Easy Equities good or bad?

EE has been in the market for about two years or so. If he was one of the first it would be a perfectly valid statement.
 
Swa said:
EE has been in the market for about two years or so. If he was one of the first it would be a perfectly valid statement.
Click to expand...

Not even.

Their Beta program with fake trading only started in July 2014.
 
Thx Hamster.

I wonder how can they call them "SA #1 Stockbroker" if they are only Derivative brokers that use EE as a front end to make them look like normal Stock Brokers?
 
owl said:
Thx Hamster.

I wonder how can they call them "SA #1 Stockbroker" if they are only Derivative brokers that use EE as a front end to make them look like normal Stock Brokers?
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In English please
 
Not sure if this has been mentioned but it looks like something fishy is going on when buying ETF shares on EE.
I've only noticed on my last 2 trades that actual price paid per share is about 1.5% more than "buying @ the offer" price, even when going back and refreshing! The fees are still added on top of that! The confirmation email shows the higher price!
Anybody else noticed this?
 
hate these issues. was going ot move over my std bank account but maybe I should just use that. but donner that monthly fee and transaction fee.
 
strego said:
Not sure if this has been mentioned but it looks like something fishy is going on when buying ETF shares on EE.
I've only noticed on my last 2 trades that actual price paid per share is about 1.5% more than "buying @ the offer" price, even when going back and refreshing! The fees are still added on top of that! The confirmation email shows the higher price!
Anybody else noticed this?
Click to expand...

Front running?
 
strego said:
Not sure if this has been mentioned but it looks like something fishy is going on when buying ETF shares on EE.
I've only noticed on my last 2 trades that actual price paid per share is about 1.5% more than "buying @ the offer" price, even when going back and refreshing! The fees are still added on top of that! The confirmation email shows the higher price!
Anybody else noticed this?
Click to expand...

If I'm not mistaken, those aren't live prices, they are 15 min delayed. I think it even mentions it on the purchase screen.

I placed trades on 4 and 12 and they seemed correct.
 
Can anyone sell Central Rand Gold in EE?

I tried, but EE refuses to sell. Telling me I have a short position open?
 
russellO said:
If I'm not mistaken, those aren't live prices, they are 15 min delayed. I think it even mentions it on the purchase screen.

I placed trades on 4 and 12 and they seemed correct.
Click to expand...

You are correct, I think this is the issue.
Sorry to cause worry...nothing fishy with EE!
Been using their platform for about 8 months now, great service, no issues.
 
strego said:
Not sure if this has been mentioned but it looks like something fishy is going on when buying ETF shares on EE.
I've only noticed on my last 2 trades that actual price paid per share is about 1.5% more than "buying @ the offer" price, even when going back and refreshing! The fees are still added on top of that! The confirmation email shows the higher price!
Anybody else noticed this?
Click to expand...

Hi,

What I also noticed with regards to ETF's is that if you buy before around 10h30 in the morning, then sometimes the market maker of the ETF provider has not narrowed the BUY and OFFER spread. This means when you buy (and this problem will not just be on Easy Equities) you are getting the price of the OFFER which can be considerably higher than the previous closing price.

For example check this screenshot of the Coreshares Top 50 ETF on Easy Equities this morning:
coreshares50.PNG


So you can see yesterday's close was R20.93. However when you buy you will buy at the price of the closest offer which is R21.93 - that's a full 4.78% higher than the previous close even though the market is about a half a percent down. So you would have ended up losing around 5%.

And if you were selling even worse! You would only get R17.20 per share (check the BID price). That's almost 18% less than the previous close!

So always check the Bid/Offer price before you transact to make sure it is close to where it should be. I have been burnt before so just thought I would share.

* Just note this has nothing to do with the Easy Equities platform, and you will see the same thing at any broker.
 
stealthywealth.co.za said:
Hi,

What I also noticed with regards to ETF's is that if you buy before around 10h30 in the morning, then sometimes the market maker of the ETF provider has not narrowed the BUY and OFFER spread. This means when you buy (and this problem will not just be on Easy Equities) you are getting the price of the OFFER which can be considerably higher than the previous closing price.

For example check this screenshot of the Coreshares Top 50 ETF on Easy Equities this morning:
coreshares50.PNG


So you can see yesterday's close was R20.93. However when you buy you will buy at the price of the closest offer which is R21.93 - that's a full 4.78% higher than the previous close even though the market is about a half a percent down. So you would have ended up losing around 5%.

And if you were selling even worse! You would only get R17.20 per share (check the BID price). That's almost 18% less than the previous close!

So always check the Bid/Offer price before you transact to make sure it is close to where it should be. I have been burnt before so just thought I would share.

* Just note this has nothing to do with the Easy Equities platform, and you will see the same thing at any broker.
Click to expand...

interesting! Thank you for keeping us informed :)
 
I got an e-mail saying T&C's have been updated - anybody have a summary of the changes?
 
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