Lost money invested with sharewatch.com

P

PGGalway

Guest
Hi all,

I opened an account with Sharewatch.com two years ago and put my savings into Direct Sharedeal who were the brokering company at the time. Due to the volatility in the market and my own investment inexperience I never traded with Sharewatch after making the lodgement. I received an email from saying that if I wanted to continue my account I should transfer my account to ODL otherwise I would be refunded my initial deposit. I was abroad for a year and by then realized I was unequipped to manage my investment. I did nothing and expected to receive the funds back.

I just returned to Ireland to discover that no refund was ever made, Direct Sharedeal is in administration and Finn associates (administrators) have no idea or records of my original deposit. Finn Associates have also said that they have not discover any Direct Sharedeal accounts with significant funds.

I have no idea what to do next or if I will be able to get my money back. I feel so stupid that I did not transfer the money out and now I have lost what took me 10 years to accumulate. Any advice on what to do or the possibility of getting the money back would be really appreciated

Thanks
 
There seems to be some confusion as to where your money was transferred to in the first place.

As a start you should contact your bank and ask them to trace the original transfer and follow the trail from there.
 
Well...... what a surprise to hear Direct Sharedeal have gone into admin. They were a total basket case!

I had an account with them and now thankfully with FXCM (ODL) through Sharewatch and they are excellent.

Anyway i stand to be corrected here but as far as i remember when i was with Sharewatch-DSL.....your cash was held in a segregated account....with an Irish bank (Ulster bank i think) in Douglas, Cork.

Directsharedeal never had direct access to your cash even when you lodged it into your account.

I suggest that you contact Peter Byrne (MD) in Sharewatch. Surely he can help you.
 
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