Selftrade

Does anyone else experience fairly frequent problems with this website?

Comments

  • Most common niggling problem I have had is when dealing (buying or selling), I get as far as finding security I want to deal and entering the quanitiy or amount I want to buy/sell it then stops and doesn't get the real time price quote.

    I think it happens more with Firefox than Internet Exporer

    Once had a Corporate Action advisory letter which failed to open - took 2 or 3 emails to convince them that I had checked all the obvious things before they sorted it

    Not sure what problems you are having - perhaps you can let the forum know and we can see if anyone experiences the same
  • My Portfolio will not display in Firefox or chrome. In fact using chrome right now, I enter my customer number & get a spinning clock and the two sets of drop down lists don't appear for login. All other websites run perfectly well and we have a fast, reliable business line at work.
  • I'm transferring an ISA to these idiots at the moment. It's taken 2 months so far and it's a cash only transfer. So much for fast payments! Phone call after phone call, broken promise after broken promise. An appalling service.
    Which other ISA provider(s) offer a comparable service at competitive rates?
  • ps I should add that I already have an ISA with them and am merging it together with the one I am transferring in.
  • When Selftrade first went over to Equiniti I found a few teething problems. However, since then I have had no problems and have found them very quick at offering all IPOs (including ORBs - not that we've had many recently). They can be a bit slow in producing contract documents but overall I would probably rate them as good as TD Waterhouse and Barclays who I also deal with. Their ORB coverage and trading platform is certainly better than either of the other two.
  • Which other ISA provider(s) offer a comparable service at competitive rates?

    Are you asking so you know which providers to avoid?

    If they are so bad, why are you transferring another ISA into them?

    I guess we all have our favourites and what might be right for one won't be right for another. Personally I really like iDealing.com. I find their website really simple (maybe I'm just used to it), contract notes are sent immediately by email, ISA admin fee is, I think, very reasonable @ £20 pa and dealing costs are also reasonable. If you have any problem dealing in bonds online then they will do it for you on the telephone and only charge the online fee (or always have for me anyway). Sales pitch over (I have no connection with them other than that I have ISA and SSAS accounts). Not so good on funds - limited availability.
  • They are absolutely find on basic admin and automated stuff. This transfer and their desperate communication and broken promises reveal another side to the company. I expected it to take some time, with the other company dragging their heels before they cough up my money. I think it's reasonable to expect Selftrade to respond to my queries, rather than say "I'll pass this query onto the xxx team" and never get a response, or promise to call or e-mail me regarding the transfer and never do. I think it's 3 secure message requests and 3 phone calls so far, with no worthwhile response to any of them, nor any indication on reasons for the delay, nor any sign of my transfer being complete.

    I have two ISAs and the bulk of my investments in these are in retail bonds. Since these aren't protected by the 75K FSCS guarantee, there seems less of a reason to pay two sets of fees. At the time I started the 2nd ISA, I envisaged adding significantly to them. Our pension changed at my work place, resulting in the company NI contributions being added back into our company pensions for our salary sacrifice. So the money that would have been added to my ISAs is now going into my company pension. Since the company NI results in an additional 13.8% going into my pension, I figure I have no chance of bettering this investment in an ISA.
  • You have my sympathy. For some reason brokers don't seem to appreciate that this is our money and we worry about it so sometimes like to have some reassurance.

    Barclays Stockbrokers has just told me that they are no longer offering facilities for SSASs so I have just started the process of transferring that account to AJ Bell Youinvest (no existing account or experience of them). They should have received the completed forms today so it will be interesting to see how long it takes and how painless it all is. I'm not in a rush but hope that it doesn't take as long as 2 months.
  • I have a SIPP with Youinvest, otherwise I'd move the ISA there. I do like the facility to trade retail bonds online and that is something you can't do on Youinvest.
    Thanks for your suggestion of idealing. I'll take a look at them if I ever get this transfer sorted.
    I don't know what an SSASs is. I shall look it up.
  • SSAS - it's like a SIPP but a bit more flexible.
  • I do like Selftrade's platform but I too have had serious admin issues with them.
    They lost a share certificate from my employer's SAYE and the process to get them to accept a replacement was far from easy.
    They are not well set up to deal with exceptions or anything out of the ordinary.

    Something that annoys me is that bond coupons are always a few days' late.
    For example, ICG 5% 2023 was paid into my Youinvest account on 24/03 but 30/03 at noon on my Selftrade account. Why?

    If Youinvest had the online functionality of Selftrade for bonds, I think I would switch albeit that would make me nervous to have all my investments with one provider which is a small company.

    Like Shotgun, I also have my ISA (bond-heavy) with Selftrade and SIPP (equities mostly) with Youinvest.
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