Yes, you can take all your LSE stocks with you. The transfer process is super simple (your new broker will do it for you). Also many people have more than one broker anyway.
One can always sell stocks to crystallise the gain or loss and then re-buy those elsewhere. There might be a cost in doing that, but it might really not be that much.
I am not advocating selling up and going, as some have already done, just saying the barriers to doing this are not big for everyone.
So I invest £2000k in a stock the stock loses £500 in value and I can say right I’m moving to another provider I’ll have my 2000k back please? Erm I don’t think so
Your stock is worth the same regardless of which provider it is held with. So your example of a £2000k purchase of stock with a £500 loss is worth £1999.5k regardless of whether it is held by FT or another provider.
Should’ve been 2k
And what I’m saying is your still money down do they keep the rough AVG? They must charge you for doing this or give you different buy price for stock you currently own?
It sounds more hard work than just staying for the sake of few days divs and then have to pay more commission on ales or buys?
That’s what I’m saying @NeilB people are no better off leaving still Losing out
You Have to buy stock again at a loss and your AVG will be level 0 again and with everything going on who’s to stay it ain’t going down more?
If people want to go kick them out the door let’s see if they comment after April or next month
The amount of stock you have doesn’t change if the value changes.
If you have 90,000 shell shares (just under your 2 million gbp) and you transfer them to another provider you transfer 90,000 shell shares.
Nothing changes. You don’t get charges. It’s just a transfer of assets, the value of the assets doesn’t matter.
I think the mistake might be that you’re associating the degradation of service with share value… somehow.
The option to move your assets isn’t based on getting some different asset value, it’s about the service you want to receive. People can, if they choose to, decide to move their assets to another provider which better aligns with the service they want to receive.
That works both ways. People can also decide to move their assets to freetrade
And yes. I know people who pay commission and choose to do so because they prefer the service they receive from those brokers
People seem very defensive given i assume people are posting because they have concerns and want things to get better, which will be to the benefit of freetrade in the end as a business. Its clear they are falling behind other brokers and people can leave if they want but that seem to be a standard rebuke to anyone expressing their view on things that need improving. We should all want to make it better and only by talking about it will that happen.
I think freetrade aren’t helping themselves though as their communication is often slow and when they do communicate they can never put a timeframe on anything. This subject on dividends is one example as is the simple form they need to provide to allow complex investments to be added back to the platform. Im assuming they must have an internal plan on what they will do when. These are simple fixes with big impact.
Maybe they aren’t confident in meeting any deadlines so won’t commit publicly to them, who knows.
As several people have told you above no you don’t have to re-buy LSE stock again. You take your stock with you as is - many brokers have a (free) transfer service. This standard facility reputable brokers provide is the same service that some people use (in reverse) when they transfer stock to Freetrade.
Back to the topic in hand It would be nice if the dividends and the various notification/emails all arrived at the same time. I hate getting a mail saying you have received X now and finding I spent it already the day before. I got 5 mails this morning and realised most were already spent.
Also, the hiding of the dividend notification when it is late and then put in a date previous to when it arrived in your account.
Not something that is a game changer at all but seems really sloppy, the various times of messages and money etc.
I think you might be fundamentally misunderstanding something around ownership.
Loss or gain has no bearing on ownership (unless the company goes bust).
If you have 100 shares then you have 100 shares wherever it’s gone up or down in value. The value of the share has no bearing on your ability to transfer it to another broker.