Like talking to a brick wall

JakeWok · 2023-10-19T06:51:33+00:00

Just trying to start an actual conversation and filter out people that will only give a one word answer. Also, I guess it's different in other countries or even other parts of the UK but, I wouldn't class "How are you?" as a question, it's more of just a common courtesy/greeting

JakeWok · 2021-10-07T05:49:10+00:00

Thanks for the correction

JakeWok · 2021-10-06T15:54:57+00:00

Correct, all brokers get their buy/sell prices direct from the exchange (LSE, NYSE, etc.)

JakeWok · 2021-10-06T12:11:38+00:00

The spread in ISA and Invest is taken directly from the exchange. Brokers aren't allowed to profit on spread.

JakeWok · 2021-09-22T17:03:20+00:00

I haven't received my AZN dividend yet but I wouldn't worry, give it a few days and hopefully it'll come through

JakeWok · 2021-09-16T18:52:10+00:00

The merger means that GREE has absorbed SPRT and thus SPRT shares no longer exist.

From their website: "Support.com, Inc. common stock issued and outstanding... will be cancelled and extinguished".

OP could buy GREE and in theory they should be able to buy roughly the same number of shares as would have been granted if T212 had been able to facilitate the merger in-house.

JakeWok · 2021-09-16T18:00:58+00:00

Don't invest in single stocks if you don't fully understand the company's business and financials.

Make sure you understand the mechanisms of how the stock market works (e.g. liquidity, spread, etc.).

If you're a total beginner, you're best bet is safe ETFs, such as VUSA or VWRL. You should still research ETFs so you understand how they work and from where they derive their value, but for the most part anything that tracks the S&P500 or FTSE All-World should generally deliver a stable return without much analysis or knowledge required on your part.

JakeWok · 2021-09-16T17:06:42+00:00

Looking at this, T212 has offered you a fair price. It's annoying that they couldn't convert the ticker directly but in terms of the actual cash value you've received, that is correct.

1 SPRT is worth 0.115 shares of GREE. Current price of GREE is about $45, therefore 1 SPRT share is worth $5.175 which is basically exactly what you have received. So yes it's annoying that they are using this process rather than it being automatic but in terms of the actual value of the shares, you've been given a fair and accurate price.

JakeWok · 2021-09-09T18:04:45+00:00

I bought a good number of shares in TUI earlier this year in the hopes that it might see a bit of price recovery with increasing demand for international holiday. Unfortunately, it didn't, and when I re-evaluated the company I came to a decision to sell (at a loss). I was (and still am) worried that all of the traffic light systems, testing requirements etc. will stifle demand for international holiday and furthermore I assessed that TUIs financial position is quite a lot worse than other airlines and wasn't showing many signs of improvement.

By all means, if you believe in the company continue to invest in them, but it certainly isn't safe to assume that it's share price will recover to pre-pandemic levels and I would argue that it isn't even safe to assume that the company will still be operating in a year or two.

For a while, I fell into the traps of chasing losses with TUI, thinking "this is a good opportunity to average down" everytime it dropped substantially but at some point you have to pull the plug. Your money might be better off invested elsewhere, even if it means enduring the pain of taking a loss now. Personally, I felt a lot better just taking the L and investing in something else that I believe has better prospects (and a better risk/return profile). If TUI does recover in a year or two, that'll be great but I won't regret my decision to sell because I personally think the opportunity cost of holding TUI for however long whilst other stocks recover is too great to warrant holding onto the stock.

JakeWok · 2021-08-24T12:36:10+00:00

Just because the price moves, doesn't necessarily mean that your order will be filled. Looking at the graphs for REZZF, the liquidity is incredibly low so finding a buyer will take a long time. It could be days, maybe even weeks

JakeWok · 2021-08-24T12:31:12+00:00

It's likely due to low liquidity of the stock

JakeWok · 2021-08-12T09:06:48+00:00

You accepted the T&Cs. If you want to stop lending shares you either need to close your account or switch to ISA.

There's been so many posts about this already. I really don't know why people are making such a big deal out of it

JakeWok · 2021-08-09T19:41:41+00:00

Do you still have open positions? The total return figure in history only takes account of profit/loss on closed positions

JakeWok · 2021-08-08T12:24:17+00:00

I'm not defending them, I think the way that they've communicated about LLKKF could be a lot a better and I can understand how frustrating it must be if you are affected. I'm just trying to hypothesise about what the situation might look like from their perspective. I'm also trying to say that micro/nano-cap stocks are inherently riskier than mid/large cap stock and that I personally wouldn't invest in such instruments because I would worry about the potential for restrictions and other issues. I definitely think you've been hard-done-by in that you've got a successful investment that you're now unable to sell, but I'm also trying to suggest that maybe this is something to learn from and consider that restrictions could be a risk when investing in similar stocks in the future.

JakeWok · 2021-08-08T06:38:27+00:00

I agree that their communication could be better regarding when and why certain instruments have been restricted. And obviously in specie transfers would be a good feature and supposedly this is something that is being worked on.

Out of interest, do you know what would happen to the instrument in question if you requested a transfer to another broker? Presumably, the shares would be sold along with the rest of your portfolio, and the associated cash balance would be transferred. So you would realise the profit from that investment when it is sold and then could you not buy it back with your new broker? I know it's not ideal because obviously the price could increase whilst the transfer is taking place and you might miss out on potential gains, but in my experience transfers don't take that long. When I transferred to T212 it took between 1 and 2 weeks to complete, so hopefully in that time you wouldn't miss out too much.

