Today, you will not surprise anyone with deposit accounts in different currencies... But investments in the form of investments are not yet so popular, but they are rapidly gaining momentum.
There are many pitfalls in this type of activity. And it will be difficult to cope without outside help. Naturally, you need an intermediary, that is, a broker. And, judging by the reviews, the brokers of Sberbank are doing their job well.
How to choose a broker
- The reputation of the organization and the rating of its reliability.
- Convenience of working with it and professional quality employees.
- Prices for service packages (including the standard one), including commissions.
- User reviews.
Why Sberbank?
The main indicator is reputation. In confirmation, you can familiarize yourself with the turnover of the bank's trading operations on the stock exchange. This data is freely available on one of the portals of the Moscow Exchange. The section is called "Leading Operators": Top-20.
The next item is the number of attracted clients. Both indicators indicate that Sberbank is among the top five operators. This has a positive effect on customer reviews of Sberbank brokers.
Sberbank CIB (Sberbank's corporate and investment business) has been offering brokerage services for clients who prefer to personally manage their capital. All transactions are performed online and from anywhere in the world. A wide network of branches for customer service throughout the country provides a unique opportunity to work in the global financial markets.
Offers from the broker Sberbank (Moscow)
A credit institution as an intermediary makes it possible to submit applications to a specialized round-the-clock service "trade-desk". Applications are accepted both by phone and through the QUIK system. This is a known piece of software that needs to be installed on a computer. QUIK works via the Internet.
Sberbank as a broker provides services such as:
- Execution of unsecured transactions. This is margin trading, with which operations with securities are available, the volume of which exceeds the value of the investor's assets (money or valuable papers).
- REPO. That is, OTC transactions, which are considered an alternative to credit transactions secured by securities. The deal makes it possible to quickly help out cash at the expense of the existing securities in the personal portfolio.
- With its help, you can get additional income in the form of 2% per annum from securities in your personal portfolio (short-term placed).
On this moment there are both positive and negative reviews about the services of Sberbank brokers.
Sberbank cooperates with well-known trading platforms, which makes it possible to carry out transactions with a variety of financial instruments. Trading platforms available for Sberbank clients are:
- "Main market", which belongs to the group of stock markets of the Moscow Exchange. Here, sub-federal, municipal and corporate bonds, as well as shares are traded.
- Derivatives market (with access to futures and options contracts).
- OTC market (trades in Eurobonds, shares (units) of foreign investment funds and depositary receipts).
Choosing an account
Sberbank brokers offer their clients two categories of accounts to work on trading floors:
- Basic. It includes simple brokerage accounts.
- Special. This includes investment accounts and individual accounts.
A trading participant has the right to open two accounts at the same time. Accounts of the first category, when working on the site, reflect all ongoing transactions with securities, show movements financial resources in real time and the results of the operations performed (including for a certain period).
In reviews about brokers of Sberbank of Russia, many indicate that an individual account has some tax incentives... In addition, there are restrictions on the amount credited: it should not exceed 400,000 rubles.
Opening an account
Opening an account allows Sberbank to become an intermediary for a client on trade exchange... To do this, you need to appear in person at the branch of a financial and credit institution and write an application, in which it is imperative to indicate the phone number and the current e-mail box. The bank will send confirmations to it for operations performed and financial reports... In addition, a bank specialist will need a passport, a plastic card future broker and his identification number.
After opening an account with the help of a bank manager or on your own, you need to get the account details in the terminal. The whole procedure takes no more than half an hour.
Judging by the reviews, Sberbank brokers do not limit the size of the lower limit of the brokerage account. It depends on the client's desire and ability to pay.
The addresses and phone numbers of Sberbank branches and offices in which they work with brokerage accounts can be found on the official portal of the credit institution.
The account is open. Now what?
Upon completion of the account registration, the bank is obliged to issue to the client:
- terms of tariff plans for depositary services;
- a declaration on possible risks in the securities market;
- completed investor questionnaire;
- a list of bank fees for brokerage activities;
- a card with the investor's code table and a copy of its acceptance certificate;
- a copy of the investor's application for brokerage services.
Now you can legally involve a bank as a broker and start learning the basics of investing, having previously installed the QUIK system software.
