Author Topic: Which platform to use?  (Read 12959 times)

Hamster

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Which platform to use?
« on: September 10, 2014, 10:05:56 pm »
So for the last year or so I have been pumping some money into FNB's Share Saver and it has grown nicely. Thing is that I want to diversify my portfolio and buy into other ETFs (like the DBXWD) which brings me to a platform problem.

I know about ETFSA but since I took part in the Easy Equities investor challenge I'm sort off already registered and FICA'ed. As far as I understand their jargon, the moment I own a complete share on their platform it is registered/recorded against my person on some register of the FSB...or something like that. So basically I own it even if that platform tanks, right?

Since I have access to almost everything on EasyEquities, would you guys consider it a good platform to do long term investing on?

Second question: since I own RMB TOP40 shares via FNB, will those show up on other platforms or do you have to transfer it somehow? And if that is the case what will happen if I buy the same shares on two different platforms, how will they be reconciled?

Hamster

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Re: Which platform to use?
« Reply #1 on: September 11, 2014, 08:51:35 pm »
Nobody? :(

jaDEB

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Re: Which platform to use?
« Reply #2 on: September 12, 2014, 07:55:50 am »
No sorry Hamster, I only do shares, use a broker...  ::)

I do believe that it will be listed per platform, i.e. your holdings on 1 platform, say FNB will not be listed on a different platform.
jaDEB

If it scares you, it's a sign you need to do it

Hamster

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Re: Which platform to use?
« Reply #3 on: September 12, 2014, 08:36:57 am »
Meh, my broker is shoving everything into Allen Grey. That's all good, but the ETFs I'm doing myself (on the side). One day when I'm more sure as to what I am doing I might ditch her but for now she is smarter than me :D

Regardless, I seem to have asked the unanswerable question :p

Neil

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Re: Which platform to use?
« Reply #4 on: September 12, 2014, 10:51:56 am »
I use standard bank online share trading. But I am personally looking to move because the platform is quite dated, and I HATE THE MONTHLY ADMIN FEE OF R60, especially since i dont buy and sell that often and usually always end up paying it.

I looked up your EasyEquities but anything that is owned and operated by Purple Capital makes me very nervous, there have been a number of articles about them in Noseweek and other places about how they have shafted people regarding CFDs ect.

Personally Id rather stay away from them
Disclaimer:The views/opinions expressed in this post are that of the writer and are not to be interpreted as advice, nor as a indication to buy/sell any investment or equity. The writer will not be held liable for any profit or loss resulting from reading of this post by the reader in any form.

Patrick

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Re: Which platform to use?
« Reply #5 on: September 12, 2014, 01:12:58 pm »
If you trade more than 5 times a year ABSA doesn't charge the annual fee?

There's some useful information here too:
http://shareforum.co.za/shares/fnb-share-investor-platform-vs-stockbroker-vs-fund-manager/

Hamster

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Re: Which platform to use?
« Reply #6 on: September 15, 2014, 09:27:51 pm »
Reply from Easy Equities if anybody was interested:

Quote
Please note that your current shares  will not reflect on your Easy Equities account however you can transfer them to our platform.

 

If you decide to transfer your Account to another financial institution, you may only do so by providing written instructions to transfer your Account to another FSP.  A transfer may only be made to an Account in your name with another FSP in accordance with the provisions of Applicable Law.
A brokerage fee may be charged for the transfer of Whole Securities to another FSP, as set out in the Cost Profile.
Only Whole Securities may be transferred.  You will be responsible for the payment of any taxes, costs or expenses in respect of Whole Securities transferred to another FSP or its nominee.

Patrick

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Re: Which platform to use?
« Reply #7 on: September 16, 2014, 09:42:05 am »
Hmm, easy equities looks good. No monthly fee, no minimum brokerage, only 0.25%. Very very good infact. Anyone used their platform before?

Patrick

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Re: Which platform to use?
« Reply #8 on: September 16, 2014, 09:44:32 am »
Anyone used their platform before?

From their site:
Quote
Please note: The EasyEquities website will only go live on the 15th October 2014.

I'll keep an eye on this one.

devan

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T_Thunder

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Re: Which platform to use?
« Reply #10 on: September 17, 2014, 03:07:24 pm »
Hi all,

I have been using FNB share investor and picking shares myself. I have being doing pretty well with a lot of work behind my picks. My only problem is that the fees are so high that it takes sometimes 3 months to get the stock into the green and make up the "what I paid" portion.

So I am looking for a platform that will allow me to make no more than 2 trades a month with the lowest fees. I am not interested in CFD's or day trading, my trades would last min 6 months - 2years. It would be great if I could have something that allowed me to setup a stop-loss or purchase order that lasts longer than a day without costing me an arm and a leg.

I was thinking of using the FNB global securities application which falls outside of the normal FNB banking interface. Can anyone comment on the fees associated with this platform and possibly compare it to another or reccomend one that would suit my trading activity.

Hamster

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Re: Which platform to use?
« Reply #11 on: September 17, 2014, 04:31:50 pm »
ABSA's platform waives some fees if you trade more than 5 times a year...or something like that