mememe
12 Jun 2019
Slight surprise that no comments on price collapse here? I’m getting rid of UK shares as fast as I can not that they’ve done much in the past year. Bloomberg radio had an interesting discussion yesterday how bad things are when compared to Europe which in itself is not doing well. It’s scary. I’m focussing on the US market but even that is so volatile. Do let us know if you move and who to. If I did I would most likely give iWeb a try (no exit charges). @J_Westlock, is quite happy with them (I think)- basic but cheap
mememe
12 Jun 2019
Slight surprise that no comments on price collapse here? it won’t let me access the discussion board without logging in to my VP account. how do you access the boards?
J_Westlock
12 Jun 2019
Slight surprise that no comments on price collapse here? mememe: Does Saxo convert the dividends to £s or do you have to? Do you take an average rate or the rate that applies on the day the dividend is paid. Not from the multi currency accounts… it’s left in currency of the account. I convert myself to GBP on the relevant event day… and that’s what I use as far as HMRC is concerned. Should I ever forget then I’d use HMRC site to find their own rate to be used. PS. 4 years ago I asked SAXO about such a cert and they told me: “ We have the financial statement but I am not sure if this is sufficient as a standalone. As the reports are universal we would have to tailor each report to the region and individual. You will need to use a mixture of the reports. “ PPS. I just remembered that I had to complain about SAXO and eventually the Financial Ombudsman… they paid me off. It was regarding whether they considered me a Premium account holder or not.
jackdawsson
12 Jun 2019
Slight surprise that no comments on price collapse here? mememe: I’m sticking with ii for now I’m likely to trade monthly so custody charges should be low. Better the devil you know. I’m also concerned that if I close my trading account they will also shut down my VP account which I rely on heavily. I tried to ask on the discussion board if any ex-ii holders had experienced this but no one replied. Perhaps they’ve all left this site. Regards @mememe, Thanks. Points about X-O & HL appreciated & taken on board. I’d also be staying put for similar reasons (better the Devil one knows) if only UK markets weren’t facing potentially extreme hazards & disruptions. Whilst neither a No-Deal hard Brexit nor a possible Labour/SNP coalition in Number 10 are anywhere near bankers, neither are they inconceivable. Not to me at least. I know others disagree. In either of those circumstances, I can see myself mostly holding my share buys for ages & doing little else, bar taking dividends. I’m sure you’re right that many former ii posters have moved on over the past year for various reasons. Certainly many ii BBs seem a lot quieter since they abandoned their previous format. Sorry I can’t be helpful about whether ii would close down a VP account when one leaves. I’ve no idea. I’ve never had a VP account with them. - Will let folk know when I do finally move my account. Best of luck!
mememe
12 Jun 2019
Slight surprise that no comments on price collapse here? I believe they are legally obliged to send you an end of year tax certificate for dividends. They should also send a CGT report but that I think is not obligatory. I do the same as you download the data as I go along. IG has good reporting options. Does Saxo convert the dividends to £s or do you have to? Do you take an average rate or the rate that applies on the day the dividend is paid.
mememe
12 Jun 2019
Slight surprise that no comments on price collapse here? @jackdawsson, I was with X-O for years found they had larger spreads not good as others overall but this was a couple of years ago. Also restrictions on what can be traded. I didn’t like HL not only because of the higher commission but impossible to get a sensible response/resolve an issue found management quite rude. They made a right mess up of a transfer and then wouldn’t admit to it. In my opinion AJBell has gone downhill a lot I’m not sure I could recommend them They also have exit charges. I’m sticking with ii for now I’m likely to trade monthly so custody charges should be low. Better the devil you know. I’m also concerned that if I close my trading account they will also shut down my VP account which I rely on heavily. I tried to ask on the discussion board if any ex-ii holders had experienced this but no one replied. Perhaps they’ve all left this site. Regards
jackdawsson
12 Jun 2019
Slight surprise that no comments on price collapse here? mememe: @jackdawsson, do you still have a trading account with ii or have you moved? @mememe, Apology for delayed response as I only caught this notification today. As you’ll probably appreciate, changing a main broker is an important decision. Though I only ended up with ii after they took over TT Direct, all my records with TDD were also transferred over. They go back to 2010. Plus, I’m very familiar with how everything works here. If not for ii’s charges, increased again as of this week to £9.99 monthly & designed to get one trading even more, I’d not be moving anytime soon. I’m still with ii due to waiting for a more opportune time, ie. more upside in certain SPs. I want to sell some stocks before I transfer. That’ll also allow me to use up more commission-free trading credits. I’m waiting just in case of inordinate delays during the transfer. Though that process should normally take about 2 to 3 weeks, I’ve read too many times about clients being left in limbo for a lot longer. In some cases, 3 to 4+ months. What I can clarify is that I’ve whittled down my choices to 3 alternatives in order of preference: iWeb & X-O for low commission, despite very plain platforms. Hargreaves Lansdown for their more comprehensive service, but also no added charges for a share account despite much higher commission. - Regards.
