EasyEquities: Free $10 and 0.1% Per Trade ($1 Per $1000)

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Loswade on 25/02/2021 - 22:06 easyequities.com.au (397 clicks)
Last edited 01/03/2021 - 00:59 by 1 other user

Get free $10 simply by creating a free EasyEquities share trading account.

Alternately you can sign up with a referral so that both you and your referrer receive $10.

Lowest Cost Broker <5k
As far as I can tell EasyEquities is the lowest cost share trading platform for trades <$5000 (after that superhero is cheaper at $5 fixed). It is also the only broker I have found to offer no minimum investment value, you can literally buy or sell 1 share!

If you wish to dabble in small value investments or dollar cost average your investments, this could save you a ton in brokerage.

You can also trade US Stocks and set up automated recurring investments which is neat.

Is it CHESS sponsored?
No, easyequities has a similar HIN model to superhero, is an authorised rep of Sanlam (AFSL 337927), same as superhero, thinkmarkets, and a number of other brokers.

Make sure you give them a couple of days for the $10 to be deposited - if it doesn't show up raise a support ticket and they will credit you.

Related Stores

EasyEquities

• 

  swimmingtoad on 25/02/2021 - 22:17

  +3

  They are comparing their costs to HIN Chess sponsored accounts but with this structure you don't directly own the shares. I don't like that advertising as it's not overly clear on the site (unless I'm missing it)
  I.e. they are held on your behalf in a custodian account, you lose the ability to vote on meetings, takeovers etc.
  I assume that's to bypass the $3.54 ASX charge per transaction on all trades.

  • 

    oswade on 25/02/2021 - 22:29

    +1

    Good points but same as superhero, this is the low cost model. Not sure about voting rights (i never vote) but you do have the ability to participate in corporate actions (according to the T&Cs).

    Personally i use thinkmarkets for higher value trades, but am using this for lower value trades and have been quite impressed thus far.

    • 

      deme on 25/02/2021 - 22:30

      Thinkmarkets is chess sponsored though. Not their CFD garbage but their share offerings.

      • 

        oswade on 25/02/2021 - 22:33

        +1

        Yep that's why I use it for my higher value stocks, plus for trades >8k it works out cheaper at $8 a trade.

        • 

          deme on 25/02/2021 - 22:34

          +1

          @oswade: If Easyequities (whoever they are) gets hacked, steals your shares or goes bankrupt you are screwed. Always go chess sponsored

          • 

            oswade on 25/02/2021 - 22:50

            +3

            @deme: There will always be risk but it is very low - this is a very well established company and imo far safer than superhero, if you look at their operating history in SA and their backers (Sanlam).

            Not disagreeing with you but we need to encourage competition in this space.

            • 

              deme on 25/02/2021 - 23:01

              -1

              @oswade: No
              You haven't assessed the risk of getting your shares stolen by an attacker or insider.

              Easy Equities doesn't have a Wikipedia page.
              You can't hardly call this well established.

              Compare this to chess sponsorship
              * You directly own the shares, if your broker goes under no worries.
              * You are covered by the National Guarantee Fund.

              • 

                netjock on 25/02/2021 - 23:15

                +4

                @deme: To get shares stolen:

                Hacker would have to ask for a broker to broker transfer and custodians will raise alarm bells on why big tranches of shares are being transferred. If you ever transferred shares you need to provide ID and address needs to be the same on CHESS.

                Only way it is possible for you to lose money is if Superhero or Easy decides to take your money and not lodge shares with the custodians. This should be picked up by the annual audit.

                IF you believe the CHESS model you won't be trading equities in any other big markets, they are all using custodian model rather than CHESS.

                • 

                  oswade on 25/02/2021 - 23:45

                  +1

                  @netjock: Well said!

                • 

                  star-ggg on 26/02/2021 - 09:37

                  +1

                  @netjock: Every company that's been charged for fraud passed their audits.

                  • 

                    netjock on 26/02/2021 - 11:51

                    -1

                    @star-ggg: Pass audit is the point of fraud. In case you haven't noticed.

                    But the fact that you could only mention outright fraud as the possibility says a lot.

                    Every company you buy stuff from could have fraudsters doing their job and passing audit.

• 

  deme on 25/02/2021 - 22:25

  +1

  CHESS sponsored?
  No, easyequities has a similar model to Mt. Gox.

  • 

    netjock on 25/02/2021 - 23:18

    +3

    It just means you have no idea how both models work.

    Cypto you can hack and steal by transferring to another wallet. With anything traded on ASX and CHESS (whether individual or corporate) to transfer between CHESS accounts you need to prove you are the owner and the transferred CHESS account you also the owner with exact same address. Unless you sell the shares and transfer the cash but ASX would flag something funny when a single broker starts selling 2x to 3x their daily volume, there is the T+2 settlement, withdrawal to cash may have 2FA.

    • 

      CheapandUsed on 26/02/2021 - 08:16

      Cypto you can hack and steal by transferring to another wallet

      I have been wondering about this. There is $millions of lost bitcoins e.g. this IT worker misplaced 7500 bitcoins

      I wonder who is focusing their attention on trying to 'hack and steal' these lost wallets.

      This week 100 #bitcoin just moved for the first time in a decade. could that have been a 'hack', or someone finally out of prison, or found their long lost thumbdrive and finally remembered their password..

• 

  jv on 25/02/2021 - 23:04

  Is it CHESS sponsored?

  • 

    deme on 25/02/2021 - 23:04

    No

    • 

      jv on 25/02/2021 - 23:05

      +1

      How about CHECKERS ?

      • 

        deme on 25/02/2021 - 23:05

        +4

        CHECKMATE

        • 

          popsiee on 25/02/2021 - 23:22

          @deme: I think it time to sell your house and invest with these reviews : https://www.hellopeter.com/easy-equities

          • 

            netjock on 25/02/2021 - 23:51

            @popsiee: It is for Easy Equities South Africa. Go to first review it talks about SA Rand. Two different companies. Quick Google would have solved that one.

            • 

              popsiee on 26/02/2021 - 07:54

              @netjock: How are the reviews of this Mob then ?

              • 

                CheapandUsed on 26/02/2021 - 08:26

                @popsiee: Looks like they also 'own' provide services for:
                stockspot.com.au
                "Stockspot Pty Ltd ACN 163 214 319 is a Corporate Authorised Representative (No. 453421) of Sanlam Private Wealth (AFS License No. 337927)." and
                Stake - hellostake.com/au/
                "Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927)."

              • 

                netjock on 26/02/2021 - 11:52

                -1

                @popsiee: Okay mate. Companies are just born with 1000 reviews.

                Doing business with your local cafe is a health risk unless you work there or have a permanent stake out

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  netjock on 25/02/2021 - 23:56

  +7

  You may not withdraw your sign-on bonus and/or transfer your sign-on bonus for the purposes of withdrawing the funds for a period of 3 years from the date of deposit.

  LOL!

• 

  star-ggg on 26/02/2021 - 06:15

  You pay by having your trading data sold

• 

  XXRydeR on 26/02/2021 - 07:24

  Do they have instant account loading?

  PayID / Osko?

  • 

    oswade on 26/02/2021 - 21:43

    +2

    Not instant, but deposit through EFT usually lands within a few hours in my experience.

• 

  abc on 26/02/2021 - 09:29

  How “easy” is it to take part in corporate actions (capital raisings, voting rights, etc) when it is not CHESS? Will Easy Equities notify you of these?

  • 

    oswade on 26/02/2021 - 10:50

    According to the T&Cs they will contact you via email. I only just signed up though so I haven't seen any yet.

• 

  Tapori on 02/03/2021 - 10:30

  Does anyone know or can answer if you can buy shares using EasyEquities and then transfer to another CHESS-sponsored broker?

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  devilbabies on 07/03/2021 - 14:47

  these guys can't electronically verify any australian bank accounts afaict.
  they want a certified copy of a recent bank statement to setup an account.
  were other people able to open an account and get their $10 without sending a certified copy? because it seems like too much hassle for $10.

  • 

    oswade on 14/03/2021 - 02:06

    +1

    I didn't need to send any certified docs to get an account, i think the ID verification was standard (drivers license number etc). Perhaps you weren't able to verifify using standard docs and thats why?

    They do ask you to send a bank statement (non certified) before you make withdrawals however.

    • 

      devilbabies on 18/03/2021 - 12:22

      Thanks for the info. My ID is verified, but they still asked for a certified copy of a bank account statement.

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  coolsteps on 11/03/2023 - 17:08

  got my $10 but how can one withdraw it as it does not appear unlocked at withdrawal page? do referral credits need to stay in account for 3 years before one can withdraw them? anyone been able to withdraw referral credits yet?