Transparency is our moto at Pelagio. We will often show how your fees are calculated, for every transaction to be made in order to comfirm your trade.
The charge with the Naira card option is 1.4%. The charge is capped and will not exceed ₦2000.
Naira Mobile Bank Transfer
The Naira mobile bank transfer option has a flat rate of ₦150 regardless of the amount being deposited.
The charge with the USD card option is 2.9%.
When using the Barter option, you will be charged a 1.4% fee on the amount you deposit. The charge is capped and will not exceed ₦2000.
Naira Internet Bank Transfer
The charge with the Naira internet bank transfer option is 1.4%. The charge is capped and will not exceed ₦2000.
There is an additional fee of 0.1% on instant deposits, with a minimum fee of $1 and a maximum fee of $10. This means that if 0.1% of the amount you are depositing is more than $10, the extra fee will be $10. However, if 0.1% of the amount you are depositing is less than $1, the extra fee will be $1. The instant deposit fee is an additional fee to the already existing deposit fee for each payment method above. E.g. the Naira bank transfer fee is ₦150. If your instant deposit fee is $1 at an exchange rate of ₦480 for example, and you choose the Naira bank transfer option, you will pay a total deposit fee of ₦630.
We charge a 1.5% commission when you buy and sell stocks on the U.S. stock markets. You can hold stocks for as long as you like and you will not be charged for holding stocks or leaving funds in your Pelagio wallet.
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. There is a withdrawal fee of ₦45 to Naira bank accounts and $45 to USD bank accounts.
There is a 30% WHT (Withholding Tax) on dividends, which is a mandatory tax taken by the U.S. government for individuals buying stock outside of the U.S.