Easy Equities good or bad?

zerocool2009 said:
Ok... let me bet you your usd portfolio.

Put R1 in... zero R25 fee

I have double what you have in yours.

So want to speculate/gamble?
Click to expand...
Are you five?

Congratulations on having double on a small trading platform.

You also have 20 properties if I remember correctly.

Considering they only recently announced this change, and don't list the rules clearly anywhere - you actually do not know.
 
Apart from the finding option, what else can one do to become a level 3 Thrivalist?
 
Everything dodgy about the whole thing. R25 sub fee and they sell your shares to cover the cost if you don’t have it available in your balance lol.

Most likely closing my account but leaving the child account with her stuff. Will see how things go as CEO talking to Simon Brown tomorrow
 
Last edited:
Well, its an easy financial bonus for the company, assuming this year old article:
www.businesslive.co.za

EasyEquities active retail client base surges 50%

Platform will launch more products over the next few years, says CEO
www.businesslive.co.za www.businesslive.co.za

Purple Group, the owner of popular trading platform EasyEquities, increased its active retail client base 50% to 763,233 in the year to end-August despite the recent turbulence in global markets and the cost-of-living crisis.
Click to expand...

So they have a potential not so active client base of 400k - that's already 10m a month, add another 2,5m for a 100k of the active base that probably aren't active each month (thumb suck) - an extra R12,5m per month instantly.
 
  • Like
Reactions: 3WA
I'm trying to do the EE Academy thing but can't login to the portal using my EE credentials. Do I somehow need to register on the EE Academy thing, and then how do I link that registration to my EE account?
 
xrapidx said:
Are you five?

Congratulations on having double on a small trading platform.

You also have 20 properties if I remember correctly.

Considering they only recently announced this change, and don't list the rules clearly anywhere - you actually do not know.
Click to expand...

I am super fine. Thanks for asking. Open up thrive options. As jy kan lees kan jy presteer ... ne

Look at what I asked EE, its in thd thrive rules. If you deposit any money, its level 3 instantly.

I did a few more OTP’s, you are actually behind in my count.

Its in black and white
 
Screenshot from someone on twitter from a chat with EE apparently saying it includes TFSA when they take control and sell your shares. As it's twitter, I'd obviously confirm that directly rather but if this is the case... how is this legal? You can't put back in a TFSA once it's taken out, so they will cost you your long term investment in your TFSA.

https://twitter.com/x/status/1719739865472868530
 
zerocool2009 said:
I am super fine. Thanks for asking. Open up thrive options. As jy kan lees kan jy presteer ... ne

Look at what I asked EE, its in thd thrive rules. If you deposit any money, its level 3 instantly.

I did a few more OTP’s, you are actually behind in my count.

Its in black and white
Click to expand...

Great, so I'm withdrawing R50k - and deposting R1... I'll avoid the the fee according to your reading and applied
logic.

Also, why then am I thrive level 0 when I had a R500 TFSA deposit go off?
 
Last edited:
backstreetboy said:
You can disable every account except the main ZAR one. Useless clowns.
Click to expand...
Yup... noticed that. Also someone mentioned the tax liability clause was added as well. This smells. Luckily I smelt it a year or so ago when I stopped with them after other questionable actions of theirs.
 
xrapidx said:
Well, its an easy financial bonus for the company, assuming this year old article:
www.businesslive.co.za

EasyEquities active retail client base surges 50%

Platform will launch more products over the next few years, says CEO
www.businesslive.co.za www.businesslive.co.za



So they have a potential not so active client base of 400k - that's already 10m a month, add another 2,5m for a 100k of the active base that probably aren't active each month (thumb suck) - an extra R12,5m per month instantly.
Click to expand...
You missed the recent Telkom Digital Wallet deal they did where Telkom gives new users R50 to invest.... I guess all those users just donated...

https://www.biznews.com/sponsored/2023/06/01/easy-equities-telkom-pay
 
Last edited:
xrapidx said:
Great, so I'm withdrawing R50k - and deposting R1... I'll avoid the the fee according to your reading and applied
logic.

Also, why then am I thrive level 0 when I had a R500 TFSA deposit go off?
Click to expand...

Instead of attacking other forum members that are trying to help. Try reading the thrive page yourself.

It clearly says "deposit more than you withdraw"

Most people don't withdraw 50k a month from a long term savings account. I would think most people would withdraw R0, so R1 would meet the criteria to reach level.

If you read a little more, then you'll see thrive level earned for the current month is rewarded in the following month.

I have no clue on what's going to happen on 1st Dec. My guess is everyone that's currently on level 0 will be charged the R25, unless they consolidate the levels before they initiate the charge.
 
