****mery Masquerading As Accessible Investing

EasyEquities is a total ****. I have had an account with them since 2019. I was initially very active on the platform and made some investments across all of their platforms. The platform is really just a refined gambling portal, because all you do is place uneducated bets on financial assets you have no business betting on. Be that as it may, I recently did a rough calculation comparing my returns since 2019 vs what returns I theoretically could have earned if I had placed my money in a basic money market account at a nominal rate of return of 7% per annum, and you cannot imagine my shock when I realised that a savings account at a retail bank would've outperformed my EasyEquities account by a significant margin.

Realising this, I have been trying to withdraw my money from the platform and they have been asking me for a confirmation of banking details letter from my bank since 2022. They claim that they are unable to work with the bank I have chosen to bank with because it is not on their list of preferred banks (sounds like cartel behaviour to me). Never mind the fact that the bank I bank with is a retail bank registered with the South African Registrar of Banks and is fully compliant with all the regulatory requirements (unlike some of the banks on EasyEquities preferred list that have been in the news lately for regulatory non-compliance resulting in the Registrar of Banks issuing huge fines as a consequence of their lax governance). If you have an account with EasyEquities, I would encourage you to rethink and take your money as far as possible from those *******.