Service cost
Credit institutions charge some reward for their help in investing. Its main rule, judging by the reviews about Sberbank brokers, is that with an increase in the deposit, its size decreases. Another case of a decrease in remuneration is an excess of the daily turnover of 50 thousand rubles.
For clients
Most of the reviews note the convenience of working with the company. Indeed, there are plenty of pluses here:
- the application procedure is simple, and its processing takes place in the shortest possible time;
- a large number of trading terminals;
- novice investors;
- competent technical support;
- the ability to analyze transactions at a professional level;
- the availability of tools that allow you to conduct a remote document flow;
- creation of mechanisms that monitor in real time the status of a transaction in progress;
- the presence of a personal account and a personal assistant - the investor;
- a sufficient number of services for withdrawing and depositing funds.
Personal Area
Sberbank of Russia as a broker has an almost perfect personal account. It was created on the basis of the QUIK system and allows you to monitor price fluctuations and account movements, as well as use various additional options. And all this in real time. Plus, Sberbank placed a large detailed instructions, which allows you to correctly install the QUIK system and use it correctly.
A spoon of tar
Many sites, including the official portal of Sberbank, write that it has good indicators in all positions. That it has been taking pride of place among the ten largest brokers for several years already. That for two years the bank has been conducting training seminars on (IIS).
The management company with which agreements are concluded for trust management- MC JSC "Sberbank Asset Management", offers clients two lines of IIS development. Contracts for investment in mutual funds are concluded with her. And so on and so forth.
Among traders' reviews about Sberbank as a broker, there are not so many positive ones. There is a unanimous opinion that the tariffs on the MICEX are very high, it is impossible to open an account remotely, there is no single account and currency section.
Newbies most often write that there is no strength to endure constant extortions: a commission for opening and closing a deal (and more than one), plus 149 rubles per month for the first opening or closing of a deal and, of course, 13%. As a result, there is no profit at all. If you withdraw in parts, 13% is removed every other time, at the end the manager calls and asks to pay tax debts. Tax is also levied on a negative transaction and even on a withdrawal own funds(not arrived).
Those who have been trading a little longer talk about managers who are terrified by the words "quick" and "futures". They send one to another, and, as usual, it is not possible to obtain information either on tariffs or on current transactions.
Newbies and watchmen alike agree that there is an artificial creation of problems for customers. It happens that the account is mistakenly frozen, and you can find out about this only during the purchase process. And even when the situation clears up, the account is not opened immediately, but within a few weeks.
There are also such reviews about the work of Sberbank brokers, in which clients complain about the impossibility of quickly withdrawing or creating an order. At the same time, the server stably freezes, and the money goes away. In such a situation, many urgently change their broker.
The regulars of the brokerage markets are sure that the server is "hung up" on purpose as soon as volatility rises. Communication is then interrupted. They believe that this broker is unable to provide a quick, and most importantly, stable entry to the market. But the strangest thing is that it seems that it does not want to ...
There are many outraged reviews about rudeness. Moreover, the conversation is not about one or two managers, but about a large number of employees in different cities and branches. Traders and investors interpret this position of bank specialists as a desire to get rid of them.
What is the bottom line? As a result, the competence of managers and traders-consultants is estimated at one and a half points out of ten. Adequacy of tariffs and additional services - by one point. And even in terms of the sum of all parameters, Sberbank brokers do not even reach two of the same ten points.
Sberbank CIB's corporate investment service presents a number of unique trading instruments for trading in financial markets.
System features
Brokerage services are ordered on the basis of an agreement with Sberbank, on the basis of which a personal account is opened, where funds are placed for conducting trading operations. This requires the download of a special user application (the mobile version can be used). The program serves to submit user orders and transfer by phone or online to an employee of the consulting center. When choosing a telephone call method, the tariffication of applications is carried out taking into account current conditions payment for operator services.
How do I apply?
Brokerage services of Sberbank individuals are available after opening an eponymous and universal account, if the user has bank plastic SB, the whole process will take 2-3 minutes:
- The branch employee will ask you to swipe through the card reader payment instrument and specify the pin code. This is necessary for automatic user identification.
- Information about the owner of the plastic will be indicated in the contract, and the specified pin code will act as an electronic signature.
- For registration of a universal account, you will need to pay a commission of 10 rubles. After successful completion of the transaction, account management will be available through electronic service"SB Online @ yn".
- At the request of the client, it is possible to issue a passbook.
