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    • economic
    • By economic 14th Mar 18, 5:41 PM
    • 2,940Posts
    • 1,586Thanks
    economic
    Do not trust interactive investor!
    • #1
    • 14th Mar 18, 5:41 PM
    Do not trust interactive investor! 14th Mar 18 at 5:41 PM
    Hi

    I have been a customer of TD's for many years never had a problem. I have heard about problems with II taking over but my issue with them is more serious then most hence why i am posting a new thread about it.

    I have a stock i owned for a whilst now (5 years) and one which i planned to not sell for a long time. I login yesterday and found out that the stock has been sold!! No way did i sell it (i did not even login for sometime) and there is no way anyone else could have as i do not tell anyone my login details.

    I can only imagine something dodgy/fishy is going on at II. Either its a technical problem or its done on purpose, i do not know. I have called them and they say that i must have sold it or i gave someone my details! That is even after telling them i did not login for sometime. They do not seem to care.

    Completely frustrating and i am not sure what to do.

    Anyone else experience similar problems? I have now decided to move to another broker. II really can not be trusted.
Page 1
    • Linton
    • By Linton 14th Mar 18, 6:01 PM
    • 9,387 Posts
    • 9,519 Thanks
    Linton
    • #2
    • 14th Mar 18, 6:01 PM
    • #2
    • 14th Mar 18, 6:01 PM
    Seems very odd. I have been with II holding a wide range of companies for about 8 years without ever seeing anything like it.

    Is the sale in the transactions? Is the money still in the account. What was the share? - the company hasnt been taken over or something like that?
    • economic
    • By economic 14th Mar 18, 6:04 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    • #3
    • 14th Mar 18, 6:04 PM
    • #3
    • 14th Mar 18, 6:04 PM
    Seems very odd. I have been with II holding a wide range of companies for about 8 years without ever seeing anything like it.

    Is the sale in the transactions? Is the money still in the account. What was the share? - the company hasnt been taken over or something like that?
    Originally posted by Linton
    Yeh its in the transaction history and i have the cash in the account so nothing lost except having to pay another trading fee plus the movement int he stock price if its higher then it was sold for.

    No the company still trades and is actually down so all is not lost, but still very dodgy and i have completely lost my trust with II.
    • JohnRo
    • By JohnRo 14th Mar 18, 6:06 PM
    • 2,608 Posts
    • 2,421 Thanks
    JohnRo
    • #4
    • 14th Mar 18, 6:06 PM
    • #4
    • 14th Mar 18, 6:06 PM
    They surely must have a server record of when exactly the transaction was made. That might provide some clues or defence if you know where you were at that time and can prove it.

    I don't know how they operate behind the glossy facade but their backend must surely contain timestamped IP address information, do you have a static IP address or is it dynamic?

    It boils down to how competent they are and cooperative they want to be which is where the real problem with II lies in my experience.

    My only big problem with them is how they game their clients accounts which is why I've had to transfer away twice to be shut of them, hopefully for good now.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • economic
    • By economic 14th Mar 18, 6:21 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    • #5
    • 14th Mar 18, 6:21 PM
    • #5
    • 14th Mar 18, 6:21 PM
    They surely must have a server record of when exactly the transaction was made. That might provide some clues or defence if you know where you were at that time and can prove it.

    I don't know how they operate behind the glossy facade but their backend must surely contain timestamped IP address information, do you have a static IP address or is it dynamic?

    It boils down to how competent they are and cooperative they want to be which is where the real problem with II lies in my experience.

    My only big problem with them is how they game their clients accounts which is why I've had to transfer away twice to be shut of them, hopefully for good now.
    Originally posted by JohnRo
    Its crazy, when i phoned them they do not seem to care at all! Its like they think i am lying. Anyway completely fed up with them which is why i am leaving.

    In what way do they game their client accounts?
    • xylophone
    • By xylophone 14th Mar 18, 6:24 PM
    • 25,374 Posts
    • 14,970 Thanks
    xylophone
    • #6
    • 14th Mar 18, 6:24 PM
    • #6
    • 14th Mar 18, 6:24 PM
    I login yesterday and found out that the stock has been sold!! No way did i sell it (i did not even login for sometime) and there is no way anyone else could have as i do not tell anyone my login details.
    You need to make a formal complaint in writing and send the letter "signed for".

    Even then, don't expect a quick reply.

    My ISA transfer from II to iWeb has only just completed ( a process strewn with delay and errors, including an incomplete transfer of one holding because of an inputting error) and I have still not received end January / end February dividends paid to the old account with II.

    I have now made a formal complaint to both II and iWeb and I know which company is the more responsive.....
    • JohnRo
    • By JohnRo 14th Mar 18, 7:43 PM
    • 2,608 Posts
    • 2,421 Thanks
    JohnRo
    • #7
    • 14th Mar 18, 7:43 PM
    • #7
    • 14th Mar 18, 7:43 PM
    In what way do they game their client accounts?
    Originally posted by economic
    Holding on to dividend payments. It annoyed the heck out of me years ago and it seems little has changed since.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • economic
    • By economic 14th Mar 18, 7:50 PM
    • 2,940 Posts
    • 1,586 Thanks
    economic
    • #8
    • 14th Mar 18, 7:50 PM
    • #8
    • 14th Mar 18, 7:50 PM
    Holding on to dividend payments. It annoyed the heck out of me years ago and it seems little has changed since.
    Originally posted by JohnRo
    Even if you do not transfer to another broker? Or just when transferring to another broker?
    • JohnRo
    • By JohnRo 14th Mar 18, 7:57 PM
    • 2,608 Posts
    • 2,421 Thanks
    JohnRo
    • #9
    • 14th Mar 18, 7:57 PM
    • #9
    • 14th Mar 18, 7:57 PM
    Both in my experience, not crediting the account on the day the dividend is paid or at least very soon after, ie. next day.

