Have any investors with holdings affected by this ISA compliance failure had any further correspondence with Trading 212 regarding this issue?
This unexpected news has created huge uncertainty for me and a significant position I hold in Nio leaving me unsure what to do…
I was told via the chat function on the app by T212 that they are working on the issue currently and there will be an update on the morning of September 1st (UK time) before the markets open in the US.
Are people closing up positions before then to try and sell at best available prices or holding and waiting for more info in the hope that the issue can be resolved?
Curios to hear how people are handling this. I am no expert on the matter but is this not a huge blunder? Not to mention serious compliance failure from a regulated entity?
Thanks Alien. I’ll be looking to do just that. I was hoping the 75m offering might have provided a nice re-entry point, but the market seems to be reacting quite well to the news. I’ll just get back on the horse.
I’ll wait to see what news T212 bring on Tuesday although it would have been nice if they gave everyone updates via the forums instead of only 1to1 on support tickets.
I also contacted support on Live chat straight away after I saw the notification this afternoon.
After a long chat, they informed me they are doing everything they can and that they are looking into trying to transfer our holdings over to the Invest account but I’m not holding my breath.
Not happy, as I’ve got stock in GW Pharma that was up for me just a month ago but has tanked 22.5% after earnings, leaving me with a £470 paper loss currently, which will be locked in if I move it from my ISA!
So what’s the sketch here David i have messaged t212 and the only response I’m basically getting is that’s it’s not there error it’s to do with the market and I won’t be getting my losses due to t212 intentionally making this stock available in isa when before hand knew they couldn’t feels like a scam to me if you could advice further to get my money back that would be great
@Zaf997855 Can you please read this thread, if your intention is to learn what happened/happening. There are many posts explaining the situation in this thread and many others in the forum, including mine:
Also, I strongly advise obtaining a dictionary before using a word like scam
Mine were sold at a loss. Should the difference also be reflected as a reduction in the ISA deposit balance and not a withdrawing? Isn’t that part of the ISA repair process or did I misunderstand?
I missed this notification as I am a long-term share holder, I found that all my shares of NIO that I bought back in May were missing yesterday and sold, really unfortunate timing too with the big sell-offs.
I decided to transfer the profits and re-invest them into NIO in my investment account, meaning that I have sacrificed 25% of my ISA space. Not only that but I had a 300%+ return on NIO with an average price of $4.20, now my reinvested shares sit at an average price of $18. After today’s bloodbath and with the new average price all of my statistics are red, unorganised and not appetising at all to look at, I can’t open the app anymore hahah.
The Isa percentage loss would be the biggest kicker for me.
I would try and change your mindset on the current gains/loss status as you are still massively up on your initial outlay. This is the mindset I have had as I was in the same situation, long term it will hopefully just be water under the bridge.
There’s probably more instances of this to come. Using the FinKi ISA Compliance tool I can still find a lot of misclassified stocks in the T212 stock universe.
To be fair FT, HL, II and other brokers have mistakes too.