Last edited:
MidnightZA said:
Instead of attacking other forum members that are trying to help. Try reading the thrive page yourself.

It clearly says "deposit more than you withdraw"

Most people don't withdraw 50k a month from a long term savings account. I would think most people would withdraw R0, so R1 would meet the criteria to reach level.

If you read a little more, then you'll see thrive level earned for the current month is rewarded in the following month.

I have no clue on what's going to happen on 1st Dec. My guess is everyone that's currently on level 0 will be charged the R25, unless they consolidate the levels before they initiate the charge.
Click to expand...
I'm not attacking anyone. I obviously read what it says.

I'm not the one repeatedly posting that you only have to deposit money to avoid the fee.

As you said, you have no idea what's going to happen on the 1st of December. Neither does someone who keeps going on that you only have to deposit R1 to avoid the fee. You could deposit R1 and withdraw R2 and pay the fee.

Helping people is not done by spewing thumbsucked information, or partial information - the people this will most likely affect are the people who can't afford R25pm.
 
Last edited:
xrapidx said:
I'm not attacking anyone. I obviously read what it says.

I'm not the one repeatedly posting that you only have to deposit money to avoid the fee.

As you said, you have no idea what's going to happen on the 1st of December. Neither does someone who keeps going on that you only have to deposit R1 to avoid the fee. You could deposit R1 and withdraw R2 and pay the fee.

Helping people is not done by spewing thumbsucked information, or partial information - the people this will most likely affect are the people who can't afford R25pm.
Click to expand...

Easy Equities confirmed, if you deposit R1 and withdraw nothing you will be ok. I even took a bet for you with $5000 plus, but still you think its BS

Go on twitter and read some of EE comments.

I can clearly read. In 7 years, I didnt withdraw 1c

Can i refund you R25 if what the rule is failed? Or just in plain english, stop to panic ffs
 
xrapidx said:
I'm not attacking anyone. I obviously read what it says.

I'm not the one repeatedly posting that you only have to deposit money to avoid the fee.

As you said, you have no idea what's going to happen on the 1st of December. Neither does someone who keeps going on that you only have to deposit R1 to avoid the fee. You could deposit R1 and withdraw R2 and pay the fee.

Helping people is not done by spewing thumbsucked information, or partial information - the people this will most likely affect are the people who can't afford R25pm.
Click to expand...

His information was not thumbsucked. Its all on their site and he did post that you have to deposit more than you withdraw.

IMO theres 2 types of users that will be on EE.

The first (and less common) is the a frequent trader that makes an income from trading. This person will withdraw frequently (daily, weekly, monthly etc). If they get an income from trading then obviously they will have to withdraw more than they deposit. They will have to pay the fee

The second type will be the people who are investing to reach certain goals. These people will not withdraw frequently so the deposit of R1 rule will be true for them. These investors will probably only withdraw on 3 occasions; reaching their financial goal (deposit for car/house, children's education, saving for holiday etc.), retirement, and emergencies. Thats probably a handful of times I see the withdraw amount being grater than the deposit amount if you deposit R1.

If people cant afford the R25pm, then dont withdraw monthly and deposit R1 monthly, and only pay R12 per year. You can find more than R12 per year on the floor of a parking lot.
 
MidnightZA said:
His information was not thumbsucked. Its all on their site and he did post that you have to deposit more than you withdraw.

IMO theres 2 types of users that will be on EE.

The first (and less common) is the a frequent trader that makes an income from trading. This person will withdraw frequently (daily, weekly, monthly etc). If they get an income from trading then obviously they will have to withdraw more than they deposit. They will have to pay the fee

The second type will be the people who are investing to reach certain goals. These people will not withdraw frequently so the deposit of R1 rule will be true for them. These investors will probably only withdraw on 3 occasions; reaching their financial goal (deposit for car/house, children's education, saving for holiday etc.), retirement, and emergencies. Thats probably a handful of times I see the withdraw amount being grater than the deposit amount if you deposit R1.

If people cant afford the R25pm, then dont withdraw monthly and deposit R1 monthly, and only pay R12 per year. You can find more than R12 per year on the floor of a parking lot.
Click to expand...
Yup, I'll be depositing R1 per month henceforth.

Fortunately my kids' TFSAs are exempt.
 
xrapidx said:
You mean until they change the rules as per T&Cs... :D
Click to expand...
Correct. And if they keep changing the rules in pretty sure another platform will spring up to take their place and I'll move my TFSAs there. But for now this is an acceptable inconvenience
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X