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Sanlam iTrade & Moneyweb’s R1m Challenge

Trade on your own without being alone.

#iTradeR1m

This video explains how virtual trading works: Click Here.

Would you like to know what it feels like to trade on the JSE, but you’re scared to take the risk? Introducing the “R1m Challenge” brought to you by Sanlam iTrade, in partnership with Moneyweb. 

With the R1m Challenge you will be given R1 million in virtual money to invest in JSE shares on our live platform. This unique opportunity will allow you to trade online, risk-free and stand the chance to win R100 000 in cash.

 

The benefits:

  • Become a successful investor or trader on the JSE
  • Learn skills and gain experience
  • Learn more about investing on the JSE without the risk of losing real money
  • Gain access to iTrade educational courses, research and tools for insight
  • Watch this page for insights and market commentaries by Moneyweb and iTrade
  • Gain experience and have the opportunity to put what you learn into practice
  • Experience the JSE and how it reacts to current events first-hand


All this for free. Sounds good? There’s more.

We will link existing iTrade clients with novice traders via e-mail to provide help and guidance or just to be a soundboard for your ideas.

 

WINNERS’ PRIZES


First prize of R100 000 for the Top iTrader

PLUS free iTradePro membership for a year

Linked iTrade Client of Winner wins R10,000 

The Top 100 Traders win free iTrade membership for a year

See the Terms and Conditions for all the rules

 

Ready to sign up? Register NOW to practice and familiarise yourself with the platform before the official start date of Monday 22 June.
Remember: you have nothing to lose. 

If you experience any difficulties in registering or logging on, please send an email to it@sanlamitrade.co.za with your contact details and we will gladly assist you.

IMPORTANT NOTES:
It takes up to a full working day to create your trading account on Iress. You can log in on iTrade immediately, but NOT the Iress trading website. Wait a few hours at least.
Do not add @iTradeR1m to your username when you log in on the iTrade website, only on Iress.

 

Main features of the challenge:

  • The challenge will commence Monday 22 June and end on Friday August 14 2015.
  • Each entrant will receive R1 million virtual money to trade with on the JSE using the iTrade live Virtual Trade Simulator (VTS).
  • The challenge is free and open to South Africans and Namibians over the age of 18 years on 1 June 2015.
  • No professional investors and traders will be allowed. Refer to the Terms and Conditions.
  • One registration per person only. Valid ID and e-mail address required.
  • Trade in any of the Top 100 shares on the JSE as well as ETFs. No penny stocks included. Refer to the Terms and Conditions for the trading rules.
  • Make use of the iTrade’s comprehensive share data, charting, research, tools and learning centre, click here: Products & Services.
  • To alleviate congestion when the challenge commences, no new registrations will be allowed only during the first two days of the challenge.
  • The VTS platform will be accessible from June 1 2015. For an added advantage, register early and you can practice before the challenge starts.


Register Here

Connect with Sanlam iTrade on social media to keep updated:

Live prices kindly sponsored by the:

jse  

Sanlam iTrade is part of Sanlam Private Wealth (SPW). SPW has been ranked as SA’s Top Wealth Manager for the last two years.

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COMMENTS   90

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Good day, some one please assist.
I have tried registering , IT doesn’t move passed the username and password section

I am having the same issue – both on phone and laptop.

Please send an email with your contact details to it@sanlamitrade.co.za if you have problems registering. We will gladly assist.

I would definitely have registered, but I am not comfortable giving out my ID number via an unsecured web link.

Please refresh the registration page and try again. The web page is now secure with https. Thanks for alerting us.

Regards,
The Sanlam iTrade Team.

How do i log onto VTS Platform ?

Easiest way to log in to VTS is to log in on http://www.sanlamitrade.co.za. Under “Trading & Portfolio” click on “Log in to trading”. If you want to log in directly on the VTS, go to login.iress.co.za (no www. in front), BUT here you must add @iTradeR1m to your username. Same password.

I cannot access the IRESS site with username and password. Yes, I did add the “@itrader1m” after username. It states that my username and password combination is incorrect. When I log on using the link via Sanlam iTrade, it says: “This page has a redirect loop”. I can log on to Sanlam iTrade without a problem.

Hi JayFly. When did you register? On completion of registration we clearly state: “You can log in to the Iress virtual trading website from here, but please give us at least 24 hours to create your virtual trading account.”

Thanks for the quick response. I registered yesterday around 16h00 so I will wait until then. Sorry, I thought that was just for allocation of virtual funds and not to log in to the site. Thanks!

I am unable to login, it says that I don’t have access. Although I am able to log into iTrade. Have emailed support but have not had any luck yet. Could anyone direct me as to what I need to do to get this going.

Hi. When did you register? On completion of registration we clearly state: “You can log in to the Iress virtual trading website from here, but please give us at least 24 hours to create your virtual trading account.” It should not take all that long, but it will take a few hours.

It has been resolved and I am able to log in now

I registered how do I now start practicing, where do you log in?

Eish, it was fully explained at the end of your registration. Please read carefully:

You can now log in immediately on the iTrade home page. Here you will find daily market commentaries, research, comprehensive data on every share and price charts with technical analysis tools to help you make investment decisions. Virtual trading will take place on the Iress website. You can log in to the Iress virtual trading website from here, but please give us at least 24 hours to create your virtual trading account.

You can also log in directly to the Iress virtual trading website without logging in to the iTrade website after your account has been created, min 24 hours. Save this address in your favourites login.iress.co.za. When logging in directly please remember to add @itrader1m to your user name as in: Amper18@iTradeR1m. Your password is the one you have chosen during registration.

Enjoy!

where do you see the leader board?

The Leaderboard will be up on Monday. It will be on this page as well as on the “Log in to Trading” page when you are logged in on http://www.sanlamitrade.co.za. It will show the Top 10 plus your own position in the competition.

I have registerd 3 days ago but iam still unable to login on iress acc. But on itrade i have loged in so many times. When i login on iress account it keeps on saying “the user have no available resources ” till now.

and more from the peanut gallery..

1. If you follow the instructions given, it works, just wait for the account to be loaded – as the itrade said its normally a day to process

2. HEADS UP PEOPLE – the whole trade universe is limited to the top 100 shares and ETFS, that is Top 40 + Mid Caps(60 Stocks) + Satrix/dbx/newfunds etfs are more liquid – its in the T’s&C’s but I am doing a public service as no one else will bother to read it.. (fyi itrade – the average joe thinks everything is a penny stock with gearing)

3. Also if you want to see/make a magical watchlist click the drop down arrow thingy on your current box in the VTS(aghem-on the screen)- choose quote – click the evil eye in the bar at top of the box(portside of the big green buy button) et voila.. more useless info – click the blockies cell next to the share code(to the left ok) to bring up fascinating options

4. This one is for Bob the Builder at itrade.. Please can you pop onto the Security Info whatsamijig for a sec. Have a peek at the Market Cap piddle.. if PSG(for e.g.) is worth $42BILLION(bullish aren’t we :/) then I am off to buy a small country with low hanging fruit..

Happy Hunting..

That is all..

Thanks for your witty and helpful explanation Storm_Ace.

Bob the Builder at Iress, not iTrade, has confirmed the $ sign is wrong and thanks you for bringing it to their attention. It will be fixed.

When will the leader-board be available?

The Leaderboard of the #iTradeR1m Challenge will only be available on Wednesday. Our IT guys are working on it. We apologise for keeping you in suspense. It is definitely not intentional.

The Leaderboard of the #iTradeR1m Challenge will only be available on Wednesday. Our IT guys are working on it. We apologise for keeping you in suspense. It is definitely not intentional.

Ftse.com said in its quarterly review that on Monday June 22nd there will be changes to the companies included in the MidCap index.

Harmony and ArcelorMittal will be removed from the MidCap index.

Zeder and Vukile will be added to the MidCap index and removed from the SmallCap index.

Will anyone be disqualified for trading in Harmony or ArcelorMittal before 22 June?

Because we are only allowed to trade companies in the Top40 & Midcap & ETFs, and those 2 companies will not be part of the Midcap index at the end of the competition.

I suggest Sanlam automatically sells everyone’s shares in Harmony and ArcelorMittal at the closing price for Friday 19 June.

References:
http://www.ftse.com/products/index-notices/home/getnotice/?id=1357962
http://www.ftse.com/products/index-notices/home/GetAttachment?id=55b6f9a3-ffb3-4f8a-a36b-dcaf1b79755a&title=FTSE_JSE_June15_Review.xls

Hi Reader.

We will implement the changes to the Index, but you will not be disqualified if you hold shares like Harmony and ACL after the date. The system will allow you to sell the shares whenever you want, but nobody will be allowed to buy new shares in them. Thanks for your question.

Unfortunately our IT guys were inundated with technical queries from the more than 5,000 iTraders in the R1m Challenge. We hope to have the leaderboard by tomorrow. Please bear with us.

1. So with the competition restarting on Monday, when will the reset occur?
2. Will we be able to issue orders only from Monday morning and if so from what time?

We will reset all virtual portfolios as soon as possible after 5 pm on Friday, so you will be able to enter orders with your new R1m over the weekend.

Iress confirmed that all accounts will be reset on Saturday with a clean R1m. You will be able to enter orders on Sunday 21 June. Again we apologize and thank everybody for their understanding and appreciation of this free opportunity.

Regards.

I have just tried logging on and the balance is still at R0. Is there any indication when the balance will reflect as we are unable to issue orders?

Hi all, please advise

My virtual r1m balance was reset to 0?

We apologise for the zero balance. We are also disappointed in our outsourced service provider, iRess. We will try to get them to fix it a s a p.

I have checked now and it is still reflecting 0 balance. I hope that they will have it sorted out before the markets open…

The R1m virtual balance has been reset. We aplogise for the mistake by Iress who are responsible for the trading platform. At least these problems do not occur on our real trading platform.

Please can you help? When I logged into IRESS Investor I received the following message –
All your licenses are currently in use, please select one of following sessions to log out to release your license
6/22/2015 2:40:19PM: IRESS Investor

When I choose Log Out and Continue I receive a blank screen with the following in the address –
https://investor1.iress.co.za/v2/?channelUnlockKey=1566211909

You probably closed your session without logging out or you might have another login on Iress open like our clients might have. Make sure you logged out of all Iress logins and try again. If it persists please email your contact details to it@sanlamitrade.co.za for assistance.

A pity resetting my iTrade acc after buying 114000 Zeder at R 8.62 . Now starting to move.

Dear Observer. You could have bought it this morning again at 8.66, only R4,560 difference on R1m, pretty small. Good choice. It went up to R8.83, but slipped back to R8.70 at the close.

Dear Sanlam iTrade
Is Zeder tradeable for the itrader1m competition?

The Leaderboard is now available on the “Log in to trading” page after you logged in on http://www.sanlamitrade.co.za. Well done Sandesh with R27,000 profit on the first day.

Unable to login again this morning. Hope they can sort it out quickly.

Ignore this I managed to fix it, was on my end.

It seems to be intermittent and others are also experiencing issues logging on to IRess, is there anything that can be done?

Do not have access to my portfolio this morning…..”you do not have access to any IOS+ account”? Please advise!

Do not have access to my portfolio this morning…..”you do not have access to any IOS+ account”? Please advise

My Total Port Folio for today is R 1,016 530.10 my profit was R 21,931.00.
How is it possible that I am 18 on the leader board.
My user name is “Tjoppie”
Please let me if I am still in the game.

Tjoppie

My username is “Tjoppie”
Before today’s trading is starting! I just want know how can it be that I am number 18 on the leader board and not number 3
Tjoppie

I too have noticed a discrepency among others, who are ranked higher but have a loss compared to others who have gained. Does not add up?

I could be waaaay off here BUT my opinion is that the competition rules give us a clue why you are only 18th. It says at the end of the comp the “cash” value of your portfolio determines the winner.

Sooo if you have holdings in your portfolio that are valued higher now at marked to market and blah blah fishpaste to the whole valuation, the new m2m has no bearing on your actual competition value, until you sell it mate.

For e.g. if there is no liquidity on the last day and no shares trade in your holding of Zimcorp, even if you made hyper-inflationary dictatorship growth of 10000% profit, it aint profit till you can get out at the end, in order to win.

OR maybe I just need more coffee

That is all..

To all:

Iress informed us that they are experiencing intermittent connectivity issues. They are working to fix it and it should not take more than 30 minutes. We apologize for the inconvenience. We will keep you updated on the Log into Trading page on http://www.sanlamitrade.co.za.

We will check the issues around the leaderboard. It is much quicker to send us an email to it@sanlamitrade.co.za if you experience any technical difficulty. Please email us your username and contact details.

Good day
Just want to find out if the connectivity error is fixed due I still cant go in to my profile. nmvanzyl

Iress resolved the intermittent connectivity issues. It affected all their clients, not only Sanlam. We apologise. It still looks a bit slow, but it works from our side. We notified them that some clients still have problems and they are working on it. #iTradeR1m

Still cant access my account on iress if you can please look in to it
nmvanzyl@itrader1m

posted this on the wrong forum yday.. trying again..

Greetings fellow speculators and daredevils,

I trust that Bob the Builder has cleared the decks and the little tug is back on track.. I must mention that it was extremely heartening when Gerhard Lampen(Head: Online Trading at SPW) put his name to the apology/details without passing the buck, especially give the drama since.. Dead good backbone mate!

I do have a couple inuendo laden questions as a spread on the events of june nineteen oh six (see what i did there?):
1. When you say no trading in auction, when precisely does the auction period begin and how long does it last on iress? exactly to the market or wot(gives times pls)? cos I think our ‘live’ prices are not the same “live” as the “”live”” market feed. C’est la vie if you got all of that..

2. Will the system warn us of the auction period(cos we saffa’s cant read a clock) so as not to run ashore on hidden reefs once more(and enjoy a reset)?

3. Linked to 2 is – We are seemingly now not allowed to set limit trades till filled or expiry? or am i just clicking skeef again?.. ergo in auction our trades should go into a holding basket not ‘at risk’, “till filled” and till the market is out of auction and/or live again? ( of course bar hackers, ufo’s, terrorist or{and?} US interest)

4. I have a couple more enticing(read not essential but oh so good) system doozies to pass on.. sadly(for my vast audience) i believe that #Moneyweb will start charging me serious server rent, if I post my lengthy soliloquy to all that is IRESS here.. (fine i’ll bit.ly it once done)

Thus to whom(who?) may I email this exciting bit of literature, i have devoted too many eishkom hours to and continue to add too(those too), as or when IRESS excites me yet again..

Good luck picking a top chaps

That is all..

Hi Storm_Ace.

Thanks for the compliment. Most understand and appreciate that it is a free service, although we appreciate that your time is not free. There are those that get so rude you would think they pay thousands for the service and lost real money with the reset. That is why I really appreciate your comment.

1. The opening auction runs from 8:30 to 9 am and the closing from 16:50 to 17:00. There can also be intra-day auctions on specific shares if it moves more than 3% in one trade. The live feed is as live as the real market.

2. You don’t have to worry about transgressing a rule here, it is our responsibility to prevent it. If it does happen we will just reverse the trade. We can’t prevent intra-day auction trading, but we will reverse trades if an order trades at a price away from the real price. During an auction no trades take place and traders jostle around. You can easily find bids 10% higher than the last price and asks 10% lower. The traders try to influence others, but sometimes pull the bid or ask just before the end of the auction. The JSE computer makes up a price at the end of the auction based on the bids and asks then. All bids and asks at that price or better then trades. Complicated.

3. LoL. We are just testing the Good Till Cancelled orders to make sure we don’t get the problem again that caused the reset. We will make it live in a day or two.

