Did you ever feel inspired to invest after hearing Charles Savage's 07h20 slot on the DJFresh show on 5FM during savings week or alternatively get home after 17h00 and decide it was time to act on a great Investment tip one of your work colleagues gave you that day only to find that the market was closed.
That's right, unfortunately like many things in life, the Johannesburg Stock Exchange (and other stock markets around the world) has strict operating hours*, outside of which you cannot trade.
But a lot of us simply can't find the time to Invest during the day, and for those of you that can't, we've created what we call "Buy Instructions".
What it means, very simply, is that if you find the time to buy an instrument and it's outside of market hours, rather than have to abandon the process altogether, we'll offer you the option to give us an instruction to buy that instrument / product (ie. share / ETF / basket / bundle) for you when it's available.
It's probably explained best by way of example:
Let's say that you overhear Randy from accounts at the watercooler talking up a great share to buy. Now while you don't think much of Randy's mullet, handlebar moustache or questionable dress sense, he has proven over time to know a lot about Investing and has created a nice nest egg for his family. So you decide you're going to buy that share.
You get home that evening, sit down at your computer, login to your EasyEquities account, find the share you want, enter the amount you want to buy only to receive an error message saying that the market isn't open. Dang. You want to act on the information as quickly as possible because you understood from his chatter that the share is at a great price, but now you've missed an opportunity when you had the time and it's unlikely you'll find the time that you need the next day to repeat the process.
But eureka. Help is at hand. With a buy instruction you can now utilise the time you might have outside of market hours. All you have to do is input the amount you want to spend, confirm that you want to set up a buy instruction and within a reasonable time of the instrument becoming available on the platform again, we'll effectively buy it for you. And that's it.
If you want to to know how to setup a buy instruction, visit this FAQ - How to create a buy instruction?
* JSE trading hours are between 09:00 and 17:00 Monday to Friday (excluding Public holidays).
Current EasyEquities trading hours are 09:05 - 16:40pm Monday to Friday.
Exchanges will be closed on Public Holidays.
- While you have pending Buy Instructions, the purchase value of those Buy Instructions will be held by us in order to make the purchase when the market is open and will not therefore be available as free cash. If you want to access the cash, you will need to cancel the Buy Instructions, which you can do by following these instructions - How do I cancel a buy instruction?