Capitec has added the EasyEquities investing platform to its new banking app, allowing clients to invest in shares on stock markets in South Africa and the USA.
The bank said clients will get a 20% discount on brokerage fees when using the new widget and pay zero data costs when accessing the widget, as Capitec’s app is zero-rated for data.
Customers are able to access EasyEquities from the latest version of their banking app by clicking the ‘explore’ tab and then navigating to ‘widgets’.
The partnership brings greater accessibility to a variety of investment options, in an affordable and simplified way, said 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,” said Viviers.
Existing EasyEquities clients can easily sign-in and link their accounts. New clients can follow the registration process and then start investing, Viviers said.
“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 said.
EasyEquities is a qualified intermediary with the IRS, which simplifies opening a US investment account and lowers the cost of trading US shares, said Charles Savage, chief executive of EasyEquities said.
“Our EasyFX feature allows rands to be converted to dollars within the platform and then used for the purchase of US shares,” Savage said.