Hi, I would like to close my Freetrade account entirely, both GIA and ISA account which I’ve held for more than 2 years.
I have shares in EVRAZ plc £10 worth in my ISA which I am unable to sell (because of sanctions in place), but I am happy to write this off as 100% loss and give away / forfeit these shares. Will Freetrade allow this?
I think you partially answer your own question here.
Therefore you can’t give them away as you suggested.
Moreover, the same rules would apply to Freetrade, they can’t do anything with your shares
I thought there might be some exception where FT can remove the shares and or move it to some dormant account.
For me, I simply want to close my account entirely and it seems quite bizarre that I am unable to.
You’re probably best asking them. They might have something in place to help, they might not but you don’t get it if don’t ask.
Freetrade were unable to transfer the shares from my ISA to GIA and they can’t remove the shares either.
However, I think they done the next best thing which is to put an ongoing subscription fee waiver in place so I won’t get charged for the Standard plan (ISA), while the shares remain in limbo and I sit this one out.
That’s a fair solution. Good on Freetrade!