Easy Equities good or bad?

Swa said:
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?
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I know for realtime pricing you pay a monthly fee .... (example PSG)
 
zerocool2009 said:
I know for realtime pricing you pay a monthly fee .... (example PSG)
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Yeah the ETF options you get it for free usually especially on a TFA. But don't know if there's a loophole you can get all share pricing. I know EE you could do the transaction first on the demo account but it's cumbersome.
 
Swa said:
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?
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You don't see the price of unit trusts either. It's operated more like that. The bulk buying they do is a "low cost vs unknown price" trade off.

Again, if you want something more advanced EE is the wrong platform. It's not meant for traders.

EDIT: The JSE requires platforms to pay per user accessing the live prices and obviously that cost will become yours. They also charge per trade so doing it in bulk (similar to FNB Share Saver, CoreShares etc) means a huge discount in price.
 
Hamster said:
You don't see the price of unit trusts either. It's operated more like that. The bulk buying they do is a "low cost vs unknown price" trade off.

Again, if you want something more advanced EE is the wrong platform. It's not meant for traders.

EDIT: The JSE requires platforms to pay per user accessing the live prices and obviously that cost will become yours. They also charge per trade so doing it in bulk (similar to FNB Share Saver, CoreShares etc) means a huge discount in price.
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Except that the low cost ETF options give you all that functionality. EE can't even provide what the big 4 does so cost isn't the factor. The JSE charges per published real time price. Some platforms have used this to their advantage to state that the price have moved x cents up or down since the delayed price without having to pay for this.
 
I agree with those who are frustrated with the pricing. A big frustration I have had with the platform is selling. I love EE, and so far the benefits of using them outweigh the frustrations, but there have been close calls. A big thing on my mind these last few months has been an alternative for the sake of the eggs in one basket thing, and the troubles I've had have only been a motivation.

Take their bundles as an example. I, the normal person, wants to ditch a bundle. So I take the value amount, and subtract the percentage costs + VAT for the transaction to see what I'll end up getting after selling. The numbers agree with me, so I sell. A few moments later, I get an email confirmation and I have received less. My maths was out by R20, but there have been many times that this has happened. Bitterly frustrating. Selling stocks and ETF's shouldn't be such a lottery.

I have also had an issue with another ETF I hold. It has been performing terribly, but I hold until I break even if I want to ditch something. I noticed this trend with it - it'll dip and stay bad for a couple of months, then jump for a day or two. I waited for it to jump, and decided I would sell when it did. It jumped, and I was pumped - would have got my money out of that dead loss and scored R300. I go to sell, but praise jibbers that I saw the selling price. It was about 50% less than the buying price. Not to mention that all the stats were horribly off (I would be losing a lot of money, yet the profit was listed at almost 6%). I am not pleased about this, more so because if I had sold, I would have been down by a fair amount of money, because I was lead on. I log a ticket with them and I'm told that it's indeed correct, but I called BS because it was showing I would have made a profit when I would have lost a lot of money instead. I point this out, again, and get told this:

In order to keep our costs low and make it an Easy experience, our EasyEquities platform is an execution system rather than an order entry system.

We are in effect an intermediary between our Investors and the exchange. As such, we have had to build certain ‘limits’ (transactional and daily) on the instruments we are able to offer, to ensure that when a client issues the purchase instruction on the website, that we are then able to go to the market and execute that exact trade.

Unfortunately you are obviously experiencing one of those limits on your attempts to buy / sell that particular share.

When you experience such a system limitation, you can call our trading desk for assistance and they can place the trade on your behalf.

When you call in, please ensure that you advise them that the reason for your call is that you have experienced such a limit on the platform, which is prohibiting you from buying or selling the desired value.
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This of course leads onto their support being slow and subpar IMO. I have bitched about that before.

EE is great for buying long term, but it is a pain when it comes to getting any idea of how much you're buying or selling something for.
 
Has anyone tried transferring money from their ZAR-> USD account using Easy FX?
How long does it usually take? I did a test transfer on Thursday, and its still pending :cautious:
 
What I do is open my IG trading account to see the real time price and then buy my shares on EE. Not all small caps are on IG but most JSE share prices are there
 
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nivek said:
Has anyone tried transferring money from their ZAR-> USD account using Easy FX?
How long does it usually take? I did a test transfer on Thursday, and its still pending :cautious:
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Took about 4 business days.
 
Out of interest, do the same errors that happen on EE happen on GT247? I was going to open an acount with them, but might go with someone else after reading all this.
 
mr_norris said:
I agree with those who are frustrated with the pricing. A big frustration I have had with the platform is selling. I love EE, and so far the benefits of using them outweigh the frustrations, but there have been close calls. A big thing on my mind these last few months has been an alternative for the sake of the eggs in one basket thing, and the troubles I've had have only been a motivation.

Take their bundles as an example. I, the normal person, wants to ditch a bundle. So I take the value amount, and subtract the percentage costs + VAT for the transaction to see what I'll end up getting after selling. The numbers agree with me, so I sell. A few moments later, I get an email confirmation and I have received less. My maths was out by R20, but there have been many times that this has happened. Bitterly frustrating. Selling stocks and ETF's shouldn't be such a lottery.

I have also had an issue with another ETF I hold. It has been performing terribly, but I hold until I break even if I want to ditch something. I noticed this trend with it - it'll dip and stay bad for a couple of months, then jump for a day or two. I waited for it to jump, and decided I would sell when it did. It jumped, and I was pumped - would have got my money out of that dead loss and scored R300. I go to sell, but praise jibbers that I saw the selling price. It was about 50% less than the buying price. Not to mention that all the stats were horribly off (I would be losing a lot of money, yet the profit was listed at almost 6%). I am not pleased about this, more so because if I had sold, I would have been down by a fair amount of money, because I was lead on. I log a ticket with them and I'm told that it's indeed correct, but I called BS because it was showing I would have made a profit when I would have lost a lot of money instead. I point this out, again, and get told this:



This of course leads onto their support being slow and subpar IMO. I have bitched about that before.

EE is great for buying long term, but it is a pain when it comes to getting any idea of how much you're buying or selling something for.
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I believe what you're talking about here is called "spread" in the industry. It's a problem with lower-volatility instruments - i.e. ETFs (and even shares) that are not bought and sold as much.

I tend to stick to ETFs with much lower spread, i.e. difference between bid and offer price.
 
Also, be careful when trading shares that don't trade often. This is where you will find big discrepancies between BUY and SELL prices -- (on EE platform)
 
BlockingThePass said:
Any one got some cheap shares they recommend?
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This is the thread for that:

Stock Watch [Disclaimer: "by non-registered amateurs"]

This is a thread for tips on what is hot on the JSE and what's not. Essentially for all us EasyEquities.co.za lovers and the rest. It's a way we can measure, "teach" and share what's going on in our portfolio's atm, what stocks we are interested in and so forth. The idea started here...
mybroadband.co.za mybroadband.co.za

Hasn't been active in a while though.
 
Bincx said:
Also, be careful when trading shares that don't trade often. This is where you will find big discrepancies between BUY and SELL prices -- (on EE platform)
Click to expand...
And don't trade In the early morning or late afternoon, spreads could be higher then afaik
 
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