EasyEquities ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
EasyEquities is an online stock broker that allows you to buy shares in the brands and companies that you love. The broker provides you with a modern and user-friendly mobile investing platform for quick and easy market access so that you can carry out your transactions with minimal fuss. For as little as R5/$10 or whatever amount you are looking to invest, beginners and seasoned investors can grow their wealth, without any monthly brokerage fees. I like how they provide a good range of educational resources to help educate users so that they can make informed decision. You will also find a decent selection of handy trading tools to help you find investment opportunities related to your financial goals. This is all back up by the services of a knowledgeable client support team who are on hand to assist as and when needed.
Pros & Cons
- Simple and modern mobile investing platform
- Easy and affordable investing for everyone
- No minimums, no monthly fees and low commissions
- Fraction shares to invest from as little as $10
- Great selection of educational resources
- Engaging customer support
- Limited deposit and withdrawal options
- Instruments are limited to stocks only
- Lack of comprehensive market analysis tools
- Cannot accept clients from some countries
Built on the core values of openness and transparency, EasyEquities is an online financial services provider that is focused on removing the barriers to entry in local and international stock markets, attempting to make the purchase of shares accessible, cheap and fun. Headquartered in Johannesburg, South Africa, the EasyEquities investment platform allows you to own parts of a company (shares) from just R5/$10. They make it easy and more affordable to buy shares in local and international stock markets that you may have otherwise not have been able to access. If you haven’t invested before, they can help you learn the ropes with practise money in your demo account so you can get the hang of investing before making a commitment.
When it comes to choosing a broker, regulation is one of the most important things to look out for. I would always prefer to use a regulated broker as they should be following rules and procedures that have been put in place to protect investors. EasyEquities (EE), a subsidiary of JSE listed Purple Group Limited (PPE) is licensed by the Financial Sector Conduct Authority (FSCA). I personally consider this to be good regulation and thus would not have any problem trusting them.
EasyEquities offers its services to residents of most countries and jurisdictions, provided that the use of such services would not be contrary to any local laws or regulations. If you don’t have a SA bank account you will still be able to register for an EasyEquities account. However, you will only have access to international accounts and will not be issued with a South African ZAR account. If you discover that they cannot accept users from your country, please feel free to browse our broker ratings for an alternative option instead.
The EasyEquities platform enables users to invest in securities which includes whole shares and fractional share rights (FSRs). You can buy stocks from your favourite companies via an easy to use mobile investing app that is compatible with smart phone devices running on Android and iOS. It can be downloaded from the relevant app stores and used to place trades and check trading positions even while on the move, provided there is an internet connection. The app is quite basic which is a good thing if you are looking for an easy way to invest and already have an idea of what companies you are looking to invest in. However, you want find a plethora of tools for complex market analysis. For that, you might want to take a look at our best trading platforms. Otherwise, the EasyEquities app is ideal for anyone who wants to trade and invest with minimal fuss.
In addition to the various built-in tools of the EasyEquities App, you are provided with some standalone trading tools to help you analyse the markets, find opportunities and get the best out of your investments. These tools include the risk analysis tool that allows you to get your risk number, which you can use to guide investment picks. Other than that, I did find the tools to be slightly limited. If you are looking to get your hands on as many tools as possible for researching and analysing stocks, you might want to consider IG as an alternative. That being said, EasyEquities are geared more towards easy investing, hence it is normal not to expect a ton of complicated tools.
This is an area in which I feel they really excel. I was pleased to see that there are plenty of educational resources on the EasyEquities website. The educational materials are aimed at improving your trading skills and knowledge, regardless of your experience level. Amongst the vast array of content you will find learning articles, trading guides, video tutorials, blogs, podcasts, research & analysis, trading academy and economic news that keeps traders in the know of the latest happenings in the financial markets.
EasyEquities only offers access to trade and invest in stocks from a range of popular companies around the globe. You can invest in fractional shares of companies which is great but I found the range of financial instruments to be lacking if you are looking to trade or invest in other markets. There are no forex pairs, commodities or cryptos available. For a greater variety of tradeable instrument, you might want to consider AvaTrade instead. If you are only looking to buy stocks, then there should be plenty of choice.
The account options available at EasyEquities are the easy equities account, demo account, and tax-free savings account. The minimum deposit required to start trading is low at just $10. This is good when you consider that some brokers require a minimum investment in the hundreds if not thousands. You’ll need to complete your profile to activate your live account. You can manage and activate your accounts at any time from within your account settings. You can choose which accounts you’d like to activate from the following:
- ZAR Equity Account
- USD Equity Account
- AUD Equity Account
- ZAR Tax-Free Savings Account
- RA Account
Thrive is EasyEquities’ loyalty program, designed so that you can earn up to 100% discount in brokerage on the Thrive stocks. There are 4 different activities which each give you their own level of reward if all the tasks in the activity are completed. Each challenge carries a discount in brokerage – complete the challenge to earn its discount. You can keep track of your completed and outstanding challenges and how much brokerage discount you qualify for. This can be viewed in your EasyEquities account.
The customer support team is always available to respond to clients’ general, technical, and account-related inquiries. The support team can be reached through the following contact channels: telephone, email, social media, and support ticket. I like how they are fully focused on delivering an online experience that is easy and engaging, which is why their team is constantly developing new products and services based on user feedback and suggestions.
There are a few ways that you can fund your different accounts, including bank transfer and card payments. Bank transfers may take up to 2-3 business days to reflect in your EasyEquities account. The correct account number must be used as a reference to ensure the funds are allocated to the correct account. I think they could improve by adding support for some digital wallets and even crypto payment. I find that bank transfers can take while to clear which means that I may miss an opportunity if I don’t have the funds readily available. FXTM on the other hand do have a good selection of funding options including digital wallets.
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
EasyEquities aims to disrupt and remove the barriers to entry in local and international stock markets, making the purchase of shares easy, cheap and fun, and ensuring that anyone can own shares in the companies they love. However, I feel they don’t have the platforms and tools for those of you who are active traders with more demanding needs. The instruments are limited to stocks only and they could add some more payment options. I think they can be a suitable solution for those who are looking to invest a small amount and purchase fractional shares via a user-friendly mobile app. They do give you access to some educational resources and the services of a responsive client support team. There is a free demo account if you want to give them a try, alternatively you can browse our best brokers for some other options.
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