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iWeb not letting me trade some trusts
Thrugelmir
Posted: 02 May 2018 17:45:16(UTC)
#21

Joined: 01/06/2012(UTC)
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Try x-o. You simply need to confirm that you've read the investment documents and they'll allow you trade the stock. Getting through to the dealing desk by telephone is very quick and easy. Trades are £5.95p as well. No thrills service with basic website but it's functional. If you don't want to pay for bells and whistles.

1 user thanked Thrugelmir for this post.
Malcolm Hartney on 02/05/2018(UTC)
Malcolm Hartney
Posted: 02 May 2018 23:06:41(UTC)
#22

Joined: 20/08/2017(UTC)
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[quote=Robin Stone;61525]Tried buying veil a couple weeks ago and oakley capital OCI today. Couldn’t buy either on iWeb. I liked them as flagged as a good discount and I did a bit of research and they looked ok. Spoke to iweb and they flagged mifid 2 and said these aren’t intended for retail investors.

REPLY: As a result of MIFID II, providers are expected to ensure that investors are "aware of risks". For most, if not all Investment Trusts, this means that the Trust or the broker must provide the investor with 2 documents: a KID and a cost & charges document. It is nonsensical bureaucracy but it must be complied with, otherwise investor could presumably sue broker, etc, etc!

HSBC are still 'unable' to provide me with a Trust that I wish to buy, but they have been honest with me and have explained that they have to wait for their contractor (Morningstar) to produce said documents. Morningstar have already produced a lot of these documents but some are still outstanding. HSBC/First Direct have paid me £50 in compensation.

I have not yet found time to complain to the regulator, but I think we all should.
Empty Glass
Posted: 03 May 2018 09:26:50(UTC)
#23

Joined: 26/09/2013(UTC)
Posts: 2

I tried to add to an existing (FT-250 multi-billion cap) investment trust holding on IWeb last week but was prevented. I used the live chat to question what had changed, their reply was :

" Our dealers run checks on the stocks we trade on a
regular basis. The latest check has identified this stock as being
one aimed at professional investors, rather than retail. As such,
we have re-classified the stock and no longer allow investment.
You can still sell but you would no longer be able to buy this
stock
"
t s
Posted: 03 May 2018 09:48:36(UTC)
#24

Joined: 03/03/2016(UTC)
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Empty Glass;61656 wrote:
I tried to add to an existing (FT-250 multi-billion cap) investment trust holding on IWeb last week but was prevented. I used the live chat to question what had changed, their reply was :

" Our dealers run checks on the stocks we trade on a
regular basis. The latest check has identified this stock as being
one aimed at professional investors, rather than retail. As such,
we have re-classified the stock and no longer allow investment.
You can still sell but you would no longer be able to buy this
stock
"


Exactly the same response when I tried to buy: LEGAL & GENERAL UK MID CAP INDEX CLASS I - ACCUMULATION (GBP) Purchased with Chas Stanley
1 user thanked t s for this post.
Mr Helpful on 03/05/2018(UTC)
Mr Helpful
Posted: 03 May 2018 10:28:34(UTC)
#27

Joined: 04/11/2016(UTC)
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Now being blocked to add to BBGI (Infrastructure).
All fine on Barclays SmartInvestor.
How will this all end?
Are iWeb now a second class amateur service?
Or is this just a temporary admin muddle over KID docs?
Do we now have to move from iWeb to get access to quite common holdings?

P.S. Just ran a full check on historic holdings with iWeb.
Find SEQI also blocked !!!
Mr Helpful
Posted: 03 May 2018 11:01:12(UTC)
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t s;61657 wrote:
Exactly the same response when I tried to buy: LEGAL & GENERAL UK MID CAP INDEX CLASS I - ACCUMULATION (GBP)

That is truly ridiculous !!!
What could be blander than that?
2 users thanked Mr Helpful for this post.
AJW on 03/05/2018(UTC), Tim D on 03/05/2018(UTC)
AJW
Posted: 03 May 2018 11:21:57(UTC)
#26

Joined: 15/06/2017(UTC)
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Mr Helpful;61660 wrote:
t s;61657 wrote:
Exactly the same response when I tried to buy: LEGAL & GENERAL UK MID CAP INDEX CLASS I - ACCUMULATION (GBP)

That is truly ridiculous !!!
What could be blander than that?