4. We are very disappointed in the Iress virtual trade simulator performance. We tested it thoroughly and last week’s problems did not occur. I must say they worked very hard to fix it and are still trying their best. Fortunately these problems only occur in the virtual world. Our real trading experience on iTrade is very reliable. This morning’s connectivity issues that affect our real trading clients as well is an exception. We have a manual process to enter their orders, but cannot do it for virtual unfortunately.

Eish, I can only hope it gets better from here. This is number the third problem.

Regards.

Gerhard Lampen

Succinct reply, you must be a trader… I will try to emulate you and earn some respect back..

1. Thanks for the list, I was just confirming what is known. Obviously the intra-day auction at futures closeout last week had a part to play in the shenitrades. Obviously if the dynamic breakers tumble intraday it will be another auction and static(ya well) is the end of the world probably.. As to the live, lets hope so or we could have more grey hairs than none.

2. Again I am aware of the auction crosses or CPX in this case.. no stress. As long as it closely emulates the real thing and ignores those OP trades too.

3. Hurry up!

4. Thank a higher being(pc and all that) no real money goes into it. I dare say testing is no sub for real world, but at least they react quickly, like this morning.

See it was quick.

There’s nothing more elusive than an obvious fact..

That is all..

Hello Gerhard
I have a question…..if I sell share X will the funds be available immediately or must you wait for 5 days (unsettled balance) to clear?

Thank you.

Hi Storm_Ace. I would like to read your literature on “enticing system doozies” please. Do you have a link or must i provide my email on this open forum?

finally! an intelligent adoring public!!

I shall copy the doc(as it is right now) to google docs a bit later today and will share the link to you fellow technocrats on here..

Just to alay any amorous fans.. it is not a tell all.. but a working doc on the profound magical qualities of the IRESS system, which thumbs crossed will score me a consulting fee when they are the victim of a LBO(google it)..

That is all..

Hi Storm_Ace. Still waiting for that promised link.

Hi guys, I’m not sure if you are still having login issues but I can’t seem to login as I get an error saying, ‘The user name or password provided is incorrect.’, Please assist if this is just on my account. I did make sure all login details are correct and also a friend who’s also in the competition has been able to login.

Forwarded to you a minute ago. Thanks.

Iress resolved the intermittent connectivity issues. It affected all their clients, not only Sanlam. We apologise. It still looks a bit slow, but it works from our side. We notified them that some clients still have problems and they are working on it. #iTradeR1m

Hi Oracle1. If you sell shares the money is available immediately to buy because the buy side also settles on T+5 in real trading. In real trading you can only withdraw your funds after 5 working days, but in virtual trading it does not matter because there are no withdrawals.

Iress identified that some #iTradeR1m iTraders tried to log in too many times this morning with the connectivity issues they had and got blocked, not the iTrader’s fault. Iress is unblocking everybody now, but it is a manual process. Please try again in 30 minutes. Apologies again.

Iress notified that those blocked in #iTradeR1m now unblocked. Please try to login again. Email it@sanlamitrade.co.za if not working. Apology again.

Good day
I have a problem where I have put in a sell order, and still after the share price is above my limit I have set the shares still isn’t sold and with me.

I have chosen not to email it@sanlamitrade.co.za, because a public comment can be more helpful for everyone else in the competition.

About the leader board on Tuesday 23 June:

In 1st & 2nd places, TheKid & LundelB made over 37% & 26% profit in 2days.

That is NOT possible!!! Please investigate TheKid and LundelB!

They must have cheated in some way, or there is a mistake somewhere.

My guess is that their buy and sell prices were wrong or incorrectly matched.

The people in 3rd and 4th place made about 8% profit in 2 days, which is possible.

I checked the closing prices of all the Top40 shares, MidCap shares and ETFs, and none increased by more than 11% in total on Monday & Tuesday. Then how did TheKid make over 37% profit in 2 days?

