Easy Equities good or bad?

terencej said:
It does not sound great as a trading platform. Its pretty good as an investment platform.
Know the difference.
Click to expand...
Again I differ, EE does nothing well. They are also not cheap by any standard. Internationally they are about the price of a full fledged trading platform with none of the functionality. If you buy a few k in different shares every month the platform is marketed to you but more than R5k of a share and you're actually not saving any more.

I think crypto has shown the world what can be done, cutting edge functionality at a cheap price. Just because EE is "cheap" by SA standard is no excuse for poor quality.
 
Bincx said:
On all occasions, I complained and then they wipe the trade and reverse all costs. I'm still not sure how they simply reversing these transactions...
Click to expand...
It is not possible to reverse transactions that have taken place on the JSE. Transactions take place the very second that there is a match between bid and offer prices for a specific share. Multiple buyers may bid for shares offered by a single seller, and vice versa. Buying or selling orders may be cancelled at any time if not filled. The portion of orders that is partially not filled may also be cancelled.

If a transaction appears to be reversed, the implication is that the transaction never took place to begin with, thus the order was not yet submitted to the JSE real-time trading system.
 
TeMoeg said:
It is not possible to reverse transactions that have taken place on the JSE. Transactions take place the very second that there is a match between bid and offer prices for a specific share. Multiple buyers may bid for shares offered by a single seller, and vice versa. Buying or selling orders may be cancelled at any time if not filled. The portion of orders that is partially not filled may also be cancelled.

If a transaction appears to be reversed, the implication is that the transaction never took place to begin with, thus the order was not yet submitted to the JSE real-time trading system.
Click to expand...

Yup, I understand the above. They doing something funny behind the scenes. In my case, the transaction was reversed over a month later (poor response time during lockdown). I even received dividends in the one instance. They reversed the original purchase but not the resultant dividends. They must have internally taken the 'knock'
 
  • Haha
Reactions: 3WA
Swa said:
Again I differ, EE does nothing well. They are also not cheap by any standard. Internationally they are about the price of a full fledged trading platform with none of the functionality. If you buy a few k in different shares every month the platform is marketed to you but more than R5k of a share and you're actually not saving any more.

I think crypto has shown the world what can be done, cutting edge functionality at a cheap price. Just because EE is "cheap" by SA standard is no excuse for poor quality.
Click to expand...

I don't think it is fair to compare them to international offerings as these are not easily accessible to the ''lay man'' on the street.
Similarly most people don't understand crypto (including myself).
Their market is young, introductory investors -- those looking to start up and looking for something affordable. I would think the bulk of their customers are purchasing R5000 or less worth of shares at a time. Maybe even a few hundred at the time.

For these sort of trade/investing, what other alternatives are there that people can easily understand?
 
Swa said:
Again I differ, EE does nothing well. They are also not cheap by any standard. Internationally they are about the price of a full fledged trading platform with none of the functionality. If you buy a few k in different shares every month the platform is marketed to you but more than R5k of a share and you're actually not saving any more.

I think crypto has shown the world what can be done, cutting edge functionality at a cheap price. Just because EE is "cheap" by SA standard is no excuse for poor quality.
Click to expand...
Do you have a better suggestion for TFSA?
 
Bincx said:
I don't think it is fair to compare them to international offerings as these are not easily accessible to the ''lay man'' on the street.
Similarly most people don't understand crypto (including myself).
Their market is young, introductory investors -- those looking to start up and looking for something affordable. I would think the bulk of their customers are purchasing R5000 or less worth of shares at a time. Maybe even a few hundred at the time.

For these sort of trade/investing, what other alternatives are there that people can easily understand?
Click to expand...
I don't think "fairness" should apply. As usual we are paying through our noses for something simple that should cost pennies simply because of legislated monopolies.

Speedster said:
Do you have a better suggestion for TFSA?
Click to expand...
ABSA perhaps?
 
Swa said:
I don't think "fairness" should apply. As usual we are paying through our noses for something simple that should cost pennies simply because of legislated monopolies.
Click to expand...