PrefInvestor1
12 Jun 2019
Trumped Again! Hi @eadwig, Well in the US markets are pricing in an interest rate cut as early as July and indeed in Australia they have just had a rate cut. So the BoE hiking would be a move against that trend, with the UK inflation rate falling back towards the 2% target (2.1% in April 2019) why would they do that ?. Dont see it myself, but we’ll see. As for markets today, well we have a few up days in a row so were due a down day. No big deal ATM though is it. Im more worried about my ailing PC today. Had numerous disk errors and weird hangs and files/folders disappearing and problems booting over the last couple of days. Suspect that Ive either got a power supply problem or that my hard disk is dying. Have reconfigured the machine to run entirely off of one of the SSDs today and its working fine so far this morning (fingers crossed). Will leave it like this for a few days and if the error doesnt re-occur then that will confirm that the problem is the hard disk. Intermittent problem are always the most difficult things to identify and fix arent they. ATB Pref
devonplay
12 Jun 2019
Trumped Again! PrefInvestor1: Yes I am familiar with Mark Taber of the fixedincomeinvestor Hi @PrefInvestor1 he’s not very active on the FII site these days, you can stilll follow him on Twitter: [link] DL
PrefInvestor1
12 Jun 2019
Trumped Again! Hi @devonplay, Yes I am familiar with Mark Taber of the fixedincomeinvestor web site. I was he who led the fight against Aviva last March when they made their “cancel at par†move. He also led the fight against the Lloyds ECNs decision - but lost in court on that one. Regarding the ability to purchase preference shares I havent encountered any problems, not that I have tried to do so in a while. I do seem to recall being faced with a questionnaire at one stage to assess your suitability for holding the investment, but as I had held the many times before that was no obstacle. Might put off the average retail investor though ?. ATB Pref
Eadwig
12 Jun 2019
Trumped Again! PrefInvestor1: BUT to be honest I am not much interested in buying bonds at the moment. Until interest rates start falling (if that happens) then bond prices are just going to fall and so any investment in bonds is going to fall in capital value. The latest thinking, as discussed on the BBC this morning, is that the B of E is likely to raise next and quite ‘soon’. Not sure I believe it, but the markets are acting like they do this morning, so far anyway.
devonplay
12 Jun 2019
Trumped Again! Yep, the Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes is available. DL
devonplay
12 Jun 2019
Trumped Again! Just got round to reading the CQS New City High Yield Fund April Fact Sheets. Looks like they’ve joined us at the VPC (VSL.L) table. A fairly quiet time for the Portfolio, adding to the holding of American Tanker 9.25% 2022 in the bond space and taking advantage of a distressed seller in VPC speciality lending to add to the holding, also opening a holding in Just plc. Ordinary, some 20% below the level of the recent placing by the company. ncim.co.uk 05-HYF-Fund-May-2019-Factsheet.pdf 269.46 KB I’m going to have a look at Just PLC. I think I remeber if being available on WiseAlpha. DL
devonplay
12 Jun 2019
Trumped Again! Mark Taber, an activist on behalf of bondholders, says that historically individuals with savings looking for some return might have bought subordinated bonds or preference shares from well-established banks and building societies. These are now hard to come by for retail investors. globalcapital.com Why are Woodford and LCF fine for retail, but bank bonds not? The suspension of the Woodford Equity Income Fund and the collapse of London Capital & Finance show how retail investors lack regulatory protection. This is strange, when a source of safer returns — bonds issued by large bank — is often deemed too... DL
J_Westlock
11 Jun 2019
Slight surprise that no comments on price collapse here? mememe: I’ve still not received the FY tax certificate has Saxo sent yours? I didn’t even know SAXO provided one! I do have a non-ISA/non-SIPP account with SAXO and for my annual SA tax return I just run a report that shows divis earned… and that what I enter… in each currency. Similarly, I store the Trade Notes when I buy/sell and update a s/sheet to manage my CGT.
