Easy Equities good or bad?

Neo_X said:
on my side , two transfers this week (FNB to FNB) have cleared within an hour. They usually drop an email once it has cleared, thus not too much of a hassle.
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Yes, same here , I just email POP, and the within an hour it shows.
 
Any EE guys on here: Pushed some cash into my EE account, via my Capitec Debit Master Card, on Friday. Cash was never allocated to my EE account. Called them Friday, mailed them a bank statement, called them 3 times yesterday...someone was suppose to call me back,....but nothing! Can anyone assist?
 
If you made the payment after 14:00 on Friday, they would only have processed it yesterday, so I reckon it should reflect today.
 
Seems like a few of my failed deposits yesterday came off my bank account. I've followed up with EE, their call centre guys are pretty friendly so far.
 
artificial limits imposed by EE are tiresome and I have no doubt that EE is making underhanded profit on their platform. Today, when FNB allowed to sell PPE at 73 cents, EE would allow to sell @ 64 cents. Cashing out of EE and closing account as soon as it allows next week.
 
Yo, any of you guys on Capitec?

Which of EE's bank do you guys EFT money into (ABSA, Nedbank, Investec, etc)? Do any of them clear faster from Capitec?

Shot
 
Shalin_ZN said:
Yo, any of you guys on Capitec?

Which of EE's bank do you guys EFT money into (ABSA, Nedbank, Investec, etc)? Do any of them clear faster from Capitec?

Shot
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Capitec uses the ABSA's banking backbone so use them. So far has alway been in the next biz day.
 
surface said:
artificial limits imposed by EE are tiresome and I have no doubt that EE is making underhanded profit on their platform. Today, when FNB allowed to sell PPE at 73 cents, EE would allow to sell @ 64 cents. Cashing out of EE and closing account as soon as it allows next week.
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My main porfolio is with ABSA and , when trading, has live prices. When I started with EE, did compare the two while making a trade on EE, and found them to be remarkably similar if not exactly the same. Haven't compared for a while, but would be supprised at that spread. If I remember will try on Monday on PPE.
 
Hi Surface,

We apologise for the fact that you find the limits tiresome.

In order to keep our costs low and make it an Easy experience, our EasyEquities platform is an execution system rather than an order entry system.

We are in effect an intermediary between our Investors and the exchange. As such, we have had to build certain ‘limits’ (transactional and daily) on the instruments we are able to offer, to ensure that when a client issues the purchase instruction, that we are then able to go to the market and execute that exact trade.

Where such a system limitation limits the value of the trade you are able to place, we offer the option to call into our trading desk (at no charge - usual charge for this service is R50), and they will execute the trade on the live exchange for the value you desire.

As to your suggestion that we are making underhanded profit, the Purple Group, the holding company under which EasyEquities operates, is listed on the JSE and our income streams are audited and available for everyone to review (http://www.purplegroup.co.za/results.html). They are not different from our competitors that operate in the same space and neither our licenses nor operating business model have ever been drawn into question by our regulator/s or any credible source.

Our clients, staff and shareholders are highly respected in their fields, the ethos of the group is to provide easy, affordable access to all financial services for all South Africans with the cornerstone of this is being built out of innovation and developing trust. Further to this, recent awards and recognition received in the media and elsewhere speak to a group that holds itself to a high set of standards and would never compromise their values.

I would encourage you to please not cash out of your EE account (you won't find better costs or an easier to use self-service platform anywhere else), but rather use the call-in option when experiencing limits on the value you wish to trade.

Regards
Justin
Head of Client Engagement
 
HI Yebocan,

sorry to here of the delay in the allocation of your deposit, but that delay is most unusual. There are sometime circumstances beyond our control (just one example of which is the sometimes random truncation of a reference number) that result in us being unable to determine which account to assign the funds to.

In these circumstances, submission of a proof of deposit enables us to trace the deposit and we can then allocate it correctly.

I apologise too for someone not getting back to you as promised. That is unacceptable. the best manner to have your queries resolved is to send them in to [email protected], ensuring you add as much detail as you can.

This creates a ticket in our ticketing system which will be responded too within 24 hours during business days (could be slightly longer over weekends).
 
surface said:
artificial limits imposed by EE are tiresome and I have no doubt that EE is making underhanded profit on their platform. Today, when FNB allowed to sell PPE at 73 cents, EE would allow to sell @ 64 cents. Cashing out of EE and closing account as soon as it allows next week.
Click to expand...

Right just checked on ABSA with Live pricing and EE

ABSA

PURPLE PPE
64
62
61
50
35
15 000
2 200
30 000
50 120
100 000
72
73
74
75
77
500 000
1 800
20 000
253 375
13 948


EE
Purple Group Limited (PPE)
Previous Close Price R 0.73
15 Min Delayed Prices#
Last Traded PriceR 0.73
You're selling @ the BidR 0.64
You're buying @ the Offer

I copied them both - but at the end of the day:

They are EXACTLY the same

PPE just happens to have quite a large spread between buying and selling. As do many other, small caps.
 
JustinPearse said:
HI Yebocan,

sorry to here of the delay in the allocation of your deposit, but that delay is most unusual. There are sometime circumstances beyond our control (just one example of which is the sometimes random truncation of a reference number) that result in us being unable to determine which account to assign the funds to.

In these circumstances, submission of a proof of deposit enables us to trace the deposit and we can then allocate it correctly.

I apologise too for someone not getting back to you as promised. That is unacceptable. the best manner to have your queries resolved is to send them in to [email protected], ensuring you add as much detail as you can.

This creates a ticket in our ticketing system which will be responded too within 24 hours during business days (could be slightly longer over weekends).
Click to expand...

Does someone manually allocate the deposits or is it an automated system?
 
I just did an EFT to EasyEquities from my FNB account, and it was available in my EE account an hour later. Impressive!
 
I tried to sell shares this morning but got the following error:
"Trade Unsuccessfull:You may not have or increase a short position for this instrument"

What does that mean? I contacted their support but haven't received an answer yet.
 
Solitude said:
I tried to sell shares this morning but got the following error:
"Trade Unsuccessfull:You may not have or increase a short position for this instrument"

What does that mean? I contacted their support but haven't received an answer yet.
Click to expand...
Are you trying to sell more shares than you own?

Shorting in the trading world means borrowing someone else's shares, then selling them to buy them back later at a lower price (like I imagine all of Zuma's friends did last week wednesday). Easy equities doesn't offer that, so it's either a bug coming from the underlying gt247 platform, or something easy equities is planning for future.
 
patrick said:
Are you trying to sell more shares than you own?

Shorting in the trading world means borrowing someone else's shares, then selling them to buy them back later at a lower price (like I imagine all of Zuma's friends did last week wednesday). Easy equities doesn't offer that, so it's either a bug coming from the underlying gt247 platform, or something easy equities is planning for future.
Click to expand...

I didn't change the value at all. Just clicked on Sell and then on Sell Now and then it gives me that error. I tried multiple times too. And tried the refresh button next to the trade value. Hopefully they can sort it out.
 
JustinPearse said:
We are in effect an intermediary between our Investors and the exchange. As such, we have had to build certain ‘limits’ (transactional and daily) on the instruments we are able to offer, to ensure that when a client issues the purchase instruction, that we are then able to go to the market and execute that exact trade.
Click to expand...
This seems to limit functionality more than it limits cost. When EE executes a trade it has to enter an order in any case. Maybe there's something I don't know here but that's the same an when someone enters a custom order. If EE doesn't change this I hope then at least the spread between buying and selling prices is reduced as it's as much as 20% for some.
 
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