    Most brokers pay on the day, no good reason not to. CSD is the best at this in my experience but by no means the only one.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • bowlhead99
    • By bowlhead99 14th Mar 18, 8:38 PM
    • 7,840 Posts
    • 14,313 Thanks
    bowlhead99
    Both in my experience, not crediting the account on the day the dividend is paid or at least very soon after, ie. next day.

    Most brokers pay on the day, no good reason not to. CSD is the best at this in my experience but by no means the only one.
    Originally posted by JohnRo
    FWIW the legacy TD Direct side of the business (on whose IT infrastructure platform the newly merged business is supposed to be operating after migrating the old iii customers) always seemed fine to me in terms of dividend receipts vs expectations, for over a decade.
    • xylophone
    • By xylophone 14th Mar 18, 8:44 PM
    • 25,374 Posts
    • 14,970 Thanks
    xylophone
    Relatives still have II accounts and whether or not dividend payments come at due date is still hit and miss.
    • JohnRo
    • By JohnRo 14th Mar 18, 8:56 PM
    • 2,608 Posts
    • 2,421 Thanks
    JohnRo
    FWIW the legacy TD Direct side of the business (on whose IT infrastructure platform the newly merged business is supposed to be operating after migrating the old iii customers) always seemed fine to me in terms of dividend receipts vs expectations, for over a decade.
    Originally posted by bowlhead99
    Yep, I wasn't with TD for anywhere near as long but found the dividend payments in the few years I was, while it was TDDI, were always prompt.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • milton1970
    • By milton1970 14th Mar 18, 9:13 PM
    • 38 Posts
    • 17 Thanks
    milton1970
    Did you have a stop loss floor in place by any chance ?

    Not the best deal service but over 15 yrs I have had no real issues
    • cloud_dog
    • By cloud_dog 14th Mar 18, 11:55 PM
    • 3,699 Posts
    • 2,192 Thanks
    cloud_dog
    FWIW the legacy TD Direct side of the business (on whose IT infrastructure platform the newly merged business is supposed to be operating after migrating the old iii customers) always seemed fine to me in terms of dividend receipts vs expectations, for over a decade.
    Originally posted by bowlhead99
    OHs investments were with TD for many years (at least 10), and never had an issue with the platform, promptness of divi's, or the service generally.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • barak
    • By barak 15th Mar 18, 1:49 AM
    • 1,239 Posts
    • 451 Thanks
    barak
    Interactive Investor
    Good question [from Milton1970] - but otherwise this is very difficult to understand.

    I moved a fairly large portfolio of funds from Fidelity/Cavendish to Interactive Investor a couple of years ago and have no complaints, but mine are all accumulation funds.

    I had tried IWeb but their selection of funds at the time was hopelessly lacking which surprised me as I knew it would have been the same with Halifax where my shares have been for some time.

    My ISA shares have dividends reinvested. There is a delay of 2-5 days before receiving dividends from my non-ISA shares. Strangely, dividends from GSK always take 5 days and those from RDSB 2-3 days. Equiniti is registrar for both companies. I can be precise about the delays as I still have some certificated shares in each company!
    Last edited by barak; 15-03-2018 at 1:53 AM. Reason: Forgot to quote message!
    ".....where it is corrupt, purge it....."
    • aroominyork
    • By aroominyork 15th Mar 18, 2:15 PM
    • 450 Posts
    • 133 Thanks
    aroominyork
    Currently trying to transfer from HL to ii. Just got email from ii saying HL have a backlog and cannot give a date for when they will do the in-specie transfer.

    Years ago I saw an Andy Capp cartoon when he tearing up his betting slip in the bookies and saying he should learn from the fact that there are three cashiers taking bets but only one paying out. I think these companies have three people in the 'transfer in' team for every one working in 'transfers out'.
    • xylophone
    • By xylophone 15th Mar 18, 3:21 PM
    • 25,374 Posts
    • 14,970 Thanks
    xylophone
    the in-specie transfer.
    Just be prepared for a flood of grief in a vale of tears.....
    • xylophone
    • By xylophone 15th Mar 18, 3:23 PM
    • 25,374 Posts
    • 14,970 Thanks
    xylophone
    .....particularly if any of your funds are dividend/interest paying.....
    • BrockStoker
    • By BrockStoker 15th Mar 18, 4:51 PM
    • 200 Posts
    • 87 Thanks
    BrockStoker
    Had similar with my platform (Royal London 360) which I pay a bit of a premium for. They sold a fund without me knowing, then bought it back a couple of days later. I didn't complain as it made me a bit of money.
    • Biggles
    • By Biggles 15th Mar 18, 5:02 PM
    • 7,612 Posts
    • 5,011 Thanks
    Biggles
    The trade will be date- and time-stamped, were you logged in at that time? Were you even online?

    You say the price was down, maybe you had a stop-loss you'd forgotten about?
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