Share Dealing Discussion Area

LHZ

Hey all. Just looking to dip my toe into stocks and shares. I like the idea of investing in a diversified tracker and I've been advised to look at the fund provider 'Vantage' and to use AJ Bell as a trading platform. I intend to drip feed £200 a month or so using an ISA wrapper. Does all of that sound reasonable to you? Anything else I should consider?

Many thanks.

JohnPat23

I invested with CFDStocks now they require these details, is this usual.

In order to verify your account, we need you to send the following documents:
1. Color Copy of Passport / National ID / Driver License.
2. Utility Bill (provided by a public service company) - showing your name and address, and not older than 3 months.
3. Color copy of Credit Card used to fund trading account (Please show on the front the first 6 digits, the last 4 digits, name and expiration date. From the back please cover the CVV code and show the signature)

Thanks John,

greenglide

From the spelling and the wording ("color", "National ID", "public service company") I would guess that you are in the US?

This is a UK based site so responses from us may not be appropriate.

This does sound like a fairly standard identity check. We get them to comply with anti money laundering regulations.

bigadaj

JohnPat23 wrote: »

I invested with CFDStocks now they require these details, is this usual.

In order to verify your account, we need you to send the following documents:
1. Color Copy of Passport / National ID / Driver License.
2. Utility Bill (provided by a public service company) - showing your name and address, and not older than 3 months.
3. Color copy of Credit Card used to fund trading account (Please show on the front the first 6 digits, the last 4 digits, name and expiration date. From the back please cover the CVV code and show the signature)

Thanks John,

Are you an experienced investor, trading CFDs is not something that will produce a positive return for most inexperienced investors even if the site is legitimate.

Malthusian

greenglide wrote: »

This does sound like a fairly standard identity check.

Not to me. Colour copy of the credit card including the back with the signature?

I have seen some fairly shady outfits ask for something similar. They should already have all the details they'd need after collecting the money. In the case of a debit card, however, a picture of the card has two very useful things that you don't normally input into a purchase form: your bank sort code and account number.

Why should they need to see the back? Sure, they ask you to cover the CVV, but anyone gullible enough to sign up for a website with a name like CFDStocks.com is likely to not know what that is, and simply send a picture with the CVV uncovered.

Let me guess, they didn't require these details when they took your money, but they do now you've asked for it back?

bigadaj wrote:

Are you an experienced investor, trading CFDs is not something that will produce a positive return for most inexperienced investors even if the site is legitimate.

Or experienced investors. Or anyone. In any case, it's not CFDs, it's binary options.

(A CFD pays you the difference between a share's price now and its price in the future, whereas a binary option pays a fixed payout if a share moves the right way or nil if it does not. The difference is a) the payout from a CFD is variable depending on how much the share moves whereas the payout from a binary option is fixed regardless of how much the share moves, b) CFDs are used by professional traders to hedge their exposure while binary options are used by mugs who want to lose their money.)

Mulder40

Hi no we are in the UK.

Mulder40

Hi, we tried all sorts of numbers and managed to get through eventually. After doing some form filling online he received just over £12K which was with the tax & NI off. We didn't have to pay as they were his which he was entitled to. He had worked for KFC for 19 years.

Jamesb81

Hi I’m after some advice. I sold 6.5m shares online with a market price of 0.0175p on a kill or fill order. Someone bought them at 0.16p!!! I made ten times my money. How can this happen?

sabretoothtigger

sounds like a get rich quick scheme, lucky you

freebiequeen

Does anyone know of a UK stockbroker that starts trading at 8am, as opposed to at 8.15am? (The shares I wanted to sell reached my target at 8:06 this morning, but, by 8:15, they’d dropped substantially).