Overview

When you place an order on Thndr, fees come from two sources: Thndr's brokerage fee, and third-party fees set by government regulators and market infrastructure bodies. This article explains exactly what you're charged and why, broken down by market.

Note: Some fees may be waived depending on your subscription plan. Third-party fees are set by regulators and are subject to change without prior notice.

Egypt

Activities in the Egypt market are conducted through Thndr Securities Brokerage, licensed by the Financial Regulatory Authority (FRA) of Egypt (licence no. 804).

Thndr brokerage fees

Fee	Amount	Basis
Fixed order fee	2 EGP	Per order
Variable order fee	0.1% of executed order value	Per order

Tip: Thndr Trader subscribers get 50 waived commission orders per month. Learn more about Thndr Trader

Example: You place a buy order worth 5,000 EGP.

Fixed fee: 2 EGP
Variable fee: 5 EGP (0.1% × 5,000)
Total brokerage: 7 EGP

Third-party fees

These fees are collected by government bodies and market infrastructure entities. Thndr passes them through at cost.

Entity	Rate	Basis	Min	Max
EGX	0.01%	Per order	0 EGP	5,000 EGP
MCDR	0.01%	Per order	0 EGP	5,000 EGP
FRA	0.005%	Per transaction	1 EGP	250 EGP
Risk insurance	0.005%	Per order	0 EGP	5,000 EGP

Note: An order is what you submit in the app. A transaction is an executed order — or part of one. A single order can result in multiple transactions if it fills across different counterparties. The FRA fee applies per transaction, not per order — keep this in mind if your order fills in multiple trades.

What each entity is

EGX (Egyptian Exchange) — the regulated stock exchange where trades are executed
MCDR (Misr for Central Clearing, Depository and Registry) — the central depository that records share ownership and settles trades
FRA (Financial Regulatory Authority) — the government body that regulates Egypt's securities market.
Risk insurance — a government-mandated investor protection fund

Example: You place a buy order worth 5,000 EGP that executes as a single transaction:

EGX fee: 0.50 EGP (0.01%)
MCDR fee: 0.50 EGP (0.01%)
FRA fee: 1 EGP (minimum applies — 0.005% × 5,000 = 0.25 EGP, below the 1 EGP minimum)
Risk insurance: 0.25 EGP (0.005%)
Total third-party: 2.25 EGP
Combined with brokerage (7 EGP): total fees on this order = 9.25 EGP

Mutual funds

Thndr brokerage fees apply to mutual fund orders at the same rate as stocks — 2 EGP fixed fee plus 0.1% of the executed order value. There are no third-party fees on mutual fund orders.

Some funds charge their own subscription or redemption fees, which are set and managed by the fund administrator. These vary by fund. You can find the specific fees for each fund on its fund page in the app or in the fund's factsheet.

MCDR annual custody fee

In addition to the per-transaction fees above, MCDR charges an annual custody fee based on the value of your stock portfolio.

Fee	Rate	Basis
MCDR annual custody fee	0.01%	Market value of your stock portfolio on December 31st

The fee is calculated on the total market value of your stock holdings as of December 31st each year and is typically deducted from your Thndr Wallet in January.

Example: If your portfolio is worth 75,000 EGP on December 31st, your annual custody fee will be 7.50 EGP (0.01% × 75,000).

Note: This fee is charged by MCDR, not by Thndr. It applies to stock holdings only — mutual funds are not included.

US Market

Activities in the US market are conducted through Thndr Financial Ltd, licensed by the Financial Services Regulatory Authority (FSRA) of ADGM. US trades are executed through Alpaca, Thndr's brokerage partner for the US market.

Fees

Fee	Amount	Basis
Fixed order fee	$0.20	Per order
Variable order fee	0.1% of order value	Per order
Per share fee	$0.005	Per share traded
Third-party fees	$0.000199	Per share traded

Note: Third-party fees include charges from Alpaca and US regulatory bodies, and are subject to change without prior notice.

UAE Market

Activities in the UAE market are also conducted through Thndr Financial Ltd, licensed by the FSRA of ADGM.

Fees

Fee	Amount	Basis
Fixed order fee	0.49 AED	Per order
Variable order fee	0.1% of order value	Per order
Third-party fees	0.03125% of order value	Per order
VAT	0.00125% of order value	Per order

Note: VAT applies in accordance with UAE tax regulations. Third-party fees are subject to change without prior notice.

FAQs

Are fees charged on both buy and sell orders?

Yes — brokerage and third-party fees apply to both buy and sell orders.

Can any fees be waived?

Thndr's brokerage fees may be waived or reduced depending on your subscription plan. Third-party government fees cannot be waived — they are set by regulators.

What's the difference between an order and a transaction?

An order is what you submit in the app. A transaction is each individual execution that fills it. Most fees are charged once per order — the FRA fee in Egypt is the exception, charged per transaction.

Which entity handles my trades?

Egypt trades are executed through Thndr Securities Brokerage (FRA licence no. 804). US and UAE trades are executed through Thndr Financial Ltd (FSRA of ADGM) — with US trades routed through Alpaca as the executing broker.