DRS ComputerShare

Ideas 💡
1

Freetrade won’t let customer’s transfer any of their shares to computershare. Technically we don’t own any of them. Look at 23 and 24 in T&C.

I have just been chatting on the app to an operator who suggested I post on here.

If enough users vote for the ability to transfer shares to ComputerShare, Freetrade might work on a solution.

Hope this will become possible soon and it helps other Freetrade users.

Thanks :pray:

2

Why do you want to transfer the share to computershare

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3

I want some of the shares I have paid for to be registered in my name. Freetrade can’t do that but computershare can.

4

It’s probably easier to sell them and buy them with another broker. Doubt this will be implemented in the near future.

But yeah, it’s common for shares to be held in a nominee account.

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5

Sorry am a little confused as you said their shares. Do you mean freetrade shares or shares you bought using their platform?

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6

Changed it to customers, sorry for the confusion :pray::star_struck:

7

Yeah your probably right only that means I lose out on my stocks and shares isa.
That’s why I made the post. If enough customers also want this feature then they might do something about it.
Did you know that at the moment customers can’t transfer any US stocks to another broker. So if something happened and you wanted to transfer you can’t

8

Computershare are an absolute crock of shit, just the worst website. If and when a short squeeze occurs, you’re going to be stuck using their website/apps. I’ve had to use them to deal with my parents’ legacy stocks.

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9

Yeah I’m a bit skeptic so, just want to move some.

10

Is the reason for this too gain benefits of being a shareholder in a company? Share holder perks?

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11

The reason I want to do it is because there is a belief on Reddit that the market is manipulated. It is estimated that synthetic shares account for many times the current float. If enough people register these shares in their own name then the float will be covered and it will prove illegal activity is taking place. I want to make money from these two stocks and have a future market that is fair

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12

Reddit is also full of antivax & dank memes - I would take it as gospel.

I’ve used comutershare and they website is appalling and expensive (compare to Freetrade)

Let the tin foil hat boys worry about potential market manipulation on AMC & GME and if you want to ride the wave fill your boots. Your holding will make next to 0 difference

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13

I got to the “belief on Reddit” 


Nothing against Clemepc but not something I would believe will make a difference, besides everyone knows shares are borrowed so it won’t do a thing in reality.

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14

I think your request is basically the same as the below, so I’d suggest adding your :+1: to that thread.

But as others have said, the whole Computershare thing is nonsense so if that is the reason you want to move them out I wouldn’t bother.

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15

Unless I missed it (please point me to the right page if i am wrong) comptuershare doesn’t provide individual CREST accounts, all share dealing outside physical share certificates are managed through the usual nominee process like most other brokers.

computershare for example hold your shares under Share Nominees Ltd (from what i read) under the exact same process that Freetrade use (Freetrade holding your shares under Freetrade Nominees Ltd.). You are the beneficial owner of the shares held by the nominee company on your behalf.

If you want to have direct name on the register ownership of the shares you will need to open an Individual CREST account at some expense. There are a few companies out there who will help you open on of these (for a cost of course), but i dont think computershare are one of them.

dont follow reddit conspiracies, you’ll lose all your money

edit: by DRS im guessing you mean Direct Registration System? and you’ve been following reddit hype about it? DRS looks to be a US/American scheme, computershare dont offer it in the UK. I suspect you’d need to open a US computershare account to take advantage of that, and of course lose out on ISA benefits. In which case your question about transfers doesn’t apply as you cant transfer an ISA to a foreign trading account.

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16

I am actually in the process of moving some old Computershare holdings into my FT GIA. I’ve been told in-specie transfers in should be possible since both companies use CREST

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17

Thanks for all the feedback. It’s been really helpful

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18

We’re a fiery community at times but glad you’ve found value in the comments @Clemepc

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19

Oh worth adding for completeness sake, while physical share certificates are under your direct name as I understand the government is looking to phase these out in favour of electronic shares. So in the UK I believe only individual crest accounts will be one of the only publicly available options to hold direct shares

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20

Freetrade won’t let customers transfer any of their shares to computershare. Technically we don’t own any of them. Look at 23 and 24 in T&C.

I have just been chatting on the app to an operator who suggested I post on here.

If enough users vote for the ability to transfer shares to ComputerShare, Freetrade might work on a solution.

Hope this will become possible soon and it helps other Freetrade users.

Thanks :pray: