Easy Equities good or bad?

Only heard of this platform fee dressed up as a rewards program this morning. What a load of bullshit. Like many, i dont mind paying a platform fee, but this crap undermine their customers intelligence.

How do I now refer anyone to this company that resorts to these scummy tactics??

Saying they do not give financial advice but then force you to buy carefully pre-curated bundles to qualify for rewards? How is this not seen as market manipulation?

I doubt they have enough training material to sustain a long term investor so you'll be forced to either refer (ponsi scheme tactics) or buy their preferred packages?

(Yes I read about the R1 transfer thing but how long do you think they'll allow that if they are capable of the above)

Come out of the damn closet EE. Be staight with us and we'll keep on trusting you. Dont do this crap.
 
marzz said:
How do I now refer anyone to this company that resorts to these scummy tactics??
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Sadly, I stopped doing this long ago. Couldn't recommend them in good faith after the CEO was on Twitter saying they have no plans to implement 2FA as it doesn't help security.

They did it only after being called out online. Same as the Ts&Cs switcharoo.
 
Digilus said:
I am still super curious how they can go about disposing of *your* assets (selling shares) - then taking brokerage fee on the sale - and then dipping into the proceeds? That is tantamount to the bank just selling your car or house if you fall a day or two behind in payments - no court order, no nothing. Plus, they benefit from it (as in they make money from the fees when selling the assets too).

Next up , Checkers or Pick N Pay charging R50 for the honor of having a savings card - unless you make a minimum spend of R500 (yeah just being silly with the numbers - but a mandatory loyalty program that they can then change willy-nilly ... opens up some nice revenue opportunities for *any* business that has a loyalty program)
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How do you pay Advisor, Platform and other fees on your RA, Pension or Unit trusts?

Do you pay cash, or do they sell your investments?
 
btw enraged customers, what are the alternatives in ZA though?

expensive bank brokerages? can you transfer shares you hold with EE to another broker? (assuming even if you could any partial / portions of shares you hold would be a problem)
 
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NarrowBandFtw said:
btw enraged customers, what are the alternatives in ZA though?
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I think I am more annoyed with how they hide this platform fee behind Thrive BS than the actual cost. If I understand the new Thrive rules correctly I probably won't have to pay for anything.

I feel dirty saying it, but FNB's Shares Zero offering is what I use too, but in terms of buying and selling, it's worse than using EE. Only transaction costs from what I've seen.
 
NarrowBandFtw said:
btw enraged customers, what are the alternatives in ZA though?

expensive bank brokerages? can you transfer shares you hold with EE to another broker? (assuming even if you could any partial / portions of shares you hold would be a problem)
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You can

I moved all my TFSA (FNB ETF's), and Satrix (EFT's) to EE (by not selling, but only moving. It cost me R300 per portfolio to move!

Partial shares aint a problem at all. You move what you have from A to B
 
mr_norris said:
I think I am more annoyed with how they hide this platform fee behind Thrive BS than the actual cost. If I understand the new Thrive rules correctly I probably won't have to pay for anything.

I feel dirty saying it, but FNB's Shares Zero offering is what I use too, but in terms of buying and selling, it's worse than using EE. Only transaction costs from what I've seen.
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FNB woke up just before Covid when a massive amount of investors exited FNB (me included). As they charged a monthly fee. 3 month later, it came out (their TFSA is now for free)
 
zerocool2009 said:
I moved all my TFSA (FNB ETF's)
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oh how I wish I could find the magic elf at Capitec that might explain how I move TFSA from EE to the bank!

moved TFSA into 100% cash, it would earn higher interest at the bank, but it's stuck at EE in a money market type of ETF because nobody at Capitec seems to know

EE has a documented process for moving things "to" them at least, not sure about the moving "out" part
 
NarrowBandFtw said:
oh how I wish I could find the magic elf at Capitec that might explain how I move TFSA from EE to the bank!

moved TFSA into 100% cash, it would earn higher interest at the bank, but it's stuck at EE in a money market type of ETF because nobody at Capitec seems to know

EE has a documented process for moving things "to" them at least, not sure about the moving "out" part
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I am planning to maximize my TFSA's with Unit Trusts and ETF's. Once I hit my lifetime period, will move it all into an interest account aswell. Current I am standing on R303 000 contributed for 9 years, and current value R455 000
 
NarrowBandFtw said:
oh how I wish I could find the magic elf at Capitec that might explain how I move TFSA from EE to the bank!

moved TFSA into 100% cash, it would earn higher interest at the bank, but it's stuck at EE in a money market type of ETF because nobody at Capitec seems to know

EE has a documented process for moving things "to" them at least, not sure about the moving "out" part
Click to expand...

Just a note on interest bearing accounts related to TFSA. I know banks offer a nice starting rate. After 12 months, it drop like a brick! (so, watch out if you want to move)
 
I have not yet gotten the mail. Did any of you guys that did get the mail register via Discovery Bank?
 
Pegasus said:
Where is this?
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This was an answer to the question around how *other* investments work - with other providers eg. Discovery etc. I was just saying those people take their fees out of our monthly payments - and then the remainder of the monthly fee goes towards the RA itself. Versus the EE model where they imply they will sell your existing shares to cover their R25 cost.
 
zerocool2009 said:
I am planning to maximize my TFSA's with Unit Trusts and ETF's. Once I hit my lifetime period, will move it all into an interest account aswell. Current I am standing on R303 000 contributed for 9 years, and current value R455 000
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hmmm, good to keep track of what's been contributed I had to double check that now actually ... R273k over 8 years

problem being 63k of those contributions was in a eurostoxx ETF which tanked to the low 50k range before I decided stuff it, put it in TRACI / "money market", it has slowly clawed its way back to 61k

the remaining 210k went to the bank, now sitting at 256k

I have plenty of risky investments, decided my TFSA should effectively just be interest earning cash
 
Can we opt out of 'Thrive'?

I mean if it's a rewards program- then surely it's a Value Added Service?
 
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