• long running

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

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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.

Referral Links

Referral: random (13)

$10 for referee. $10 for referrer after referee's 1st trade.

Related Stores

EasyEquities
EasyEquities

Comments

  • 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.

    • 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.

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

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

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

            • @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.

              • @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.

                • @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.

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

    • 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.

  • Is it CHESS sponsored?

  • 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!

  • You pay by having your trading data sold

  • Do they have instant account loading?

    PayID / Osko?

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

  • 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?

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

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

  • 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.

    • 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.

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