Recent Sharewatch Experience

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djustoe

Registered User
Messages
13
Ive been using Sharewatch about 9 months now and in summary, Im pretty disappointed with the service. Portfolio valuation always messed up, takes them ages to apply funds to your client account, many securities unavailable to purchase online.
Last week I wanted to purchase shs of a particular irish bank online but it wasnt possible to purchase it online (online trading of the security had been pulled) So I rang them up to purchase.. Expecting that I would be given the online execution rate of 20 euro as opposed to the 40 euro over the phone execution rate. The trader advised that no i would have to pay the full 40 euro. I explained that previously I met the same issue of not being able to purchase online, and that I was given the online execution price over the phone. He made up some crap about that time (he didnt even know the date in question) it was related to a system issue... But on this occasion they removed the online facility to purchase the stock due to the volatility.

I dunno, maybe im missing something here but thats not my problem is it?
The whole reason I signed up to sharewatch was the ability to purchase online and the low online execution price as I dont deal in huge quantities.. Of the 4 trades Ive completed, 2 of which I couldnt purchase online!

I think I will be looking for an alternative online broker in future.
 
thanks mercman.
I will look into them.
Can you trade Irish Equities with them? Im guessing you can only pay in GBP?
Thanks
 
I tried to buy shares in a UK company with them this morning. Normally the routine is you try to do so on the website and it does not work so you get a message to ring them. You ring them tell them the online trade didn't work and do it over the phone for the online price. If you buy a sterling denominated share they transfer the funds from your € account and the job is done.

This morning I was told that I had no money in my sterling account and so I couldn't buy the shares. I have money in my € account and said I never had a problem before and he told me that it costs €30 to transfer the money to sterling as this is what they get charged. This not only seem ridiculous but it blatantly contravenes what they say on their website:
"FX Charges: If you trade shares of a currency outside your account's base currency your funds will be exchanged at spot market rates. Sharewatch does not levy any additional fees for these transactions."

This is extremely annoying.
 
I've been with Sharewatch for almost two years. I had hoped they might get their act together over time but am going to go with some other online broker next year. Sharewatch seem to be a disaster start to finish---prices are days behind, no email confirmations, always problems executing trades, delays in posting cheques, constant mess-ups on portfolio account--they are not expensive but my advice to anyone would be to stay away---I concur "extremely annoying"....
 
you reckon that 20 euro for a share transaction is not expensive??? thats crazy
 
It depends how big the transaction is, doesn't it? If you think it's expensive maybe you could suggest another (reliable) online broker that's cheaper?
 
OnDeBanks said:
I have money in my € account and said I never had a problem before and he told me that it costs €30 to transfer the money to sterling as this is what they get charged.
Click to expand...

This sounds crazy. I always ring the cash desk and ask them to convert my € to sterling. This of course is done no problem. I then buy the shares online.....when it works.

send a private message to peter byrne by clicking on the pm to sharewatch tab, in the prenious sharewatch discussion forums.
 
ondebanks. its not the same but its a cheaper alternative to trading rather than rip off irish brokers
 
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