Easy Equities good or bad?

You can buy all the etf you want using easy Equities. This means you escape the quarterly Admin fee aos (etfsa) charges. I still have to move but for me that is R700 p.a.
 
Just got a mail from EE. They will be launching a tax free savings account.

I wonder if this will allow small fry like myself to not be worried about tax :love:
 
konfab said:
Just got a mail from EE. They will be launching a tax free savings account.

I wonder if this will allow small fry like myself to not be worried about tax :love:
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Remember TFSA doesn't apply to direct share purchases.
 
Galactica said:
Remember TFSA doesn't apply to direct share purchases.
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Helena Conradie, chief executive officer of Satrix, says all Satrix products will be available as tax-free savings accounts.

The focus is on its flagship funds – Satrix 40, Satrix Balanced, Satrix Low Equity Balanced and Satrix MSCI World Equity.

Fees (excluding VAT) are 0.45% for Satrix 40, 0.6% for Satrix Balanced, 0.6% for Satrix Low Equity and 0.5% for Satrix MSCI World.

All the other ETF funds charge 0.4% except the Rafi, which has a fee of 0.46%. The other unit trust fees are 0.45% except for Rafi, which has a fee of 0.6%.

For unit trusts the minimum monthly debit order is R500 and the minimum lump sum is R10 000.

For ETFs it is R300 and R1 000 respectively.
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Source

It will probably be similar to this, but at lower rates.
 
Newbie questions regarding dividends

I purchased MTN shares 2 weeks ago, Their LAST TRADE DAY (LDT) was on Friday 20-03-2015, I then sold all the MTN shares on Monday 23-03-2015,their PAY DATE is 30-03-2015. Do I qualify for the dividend payment or should I have held the shares until the dividend was paid?
 
czc said:
It's because of the Fractional share rights? Cause otherwise I ain't bought nothing on borrowed money.
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I have no idea. If somebody can explain it that would be great.
 
Ndanileka said:
Newbie questions regarding dividends

I purchased MTN shares 2 weeks ago, Their LAST TRADE DAY (LDT) was on Friday 20-03-2015, I then sold all the MTN shares on Monday 23-03-2015,their PAY DATE is 30-03-2015. Do I qualify for the dividend payment or should I have held the shares until the dividend was paid?
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You don't have to keep it till pay date, as long as it have it until LDT. The shares would have come down to an amount similar to the dividend yesterday.
 
Freaksta said:
Anyone following up on this? If they can let us know via this thread!
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I think it was a system error. They charged "FundingPlus" fees yesterday which resulted in a negative cash balance in my account. However, these charges were reversed this morning so everything is back to what it should be.
 
Yup, I also got a margin call, for the Greece debt crisis level of R2.

I suppose it is teething issues.
 
We had a system problem last night and incorrectly charged accounts resulting account to be in Margin call.. This has been reversed. We will send out communication shortly.

Regards
Lola
 
Thor187 said:
We had a system problem last night and incorrectly charged accounts resulting account to be in Margin call.. This has been reversed. We will send out communication shortly.

Regards
Lola
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Jeez. That is going to scare a lot of newbie investors, i can imagine the phones going off the hook. I had to go Google margin call then i realised it was probably an issue, but deposited money in the account just to be safe.
 
Got their email now.

Hi czc

We have been working furiously in the background to bring about new products and features to our EasyEquities platform to support National Treasury’s Tax Free Savings initiative.

In doing so, we have charged your account with an amount in error, described as “FundingPlus for instrument XYZ” on your statement. We have already reversed this charge this morning, which will be reflected on your statement as “Reversal FundingPlus for instrument XYZ.

As a result of the erroneous charge being made to your account would have received an email informing you that you are on MARGIN CALL and owe us money. This is not the case, so please ignore the email.

We apologise for the inconvenience and worry this may have caused.

The EasyEquities Team
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Has anyone here tried selling on EE? I am getting "Trade Unsuccessfull:null". There is something fishy going on EE.
 
Thor187 said:
I sold a lot last week.
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Thanks. Perhaps you can help based on your experience please. So, I click on Sell and my current holding is 6000 rands. Trade value automatically populates with 2000. Does it mean I am trying to sell 2000 rands of shares or does it mean I am selling my current holdings for 2000 rands?
 
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