Easy Equities good or bad?

Magandroid said:
Anyone else receive this notification from EasyEquities. Does this now mean that once the IUDL has been reached and any new funds deposited will have to go through this process. I haven't received any such notifications from any of the other financial institutions that I deal with. Does ETFSA platform have the same policies in place?

/snip
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Received the same. Not a good look, at all. I wonder if something specific was happening (regarding money laundering) that is specific to the platform or if other institutions have been given the same instructions but simply have chosen not to communicate it until it affects individual investors. Might have to give it a Google when I have the energy.
 
I also don't see how they will be able to determine a new UDL based on those two pieces of information (income and source of income). If I have an income of 3X, they would have to know my financial commitments in order to determine how much I "can" invest. Or is it going to be a generic "You make 3X so we are setting your limit at X"?

For all they know I have the means to save and invest my entire salary of 3X, if not more. Now I'd have to explain the intimacies of my personal finances to a call center agent? Or maybe someone actually can only afford to invest X based on their real expenses but manages to convince EE to set my limit at 2X, that doesn't stop them from laundering the difference if they're so inclined?

I'd really love to know how they are going to implement this, maybe it's not as silly as it sounds and I'm just slow...
 
I see on the Fat Wallet facebook community that people have already been affected by this. It will now take even longer to purchase shares/etfs.
 
inkos said:
I see the app is offline...
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SA finance is dead outside of business hours which makes late night Fridays agreat time to do maintenance because they expect you to be out watching TV, braai'ing, drinking, partying, kuier'ing, pomping etc. and not look at your investments.
 
For what it is worth I have had an account with Easy Equities for the past year. I also have a Standard Bank OST. This I got a number of years back. For ETFs , Tax Free Investment account and having a USD account. Easy Equities is really great and they are cheap. The costs on USD ETFs is much lower than ours in SA but you lose on the exchange of rands to USD. So not sure if I really get a benefit using this. I really do like and trust Easy Equities. They have a passion and commitment. They are transparent. What they lack is information sheets on each ETF but then I go and use ETFSA's or Yahoo Finance. Standard Bank OST do really good webinars on a weekly basis. So there is definitely value for money. They also have good tools on the platform. The costs are standard brokerage fees (which are higher the Easy Equities (EE) and monthly bank charges which are now R105. If you just want to buy and hold Easy Equities is great.
 
Fin Fit said:
For what it is worth I have had an account with Easy Equities for the past year. I also have a Standard Bank OST. This I got a number of years back. For ETFs , Tax Free Investment account and having a USD account. Easy Equities is really great and they are cheap. The costs on USD ETFs is much lower than ours in SA but you lose on the exchange of rands to USD. So not sure if I really get a benefit using this. I really do like and trust Easy Equities. They have a passion and commitment. They are transparent. What they lack is information sheets on each ETF but then I go and use ETFSA's or Yahoo Finance. Standard Bank OST do really good webinars on a weekly basis. So there is definitely value for money. They also have good tools on the platform. The costs are standard brokerage fees (which are higher the Easy Equities (EE) and monthly bank charges which are now R105. If you just want to buy and hold Easy Equities is great.
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Paying people to spam on MyBB?

Do you still trust EE with your investments?
 
Fin Fit said:
For what it is worth I have had an account with Easy Equities for the past year. I also have a Standard Bank OST. This I got a number of years back. For ETFs , Tax Free Investment account and having a USD account. Easy Equities is really great and they are cheap. The costs on USD ETFs is much lower than ours in SA but you lose on the exchange of rands to USD. So not sure if I really get a benefit using this. I really do like and trust Easy Equities. They have a passion and commitment. They are transparent. What they lack is information sheets on each ETF but then I go and use ETFSA's or Yahoo Finance. Standard Bank OST do really good webinars on a weekly basis. So there is definitely value for money. They also have good tools on the platform. The costs are standard brokerage fees (which are higher the Easy Equities (EE) and monthly bank charges which are now R105. If you just want to buy and hold Easy Equities is great.
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Fresh New user comes in with a glowing review on EE and only one post. Nothing suspicious at all here folks :ROFL:
 
wcm said:
Fresh New user comes in with a glowing review on EE and only one post. Nothing suspicious at all here folks :ROFL:
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Didn't their brand ambassador once pull a similar stunt in the early days of this thread, only he got busted because they'd forgotten to change their profile info and got summarily called out? They can't be dumb enough to do this again... Or can they? Dun dun dun...
 
