Easy Equities good or bad?

[Hamster]

Not saying you are wrong. But this http://today.moneyweb.co.za/dm-article?id=508083#.VtAjI9DMKO5 shows a different understanding of ring-fencing. So now I am confused..

Well, my definition is specifically wrt EE: https://support.easyequities.co.za/...icles/5000620467-how-are-my-assets-protected-

But I would trust Moneyweb's definition which is way too long for me to reason a Friday afternoon

 

[GSouth]

Hi Guys, sorry to hijack the thread a little.
But can anyone tell me where to find he current "SAFEY" rate?
EE links their interest on cash to this rate, but I cannot find it anywhere on the internet.

Thanx

 

[Swa]

6.25% but EE takes about 25% so it's something like 4.6% if I remember correctly.

 

[GSouth]

Thanx Swa

Its SAFEY-2.5% for a cash balance between 1000 & 10000, if I understand your sentence correctly.
Where does one get this SAFEY rate?
Do you have to contact EE or the JSE directly?

 

[Swa]

I'm not sure where you got that from. According to this it's PRIME-3.75 from 1 October which would have been 6.25% through January or 6.50% from 29 January. From that they take a management fee of 1.75% or nearly 27% in relative terms so it's an effective rate of 4.75% for amounts up to R100,000. Previously they used SABOR as a reference so I don't know where SAFEY comes from.

 

[d7e7r7]

So one of my colleagues wants to have a friendly investment competition using Easy Equities. Basically we'll each invest a set amount and choose our own shares and see who makes the most profit (or suffers the least losses :twisted. Problem is I already have an Easy Equities account with several shares. Is it possible to open another Easy Equities account to use or does anyone have any other solutions?

 

[krycor]

So one of my colleagues wants to have a friendly investment competition using Easy Equities. Basically we'll each invest a set amount and choose our own shares and see who makes the most profit (or suffers the least losses :twisted. Problem is I already have an Easy Equities account with several shares. Is it possible to open another Easy Equities account to use or does anyone have any other solutions?

Just use InvestorChallenge.co.za for that

 

[d7e7r7]

Just use InvestorChallenge.co.za for that

Want to use real money

 

[Neo_X]

So one of my colleagues wants to have a friendly investment competition using Easy Equities. Basically we'll each invest a set amount and choose our own shares and see who makes the most profit (or suffers the least losses :twisted. Problem is I already have an Easy Equities account with several shares. Is it possible to open another Easy Equities account to use or does anyone have any other solutions?

i think the EeasyEquities demo acccount should work as well?


But yes - investor challenge seems the easiest. and monthly cash injections plus a leaderbord

 

[d7e7r7]

I got a reply from their help system saying:

...you can open a 2nd EAsyEQuities account if you want to manage it separately.

You'll need to go through the online reg again and FICA yourself again if you did it more than 3 months ago...

That's cool, I think I'll be doing that, having scans of all my documents makes FICA'ing pretty quick and easy online...

 

[Salochin]

Hi All,

I am a bit concerned about Easy Equities.

I have make use of Nedbank as well as Easy Equities.

I have noticed two things so far that bothers me:

1. Sale on Easy Equities using reference of Nedbank live prices the trade executes at different values, this in a liquid stock.
2. Bought shares that are not so liquid so that I could watch the exchange, NOTHING displayed on the exchange showing any buys on that stock, refreshed for about 15 minutes and nothing.

 

[Salochin]

I had an "interesting" experience this morning - posting it here to maybe give someone else a pre-warning.

Having risked some money into gold the past few weeks, the last few days of bad performance and also the news on the downgrading of anglo gold, my first task this morning at 9:05am was to sell all my shares in Anglo gold, Sibanye, Harmony and Goldfields.

I did one sell page at a time, diligently verifying that the "You are selling at the bid : Rxx,xx" was still close to the previous day close - in most cases this was displayed as very similar - maybe 30 to 40c difference"
I thus clicked on sell. After finishing my transactions, i was surprised to see my current available funds to be less than what i calculated it should be (about 4% lower).

View attachment 342290


I assume what happened was delayed pricing, and thus EE selling the actual shares a much lower value - looking at online pricing some of the shares didn't even reach this value in the past hour.

I will try to report this to them to see their response, but i am sure they will have it covered as per their note next to a sell transaction :



school fee's? -Probably, but it certainly makes me very scared on doing trades with them..

I am a bit concerned about Easy Equities.

I have make use of Nedbank as well as Easy Equities.

I have noticed two things so far that bothers me:

1. Sale on Easy Equities using reference of Nedbank live prices the trade executes at different values, this in a liquid stock.
2. Bought shares that are not so liquid so that I could watch the exchange, NOTHING displayed on the exchange showing any buys on that stock, refreshed for about 15 minutes and nothing.

