Yeah, that's enough for me to start looking for an alternative platform - the last thing I want when trying to create financial stability is a gamified platform, like Discovery where I constantly have to jump through hoops to avoid paying costs.
Exactly right! You want to spend your time searching for the right investments and growing your wealth and tracking the markets. The last thing we want to spend our time on now is jumping around trying to find ways to reach the next thrive level every month. 🤷♂️ agree!
Right now in South Africa with everything going on, we don't need more fees now. Yes there are ways to avoid it, but still we need to jump through all these hoops. No man, what is EE thinking 😄
There are so much for South Africans to worry about, not least of all cost of living increases and inflation all around. I don't think they read the room properly 😂
Thank you for this video. Briefly read their email realised its a monthly fee and made a mental note that I now need to go and figure this out. Your video saved time and emotional energy! Thanks!!
No problem at all, I only saw it on social media with people raising it. I didn't initially think an email called "thrive to remain free" would contain something like that in it 👍
What are the available alternatives to EE if one decides to jump ship? And the pros and cons of the alternatives compared to EE. Only started investing with EE so I have no clue about alternative platforms.
As per your other comment, as long as you are depositing monthly and not withdrawing then you should be fine. But another option I have seen is "Clarity by Investec", which has zero fees. But I have not used it yet :)
Very disappointed. What makes me uncomfortable is that if this is a membership fee, we can expect membership fees to increase year on year. So R25 now could be R50 in a few years, robbing any dividend re-investment on smaller amounts. I just started using this platform as an experiment apart from my etfSA investments - depositing one amount and learning how the market works. But I've already started the process to close the account and head back to etfSA. We need to save on fees to get maximum compound growth and membership fees aren't the way to do that. Thanks for the video!
Most definitely. These things add up, especially when you're looking to make long term returns. Perhaps also look at "Clarity by Investec" also a fee free platform.
This is ridiculous from EE. I understand what they are trying (changing people's behavior for good) to do but once you retire you will keep on paying the fee because you will be withdrawing more than depositing and all your referrals will be used up and you will have watched all the training already and I bet you in 30 Years to 60 years time the R25 now will feel way worse if it seems somewhat affordable now. I will wait for the 1st Robinhood to open in South Africa and move all my money. People are trying to invest in their future not to be better people (ie investing every month instead of a once-off, giving back 1 point, or using below-par products just to save R25 pm) stop trying to change people to comply with EE. They are basically saying cheers to old people on our platform or pay me.
You are absolutely right. I also see what they are trying to do, change people's behaviour for the good. But what I don't like is they don't give people the choice. Instead they threaten a fee if they don't do it. That's not the right way. And you are exactly right, if you are taking out money, you get penalized. So what if you donate a large sum in order to receive dividends every month. It makes no sense. Completely, whenever the Robinhood equivalent comes around people will go to what makes the most sense and saves them the most money. Absolutely agree 👍
Informative as usual and think you are right.. I am about to start my journey as I have been watching your channel and now I feel like trust has been broken. Let’s get real. They are service providers so they can make money and this seems a bit dirty especially in the wake of Purple group collapsing.. perhaps a pump and dump on their side and now they need to cover lost income.. this is a business ultimately that they are running and although under the vail of giving us a great product, they seemed to be behaving like most sketchy corporates once they have enough customers and running out original ideas.. I am now wondering if EE is the place to invest and will look at other alternatives first.. eish just when you think you have a company doing things differently, they all act the same way in the end.. Their entire staff will push this narrative as they get paid to do so… oh well.. Thanks Chris as always!!!
Most definitely, it is going against the very thing that made them popular in the first place. Which is what I don't understand, if they have a winning formula, both for themselves and their customers are happy. Why change it now? Why break that trust and goodwill with your customers. For now I'll still use them, but should Robinhood or something similar pop up, I think a lot of people will move on over to it.
@@CasualCash Also agree and thank you for your response!! This is how competitors get into a market . But what do I know, surely they looked at this from all angles? The SA crowd is very funny about things like this so if I were in a position of influence I would caution the Team and start working on gaining the trust back… thanks for an awesome show and been a great mentor to follow!!