I was thinking the same.
Julianw
Posted: 03 May 2018 13:42:21(UTC)
#28

Joined: 28/07/2016(UTC)
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Use iWeb, alliance and X-O for many years.

Find lots of funds and ETFs not available on iWeb, Some of the missing funds are pretty main stream.

X-O has always been helpful. If I want to buy an ETF that is not listed on their platform. X-O will just make the addition to allow me to buy it.

Big boy
Posted: 03 May 2018 16:15:49(UTC)
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I think iWeb and Halifaxsharedealing are connected. Do we know who's pulling who's strings?? Halifax have "Asset Class Forum" reviewing stocks.

They seem to be getting into difficulty with new Regulations.

I will be trading with HL in the stocks Halifax refuse to deal in which I am sad about.
Big boy
Posted: 04 May 2018 12:17:19(UTC)
#30

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Congratulations Halfax as they now let us trade UTLH... shame they wouldn't let me participate in the placing. HL dont list this stock yet

They declined to deal as "structure and risk associated" etc. They were happy to allow dealings in the ordinary (high risk) but not deal in UTLH which are low risk. At long last they seem to be listening.

Let hope we hear some good News about trading in OCI.(sadly missing out as other pushing up the share price)
t s
Posted: 04 May 2018 13:58:19(UTC)
#31

Joined: 03/03/2016(UTC)
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Just had a web chat with iWeb when trying to buy XFEW

Status: Connected
You are chatting with: Yahya

You: I am trying to purchase DB X-TRACKERS FTSE 100 EQUAL WEIGHT UCITS ETF (DR) (XFEW)
Yahya: have you got the ticker code
You: You are not showing it as available yet it is available elsewhere. IE00BZ0CYG46
You: Even when using ticker IE00BZ0CYG46 you do not recognise it
Yahya: this is not one we can trade
You: Why
You: It is an ETF...nothing complicated here
Yahya: it does not meet our trading criteria
You: Why not.............it is an ETF
Yahya: it is not an ETF we can trade im afraid
You: Not satisfactory
Big boy
Posted: 04 May 2018 16:17:29(UTC)
#32

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t s;61741 wrote:
Just had a web chat with iWeb when trying to buy XFEW

Status: Connected
You are chatting with: Yahya

You: I am trying to purchase DB X-TRACKERS FTSE 100 EQUAL WEIGHT UCITS ETF (DR) (XFEW)
Yahya: have you got the ticker code
You: You are not showing it as available yet it is available elsewhere. IE00BZ0CYG46
You: Even when using ticker IE00BZ0CYG46 you do not recognise it
Yahya: this is not one we can trade
You: Why
You: It is an ETF...nothing complicated here
Yahya: it does not meet our trading criteria
You: Why not.............it is an ETF
Yahya: it is not an ETF we can trade im afraid
You: Not satisfactory


Interesting I have just had a web chat with Yahya but at Halifaxsharedealing .....
Robin Stone
Posted: 04 May 2018 16:38:25(UTC)
#33

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Haha I spoke to same agent. Maybe they only have one!
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Big boy on 04/05/2018(UTC)
citymoke
Posted: 05 May 2018 09:18:01(UTC)
#34

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I'm afraid that iWeb are very restrictive in the choice of funds/trusts that they make available. I've just sold a couple of trusts with them to re-purchase them in a few days time into my ISA portfolio.

After reading some of the comments here, I really hope that they will let me re-purchase them. You've got me really worried now!

IWeb are the corner shop of platforms - very few choice of products available. But they are cheap. The downside is that I believe that they are amateurs compared to the likes of HL. I'm just wondering if they are scared stiff to put a foot wrong with the regulator and therefore if there's any slight question mark over a product, rather than research the problems properly, they just do a blanket 'computer says no' to us customers.

Very poor in my opinion and need to really get there act together if they are going to be considered a fullly functional and professional broker/platform!
1 user thanked citymoke for this post.
Tim D on 05/05/2018(UTC)
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