SVS Securities - shut down?

Emillion1

Michael_Reynolds said:

jh_aux said:

“Can anyone suggest any straightforward online brokers that will accept overseas residents?” I’m based in Australia."

Swissquote in Luxembourg. Paper work is a bit tedious but you can do it all online. They have an excellent reputation and costs are reasonable.

You could try Saxo Bank

shiznit76

johnburman said:

shiznit76 let us all know tomorrow if your transfer to iWEB has been 100% taken place?
I think it's X-O.co.uk who are doing the transfers in in batches

Spoke to Iweb, said the have received the valuation and now working with ITI on trade and settlement dates, but can't give me a timescale on this

RasputinB

adeel26 said:

I am just wondering if anybody using any trading platform which deals with US stocks?

I think that https://www.interactivebrokers.co.uk has been mentioned by someone here. They have a free trial so that you can test the platform which I have been told is similar to ITI's Phoenix platform. I have no idea what connection there may be.

Charles Schwab have good recommendations - https://www.schwab.co.uk/

SteveJohnson56

adeel26 said:

Hello All,

As for ITI, I requested cash withdrawal on 4 September. On 12 September I received an email asking to submit a snapshot of my bank recent statement and the money landed into my account on Monday afternoon. I sent one email to X-O to check on transfer status. They informed that the valuation verification is ongoing and they expect the transfer to happen in next 3-4 weeks time. 

Thanks for that info adeel26.
5th working day and still waiting for my cash. I made request to my SC account, the following day the cash moved to linked PX account and is still there, would have thought they would know. I submitted the online PDF withdrawal form (Fill & Sign, Certified by Adobe Sign a Document Cloud solution,..no passwords needed for ITI to view it) and PDF bank statement both attached to email to accountmanagement@iticapital.com  as the FAQ states, and also customerservice@iticapital.com as the Withdrawal Form states. Nothing posted.
I did ask in my email could they please confirm they had received my cash withdrawal request, they have not replied.

I presume I did everything correctly could others please confirm?
Don't know whether I should re-submit the cash Withdrawal Form or lodge a complaint by the end of day to both to LC and ITI Capital.

My2penneth

RasputinB said:

adeel26 said:

I am just wondering if anybody using any trading platform which deals with US stocks?

I think that https://www.interactivebrokers.co.uk has been mentioned by someone here. They have a free trial so that you can test the platform which I have been told is similar to ITI's Phoenix platform. I have no idea what connection there may be.

Charles Schwab have good recommendations - https://www.schwab.co.uk/

Many platforms deal with US stocks! 

Hargreaves, AJ Bell,  iWeb, Interactive Investors (not to be confused with Interactive Brokers - different company which provides ITI with the Phoenix trading platform). 

Whoever you chose, you will need to complete a W-8BEN form (a simple 1 page declaration form - if you Google it and then look at "images" there are examples of (dummy) completed forms). 

My choice would be iWeb and Interactive Investors (ii) as I "know them" (because I use them).

 
 

gibson81

Great news on the iWeb/HL/ii transfers. Feels like we might be out of this mess by the end of the month... 

My2penneth

RasputinB said:

I think that https://www.interactivebrokers.co.uk has been mentioned by someone here. They have a free trial so that you can test the platform which I have been told is similar to ITI's Phoenix platform. I have no idea what connection there may be.

Charles Schwab have good recommendations - https://www.schwab.co.uk/

Interactive Brokers provide their trading platform to ITI Capital.

My2penneth

gibson81 said:

Great news on the iWeb/HL/ii transfers. Feels like we might be out of this mess by the end of the month... 

Which month?
actually, which year?

My account holdings are wrong in both Qort and PX. They should not be transferred unless corrected. 

Despite senior management team intervention (by "SK") my accounts are still incorrect one week after instructions by Rahul Agarwal to get them corrected.  

(RA instructed his direct report SK to get my accounts fixed - she has not delivered).

The ITI Capital management team are "incommunicado" and have neatly installed what sounds like a 3rd World call centre  as a barrier to getting in touch. I'm finding it even more difficult to get in contact with ITI nowadays.  

No answer the phones, no answer emails directed to them. 

johnburman

gibson81 said:

Great news on the iWeb/HL/ii transfers. Feels like we might be out of this mess by the end of the month... 

But gibson81 where is your evidence for this? We are on a journey.... And a slow one. But we must all put pressure on our new brokers to speed up the process. ITI are a law unto themselves but our new brokers are batching the transfers in and that is delaying the transfers. 

Geeba

First post, but been following the board and I am and ex-SVS client.
And FYI all, both my Qort and Phoenix ISA account types are now both actually identified as ISA accounts!!