Sharewatch problems/confusion

Re: Sharewatch- warning

As a neutral observer, I think the heading of the thread should be now amended as Sharewatch has addressed the original posters grievance. That would certainly be fair and would encourage other 'flamed' parties to address any problems that posters here encounter.

sharewatch said:
As promised here are the details of what happened. It was very important that we replied to the post which included the following allegations - 'appalling service', 'unhelpful people in Scotland' and finishing with 'I would strongly advise against using their services'.
  • Vodafone shares were sold
  • The person tore the Share Cert and sent in the wrong part
  • The person was contacted and made aware of this on the 16/17 by phone/letter and again on the 25th.
  • On the 25th of October we contacted the person and explained we had no option but to close the transaction
  • The transaction was closed and debt recovery would follow
  • On the 14th of November all the correct information for the same transaction arrived
  • A new transaction started on the 14th - cheque sent after settlement period
  • The person received their cheque on the 22nd and SW got €50
Click to expand...
 
Re: Sharewatch- warning

Lakeview, sorry about this but there has to be some mix up somewhere and hopefully other members will back me up on this.

Ever since the UK/Irish online trading system was launched clients who did not forget their password were forced to change it every three months when logging in to the trading site.

Since Christmas clients no longer need to call our office if they forgot it. They now click 'Forgot Password' and answer the security questions, two about personal details and one question-and-answer they provided themselves.

To back this up I asked our Head of IT who designed the platform to register with AAB and make himself available for any Tech queries. Please also send him any suggestions you may to improve the platform.

2. Not quite sure about your second query. As mentioned our dealers ask a selection of security questions (normally three). You said you were asked your Client Reference Number, Name and Address.

Finally with regards to US trading we did change our third party because they were insisting on introducing an additional $20 per month fee and every client would need to have a min of 5k in their account - not on!. This type of pricing is not what Sharewatch is about and we pulled the plug. I can imagine this board if we had agreed to these charges. Instead we have agreed terms with Cheuvreux, an investment firm which is a subsidiary of Calyon and a member of the Crédit Agricole SA group. This will be live shortly.

peter



peter
 
Wow.... now how many other sompanies have not only come on to this board and ones like but have made their IT head available..
as Phoenix says above it's time to change the thread name to something more rational and encouraging as i think Peter adn co are doing their very best to sort out the issues and going above and beyond the call of duty
 
I have used sharewatch for many years and am satisfied with the level of service. for a small investor, the fees are very reasonable, compared to the local brokers.

I have never had a problem with cheques or payments.

I find it handy that you can do the transaction online of if on the move and not technologically minded, by phone.
 
Thanks to Ravima, Phoenix_n and therave for positive postings. Glad to see the Heading changed and like Phoenix_n I hope this episode will encourage other companies to address problems that posters on AAB encounter.

We have a Seminar in Cork on Tuesday (all welcome) and even though its outside the agenda I would be happy to sit down with anyone to demo the online trading system and show how the password system works.

Enjoy the weekend,
peter
 
Sunday Independent
[FONT=Arial, Verdana, Arial]MAKE ME RICHERCompiled by NICK WEBB SHARE DEALING[/FONT]
Buy €10,000 shares in the mobile phone seller. Online share dealing firms are much cheaper than the barmy commissions charged by traditional stockbrokers.
BEST sharewatch.com €30
AVOID Campbell O'Connor €170.
Saving €140
Click to expand...
Is this correct?
 
Thanks for that RainyDay. If I were to invest €2,000 in five shares in a single transaction, would that count as five transactions (as I imagine it would) and in that case would there be much difference between Sharewatch and Campbell O'Connor? I would lean towards C.O'C but not if the transaction costs were much higher in one than the other.
 
