Help with Hoodless and Brennan website

mark7144

I've just started using Hoodless Brennan and I bought shares with HBOS earlier today and then the share price went up so I should be making a profit. Yet on my account it has me at a loss of £6.78, is this due to the charge for making the trade?

And also, where on the website can I see the price I bought the shares from? All I can find is the price it is at now.

Geoffo_M

mark7144 wrote: »

I've just started using Hoodless Brennan and I bought shares with HBOS earlier today and then the share price went up so I should be making a profit. Yet on my account it has me at a loss of £6.78, is this due to the charge for making the trade?

And also, where on the website can I see the price I bought the shares from? All I can find is the price it is at now.

Yes, the total cost of purchasing your shares included commission and stamp duty. So, if you sold now, you would lose £6-78 plus selling commission.

To find the price you bought at, click on 'Transactions' at top of page

mark7144

Thank you, next time I'll put in more than a £100 so all those costs don't need to be much of an issue

mark7144

Can you explain what a settlement date is? Is it some sort of restriction to when I call sell?

peawack

mark7144 wrote: »

Can you explain what a settlement date is? Is it some sort of restriction to when I call sell?

This the date by which you have to pay them for your new shares.
You will get a contract note in a few days with all the info regarding the trade.

tightarsey

On friday 03.10.08 I was unable to trade during most of the day, especially banking shares. I phoned Hoodless Brennan who said there was a fault with their system, and it was basically 'bollocked' (I'm pretty sure that was the reply) -their words not mine! I assume partly due to volatility of the market and the number of shares being bought and sold. The system seemed unable to fix a price and that the reason for the errors. My account is now showing the incorrect number of shares bought (in comparison to my contract notes) with an edit field to manually alter the value of my share portfolio, and the balance on my account also incorrect (compared to the payments made in) and different to the available refund balance (which is correct) - anyone else having problems: I get the impression their software is buggy, are there any better Brokers with better reliability for a similar price ie. £10-12 a deal. Its one thing to be the cheapest but if you can't buy/sell when you need to you can make/loose a lot more than the transaction fee, any help appreciated. Haven't being impressed so far and have a fair amount of money on account with them. Anybody else having problems please leave a reply - quite tempted to get in touch with the FSA it is that bad.

tightarsey

(Please document any system errors date and time here)
Thursday 09.10.08 8.54am System Status:
System is failing to show updated portfolio values, and updated share prices (even with 15mins delay), indicative prices do not update - but Sales are giving correct sale prices in relation to real market, but you can't see any real time pricing. Yesterday, again buy/sale errors due to unable to obtain prices.

GordonGecko

I've never had problems with the system, but I mainly use the full service (CFD).

I prefer to be told verbally my order is filled.

tightarsey

More system problems today, portfolio and cash amounts are not showing correctly and due to the number of new accounts being created more system problems regarding creating accounts. If you are thinking of opening an account - its a bit like broadband/flying economy class if you want cheap, don't expect much for your money and expect to be in with the masses. What is the point of having cheap transactions charges if you can't trade - this company and its systems should be examind by the FSA, as this isn't just a one-off problem today, its being several weeks of problems now. The systems should be able to cope with demand, but they can't.

GordonGecko

tightarsey wrote: »

More system problems today, portfolio and cash amounts are not showing correctly and due to the number of new accounts being created more system problems regarding creating accounts. If you are thinking of opening an account - its a bit like broadband/flying economy class if you want cheap, don't expect much for your money and expect to be in with the masses. What is the point of having cheap transactions charges if you can't trade - this company and its systems should be examind by the FSA, as this isn't just a one-off problem today, its being several weeks of problems now. The systems should be able to cope with demand, but they can't.

What type of account have you got?

yefi

tightarsey wrote: »

More system problems today, portfolio and cash amounts are not showing correctly and due to the number of new accounts being created more system problems regarding creating accounts. If you are thinking of opening an account - its a bit like broadband/flying economy class if you want cheap, don't expect much for your money and expect to be in with the masses. What is the point of having cheap transactions charges if you can't trade - this company and its systems should be examind by the FSA, as this isn't just a one-off problem today, its being several weeks of problems now. The systems should be able to cope with demand, but they can't.

Yes sir, their system is screwed. It's showing incorrect balance and quantity of shares. I think I won't be using these guys again... this is fundamental stuff...

GordonGecko wrote: »

What type of account have you got?

If he's like me he has an online trading account. I didn't appreciate that CFD was a full account. I assumed it was for trading in derivatives.