There is a cost to use Douugh and we aim to be 100% transparent about all costs to help you make informed decisions.
All the details surrounding costs can be found in our Financial Services Guide but as the cost of Douugh for individuals depend on what services you use, we will break down the main costs associated with each Douugh feature below:
What you get
When do you pay
$1.99 per repayment
Each time you take out a new Spot Me
Access to borrow funds to smooth your cash flow.
Each Spot fee is broken down and equally shared over 4x weekly installments. This means you pay a flat $1.99 repayment fee on top of each of your Spot repayments.
Access to one of seven Portfolios to help you manage and grow your money.
When you have a Portfolio with a market value of greater than $50 on any day during the billing cycle.
Allows you to place as many trades as you like on any of the individual shares available in the US Shares feature for 28 days.
When you make your first trade you pay for and start your 28 day trading period.
If you don't make any trades after this 28 day trading period, you don't pay this fee again until you make your next trade and start a new trading period.
When funding your US Wallet
Allows you to trade in USD on the US market.
Each time you fund your US Wallet. This includes funding through Autopilot.
When you choose to fund your US Wallet with instant funding
Prompt access to USD funds for trading.
Each time you choose instant funding to fund your US Wallet.
W-8BEN (US tax form)
Reduces the withholding tax charged by the US from 30% to 15%
This is paid on your first trade. (We cover the paperwork)
There are also some other circumstantial costs that may apply as per below:
Why it applies
Direct Debit Fail
Each direct debit failure
Direct Debits incur a $15 fee if they fail. This fee is charged by your bank.
Transfers from Douugh to another broker
Best to contact your receiving broker to understand the reasoning for these costs.
This fee covers the cost of compensating the institution providing custodial services for the ADR
Regulatory Fees - SEC
$0.0000051 per $1 of sales proceeds, rounded to the nearest cent
SEC Fee. A regulatory fee charged independently of brokerage costs.
Regulatory Fees - TAF
per share, rounded to the nearest cent.
TAF Fee. A regulatory fee charged independently of brokerage costs.
We have done our best to be upfront about all the costs of using Douugh in this article, but if you’d like more detail, have a look at our Financial Services Guide.