Easy Equities good or bad?

[Tinuva]

I started with the TFSA about a year ago. Standing at 10.4% increase which is decent, but less than what I was hoping for. But all in all, not too bad. Will just keep going with it.

 

[SauRoNZA]

I started with the TFSA about a year ago. Standing at 10.4% increase which is decent, but less than what I was hoping for. But all in all, not too bad. Will just keep going with it.


View attachment 762992

It sucks though that they don't account for dividends in that profit calculation and only share price.

If you are into dividend heavy ETF's that don't chase price then it looks like you are playing a losing game but meanwhile it's nothing like that.

 

[Tinuva]

It sucks though that they don't account for dividends in that profit calculation and only share price.

If you are into dividend heavy ETF's that don't chase price then it looks like you are playing a losing game but meanwhile it's nothing like that.

Ah yeah that's true. I have a mix. But you can at least track the total value on 22seven.

 

[mr_norris]

I started with the TFSA about a year ago. Standing at 10.4% increase which is decent, but less than what I was hoping for. But all in all, not too bad. Will just keep going with it.


View attachment 762992

Props to you, I am sitting at -1.39%. That's an improvement from what it was a few weeks ago. I made bad decisions.

 

[Tinuva]

Props to you, I am sitting at -1.39%. That's an improvement from what it was a few weeks ago. I made bad decisions.

Do you at least get dividends?

 

[mr_norris]

Do you at least get dividends?

Yeah, but they have been quite minimal. But I'm HODLing until break even for those ones that have gone pear, and then going ahead with what I should have done from the beginning.

 

[Swa]

Anyone else receive this notification from EasyEquities. Does this now mean that once the IUDL has been reached and any new funds deposited will have to go through this process. I haven't received any such notifications from any of the other financial institutions that I deal with. Does ETFSA platform have the same policies in place?

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​ ​ ​ ​ ​ ​ FICA legislation requires that we conduct a customer due diligence upon registration of a new client and ongoing due diligence in respect of existing clients (“Risk Based FICA Approach” or “RBA”). Legal speak to say that there is a law that requires EasyEquities to at all times make sure all our clients only deposit money they have made legally. Basically EasyEquities must ensure, like all financial institutions, that there is no money laundering happening on the EasyEquities platform. To make the process as simple as possible, each Easy user has been allocated an Initial Upper Deposit limit (IUDL). The table below shows how our finance team calculated your IUDL: View attachment 717405 Each time an Easy user deposits money, our system calculates whether the deposit will result in the IUDL being breached (adding all money deposited in the current financial year). If the deposit will result in the IUDL being breached, we direct the deposit to a special account, where your money attracts interest at the same rate as if it were allocated directly into your investment account. This is to ensure that your cash remains safe. The next step is that one of our Client Engagement Champions will call you and ask for additional information:​ Documents to confirm where the money came from; Info on your annual income that will enable your Upper Deposit Limit to be increased. Once this has been done, your funds will be available as always. Whilst we introduce this process for your and our protection, there may be hiccups. We would appreciate if you alert us via [email protected] if you notice anything that makes no sense or causes you concern. And we will get onto it immediately. EasyEquities is a platform and community that prides itself on transparency and working with and for our clients. If we make mistakes, we apologise and fix them. At the end of the day we remain committed to our over 200 000 clients and enabling them to achieve financial freedom. Thanks for your support and happy investing!​ ​ Team EasyEquities​ ​ ​

This is a bunch of nonsense. A bank would be the primary vehicle where money laundering takes place. I can understand if it was cash deposit.

When I logged in I also got the questionnaire. I just selected employed and got the R50k limit which I won't be reaching anytime soon. Got an email my account is now activated and I can start investing. Err... it's been active for years already.

 

[zerocool2009]

My first ever R1k deposit at 2pm .... its reflecting 7:30pm (not bad for a start I would say)

 

[AirWolf]

My first ever R1k deposit at 2pm .... its reflecting 7:30pm (not bad for a start I would say)

Which bank?

 

[zerocool2009]

Which bank?

Fnb to Absa (and didnt select clear today either). So I am impressed

 

[AirWolf]

Fnb to Absa (and didnt select clear today either). So I am impressed

So why not FNB to FNB?

 

[zerocool2009]

So why not FNB to FNB?

The EE account is with Absa

 

[Tinuva]

The EE account is with Absa

You are wrong...




My payments reflect instant almost always to EE.

 

[shooter_za]

You are wrong...

View attachment 763070


My payments reflect instant almost always to EE.

Yeah, from my FNB to their FNB account takes only a few minutes to register.

 

[Tinuva]

also

 

[zerocool2009]

also

View attachment 763074

thanks for that .... I didnt even saw you can select the bank (Absa was selected by default)

Account Name: FIRST WORLD TRADER NOMINEES (RF) (PTY) LTD
Bank: ABSA
Account Type: Cheque / Current
Branch Code: 632005
Branch Name: Hyde Park
Account Number: 4096150463



So ja ..... FNB to Absa within a few hours (awesome)

 

[zerocool2009]

thanks for that .... I didnt even saw you can select the bank (Absa was selected by default)

Account Name: FIRST WORLD TRADER NOMINEES (RF) (PTY) LTD
Bank: ABSA
Account Type: Cheque / Current
Branch Code: 632005
Branch Name: Hyde Park
Account Number: 4096150463



So ja ..... FNB to Absa within a few hours (awesome)

This is on par with TymeBank (2 thumbs up)

 

[zerocool2009]

Any tips on the FSR / #Shares when buying ? Or rather the 3 different pricing that I see. I understand EE wants to buy at the lowest amount (or that is what I am sensing)

 

[Hamster]

Any tips on the FSR / #Shares when buying ? Or rather the 3 different pricing that I see. I understand EE wants to buy at the lowest amount (or that is what I am sensing)

The only tip I can give you is that if you are using EE use it for what it is. An easy fuss free way to invest long term. They let you use the platform for free and their trading costs are very very cheap. The downside is that you have no control over the price you are buying and selling shares at. You win some you lose some.

If accurate equity pricing is important to you you're better off using something like ABSA Stockbrokers (their ETF Only Account for example).

TL;DR; Don't bother yourself with the finer details, it's cheap and easy and works.

 

[Swa]

The only tip I can give you is that if you are using EE use it for what it is. An easy fuss free way to invest long term. They let you use the platform for free and their trading costs are very very cheap. The downside is that you have no control over the price you are buying and selling shares at. You win some you lose some.

If accurate equity pricing is important to you you're better off using something like ABSA Stockbrokers (their ETF Only Account for example).

TL;DR; Don't bother yourself with the finer details, it's cheap and easy and works.

The issue I have is that you can't even see the price. It could have changed 10% in the 15 minutes last quoted. Does ETF accounts give you the ability to see real time prices on other stocks?