I think thats fair enough. All these retrospective compliance issues make me concerned for my SIPP
Fair enough as in they have banned me from buying more?
It won’t stop here next they will make us sell them.
It appears Hargreaves Lansdowne were not compliant in allowing me to buy them in the first place.
Sorry, its fair enough to be concerned by such actions from FT.
The thing with other brokers is that theyll have a process by which you can prove that you’re an experienced investor or whatever. It might be years before freetrade give you that option
Actually they don’t they just ask you if you are an experienced investor. I was only investing with Hargreaves Lansdown for 5 years and i owned the Vietnam trust almost from the beginning. Eitherway should not be available in the first place?
I’d rather not switch. I’m invested in FT, literally and metaphorically, and have had an account since day dot more or less. However, this is the straw that broke the camel’s back and I’ve lost patience.
No autoinvest, no Lisa or Jisa, no Reits in Isas, no web platform etc, and too few signs of progress. I was already concerned about the lack of range; now, a chunk of my watchlist has been removed.
I will consider FT for future Isas. After all, the platform’s helped me build a portfolio that’s of a size that an extra £100-150 a year in fees with Hargreaves Lansdown is relatively negligible.
Is this serious? What makes these companies so different to GME, 4D, Napster or MGC for example? It seems madness for this to be done retrospectively and another negative move from FT. As mentioned by others these stories are seriously starting to make me wonder about my SIPP here long term.
I actually wanted to put some in this company this month and can’t now
Is there any more actual reasoning than customers are not experienced enough? Sounds a really stupid excuse and can’t help feel there is more to it.
It’s a sad day why have they stopped buying of this fund I love mounthly paying dividends and was building positions in diver rent onces there arnt many to begin with maybe get more monthly paying dividends but shame about this freetrade please reconsider this desion
FCA guideline on complex investments is being implemented. The problem here is that are investments in which inexperienced users are not able to understand (for example) the risks involved with debt instruments.
Yes. Probably a flag has been raised.
But as you can see from the message, they will allow the purchase of these after they put in a mechanism in which you certify that you are an experienced investor who understands that these sorts of shares carry xyz risks. If you have ever bought anything on Crowdcube you have certified that you are aware of the risks etc etc - that’s the sort of thing that needs to be implemented.
Considering the current price direction of this instrument, it really puts us all in a bad place. Sure, the price can go down as well as up, but I prefer to buy regularly so in the hope that it does start moving upwards again I will be in a better position.
The numbers and performance look good to me and I already understand the risk… pretty sure we all had to agree to that when we signed up (the value of your investment may go down as well as up; you may get out less than you put in; etc).
Let me put my money where I want and stop censoring my decisions!
No this is a bit more than that. There are instruments that have particular structures and investments in them (e.g. derivatives, even bond convertibles ) which are not so easy for many share investors to understand - and therefore they have no idea how much risk they are exposing themselves to. This is also why the FCA doesn’t allow some types of financial instruments to be made available to retail customers at all.
@bitflip is 100% right. This is unlikely something someone at Freetrade woke up and decided to do. It wouldn’t surprise me if there was a communication from the FCA regarding these types of investments.
Happened with BBGI Global and AEW UK REIT as well
As annoying as this is, I’m sure it’s 100% necessary for compliance and perhaps even liability reasons.
Don’t take it personally, FT is not saying you’re too inexperienced – it must introduce some sort of questionnaire before allowing its customers to buy certain complex securities.
However, I am alarmed that FT has been offering complex products without appropriate checks.
VOF is nothing more than investment trust that owns shares in Vietnamese companies. There is two more that are no different so it’s inevitable they will stop investments in them. I can ensure those that agree with freetrades behaviour that i do own some very complicated investments.
Does anyone know if these are available on eToro?
Well those questions were easy just common sense really
Can you do mine then please
They may be different questions sent out to everyone. I might have been sent some easy ones. I just answered them all thinking i was going to lose all my money on each question lol im no expert actually far from it lol