Easy Equities good or bad?

Anyone got a contact number for these guys? It's impossible to find on their website!
 
Chris_the_Brit said:
I've had a few of the shares added successfully - some took a few months like Draft Kings, but some others were really fast. Hoping they add AirBnB soon - it will list in the US this Thursday. One of the hottest IPOs this year!
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Aribnb is listed, not sure when they added it
 
So after using their service since basically the beginning. Here is my review of EasyEquities:
The good:
  • They are cheap (but in a sense you get what you pay for with regards to customer support)
  • You can buy fractional shares
  • They keep expanding and innovating, which is nice
  • Easy to use UI, for the most part, some things feel clunky.

The bad. They need to work on the basics to give more peace of mind, such as:
  • Customer service and support, anything beyond an easy support request basically never gets resolved, even with repeated promises that it will get fixed. I have lost money due to issues caused by EasyEquities, with promises of it will be fixed, but still nothing, even when giving them multiple possible solutions for fixing it.
  • Pray that nothing goes wrong on your TFSA, because it seems customer support cannot really touch your TFSA, they claim they will fix it, but fast forward months and nothing gets fixed on your TFSA.
  • No ISO compliance, it seems anyone working at EE has access to info on your account, which is not okay for a company working with money. They need to implement proper procedures, or just get ISO 27001 certified in the first place, for that extra peace of mind.
  • Many maintenance downtimes, maybe EE should upgrade their systems so that they can do rolling releases without any downtime. That said, there are many parts of their system that makes me question the underlying systems powering EE.
 
Alien333 said:
Pray that nothing goes wrong on your TFSA, because it seems customer support cannot really touch your TFSA, they claim they will fix it, but fast forward months and nothing gets fixed on your TFSA.
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Is there a story behind this? I'm curious to hear it, because I also have my TFSA with them.
 
sandwitch said:
There's an EE employee/big boss on here, right? Whoever it is, thank you!

I posted a couple of weeks ago that I was as confused about the dividends payout. Some of my dividends had paid out instead of reinvesting and I couldn't figure out why because I'd originally selected the global option of dividend reinvestment. Now EE has put an extremely easy to find dividends payout option on each of my holdings on the Account Overview page so I can easily select what I want done with each investment :love:.
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Tell me - do you know if the fees they charge from this option is the exact same fees as I would pay if I re-invested them myself?
 
TheJman said:
Tell me - do you know if the fees they charge from this option is the exact same fees as I would pay if I re-invested them myself?
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I don't know... I'd assume it depends on how much you've invested?
 
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So Easy Equities: I know it's Xmas Day but some things should be automatic: buying a voucher for someone for instance.

Telling someone to deposit more withdrawable funds into the account to buy the voucher makes sense. But making those funds unwithdrawable too, doesnt.

If you're going to go into full shut-down for Xmas Day please shut down your website with a happy Xmas message and give people adequate, prior warning.

[Edited to add] Also, give people the option for a date when a gift voucher will be sent out rather than having it go out automatically straight away.
 
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TheJman said:
Tell me - do you know if the fees they charge from this option is the exact same fees as I would pay if I re-invested them myself?
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Interesting... Would love to know this as well. Also, if we use the option to re-invest the dividend would that mean that we would not pay a dividend tax?
 
diapason said:
The company has paid the dividend so the withholding tax will come off. What you do with the dividend is irrelevant for tax purposes.
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Cool, then the question that is remaining, do we incur fees from EE if we want the dividends reinvested? Similar to total return ETFs where the cost of "re-investment" is saved.
 
Scooby_Doo said:
Cool, then the question that is remaining, do we incur fees from EE if we want the dividends reinvested? Similar to total return ETFs where the cost of "re-investment" is saved.
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I doubt that there would be any difference from just reinvesting yourself. The value is the convenience. I use Easy equities for long term investment. I picked an allocation and I log in every 6 months or so to adjust. Great not to have to manually reinvest dividends.
 
newby_investor said:
I doubt that there would be any difference from just reinvesting yourself. The value is the convenience. I use Easy equities for long term investment. I picked an allocation and I log in every 6 months or so to adjust. Great not to have to manually reinvest dividends.
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Depends on if there is a minimum fee when investing. Then it would depend on the value of the dividend.

No use in spending $1 in fees when the dividend is $5.
 
TheJman said:
Tell me - do you know if the fees they charge from this option is the exact same fees as I would pay if I re-invested them myself?
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There is no difference in terms of cost, it's just for convenience. See the non-elective events section here.

I am very puzzled. I thought I answered this last night but it looks like I forgot to hit post reply
 
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