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Capitec has brought the EasyEquities investing platform to its banking app to help clients invest in shares in South Africa and the USA.
The announcement follows news earlier this month of FNB’s new shares buying feature on its app.
By using EasyEquities in its app, Capitec says that it can lower the cost of investment options for its users.
“The partnership brings our clients greater accessibility to a variety of investment options, in an affordable and simplified way,” says Francois Viviers, Executive of Marketing and Communications at Capitec.
“We currently have over 4 million app clients, who will now not only be able to invest in top South Africa companies but also those based in the USA, a unique feature not offered by traditional brokers.”
The platform converts rands into dollars within the app — making it easier to invest in shares in the US.
Meanwhile, since EasyEquities is a qualified intermediary with America’s IRS, the process of opening a US investment account is simplified for users. According to EasyEquities, this also lowers the cost of trading and buying US shares.
The Capitec app will also grant a 20% discount on brokerage fees when customers use the new widget.
“By giving South Africans easy access to investing we can help shift investment behaviour in the right direction. EasyEquities is perfect for first time investors as it offers a demo account, which can be used to familiarise yourself with the markets you are interested in, before investing actual money,” Viviers says.
How to access EasyEquities with Capitec app
If you are a Capitec client, you will need the latest version of the bank’s app to access EasyEquities.
Once your app is updated, you can access EasyEquities by clicking on the “Explore” tab and going to “Widgets”.
If you already have an EasyEquities account, you can sign in and link your account.
New users can register with EasyEquities using the Capitec app.
If you are new to investing in shares, you can practice with a demo account.
The demo account gives you R100 000 and $10 000 of demo money (which is not real money). Since the demo account is not real, you can try out investing with no risk to see if your strategies would work.
You can find out more about the partnership on the Capitec website.
Feature image: Capitec