Memberships

General Chat 💬
1

Quick question, as I’m a freebie member. If I were to upgrade to the £4.99 membership. Can I cancel this any time, after a month or two if find don’t use it? Or is there a 12month requirement? Thanks

2

Hi @Jakeisme as far as I am aware there is currently no minimum lock-in for membership.

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3

Thanks for this. May give it a bit of a trial then :slight_smile:

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4

Sorry to ask another question. If I open an ISA as part of standard membership and cancel subscription after six months, what happens to the ISA? I understand I may not be able to make further purchases but can I sell at any point or will I have to sell shares in the ISA why I still have the paying membership?

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5

I have wondered that too.

6

From the page:

If you have an ISA, you’ll need to either:

  • Transfer out your ISA to another provider;

  • Close the ISA.

Once you have downgraded in the app, your account will be automatically downgraded to your chosen plan when your current payment period ends.

7

So in theory, would I be best to sell all my shares so only cash in my ISA, then lower membership? Just trying to plan exit strategy before I start.

With cash held in my ISA, I am able to withdraw that to my bank account at any time or is it stuck in my ISA until I close the ISA account?

Any help greatly received:-)

8

You have to close our transfer out the ISA before you can downgrade. If you have an open ISA account you must be on standard or plus account level.

9

Withdrawing cash from the the ISA will also lose its ‘tax free’ position.

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10

Id been looking at doing the same for the last few months. I finally did it today and so far I have been really pleased. Some great additional tools, which I look forward to trying out. You can downgrade at anytime, so theres no minimum at present. As already mentioned if you downgrade again the ISA would have to be closed. Sadly, maybe this could change in the future. Happy so far and great to be able to trial it without being locked in.

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11

Enjoying most of the additional features, it would be good to hear how others find it. Im not sure if there are a few bugs with the limit/stop order feature. Ive had a limit order fot fonix and despite being lower than my bid it didnt close. Will have to try a few more, but a little dissapounted so far, would have been bad if it hadnt have beenza small test and coulf have cost me a loss.

12

I’m enjoying it so far. Setting the buying limits have been working fine. I had a rejected stop loss set today. Not sure why tho, but that’s first one that’s done it.

13

Fonix is a small cap stock, at the time of typing only 23,000 shares have been traded today. It may have been that even though the share price ticked below your limit order request that there wasn’t enough shares to ‘trade’ to meet your request.

Hope this makes sense.

14

Hi Matthew, Thanks and yes that makes total sense. This was a really small test trade after upgrading and was only a min amount of shares just 5, its done it a few times now. Im hoping it will be a glitch as there good tools to have.

15

Glad theres been no issues Jake, and great you’re enjoying it too. Its great to be more hands on

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