SVS Securities - shut down?

rugby7170

I can get into my account and see the phoenix account line but nothing else . Still saying pending.

johnburman

ITI's last communication on their website states [my bold]:

updated 28/07/2020

We understand a number of clients have been experiencing technical issues with logging into the client registration system. We are looking into this as a matter of urgency and hope to have the issues resolved imminently. In addition, a small number of clients are yet to receive their initial onboarding emails. We expected this to be resolved over the course of the next 48 hours. We apologise for the inconvenience this has caused.

72 hours later 3 out of my family's 4 accounts have not received their initial onboarding emails.  I called ITI on this yesterday.

Thrugelmir

johnburman said:

ITI's last communication on their website states [my bold]:

updated 28/07/2020

We understand a number of clients have been experiencing technical issues with logging into the client registration system. We are looking into this as a matter of urgency and hope to have the issues resolved imminently. In addition, a small number of clients are yet to receive their initial onboarding emails. We expected this to be resolved over the course of the next 48 hours. We apologise for the inconvenience this has caused.

72 hours later 3 out of my family's 4 accounts have not received their initial onboarding emails.  I called ITI on this yesterday.

You endlessly complain about service levels then go on to great waste valuable peoples time.  Perhaps if left to get on with the job in hand more of the outstanding issues could be addressed for the benefit of all. 

bowlhead99

manorhouse said:
Thankyou for that bowlhead i suspect you are correct with the guy on the phone claiming 100k euro.

Do you think Degiro and Feneco have the same cover ?
I was surprised the Feneco persons had not heard of Degiro as that is who they are competing with in my opinion .
All speak very good English ( you chose Italian or English ) 

The Netherlands compensation scheme for investments is the same maximum €20k as the italian one (we have discussed it already in the thread); €20k is the minimum level agreed by EU for a national scheme to use, though some such as the UK's are higher.

If the business goes bust like SVS and customer services stops being a focus for them, the administrators coming in to sort out the mess don't have any obligation to recruit staff who speak very good English, and the claim you put in with the national compensation scheme would be in Italian (although the guarantee fund has english versions of its web pages, it still takes you to an italian claim form (http://www.fondonazionaledigaranzia.it/htm_20/Mod. istanza.pdf).  From day to day it's fine using foreign service providers and the whole premise of the EU is free movement of people and goods and services so that people can buy wherever they like, making Degiro and Fineco competitors in both offering online brokerage to international customers although Fineco is much larger and offers bank accounts too.

But if you're shopping around, especially internationally, it makes sense to consider "what could go wrong" rather than just "what's the day to day service and fees like".

Halty2

No progress on my 3 family accounts, only one has received an onboarding email and after a week the status is still onboarding submitted. Attempted to ring ITI on Monday and Tuesday no answer and no return call after I left my number for a ring back. Thought I would try an email to them on Wednesday  but so far no reply. I did email the Administrators yesterday asking if they or ITI could put out regular honest updates of where we are at , the one that came out on Tuesday that was along the lines of everything will be sorted in 24 to 48 hours just builds up false hopes.

My2penneth

I think JohnB is only right in pointing out his frustration. The only comms we have had from ITI is one which is patently now out of date.

manorhouse

Thrugelmir said:

My2penneth said:

ITICAPITAL said:

That is true my2penneth,
Update: I have been on the phone today to LC and they aparantly are  sending some staff to ITI capital to help with the process.

Jeez! That is bad!

Surely it's good. 

Big fan of Templeton Thrugelmr.
( I do like the advise of wise men )
You more often see ones from  Buffet.

ronkswood

My2penneth said:

I think JohnB is only right in pointing out his frustration. The only comms we have had from ITI is one which is patently now out of date.

I agree. 
If LC or ITI kept us fully advised of the problems we wouldn`t need to keep asking.
We were promised access to our investments and cash over a week ago, and since that time have received no plausible explanation.

manorhouse

leonde said:

Danie6 said:

Does anyone have any experience of 
Interactive Brokers and eToro? 

I looked into eToro a year or two ago and it seemed to be limited to the bigger stocks and ETFs, and I think they made money on the spread.

I can not get a phone number for eToro which put me off .
I would like to know if they do ISA .. they seem to be based here so 85k  and FCA.
They do appear to cover 3000 stocks a lot of others say 2000.

Interactive Brokers looked good no standing charge if large value , but no ISA.
And that charge only if you do not place two trades per month ( they would then charge for two trades )
Not bad .
They answer phone quickly and its 0800 ( not so important these days ) but.
Appears they are massive so safer maybe then anything ?
Not to sure of compensation level .
Please lets have more views on this one .
I suspect some posters here work for this site ( thank you not a bad thing if so )
But does this site favour UK brokers ? ( Again not saying that is a bad thing )

reg_capitulation

Time for a lawsuit?