Originally Posted by RainyDay
Are you asking me to do the sums for you?
Click to expand...
No, I'm not. I don't know what Sharewatch charges for a transaction and I merely asked if there would be much of a difference between the two costs especially in view of the Sunday Independent article.
 
sherib said:
No, I'm not. I don't know what Sharewatch charges for a transaction and I merely asked if there would be much of a difference between the two costs especially in view of the Sunday Independent article.
Click to expand...

Have you checked out their website (like I did for Camocon)?
 
Just to add my personal experience re Sharewatch.

Moved to SW from Fexco as they became too expensive.

On the positive side:
- Low charges
- Helpful employees / phone support

On the negative side:
- Password change requests are too frequent, requiring regular phone support
- online platform is poor compared to US brokers
- online trading quantites are too low, so always need to call a broker to buy/sell shares (& I'm not a big trader!)
- default account is GBP, not EUR.

Currently Considering moving to a new broker, as I find SW too troublesome. Anyone found a better alternative at similar cost?
 
Hi Lemurz,

I'd like to see if I can help with any of the 'negatives' you are experiencing with the online system.

- Password change requests are too frequent, requiring regular phone support
Click to expand...
We require that passwords are changed every 3 months and this is a security feature which many of our clients value. There should be no requirement for phone support. If you are experiencing problems with the process please PM me.

- online platform is poor compared to US brokers
Click to expand...
I would be very interested to hear what you would like to see on the system as we are very interested in hearing clients views.

- online trading quantites are too low, so always need to call a broker to buy/sell shares (& I'm not a big trader!)
Click to expand...
I'm afraid this is out of our hands as the quantities are set by the Market Makers and change throughout the day.

- default account is GBP, not EUR.
Click to expand...
There is a change to the system planned for the next few months which will change this default behavior.

I hope that answers you queries but if you have any more, please let me know.


Paul
 
RainyDay said:
Based on the [broken link removed], I reckon they would charge €80 for a €10k transaction, not the €170 quoted by the Sindo
Click to expand...

Looks like the SIindo €170 figure refers to UK transactions involving nominee accounts, as mentioned in [broken link removed].
 
Not sure if this is the right place for this (maybe an IT problem) but here goes. I use the Sharewatch/Yahoo Finance site/link to check stock prices but for the past couple of weeks the Ryanair price is stuck at €12.35. Other prices seem to update OK. I've tried everything I know to correct this like deleting cookies and deleting temporary files but nothing seems to work. Here's the link I use - [broken link removed] Can anyone help please?
 
Ryanair did a 2:1 stock split on Friday 23rd Febuary 2007 (see here) and that looks like the last price for the original pre-split stock so perhaps the new stock is listed under some new ticker or else this system just hasn't caught up with the real world or something?
 
Thanks ClubMan - I know about the split since I dipped my toe in stockwater before that happened. It seems a long time for the catch up. I wonder are other people who use that site finding the same problem?
 
Still no news on US trading? What does 'very shortly' mean. Please update us.
 
Hi again. Very shortly means yesterday, yes it is available...at last I hear you say! Apologies for the delay but this was due to the complexity of setting up US trading and more importantly securing the right price point.

Details will be on the site shortly but just wanted to let you know asap. The service is Phone Based and will be open until the close of the US market. The commission is 0.4% min $50 per trade (€36.65 approx) for Execution Only and 0.75% min $50 for Advisory & Discretionary.

If you visit The Financial Regulators website (link below) you will see two examples of Broker’s charges (€10k and €35k) for US Trades. The €10k example shows the various Brokers commissions as follows €175 €126.95 €115 €205 €180 €99.84 €125 €165 €135 €135 €210 - Sharewatch's rate is €40 applying the same FX rate for parity purposes. The second example shows the following Broker commissions for a €35k trade €399.50 €252.81 €277.50 €462.50 €480 €187.34 €362.50 €545 €360 €385 €482.50 - Sharewatch's rate is €140 applying the same FX rate.

If you have any questions please do not hesitate to contact me. I can be emailed via this site.

peter

[broken link removed]
 
You must log in or register to reply here.
Back
Top