Easy Equities: Good or Bad? Honest Review
Only a small percentage of South Africans are invested in financial instruments like stocks, bonds, and ETFs. But thanks to technology, it’s now easier to register on online platforms and start putting money in investment vehicles that can help South Africans reach their financial targets.
Easy Equities is one of the most popular investing platforms in South Africa. Many are drawn to the platform primarily because of its low fees.
Know more about Easy Equities and how it fares as an online investment platform as you read on.
What is Easy Equities?
EasyEquities is an online platform that enables South Africans to buy the shares of listed companies they know and trust. It’s designed for new investors who have limited capital to start investing in the stock market. Easy Equities also don’t charge monthly brokerage fees, giving seasoned investors a huge advantage in growing their wealth.
Registration is free of charge. There are no monthly fees that you need to worry about for managing investments.
Easy Equities provides a practice demo account for free on the platform. It will help you learn about the basics of investing, tracking your investments, and maximizing the features of the platform.
Once you’re ready to use real money, you can activate the live portfolio and choose which type of account to use in the platform. You can choose from ZAR Equity Account, USD Equity Account, and ZAR Tax-Free Savings Account to start investing.
Why Invest with Easy Equities?
Here are the main advantages of using the EasyEquities platform:
The biggest advantage of Easy Equities over competing platforms is its low broker fees. For every R100, you’ll only spend an additional 64c on broker charges.
With Easy Equities, you can buy shares at the fraction of their prices. This feature allows you to invest money in the stock market, regardless of how little money you have.
Baskets and Bundles
To make it easier for new investors to choose the right investment solution, Easy Equities offers Baskets and Bundles.
Baskets and Bundles are collections of hand-picked shares made by financial experts from Easy Equities. Each Basket and Bundle can be cheaply purchased, and the additional cost that goes to the asset manager who created the collection is very affordable.
Each Basket and Bundle is assigned a risk rating, so you can align your investments according to your personality and risk preference. If you don’t know your risk number, you can try the free calculator on the Easy Equities portal.
Aside from stocks, Baskets, and Bundles, EasyEquities also offer trading of Exchange-Traded Funds (ETFs). ETFs are perfect for investors who want to delve into different instruments like shares and bonds with ease.
Easy Equities also lets you buy assets offered in international markets. Your wealth creation becomes more diversified as you put your money not only on the local bourse but also in the growing markets abroad.
EasyEquities also provide blogs and video tutorials that are full of information on how to use the platform to get you a step closer toward your financial goals.
Automated portfolio management
Easy Equities can also help build your portfolio through low-cost investment plans suited to your risk profile and long-term goals. Investment periods range from 8 years up to retirement age, with varying initial investments and minimum monthly contributions. These financial products provide a worry-free solution for keeping your portfolio balanced and diversified.
EasyEquities got mixed reviews from its South African users. Here are the areas where the company shines and fails as an online investment platform.
EasyEquities has gained a lot of negative feedback when it comes to trading-related concerns. Many traders remain unsatisfied with the slow response of the customer service representatives in taking calls and responding to emails. Every second count for a trader and the inadequate process of Easy Equities for dealing with urgent matters has left customers irate.
Many users said they have logged several ticket requests throughout the week to no avail. Oftentimes, calls, chats, or emails can go for weeks with no response from the company.
Aside from the inconsistent customer service, some customers talked about the delayed update of stock prices and the constant lagging of the platform during market hours.
Some customers have lost money because of the unresponsive and slow update of prices on the platform. Even though these customers have portfolios showing a profit, they sold their stock positions at a loss because the real price of the stock is different from the one shown on the platform.
Once you get in touch with a consultant, you’ll experience a personalized service like no other. You’ll be welcomed by young, vibrant consultants who are easy to talk with. They’ll attend to your concerns immediately and there’s no need for rework. They can also guide you on how to set up a trading account and invest in a way that can help you reach financial stability.
In general, complaints are immediately resolved by consultants, providing an excellent turnaround time to customers. However, recently, there have been numerous instances when the customer service doesn’t respond on time. This has happened several times this 2020, probably because of limitations in staffing.
EasyEquities provides a simple and user-friendly platform for new investors to get into the stock market. Unlike other platforms that require large capital to open an account, Easy Equities entices South Africans to get invested for as low as R10 – no other platform provides this kind of feature.
If you’re new to the stock market, Easy Equities can be a suitable platform to get the hang of how to invest.
However, Easy Equities does have a couple of issues still with its bad customer service. The company is littered with complaints about having slow – or worse, unresponsive – consultants that are often out of reach in the most critical moments. Price updates on the platform are also too slow for quick executions.
If you’re an active trader looking for a very responsive platform and easily reachable consultants for fast executions, Easy Equities won’t live up to your expectations.