FXCM - stock trading

AntiRip

risers wrote: »

got FXCM email last friday eve too and was fuming!! They don't make enough money off the small stock holders so they just force us out. Saxo seem an obvious option to transfer shares over to, however I have some Irish stocks like Providence Resouces (very small number unfortunately) which are not duel listed and not sure what to do with them! Does anyone know of alternative online brokers who include the ISEQ in their list of exchanges?

Have a look at tddirectinvesting. They also don't have quarterly fees but you have to have over e5000 in cash or holdings.

colinm5040

AntiRip wrote: »

I have 15000 shares worth e9000. Won't be trading at all, just selling my 15000 next year when the company is bought out hopefully.

can u tell us which commpany?

AntiRip

Can anyone get through to Sharewatch at all??

Been trying to ring them all morning and the number is engaged. The free phone number isn't working and 0044 207 903650 is engaged.

I'm actually fuming as they are ignoring my emails and my request for transfer.

They've debited my account again this month for £13 and last month. Does anyone have any idea what the debiting is for?

colinm5040

I got through this morning. They said they have a back log of transfer forms to get through and transfers should be complete in 2 to 3 days.

AP_MAN wrote: »

does any one has account with these guys?
what is your experience?
do you suggest these guys?

thanks in advance

colinm5040

I got through this morning. They said they have a back log of transfer forms to get through and transfers should be complete in 2 to 3 days.

AP_MAN wrote: »

does any one has account with these guys?
what is your experience?
do you suggest these guys?

thanks in advance

mervuedude

I got the email on Monday. I have about two grands worth of shares and I planned to leave them there longterm. I got hunted out of NIB for the same thing, they were going to charge me for inactivity so I moved to FCXM. Now they're at it. I've no doubt the next company will do the same. Seems they don't want any small time investors playing in their game, drive them out and keep it all for the rich folk.

Well they've succeeded with me, I'm out. Going to cash in my chips and blow it all all drink and hookers. Sounds good actually.;)

mrshopkeeper

mervuedude wrote: »

Well they've succeeded with me, I'm out. Going to cash in my chips and blow it all all drink and hookers. Sounds good actually.;)

Sounds like more fun than sending emails to uninterested recipients that won't bother their arses to reply. Maybe I'll join you (for drinks that is, not hookers).

stocktrader

so I presume jdwaterhouse is actually tdwaterhouse?? so are they the best to move to. hassle

AP_MAN

I think so, they offer most of the markets, and as far as I know if you have 5k worth stock or balance in your account there will be no inactivy fees, I filled in the application online and sent the required forms, waiting for their response.

stocktrader wrote: »

so I presume jdwaterhouse is actually tdwaterhouse?? so are they the best to move to. hassle

Finelli

Did anyone get an email today from saxo@sharewatch.com about opening an account with Saxo?

stocktrader

AP_MAN wrote: »

I think so, they offer most of the markets, and as far as I know if you have 5k worth stock or balance in your account there will be no inactivy fees, I filled in the application online and sent the required forms, waiting for their response.

Cheers I did the same

risers

thanks for the earlier recommendation AntiRIP

A Primal Nut

So is it confirmed that TD Direct Investing is not an option for under £5,000 worth of shares? My Saxo application was denied. Do you think its possible to transfer to a non-online broker?

skydome

Hi, new poster here. Just to clarify a couple things as I have recently moved from FXCM to Saxo.

The 5k limit is only on certain shares, from what I gather its certain AIM type shares, very small cap etc. You can download thier trading platform for a demo and you will see exactly what you can and can't trade as standard. For these types of shares, they will execute a trade for you but it must be a 5k minimum transaction and done over the phone. If you are buying stocks on the main international markets its not an issue. I do have one stock they have said its unlikey they will offer, so the decision to move to them might not be appropriate depending on the types of equity you trade.

When applying, you may get the advice you are not suitable. You can just skip past this. Its probably because you didnt tick boxes saying you trade on margin, options, forex etc...... Their platform has many more options than the old ODL stock trading platform, but if you are like me and trade only in equities, its not an issue, you just dont use all the features.

The minimum opening requirements dont really seem to be an issue. I wanted to open an account with sub accounts in euro, dollar and sterling, classed as a platinum account on their site. On the website it says this requires a minimum opening amount of 60k. I said I dont have this and they said it was fine. I have my account opened and divided into the three sub accounts.

In terms of costs per trade, I have only looked at equities, but its £8 for UK and $15 for US. Here is a link to their equity trading commissions:

http://uk.saxomarkets.com/rates-conditions/shares-rates

I went with this lot over tddirectinvesting because there is absolutely no inactivtiy fee, trading in the UK and US was cheaper, and currency conversions are cheaper. The fact some minor AIM shares can't be traded is ok by me, after my experience with them I actually think its better to stay away!

Also, I have found them very helpful over the phone. You get a single point of contact who walks you through every step. They reply to mails very quickly. This was not my experience with FXCM, and by the sounds of it a few of you have shared that experience.

