We are very transparent about all the charges on Bamboo. We will always display the calculation of how much this fee comes to, for every transaction you are about to make. This is so that you can confirm before sending off your order.
We charge a 1.5% commission when you buy or sell stocks on the U.S. stock markets, with a minimum charge of $1 (This means that if 1.5% of your trade is less than $1, you will be charged $1).
You can hold stocks for as long as you like and you will not be charged for holding stocks or leaving funds in your Bamboo wallet.
There is a 30% WHT (Withholding Tax) on dividends only, which is a mandatory tax taken by the U.S. government for individuals buying stock outside of the U.S. This only applies to dividends and does not apply to returns made from selling stocks or from capital appreciation. Want to know what dividends are? Watch this video.
Here is a quick overview of all other charges you may come across, depending on your country:
Naira Card: The charge with the Naira card option is 1.4%. The charge is capped and will not exceed ₦2000.
Naira Bank Transfer: The Naira bank transfer option has a flat rate of ₦100 regardless of the amount being deposited.
USD Card: The charge with the USD card option is 2.9%.
There is a withdrawal fee of ₦45 to Naira bank accounts and $45 to USD bank accounts.
If you deposited from a Naira payment option, you can only withdraw to a Naira account. If you deposited from a USD payment option, you can only withdraw to a USD account. The minimum withdrawal amount to a USD account is $500.
GHS Card: The charge for card deposits is 1.95%.
Mobile Money: The charge for Mobile Money deposits is 1.5%.
Cedi withdrawals have a fee of GHS 6.
For USD withdrawals, all withdrawals below $8,000 have a flat fee of $45; withdrawals above $8,000 have a fee of 0.5% of the withdrawn amount, with a minimum fee of $45.
If you deposited from a Cedi payment option, you can only withdraw in Cedis using Mobile Money. If you deposited from a USD payment option, you can only withdraw to a USD account. The minimum withdrawal amount to a USD account is $500.
Other Brokerage Fees (for all countries)
Other brokerage fees (e.g. for DWAC Transfer, DTC Deliveries/ Receives etc.) may apply.
For more information, please feel free to check full details on our terms of service and disclosures on investbamboo.com/legal