- Additionally, an application for the provision of broker services is drawn up and the investor's questionnaire is filled out.
Package of documents:
- Identity document.
- Application.
- Application form.
- Identification code.
A prerequisite is the submission of documentation within 30 days after contacting Sberbank. Brokerage services, reviews of which report the high competition of the bank, due to low commission fees and the ability to conduct transactions through mobile app or a stationary device include:
- Two brokerage accounts: currency and ruble.
- DEPO account at the depositary.
- DEPO trading account in the depository (if the trading system of the Moscow Interbank Currency Exchange is selected).
Selection of trading platforms
Owners of a personal brokerage account can participate on the following trading platforms:
- MICEX Stock Exchange, where trading operations are made with securities (stocks / bonds).
- Futures market.
- OTC markets.
Broker services
Sberbank provides a number of services:
- Consulting and drafting applications through online trading services QUICK or by telephone.
- Working with commodity-unsecured money (margin trading) - the ability to use "margin leverage" in the range of specified limits, which allows you to increase your working capital and investment income.
- OTC REPO transactions. Registration of "leverage" against security in the form of securities.
- Overnight REPO - attracting additional income (2% per annum) from short-term securities placement in personal portfolios of brokerage accounts. The service is available to residents of the Russian Federation with the status of "qualified depositor".
Tariff plan
Sberbank has a wide demand for 2 methods of charging brokerage services:
- "Active". The higher cost of services is due to the increased level of telephone service. For example, urgent advice on a specific case or the execution of orders, filing applications. However, submission of applications is free of charge, and under the terms of the “self-service” tariff, the payment is 150 rubles. per application. Online contact is made according to similar tariff plans.
- "Independent". Profitable proposition for adventurous exchange trading participants who want to engage in independent online account management. For this, trading systems are used: FOCUS IVonline or QUICK, which allow you to quickly perform transactions and have access to technical analysis market. This tariff provides a small commission for transactions with funds, but all applications are submitted on a paid basis.
Both tariffs have common indicators: with an increase in the amount working capital the level of commissions decreases, but an active account is always more expensive to service, the difference reaches up to 1%. Other characteristics are the same.
How do I handle my account?
To carry out trading manipulations, funds will need to be credited to a brokerage account through self-service devices or by transferring from a card, after which investors are able to perform the following operations:
- Operations to transfer money and securities from the trading account to the main one and vice versa.
- The circulation of funds between several sites.
- Cashing out an account.
Non-trading operations can be performed over the telephone or through the QUICK system. For the convenience of customers, the possibility of contacting the Trade-desk service is provided.
V recent times trading on stock exchanges is becoming more and more popular. There are quite a few reasons for this, one of them is quick way earn enough good money... If previously only experienced specialists in this matter were interested in opening a brokerage account, now everyone can join trading simply by using the services of competent broker companies. One of them is Kib Sberbank.
Sberbank brokerage service consists in the fact that the bank provides its clients with the service of representation on the stock exchange. On behalf of the client, Sberbank makes bets and makes a profit. At the same time, the client has the opportunity to manage his deposit, specifying before starting cooperation:
- what transactions would I like to focus on;
- how much profit is needed;
- what risks the client is ready to face in order to make a profit (it is clear that with an increase in risks, the potential profit also grows).
If the client opening such an account does not at all understand the peculiarities of exchange trading and simply considers such an investment as an alternative to the standard bank deposit, then brokerage services of Sberbank can also imply a complete strategy building, that is, you will not need to indicate the features of transactions in which you would like to take part.
Many contracts provide that the client then forms an individual application for participation in a transaction. This can be done by phone or online. The rest of the time, funds are allocated at the discretion of the company.
Advantages
Sberbank provides various services to its clients, including brokerage. In this case, the representation of the client's interests on the stock exchange is carried out on behalf of Sberbank KIB. The advantages of cooperation with this company are:
Thanks to all these advantages, the Sberbank broker has been very popular among clients for a long time.
If you look for reviews on the Sberbank broker, you can come to the conclusion that, like any other organization, Sberbank has its pros and cons. At the same time, in comparison with many other companies, Sberbank is a reliable organization with minimal tariffs for the services provided.
