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Online Share Trading

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Easy Equities - updates since 2015?

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Blik2
Contributor

In 2015, there was a discussion going on about using Easy Equities.  Does anyone have any updates on the Easy Equities site; positives / negatives, principally for trading their USD account?

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5 REPLIES 5
Hoarfen
Contributor
Ive been using them for a month now to purchase their USD offerings and i found them to be cost effective and efficient.
Blik2
Contributor

For your USD account, do you need to have an offshore bank account?  Or can you trade the USD account, with a local bank account only?

Hoarfen
Solution
Contributor

you can transfer cash from an offshore account if you have one, but they now have introduced a mechanism which would convert your ZAR funded trading account which you must open with Easy Equities, into USD at a quoted rate on the day. Take a few days for the USD to appear in your account. Once there, you can start to invest in the US shares directly. Very simple. Have a look at their website which has an extensive FAQ.

Blik2
Contributor

Yip, just registered and it makes sense now

dreampunchboy
Occasional Visitor

If you are willing to wait anything from a few days to a few months to sell any shares you are in, then it's a good platform.

If **bleep** hits the fan and you want out within a few days you might not be able to.
I've had 2 bad experiences with them:

  • Waited 2 months without any communication nor any email replies to get my money out of an investment.
  • Incorrect growth was incurred (30% over 1 year) on a high risk, then got an email few months AFTER I withdrew the money
    stating they made a mistake and I owed them money.

Thus far I've found them super unprofessional and I would risk my money with them.
Rather use Standard Bank for shares and someone like Alan Gray for other types of investments where you have full control over both
and a great company behind it.