CoreShares Investment Platform

[Hamster]

:wtf: indeed. Not a great first impression.

No it's not, but EE went through the same thing initially. However, if they come back and STRATE is not subsidised as it is on EE then it might become too expensive.

 

[Hamster]

CoreShares fixed their bug. I saw it per chance just now, they never bothered calling back. Anyway, new fees comparison:

Invest: R1000
Total Cost CoreShares: R11.92
Total Cost EasyEquites: R3.14
Total Cost ABSA: R 35.01

Invest: R10,000
Total Cost CoreShares: R20.92
Total Cost EasyEquities: R31.28
Total Cost ABSA: R35.03

Invest R20,000
Total Cost CoreShares: R30.92
Total Cost EasyEquities: R62.54
Total Cost ABSA: R57.67

ABSA has limit orders though which means that if you are patient enough you could get a good deal by buying at a lower price than you would on EasyEquities or CoreShares.

 

[supersunbird]

So the less the amount, the cheaper EE is?

What's the break even point?

 

[Hamster]

So the less the amount, the cheaper EE is?

What's the break even point?

Patrick once calculated it and it was somewhere close to R6000 IIRC. But it's not as simple as that:

* CoreShares might become cheaper much quicker but there is a platform charge. The more you use CoreShares the better deal it becomes
* EasyEquities heavily subsidises STRATE and other costs. The moment they can't afford to do so anymore their fees will jump by R10.92 (or close to it) and they'll be the most expensive of the three.
* ABSA might be more expensive at lower trade values but because you have limit orders you can control what you are buying at - more for less if you have the patience.

I don't see the benefit of this CoreShares platform (trade still not placed...deposited Wednesday already).

I'm going to go search for that podcast now.

 

[supersunbird]

So for a R2750pm TFSA account best to use EE for now...

 

[Hamster]

So for a R2750pm TFSA account best to use EE for now...

Probably

 

[Hamster]

Here you go: http://www.702.co.za/articles/4697/investing-in-shares-just-got-easier-and-way-cheaper-got-r10

At 9:00

 

[VG008]

CoreShares fixed their bug. I saw it per chance just now, they never bothered calling back. Anyway, new fees comparison:

....

I think your ABSA fees are based on their EFT only account.
Below are the fees for the TFSA account with ABSA.

Estimated cost at a limit price of 100c R1 000.00
Brokerage 2.00
Strate Settlement Charge 3.85
Investor Protection Levy 0.00
VAT 0.82
STT 0.00
Total estimated cost 6.67

Estimated cost at a limit price of 100c R10 000.00
Brokerage 20.00
Strate Settlement Charge 3.85
Investor Protection Levy 0.02
VAT 3.34
STT 0.00
Total estimated cost 27.21

Estimated cost at a limit price of 100c R20 000.00
Brokerage 40.00
Strate Settlement Charge 3.85
Investor Protection Levy 0.04
VAT 6.14
STT 0.00
Total estimated cost 50.03

 

[Hamster]

None of the fees I posted was from a TFSA account. All regular accounts (ABSA ETF) on the platforms. No idea if there is a cost difference between the regular and TFSA on CoreShares.