ABSA Stockbrokers vs Easy Equities

Hamster

Hamster

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I asked this question on another forum, but cant hurt asking here too.

BUT please, if you haven't used either of these platforms or if you are just going to carry on about EE's buy offer prices, then keep your ePenis comments to yourself.

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So the second year of TFSA's are coming up, I've decided to move some of my investments away from the likes of Stanlib. I've been using EWEfor quite a while and I like it (save the massive portfolio value one can see from tbe office across the road).

Thing is, we are starting g to talk about much larger sums of money than the TFSA's and other speculation investments on it. Do any of you use ABSA's platform? I'm talking specifically their ETF Only and TFSA offerings.

Which platform of the two would you use for the above?

PS: I played with the ABSA demo account, feels more "financial".
 
I can't decide ever, I have both

ABSA Stockbrokers is more freedom when buying as you can make an offer at a lower price or buy immediately at prevailing price

When selling the situation as the same as above, you can try to sell at higher than market price

EE just has fixed buying and selling prices.

Also with ABSA you can't buy a part of share, you have to buy the whole one, but with EE you can invest in part of a share. So with ABSA you will always available cash in your stockbrokers account
 
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Raising an old thread but I thought that some wannabe investors might find this useful.

I applied for ABSA TFSA and ETF only account on 3 May and sent all FICA documentation via email to SPMFICA on 4 May. No reply, no thanks we have received, nothing.

Since 13 May I have emailed equities and SPMFICA three times and had zero reply.

Phoned equities call center and the agent said she will check and call me back in "a few minutes". 2 June today and still no call...

Opened an EasyEquities account, submitted the FICA documentation online and it was verified in 1 hour. Boom.
 
I just registered on ABSA's site now and oh my word a wall of options I'm immediately greeted with a wall of options, looks like ABSA's site is definitely more professional.

However, further investigation will have to be done in the morning.
 
For ETF ABSA is definitely the better option now.
 
Xzib1t said:
I just registered on ABSA's site now and oh my word a wall of options I'm immediately greeted with a wall of options, looks like ABSA's site is definitely more professional.

However, further investigation will have to be done in the morning.
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Well for one it doesn't look like an Android game for kids, unlike EasyEquities. You also have limit trades which gives you far greater control over what you are doing.
 
Any updates on this?

I read a thread (hahaha) a while back in which ppl were complaining that ABSA has fewer funds available in their TFSA is this still the case?

I also see that they are a bit cheaper at 0.2% vs 0.25% - anything else to consider?
 
MikyMouse said:
Any updates on this?

I read a thread (hahaha) a while back in which ppl were complaining that ABSA has fewer funds available in their TFSA is this still the case?

I also see that they are a bit cheaper at 0.2% vs 0.25% - anything else to consider?
Click to expand...

I'm repeating myself but what the hell:

- EE allows fractional shares so less "unused" cash in your account
- ABSA is more powerful and gives you far greater control over you prices you buy and sell at
- ABSA's UI is clearer and more powerful. I do not like EE's pink blocks floating on the screen. I prefer the table layout so I can see exactly what's going on at a glance.

TFSA and ETF Only:
- EE and ABSA's costs here are so close it is negligible

Regular shares:
- Nobody beats EE with costs
 
Hamster said:
I'm repeating myself but what the hell:

- EE allows fractional shares so less "unused" cash in your account
- ABSA is more powerful and gives you far greater control over you prices you buy and sell at
- ABSA's UI is clearer and more powerful. I do not like EE's pink blocks floating on the screen. I prefer the table layout so I can see exactly what's going on at a glance.

TFSA and ETF Only:
- EE and ABSA's costs here are so close it is negligible

Regular shares:
- Nobody beats EE with costs
Click to expand...

Many thanks!
 
MikyMouse said:
Any updates on this?

I read a thread (hahaha) a while back in which ppl were complaining that ABSA has fewer funds available in their TFSA is this still the case?

I also see that they are a bit cheaper at 0.2% vs 0.25% - anything else to consider?
Click to expand...
I don't know what people mean by fewer funds being available. Both have a R30k per annum cap you can put into the account. As Hamster has stated you can't buy fractional shares which means there will be a hundred or so left in the account sometimes but with the lesser cost it will mostly make up for that. Also with the complete control ABSA gives you I'd choose them any day over EE.
 
Swa said:
I don't know what people mean by fewer funds being available. Both have a R30k per annum cap you can put into the account. As Hamster has stated you can't buy fractional shares which means there will be a hundred or so left in the account sometimes but with the lesser cost it will mostly make up for that. Also with the complete control ABSA gives you I'd choose them any day over EE.
Click to expand...

I was talking about the number of instruments that they offered. But I did some more digging and found that they both have around 37 / 38

Edit: EE actually has 43 vs ABSA which has 38 - I just counted
 
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Is it easy to transfer existing holdings to EE?

I'm on Sanlam iTrade and I can't really justify the cost for the features and type of investing I am conducting so would like to move to the cheaper, simpler alternative that is EE.
 
Hamster said:
Well for one it doesn't look like an Android game for kids, unlike EasyEquities. You also have limit trades which gives you far greater control over what you are doing.
Click to expand...

Disadvantage is though that a mistake could be disastrous.
Imagine selling but leaving out a zero by mistake.
 
xumwun said:
Disadvantage is though that a mistake could be disastrous.
Imagine selling but leaving out a zero by mistake.
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Time to put on your grown up double check before you submit pants.
 
Hamster said:
Time to put on your grown up double check before you submit pants.
Click to expand...

Just saying. It does happen though, saw an article on fin24 a while back on somebody that put in the rand price instead of cents.
 
DWAAS said:
What is a TFSA and ETF?

I've joined recently on EE
Click to expand...

Tax Free Savings Account.

Exchange Traded Fund - Sort of like a unit trust but is a basket of other shares purchased as a collective. In a way it enables you to buy shares you couldn't afford otherwise. Generally also grouped in a sensible manner to take the hard work out of it.

Known as passive investing as well. Nobody sits and monitors it. The shares are pre-selected inside the ETF and only changed once year or even less in most cases. Generally used for long term investing as it's not very volatile.
 
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