South African trading platform battle — EasyEquities beats big banks

[Hanno Labuschagne]

South African trading platform battle — EasyEquities beats big banks

Research from Daily Investor shows that EasyEquities is the most popular online share trading platform in South Africa and easily outperforms Standard Bank, FNB, and Absa’s alternatives.

Online share trading showed steady growth in the country after the big banks launched online trading platforms.

[Daily Investor]

 

[FiestaST]

Colour me surprised…

 

[hj007]

Fees at EE are decent, but dont like that I cant choose the price to trade at (market only) and that they specify a maximum size of trade based on liquidity.
Those 2 prevent me from switching over from SBSA for now, even if price far higher.


Of course, none compare to the US brokerage (0 trading fee and 0 monthly fee).

 

[Speedster]

Apart from its easy-to-use interface and fractional share rights model, Easy Equities had another winning formula – partnering with big brands.

No mention of the main reason they're popular? Either the writer is totally clueless or they want to hide the fact that the other platforms are ridiculously priced.

 

[Messugga]

This is such a silly article. They beat the big banks it terms of client volume? Perhaps. But traditional trading desks don't shoot for large client volumes, they go for revenue. I doubt EE sees many multi-million rand deals, which is par for the course for the other guys.

 

[3WA]

EasyEquities wins the game by being the easiest place to get a tax-free account. None of the banks have a decent offering, so anyone who is starting out and researching a TFSA will likely end up at EasyEquities. And then once they’re ready to start picking stocks, their discretionary account is already set up for them.

I don’t understand why no bank is trying to keep this business by offering a decent TFSA.

 

[Speedster]

This is such a silly article. They beat the big banks it terms of client volume? Perhaps. But traditional trading desks don't shoot for large client volumes, they go for revenue. I doubt EE sees many multi-million rand deals, which is par for the course for the other guys.

Completely different market and product offering

 

[Tun@]

versus

Hmm ok

 

[Messugga]

Completely different market and product offering

Exactly. So to say EE beats them when they objectively don't in terms of income, the primary objective of a business, is silly.

 

[Speedster]

Exactly. So to say EE beats them when they objectively don't in terms of income, the primary objective of a business, is silly.

They beat them in client numbers in the retail sector. Until we have financials for EE and the banks' stock market product we are just guessing as to that metric.

 

[supersunbird]

I should have put all my money in Satrix S&P 500 and I would have been down only 2%, but nooooo, more than half went into EC10... which is down 41%.

 

[SauRoNZA]

Tried both ABSA and FNB and the experience was so atrocious I couldn’t understand how anyone even managed to use it never mind volunteered to.

And stupidly expensive in both cases.

Easy Equities all the way.

 

[Tun@]

Tried both ABSA and FNB and the experience was so atrocious I couldn’t understand how anyone even managed to use it never mind volunteered to

Absa dropped the web based system it used before & now trades via that Iress system in the lower vid above.

 

[SauRoNZA]

No mention of the main reason they're popular? Either the writer is totally clueless or they want to hide the fact that the other platforms are ridiculously priced.

The price isn’t the biggest pain and is somewhat negated at larger transaction levels…but the fact they were designed by people still think faxes are cool is the real problem.

I’ve never found anything almost impossible to use as I did FNB’s platform and then the ABSA one really wasn’t very far behind.

 

[SauRoNZA]

Absa dropped the web based system it used before & now trades via that Iress system in the lower vid above.

Is it any better though?

It has been a few years.

 

[The_Right_Honourable_Brit]

MyBBers ahead of the curve again

(The major EE thread was created in 2014).

 

[Mike Hoxbig]

EE is an investment platform, not a trading platform. Can't be bothered to read the rest if the headline can't even get it right. GT247 is a trading platform...

 

[Tun@]

Is it any better though?

It has been a few years.

Night & day ..... i 'd daytrade the US markets with that Iress system & be happy

 

[Speedster]

The price isn’t the biggest pain and is somewhat negated at larger transaction levels…but the fact they were designed by people still think faxes are cool is the real problem.

I’ve never found anything almost impossible to use as I did FNB’s platform and then the ABSA one really wasn’t very far behind.

I guess we all have our different preferences. The other platforms start at about R1000 p.a. in platform fees while EE is free. That alone is reason enough for me.

 

[Mike Hoxbig]

No mention of the main reason they're popular? Either the writer is totally clueless or they want to hide the fact that the other platforms are ridiculously priced.

Because actual trading platforms allow you to set your trading prices, and trade whenever you feel like. EE is limited to business hours. The disadvantage to this when trading should be obvious...