Awesome content Chris but please consider upgrading sound quality by lav mic or condenser mic (lavs are cheap). See it as an investment 😉☺️🙏🏼 Love the content man.
Thank you so much for the feedback. I really appreciate it :) As a fellow content creator yourself, with using a lav/condenser mic - how easy do you find it to sync the audio to the video in editing? As I have to split and chop up the video to remove certain parts, is it easy to work with a separate audio file? How do you do it for your videos? Thanks again.
Anyone else notice all the thrive stocks benefit easy equities and their partners? Capitec, Discovery, Sanlam, Bidvest to name a few... is that really helping clients thrive or yourself?
😢unnecessary it's a Daylight robbery, they should stop trademarking them as "Easy " because as for someone dependent on the dividend it will take full loaf of bread every month. Investors should think twice 😢.
That's a great question. I have started looking at other platforms for that side of my investing. I just released a video yesterday on another platform which charges no fees. Perhaps take a look? Otherwise we can look at other options
I think it might get sticky in the long run, that R25 will increase with time. It is about making more money because I head the CEO say that it's not applicable to RAs because they have a fee built in already but all the other investments would be affected, so why are they lying
It does seem that way, even in the COOs email he mentioned "looking at customer profitability". It's a pity because it seems like they are forgetting what allowed them to build what they already have, investing with no monthly fees. Now they're turning their back on that for profits. Not their best foot forward 🤷♂️
I get the feeling of betrayal on this. But what's the better alternative? I don't know of a platform with cheaper fees. I also hate the jumping through hoops game, but if i need to do it for my own benefit, I'll do it. Last I checked EE had the most economical fees for tax free contributions. Surely the simplistic solution to voiding the R25 fee is is contribute monthly into your TFSA?
Well another platform is "Clarity by Investec" which has absolutely no fees. And you are right, there are some very simple ways to avoid the fee. Some people might not mind that, and for others, as you mentioned it is the annoyance of the hoops every month. But there are ways to avoid the fee, and other platform options as well. We all just need to see which we prefer :)
EasyEquities is still a good platform, and there are ways around the fee so you do not have to pay it. I will still be staying with them for now. But another platform I have been seeing is "Clarity by Investec" which is completely free :) Best of luck when you start. Let me know if ever you have any questions.
I'm not too sure. This is thing is so new that everyone I think is still trying to figure it all out 🤔. Maybe give it a day or two to reflect before trying again?
I'm going to continue to use EE for now. Luckily I don't think there should be many months where I would have to pay the fee. But I have also been looking at "Clarity by Investec" which has zero fees as a nice alternative :) but will have to see how EE goes in the future.
Thanks for the update. I would have gone with an incentivized method rather, further discount on broker fees en such. The FX is still lacking, in slow transfers and limitations between EE and EC.
I agree 100%. Would have definitely been the better way to do it. Yes the FX is still slow, but try doing the transfer first thing in the morning and it usually goes a bit faster :)
I'm feeling so discouraged. I really thought it would be as easy as depositing money monthly to get level 3, but it is almost impossible without making my life difficult. Im going to give it a month or two but I'm thinking of moving platforms..any advice??
Ok wait, I've checked and it says you need to maintain a positive balance of depositing for a month ie not withdraw more than you put in, and then the level 3 will kick in. So I'll check in with you in a months time 😂😂
So as long as that R500 a month is more than you are withdrawing, then you will not have the pay the fee. Even if you deposit R1 a month, and withdraw nothing then you will not have to pay the fee. Hm, perhaps in the spam folder?
Nice one. Really cuts through the noise. So strat 1 is putting in money monthly. Perhaps even R100 But when is the cut off date for the monthly investment?
So the cut-off date for registering would essentially be the end of the month. So if it is within the month it will count. And yes if you are not withdrawing, even R1 would be enough. Thanks so much :)
You're most welcome, I love being part of this community 😊 I couldn't agree more. We should be spending our time researching and building our portfolio, not jumping around trying to avoid fees every month 😄
They are trying the stick because the carrot didn't work, but the real problem was the carrot was shit. It was never worth doing the Thrive nonsense because the reward for it was....discounted brokerage on limited and selected stocks? If you gave me free brokerage on ALL stocks and discounted forex fees, that might've been enough for me to consider doing the hoops.
