X-O questions

garf155

Can those people who have been trading using X-O answer the following questions please? (I have emailed them but 24hrs later not had a reply).

- Do you have voting rights?
- Do you receive shareholder company perks? (vouchers, %off cards etc)
- Are you able to take part in dividend reinvestment programmes?

Thanks

Glen_Clark

Its a low price service so they won't have a lot of spare staff to reply to emails. But they have always answered my emails within a few minutes during working hours, so I guess they are very busy answering questions about their new website that started this week.
And to be fair, answering questions that are already answered on their website is hardly a top priority..

garf155

Glen_Clark wrote: »

And to be fair, answering questions that are already answered on their website is hardly a top priority..

If I had been able to find this information on their website then why would I bother to ask the questions here? Perhaps you would like to point me to this information because I've failed to find it.

Thanks

Ifts

garf155 wrote: »

I have emailed them but 24hrs later not had a reply.

Unfortunately its bad timing for you contacting X-O at the moment because as Glen says X-O have only this week upgraded their website so they are probably busy answering questions about how to register on the new website, though this is no excuse why they didn't get back to you.
But again like Glen points out they usually reply to emails promptly within the same day and thats the way its also been for me when I had to contact them via email.

You may have already heard back from X-O by now but if not and your Q's are not answered in these help links on the X-O site:

http://www.x-o.co.uk/how_to_use.htm or http://www.x-o.co.uk/online-user-guide.htm

along with emailing them for info you can also contact X-O's administration dept by phone on: 01892 700834 (between 08.00 and 17.00 Mon>Fri).

HTH

Glen_Clark

garf155 wrote: »

Can those people who have been trading using X-O answer the following questions please? (I have emailed them but 24hrs later not had a reply).

- Do you have voting rights?
- Do you receive shareholder company perks? (vouchers, %off cards etc)
- Are you able to take part in dividend reinvestment programmes?

Thanks

Sorry about my previous unhelpful reply
I'm afraid the answers to your questions are No, No, No.
You can get all this from the Terms and Conditions which everybody apparently ticks the box to say they have read without reading them.

This is the bit I find most concerning, indicating its still not impossible for another Bernard Madoff to trouser your money without buying any shares ;

10 Custody
10.1 Your investments will be pooled with investments held for other investors. This means that your investments will not be identified by separate share certificates. If our Nominee defaults and, for example, is not holding enough investments to satisfy its obligations to all its investors, the investments will be shared out among them approximately in proportion to their holdings. This will not affect your other legal rights.

But it seems to be normal for all these brokers, not just X-O, and sometimes you have to just trust the system.

Reaper

Glen_Clark wrote: »

This is the bit I find most concerning, indicating its still not impossible for another Bernard Madoff to trouser your money without buying any shares

In such a case I believe you would be covered by the FSCS for the first £50,000 as XO/Jarvis are authorised.
From the FSCS web site for what is covered within investments:

FSCS provides protection if an authorised investment firm is unable to pay claims against it. For example:

• for loss arising from bad investment advice, poor investment management or misrepresentation;
• when an authorised investment firm goes out of business and cannot return investments or money.

Glen_Clark

Ifts wrote: »

Unfortunately its bad timing for you contacting X-O at the moment because as Glen says X-O have only this week upgraded their website so they are probably busy answering questions about how to register on the new website, though this is no excuse why they didn't get back to you.
But again like Glen points out they usually reply to emails promptly within the same day and thats the way its also been for me when I had to contact them via email.

You may have already heard back from X-O by now but if not and your Q's are not answered in these help links on the X-O site:

http://www.x-o.co.uk/how_to_use.htm or http://www.x-o.co.uk/online-user-guide.htm

along with emailing them for info you can also contact X-O's administration dept by phone on: 01892 700834 (between 08.00 and 17.00 Mon>Fri).

HTH

They all seem to be saving money by cutting staff.
But I sent X-O an email 2 days ago to withdraw cash from my trading account, they replied in about 5 minutes, and the cash is in my bank now as normal. I can only assume they are prioritizing replies.
Not comforting when its you who is being kept waiting but one must admit if you were trying to get your money out and couldn't get a reply it would be more concerning than if you were just asking a general information question.

garf155

Glen_Clark wrote: »

Sorry about my previous unhelpful reply
I'm afraid the answers to your questions are No, No, No.

Thanks for the answer, although disappointing I kind of suspected it. I had trawled through the website looking for the answers but hadn't looked at the T&Cs - they are the kind of things I would expect on the FAQs.

I can understand them prioritising email replies, but you do start to wonder whether you actually sent it!