Review EasyEquities
Founded in 2014, EasyEquities aims to make equity investments accessible in South Africa with its Fractional Share Rights model. As a subsidiary of the JSE-listed Purple Group Ltd and an authorized financial service provider, it offers trading in South African and international stocks via EasyFX.
While its mobile app is beginner-friendly with educational resources, it lacks advanced features for experienced traders and has a limited product range. Customer support is restricted to ticket submissions on the website without live chat or 24/7 online assistance.
Recommended to:
EasyEquities suits new investors with its simple platform for market exposure and educational resources. Yet, experienced traders might find it lacking in advanced tools and product variety.
Pros
- No minimum first deposit
- Great educational materials for beginners
- Simple and easy set up procedure
Cons
- Limited product offerings
- No advanced trading platform
- Weak customer support
Review’s Keypoints
Country of regulation
South Africa, Australia
Minimum deposit
$0
Time to open an account
2-3 days
Trading fees class
Low
Deposit with bank card
Yes
Number of base currencies supported
5
Products offered
Stocks
ETFs
Baskets
Bundles
Crypto
Depositing with electronic wallet
Not available
Demo account provided
Yes
Fees
The sections below highlight the primary fees for each asset class. When considering investing with EasyEquities, pay attention to their higher commissions despite their lack of traditional fees or minimum requirements.
Pros
- Lack of inactivity fees
- Low stock and ETF fees
Cons
- Fees for deposits on debit/credit cards
EasyEquities Costs
- ***1000 in EUR or USD for the stocks transaction
- ***Price per contract for Options & Futures
Account
EasyEquities, a South African broker, permits foreign nationals in South Africa to open local accounts and those living abroad to open International USD or AUD accounts. However, it’s not clear if this applies globally, and account verification may take up to a week.
*If you are a South African citizen, you can also apply for a Tax-Free Savings Account (TFSA)
Retail
Retail
Kids
Kids
Corporate
Corporate
Click on the card to see details
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01Start online application
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02Choose account type
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03Verify suitability
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04Upload required documents
Transfers
EasyEquities facilitates free bank transfers for ZAR, AUD, and USD accounts. Credit card deposits in ZAR accounts incur fees. Withdrawals are free via bank transfer for all currencies except ZAR, where credit/debit cards are used with charges. Withdrawals take up to two working days and require an account in your name.
Pros
- Minimum deposit is $0
- Free wire withdrawals
Cons
- Limited choice of base currencies
- Bank transfers require days for processing
Trading Platforms
Web Trading Platform
EasyEquities' in-house web platform offers clear fee reports and decent search functions. However, it lacks two-step login, customization, and language options. The platform allows limited order types and time limits but lacks price alerts. Tracking costs and portfolio value is convenient.
Mobile Trading Platform
EasyEquities' mobile platform offers user-friendly trading, good search functions, and price alerts. However, it's only in English, lacks advanced order types, and has limited login options. The one-step login lacks biometric authentication. Alerts are available but limited to South African and Australian assets.
Desktop Trading Platform
Offering
Tools
Charting
Charting tools are poor since there are no indicators or trendlines to use and can only choose from 5 different time frames.
News Feed
You can access a link to Yahoo! Finance when you click on a stock, but there is no dedicated news flow section on the platform itself. EasyEquities offers a research portal with updates on economic conditions, market trends, and general investing commentary
Regulation
EasyEquities, regulated by ASIC and listed under Purple Group on the Johannesburg Stock Exchange, lacks investor protection against bankruptcy. Segregated assets might not be returned, and losses may not be compensated. It operates through First World Trader in South Africa, authorized by FSCA, and is a Corporate Authorised Representative of Sanlam Private Wealth (Pty) Ltd.
Bottom Line
EasyEquities, while popular in South Africa, falls short in its global product offering, limited to JSE and a few US stocks and ETFs. Experienced traders may find it lacking compared to other brokers. Its commission structure is relatively high, and customer support needs improvement.
Account opening is straightforward with no inactivity fees or minimum deposits for standard accounts, making it ideal for beginners.
Services are available only in English, so investors should be fluent in the language for optimal experience.