Im very dissapointed. I opened a TFSA deposit 36000 and my balance reflected less. Meaning i couldnt max out my annual TFSA investment. Now i deposit again 36000 and the same happened. This is annoying and what is even more annoying is that there is nobody that i can speak to over the phone to explain. This is very impersonal doing business like this. If Easy Equities take business serious they wont penalise me for having a TFSA and I think im more than likely taking my business elsewhere
Thanks. All this effort to save a R25 fee. Not worth it. That’s my problem with all these reward programs and one of the main reasons I don’t bother with any of them anymore. I’m surprised you never covered what it would mean to liquidate all your shares on EE. Trust has been broken and I will start looking at liquidating and moving all my money. Bye bye EE.
That's a very good point about potentially covering liquidating all the shares. It is still early and we will have to see if EE does anything in the weeks to come to change peoples minds. Maybe they will, maybe they wont. But also if you do want to change platforms you can just transfer your shares to another broker without having to sell :) I have been seeing "Clarity by Investec" which has zero fees.
Greed. Purple group made a loss and we suffer the consequences. We also lost when markets dipped We pay brokerage fees which are at times inflated. Pure greed. Waiting for another platform to offer something better than EE
I think a lot of people are taking their money elsewhere now due to the markets, inflation, and interest rates so they're trying to discourage the behavior. Its possible that when tje situation gets better then they'll cancel it but its still a bad business practice in my opinion
It definitely is possible that they may cancel it. Especially after this backlash. But i think it would be very hard for them to do the u-turn publicly. But i guess we will have to see.
R25 is not a lot to pay but like you say, their approach to this was wrong and then they go with a statement that they will put their dirty hands in your investments to pay that fee if you dont. Then we all know what happens when a fee starts, they hook you and then sink you with yearly increases. Touchy subject and a very sad approach from them, but then again this is still the cheapest platform in SA ATM. Thank for the video.
Is not a lot for someone who has a million in their portfolio. But what about someone who has only a R1000? By 12 months they would have lost 300 (30%) on these fees. Also is just a lot of work, I just want to invest and relax
Absolutely. The fee is either a lot or a little, depending on who you are and how much you have. But the approach and u-turn they made was dissapointing. I have been seeing "Clarity by Investec" which has zero fees. Starting to slowly look into them. But i will still be with EE for now.
I completely agree. The more choice people have, the more they will want to invest. Like you said, ADD more for the customer. Encourage good investing. I don't like them putting negative punishments in place essentially 😄 definitely!
This thrive is an absolute nonsense and its giving ANC vibes. Our profits will be wiped away by this R25!!! We won the etolls battle and now this!!!!Can you make a video on alternative platforms please
If you watch the video after this I go into Brokstock. You can get a free R100 to try them out. So it's a good deal. Check out the video, and click on the link in the description and you can get a free R100 and they don't charge any monthly fees 😊
If all I have to do is deposit more than I withdraw then Im safe. Im still new in this and my portfolio is still has a long way to go so monthly deposits are my way to go. Im not even at 5 digits yet so I deposit monthly. I should be safe for now I guess. 🤔🤔👍👍👍
No you are not safe. That's what I thought but you have to do a whole bunch of different things to achieve your "badge". Look at "my thrive" under settings and see what they want you to do to achieve level 3 it's virtually impossible
@@maryannecomrie8611 Hi. Thanks for your response. I read this on the Thrive link: "Deposit money into your EasyEquities account every month and ensure that the total amount you deposit during the month exceeds any money you withdraw from the platform in the same month. By maintaining a positive net deposit balance for the month, you earn 3 Thrive levels progress, which qualifies you as a Thrivalist and unlocks associated benefits, including a 30% brokerage discount on Thrive Stocks the following month." To me that means to deposit more than you withdraw already gives you 3 Levels.
Ok I've deposited money and I think as long as you don't withdraw more than you put in and maintain that for the month you should be safe. I literally put in 20 rand. So let's see in a months time if it works!