Mylky said:
Didn't their brand ambassador once pull a similar stunt in the early days of this thread, only he got busted because they'd forgotten to change their profile info and got summarily called out? They can't be dumb enough to do this again... Or can they? Dun dun dun...
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To what end?
 
Hamster said:
To what end?
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Only EE would be able to answer that question. But they've definitely done this before. See below:

Honey Badger said:
Your ninja edit didn't work.



No need to hide your identity.

We would just like some honest answers when we have questions; most of us are trading through EasyEquities anyway.

That being said, welcome.
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adidas said:
total fail.

must say I'm quite glad my broker isn't trying this s**t
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Coasti said:
If it was me, instead of posting a cheesy generic message under a false name, I would rather have introduced myself as the brand manager and form a relationship with the forumites by answering questions. It is after all one of the first google results for Easy Equities and it asks the burning question: Easy Equities Good or bad? Golden opportunity wasted.
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Shalin_ZN said:
Also read the post under that name. I see it's completely different to what was originally posted.

I just recently signed up to EE and referred a few family members as well, for TFSA accounts specifically. Haven't started investing yet though.

If this is a representation of managements integrity I'm going to be very skeptical going forward, if I decide to continue the relationship at all.

That said. I believe in second chances. Not a third though.

Register an account as a company representative (PM rpm, get a red username) and join the community. We have a lot of questions that we would like to be answered. I generally prefer to use companies that have a (useful) rep here on MyBB.
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Romi Appel said:
Hi Guys, Let me introduce myself, I am the brand Manager for EasyEquities! I have replied to a couple of you before under my name (Romi Appel). Please always feel free to ask away, I am here to answer any questions you may have. You can also email me directly on rappelatgt247dotcom or 087 940 603four.
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I'm seriously considering just ditching my last investment with them. No need for crap like this. It's not up to some random company to police where my money comes from when not even my bank does that.
 
We've moved on since their beta 2015 days. I'm not their biggest fan but they don't need to advertise or plug their platform.

That said, I'm waiting for them to mess up the coming PTXTEN corporate action
 
Mylky said:
Only EE would be able to answer that question. But they've definitely done this before. See below:
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Oops, forgot to quote the actual post that started the whole mess where they pretended to be an neutral third party supplying an impartial review after "doing research" when the forum had expressed some concerns about the rights issues wry share ownership @Hamster

MoneyMaker! said:
Hi Guys,
I have recently joined EasyEquities. I did some research and found out that the securities that you purchase through them are held in safe custody by a nominee company in your name. GT247.com that has the FSR contract with you has been around for over 14 years.
They are also fully integrated on the 22/7 platform. EasyEquities is governed by the FSB so all seems onboard! Loving investing on my own!
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Hamster said:
We've moved on since their beta 2015 days. I'm not their biggest fan but they don't need to advertise or plug their platform.

That said, I'm waiting for them to mess up the coming PTXTEN corporate action
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Agreed. Was simply pointing out that this wouldn't be a first for them.
 
I was looking at using the EE USD account for investment but reading through the last few posts I see that might be a mistake. Who do you guys recommend for USD investments?

Edit: I am investing and forgetting about it for at least 5-10 years.
 
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ActivateD said:
I was looking at using the EE USD account for investment but reading through the last few posts I see that might be a mistake. Who do you guys recommend for USD investments?
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I don't have a problem with them, and I have quite a lot of money (to me) parking in it.

I seem curious to see what else is out there though.
 
mr_norris said:
I don't have a problem with them, and I have quite a lot of money (to me) parking in it.

I seem curious to see what else is out there though.
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I really want to use EE as they have my SA based investments. Does anyone have information how TAX deals with the USD based accounts as well?
 
Hi guys ...

I am considering opening an EE account

What I like is the THRIVE option, and also no monthly fees.

The bad part, taking the risk :(
 
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