Pfft, not like they can do any harm with it. Either way, I took the whole R500 and shoved it into DBXWD. I have 2c left unspentHmmm the fact that they ask for banking details to register an account worries me a little bit.
Will do a bit more research on this lot first, but on the face of it the service looks promising.
Well they could setup debit orders and all sorts..Pfft, not like they can do any harm with it. Either way, I took the whole R500 and shoved it into DBXWD. I have 2c left unspent
Company behind it is Gt247 which has been around for some time. I have some cash I need to burn!Well they could setup debit orders and all sorts..
More just me doing my due diligence on the company behind this to see that its not "dodgy" at all....
Hopefully will be a quick enough thing, because I do like the idea and the costs of the product.
FNB's Share Saver is integrated into their online/mobile banking solution and depending on the product it could be cheaper than EasyEquities. And like you said (I think) because EasyEquities work with % costs at some stage the fees will become "high". But at that point you won't have much to complain aboutSo I'm interested to find out as to why anyone would use a different broker than EasyEquities? Most brokers charge an annual administration/monthly account fee with a brokerage fee.
Certainly the 0.25% with no account fees is the cheapest around (taking in account no annual/monthly fees)? And lets forget for a moment about the fraction of a share contract and lets say you buy whole shares. Are these whole shares registered in your name as per same process of other brokers? Or does these 'whole shares' still belong to GT?
So imagine you sit with R1mil in value of ETPs at etfSA with a 0.4% annual charge. Thats a R4000 annual fee which could be removed by moving your portfolio to EQ right? Sure, the 0.25% brokerage fee is 0.15% higher than etfSA's brokerage fee, but still promising..
JSE operates on a T+5 clearance/settlement cycle (one of the worst in the world - ASX / LSE is T+3) - so it takes 5 business days after your trade for the shares to clear and settle into your trading account / portfolio.What is with the settlement date that's on 3 November 2014 when I bought yesterday. Can someone give me some insight on it please.
2014-10-30 Bought Satrix Swix Top 40 ETF 2 733.63 2014-10-30 Broker Commission*Satrix Swix Top 40 ETF @ 0.25 -5.47 2014-10-30 Settlement and administration -2.05 2014-10-30 Investor protection levy (IPL) and administration -0.01 2014-10-30 Value Added Tax on costs (VAT) -2.01 2014-10-30 Securities transfer tax and administration -6.83 Total Cost 2 750.00 Shares purchased 276.4034 Cost per share incl transaction costs 9.9492 Cost per share excl transaction costs 9.8900 Executition Thu Oct 30 10:19:15 GMT 2014 Per Google finance Open 9.84 Close 9.85 Low(approx 3pm) 9.79 High(approx 10am - my trade time) 9.96