SVS Securities - shut down?

manorhouse

My2penneth said:

RasputinB said:

manorhouse said:

Can anyone throw any light on IBKR ?

Interactive Brokers U.K. Limited Registered Office: Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY.

Website: www.interactivebrokers.co.uk

ITI Capital's "Phoenix" is just a gateway to Interactive Broker's trading platform. If you were to go to the IB website, you could log into your account from there using your ITI username/passwd.  

The trading platform does not belong to ITI capital - they pay IB to use theirs.

Thankyou very much My2penneth
That explains a lot .... So they do indeed contract services out .
Interactive Brokers were a broker i looked at in August 2019 when all this kicked off , i was impressed at what i found the charges were low they were big .
No platform charge if you make two trades a month ( if not the cost of two trades ) and you do not even have to do that  if portfolio over 90k .
I mentioned my findings on here but "the big posters" were not so keen .
They do not do ISA acc i think i recall.
Has anyone transferred a share acc to Interactive Brokers ?
I wonder as they work together if this might be easier ?
Has anyone experience of using interactive Brokers ?

jenwrendorset

Latest update:  I actually managed to get my call to account management answered (this was on 13 October) and spent an hour having what seemed to be a very 'meaningful' conversation about missing dividends; missing transfers; and the non-action on a cash withdrawal request which had, initially, been submitted on 13 Sept and then two times since.  Came off the phone feeling slightly confident that I might actually be getting somewhere but too early to get out the bunting.  Fast forward to 15 Oct and the cash was in my bank account; L&G, BP, and GSK dividends all in their appropriate accounts and were for the correct amount - alleluia. Not been able to check with iWeb as to transfer situation as I've been away but that will be Monday's agenda.  So current situation is;  out of 3 accounts waiting to transfer, only one has been successful (.....mine as it so happens) - 2 accounts still waiting (the 4th account is a joint one and we're selling up once dividend appears in our bank account) and 4 more cash withdrawal slips submitted so let's see how long they take!  Had response back from my MP with an attachment he received back from FCA....hardly inspiring as expected.  I'm now close to the 8 week deadline so FOS complaints forms waiting to be sent although I have contacted them unofficially (making them a c.c. on all the emails) in the past.  The light at the end of the tunnel is still just a sliver but we're heading in the right direction I hope.

shiznit76

what number did you call accounts management on?

My2penneth

In terms of payments received into my Qort account  I am in the process of reconciling "numbers that correspond to a dividend".
So far, I can see that our  Qort (SC or holding accounts) have received dividends:

BP  13/10/20
LGEN 13/10/20 (in 2 accounts, mine & wife's)
Aviva 13/10/20 (in 2 accounts, mine & wife's)
Pennon 03/9/20
IMB 10/08/20
SOI (received but didn't note the date - doh!)

Still a few I can't reconcile (HFEL, SLA , BATS & RDSB  ....the latter having the spurious Enititlement Shares "note" of zero value). 

I get the feeling that ITI are batch loading dividends as you will note the appearance of BP/LGEN/AV on the same date. 

shiznit76

are those unfortunate enough to still have a Qort account finding that their values of holdings are still wrong?

Danie6

manorhouse said:

My2penneth said:

RasputinB said:

manorhouse said:

Can anyone throw any light on IBKR ?

Interactive Brokers U.K. Limited Registered Office: Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY.

Website: www.interactivebrokers.co.uk

ITI Capital's "Phoenix" is just a gateway to Interactive Broker's trading platform. If you were to go to the IB website, you could log into your account from there using your ITI username/passwd.  

The trading platform does not belong to ITI capital - they pay IB to use theirs.

Thankyou very much My2penneth
That explains a lot .... So they do indeed contract services out .
Interactive Brokers were a broker i looked at in August 2019 when all this kicked off , i was impressed at what i found the charges were low they were big .
No platform charge if you make two trades a month ( if not the cost of two trades ) and you do not even have to do that  if portfolio over 90k .
I mentioned my findings on here but "the big posters" were not so keen .
They do not do ISA acc i think i recall.
Has anyone transferred a share acc to Interactive Brokers ?
I wonder as they work together if this might be easier ?
Has anyone experience of using interactive Brokers ?

I have successfully transferred my stuff to Interactive Brokers and am currently studying their training courses. Their platform is very comprehensive indeed, but you need a post graduate university degree to understand all its features. To get on top of it all will probably take some time.

RasputinB

manorhouse said:

Has anyone experience of using interactive Brokers ?

I have an account with Interactive Brokers but I funded it with USD and have only bought US stocks. They emailed me a few weeks ago warning that "due to Brexit" they might have to change the jurisdiction of my account (I am not a UK resident). As I have another stockbroking account with a US broker I asked them (through an on-line form) to arrange a transfer of all my holdings and cash from Interactive Brokers to them. They emailed me confirmation straight away and they started the process on a Monday. Interactive Brokers emailed me on the Monday afternoon to say that they had received transfer instructions. On the Tuesday the stocks (all US high market cap.) had been removed from my Interactive Brokers account and they appeared in my other account on the Friday of the same week.

The main reason I went to Interactive Brokers in the first place was because they were paying a much better rate of interest on USD cash but that subsequently fell to zero.

I can't recommend Interactive Brokers for UK shares as I did not trade any UK shares but they may be an easier transfer route for those with holdings on the Phoenix platform.

manorhouse

RasputinB said:

manorhouse said:

Has anyone experience of using interactive Brokers ?

I have an account with Interactive Brokers but I funded it with USD and have only bought US stocks. They emailed me a few weeks ago warning that "due to Brexit" they might have to change the jurisdiction of my account (I am not a UK resident). As I have another stockbroking account with a US broker I asked them (through an on-line form) to arrange a transfer of all my holdings and cash from Interactive Brokers to them. They emailed me confirmation straight away and they started the process on a Monday. Interactive Brokers emailed me on the Monday afternoon to say that they had received transfer instructions. On the Tuesday the stocks (all US high market cap.) had been removed from my Interactive Brokers account and they appeared in my other account on the Friday of the same week.

The main reason I went to Interactive Brokers in the first place was because they were paying a much better rate of interest on USD cash but that subsequently fell to zero.

I can't recommend Interactive Brokers for UK shares as I did not trade any UK shares but they may be an easier transfer route for those with holdings on the Phoenix platform.

Thank you very much Danie6 & RasputinB
Danie6 i am uk based are you , is there anything else i need to be aware of ie .. you can hold sterling , are you charged a min £10  fx fee for $ divs changed to sterling for example . ( Like ITI )

Danie6

I am based in South Africa and all my shares that were transferred to Interactive Brokers are UK shares of the FTSE100 index. My account with them is a pound sterling one. They have two account types, called IBKR Pro and IBKR Lite. The Lite account is for USA residents only and can trade commission free in USA shares. I have the Pro account and it costs me $10 or the sterling equivalent per month and the trading commission is set off against it. I got onto them through a firm in South Africa with the name of Mexem. Mexem told me that they are negotiating with IB to make the Lite account available to us as well. I am not sure what the situation with Isas will be for UK residents, but you can just ask them. 

Danie6

O yes, and I have also opened an account with eToro where I can trade USA shares commission free. You can further also trade other exchanges on eToro but only as cfd's where you can determine your gearing, ie 1, 3 or 5 times. In this case they earn their commission from the spread, of course. I find their platform very user friendly and easy to use.