Ultimately its your own decision based on your trading style, but I hope this helps.

AP_MAN

yes, as far as I know, there will be quarterly inactive fees if it is under £5000, to be sure, better ring them once.

A Primal Nut wrote: »

So is it confirmed that TD Direct Investing is not an option for under £5,000 worth of shares?

it is possible, when I check with FXCM, they confirmed, even you can get certificates as well if you like, but FXCM will charge for that.

A Primal Nut wrote: »

My Saxo application was denied. Do you think its possible to transfer to a non-online broker?

AntiRip

Still stuck with Sharewatch :rolleyes: Anyone successfully transfer yet?

mikelovenotwar

Hi, so i have a small amount of shares with fxcm that are worth about a quarter of what i paid. seeing as its not worth my while selling them i want to hold onto them in the hope that they'll appreciate. i'm a novice at this game and not interested in doing any more trading for the time being or paying fees etc. is it a possibility to close my fxcm account and have them send me a share certificate that i can hold onto for the next few years? or is it necessary to move to another company, saxo etc? thanks

AP_MAN

That was quick, sent forms by post last Thursday and got an email just now that my TDwaterdouse trading account is open and active ready to go..

AntiRip

AP_MAN wrote: »

That was quick, sent forms by post last Thursday and got an email just now that my TDwaterdouse trading account is open and active ready to go..

Rang sharewatch this morning and they told me I had to get SAXO to initiate the transfer. After signing forms for sharewatch I now have to sign forms for SAXO.

Found out the reason I was been charged monthly also. As I had bought shares in sterling and I had euros in my account I was being charged interest. I really shouldn't be in this game at all. Costly learning curve

Kristopherus

Anyone get an email today from FXCM asking for update details and saying that they were re-hashing their trading platform?

AP_MAN

yes I did get an email today to update my details, but I do not care because I am moving my portfolio to TD waterhouse, my TD account is just opened today.

Kristopherus wrote: »

Anyone get an email today from FXCM asking for update details and saying that they were re-hashing their trading platform?

vicwatson

Kristopherus wrote: »

Anyone get an email today from FXCM asking for update details and saying that they were re-hashing their trading platform?

Yes I did too, is it Kosher? It's not even a secure webpage which I find bizzare?

Is it safe ya think?

AP_MAN

better ring them, to be safer, do not update your details on that unsecured page.

vicwatson wrote: »

Yes I did too, is it Kosher? It's not even a secure webpage which I find bizzare?

Is it safe ya think?

AntiRip

My shares finally transferred over to Saxo today. It's been so much bloody hassle!

One thing though, my shares in Saxo state I bought them at a higher price than I actually bought the stock in sharewatch which is strange.

vicwatson

Am fed up with trying to get fixed up with an account with Sharewatch/FXCM.

Anyone tell me how to offload shares I have, the easiest and cheapest way? They are with computershare, would it be best to let them sell them?

Anyone any idea on their charges?

Thanks

stocktrader

got email from tdwaterhouse saying transfer will take 6 weeks. seems very long...

vicwatson

Anyone tell me how to offload shares I have, the easiest and cheapest way? They are with computershare, would it be best to let them sell them?

Anyone any idea on their charges?

Thanks

Lord TSC

So Saxo have declined my application for an account. I'm sending them an e-mail now asking why, and will be sending a stinker to both them and FXCM tomorrow.

I knew I'd be declined when I started filling out the form and it was asking me about income and all that ****. I'm fuming; I don't see the point of FXCM offering an alternative for those people who don't trade regularly and in large quantities if the alternative aren't all that interested either.

Has anyone any suggestions as to what I can do as an investor with 500€ worth of stock? I don't want to get mauled by inactivity fees or cashing out fees and the likes, but it seems there's little choice (if any) where I can go without having to risk fees eating into profit margins. I'm really panicking now and could really do with some advice

Ideo

Teamshadowclan wrote: »

So Saxo have declined my application for an account. I'm sending them an e-mail now asking why, and will be sending a stinker to both them and FXCM tomorrow.

I knew I'd be declined when I started filling out the form and it was asking me about income and all that ****. I'm fuming; I don't see the point of FXCM offering an alternative for those people who don't trade regularly and in large quantities if the alternative aren't all that interested either.

Has anyone any suggestions as to what I can do as an investor with 500€ worth of stock? I don't want to get mauled by inactivity fees or cashing out fees and the likes, but it seems there's little choice (if any) where I can go without having to risk fees eating into profit margins. I'm really panicking now and could really do with some advice

Its €25 to order a paper share cert from FXCM. Currently trying to transfer my small holdings €1k to paper and then I'll close the account

Lord TSC

What do you do then with the paper share cert? Just keep them at home? Is there a risk to that?

And say I want to cash them out then? How do I do that? Go and sign up with a crowd, post them off and then immediately sell them?