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Posts: 28
the Share Centre is in the process of being bought by Interactive Investor. The major consequence for those using them to hold your shares is the basic service fee is going to rocket next year from £2 a month to £9.99 a month - a 500% increase ! If you are a small share holder, this will wipe out any dividends earned . I am looking to move my share holdings elsewhere. So far , I have identified I can transfer them for free and only pay a £2.50 a month service fee to A J Bell who have great reviews on Trustpilot and are a WHICH best buy
Posts: 5,647
Guess it feels like a big change to you but a tenner per month isn't too bad in my book. I'm with interactive investor and they've been fine in my opinion.
Having said that, if WHICH are touting AJ Bell, maybe I should be looking into them too...
Posts: 82
I have been with A J Bell for a year and am very unhappy. Here is why:
The site is a dog – times out after 15 minutes and nothing you can do about it – tired of logging in and seeing that sad lady with a cup of tea looking out the window
You just get a menu, so it is double click on everything – no news or detail on home page.
Company look up is tedious, you have to enter all name, no ticker and no memory of past searches
Poor research and added value most of which is third party
Print out of portfolio is limited and does not reflect sequence of your columns
I suspect the spreads are not competitive but cannot prove it as don’t have a comparison
Price per trade is OK but so are many others
Often can’t buy even a meagre amount of stock but they are small caps so maybe understandable
WORST ISSUES
Over recent weeks the site has been inaccessible for long periods with no reason stated
Warning recently that paying back cash is subject to delay – again no explanation
I wrote complaining of last two issues a week ago and have got no reply!
Many seem to be happy but maybe they are not so discerning or don’t trade often
Hope this is helpful. I am looking for a more responsive and better designed site maybe with better spreads. Asked on here but got no reply. Will definitely second source.
Posts: 82
Re Which and Trustpilot 5 stars, I suspect leaders like HL and AJB are used by one off buyers on tips from friends or hunches rather than frequent demanding traders so they are happy. Bit like rave reviews of people who go (or used to go) to the Maldives raving about the hotel they went to as a one off for their honeymoon - well they would wouldn't they, rather than people like me who have been numerous times - those were the days. BTW I have heard good things about ii especially their spreads. Pricing keen and fair too. One can only really tell how good these sites are in reality by using them for a while but the transfers out can be costly.
Posts: 446
I predict The Share Centre being taken over by II will be a minor disaster for them. I have an inkling that a lot of people are leaving TSC and moving to iWeb. Why?
I logged on to iWeb to set up an account and move my shares from TSC to iWeb and up comes a warning saying there are delays moving from TSC due to them being so busy!
Also, TSC has extended the deadline for moving share accounts to from 1st Dec to 16th Dec. If that doesn't say "we're overloaded with people wanting to move" I don't know what does.
All IMO of course!