Easy Equities good or bad?

Been delaying this for too long now.

Interested to make the move to EE.
Currently with both FNB Securities and Satrix (AOS).
With the lacklustre markets I've only been really adding to ETFs lately, and have learnt the lesson that there's no such thing as consistent out-performance. Cherry picking has not been good for my blood pressure :sick:

I'm not into frequent trading or leveraged positions etc.
Any reason why not to make the move?

How did transferring work out for those who did?

Any idea how I will be charged by FNB Securities and Satrix (AOS) for the transfer? Per share group/ETF held or for the whole lot as one single fee per broker relayed from the JSE?

Can dividends be automatically re-invested?

What about integration into 22seven? All good?

I read the thread until about page 10 and all seemed okay until that point.

Ownership:
Everyone happy with the way EE ring-fences the shares into FW Trader entity?
If this goes boom, will I have title to my shares, no issues?
 
acp said:
Been delaying this for too long now.

How did transferring work out for those who did?
Click to expand...
transfer fee's to them is dependent only on your current broker. however, i discovered today, that transferring away from them is a costly affair (even internally between EE accounts - eg from me to my mother) - roughly R150 per instrument


Dividends is unfortunately not automatically invested. it is paid into your broker cash account, after which you need to buy more shares. will require a monthly peek into the account.
 
Thanks for the feedback! Much obliged.

I'll kick-off with the TFSAs up to threshold for every ID'd individual in the household.
Then move on to transfer Satrix.
If the above goes well, I'll transfer FNB after a month or so.

I see EE can be funded from a credit card. Does this mean I can deposit 3 individual's TFSA annual max i.e. R90k via credit card and earn the eBucks on it? In theory it should...
In that case, the transaction should actually make me money as opposed to cost me money... Unless I'm missing something.

and this might be slightly off-topic, please re-direct me if you know of a more appropriate active thread for this:

TFSA: thinking of 50% DBXWD + 50% BBET40 (yes, Simon Brown's recipe).
Or maybe 50% DBXWD + 25% BBET40 + 25% STXIND (think IND might be a little hot atm, but nevertheless a solid performer)

On the topic of the CC... Simulated a funding instance - I think my question is answered...

Capture.jpg
 
Last edited:
Two more things:

For spouses and dependants - do I have to open separate EE account each in order to get the TFSA account for each?
Or can multiple TFSAs be linked under my main account?
If a dependant is under-aged (no ID book, no TAX number), how does one go about this?
 
acp said:
Two more things:

For spouses and dependants - do I have to open separate EE account each in order to get the TFSA account for each?
Or can multiple TFSAs be linked under my main account?
If a dependant is under-aged (no ID book, no TAX number), how does one go about this?
Click to expand...
Each person, whether adult or minor, needs his own account.

I asked them the exact same question and this is the response:
Thank you for your query.



Account opening for minors is a manual process for the time being, Please complete the attached application form and send us the following FICA.

· Application form, (See attached)

· Co Habitation form, for proof of address (See attached)

· Proof Of bank account in the child’s name

· Copy of ID of the guardian

· Copy of Birth Certificate

· Consent forms (See attached)

Once you have all of the above please forward it to [email protected] and we will open the account for you.



Kind Regards
Click to expand...

Further research shows that you will also not be able to withdraw to from these accounts to a different bank account than the one you've FICA'd with them. So you need to keep the bank account open for the life of the investment. So if you open an account for your kids, make sure to deposit a few bucks into the actual bank account as well to keep it open.
 
YingYang said:
Further research shows that you will also not be able to withdraw to from these accounts to a different bank account than the one you've FICA'd with them. So you need to keep the bank account open for the life of the investment. So if you open an account for your kids, make sure to deposit a few bucks into the actual bank account as well to keep it open.
Click to expand...

Excellent - thanks!

So the dependant HAS to have a dedicated bank account?
I cannot use my own until they choose to have theirs? If I'm the legal guardian/parent, why can I not use my own account?
After all, the plan is obviously to invest and leave ALL of it IN the TFSA, and NOT to cash-out unless god-forbid, one needs it for an emergency. Said dependant can decide one day whether to link his/her own bank account to it to withdraw, which hopefully they will also not have to do, ever.

And if there's no other way than dedicated bank account: cheapest way to achieve this where bank fees won't become an issue and eat into the growth?
 
Neo_X said:
this is a first...
Cant remember if i withdrew money before, but upon selling a few shares today, and trying to draw the cash i was presented with the following :



so basically i have to wait 10 days - which by then my car settlement quote etc will no longer be valid. Does anyone know if other broker-platforms does more or less the same? (i seem to remember FNB doing something similar)
Click to expand...

The JSE is busy with a project, ITAC (Integrated Trading and Clearing), and at the end they should be on T+3 settlement. A number of international exchanges are on T+1 already.
 
acp said:
Excellent - thanks!

So the dependant HAS to have a dedicated bank account?
I cannot use my own until they choose to have theirs? If I'm the legal guardian/parent, why can I not use my own account?
After all, the plan is obviously to invest and leave ALL of it IN the TFSA, and NOT to cash-out unless god-forbid, one needs it for an emergency. Said dependant can decide one day whether to link his/her own bank account to it to withdraw, which hopefully they will also not have to do, ever.

