Easy Equities good or bad?

ActivateD said:
Hi Justin

Can you answer the who owns the shares that are brought on EE that was discussed late December.
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What needs answering? It's already been answered.


What people need instead is ACCEPTANCE that it's common practise and nothing to be worried about.
 
drkbstr said:
I have seen my name and associated details in an official company share register whose shares I bought through EE. So then the shares are not held by GT247 as postulated by you.
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I can confirm this.
 
I much rather want to hear about all the other issues and bugs.
 
thehuman said:
This is to withdray it outside EE . You can imiadly re invest money from sold shares
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Swa said:
Have you done that?
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can confirm. trading is definitely possible using the EE platform ( eg immediate selling and buying again).

problem is, due to the 15min delayed prices as well as the buffer they have between actual price and the price you sell/buy at, it is not a very cost effective trading platform.


buy once and forget
 
Sold Lonmin a while back and immediately purchased DBXWD shares.. funds were immediately available after selling.
 
thehuman said:
Sold some firstrand shares and a few minutes later bought some sasol shares
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Hamster said:
Sold PTXTEN today, money was available instantly
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AirWolf said:
After selling a share, how long before you receive credit to purchase again?
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Swa said:
Up to 10 days.
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tehtorq said:
Sold Lonmin a while back and immediately purchased DBXWD shares.. funds were immediately available after selling.
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Yes, when working with EasyEquities, you can 'sell' your shares and the credit will be reflected in your account with immediate effect. You can then use it to purchase new shares immediately, if you wish. If you request the money to be withdrawn to your bank account, there is a waiting period of up to 10 days.

This is possible on EasyEquities, because the transaction is done by a third party who register the shares in their own name. Shares are pooled and kept in a Nominee account. They do keep track of which people owns which number of shares, date bought, value bought and value of the shares.

When you instruct the company to buy or sell shares, they do not really need to buy nor sell the shares with immediate effect, although the transaction appears on your name immediately.

When you withdraw the money, the shares will be sold by the third party. Once the fees are received from the JSE then only will the seller receive the funds. This is why there is a 10 day waiting period.
 
ActivateD said:
Hi Justin

Can you answer the who owns the shares that are brought on EE that was discussed late December.
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You are likely not get a straight answer from the company. This is a common complaint across the Internet that these companies are not making this very clear. Just do a Google search for nominee account complaints. You will find a number of people not happy with companies hiding this fact.

Understandably so, although Nominee accounts are somewhat safe, many of these companies fear they may lose clients who do not like the idea of not having shares registered in their own names. So, this fact is hidden deep in Terms and Conditions and masked with all type of fancy words.

As long as you have ethical management / ownership, nominee accounts are just fine.
 
The Trader said:
You are likely not get a straight answer from the company. This is a common complaint across the Internet that these companies are not making this very clear. Just do a Google search for nominee account complaints. You will find a number of people not happy with companies hiding this fact.

Understandably so, although Nominee accounts are somewhat safe, many of these companies fear they may lose clients who do not like the idea of not having shares registered in their own names. So, this fact is hidden deep in Terms and Conditions and masked with all type of fancy words.

As long as you have ethical management / ownership, nominee accounts are just fine.
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But they aren't hiding it...people on this forum for some reason just don't want to believe what is quoted.

Or believe it but worry too much about it.
 
Swa said:
EE really should be more clear though about their terms
https://support.easyequities.co.za/...ifference-between-settled-and-unsettled-cash-

This makes no mention of being able to invest unsettled cash. In fact it makes no mention of investing under unsettled cash at all and only withdrawing.
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The cash will only become unsettled in your account when you request funds to be withdrawn to your bank account. Then only will EE physically sell off your shares, well not really yours, but rather theirs, on the stock exchange, but you will need to wait until the amount is paid to GT247. You cannot use unsettled cash to trade.

As long as you do not withdraw your money to your bank account, then the credit will appear immediately in your account and you can start trading again. They will keep or physically sell your shares at a point in time they feel they can profit most from it.
 
SauRoNZA said:
But they aren't hiding it...people on this forum for some reason just don't want to believe what is quoted.

Or believe it but worry too much about it.
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Agreed. Nominee accounts are not always evil, but it has its risks. This whole way of operations is to offer clients cheap or cost-effective trading opportunities and provide the company with additional methods in dealing with shares to increase profitability. For these operations to work effectively, you need a company with sound trading decisions as there are a lot of buying and selling shares in the background on an ongoing basis.
 
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