Easy Equities good or bad?

3WA said:
Is anyone actually on Thrive level 3? I did my deposits yesterday (1st Nov), and I smashed out like a million quizzes on Easy Academy, getting most questions right, but I'm still level 0.
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How did you manage to log in to easy Academy?
 
Speedster said:
How did you manage to log in to easy Academy?
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It wasn't easy. Had to register anew since the login credentials on the investment platform don't carry across.

But I don't see an option to link it to my investment account so maybe they use the email address or something...
 
3WA said:
It wasn't easy. Had to register anew since the login credentials on the investment platform don't carry across.

But I don't see an option to link it to my investment account so maybe they use the email address or something...
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I managed to do a password reset (selected forgot my password), and completed the monthly lecture. It's not reflecting on my thrive profile yet but I guess it takes a bit of time to update. Anyway, it looks like the lecture only gives one level. The other levels require using some of their other products which I'm not really interested in. R1 a month it will be.
 
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I completed all the Academy courses when I initially joined EE, yet my Thrive level is apparently 0.
How can we be expected to pay if the promise made was always for a free platform, as their website still seems to suggest, and if the platform doesn't work correctly, e.g. Thrive level not recording my completion status?

BS tactics like this do nothing to instill confidence.

Irrespective of the amount, if you move from free to paid, it automatically propels your platform into competition with paid competitors. If I have to pay what was formerly for free, I'd rather take the opportunity to see what EE's competitors have to offer.
 
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.
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I really don't understand some people's violent reaction to this change. Yes, it could have been communicated and implemented better but honestly, a R25 fee that can easily be waived by most users by just doing what they would normally do every month is nothing.

I'm sure these same people that are bitching pay their bank hundreds of Rands every month to do sweet **** all with their money and would have to pay even more in fees in order for their bank to provide the same facility that EE does.
 
Merlin said:
I completed all the Academy courses when I initially joined EE, yet my Thrive level is apparently 0.
How can we be expected to pay if the promise made was always for a free platform, as their website still seems to suggest, and if the platform doesn't work correctly, e.g. Thrive level not recording my completion status?

BS tactics like this do nothing to instill confidence.

Irrespective of the amount, if you move from free to paid, it automatically propels your platform into competition with paid competitors. If I have to pay what was formerly for free, I'd rather take the opportunity to see what EE's competitors have to offer.
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Someone mentioned an investec backed free platform earlier. I can't remember the name, but this might be something to at least consider.
 
Pandarye said:
I really don't understand some people's violent reaction to this change. Yes, it could have been communicated and implemented better but honestly, a R25 fee that can easily be waived by most users by just doing what they would normally do every month is nothing.

I'm sure these same people that are bitching pay their bank hundreds of Rands every month to do sweet **** all with their money and would have to pay even more in fees in order for their bank to provide the same facility that EE does.
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It's the unilateral changing of the terms coupled with the extremely poor communication thereof. If they'd just said hey, free was great but isn't sustainable so we're introducing a monthly platform fee that would've gone down so much better. And yes, a large part of their marketing was based on the fact that there's no monthly fee, which has now changed.
 
Logged in now ... and I see this on my account :

1698905194562.png

Confirmation from EE now :

The R25 account fee is for the FULL EE portfolio (ofcourse with the exclusion rules for youngsters and seniors), not per account (Just FYI)
 
ny152 said:
It was https://nowclarity.com
Anyone have experience with it?
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Me - I started playing around with it last month, and was/am in the process of moving my EE USD stuff over - got tired of the transfer issues I had almost every month with EE, and them just brushing it off.

So far, my experience is mixed - its more stable than EE - but I think the web interface could be better, it seems its more built towards using the app. (I do find navigating around individual shares easier and faster than EE, EE has a better overall display - but - I'm still finding my feet)
 
xrapidx said:
Yes - last month was a largish desposit (more than R1) , half to USD - both accounts used to buy shares until the balance was zero, no sales, and no withdrawals.
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Ok then their allocation of thrive levels isnt done on the last day of the month.

That would mean everyone will get the R25 fee on 1st Dec unless they get their rewards from Oct sometime in Nov.

EDIT:
I usually deposit once a year (sometimes twice). I didnt do any deposits in Oct so my Nov reward will be earned next month.

I have no free cash in any of my accounts (besides the R1 I deposited yesterday lol). Im interested to see what they do in Dec
 
MidnightZA said:
Ok then their allocation of thrive levels isnt done on the last day of the month.

That would mean everyone will get the R25 fee on 1st Dec unless they get their rewards from Oct sometime in Nov
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No clue, hence the backlash around this half arsed attempt at charging a fee.

I mean my account has only been inflows for the last six months at least.

By the end of February, EasyEquities had 1.8 million registered clients, of which 831 082 were active. Its website shows that this number (for EE alone) is now in excess of 1.9 million.
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1.8m x R25 =R45m - Christmas bonuses for everyone at EE.

I'd love to know the legal standing on charging people who haven't been notified, on various social media platforms many people have not received a notification around the new charge, myself included.
 
Magandroid said:
I came across this article on the Moneyweb site today

Uproar as EasyEquities introduces convoluted monthly platform fee​

https://www.moneyweb.co.za/news/com...form-fee/?mc_cid=a9f68e267e&mc_eid=b47abae8fe
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Purple CEO Charles Savage likened the change to “being offered a free gym membership and the only thing you needed to do was walk into the gym once a month”.
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If you pay a gym membership do you also have to pay to use all of the individual equipment?
I've never been part of a gym before lol. The analogy doesnt seem like it matches the case here
 
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