SVS Securities - shut down?

clash_man

Have registered my complaint with FCA , they must have quite a few by now. I still await my ISA account transfer......

JJ1111

Hi people, I'm a bit late to the party here, wondering if anyone can point me in the right direction?!
Are the fees for QORT account trading listed anywhere?...Had no response from ITI....and I take it you can only trade over the phone? Has anyone done this?
What are my options for de-listed shares? 
Thanks in advance

My2penneth

@JJ1111
If your shares are in Qort then the only way you can trade is via the broker line. If you are planning to trade "independently" (that is - without phoning the broker line) you will have to get ITI Crapital to transfer the shares out of Qort and on to the trading platform (which they call "Phoenix").  However, depending on what shares you actually own, it might not be possible to transfer them onto the trading platform - so you would need to check with ITI (good luck!).  I've bought shares using monies in my Qort account by phoning the dealer line but we are going back to August 2020!

If you want to sell shares that are held in Qort, the price should be as per the rate card available on the ITI website.   

Of course, most people here seem to want "out" of ITI Capital and have initiated transfer requests to other brokers. To do this, you fill in the transfer requests with your "desired"  new broker (not ITI Capital).  The transfer times have been diabolically long.

I can't help with the delisted shares bit!. 

JJ1111

My2penneth said:

@JJ1111
If your shares are in Qort then the only way you can trade is via the broker line. If you are planning to trade "independently" (that is - without phoning the broker line) you will have to get ITI Crapital to transfer the shares out of Qort and on to the trading platform (which they call "Phoenix").  However, depending on what shares you actually own, it might not be possible to transfer them onto the trading platform - so you would need to check with ITI (good luck!).  I've bought shares using monies in my Qort account by phoning the dealer line but we are going back to August 2020!

If you want to sell shares that are held in Qort, the price should be as per the rate card available on the ITI website.   

Of course, most people here seem to want "out" of ITI Capital and have initiated transfer requests to other brokers. To do this, you fill in the transfer requests with your "desired"  new broker (not ITI Capital).  The transfer times have been diabolically long.

I can't help with the delisted shares bit!. 

Thanks for the info, much appreciated!
Yeh I noted the mass exodus! I did see the rate card but thought there may be some special conditions for ex SVS customers? 

RasputinB

JJ1111 said:

... I take it you can only trade over the phone? Has anyone done this?

Selling - https://forums.moneysavingexpert.com/discussion/comment/77678010#Comment_77678010

Extracting cash - https://forums.moneysavingexpert.com/discussion/comment/77815190/#Comment_77815190

WiseOne5

I have done the whole route of following through leonard curtis and going to London, and waiting until our stocks transferred through to ITI Capital and have been staged through to an ITI Capital login and finally to a Phoenix Account login.  Said Phoenix Account doesn't work and the operative always says he will send me a password and doesn't.  I have found the alternative login he mentioned, only to find it doesn't do Live logins.  Any help with this?  Thanks

johnburman

WiseOne5 said:

I have done the whole route of following through leonard curtis and going to London, and waiting until our stocks transferred through to ITI Capital and have been staged through to an ITI Capital login and finally to a Phoenix Account login.  Said Phoenix Account doesn't work and the operative always says he will send me a password and doesn't.  I have found the alternative login he mentioned, only to find it doesn't do Live logins.  Any help with this?  Thanks

Leave them...transfer out ASAP.  I think that ITI are beyond redemption.  why stay...there are better brokers out there.  Hells Bells there are some that even do not charge a commission (e.g. Trading 212) 

eskbanker

johnburman said:
there are better brokers out there.  Hells Bells there are some that even do not charge a commission (e.g. Trading 212) 

While it's all very MSE to try to minimise costs, there is always the risk of jumping from frying pan to fire if going to a broker like that with a questionable business model and unsustainably thin revenue streams, although the fact that they're not currently accepting new customers makes that decision academic anyway....

johnburman

eskbanker said:

johnburman said:
there are better brokers out there.  Hells Bells there are some that even do not charge a commission (e.g. Trading 212) 

While it's all very MSE to try to minimise costs, there is always the risk of jumping from frying pan to fire if going to a broker like that with a questionable business model and unsustainably thin revenue streams, although the fact that they're not currently accepting new customers makes that decision academic anyway....

Quite right.  I would not invest more than £85k - the FSS compensation limit - with them.  You are right that they are not accepting new clients, but there is always....[I was going to name the nil commission brokers, but perhaps not!] 
It is impossible to assess who has a good business model and who has not.  HL are the big boys to go for I expect but they are expensive.  But trading volumes are up up up and so they all should be making piles of ££.

As an aside anyone knows anything about FINECO.  Big quoted Italian Bank and cheap trading costs, but is their limited compensation or is it Euro 100k limit if they go bust and you suffer a loss.  Like DEGIRO....cheap but maybe - I do not know- inadequate compensation if the worst were to happen? 

Sheris

eskbanker said:

johnburman said:
there are better brokers out there.  Hells Bells there are some that even do not charge a commission (e.g. Trading 212) 

While it's all very MSE to try to minimise costs, there is always the risk of jumping from frying pan to fire if going to a broker like that with a questionable business model and unsustainably thin revenue streams, although the fact that they're not currently accepting new customers makes that decision academic anyway....

Frying pan to the fire was SVS clients by the FCA to ITI Capitial