@@maryannecomrie8611 They say as little as R1 is enough so we are safe. I think I deposited R150 for the month of Oct will be making another small deposit next week. 👍👍
I think you are right. if you are depositing every month and not withdrawing, then you should be fine. But i guess we'll have to test and make sure of it.
Yeah i will start looking for an alt platform this is breach of contract. And them saying the fee is flexible means they can increase it when ever they want. Such shitty behavior is not the sort of people i want to give my money to.
It’s misleading to say easy equity is no more free …IT WAS NEVER FREE …when you sell or buy you get charged a fee …now on top of that we gonna be charged a monthly fee
Hahahaha in a sense yes :) i guess it was meant to say the platform itself was free. But yes, they are now bringing in fees on both ends. From both trading fees and a monthly fee.
Haha I know it doesn't seem like a lot. But for some people starting out it is quite a bit. And I think for me at least, it goes against what they initially promised their customers when they started. 😄
I respectfully disagree. The EE platform has opened doors for many who might not have ventured into the stock market before, offering an accessible entry point. A mere R25 is a small amount considering the platform's value. It's challenging to satisfy everyone, but in my opinion, EE offers a top-tier platform for investment. If one finds R25 too steep, perhaps they should reconsider their investment strategy.@@CasualCash
*Unpopular opinion: I must say I don’t see why people are so upset. We are willing to pay R1000’s on streaming platforms but can’t invest R25.00 into our financial futures? EE is a business and needs to remain profitable in order to provide us with service. I am happy to pay the R25.00 if it means that EE is able to continue to provide a great service. I think the thing they got wrong was how they delivered this news to the market… but honestly R25.00 is negligible!
I definitely agree with what you say, the R25 is really not a lot. And there are plenty of ways to avoid it. But yes, the delivery was not great and it is a bit of a u-turn from their initial promise as a platform. But not impossible to navigate around the fee and it is not a lot if you need to pay it.
Yeah, that's enough for me to start looking for an alternative platform - the last thing I want when trying to create financial stability is a gamified platform, like Discovery where I constantly have to jump through hoops to avoid paying costs.
Exactly right! You want to spend your time searching for the right investments and growing your wealth and tracking the markets. The last thing we want to spend our time on now is jumping around trying to find ways to reach the next thrive level every month. 🤷♂️ agree!
Standard Bank got us🎉
@@Motswako_Wa_AfricaStandard bank might also change tactics in the future. No one signed up for this.
Right now in South Africa with everything going on, we don't need more fees now. Yes there are ways to avoid it, but still we need to jump through all these hoops. No man, what is EE thinking 😄
There are so much for South Africans to worry about, not least of all cost of living increases and inflation all around. I don't think they read the room properly 😂
Thank you for this video. Briefly read their email realised its a monthly fee and made a mental note that I now need to go and figure this out. Your video saved time and emotional energy! Thanks!!
Haha thank you so much, happy to help :)
thank you for bringing this to our attention. i completely missed this.
No problem at all, I only saw it on social media with people raising it. I didn't initially think an email called "thrive to remain free" would contain something like that in it 👍
What are the available alternatives to EE if one decides to jump ship? And the pros and cons of the alternatives compared to EE. Only started investing with EE so I have no clue about alternative platforms.
As per your other comment, as long as you are depositing monthly and not withdrawing then you should be fine. But another option I have seen is "Clarity by Investec", which has zero fees. But I have not used it yet :)
@@CasualCash Thanks. I guess thats your homework for the next video, the Investec platform. 😁😁 Thanks again, will check it out.
@@ThaboMashiloane😂😂I’m with you.
Very disappointed. What makes me uncomfortable is that if this is a membership fee, we can expect membership fees to increase year on year. So R25 now could be R50 in a few years, robbing any dividend re-investment on smaller amounts. I just started using this platform as an experiment apart from my etfSA investments - depositing one amount and learning how the market works. But I've already started the process to close the account and head back to etfSA. We need to save on fees to get maximum compound growth and membership fees aren't the way to do that. Thanks for the video!
Most definitely. These things add up, especially when you're looking to make long term returns. Perhaps also look at "Clarity by Investec" also a fee free platform.
