Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Despite having my IPO shares in my account with Jarvis X-O, they won't let me add to it while the price is down, because they don't have the KIID - despite me sending them a copy.
Thank you for the explanation CC2015. Looks like you will get it sorted, one way or the other.
Just as a matter of interest, what were the bonus shares ?
If 130m shares were issued at £1 each, and £130m was raised, where did they come from and who got them ?
I doubt any I-web staff are on a yacht, I think they are pretty much underpaid and unappreciated.
You should have got your I-web allocation today Gerry - 100% of what you asked for (?). Not that they have bothered with a notification. I got my dividend on 29th.
If anyone tried to buy today and gets the message that no live prices are available, try buying anyway - it worked for me.
Didn't buy in the IPO because needed them in my ISA.
Well, although it says you have to post the form back, I alos e.mailed a copy last night, and they passed me this morning, which I am amazed about. So I topped up GRID and made an initial investment in Harmony.
From my extensive Google searches it looks like different brokers have different questions. I said I had no financial qualifications, no experience of trading complex instruments in a professional capacity, so I suspect HL must be much more thorough. Surely it would be enough to just sign that we understand and accept the risks ?
Obviously Lloyds/I-web etc don't have this form to fill in so just ban the investments for everyone.
So, onward and upwards for GORE, as we head to the next dividend. I think I have enough for now, so won't be messing with my holding.
Inexperienced investors need protecting from AIM oil explorers, but no one cares about that because no one else would invest. I've filled in Jarvis's questionnaire, guessing I'll fail on the education and job description, which is actually nothing to do with investment experience.
One problem is that if most "retail" investors are not allowed to invest, it cuts down potential investors and liquidity, and where will it end ? Gore is very specialist. More so than Grid, which seems to be banned with most brokers.
Did they tell you why you failed @K. I've managed to find a form to print out on Jarvis X-O. Seems straightforward enough, although I suppose they can just fail you on "what professional qualification do you have", and "what job do/did you do" if they don't like the answer. Everything is so time consuming.
What I have done, and am doing with a number of my quarterly dividend payers at the moment, is to double up, ie double my dividend, and sell back down after the ex-dividend date. That way I will have a great quarter for dividends, and am also taking some of the profit in the selling. I will use that to counter-balance some losses as I reassess my portfolio for the New Year.
Hope that makes sense.
Quick update on current investment problems. Not sure if you guys will have seen my post on VSL last week. I sold a few investments to top up, and then found that I-web have banned that investment. The reason when I asked was that I-web don't have a KIID. I checked, and there is one displayed, although it was just over a year out of date, so I contacted the company, and it was quickly updated, but I-web will still not accept orders to buy. I can still buy HONY.
Jarvis XO told me they wouldn't accept any dealing Harmony Energy Shares, saying they don't allow Specialist Fund Segment shares - but I tried to buy this morning, they have it listed, but I can't buy unless I take an appropriate investor test - by post. They have previously allowed me to deal in GRID, and that is on the SFS list, but they ignored my e.mail about this and have now banned trading with taking the test.
I am getting seriously p'd off with brokers. They allow you to buy and then ban you from adding, they won't communicate. Seriously thinking of buying some premium bonds, if I am qualified enough.
Amazed you failed the test @K. It' feels like a bit of an insult doesn't it ? Not that I have taken one yet, but I reckon I-web would faiul me out of spite. I've never had any problem buying HONY, but I will check tomorrow. This is a problem for me doing a bit of buying and selling - I may never get in again. Also, it has put me off PB at the moment because I have no idea what will happen if both my brokers refuse to accept a share. I would have thought HL would be good for anything.
Thanks for the reply @guitarsolo. I didn't realise there had been problems in the past. I tried again this morning and found the KIID had been changed to one dated around six months ago, so I was hopeful, but still got the message "We no longer allow investment in this stock".
Well, at least I have plenty. Just have to stick with those and look at taking next years ISA out elsewhere.
No, I could have bought in my Jarvis account, but my ISA and VSL holdings are with I-web, annoying that I sold £5000 of holdings to do the top up.
Nothing has been resolved as yet, have put some of the money elsewhere now.
Despite what I-web told me, there is a KIID available on their website. The only possible explanation is that it is dated 15th. October 2020. Do they need updating every year ? I wouldn't have thought so, some companies KIIDS are undated.
Someone will say "get a proper broker". Well I've been with most, and my experience is that they all treat you like dirt, so may as well have a cheap one.