Investing isn’t just about picking stocks—it’s about having the right tools in place before you even make your first trade. Just like a carpenter wouldn’t start a project without a well-stocked toolbox, an investor needs to prepare before jumping into the market. That’s why I’m starting my investment journey by setting up my “toolbox,” beginning with EasyEquities. This is “How to start investing with EasyEquities” guide works for everyone but has special attention to helping non-South Africans residents.
EasyEquities is a platform that makes investing in stocks, ETFs, and other assets accessible—even for beginners. Since I’m investing from Africa into the New York Stock Exchange (NYSE), having a solid understanding of how to set up, fund, and use my account is crucial. Here’s a step-by-step guide to help you do the same.
Step 1: Opening an EasyEquities Account
The first step is simple—head over to EasyEquities’ website or download the app. The sign-up process is straightforward, requiring basic personal information such as:
✅ Full name
✅ Email address
✅ Phone number
✅ Identification details (passport/national ID)
Once that’s done, you’ll receive a verification email. Clicking the link in that email activates your account, and you’re officially on your way to investing!
Step 2: Verifying Your Account
To comply with financial regulations, EasyEquities requires users to verify their identity before they can start trading. This involves submitting a copy of your ID or passport, proof of residence (like a utility bill or bank statement), and sometimes proof of income.
This step can take a couple of days, depending on how quickly the documents are reviewed. One issue I faced was ensuring my proof of residence matched my ID details. If you encounter the same problem, make sure your bank statement or utility bill reflects your current address correctly before submitting.
Step 3: Funding Your Account
Once your account is verified, it’s time to fund it! Here’s where things get a bit tricky, especially when investing from outside South Africa. If your account is not from South Africa your account will be limited to two currencies: USD (United States Dollar) and AUD (Australian Dollar).
If you come from a country that doesn’t generally have USD embedded into it’s banking system, you may want to consider creating an account that can do so or that can handle conversions. I use a Wise account which gives me access to an international banking account and is easy to set up. Wise also has great conversion rates so it works for most things I need.
The ZAR, TFSA and RA account types are only available to users who are residents of South Africa and the Common Monetary Area (Namibia, Lesotho and Eswatini).
Funding Methods & Exchange Rate Tips
EasyEquities provides different accounts for different markets:
- ZAR Account (for South African stocks) – Only available if you have a South African Bank account
- USD Account (for US stocks on the NYSE)
- AUD Account (for Australian stocks on the ASX)
To buy shares on the NYSE, I needed to fund my USD account. Luckily for me, there is no need to convert my local currency as USD is used as predominantly as the local currency. This saves me from a lot of currency fluctuations. Thank you Wise
✅ Bank Wire Transfers: Reliable but often slow and expensive.
✅ Credit/Debit Cards: Fast but may have higher fees.
✅ Alternative Payment Services (e.g., Skrill, PayPal): Can offer better rates but may have limits.
To get the best deal, I compared exchange rates across different platforms and chose a method with low transaction fees. I often choose the bank wire transfer, although it takes about 12 -24 hours to complete. This depends on when I do the transfer, but I have learned to not do them in a hurry.
Challenges I Faced (And How I Solved Them)
1️⃣ Delayed Verification: My ID took longer than expected to be approved. Solution? I contacted customer support, and they expedited the process.
2️⃣ Unexpected Currency Conversion Fee. I initially funded my account through my bank, only to realize I was losing money due to poor exchange rates. Solution? I switched to Wise Bank and used it as an online forex service with better rates.
3️⃣ I forgot to put a reference on a transfer and delayed my deposit. I started a transfer while in a hurry and didn’t input a reference on the transfer details. The reference links your transfer with an account deposit and specifically with your account. Luckily the EasyEquities support was very useful and I was assisted for a couple of days. If you go this route, have your proof of payment ready before starting the ticket process to avoid delays.
Final Thoughts: Start Investing With EasyEquities!
Now that my EasyEquities account is fully set up and funded, I’m ready to make my first investment. While daunting at first, once you have the right information and tools, it becomes easier.
Have you set up your investment toolbox yet? If you’ve used EasyEquities or a similar platform, I’d love to hear about your experience. What challenges did you face, and how did you overcome them? Drop a comment and let’s learn together!
Quick Setup Checklist
✅ Step 1: Open EasyEquities account
✅ Step 2: Verify your identity
✅ Step 3: Fund your account (check exchange rates!)
✅ Step 4: Choose your first investment
With these steps complete, you’ll be well on your way to building your investment portfolio!
This is part two in Archie Moyo’s series, “Learning to Invest in the NYSE from Africa” in which he starts his journey investing on the New York Stock Exchange from Africa. Archie is not a financial advisor or professional. The series exists to take other fellow investors on the journey with them and provide resources for new retail investors.
You can read the first article here
Referral Links for account creation:
Wise – Archie Referral link
EasyEquities Investment Platform – Archie referral Link
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