Agreed, but until this bigger issue is resolved, i personally think EE is a good choice.
I'm not sure of many other places, if any, that will allow me to purchase R500 in a single share or ETF with a transaction cost of approx. R3.00
So in this context, it is cheap! I'm not sure if anyone is cheaper in SA.
It has its limitations, but you get what you pay for.
 
Daniel63 said:
Morning guys

I think this might be very useful for those trying to compare the fee structure across the various trading platforms in SA:

Broker Comparison

It has actually been developed by a fellow forum member. I bumped into it whilst browsing some of the other threads.

Happy hunting:)
Click to expand...
Awesome thanks
 
Daniel63 said:
Morning guys

I think this might be very useful for those trying to compare the fee structure across the various trading platforms in SA:

Broker Comparison

It has actually been developed by a fellow forum member. I bumped into it whilst browsing some of the other threads.

Happy hunting:)
Click to expand...
This is brilliant!! Thanks. EE cheapest by far. There's definitely issues that they need to fix, but for long term investing, they're the best and cheapest
 
Bincx said:
Yup, I understand the above. They doing something funny behind the scenes. In my case, the transaction was reversed over a month later (poor response time during lockdown). I even received dividends in the one instance. They reversed the original purchase but not the resultant dividends. They must have internally taken the 'knock'
Click to expand...
Sorry to hear about your loss. Scammers such as these should be prohibited by legislation from doing business in SA. Unfortunately our government is more busy with banning cigarette sales, and therefore do not have the time to protect the other more important interests of its citizens.
 
TeMoeg said:
Sorry to hear about your loss. Scammers such as these should be prohibited by legislation from doing business in SA. Unfortunately our government is more busy with banning cigarette sales, and therefore do not have the time to protect the other more important interests of its citizens.
Click to expand...
I think you understood that wrong. It wasn't a loss for him, it was a win. He got the transaction reversed, got his money back and got to keep the dividends.
 
R4m80 said:
I think you understood that wrong. It wasn't a loss for him, it was a win. He got the transaction reversed, got his money back and got to keep the dividends.
Click to expand...
Ok, sorry about that. However I still think it would be a good idea to have regulations stipulate the minimum standards to which trading platforms have to conform to.
 
R4m80 said:
I think you understood that wrong. It wasn't a loss for him, it was a win. He got the transaction reversed, got his money back and got to keep the dividends.
Click to expand...

I would call it a ''draw'' :p
Yes I did get my money back and got to keep the dividends, but at the same time I didn't get the share at the lower price. I eventually purchased it again at a higher price.
I asked them for an explanation of how this happens and how to avoid in future, it basically came down to lack of open offers for the share so it eventually matches at a higher price.
For me, this is probably the biggest draw back of EE at the moment i.e. purchasing the less common shares/EFTs as you can't set a price or cap (max cents per share) on the trade.

With the more common shares, no issues on my side.
 
juggernaut11 said:
Saw it as well, looks great. Only issue I have with it, is that there aren't any dividends.
Click to expand...

Yup. I'm also unfamiliar with the companies besides the top 2. I've sent an email to a friend who works in a China for some info regarding the other companies.
 
From the email I received:

You need to make sure you stake your claim in the Satrix MSCI China ETF IPO before the closing date 23h59 Tuesday, 14 July 2020.


Important Dates:


For each rand you invest, you will receive 1 Letter of Allotment (LA) which will be credited to your EasyEquities account on Thursday, 16 July 2020. Think of the LA as a record of the amount that you are willing to invest, until the conversion is announced and the actual shares in ETF/s are credited to your account.


On Wednesday, 22 July 2020, the official listing date for the Satrix MSCI China ETF, those LA’s will be removed from your EasyEquities account and your account will be credited with the new shares accordingly.
Click to expand...
 
I got paid out in my TFSA from dividends from my Coreshares Global Divtrax. Which is odd because I'm sure I signed up for automatic reinvestment.

Does anyone know where that option is so I can choose it again? I've contacted Easy Equities but I think I'd get more of a response shouting into a black hole.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X