Which platform to use

[Freaksta]

We'll see. If you see a thread called "Avoid EasyEquities" you have the right to say I told you so.

BUT, now we wait for 15 Oct

I'm just concerned about getting the best purchase price. They don't guarantee what price they buy at or what they will sell at. Thus they could be making money here. I think I am still going to chuck some money into it though!

 

[HavocXphere]

So what is your platform then, if you feel like disclosing that.

Investec. Though thats beside the point - I'm not objecting to the platform but rather to the business model.

i.e.

Case A...go buy Kruger Rands.

Case B...invest in a company that promises to buy Kruger Rands on your behalf and transfer them to you once certain thresholds are reached (T&Cs may apply).

If you've got enough juice to buy the real deal then why take the risk?

 

[Pho3nix]

I'm not interested in ticking a tick box with FNB or STD Bank (I work on the OST project if it casts more light on the subject). I'm going to give these guys a try...worst case scenario is I lose some "play" money.

Now, if a share costs R21 and I trade R5000 I end up with 238 complete shares and 1 partial share/CFD. I'm not a fan of the idea but one partial share, even if you forfeit it, can't really do much damage in the bar d scheme of things.

Hope you don't mind me asking anything wrong with the OST trading suite for the blue place? Been considering using it.

 

[Freaksta]

Hope you don't mind me asking anything wrong with the OST trading suite for the blue place? Been considering using it.

To me the thing that gets me at all these places is the monthly fee... Yes with the blue place you don't pay it if your do three trades a month but to me that's to many.. I'll probably do max 1 to 2 a month. I am happy to pay the transaction fee but I don't see why I must pay R720 a year for a platform. They should recover that through trading fees, and say if a person doesn't trade once then charge the fee.

 

[Hamster]

Hope you don't mind me asking anything wrong with the OST trading suite for the blue place? Been considering using it.

There is nothing wrong with it, I've just never been a fan of the big blue. There are lots high profile traders using it so you can't go wrong with them (or any other bank) if you understand the costs involved.

 

[Freaksta]

There is nothing wrong with it, I've just never been a fan of the big blue. There are lots high profile traders using it so you can't go wrong with them (or any other bank) if you understand the costs involved.

Yup if you only doing one or two trades a month unless you have more than R100 000 it's not worth it in my opinion.. 1% which Is what the likes of Satrix take +- means the monthly fee only becomes effective at R72 000.

Slightly off topic has anyone ever transferred from Satrix to a trading account?

 

[HavocXphere]

Slightly off topic has anyone ever transferred from Satrix to a trading account?

No, but I'd imagine it'd be fairly trivial? Or rather no more hectic than any other transfer.

 

[Gnarls]

I'm already buying RMB. The reason I'm looking at this platform is because unlike some of the others there was no paperwork mess. Everything was online and anything I needed to send them was handled in hours. Was just easy...

Now, I really don't get what you are saying about single share. Who is buying or transferring a single share between platforms? If I do use their platform I'd go with R5k lump sum trades.

I dunno mate. Is the paperwork that bad? As far as I understand if you're on the Satrix platform, switching between ETF's is a relatively painless process.

 

[Hamster]

I dunno mate. Is the paperwork that bad? As far as I understand if you're on the Satrix platform, switching between ETF's is a relatively painless.

To me it is frustrating.

Regardless, no point in going to SATRIX. ETFSA, maybe. Will first give EasyEquities a try. If they ***** me over I'm out.

 

[Pho3nix]

To me it is frustrating.

Regardless, no point in going to SATRIX. ETFSA, maybe. Will first give EasyEquities a try. If they ***** me over I'm out.

Let us know how EasyEquities treats you.

 

[Hamster]

For anybody worried about Easy Equities, the results just came out and GT247 (EasyEquities is their product) is tied in third with FNB Securities as the top stock broker by their clients (Business Day).

Std Bank won and Sanlam was second.

 

[HavocXphere]

Link?

 

[Hamster]

Link?

Got it via email at work. Will see if I can find.

 

[Hamster]

http://mybroadband.co.za/vb/showthread.php?t=647022