Easy Equities good or bad?

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deekay

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Seems good. They have a specific target market though. They were on talk radio 702 few weeks ago. Test out there platform by going for their investor challenge. You have to pay R250 but its refundable. Its trying to bring investing to the masses and demystify it. You can buy fractions of shared e.g. buy shares for R25.
 
Hamster

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If anybody is interested, they went live today (and they kept their promise and credited the account with an extra R250 for those that were playing the challenge) :)
 
ToxicBunny

ToxicBunny

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Hmmm 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.
 
Hamster

Hamster

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ToxicBunny said:
Hmmm 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.
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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 :p
 
Hamster

Hamster

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If anybody was interested in the costs involved, this is for one R497 transaction


DATE COMMENT DEBIT/CREDIT
2014/10/27 Account Balance Carried Forward R 0.02
2014/10/27 Bought DB X-Trackers Col in WLD ETF R 497.00
2014/10/27 Broker Commission DB X-Trackers Col in WLD ETF @ 0.25 R-0.99
2014/10/27 Settlement and administration R-0.37
2014/10/27 Investor protection levy (IPL) and administration R-0.01
2014/10/27 Value Added Tax on costs (VAT) R-0.37
2014/10/27 Securities transfer tax R-1.24
2014/10/14 Investor Challenge R250 Deposit Match R 250.00
2014/10/13 Account Balance Brought Forward R 250.00
 
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ToxicBunny

ToxicBunny

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Hamster said:
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 :p
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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.
 
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Freaksta

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ToxicBunny said:
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.
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Company behind it is Gt247 which has been around for some time. I have some cash I need to burn!
 
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emptybruwer

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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.
 
The_Ogre

The_Ogre

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They called me yeseterday to remind me to FICA. I'm on my way home now and I forgot to do it. will have to do it tomorrow
 
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Freaksta

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YingYang said:
They called me yeseterday to remind me to FICA. I'm on my way home now and I forgot to do it. will have to do it tomorrow
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They are fairly lax with this. Just need copies of the docs if I remember correctly.
 
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adidas

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So 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..
 
Hamster

Hamster

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adidas said:
So 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..
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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 about :p

To my knowledge: whole shares belong to you in what is called a BDA account on the JSE. You receive a BDA number when you register with a broker, so if you want to transfer your portfolio to another broker there are admin costs involved, but totally possible. The broker is just a platform that integrates with the JSE where the REAL data is kept...if that makes sense.

Partial shares are CFDs. They belong to you but from the broker. You can't transfer those.
 
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adidas

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Well, I'm invested in Satrix (direct) at the moment. Looking at diversifying through other ETPs. And have been looking at etfSA, Standard OST, FNB, Sanlam iTrade and Easy Equities.

Now, for me, I just need to easily put money in the ETF shares I choose to buy and leave/forget it. I don't do fixed debit order as my monthly income/expenses change. Easy Equities makes it easy in that sense where you can do the deposit or fund with your card (although card charges apply). And then just buy. No really, you can just buy. Its easier & faster than buying a harddrive from some of these online stores :whistling:

So at 0.25% brokerage I'm struggling to see the need to go for a more advanced trading system like iTrade, OST, FNB etc where you are hit with annual/account fees and some charge 'high' brokerage fees. Obviously there is no analysis/consensus or fancy graphs etc. but I use my own tools for that in any case.

Outside of the analysis, research etc, buying a share should actually be this easy. And to think I was highly suspicious this morning still. But after some research I'm starting to like it a lot.
 
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IzZzy

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emptybruwer said:
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.
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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.
 
F

Freaksta

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I did my first test transaction today with my real cash.

Purchased some Satrix Top 40 SW Shares

HTML: 
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
Im impressed with the platform. I will definitely be using it more. I wont be using satrix anymore although i will leave my current portfolio with them for the mean time (i do intend transferring).

My current plan is to transfer my ETFSA account from ETFSA to easy equities to see how painful/easy the process is before i do my satrix account. I only have R10k in the ETFSA account so it will be the test run(currently filling out the forms!). Then next will be to transfer my compushare shares and then lastly the satrix portfolio once i know the process and im happy that easy equities isnt gonna rob me :)
 
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The_Ogre

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I uploaded my documents at around 4 this afternoon. How long does it typically take before one gets RICA'd? It still says "pending"
 
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Biostar

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Feb 12, 2010
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scan and send it via email as well...they will respond to it almost immediatly.
 
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