Interactive Investor Closing Irish Website

outonawing

Had an email from them today saying that last trading day on Irish website is 22/5/'20. Thereafter, they will transfer accounts to UK operation with different T&C's and different charges.

donalabu

Yeah just seen that, It £14.00 per month for Irish client and 20.00 per trade for international trades, (non UK).
Its looks expensive. It might be time to change maybe interactive brokers.

Static M.e.

I wonder how easy it is to change all positions

finisklin

This is a bit of a bummer to be honest.



Degiro has a wait time to be set up! It's like 7000 ahead of me in queue!


I don't like the overseas resident charge in this as well.



What other platforms are available to transfer easy?

neris

I noticed on the information given by them they dont say how you can change shares and cash to another broker

crobar

Yeah, have just been hit with this closure email from Interactive investor as well over the last few days. Their offer of a transfer over to their UK platform does not sound all that appealing to me...

Anyone out there with any advice, or experience of other share trading platforms that could be recommended as alternatives? DEGIRO does look quite attractive as mentioned already by another poster, but there is now a big wait time to get accepted as a new customer with them!

Any inputs appreciated!

P_Cash

Couldn't have come at a worse time, i just added more cash to the account waiting to pull the trigger.
I'll have to withdraw it now.
Back to the same question i had many years ago, whats the best broker serving the irish market.

crobar

Have been doing a little further research into few other options since yesterday.

From what I can tell, Trading 212 does not provide an option to transfer in existing shares from another broker. Not sure if anyone else who uses their platform can confirm this or not? But if that's true, then they would not be much use for people looking to move their existing holdings out of Interactive Investor.

Another option I had found was TradeStation Global, who seem to be linked with Interactive Brokers in some way. These guys seem like they might be a better option for those looking to transfer over existing holdings from another broker.

MikeSoys

i seen email too basically excluding trading charges its £14 ....in euro is equal to €16 ..so... €16×12-months=€192.... also their charges imply euro exchanges will be more expensive to trade in. i was considering davy but they are expensive too.. i already have a account with iti capital .. their software is really good(but complex) their uk too.
with brexit still down the road was considering transferring everything to say davy and have 1 account

peterofthebr

P_Cash wrote: »

Couldn't have come at a worse time, i just added more cash to the account waiting to pull the trigger.
I'll have to withdraw it now.
Back to the same question i had many years ago, whats the best broker serving the irish market.

what ever shares your waiting to buy i would still go ahead..
and move to the new interactive investor site ..maybe in a couple of months you could then transfer out to your new broker- im in the same position . looking to see if I can get CRH at a cheaper price so sitting on my hands waithing for the chance, will likely move to the new site as long as i can still have my seperate EUR ,GBP and USD accounts!!!..and see about moving everything to a euro baed broker... if there is a chance of a no deal brexit...

Static M.e.

MikeSoys wrote: »

i seen email too basically excluding trading charges its £14 ....in euro is equal to €16 ..so... €16×12-months=€192.... also their charges imply euro exchanges will be more expensive to trade in. i was considering davy but they are expensive too.. i already have a account with iti capital .. their software is really good(but complex) their uk too.
with brexit still down the road was considering transferring everything to say davy and have 1 account

Why Davy versus Degiro? I don't know anyone with a Davy account so I can't compare.

outonawing

neris wrote: »

I noticed on the information given by them they dont say how you can change shares and cash to another broker

You give all details to your new broker and they execute the transfer. My problem is that Degiro are not accepting transfers at present and Trading 212 don't appear to either.

MikeSoys

Static M.e. wrote: »

Why Davy versus Degiro? I don't know anyone with a Davy account so I can't compare.

ive seen a davy account ..its fine . ive no idea about Degiro.. only seen screenshots .. there is a waiting list of around 9k people to register.

P_Cash

peterofthebr wrote: »

what ever shares your waiting to buy i would still go ahead..
and move to the new interactive investor site ..maybe in a couple of months you could then transfer out to your new broker- im in the same position . looking to see if I can get CRH at a cheaper price so sitting on my hands waithing for the chance, will likely move to the new site as long as i can still have my seperate EUR ,GBP and USD accounts!!!..and see about moving everything to a euro baed broker... if there is a chance of a no deal brexit...

This is what i might have to do.

some brokers like IB are just too complicated to figure out, I just want to open an account and buy sell stocks, thats it. Its a pitty they dont let you filter down your requirements and give you the fees applicable.
that was one reason why i liked TDDI and II, simple fee structure.
I wish there was a broker that had the same , single page fee for a share account.

I will take a look at what II are offering, it may be the best i can find.

Does anyone know if we can keep our EUR accounts with them, im assuming yes, but i have yet to deep read on this move.

MikeSoys

i understand that you/ we can have at least a eur, gbp and usd accounts.. looking at the site below it also 'implies' this..


https://brokerchooser.com/broker-reviews/interactive-investor-review

peterofthebr

I was migrated to the new site since the roi site is being closed, looks same. but anyone who also moved ..having a issue transferring money into account?. I was expecting a page with bank info as like in the past. but it looks like it all needs to be done via a Debit card... -- anyone else see this? - perfer the other way so i could do a lump sum transfer etc..

after some searching i did find the normal , transfer IBAN info

solothinker

Great