Guide to the Account Opening Agreement (EGX)

Kazem Ramadan
Modified on: Tue, 29 Mar, 2022 at 2:06 PM


Purpose of the agreement (Explained)

This agreement is made between you and Thndr to protect us both in accordance with Egyptian law in general and Egypt’s capital markets law in specific.

Introduction to your account opening agreement articles (Explained)

The agreement starts by defining who you are, who Thndr is, and stating when it was drawn.

The agreement then states that you have requested the service of being able to trade in the stock market through Thndr.

Article 1 - Parts of the Agreement (Explained)

The agreement is divided into several articles that cover specific topics, and that the Preamble (Introduction) and the appendices that are attached to the agreement are part of it

Article 2 - Broker’s Representations (Explained)

This article covers all the services that Thndr will be obligated to provide for you. They mainly include:

  • Trading stocks according to your order instructions
  • Notifying you of the status of your orders
  • Keeping your documents confidential and data safe.

Article 3 - Client’s representations (Explained)

This article covers your obligation to Thndr. This mainly includes:

  • Giving order instructions to Thndr through the trade orders you place.
  • That you are committed to paying the value of your trade order transactions to Thndr and any other fees required (more details in article 5)
  • You will receive an electronic invoice from Thndr after each transaction as proof of execution.
  • That you must inform Thndr if any of your information changes (example: Address, phone number....) this is to protect us both.
  • Thay you are responsible for the accuracy and genuineness of the documents you submit to Thndr
  • That you will inform Thndr if you have any other nationalities.
  • That you will declare that you are the owner of your money and are not involved in any money laundering activities.

Article 4 - Method of Order Instructions (Explained)

Thndr will receive all your trading instructions electronically.

In the event of a malfunction of the electronic system you have the choice to use other methods like through the phone.

Article 5 - Commission and Fees (Explained)

Thndr charges 0% brokerage commission. However, you need to pay the associated governmental fees. These fees include EGX, MCDR, FRA, stamp duty, and risk insurance. Here is the breakdown:

(Note: These fees are not shown in the agreement because they are subject to change. However, we’ll make sure we notify you if they do)

In summary, you’ll pay approximately 0.13% of the transaction value as fees.

The custodian is the entity responsible for saving and protecting your stocks. They also collect any dividends you earn on your behalf. These dividends are then funded directly into your account. We've partnered with Ahli United Bank to provide you with this service and all the necessary paperwork will be done through us. Other custody fees include:

  • 0.01% of the market value of your held stocks as of 31/12 of every year
  • 0.05% of the value of dividends collected
  • 0.05% fees for transferring your existing shares, if necessary

Article 6 - Duration of the Agreement (Explained)

The agreement duration is a year and renews automatically unless one of the parties (you or Thndr) notifies the other.

Article 7 - Dissemination of Information and Advice (Explained)

Thndr is not allowed to give any investment advice. All information, tools and resources provided are for educational, awareness and reference only and do not constitute as an investment recommendation.

Article 8 - Confidentiality (Explained)

Thndr is committed to maintaining the confidentiality of any information disclosed by you to Thndr.

Article 9 - General Provisions (Explained)

These are general and standard conditions set for the contract between you and Thndr.

  • You are the owner of all the documents you provided to Thndr
  • The money you fund your Thndr account with is from a legitimate source
  • Thndr can record any calls that take place between you and Thndr
  • Thndr is not responsible should any of the orders you place through the Thndr app are cancelled by EGX or FRA
  • You authorize Thndr to buy and sell stocks on your behalf
  • You authorize Thndr to deal with third parties on your behalf
  • Thndr is able to modify this agreement and notify you via email or through the Thndr website

Article 10 - Notifications (Explained)

Thndr is obligated to notify you electronically of all your executed orders

Article 11 - Dispute Resolution (Explained)

We agree that in case of any dispute between us, it will be held through Commercial Arbitration

Article 12: Limitation of Liability and Liquidation Losses (Explained)

Thndr is not responsible for any failure to perform any of its obligations if they require any violation of any laws or regulations.

Thndr is not responsible for any failure to perform any of its obligations in the event of factors outside their control like, natural disasters or communication outages.

Article 13 - Appendices of the agreement (Explained)

These are an integral part of the agreement

  • Account Opening Form - As filled on the app
  • Margin Trading - The terms and conditions for borrowing money from Thndr to buy stocks
  • Same Day Trading - The terms and conditions for making same-day trades
  • Trading via Platforms - The terms and conditions for trading using the app

Guide to the Custodian Agreement

The custodian is the entity responsible for saving and protecting your stocks. They also collect any dividends you earn on your behalf. These dividends are then funded directly into your account. We've partnered with Ahli United Bank to provide you with this service and all the necessary paperwork will be done through us.

Article 1 (Explained)

  • Opening the account: You agree to open a custody account with Ahli United Bank and the bank will proceed with the process.
  • Account management: The bank will save all your purchased securities in your account at the Bank within the same day. All transactions in your account will be through your instructions.
  • Financial securities: The Bank will not register any security that is not backed by your instructions. Furthermore, the bank can’t use your securities except for your use.
  • Information sent to you: The Bank will inform you of any transaction on your account.

Bank fees:

  • Opening an account: Free.
  • Annual account statement: Free.
  • Requested account statements: EGP 10.
  • Security freeze request: EGP 10 per security.
  • Deposit fees: 0.05%, with a minimum of EGP 10.
  • Custody transfer: 0.05% of the security market value with a minimum of EGP 50.
  • Purchase and sale of stock: 0.01% of the transaction value.
  • Coupon collection: 0.05% with a minimum of EGP 5.
  • Annual custody fees: 0.01% of the value of the held securities as of 31/12 at the end of each year. The fees include MCDR fees.
  • The Bank may change any of the above fees but subject to notifying you
  • Account termination: Any party may terminate this agreement.

Article 2 (Explained)

General provisions:

  • You shall respect the laws and regulations of the capital markets law.
  • The purchase and sale of securities should be in accordance with the capital markets law.
  • You shall give your instructions directly to Thndr.
  • You may not request to unfreeze any held shares by Thndr unless you request Thndr to do so.

Method of order instructions:

  • The method of order instructions should be in accordance with the account opening agreement (electronically).
  • You will be notified after the completion of any transactions if you don’t object within 24 hrs then you accept them.

Reserves and guarantees:

  • Your account should have enough balance before executing an order.
  • The Bank is obligated to compensate you for any errors that occur.
  • The Bank to return to you any of your securities and amounts owned upon your request.
  • The Bank may not use the securities held as collateral except upon your request in writing to do so.
  • The Bank will keep any of your personal bank accounts, if applicable, separate from your custody account.

Article 3 (Explained)

In the case of a minor, the account shall be managed by a legal guardian.

Article 4 (Explained)

The Bank shall exert all its best efforts to carefully place your buy and sell orders.

Article 5 (Explained)

This agreement is in accordance with Egyptian law. Any dispute shall be held through the financial regulatory authority (FRA) and if escalated then it should be held by Cairo courts.


You authorize the Thndr to book your purchase orders with Misr for Clearing Depository and Registry (MCDR) so that you can sell upon your request.

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