What are the fees to buy stocks in Morocco?

Stock trading fees on the Casablanca Bourse include a broker commission (usually 0.6%), a settlement fee, a market tax, and a 10% VAT on the total fees.

What is the minimum fee rule?

Most Moroccan brokers charge a minimum fee per transaction, usually between 20 MAD and 50 MAD. If your calculated percentage fee is lower than the minimum, you will be charged the minimum fee instead.

Casablanca Bourse Fee Calculator

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Understanding Moroccan Stock Fees

1. Broker Commission (Commission de courtage)

This is the fee charged by your bank or broker. For retail investors, it's typically around 0.6% of the gross transaction value. However, watch out for the Minimum Fee (often 25-50 MAD), which can heavily impact small trades.

2. Market Tax & Settlement (BVC + Maroclear)

These are fixed regulatory fees paid to the Casablanca Stock Exchange and the central depository. They are usually very small (e.g., 0.1% or less) but add up.

3. Value Added Tax (TVA)

A 10% VAT is applied, but not on your stock value! It is only applied to the total of the fees mentioned above.

💡 Pro Tip: The Break-Even Point

Because you pay fees when you buy AND when you sell, a stock must typically rise by about 1.5% to 2% just for you to break even. Use our calculator to find your exact break-even point.

Quantité (Shares)

Cours par action (MAD)

Société de Bourse (Broker)

Montant brut de la transaction15000.00 MAD

Total Frais & Taxes+75.75 MAD

Coût Net à Payer15075.75 MAD

Seuil de Rentabilité (Break-Even)

Prix d'équilibre :151.52 MAD +1.01%

Le cours doit atteindre 151.52 MAD (+1.01%) pour couvrir l'ensemble des frais d'achat et de revente.

Détail Réglementaire des Composantes

Courtage (0.35%)52.50 MAD

Source : Grille tarifaire officielle CFG Bank (agréée AMMC)

Règlement-Livraison (0,02%)3.00 MAD

Source : Barème Maroclear (Dépositaire Central)

Taxe de Bourse SBVC (0,10%)15.00 MAD

Source : Règlement Général de la Bourse de Casablanca

TVA sur courtage (10%)5.25 MAD

Source : Code Général des Impôts (Art. 89 & 99)

Barème officiel conforme à la réglementation AMMC et à la Loi de Finances

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