U-Trade, the listed online stockbroker, is to offer free online share trading in soon to be listed Internet company MoneyWeb Holdings Limited.
Registered clients of U-Trade will be able to buy and sell MoneyWeb shares online via U-Trade`s website, www.utrade.co.za, from MoneyWeb`s listing date on Thursday, 17 June 1999 until Friday, 25 June 1999 totally free of brokerage commissions.
"Clients will pay no basic charge and 0% brokerage during the free offer, which lasts seven days," said Joint MD Mark Fairclough.
The brokerage free offer is the first of its` kind ever offered on the Johannesburg Stock Exchange and is illustrative of U-Trade`s innovative approach to online stockbroking. U-Trade has already agitated traditional private client stockbrokers with their aggressive approach by slashing brokerage rates by more than half to 0.35%.
U-Trade has seen phenomenal growth in its` private client base since it first opened its` doors on 1 March 1999 and is attracting a large slice of the online broking industry with it`s advanced trading and portfolio tracking system.
U-Trade, after just three months, is already accountable for 0.33% of the total value of turnover on the JSE.
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