Fees & Charges

By Mujahid

What fees does Signal charge?

• No fee to sign up, to deposit, or to receive winnings.
• No fee to withdraw to Busha. A withdrawal to a bank account has a ₦150 fee.
• A trading fee on an order that fills, worked out from the market and the price.

Every screen shows the fee before you confirm.

Is there a fee to sign up?

Creating an account is free, and so is browsing and following markets.

Is there a fee to deposit?

1. Signal charges nothing on a deposit by bank transfer or from Busha. Your own bank may charge you for sending a transfer.

Is there a fee to withdraw?

Withdrawing to Busha is free. A withdrawal to a bank account has a ₦150 fee, which comes out of the amount you withdraw, and the screen shows what you'll receive before you confirm.

How is the trading fee worked out?

It depends on the market's category, the share price and the number of shares:

fee = rate × ₦100 × shares × price × (1 − price)

Here the price is the share price as a fraction of ₦100, so ₦60 is 0.6. The rate is 4% in most categories, 5% for culture and Moonshot markets, and 10% for crypto markets. Each market shows its rate under Timeline and payout.

For example, 10 shares at ₦60 in a sports market cost 0.04 × 100 × 10 × 0.6 × 0.4 = ₦9.60 in fees. The fee is largest when a share costs ₦50 and gets smaller as the price nears ₦1 or ₦99, so a share bought at ₦90 carries less than half the fee of one bought at ₦50.

When is the trading fee charged?

Only when an order fills. You aren't charged for an order that never fills or that you cancel. The trade slip shows the fee as you type, the review shows it again before you submit, and your Portfolio history and Wallet show it on each trade afterwards.

Is there a fee on winnings?

A winning share pays the full ₦100.

Do fees change with how much I trade?

The rate belongs to the market, set through its category, so trading more doesn't change it.