Easy Equities under fire as it launches monthly R25 'loyalty programme' fee

The introduction of a R25 monthly fee has sparked a social media storm among clients of the cut-price trading platform Easy Equities.

The platform’s owner, Purple Group, has introduced a compulsory Thrive loyalty programme that will charge all users R25 each month starting from the end of November. Easy Equities has some 2 million users.

Some of the users have blasted the decision on social media and threatened to cancel their accounts if the fee is implemented. They say that investors who buy and hold shares for a long time without trading would be disadvantaged.