Been planning on using the platform but those fees have made me think twice
Thank you for your informative video. This is so sad from Easy Equities. I've introduced so many people to this platform, telling them it's free😢
Thank you this is so informative. Im also looking for an alternative platform in invest.
You're doing the Lord's work. Very on point, informative and useful info not available anywhere else.
I appreciate that! Really glad you are enjoying it :)
Hi, thanks for the video, one question, if I deposit atleast one rand and don't withdraw then no thrive fee? Or do I have to do all those things?
This is ridiculous from EE. I understand what they are trying (changing people's behavior for good) to do but once you retire you will keep on paying the fee because you will be withdrawing more than depositing and all your referrals will be used up and you will have watched all the training already and I bet you in 30 Years to 60 years time the R25 now will feel way worse if it seems somewhat affordable now. I will wait for the 1st Robinhood to open in South Africa and move all my money. People are trying to invest in their future not to be better people (ie investing every month instead of a once-off, giving back 1 point, or using below-par products just to save R25 pm) stop trying to change people to comply with EE. They are basically saying cheers to old people on our platform or pay me.
You are absolutely right. I also see what they are trying to do, change people's behaviour for the good. But what I don't like is they don't give people the choice. Instead they threaten a fee if they don't do it. That's not the right way. And you are exactly right, if you are taking out money, you get penalized. So what if you donate a large sum in order to receive dividends every month. It makes no sense.
Completely, whenever the Robinhood equivalent comes around people will go to what makes the most sense and saves them the most money. Absolutely agree 👍
Hello Casual Cash, have you discussed the EasyCredit service on EasyEquities?
Informative as usual and think you are right.. I am about to start my journey as I have been watching your channel and now I feel like trust has been broken. Let’s get real. They are service providers so they can make money and this seems a bit dirty especially in the wake of Purple group collapsing.. perhaps a pump and dump on their side and now they need to cover lost income.. this is a business ultimately that they are running and although under the vail of giving us a great product, they seemed to be behaving like most sketchy corporates once they have enough customers and running out original ideas.. I am now wondering if EE is the place to invest and will look at other alternatives first.. eish just when you think you have a company doing things differently, they all act the same way in the end.. Their entire staff will push this narrative as they get paid to do so… oh well.. Thanks Chris as always!!!
Most definitely, it is going against the very thing that made them popular in the first place. Which is what I don't understand, if they have a winning formula, both for themselves and their customers are happy. Why change it now? Why break that trust and goodwill with your customers. For now I'll still use them, but should Robinhood or something similar pop up, I think a lot of people will move on over to it.
@@CasualCash Also agree and thank you for your response!! This is how competitors get into a market . But what do I know, surely they looked at this from all angles? The SA crowd is very funny about things like this so if I were in a position of influence I would caution the Team and start working on gaining the trust back… thanks for an awesome show and been a great mentor to follow!!
Awesome content Chris but please consider upgrading sound quality by lav mic or condenser mic (lavs are cheap). See it as an investment 😉☺️🙏🏼 Love the content man.
Thank you so much for the feedback. I really appreciate it :) As a fellow content creator yourself, with using a lav/condenser mic - how easy do you find it to sync the audio to the video in editing? As I have to split and chop up the video to remove certain parts, is it easy to work with a separate audio file? How do you do it for your videos? Thanks again.
Anyone else notice all the thrive stocks benefit easy equities and their partners? Capitec, Discovery, Sanlam, Bidvest to name a few... is that really helping clients thrive or yourself?
😢unnecessary it's a Daylight robbery, they should stop trademarking them as "Easy " because as for someone dependent on the dividend it will take full loaf of bread every month. Investors should think twice 😢.
Hahaha i completely agree, they really took the "easy" out of EasyEquities.
But what alternatives is there to invest in south african stocks?
Commenting to see the answers!
@CasualCash, what other platform/s are there for us South African's to use? I missed this completely and think this is BS.
What advice would you give to people who don't deposit money everymonth on easyequities or those who have small portfolios?
