SVS Securities - shut down?

WilliamsDad

markthompson32 said:

Finally got most of my isa transferred to iWeb just a US stock and cash that hasn't transferred, assume iweb take US stocks, do these and cash take longer or do I need to chase

Good news! I'm still waiting, when did you send off your transfer form?  Thanks.

markthompson32

WilliamsDad said:

markthompson32 said:

Finally got most of my isa transferred to iWeb just a US stock and cash that hasn't transferred, assume iweb take US stocks, do these and cash take longer or do I need to chase

Good news! I'm still waiting, when did you send off your transfer form?  Thanks.

I initiated transfer ages ago, then did the form a month or so back when it hadnt moved, then I used the compliance email to complain a week or so ago and it seems to have moved post that 

My2penneth

shiznit76 said:

Looking at Phoenix, looks easy enough to trade, and will also create a paper trail, how easy is it to withdraw money from it though? Have to go through the rigmarole of emailing cash withdraw form through to them still?

It's not easy to trade on Phoenix IMHO (and I have bought CSN, Relx,LWDB & HL on their platform). I'm used to trading using SVS / iWeb /Interactive Investors.  

I'm used to saying "I want to buy xxx shares in YYYY, what's the offer price?" and then having 15 seconds to decide.
I found that with Phoenix, the order was "filled" in real time, it would say 6/100 shares filled (that is , you've ordered 100 and here's 6 bought). The order might just sit around and not be filled. 

Then you have to put "limits" on an order to sell otehrwise you get flashing warning messages saying that you are selling blind.


I also remember (from early days) that there are several ways to trade in Phoenix...and the one we are using is probably the easiest.

shiznit76

Thanks, waiting to hear back from compliance/account mgt why transfer didn't go through (they said they would chase it up as matter of urgency if didn't happen in the FRL). Iweb said there were differences in what they received as valuations and what they got. Fault entirely at ITI's door. Think i will just sell up and hope manage to get a csah withdraw without too much hassle. More fuel for my FOS complaint

My2penneth

shiznit76 said:

Thanks, waiting to hear back from compliance/account mgt why transfer didn't go through (they said they would chase it up as matter of urgency if didn't happen in the FRL). Iweb said there were differences in what they received as valuations and what they got. Fault entirely at ITI's door. Think i will just sell up and hope manage to get a csah withdraw without too much hassle. More fuel for my FOS complaint

Selling up means Crapital get their fees. I want to give them nothing!  

GeorgieC

My2penneth said:

shiznit76 said:

Looking at Phoenix, looks easy enough to trade, and will also create a paper trail, how easy is it to withdraw money from it though? Have to go through the rigmarole of emailing cash withdraw form through to them still?

It's not easy to trade on Phoenix IMHO (and I have bought CSN, Relx,LWDB & HL on their platform). I'm used to trading using SVS / iWeb /Interactive Investors.  

I'm used to saying "I want to buy xxx shares in YYYY, what's the offer price?" and then having 15 seconds to decide.
I found that with Phoenix, the order was "filled" in real time, it would say 6/100 shares filled (that is , you've ordered 100 and here's 6 bought). The order might just sit around and not be filled. 

Then you have to put "limits" on an order to sell otehrwise you get flashing warning messages saying that you are selling blind.


I also remember (from early days) that there are several ways to trade in Phoenix...and the one we are using is probably the easiest.

The 15 second window is called the RSP - Retail Service Provider network. Your order is 'shown' to a selection (not all) market makers who will show their price in your size or up to your size, and you choose if you want to trade within the time scale. The market makers can and do withdraw their prices but not often. Phoenix is pure DMA ie your order is routed straight to the market. The RSP is good for retail orders, being inside the quote on a majority of occasions, but they can show prices that are worse than the general market so be careful. The network of market makers is dependant on your broker as they have to set each one up individually within their tech framework. Some providers only use Winterfloods so if you use their RSP you will only ever see Winterflood's price...A small risk but could be significant if you are a regular trader.
The warning messages from Phoenix / IB are just a 'heads up' warning signal because you are selling at market in the open market. You can switch them off if you don't want them through the settings tab in top left hand corner...

shiznit76

My2penneth said:

shiznit76 said:

Thanks, waiting to hear back from compliance/account mgt why transfer didn't go through (they said they would chase it up as matter of urgency if didn't happen in the FRL). Iweb said there were differences in what they received as valuations and what they got. Fault entirely at ITI's door. Think i will just sell up and hope manage to get a csah withdraw without too much hassle. More fuel for my FOS complaint

Selling up means Crapital get their fees. I want to give them nothing!  

Means i also get my sanity back . The fees will be getting added to the FOS complaint

ameciar

Hi all

I have completed the provided proof of ID step with ITI and now I want to transfer out. I will submit a transfer form through my new broker and indicate the "account number" I have been given by ITI, which has eight digits and consists of two letters and six numbers. Is there anything else I need to do or look out for? 

Also, am I right to think that transferring my holdings in specie to a joint account which I hold together with my wife will not trigger any capital gains tax liabilities?

Your help would be greatly appreciated! 

shiznit76

check accounts, have you got a Qort and Phoenix? Will need give both these numbers to your new broker 

sweeter_strudel

Just noticed tonight you can no longer access the Qort online support / ticket system to raise issues.
They provide a phone number and an email address only - account management at ITI.....

Luckily I took all my screenshots of the 10+ complaints I made for my FOS complaint.