Short answer
On the GSE through IC Securities, orders up to GHS 500 pay 2.50% in fees and larger ones less. Buying 20 shares at GHS 10.00 needs a 5.2% rise to break even; buying 2,000 at the same price needs 3.6%.
Fees on the GSE are a percentage of each trade, but not the same percentage for every trade. With IC Securities, the all-in rate falls as the order gets bigger: 2.50% up to GHS 500, then 2.25%, 2.00% and 1.75%.
That has a direct effect on how far a price has to rise before you stop losing money.
Same price, different sizes
Here's the break-even for buying shares at GHS 10.00 and later selling all of them, with fees on both sides:
| Shares bought | Trade value | Break-even price | Rise needed |
|---|---|---|---|
| 20 | GHS 200.00 | GHS 10.52 | 5.2% |
| 100 | GHS 1,000.00 | GHS 10.47 | 4.7% |
| 1,000 | GHS 10,000.00 | GHS 10.39 | 3.9% |
| 2,000 | GHS 20,000.00 | GHS 10.36 | 3.6% |
The share price is the same in every row. Only the size of the trade changes, and with it the fee rate on the buy and the sale.
A surprise at GHS 500
Because the lower rate applies to the whole order, a slightly bigger order can cost less in fees:
- Buying GHS 500.00 of shares is in the 2.50% tier: GHS 12.50 in charges.
- Buying GHS 501.00 is in the 2.25% tier: GHS 11.27 in charges.
One more cedi of shares, GHS 1.23 less in fees. The same jump happens at GHS 5,000 and GHS 10,000.
What this means
None of this says how much you should invest. It's simply worth knowing that on a small holding, fees take a bigger share, so the price has further to go. Breakeven shows the exact break-even for each holding, whatever its size, and the sell simulator shows which fee tier a sale would fall in.
Try your own numbers
The break-even calculator works this out for any number of shares and price.
Try it with your own numbers.
Same fee rules as the app, exact to the pesewa.
You pay, with fees
GHS 830.78
GHS 18.28 in fees (2.25% tier)
Break-even price
GHS 6.80
a 4.6% rise
20% profit needs
GHS 8.16
a 25.5% rise
Keep reading
All blogFees
One order or several? What the GSE fee tiers mean for a sale
The fee rate depends on the size of each order, so how you split a sale changes what you pay.
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Product
Introducing Breakeven
A calculator for GSE investors that shows the price you can sell at without losing money, after every fee.
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Explainers
What happens to your break-even when you buy more
Adding to a holding changes your average cost and your break-even. Here's how, with fees included.
, 1 min read