That's a great question. I have started looking at other platforms for that side of my investing. I just released a video yesterday on another platform which charges no fees. Perhaps take a look? Otherwise we can look at other options
@@CasualCash Alright thank you alot
I think it might get sticky in the long run, that R25 will increase with time. It is about making more money because I head the CEO say that it's not applicable to RAs because they have a fee built in already but all the other investments would be affected, so why are they lying
It does seem that way, even in the COOs email he mentioned "looking at customer profitability". It's a pity because it seems like they are forgetting what allowed them to build what they already have, investing with no monthly fees. Now they're turning their back on that for profits. Not their best foot forward 🤷♂️
I get the feeling of betrayal on this. But what's the better alternative? I don't know of a platform with cheaper fees.
I also hate the jumping through hoops game, but if i need to do it for my own benefit, I'll do it. Last I checked EE had the most economical fees for tax free contributions. Surely the simplistic solution to voiding the R25 fee is is contribute monthly into your TFSA?
Well another platform is "Clarity by Investec" which has absolutely no fees. And you are right, there are some very simple ways to avoid the fee. Some people might not mind that, and for others, as you mentioned it is the annoyance of the hoops every month. But there are ways to avoid the fee, and other platform options as well. We all just need to see which we prefer :)
Do you think i will still be fine if i did a lump sum investment on one specific stock on EE? I don't withdraw monthly at all
What EE groups are you referring to? Looking to find local like minded peeps.
Hey, so just go onto Facebook and search "EasyEquities Updates 2". There are about 35,000 people in the group :)
Do you know any other free sites (Im 17 and i was thinking of starting to invest when im 18 next year April) i wanna know where to start when i start
EasyEquities is still a good platform, and there are ways around the fee so you do not have to pay it. I will still be staying with them for now. But another platform I have been seeing is "Clarity by Investec" which is completely free :) Best of luck when you start. Let me know if ever you have any questions.
I dont know why but my thrive thing is not evens working i did the academy thing and refer a friend but it still says incomplete
I'm not too sure. This is thing is so new that everyone I think is still trying to figure it all out 🤔. Maybe give it a day or two to reflect before trying again?
are you going to continue using EE or are you going to change to a different investing platform? if so which one
I'm going to continue to use EE for now. Luckily I don't think there should be many months where I would have to pay the fee. But I have also been looking at "Clarity by Investec" which has zero fees as a nice alternative :) but will have to see how EE goes in the future.
how can one move without losing money?@@CasualCash
Can you please do a video on Easy credit where u use ur shares as collateral to get a loan 🙏
Very interesting stuff! I haven't actually looked into it yet, but i'll have a look and see what I can do :)
Anyone know how to completely close a EasyEquities account ? Can’t find any email support
Thanks for the update.
I would have gone with an incentivized method rather, further discount on broker fees en such.
The FX is still lacking, in slow transfers and limitations between EE and EC.
I agree 100%. Would have definitely been the better way to do it. Yes the FX is still slow, but try doing the transfer first thing in the morning and it usually goes a bit faster :)
Some of us are students trying to learn and invest, the capital is now even that much..now we have to pay a fee?
Absolutely! For those trying to build a portfolio, the fees really do not help with that.
I'm feeling so discouraged. I really thought it would be as easy as depositing money monthly to get level 3, but it is almost impossible without making my life difficult. Im going to give it a month or two but I'm thinking of moving platforms..any advice??
Ok wait, I've checked and it says you need to maintain a positive balance of depositing for a month ie not withdraw more than you put in, and then the level 3 will kick in. So I'll check in with you in a months time 😂😂
Haha perfect, hope everything goes well and the way it should :) let me know if there is any issues. Curious to see :)
Replied below :)
Thank you so much, I'll not be leaving easy equities juuuuust yet
Thanks for the informative content. Any Alternatives?
"Clarity by Investec" seems to look quite good. It has absolutely zero fees and run by a big company. But I haven't tried it out yet :)
What are the alternate options for us right now? I’ll be looking to move
I've been seeing "Clarity by Investec" which has absolutely zero fees. It is an option, but i havent used them yet.
