Can i back out of a share trade made online?

cozzyman

hi i have physical shares that i was selling through equiniti in uk i did it online

and they require i send my certificate and signed documents to complete 

sale and transfer the funds since the the price has risen sharply can i back 

out of sale as i haven't signed documents they emailed nor sent certificate?

They have sent letter saying if i dont they will buy back shares at now higher

price (giving less shares) and minus late fees and fees on new purchase.

Im assuming i cant back out but thought id ask 

Ayr_Rage

If you read the Ts and Cs you will almost certainly find that once you hit the SELL button you were committed to that trade and price.

You will not be able to undo the trade.

They have also advised you of what happens if you do not follow through as instructed.

wmb194

cozzyman said:

hi i have physical shares that i was selling through equiniti in uk i did it online

and they require i send my certificate and signed documents to complete 

sale and transfer the funds since the the price has risen sharply can i back 

out of sale as i haven't signed documents they emailed nor sent certificate?

They have sent letter saying if i dont they will buy back shares at now higher

price (giving less shares) and minus late fees and fees on new purchase.

Im assuming i cant back out but thought id ask 

You've entered into a contract. You can back out but, all things equal, you'll owe Equiniti some money. Essentially, Equiniti did you a favour by selling the shares at the time and price you requested before it had received the certificates from you.

https://www.shareview.co.uk/4/Info/Portfolio/default/en/home/buyandsell/Pages/Sell-Certificated.aspx

Tucosalamanca

Wanting to back out once the trade's been made - I'm sure many of us have been there

If it was possible, no one would ever lose. You'd simply ask the broker to cancel as you'd had a change of mind.

It doesn't work like that....

jaypers

Haha, can you imagine a world where this would be possible? We would all make an absolute killing. Perhaps brokers should also be able to do this when we sell and the the price plummets!! 

Swipe

Also would have been cheaper to move your shares out of Equiniti before selling, as their sale fees are extortionate.