Investing in stocks can help build wealth over the long term, but it's not without risks. The first step to investing in your EasyEquities USD account is to ensure that you have funded this account.
Here's a guide on how to do just that, whether you would like to fund your EasyEquities USD account by making a direct deposit or using the EasyFX feature. This is the fastest, most straightforward method but is unfortunately only available to South African citizens.
What is EasyFX?
EasyFX allows you to send your Rands offshore from your EasyEquities ZAR account and buy stocks denominated in another currency.
However, if you would like to fund your USD Account directly from another bank account, below are two methods you can use, even if you are not a South African citizen:
What reference should you use when making a direct deposit?
Whenever you make a deposit directly into an EasyEquities account, you're going to need to use your EE EFT reference so that we can identify who you are in order to allocate your deposit.
Each account type that you have on the EasyEquities platform (Eg: TFSA, ZAR, RA etc.) has its own unique reference number.
Here is how to find it (Desktop Version):
- Make sure you have the correct account selected.
- Navigate to the top left stacked menu and select Deposits
- You'll find your reference number under the heading EFT Reference
How long will each method take?
An EasyFX transfer can take up to 48 hours.
The amount of time it takes for funds to reflect depends on when you made the transfer. To find out more, head over to our EasyEquities Help Centre.
Once your EasyEquities USD account has been funded, you can invest in some of the biggest global brands like a champ! Imagine owning a few shares in Twitter or Facebook and then bragging about them… on Twitter and Facebook!
Why show international shares some love?
- Diversification on another level
Investing in different markets, with different commercial variables makes not only for great risk reduction practice, but you would be unlocking your portfolio profit potential to bigger and/or emerging wealth avenues.
- Own a recognisable brand
You can be a shareholder in a brand that you not only use regularly, and love. You can own a piece of it. Your consumption habits become dividend expectations and profits in your pockets in just a matter of seconds!
- Backing the big guys
Your wealth will be on the backs of some of the biggest organisations to have ever existed – in the world! International shares offer a plethora of new opportunities. For example, if you believe in an international innovator like Elon Musk's vision and want exposure to their company stock, Tesla, you can get it.
"If it don't make dollars, it won't make cents (sense). Ha." – some rapper.
Lesedi Mfolo | EasyEquities Drip King