Do not trust interactive investor!

economic
economic Posts: 3,002 Forumite
in Savings & investments
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.
«13

Comments

  • Linton
    Linton Posts: 17,156 Forumite
    Name Dropper First Post First Anniversary Hung up my suit!
    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
    economic Posts: 3,002 Forumite
    Linton wrote: »
    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?

    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
    JohnRo Posts: 2,887 Forumite
    First Anniversary Combo Breaker First Post
    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
    economic Posts: 3,002 Forumite
    JohnRo wrote: »
    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.

    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
    xylophone Posts: 44,378 Forumite
    Name Dropper First Anniversary First Post
    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
    JohnRo Posts: 2,887 Forumite
    First Anniversary Combo Breaker First Post
    economic wrote: »
    In what way do they game their client accounts?

    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
    economic Posts: 3,002 Forumite
    JohnRo wrote: »
    Holding on to dividend payments. It annoyed the heck out of me years ago and it seems little has changed since.

    Even if you do not transfer to another broker? Or just when transferring to another broker?
  • JohnRo
    JohnRo Posts: 2,887 Forumite
    First Anniversary Combo Breaker First Post
    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
    bowlhead99 Posts: 12,295 Forumite
    Name Dropper First Post First Anniversary Post of the Month
    JohnRo wrote: »
    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.

    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
    xylophone Posts: 44,378 Forumite
    Name Dropper First Anniversary First Post
    Relatives still have II accounts and whether or not dividend payments come at due date is still hit and miss.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards