Easy Equities good or bad?

Email sent, i will keep this thread up to date with how the transfer process goes for anyone else that is interested.
 
Freaksta said:
Email sent, i will keep this thread up to date with how the transfer process goes for anyone else that is interested.
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Awesome, I will also give EE a proper chance and transfer some securities to them. I like easy and cheap :D
 
I've initiated my transfer from Absa Stockbrokers to EE as well, today. Will let you guys know all costs and hassles involved.
 
So something I noticed when testing EE, there is no option to say what happens to dividends? With all the other brokers they give you the option to re-invest the divs or payout.

Anyone know whats up with that?
 
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adidas said:
So something I noticed when testing EE, there is no option to say what happens to dividends? With all the other brokers they give you the option to re-invest the divs or payout to your broker account.

Anyone know whats up with that?
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Nevermind, looks like it will be paid out to your account. Under their FAQ:

"- Do I receive dividends for my Fractional Share Rights?
Yes. Dividends are paid out on whole shares as well as the fractional share rights. The dividend paid on fractional share rights, is based on the fraction of the security which is the underlying reference instrument of the CFD transaction."
 
Do you know if you use your credit card to fund your EE account, do you get rewards for that transaction?

If I get the normal 1% rewards, it would more than cover then EE costs and it would mean you buy the shares without any cost.
 
Renier said:
Do you know if you use your credit card to fund your EE account, do you get rewards for that transaction?

If I get the normal 1% rewards, it would more than cover then EE costs and it would mean you buy the shares without any cost.
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Which card do you have?
 
Ok, forgot there is a R1.60 + 0.23% credit card fee on EE itself. But still on big enough amounts that should be less than the 1% rewards.
 
Renier said:
Ok, forgot there is a R1.60 + 0.23% credit card fee on EE itself. But still on big enough amounts that should be less than the 1% rewards.
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Yeah, if you do a R5000 investment each month, the costs will be less than R30 (incl CC fees, brokerage etc) and you'll get R50 back in rewards :D
 
adidas said:
Yeah, if you do a R5000 investment each month, the costs will be less than R30 (incl CC fees, brokerage etc) and you'll get R50 back in rewards :D
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CORRECTION:
Cost breakdown for R5000 (using CC to fund):
CC Fee: R13.10
broker commission: R12.50
settlement and administration: R3.75
investor protection levy (ipl) and administration: R0.01
value-added tax: R2.28
securities transfer tax and administration: R12.50

TOTAL = R44.14
 
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My transfer from ABSA stockbrokers to Easy Equities was completed this morning.

Just beware. The transfer cost is R170 per share transfer. I held 7 different shares so paid up R1190. Quite a shock. I thought it would be R170 for the portfolio, but alas, not so fast. It seems that this is the Computershare transfer cost, independent from ABSA Stockbrokers so probably everyone (I think?) will be paying this price.

Still have to see if ABSA will charge me their annual fee.
 
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