On the iress virtual trading website, when you click on the list called “Exchange Traded Funds” you can see 57 securities.
I assume we are allowed to trade any security in that list.
6 securities in that list of ETFs display “Invalid Security” in their description.
22 securities in that list of ETFs(funds) also appear in the list of ETNs(notes).
Not all of the securities in the list of “Exchange Traded Funds” have the word ETN or ETF in their description, so it is difficult to know which ones are ETNs or ETFs.
I don’t think anyone should be allowed to trade ETNs(notes) e.g. Oil, corn, wheat, silver, etc, because of issues with liquidity and bid/ask spreads.

Hi Reader.

Iress did indeed discover that their cash balances are wrong. Their actual profits were closer to 6% and 7%, but the wrong cash balance was used. This is now corrected and a new Leaderboard will be published. Please be careful accusing anyone for cheating. Nobody in this competition has cheated. The problems are all caused by the Iress virtual platform. Fortunately the real trading platform of Iress is very reliable. These are all virtual issues because no actual trades are taking place, it is trying to mimick real trading as close as possible.

We will investigate the ETF list, but nobody will be disqualified if traded from the ETF watchlist. Maybe you can email us the ETNs you found in the ETF list or you can publish it here if you want then. The fact that some ETFs and ETNs have the same name is perfectly normal. As you probably know the difference is that for an ETF the physical underlying shares or commodities are held by the issuer. For an ETN the issuer can use derivatives, so you have to trust the issuer’s balance sheet, which is not a problem with the big Banks.

Actually there is no problem with liquidity in ETFs as the issuer must make bid and ask spreads and guarantee liquidity of any size. The bid/ask spreads make them very unattractive for this competition though as they are quite wide. If you have to buy at the ask and sell at the bid, the big spread costs you. They also move a lot less than the underlying assets. I very much doubt you will see anybody trading ETFs in the leaderboard.

Hi there. Please advise – where do we find the Leaderboard?

The Leaderboard is being updated after we found incorrect cash balances that inflated yesterday’s portfolios in a few isolated cases. Iress is fixing them. The updated leaderboard will up at around 7pm tonight on the Log into Trading page on http://www.SanlamiTrade.co.za. We will also put it on this page in a day or two.

hi, just to clarify.
transaction fees 0.05
i dont see transaction fees when doing transactions.

if i buy a share for 100 the transaction cost is 0.5
or for 200 000 = 10 000

this is when you sell aswell

You can see the commission costs in your Order Pad, just scroll to the far right. It is 0.5% for Buy and Sell. For R200,000 it will be R1,000.

sorry man saw now 0.05%

i mean 0.5%

Looks like @iress_africa is still wrestling with cash balances that are wrong. Will let #iTradeR1m know when the Leaderboard is up. Apology again.

closed profit, is after tranaction costs? or before

Good day. I am having problems with the R1m trading site. It sometimes does not open properly, sometimes I can see price changes under quotes while nothing is happening in my holdings section. Hope you do not use this site for live trading. Could anybody please assist as it is frustrating to log on and off every 5 min.

Hi Goldpot. Please email it@sanlamitrade to assist you. No, these problems are unique to the VTS as it tries mimick real trading. Our real trading platform is very stable and reliable.

I bought GRT yesterday and submitted an order to sell it at 2645. This did not happened, although the closing price is 2646. All my gains is wiped today.. did I do something wrong? Thanks for a great way to learn!

Thanks for the compliment Mike. Yes, if you check the T & C you will see tha you can only sell if there is a bid at that price between 9 and 16:50. You don’t trade at the last price.

Hi i bought old mutual stock yesterday (2015/07/23) and i had them in my holdings now they are not showing in my holdings on 2015/07/24

Hi banks. It might be that your order never matched because your price was too low. Go to your Order Pad, select “Last 3 days” and check if it matched. Email it@SanlamiTrade with a screenshot and your details.

#iTradeR1m Challenge: Special (Bonus) dividend declared by Brait. Rule 19: Holders of Brait (BAT) shares at close on 31/7 will receive credit of 77.12 cents per share on 11/8. This only applies to special dividends. Normal dividends are not credited, refer to Rule 19 in the Terms & Conditions.

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