Sadly Iām a bit of a nerd and borderline āveteranā of this industry I guess. Ugh. Old.
In a nutshellā¦ I generally concur with the weight of opinion.
Paywalling stock = maybe not the best idea but FT need to make money somehow
Competition generally provides all these features for freeā¦ so, tough sell.
Iāve got a Plus subscription and Iām happy with itās functions. So, I dunno. Pay your money make your choice. Iām acutely aware of the reality of all these feature requests on the wallet and on the operational processes behind the scenes so Iām never going to call for free Level 2 or real time pricing etcā¦etcā¦ as they actual add little except to those who think they are day traders. Day traders can find better platforms for their needs.
Iāve also not thought about it too much as the general ānoiseā on this forum can be overwhelming.
Iām not aware of all their processes but I know that HL for example have a tendency to take between 2-3 weeks (at least in 2020) for these types of transfers once they receive the request. (That is without any additional information from the customer to aid the transfer).
Donāt get me wrong, itās stupidly slow. But 1+ months sounds like an issue with your particular broker. I had assumed you contacted your broker but Iām guessing as theyāre historically flawless that you contacted primarybid who have been unresponsive?
Still not able to nominate FT as a broker on Primary Bid - frustrating as would like to participate in the Hipgnosis (SONG) raise today. Not sure this option is on the āto doā list for FT?
FreeTrade and t212 asked NOT to be put on the PB broker list from what I heard. Not a straight through process, not something that easily integrates (right now).
Hipgnosis is already on FT and it was only a 1p discount when I looked, not great with the fees included. I know weāve said similar about primarybid before, their quoted price is often high.
as I understand it, Freetrade had said they were working with them (this is from Freetrade themselves), that seems to have either been put on hold or stopped at some point.
Thanks Finki and Adam - it was worth looking at based on Fridays close and when the RNS was issued but it dropped on Monday from 126 to 118 - in line with the market drop that day or due to the raise?
So may as well buy on FT and save the fees on the other platform
If a share is on your watchlist or in your portfolio it would be useful to know if you could buy the share at a 5% discount when itās being placed on PrimaryBid. It could be something added to curated content feed, if FT are going down that route.
Have to agree with this. There seems to be little in the way of positive reasons that a company would make use of Primary Bid. I like the idea & I hope this changes in the future but anything available on the platform right now is just being added to my warning list
That would be nice. But I donāt think it has to be āprosperā or ālast gaspā.
I know Taylor Wimpey raised and are doing fine but hardly prospered either. This was actually what highlighted the issue to me, I couldnāt understand why they went to Primary Bid without asking existing shareholders for cash first. I would have gladly contributed. However this action made me sell out as I thought it was a terrible management decision.
I can only assume their nominated broker told them that there was no market demand for equity raisingā¦but that was never made clear and is just speculation on my part.
Hipgnosis (SONG) used Primary Bid earlier this year - I would have liked to have had access to that but would have meant using another platform and the incurring fees to sell and rebuy on FT.
PB advised it was no fault of theirs that FT were not on their list of platforms that could be used.
Has anyone noticed that thereās been an increase in new raises specifically in new trusts and existing funds (downing renewables and infrastructure trust for example, and JP Morgan JARA, āhomeā was a new REIT ipo )
Any update re being able to use FT as Broker on PrimaryBid, this would be really useful feature as have had to open a GIA elsewhere just to subscribe to Cellular Goods IPO