 

[Hamster]

Yeah, we heard you the first time

 

[FxJalarupa]

You'll have to excuse hammy,

I just closed out my tester trade I entered into on LON three weeks ago...

Each time I got screwed on the spread... Now just by 75.

So yeah I said it before... I'll say it again... You have no hope in hell of getting your price from EE it's always their price... And their price is so blatantly massaged...

So you have to weigh up the cost versus the benefit... I would rather pay a higher price and get my price, but that's just me...

 

[patrick]

I saw details about this on a blog post I wrote, so I just did a test with an ETF. The ETF seemed to go off at the live price, but this might be because the marketmaker makes a large number of shares available at that price.

I would imagine they're not allowed to add to the cost of shares, but they may have a delay on how long it takes for the transaction to go through. If this is the case, then it should mean you would buy at a lower price in a falling market and at a higher price in a climbing market.

Has anyone gotten a lower price than live pricing shows?

 

[Hamster]

You'll have to excuse hammy,

I just closed out my tester trade I entered into on LON three weeks ago...

Each time I got screwed on the spread... Now just by 75.

So yeah I said it before... I'll say it again... You have no hope in hell of getting your price from EE it's always their price... And their price is so blatantly massaged...

So you have to weigh up the cost versus the benefit... I would rather pay a higher price and get my price, but that's just me...

Meh, I'm over it. Suppose it will be a issue one day when I start selling. I've moved all my ETFs to ABSA anyway so only my TFSA and two other holdings (my last non ETF ones) left at EE.

 

[Thor]

You'll have to excuse hammy,

I just closed out my tester trade I entered into on LON three weeks ago...

Each time I got screwed on the spread... Now just by 75.

So yeah I said it before... I'll say it again... You have no hope in hell of getting your price from EE it's always their price... And their price is so blatantly massaged...

So you have to weigh up the cost versus the benefit... I would rather pay a higher price and get my price, but that's just me...

I say it now and I'll say it again.

Don't trade on EE. Invest.

Their spread your talking about will make no difference 20 years from now.

And if it does then you picked a k@k share to invest in.

 

[Swa]

I say it now and I'll say it again.

Don't trade on EE. Invest.

Their spread your talking about will make no difference 20 years from now.

And if it does then you picked a k@k share to invest in.

I said this before and I'll say it again, what you save in fees you just pay in spreads. So it depends on what floats your boat. Overall they cost exactly the same as other platforms. Their target market is the guy who spends <R1000 on a trade whether for investing or trading.

What grates me though is how they advertise low fees when in fact they just hide their real fees.

 

[Thor]

I said this before and I'll say it again, what you save in fees you just pay in spreads. So it depends on what floats your boat. Overall they cost exactly the same as other platforms. Their target market is the guy who spends <R1000 on a trade whether for investing or trading.

What grates me though is how they advertise low fees when in fact they just hide their real fees.

That's just outright not true.

 

[Neo_X]

I had an "interesting" experience this morning - posting it here to maybe give someone else a pre-warning.

Having risked some money into gold the past few weeks, the last few days of bad performance and also the news on the downgrading of anglo gold, my first task this morning at 9:05am was to sell all my shares in Anglo gold, Sibanye, Harmony and Goldfields.

I did one sell page at a time, diligently verifying that the "You are selling at the bid : Rxx,xx" was still close to the previous day close - in most cases this was displayed as very similar - maybe 30 to 40c difference"
I thus clicked on sell. After finishing my transactions, i was surprised to see my current available funds to be less than what i calculated it should be (about 4% lower).

View attachment 342290


I assume what happened was delayed pricing, and thus EE selling the actual shares a much lower value - looking at online pricing some of the shares didn't even reach this value in the past hour.

I will try to report this to them to see their response, but i am sure they will have it covered as per their note next to a sell transaction :



school fee's? -Probably, but it certainly makes me very scared on doing trades with them..

i completely forgot to add feedback here. Apologies.


They came back with this :

Please see below response from our Head of Trading :

"If a client looks at pricing at 9:05 they are in fact looking at prices loaded in the auction from 8:50. This bears no resemblance of where the stock is trading nor where he will be filled.
On the 16th Feb, gold during the Asian session (before our market opened) traded $20 lower. All local gold shares gapped lower on the open, the client would have only seen this at the 09:15 update.

Attached are 4 screenshots of each stock’s opening on the 16th and it can clearly be seen that they all correspond to the execution levels mentioned below. "

Should you require any further assistance, please feel free to contact our Trading Desk on 0879406101.

Bit unfair i guess, but the delayed pricing is definitely the issue here.- Your buy/sell actions happens on the real price. The website displays delayed pricing, and gives ample warning about that.

thus my future trades/investments will only be for 9:15 onwards - especially if it is in stock/gold where i know that there is daily volatility after market closure..