How to register
To start providing brokerage services to Sberbank, you must first sign a corresponding agreement with Sberbank. It specifies absolutely all the features of further cooperation. At the same time, individuals in 2017 are given the opportunity to choose one of the most suitable packages:
- for partial self-management. It is understood that the client is familiar with the peculiarities of the exchange and therefore partially manages his account himself;
- for active use, when the client is not familiar with the specifics of the work, but at the same time prefers that the transactions were coordinated with him. In this case, a client's request is required for Sberbank to start trading on this account;
- participation in trading is also possible for those participants who absolutely do not understand the intricacies of trading. In this case, it is necessary to indicate in the agreement that the client entrusts the conduct of transactions at the discretion of the broker.
Thus, before opening a brokerage account, you need to learn about all the intricacies in order to then prescribe the terms of cooperation and tariffs in the agreement. In 2017, it is envisaged that it is possible to sign an open-ended cooperation agreement. In this case, there is no need to regularly renegotiate the contract - it is terminated only if one of the parties expresses such a desire.
For those who are already a client, in 2017, even more convenient system how to open a brokerage account with Sberbank. To do this, just go to Personal Area, get acquainted with the terms of cooperation and apply for opening a brokerage account. If desired, it is also possible to make independent bets there and take part in trading. To conclude an agreement, you do not need to go to the office - all operations can be performed online.
Billing
For similar financial operations Sberbank provides for an additional commission. In 2017 by general rule we can conclude that the larger the deposit, the lower the commission for transactions. Tariffs will be much lower if the daily turnover on the account exceeds 50 thousand rubles.
There is no minimum amount for opening an account by internal criteria, so the client has the right to invest any amount he wishes.
If the client wants to manage his account himself, then he will have to pay 150 rubles for submitting 1 application through the QUIK program. In addition, the commission for the daily turnover will be 0.165%.
If applications are submitted free of charge over the telephone and the client's influence on account management is minimal, then the commission is 0.33% of the size of the concluded transactions.
All current tariff rates for 2017 can be easily found on the Sberbank website or in model contract... For large money turnover they change in inverse proportion.
Thus, now trading is becoming available to absolutely everyone, regardless of the ability to conduct business on the stock exchange. For those who just want to use such financial services as an alternative to a standard deposit, it is enough to simply conclude an agreement with Sberbank in order to receive the expected profit within the expected time frame.
The stock exchange is a securities market within which buying and selling takes place. In this case, the participants interact with the help of an intermediary. The exchange itself is a kind of guarantee of the safety of transactions.
Trading on the exchange through Sberbank can be carried out not only by individuals, but also by legal entities.
Sberbank is one of the most major shareholders Moscow Exchange, which united the MICEX and the RTS in the summer of 2012. The Bank provides intermediary services to its clients. The user can trade in shares through Sberbank. It is the Moscow Exchange that is considered the largest in Russia. There you can trade stocks, metals, currencies, bonds.
Trading in shares through Sberbank implies the purchase and sale of securities even of such well-known companies as Gazprom and Lukoil. This type of business is of a high standard, especially for savvy investors. It is no coincidence that people trade securities through Sberbank, the organization has established itself as a reliable broker offering favorable conditions.
How are deals concluded?
First, applications are submitted by persons wishing to sell the existing shares. Potential buyers leave their applications in response. The exchange system is adjusted so that all incoming offers are processed automatically. The mechanism looks for counter orders (when demand matches supply). If there are any, then the transaction is automatically concluded. The seller receives remuneration for the sold shares into the account, and the buyer becomes the owner of the securities.
Does an individual have the right to trade on the stock exchange through Sberbank?
An individual cannot carry out trading on his own, but he has to do it through a broker full right... V this case Sberbank maintains records of all transactions and pays income tax.
At the same time, the time for conducting an operation through the Internet exchange does not increase, it is the same as when trading directly. All user tickets are displayed a few seconds after creation.
What is the minimum threshold for entering the exchange?
Sberbank is an exchange that has practically no money entry restrictions. Some lots cost less than one hundred rubles. Sberbank is a major broker. He is ready to become an intermediary even for those investors who have small deposits.
How to start trading on the exchange?
Before you can trade on the exchange through Sberbank, you must fulfill the necessary conditions:
- Choose the right broker.
- Conclude an agreement with Sberbank, the subject of which will be depository and brokerage services for the client.
- Download to computer special program, with the help of which the bargaining will be carried out.
