Kuda FX's Role
Opens client Investec Prime Money Call Account.
Facilitates South African SARS Approvals or SARB application for non-residents.
Facilitates and executes all FICA compliance checks.
Professionally executes client's Foreign Exchange trades.
Issues Foreign Exchange trade confirmations.
Issues proof of payment once funds have been remitted offshore.
Complies with BOP reporting to SARB.
Broker/Client's Role
Submits details via the Kuda FX Online Onboarding form.
Transfer Rands to Investec Prime Money Call Account.
Provides complete Foreign Exchange destination details.
Issues trading instruction to Kuda FX dealing desk.
Broker/Client
Contact Kuda FX
By phone, email or via our website.
Create a Kuda FX online account
Complete our fully automated online onboarding process (Complete SARS Approval for International Transfers application form if applicable)
Transfers Rands into Investec Prime Money Call Account
Your client transfers the Rands intended for trading into the account mentioned in step 3.
Client Instruction to Trade
Your client (or you if authorised) instructs us to trade.
Confirmation of Offshore Destination
You provide us with details of the bank account or fund in which your client’s FX will be credited.
Kuda FX
We open your Investec Prime Money Call Account
We open an interest-bearing account in your client’s name with no admin or account maintenance fees. This money can only be accessed with your client’s authorisation.
SARS Tax Approval for International Transfers (if applicable)
This applies if your client’s trades volume exceeds your single discretionary allowance of R1M per calendar year.
Sight of Funds cConfirmation
When we have sight of funds and the relevant compliant SARS Approval for International Transfers (if applicable) our dealing desk will get in touch to discuss rates.
Kuda FX Executes Trade
Confirmation of the trade is sent to your client (or you if authorised), on the deal date. Additionally, we send you the proof of payment once funds are transferred to your client’s offshore destination.
Our Esteemed Partners
Trusted & Secure
Kuda FX is a registered Financial Services Provider FSP 46310. Kuda FX subscribes to the South African Association of Treasury Advisors' (SAATA) FX Global Code. Investec is our authorised dealer.
Evolution & Innovation
We have gone beyond our local licensing and obtained globally recognized certification from the International Organization for Standardization (ISO). We have been awarded the ISO certification 27001 and ISO 9001.