@@CasualCash thank you, let me check it out
so wait if im investing 500 per month what happens then? i also checked my email and I did not receive anything
So as long as that R500 a month is more than you are withdrawing, then you will not have the pay the fee. Even if you deposit R1 a month, and withdraw nothing then you will not have to pay the fee. Hm, perhaps in the spam folder?
Nice one. Really cuts through the noise. So strat 1 is putting in money monthly. Perhaps even R100
But when is the cut off date for the monthly investment?
So the cut-off date for registering would essentially be the end of the month. So if it is within the month it will count. And yes if you are not withdrawing, even R1 would be enough. Thanks so much :)
@@CasualCash top stuff.
Thank you for making these videos hoenslty appreciate you as a South African Stock investing has unnecessary hoops to jump through.
You're most welcome, I love being part of this community 😊 I couldn't agree more. We should be spending our time researching and building our portfolio, not jumping around trying to avoid fees every month 😄
@@CasualCash hey do you know any resources or anything somoene can read to know more about investing.
Really insightful and helpful. Thank you!
Glad it was helpful!
But thank you for taking the time to share your thoughts and ideas, it is appreciated
Thank you, always 😊👍
They already charge us transaction costs, reoccurring costs costs for everything and now this??
It is a bit of a poor move on their part. It really is.
They are trying the stick because the carrot didn't work, but the real problem was the carrot was shit. It was never worth doing the Thrive nonsense because the reward for it was....discounted brokerage on limited and selected stocks? If you gave me free brokerage on ALL stocks and discounted forex fees, that might've been enough for me to consider doing the hoops.
Great point! Couldn't agree more 🙌
Im very dissapointed. I opened a TFSA deposit 36000 and my balance reflected less. Meaning i couldnt max out my annual TFSA investment. Now i deposit again 36000 and the same happened. This is annoying and what is even more annoying is that there is nobody that i can speak to over the phone to explain. This is very impersonal doing business like this. If Easy Equities take business serious they wont penalise me for having a TFSA and I think im more than likely taking my business elsewhere
Thanks. All this effort to save a R25 fee. Not worth it. That’s my problem with all these reward programs and one of the main reasons I don’t bother with any of them anymore. I’m surprised you never covered what it would mean to liquidate all your shares on EE. Trust has been broken and I will start looking at liquidating and moving all my money. Bye bye EE.
That's a very good point about potentially covering liquidating all the shares. It is still early and we will have to see if EE does anything in the weeks to come to change peoples minds. Maybe they will, maybe they wont. But also if you do want to change platforms you can just transfer your shares to another broker without having to sell :) I have been seeing "Clarity by Investec" which has zero fees.
Thank You Chris 🎉
You are so welcome :)
And I haven’t seen any of my dividends on my account because they are taken by these fees
Greed. Purple group made a loss and we suffer the consequences. We also lost when markets dipped We pay brokerage fees which are at times inflated. Pure greed. Waiting for another platform to offer something better than EE
Great explanation, thank you
😊👊
Thanks for the video
You're welcome 🤗
I think a lot of people are taking their money elsewhere now due to the markets, inflation, and interest rates so they're trying to discourage the behavior. Its possible that when tje situation gets better then they'll cancel it but its still a bad business practice in my opinion
It definitely is possible that they may cancel it. Especially after this backlash. But i think it would be very hard for them to do the u-turn publicly. But i guess we will have to see.
They are being dishonest, that's what I don't like. They should have told us the truth not this dancing around
R25 is not a lot to pay but like you say, their approach to this was wrong and then they go with a statement that they will put their dirty hands in your investments to pay that fee if you dont. Then we all know what happens when a fee starts, they hook you and then sink you with yearly increases. Touchy subject and a very sad approach from them, but then again this is still the cheapest platform in SA ATM. Thank for the video.
Is not a lot for someone who has a million in their portfolio. But what about someone who has only a R1000? By 12 months they would have lost 300 (30%) on these fees. Also is just a lot of work, I just want to invest and relax
Absolutely. The fee is either a lot or a little, depending on who you are and how much you have. But the approach and u-turn they made was dissapointing. I have been seeing "Clarity by Investec" which has zero fees. Starting to slowly look into them. But i will still be with EE for now.
