Easy Equities good or bad?

SauRoNZA said:
Oh okay so you are just buying.

To be honest I would have put all of that into about 10 shares instead of 80.

More money in smaller pools to make money from and easier to keep an eye on.

But sounds like you don't mean to keep an eye and just keep buying.
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yup. too lazy to get technical on watching each share every day. will maybe revisit my list every 6 months to a year to decide if i want to buy more/less or hold.
selling will get me into trouble with SARS , thus splitting across multiple shares will give me the flexibility of turning a blind eye if one or two performs badly or even negatively.

*edit* - currently about 40 shares, i had to perform two transactions each for personal reasons :)
 
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This worries me thou:
Prices displayed on the website or the EasyEquities platform may reflect delayed prices, or may be the previous day’s closing price for that security as quoted by the recognised exchange. Your trades in securities will be executed at the prevailing market price, quoted by the relevant recognised exchange for that security, at the time we execute your trade as reflected in the Invoice (“Execution Price”). The execution price may be different to the quoted price, depending on how the security’s market price has moved during the course of the market day. We do not give any guarantee that the execution price will be at or near the quoted price.
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Thor187 said:
I need something more reliable.
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If you need more reliable than that then you are probably an intra day trader. EqsyEquities may be advertised and sold as a trading platform but without the advanced features it really just is a very flexible investment tool.

Lack of featuresand delayed prices (a platform is charged a fee by the JSE for every account with access to the live prices) are probably very big contributing factors to their low pricing.

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If you want to speculate wering a tin foil hat - to lower prices EasyEquities can monitor stock trends and by a bucket load of those shares themselves (by predicting what people will by). Those shares will be bought at the cost of one transaction. Users then buying these shares are actually buying these shares from EE instead of the JSE (and they can make a slight profit from this if they wish inflating the price of a share by say 10c). It's risky but crazy enough to work :p
 
Damn that actually sounds so crazy I might actually do it. Hehe
 
Whats worrying me is that the shares are not registered under your name with the JSE, so if EE gets into financial troubles it wont be easy to get your money or shares for that matter and I know its kept in a separate trust account, but cant say that will make my sleep more peaceful...
 
Zukat said:
Whats worrying me is that the shares are not registered under your name with the JSE, so if EE gets into financial troubles it wont be easy to get your money or shares for that matter and I know its kept in a separate trust account, but cant say that will make my sleep more peaceful...
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This is probably the reason why so little paperwork is required to het started as opposed to so fetching like ETFSA. When you invest with Stanlib or Allan Gray you have an account with them, what's the difference?
 
I just started EE and trust me I did my research before going for them.

Imho they are amazimg !!! I'm moving my PSG stuff over, due to the fact that both the PSG website and app is terrible and slow.

If you do go EE use a 'third party' charting system as EE don't have tracking they will just link you to.google finance which is actually not so bad either.
 
That's a very good point, are you sure? If so, they should not be charging that fee for ETFs. That's a good 0.25% that you are paying more on ETF purchases than you should.

But then again, they don't charge STRATE, so who knows what they are doing..

gjmellet said:
According to the JSE's website ETFs are exempt from securities transfer tax (STT) - https://www.jse.co.za/trade/equity-market/exchange-traded-products/exchange-traded-funds.
However, it seems the Easy Equities platform charges STT of 0.25% when buying shares as well as ETFs.
Is there a reason for this or should they actually not be charging this fee?
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adidas said:
That's a very good point, are you sure? If so, they should not be charging that fee for ETFs. That's a good 0.25% that you are paying more on ETF purchases than you should.

But then again, they don't charge STRATE, so who knows what they are doing..
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I sent them an email enquiring about the STT fee and will provide an update if they respond.
 
Well not sure if this might help?

I quickly made a R100 order to show the costs.


DETAIL ZAR
BROKER COMMISSION 0.25
EASYMONEY CREDIT (How do I earn credit?) EM 0.00
SETTLEMENT AND ADMINISTRATION (2) 0.08
INVESTOR PROTECTION LEVY AND ADMINISTRATION (IPL) (3) 0.01
SECURITIES TRANSFER TAX AND ADMINISTRATION (4) 0.25
VALUE-ADDED TAX ON COSTS (VAT) 0.05
TOTAL TRANSACTION COST 0.64
TRADE VALUE 100.00
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1 SHARES TRADED
The EasyEquities platform enables users to invest in securities which includes whole shares and fractional share rights. GT247.com acts as an agent for the issue of whole shares, where the investor is the registered owner of these shares, giving the investor entitlement to dividends, corporate actions and all the economic benefits and risks associated with share ownership. In respect of the fractional share rights, GT247.com acts as a principal where the investor will have a contractual claim against GT247.com to the economic benefits and risks associated with share ownership (price movements and dividends) without having ownership rights in the underlying share. Fractional share rights are issued through a contract for difference, which is an over the counter derivative. Unlike whole shares, fractional share rights do not carry any voting rights. As you make further purchases and ultimately end up with a whole share, the contract for difference is closed out and the ownership is delivered to the investor through a whole share.
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2 UNFORTUNATELY WE ARE NOT RESPONSIBLE FOR THIS FEE
This fee is charged at flat rate of 0.075% of the value traded, ensuring the lowest possible cost to the investor.
This fee includes the electronic settlement of your transactions through the electronic settlement authority for whole shares and the administration fee represents an upfront recovery on the fractional share rights (FSRs) portion.
divider
3 UNFORTUNATELY WE ARE NOT RESPONSIBLE FOR THIS FEE
The investor protection levy is a mandatory charge levied by the regulator at 0.0002% on the value of whole shares traded for the regulation of the securities market and in dealing with issues such as insider trading and market manipulation which is ultimately for the benefit of investors. The administration fee represents an upfront recovery on the fractional share rights (FSRs) portion.
divider
4 UNFORTUNATELY WE ARE NOT RESPONSIBLE FOR THIS FEE
Security Transfer tax is levied by SARS at 0.25% and applies to the purchase and transfers of listed (whole shares) and unlisted securities (FSRs).
divider
5 SETTLEMENT
All proceeds from the sale of Whole Equities(Shares) or the close out of CFD transactions will be paid by GT247.com into your Account, only upon settlement of the Trade i.e. T+5.

Hope this helps
 
As I understand it they should not charge nr 4 (STT) for ETF purchases.
 
I can confirm that I have not been charged STT on any of my ETF purchases at FNB Securities - I checked my contract notes this morning..

I would complain if I were you guys, it does make them more expensive if you buy ETFs through them.

gjmellet said:
As I understand it they should not charge nr 4 (STT) for ETF purchases.
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adidas said:
I can confirm that I have not been charged STT on any of my ETF purchases at FNB Securities - I checked my contract notes this morning..

I would complain if I were you guys, it does make them more expensive if you buy ETFs through them.
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You would've paid a minimum brokerage fee through FNB securities. In Thor's example he bought R100 and it cost him under R1 in transaction costs so I doubt this, if true, makes EE more expensive.
 
I checked my etfSA purchases and I also have not been charged STT for any of the transactions. ETF purchases on Standard Bank Online Share Trading also did not reflect STT fees.

adidas said:
I can confirm that I have not been charged STT on any of my ETF purchases at FNB Securities - I checked my contract notes this morning..
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