And if there's no other way than dedicated bank account: cheapest way to achieve this where bank fees won't become an issue and eat into the growth?
Click to expand...

i don't see a reason why you will not be able to change the linked bank account?
eg - the moment FNB kills ebucks, i will move to the lowest cost for example capitec - EE cant force me to keep an expensive account just because they cant take new FICA doc's.

with regards to funding your account. Funding the TFSA i would recommend EFT - since if you fund it via credit card, they reduce your 30k limit with the fee's charged eg about R700 for 30k.
Funding the normal EFT account though, you can use the credit transaction - just note the monthly online transaction limit on the ebucks reward (think on Private clients it is R7500).
 
acp said:
Been delaying this for too long now.

Interested to make the move to EE.
Currently with both FNB Securities and Satrix (AOS).
With the lacklustre markets I've only been really adding to ETFs lately, and have learnt the lesson that there's no such thing as consistent out-performance. Cherry picking has not been good for my blood pressure :sick:

I'm not into frequent trading or leveraged positions etc.
Any reason why not to make the move?

How did transferring work out for those who did?

Any idea how I will be charged by FNB Securities and Satrix (AOS) for the transfer? Per share group/ETF held or for the whole lot as one single fee per broker relayed from the JSE?

Can dividends be automatically re-invested?

What about integration into 22seven? All good?

I read the thread until about page 10 and all seemed okay until that point.

Ownership:
Everyone happy with the way EE ring-fences the shares into FW Trader entity?
If this goes boom, will I have title to my shares, no issues?
Click to expand...

I would say just leave what you have where it is and stop adding cash to it.

My move from Satrix (AOS) has been an absolute abomination and a costly affair as well probably negating all the profits I've made in the last few years.

It has proven to me exactly why I wanted to move because they are so incompetent.
 
Neo_X said:
i don't see a reason why you will not be able to change the linked bank account?
eg - the moment FNB kills ebucks, i will move to the lowest cost for example capitec - EE cant force me to keep an expensive account just because they cant take new FICA doc's.

with regards to funding your account. Funding the TFSA i would recommend EFT - since if you fund it via credit card, they reduce your 30k limit with the fee's charged eg about R700 for 30k.
Funding the normal EFT account though, you can use the credit transaction - just note the monthly online transaction limit on the ebucks reward (think on Private clients it is R7500).
Click to expand...

Thanks.
Bank account - I realise that I can change to whatever account I like, as long as it's FICA'd. I need to know whether it's mandatory to have dedicated, standalone bank account for a dependant's TFSA account. It could be many years and loads of bank fees or moving from account to account to try and keep these costs down.

Funding of Account:
CC eBucks vs EFT - realised on my simulation of the costs that CC funding would be madness.
Already did mine via EFT and triggered a trade or two.

BTW - I've never been clear on the amount of online spend they allow one to earn on. Way too complicated nowadays with all the tiering, levels etc.
IMO eBucks is going down the pipes, and with it lot of good stuff FNB has done over the last couple of years.
Should have known it won't last, but that's a discussion for another day/thread.
 
SauRoNZA said:
I would say just leave what you have where it is and stop adding cash to it.

My move from Satrix (AOS) has been an absolute abomination and a costly affair as well probably negating all the profits I've made in the last few years.

It has proven to me exactly why I wanted to move because they are so incompetent.
Click to expand...

This ain't good. I already started completing the transfer form from EE to send to AOS - not that I even know where to send it, how long it will take and what it will cost... Have 40, FINI and DIVI with them. And a long forgotten debit order...
Seems that Satrix website does not openly provide transfer/cancellation info. I wonder why...

Prefer not too have to live with three platforms and would rather keep FNB and EE, but preferably bring all of it into EE.
See no reason to pay R70 per month for the platform. Even while included 'free' in banking package - I don't pan to continue using this smoke-and-mirrors, overrated-overcrowded-SLOW-lounge bs package in any case... The only thing 'Private' about it is how they laugh behind your back about how much you're getting screwed.
 
Hi Guys,
I have recently joined EasyEquities. I did some research and found out that the securities that you purchase through them are held in safe custody by a nominee company in your name. GT247.com that has the FSR contract with you has been around for over 14 years.
They are also fully integrated on the 22/7 platform. EasyEquities is governed by the FSB so all seems onboard! Loving investing on my own!
 
MoneyMaker! said:
Hi Guys,
I have recently joined EasyEquities. I did some research and found out that the securities that you purchase through them are held in safe custody by a nominee company in your name. GT247.com that has the FSR contract with you has been around for over 14 years.
They are also fully integrated on the 22/7 platform. EasyEquities is governed by the FSB so all seems onboard! Loving investing on my own!
Click to expand...
Your ninja edit didn't work.

Senior Brand Manager
GT247.com (EasyEquities)
November 2012 – Present (2 years 9 months)
Click to expand...

No need to hide your identity.

We would just like some honest answers when we have questions; most of us are trading through EasyEquities anyway.

That being said, welcome.
 
MoneyMaker! said:
Hi Guys,
I have recently joined EasyEquities. I did some research and found out that the securities that you purchase through them are held in safe custody by a nominee company in your name. GT247.com that has the FSR contract with you has been around for over 14 years.
They are also fully integrated on the 22/7 platform. EasyEquities is governed by the FSB so all seems onboard! Loving investing on my own!
Click to expand...

Good for you! Life is beautiful...
Welcome!

Now, as brand manager (ambassador?), surely you can be of great help answering some of the burning questions we have posted on this thread until now?
 
Yeah, PM rpm and get yourself a red name.

How does interest work in the easyequities account? I notice I sometimes get some Rands here and there.
 
If it was me, instead of posting a cheesy generic message under a false name, I would rather have introduced myself as the brand manager and form a relationship with the forumites by answering questions. It is after all one of the first google results for Easy Equities and it asks the burning question: Easy Equities Good or bad? Golden opportunity wasted.
 
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