South African retail bank, Capitec has brought the EasyEquities investing platform to its banking app to help clients invest in shares not only in South Africa, but the United States of America.
The announcement comes right after the news earlier this month that FNB’s new shares buying feature on its app. When 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.
If you are a Capitec client, you will need the latest version of the bank’s app to access EasyEquities. When the app is updated, you can access EasyEquities by clicking on the “Explore” tab and going to “Widgets”. When you already have an EasyEquities account, you can sign in and link your account.
New users can register with EasyEquities using the Capitec app. The latest version Capitec app is available on the Google Play Store, Apple App Store, and Huawei AppGallery. If you are new to investing in shares, you can practice with a demo account.
Main Image: Capitec Bank