and regulators charge every broker on every trade. We pass them on at cost and show them separately.
Do you earn anything else?
We earn interest on client cash waiting to be invested at a low rate and tell you exactly how much in your annual statement.