- Get a personal access code, which is required to start working in the brokerage program.
- Register a trading account.
How to choose the most suitable stock broker?
Novice stock traders are wondering what criteria should be considered when choosing a broker? Many people choose to trade on the exchange through Sberbank after reading a lot of positive reviews.
It is important to understand for yourself what will be important and what you can ignore. The following factors are usually evaluated:
- Commission size
The broker takes a percentage of the client's turnover. Usually it can vary from 0.04% to 0.1%. Special attention this factor should be addressed to those users who are going to invest the available funds for a short time, the frequency of transactions will be high. Constant buying and selling leads to higher commission collection. The income from each operation will be reduced by a percentage of the turnover, not the profit.
You can choose a broker for yourself not with interest, but with a fixed service fee. This type of reseller is more suitable for individuals with a large or medium deposit.
- Minimum deposit amount
There may be no restrictions on the size of the minimum deposit. Typically, large resellers are willing to work even with small investors.
- The ability to use leverage
Any exchange provides its clients with the opportunity to get leverage. However, they are not provided for all types of securities. The broker usually provides a list of margin securities to the client.
If an investor wants to use leverage, he needs to find out if it is possible to get it for a specific type of securities, as well as the size of the leverage.
- Maximum leverage size
The maximum leverage is set for a specific type of security. Some brokers are ready to allow an investor to dispose of funds ten times larger than he has on the deposit.
- Terminals for trading
There are a lot of such terminals. They are not always reliable and convenient. Some may not perform certain functions.
- Ability to view news feeds and analytical data
This factor allows you to work and collect the necessary information and news on the working platform and keep abreast of the latest events.
How to buy stocks online?
After the agreement with Sberbank on brokerage services is concluded, and the platform is downloaded, configured and in working order, you can start trading stocks on the Internet.
An investor, starting to trade shares on the stock exchange, must remember that it is not worth investing all funds in one project.
If a person takes only the first steps on the stock exchange, he should use only his own funds and not resort to obtaining leverage. It is issued not free of charge, but at interest. In addition, you can lose everything and remain in debt.
An investor needs the help of a brokerage company to carry out transactions with securities, since an individual cannot directly access the stock market without an intermediary. Sberbank's brokerage services, despite the contradictory attitude of many market participants towards it, are nevertheless in high demand. We can say that although Sberbank has a rather narrow range of market instruments, this is enough for most clients - so over 180,000 investors in Russia choose Sberbank as their personal broker. In terms of the turnover of funds in the stock market in September 2017, it ranks fourth, behind BCS, Otkrytie and Renaissance broker, slightly bypassing such an industry giant as Finam.
History and development of the company
Sberbank CIB is a corporate and investment business created on the basis of Sberbank CIB JSC. One of the key areas is the execution of transactions in securities trading. The service was created in 2012, when Sberbank of Russia and Troika Dialog (the largest Russian investment company). Let me remind you that bankruptcy brokerage companies in Russia it is incommensurably less frequent than banks - due to the difference between these businesses. Nevertheless, those looking for additional reliability can use the brokerage services of Sberbank, the risks of which can be compared with the risks of the state pension fund RF. Business "Sberbank KIB" is designed for large legal entities... However, since I am focusing on a private investor, below will be described brokerage services presented on the Sberbank website: https://www.sberbank.ru/ru/person/investments/broker_service/.
Traded financial instruments
Investors who have chosen Sberbank as their broker can trade on. Sberbank broker offers a number of instruments and markets for trading:
Stock market - transactions can be carried out with foreign and Russian shares, depositary receipts and Russian bonds, federal loan bonds; there are also mutual funds and exchange-traded funds. Trades are carried out on the Moscow Exchange.
12 ETFs (investment group) are traded on the Moscow Exchange, which, in addition to Russian stocks and Eurobonds, provides investors with the opportunity to invest in foreign markets (USA, Germany, Great Britain, China and Japan). However, individual promotions foreign companies can only be purchased by investors with the status of “qualified investor” (Federal Law of the Russian Federation No. 39 “On the Securities Market”). Exception - St. Petersburg stock Exchange, it is possible to purchase shares of many American companies from the S & P500 without special status.
Derivatives market - transactions are carried out with commodity futures, option contracts for shares, for stock indices, for foreign currencies and other financial instruments. The available trading platform is the Moscow Exchange.
