Easy Equities good or bad?

The Worker said:
Does anyone know if the Purple Group or Easy Equities are still in business? It seems a lot of people are no longer getting feedback on complaints or correspondence. Basic tasks like bank account verifications are no longer happening, not even after 6 months of sending them bank statements and some people cannot get money out of EasyEquities.

Can't help but wondering if people's money are still safe with them.
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I'm in the same boat, bank verification stuck for 2 months, request after request, generic responses.
Maybe I dodged a bullet and my funds are safer with another provider?
 
I recall seeing Clarity opened to non-Investec clients. :ROFL: I did ok there last year, return for the year was 20%
 
kabusi said:
I'm in the same boat, bank verification stuck for 2 months, request after request, generic responses.
Maybe I dodged a bullet and my funds are safer with another provider?
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Yeah, we are now going to try to get the deposits refunded through the ombudsman and possible legal actions if this fails. EasyEquities is too risky and I think a lot of people will lose money here.
 
They have definitely cut back on supoort staff....taking ages to get clarity on why my money is missing. Never mind some simple like bank to bank transfer taking so long to allocate....this stuff should be automated.

It's concerning. i tweeted Charles.....also gone into a black box. If somebody can PM the names of the other folk yo escalate my issue to, please help.

Thanks
 
Ecco said:
They have definitely cut back on supoort staff....taking ages to get clarity on why my money is missing. Never mind some simple like bank to bank transfer taking so long to allocate....this stuff should be automated.

It's concerning. i tweeted Charles.....also gone into a black box. If somebody can PM the names of the other folk yo escalate my issue to, please help.

Thanks
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I doubt they have cut back on anything, it simply looks like EE is in financial troubles and I think the boat may be sinking. A financial institution working with people's money does not act like this.
 
The Worker said:
I doubt they have cut back on anything, it simply looks like EE is in financial troubles and I think the boat may be sinking. A financial institution working with people's money does not act like this.
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Sometimes, it just seems that although growth assets surpass cash investments, your money is safer and somewhat more guarenteed in one of the bigger banks. Especially when interest rates were higher. Pay the tax but sleep better at night.
 
kabusi said:
Sometimes, it just seems that although growth assets surpass cash investments, your money is safer and somewhat more guarenteed in one of the bigger banks. Especially when interest rates were higher. Pay the tax but sleep better at night.
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I have been with Interactive Brokers for some time. I will be moving everything to them once we get the funds back. And, I think I agree. Probably the best bet is to work through established banks. Even though it costs a lot more, you will eventually, in the long term make up the losses. But, you will have better peace of mind. I am not so sure about Easy Equities anymore. I am sure these guys can disappear with everyone's money.
 
The Worker said:
I have been with Interactive Brokers for some time. I will be moving everything to them once we get the funds back. And, I think I agree. Probably the best bet is to work through established banks. Even though it costs a lot more, you will eventually, in the long term make up the losses. But, you will have better peace of mind. I am not so sure about Easy Equities anymore. I am sure these guys can disappear with everyone's money.
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I'm speaking from experience. Looks great on paper until you try to get your money out and then whats yours is no longer.
 
Touch (my) wood I've had zero issues of any kind so far.

Besides at time taking slightly longer to reflect when I transfer from my S.W@nk acc to EE it would still reflect in 3-4 hrs (worse case).
 
Closed my account last month, just got notice of a deposit.
Screenshot 2025-02-04 092817.png

Can't log on though - so I'll ignore it - let them deduct their R25 from it next month :ROFL:
Screenshot 2025-02-04 092854.png
 
  • Haha
Reactions: 3WA
Bundu said:
Happy with them?
Anything you don't like at this stage?
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Its improving, it was a bit buggy initially. (no more so than EE)

Currently, all your buys are listed individually, they recently added a grouping function (i.e. by company/eft) - it used to just be ordered by date.

I'd still like to see a sell all button. I don't want to have to click VTI 60x to sell. Also, it would be great if it were easier/faster to request companies/ETFs be added to whats available - I requested a company over a year ago, request is still open.
 
What is the best alternative out there for newbies. ie. cost versus complexity versus options
 
I now got a news letter ... EasyEquities is "helping" with bonds (thought it was they will offer, but its like mortgage originators)

But I can clearly see the perks already, they are pushing rewards into going through them
 
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