Great content thank u I think the only way to encourage customers investment is to introduce new products,companies and economies
I completely agree. The more choice people have, the more they will want to invest. Like you said, ADD more for the customer. Encourage good investing. I don't like them putting negative punishments in place essentially 😄 definitely!
This thrive is an absolute nonsense and its giving ANC vibes. Our profits will be wiped away by this R25!!! We won the etolls battle and now this!!!!Can you make a video on alternative platforms please
If you watch the video after this I go into Brokstock. You can get a free R100 to try them out. So it's a good deal. Check out the video, and click on the link in the description and you can get a free R100 and they don't charge any monthly fees 😊
If all I have to do is deposit more than I withdraw then Im safe. Im still new in this and my portfolio is still has a long way to go so monthly deposits are my way to go. Im not even at 5 digits yet so I deposit monthly. I should be safe for now I guess. 🤔🤔👍👍👍
No you are not safe. That's what I thought but you have to do a whole bunch of different things to achieve your "badge". Look at "my thrive" under settings and see what they want you to do to achieve level 3 it's virtually impossible
@@maryannecomrie8611 Hi. Thanks for your response. I read this on the Thrive link: "Deposit money into your EasyEquities account every month and ensure that the total amount you deposit during the month exceeds any money you withdraw from the platform in the same month. By maintaining a positive net deposit balance for the month, you earn 3 Thrive levels progress, which qualifies you as a Thrivalist and unlocks associated benefits, including a 30% brokerage discount on Thrive Stocks the following month."
To me that means to deposit more than you withdraw already gives you 3 Levels.
Ok I've deposited money and I think as long as you don't withdraw more than you put in and maintain that for the month you should be safe. I literally put in 20 rand. So let's see in a months time if it works!
@@maryannecomrie8611 They say as little as R1 is enough so we are safe. I think I deposited R150 for the month of Oct will be making another small deposit next week. 👍👍
I think you are right. if you are depositing every month and not withdrawing, then you should be fine. But i guess we'll have to test and make sure of it.
I’m leaving EE.
I have heard a lot of people saying that as well.
This is the most complicated thing I’ve ever heard
I know 🙄 it's so ridiculous. And this is supposed to be "Easy" equities.
Yeah i will start looking for an alt platform this is breach of contract. And them saying the fee is flexible means they can increase it when ever they want. Such shitty behavior is not the sort of people i want to give my money to.
It’s misleading to say easy equity is no more free …IT WAS NEVER FREE …when you sell or buy you get charged a fee …now on top of that we gonna be charged a monthly fee
Hahahaha in a sense yes :) i guess it was meant to say the platform itself was free. But yes, they are now bringing in fees on both ends. From both trading fees and a monthly fee.
its only R25
Haha I know it doesn't seem like a lot. But for some people starting out it is quite a bit. And I think for me at least, it goes against what they initially promised their customers when they started. 😄
@@CasualCashit’s the principal. Nothing to do with it being R25. So agreed.
I respectfully disagree. The EE platform has opened doors for many who might not have ventured into the stock market before, offering an accessible entry point.
A mere R25 is a small amount considering the platform's value. It's challenging to satisfy everyone, but in my opinion, EE offers a top-tier platform for investment. If one finds R25 too steep, perhaps they should reconsider their investment strategy.@@CasualCash
Classic rug pull by EE
And was thinking about using Easy Equities in the Future. Anyways 🤷🏻♂️....
Yup, the old bait and switch. Very unfortunate to break trust like that.
Well this sucks 😂
😂😂
*Unpopular opinion:
I must say I don’t see why people are so upset. We are willing to pay R1000’s on streaming platforms but can’t invest R25.00 into our financial futures? EE is a business and needs to remain profitable in order to provide us with service. I am happy to pay the R25.00 if it means that EE is able to continue to provide a great service.
I think the thing they got wrong was how they delivered this news to the market… but honestly R25.00 is negligible!
I definitely agree with what you say, the R25 is really not a lot. And there are plenty of ways to avoid it. But yes, the delivery was not great and it is a bit of a u-turn from their initial promise as a platform. But not impossible to navigate around the fee and it is not a lot if you need to pay it.