OTC market - transactions are carried out both with low-liquid shares of small enterprises, and with corporate and government Eurobonds for hundreds of thousands of dollars. Transactions take place between buyer and seller outside the exchange. The purchase of Eurobonds requires the status of a qualified investor recognized by Sberbank.
The main advantages of trading in the derivatives market for a speculator:
operations can be carried out by both large participants and "beginners" with a small amount of funds;
due to a wide range of financial instruments, it is possible to carry out many operations;
high liquidity;
no need to pay depository
However, an investor has nothing to do in the derivatives market. The derivatives market can insure your shares against a fall with the help - but since an investor is focused on asset growth, he can overcome such risks by choosing a share of a risky instrument that is comfortable for him, rebalancing the portfolio and the time horizon of his investments. Currency hedging is easiest to accomplish by buying two or more funds whose assets are denominated in different currencies - the aforementioned FinEX company has several such funds (although both in terms of capitalization and the number of exchange-traded funds, FinEX cannot be compared with industry leaders like by Vanguard).
Sberbank Asset Management JSC
Sberbank Asset Management JSC offers the opportunity to increase the invested capital using the Trust Management service and several appropriate strategies with different levels of profitability and risk ratio. Among the current options:
“Long-term capital gains (shares)” (risk profile - high). Investments from 1 year, the level of income is above average. The minimum amount of investment funds is 7,000,000 rubles.
Capital protection (risk profile - conservative). Investments from 1 year, the maximum income level for 2 years is 29.6%. The minimum investment amount is 7,000,000 rubles.
"Active management" (risk profile - high). Investments from 1 year, the projected income level is above average. The minimum investment amount is 3,000,000 rubles.
A complete list of Sberbank's trust management strategies and conditions can be seen on the company's official website. In total, there are currently 10 strategies presented there, which can be found at the link: http://www.sberbank.ru/ru/person/investments/confidential_management.
Trustee services for an investor cost from 0.003% to 0.0057% per transaction, depending on the amount of daily turnover, assistance in registering an urgent transaction - 0.50 rubles per contract, forced closing of positions under a contract - 10 rubles per contract.
In my broker reviews, I emphasize that an inevitable exists between an investor and a broker, as a result of which a lot of costs are included in the management of investor funds: these are commissions depending on the daily turnover of funds (i.e. if the robot has made 100 transactions on your account per day). 000 rubles with a commission of 0.1%, then you will pay 100 rubles regardless of the result), commission on profit (usually about 20%, if any), connection fee and exchange fees. The details may vary depending on the specific strategy, but on average, so.
All this may seem acceptable with a noticeable increase in the asset - but even if you are lucky enough to catch the moment of takeoff, it will inevitably end one day and costs will come to the fore. And the longer you invest, the more noticeable these costs will be. Direct trust management is less strictly regulated than the actions of managers in mutual funds- however, more opportunities to generate income does not mean a higher probability of earning it. It is nevertheless in the company's best interest to sell the product so that the marketing looks attractive:
Another important point is that the strategy indicators need to be compared with the indicators stock market, in which you can invest with minimal costs through. Those. when trading Russian stocks, the results are compared with, when trading international stocks, you can use the S & P500 indicators. With the current rate of Sberbank on a deposit of about 5% per annum, it is easy to forget that Russian market shares in 2015 grew by 23%, and in 2016 - by almost 29% without any active management (the S & P500 index in the same 2016 gave almost 10% in dollars). Therefore, any strategy for Russian stocks with a benchmark in 2015 to date (November 2017) is likely to give very good performance, if only Management Company will not spoil her much with his actions. Some brokers superimpose the behavior of the index on the chart of their management, but we do not see this here.
I do not recommend direct trust management, or investing in robots or algorithmic trading, regardless of the company that provides them - in this case, time works against the investor, accumulating losses due to high capital management fees. And even more so, the high entrance threshold should not be considered as some kind of additional advantage which helps to get more income- just a monster like Sberbank does not want to tinker with small capital, recouping the costs of maintaining the strategy and reporting.
Individual investment account of Sberbank
If you bought shares after 01.01.2014, you owned them more three years and sold them at a higher price than they bought, then you do not have to pay income tax (personal income tax) on the profits received. The maximum amount of profit that is exempt from tax is 3 million rubles per year.
