Hi all
Has this situation been resolved. Nio is still coming up in my 212 ISA account as a stock we can buy?
Thanks
Hi all
Has this situation been resolved. Nio is still coming up in my 212 ISA account as a stock we can buy?
Thanks
If we close our position in ssuch a short notice with literally no time to even considerā¦ are we getting compensated for our loss? As most of this targeted ADR has not recovered from its March crash.
update you have until September
@Hectares September (01st)
14:30 GMT US market open time.
That only one full trading day (Friday) plus 2hrs of todayās tradingā¦ that only 1 day that you have to sell out of your position at a 20% lossā¦
Mind you we are talking about ISA account that long play, not invest account where you can day trade.
Weekend Market is closedā¦ 1 day notice
Apologies i didnāt mean to give you bad news, in an earlier thread they were going to be sold today at 14:30 so thought this was a little better.
Hi, Did you recieve the notification about closing your ISA in NIO? I have an ISA in NIO too
I read that article prior to writting here.
@Hectares No offence taken
Hi, yes I did. I sold it manually yesterday, so I donĀ“t know what happens if you donāt, they said they would sell the position by today.
Has your position been sold?
Hi @David I was wondering if Trading212 have came to any solid conclusions on NIO specifically, as from my understanding it should be valid for an ISA due to the information conveyed by @EquityInvestor . I canāt for sure say it is correct but I would appreciate some more information on why it may be invalid especially after it was named one of the 90 excluded ADR stocks for ISA trading.
Hello Everyone,
Is NIO stock delisted??? I canāt find it anymore on Trading 212.
If anyone can put a bit of light would be great.
Not delisted
But not available in an ISA
Much discussion as to the reasons on a thread in this forum. Search for it. Details there.
You can still buy it in non-ISA accounts
I hold Nio shares in my T212 ISA. As I understand, Iām being forced to sell my shares immediately. I have been picking up shares since early June; this was a long term position for me. Now I have lost that opportunity and may not get the chance to buy back in at the same level again.
How can I be compensated for this? This is unacceptable and extremely unprofessional of T212 to let this happen. I will be looking to switch platforms for my shares ISA if this cannot be resolved in a fair manor. Cannot risk something like this happening again.
Excuse me to barge in, but what prevents you to buy same size position in the invest account before selling NIO positions. Thus having net neutral transaction, with minimal profit/loss based on spread.
Nothing - but Iād lose my average price per share. Also, my investment may then be subject to capital gains tax, where when I made the decision to buy within an ISA wrapper before, it wouldnāt have been.
Well higher price per share actually helps with potential future tax implications, if T212 moved your ISA position to invest account, you wouldnāt lock profits without tax, but instead have lower average price and possible tax implications for even lower profits.
As per my knowledge, you only pay capital gain tax after your reached a profit of Ā£12,300. Please correct me if I am wrong.
Canāt argue with that.
Still messy on T212ās behalf tho. Customers shouldnāt be put into the position where they are forced to sell their shares at a momentās notice. For people who are currently in the red; this situation would go against them. Also, people who arenāt always monitoring their account may not realise what has happened when they next come to check.
I agree, mistakes were made and will be made in future. After all T212 is made of humans, even though sometimes it seems the work and effort they provide is inhuman.
But occasionally everyone stumbles.
With that said, everyone has to look for best solution out of this issue, blaming t212 certainly wonāt help improve personal ābalance sheetā.
I have to agree with @Vedranā¦
honestly saying Iām upset as much as anyone else who suffered with closing their position on a red. I sold my position on red (-23%). I wont open same position in Invest acc. So Iāll have to let it go.
Itās a mishap, T212 is well aware of their mistake and honorably accepted it; however Iām still not happy with very short notice on selling a long term investment.
ISA compliance to ADR; to my knowledge was first brought on community on 06th June 2020, however @David replied 07July 2020 that compliance team will look into it. TEAM T212 took their time to investigate and perhaps work hard to find a solution for us. Its a shame we were not offer time to sell out at our convenience.
but now selling at a loss yesterday Iām focusing on my ISA future growth.
That is correct, and actually it should be very rare that a retail investor hits more than 12K profit per year, with some clever selling/buying right before the tax year ends.