This is a guide on how to invest using EasyEquities. EasyEquities is fast gaining popularity as the broker of choice for many people due to its low barriers to entry and ease of use.
Investing used to be a game for people with lots of money, the average Thabo could not invest in stocks. Mainly because the barriers to entry were very high, brokers needed you to pay a lot in minimums and other hefty fees. Until EasyEquities came and made investing accessible to everyone.
Here is a guide on how to invest using EasyEquities.
Register with EasyEquities
The first thing you have to do is to open an account with EasyEquities. You can do this directly from your Capitec app if you are a Capitec client. For those who don’t have Capitec; all you have to do is to download the EasyEquities app from the app store or register through their website.
The process usually takes a few minutes if you are a Capitec client, you may be required to submit identity documents if you are using another bank.
Use your demo account to practice
EasyEquities comes with two demo accounts, the first is for investing in South African companies and it has R100k. The other is for investing in US companies and it has $10k. Use these accounts to practice buying and selling shares. You will be able to make investments and see exactly how they would have performed in real life.
Use your tax-free savings account
EasyEquities comes with a tax-free savings account. With this account you won’t have to pay tax on the interest that you earn from your investments. You will be liable to pay tax when using the regular EasyEquities account. The maximum that you can deposit in a single year is R36k.
This means that you won’t have to pay tax on profits when selling your shares or getting dividends. You can’t use your tax-free savings account to invest in offshore companies, unfortunately.
Do some research about the companies you want to invest in then simply buy the shares through EasyEquities. All you have to do is search for the company you want to invest in and click on “buy” and enter the amount of money you want to buy with. You will receive a share certificate on your email confirming your transaction.
This was a guide on how to invest using EasyEquities. Do you have any thoughts or questions? Comment below.