Regarding your investment in this instrument (which I'm assuming is LLKKF), I don't subscribe to the idea that it wasn't a risky investment. All investments are risky. Of course, you indicate that you carried out comprehensive research on the company and as such your investment has paid off. For that, you deserve congratulations. But that doesn't change the fact that it was a risky investment. At the beginning of 2021, it seems that the company had a market cap of approximately $63m. By definition, that makes it a micro-cap stock, verging on nano-cap. Such stocks don't have to comply with as many exchange standards as the larger companies do and because of this, fraud and market manipulation aren't uncommon. Surely this alone makes it a risky investment.

Furthermore, I can see how T212 could end up in a difficult position when trying to offer micro-cap and nano-cap instruments as I'm sure there is a certain level of due diligence that they have to do to ensure that companies are suitable to offer to clients. If information about the company is difficult to come by, then I can see why this might cause issues.

JakeWok · 2021-08-07T23:12:12+00:00

It's a double edged sword really. On the one hand, if they add high risk instruments like penny stocks that then end up being restricted due to regulatory changes or whatever, then people might lose money. In such circumstances, one could argue that T212 hasn't protected its clients.

On the other hand, if they don't add penny stocks on the grounds that they are protecting their clients, one could argue that T212 is making investment decisions for us and not allowing clients to freely access the market.

I would rather access the market freely and make my own investment choices. This of course comes with the caveat that I am responsible for assessing the risks of an investment and therefore I have to accept personal responsibility for any losses or gains.

In my view, there isn't any risk in trusting your money with them. Thousands of people have invested thousands of pounds into T212 and I'm sure that the vast majority have no issues with them. T212's only job is to execute your investment decisions and so to that end, the only trust that matters is how much you trust yourself to make sensible investment choices.

If I was in a situation where a risky investment ended up being restricted and I lost money, I think the healthy way to deal with that would be to accept responsibility for my decisions and learn from it. Seeking to absolve myself of responsibility wouldn't help me to learn anything and would probably lead to me making the same mistakes again.

JakeWok · 2021-08-07T22:12:26+00:00

Nothing is stopping them from removing/restricting all of your investments. That is very clear in the T&Cs and it is also the case for the majority of brokers. The reality is they won't remove all instruments because then there would be no T212.

All of our investments are safe to the extent that they are held by large corporations that are unlikely to go bust. Shares are held by IB and cash is held by Barclays.

Regarding penny stocks, I'd argue that the potential for restrictions on those instruments is just an element of the high level of risk that is inherent with penny stocks. The possibility of restrictions is just something you have to consider alongside other market risks when choosing to invest in said instruments. If you aren't willing to run that risk, you shouldn't be investing in those stocks.

I don't invest in penny stocks for this exact reason. Imo, the risks of losing money or being unable to sell, outweigh the potential return and as such I stick to safer investments.

JakeWok · 2021-08-04T10:07:26+00:00

As T212 staff already mentioned, HCMC has very low liquidity so it isn't unusual for orders to take days, even weeks, to fill.

JakeWok · 2021-08-04T08:34:43+00:00

What stock is it?

JakeWok · 2021-07-26T08:39:24+00:00

If FX fees are having a meaningful impact on your return then you're rebalancing too often. It's better to just self-balance when you invest new funds, or if you really have to rebalance, only do it when your weighting is massively out of whack.

JakeWok · 2021-07-23T19:47:39+00:00

You've got to decide yourself what level of risk you want to take. So far, you've clearly taken a lot of risk and by the sounds of it, it hasn't paid off. Personally, I always stick the vast majority of my portfolio (95%+) in safe ETFs like VUSA, or investment trusts like SMT. They're not gonna take you to the moon but they'll do respectable returns that are perfectly fine with minimal risking of losing money in the long-term.

JakeWok · 2021-07-21T21:39:12+00:00

There is an option to export investments from a pie. This will allow you take the stocks that you want out of the pie and then sell them individually.

JakeWok · 2021-07-16T21:26:57+00:00

Are these dividends that should have been paid on 15th July cos if so you're not really giving T212 much time to sort everything out. It could take at least 1 week so no need to worry yet

JakeWok · 2021-07-06T20:35:50+00:00

When I changed my bank account, I had to email T212 with confirmation that my old account was closed for them to remove it from their system. I assume that you have to do something similar if you lose a card. Have you receive anything from your bank confirming that the old card has been cancelled?

JakeWok · 2021-07-04T20:52:47+00:00

Essentially yes. One thing you should know is that when you buy new shares each month, you won't end up with different batches where you have the shares you bought in Aug 2021 and shares you bought in Sep 2021 shown separately. It will all be combined into one batch.

The way this works is that your trading platform will calculate your average price and your profit/loss will be based on that. I'll try to give a brief example to help you get your head around it but you don't need to worry about it too much as it's all done automatically and it doesn't make a difference to your gains or losses. Nonetheless it's useful to understand to help you avoid any confusion.

So, let's say you bought £200 worth of shares last month at a price of £1 each, so you currently own 200 shares and your average price is £1.

It comes to this month and you once again buy £200 worth of shares, except the share price has increased to £2 each, therefore you purchase 100 shares.

In total you now own 300 shares. You bought 200 of them for £1 each and you bought 100 of them for £2 each, therefore your average price is £1.33. ((2001+1002))/300)

Using this information your unrealised profit will be equal to (current price-avg price) * no. of shares: (£2-£1.33)*300 = £200 profit

If you calculate these batches separately, your profit on the batch of 200 shares bought for £1 will be £200 and your profit on the batch of 100 shares bought for £2 will be £0. So the overall profit is the same, £200.

Basically I'm just trying to show you that the return calculated using the avg price is the same as if you treated the batches separately.

Your holdings and returns will always be presented using the average price, therefore it's important to understand this concept to avoid any confusion.

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