- Standard brokerage fee
- Available markets
- ASX, USA
- Phone, Email
EasyEquities is a low-cost broker with a mission to take the hassle out of investing and to help investors form strong long-term investing habits.
For the most part, it delivers on this. In terms of fees, it is commission-based only, meaning those investing less will pay less. There are no monthly account fees and you can start investing for as little as $5.
The broker also has a stack of features that help those who are just getting started. These include educational resources and a user-friendly platform.
On the downside, EasyEquities is fairly limited. You can only trade in a couple of countries and it doesn't have deep analytical tools.
Low commission and no inactivity fees
The EasyLearn series helps educate newer investors
Lacks customer service features, including live chat
Limited trading tools
|Type of broker||Online, Mobile|
|Available markets||ASX, USA|
|Standard brokerage fee||0.10%|
EasyEquities is a South African broker that has expanded its operations in Australia. Starting out in 2014, the broker's claim to fame is that it allows for cheap trading with low minimum investments.
Having services in both Australia and South Africa means it is regulated by both the Australian Securities and Investment Commission as well as the Financial Sector Conduct Authority.
Invest in US and Australian stocks
EasyEquities gives you access to US and Australian shares on one platform.
The broker is focused on making trading shares easy. Its EasyLearn YouTube videos do a good job of demystifying some of the more complex share trading concepts.
EasyEquities allows investors to start investing from as little as $5 through fractional shares. This means you don't have to worry about saving up to $1,000 in some cases to buy a single share.
Commission-based brokerage fee
EasyEquities doesn't have a monthly fee or an inactivity fee. Instead, it charges you based on the size of your trade.
This is a key win for those who are looking to invest a smaller amount.
Built-in risk analysis tools
In order to mitigate unwanted risks, EasyEquities has a built-in risk analysis tool that will help you when setting up your portfolio.
This is the app's version of robo-advice.
It will help you set up investment plans by managing your investing on your behalf, but it will cost you about 1.5% a year.
Low starting balances
One of the key trading features is that you can start for less.
With just a $5 minimum starting balance, you can get started on your investment journey for less.
Is it safe for beginners?
EasyEquities is actually designed for beginners who want to be long-term investors.
Its philosophy is that investing is traditionally over complicated and should be simplified and cheap.
On this message, it delivers.
EasyEquities for the most part is straightforward to use and its fees are tailored towards smaller investors.
However, it lacks a couple of features that a newer investor might want, such as strong customer support.
Who should use it?
EasyEquities will probably suit most investors, given its low fees, but it will have a particular tilt towards smaller long-term investors.
This is because of its low entry points and the fact it charges a commission-based fee. So if you're a smaller/newer investor, this will likely suit your needs.
If you need advanced trading tools or are a more active trader, other brokers might better suit your investing style.
EasyEquities is one of the cheaper brokers going around depending on how much you trade.
It doesn't charge a flat fee. Instead, its fees are commission based, meaning the larger the trade you execute, the more you'll pay. The inverse is also true, meaning smaller investors will pay less.
A full breakdown of EasyEquities' fees can be found here:
|Cost||AUD account||US account|
|ETF deposit fee||Free||-Free|
|Monthly platform fee||-||-|
|Minimum first deposit||-||-|
|Fx fee (optional)||0.5% + 2% above morning spot rate||0.5% + 2% above morning spot rate|
|Recurring investment fee||0.10% of dollar value||0.10% of dollar value|
If you would prefer, here is how it works out for different investment sizes:
|Trade size||ASX stock commission 0.10%||US stock commission 0.25%|
If you need support, EasyEquities will provide you with the following:
- Email support
- Basic phone support
On the downside, there is no live chat feature.
EasyEquities also does not offer 24/7 support. Given you can buy a mix of Australian and US shares, this could become an issue for US trading.
How to get started
Signing up to EasyEquities is a relatively quick and easy process.
- You'll need to add your basic contact information to be verified, including both your email and phone number, so have your phone handy.
- Decide how much you want to invest.
- Add in your banking information.
- You're now signed up.
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