Buy shares for R100

[emptybruwer]

Buy shares for R100(company GT247)

intersting read on moneyweb. (http://www.moneyweb.co.za/moneyweb-investment-insights/buy-shares-for-r100)

Is it legit? do any of you know of GT247?

They just take 0.25% on trades and no monthly fees!

https://www.gt247.com

I would really like to know if any of you would not use them and why?

 

[Hamster]

Signed up for the investor challenge. I know my friend played around with gt247 back in uni (that's 2007) so they've been around for quite some time. Besides I doubt MoneyWeb will send you emails promoting dodgy companies.

 

[emptybruwer]

It sounds to good to be true. Wondering whats the catch, (where are the making there money)

 

[^^vampire^^]

Minimum First Deposit
N/A
Commission
25 basis points or 0.25%
*STT
0.2% of value traded
Strate
0.005459% of value traded
(Min R10.92/Max R54.59)
Investor Protection Levy
0.0002% of value traded
VAT
14% on brokerage settlement & investor protection levy
Monthly Platform Fee
No charge
Reporting Fee
No charge
Telephone Trades
R 50 per trade
SMS Notifications
No charge
**Interest on Free Cash
S afey -5.1%
Credit Card Charges
R1.60 + 0.23% of Rand value
***SID
R1.60 + 0.15% of Rand value
Debit Order Charge
R4.50 per transaction

 

[^^vampire^^]

Invest R100 and you need an 11-12%+ just to break even.

 

[emptybruwer]

but i can buy R 10 000 for much cheaper then any other company. and that is a once off loss of 11 % , if i pay R 50 p/m for R 10000
i lose 6% over a year just on fees 50x12.

 

[^^vampire^^]

but i can buy R 10 000 for much cheaper then any other company. and that is a once off loss of 11 % , if i pay R 50 p/m for R 10000
i lose 6% over a year just on fees 50x12.

No doubt I mean it's definitely a very cost effective platform - just need to watch what you invest in to make sure you cover your fees if you doing R100.00 investment a month.

 

[BloodBurner9000]

I love this - beats the +-R170 per trade (all incl) I have been paying for absa.

Would it be a problem to move? Does anyone know how this is done, without selling and then buying anything?

 

[emptybruwer]

I want to know also

 

[^^vampire^^]

Not sure if a move without selling is possible, never tried but I'm gonna pump a few grand in this thing and see how it goes.

 

[dunkyd]

Not designed for existing investors. If you sell to buy I doubt you will ever break even. Start a new investment.

 

[dunkyd]

Naturally only after you have done your Googling.....

 

[emptybruwer]

I will also put some money in. No month fees are great

 

[Neo_X]

I see they opened a new "branch" called EasyEquities. but yes - any feedback form people using it is very rare.

I assume you will be able to transfer shares between brokers ( Eg from STDB to GT247).
but eish - dont have that warm fuzy feeling yet about them. not sure why...