SVS Securities - shut down?

manorhouse

Standard_Goose said:

My2penneth said:

johnburman said:

As a new client of Trading 212 if your portfolio is under 85k GBP the 0 commission offering must be a winner. Keep below the FSCS limit of 85k just in case things go wrong.... in a SVS or worse way... and what's there not to like? A limited stock selection sure and no 15 second period in which to decide to deal and the pain of only dealing 95 percent of the monies in your account (a weird rule this one) but for simple zero commission XO deals with no holding or inactivity fees it's a worthwhile option. 

The 95% dealing leaves 5% to allow for currency fluctuations when you are buying foreign shares.

And the hidden cost is the price you get filled at. If you are buying 1000 shares but get filled at a 1p worse price then it's cost you £10 to do the trade anyway. Hard to quantify these things, but this is how the experienced traders on youTube explain it and it seems credible to me.

To share my experience of other platforms:

I used Interactive Investor before SVS... I moved because they changed their fee structure which didn't suit me at the time. I don't need to tell you how much I regret that decision. ii was a great choice for me and i liked the platform and never had any issues with them. If they suit your investment style i recommend them.

I opened an AJ Bell account when I wanted to start investing in a SIPP. I feel safe with them and their share dealing is great for someone investing over medium/long term. Not very good information/stats for companies you're looking to invest in - unlike ii. Good solid reliable company - recommend.

I have also opened an Interactive Brokers account as I intend on doing some high frequency day-trading with some of my savings (if I ever see them again). I have found their website extremely confusing and also the 'Tradestation' platform that I intend to use to do the trading is confusing as hell to learn and seems very glitchy. This is probably due to me being very close to minimum spec on this PC (although slightly above it). Again I have selected another big name because after my SVS experience I am going nowhere near a small company (such as ITI Capital!).

Basically, i've never had any issues with the above three brokers.

Thank you for sharing Interactive Broker info  had them in mind and had asked for this several times in the past .
They do not do ISA's i was told .
Please keep sharing your experiences  with them .
Are they covered by UK or USA regulator ? if UK why are they different from the two European brokers.
I am with most of the brokers liked on here i think HL the most annoying platform i noticed cash in it yesterday , cash is in two different "bits" 
One can be withdrawn one can not .
Looking to see were cash came in from deliberately made difficult in my opinion  i gave up in the end .
I am slowly selling down the funds and can not wait to be done with them.
If they had done a SVS i assume i would of been charged for waiting for my own money .
 

t237

My2penneth said:

I on boarded my wife's account a good few hours ago. There is nothing there. I wonder if ITI will be informing the administrator that they on boarded x thousand accounts over the weekend ? 

I'm not sure whether to complete the onboarding - mine is showing nothing there but is asking me to complete the onboarding.

olderbutnowiser

I can now see both my accounts with all the shares present although RDSB still shows zero for price. Both are showing On-Boarding Submitted. The cash for both accounts agrees with what LC have transferred. So I suppose that is progress.

It's worrying though that my Firefox browser flags up their website as being insecure. The sooner I get out the better.

Anyone think that it would be OK to ask for a transfer away now rather than wait?

gibson81

I submitted a withdrawal form to ITI on 29th July and the cash landed in my bank account this morning. Some progress at least.

sweeter_strudel

My withdrawal of cash from my trading account submitted on Friday is showing as a pending incoming transaction in my bank account.

shawdon

gibson81 said:

I submitted a withdrawal form to ITI on 29th July and the cash landed in my bank account this morning. Some progress at least.

How do you submit the withdrawal form, i cannot find this link on the website?

adeel26

https://iticapital.com/assets/pdf/Limited_Withdrawal_Form.pdf

here is the form link

sweeter_strudel

My ITI trading and ISA portfolio valuations are ludicrous - even by SVS's measure of pushing absolute dogs of shares.

My2penneth

I started the on boarding of one of my accounts on Friday (10 days ago)...it is still pending. This was the 2nd account , the 1st was "approved" the same day. 

Still no access!

johnburman

You are all lucky. I'm tryign to onboard a joint account - but the online form is for a single persona. So what is the sole gender and single age of myself and wife?  Ha Ha.  Can somebody expalin why we should stay with this company?  And what does it say about their commitment to customer care?
Anybody SUCCESSFULLY transferred out yet to a new broker?