Profit/loss discrepency

The total I have deposited in my account is always a round number (in thousands), so the profit/loss on the account is the difference between that value and it’s current value. Easy enough.

I had some shares that are no longer considered ISA compatible, so they were moved to my GIA, fair enough.

The shares added to my GIA are worth about £100, but the account balance of my ISA, minus displayed profit/loss is now £1009.64 below what I have deposited, not £100. I’m fairly sure that it’s the profit/loss that is wrong, because the other day it showed I was £1200 up for the day when in reality it was more like £50. Since I don’t have an accurate profit/loss, I can’t replace the money that was moved to my GIA, and I honestly don’t know if I’m even in profit anymore, or indeed if I ever was.

I’ve tried to contact chat, but I’m stuck on that “Freeda” thing, I selected “My Money” option, but that was a couple of hours ago, so I’m not convinced a human is ever even going to see my message (largely because Freeda hasn’t given me the opportunity to type it), so I’ll leave it here in case anyone sees it, or on the off chance any of you guys have experienced the same.

Overall, it’s been a good 4-5 years, chaps, but with the new ISA year, I think I’m going to take the opportunity to move providers. For all the nice features on Freetrade, the thing I care about most is being able to trust the numbers I’m being shown, especially relating to account balance.

I wish you all the best of luck in your investing adventures!

I think withdrawing money doesn’t affect the “up by” figure on the portfolio. Seems to be a running total of profit/loss since I opened the account

I emptied my GIA and put everything in the ISA over the past few years, but if I go in to the GIA I see this

The figure was correct before I withdrew the money however

1 Like

I think you’re right about withdrawrals not affecting the “up by”.

Lets say I deposit 10k exactly (easy number for explaination), then it makes 2k so the value is 12k (up by 2k), then £100 is withdrawn, (so £11,900, up 2k). I should be able to deposit that £100 again to get back to where I was (£12k, up 2k), or am I being stupid here?

Basically, £100 was withdrawn, but I’d have to deposit over £1k to make: (balance - “up by”) = original deposit. I’m fairly sure the profit/loss is nonsense, the other day it showed as being up by about £1200, but the balance had only changed by about £50 and this never corrected itself, so I think it’s probably related to that.

Yeah, sounds like something is wrong, Mine has always made sense if I think of it as a running total of all profit/loss since the start, regardless of withdrawals. But your figures do sound weird

1 Like

I think you’re overthinking this - as was pointed out on a similar thread the only sure way to check this is either go through individual stock activity or even better download a CSV of all your activity.

1 Like

Well I am having a similar issue and Luke from Freetrade has referred it to the technical team. I bought £10,275 Shares and sold £250 worth and my balance is showing as £8400 that just should not be the case no matter what’s happening.

You sold shares for £250 but how much did you pay for them ? its 1st in 1st out so you may have paid more for them than £250

1 Like

I only cashed in £251.24 that should not show a discrepancy of £1600

This was my first purchase

Please see photo

Did you end up checking the export of your activity feed? You need to reconcile every transaction

4 Likes

Some of that difference looks to be the value of each share - it has changed from 6.5p on your purchase note to 0.09p on your sell note!

You need to go through each transaction from your activity CSV export to work out gain/loss for each transaction.

3 Likes

Those 28550 shares you sold at 0.0088 would have been worth ~£1855 at 0.065

I think that’s the discrepancy, approximately: 1855-251 =1604

3 Likes

Agree with the above two posts you need to reconcile all your buys and sells but buying at over 6p and selling at less than a penny adds up over time.

2 Likes

And this is the current showing still adding up to approximately £8400.00 so where has £1600 disappeared too?

I THANK ALL THE CONTRIBUTORS TO THIS THREAD!

This has been a very expensive lesson,I had no clue about FIFO and surprise surprise there was no warning when I decided to sell some of my Cineworld shares Does anyone know who made £1600 profit from me,where did the money go? Does it go into Freetrades coffers?

I need to look on the positive side,I am prepared to lose it all by gambling on CineWorld and if it fails I would have lost it all anyway and if it succeeds then the money I receive will soften this blow.

I still think this situation is absolutely outrageous and ever so slightly Immoral not giving you a warning!

You bought high and sold low this is all on you and nothing to do with fifo. of course it doesn’t go to free trade. It isnt immoral or outrageous, as you say you gambled on a stock that has been a dog with fleas for ages and losing money is the consequence.

9 Likes

When Stock Prices Drop, Where's the Money?.

3 Likes

FIFO only affects some of the calculations not the value of your holdings.

Your holdings have lost value - in one of your screenshots your 320000 shares are worth over £4k but on the shot above the value is now under £3.5k - that is money that your shares have “lost” but that doesn’t mean FT have profited by over £500. Even if you realised the loss and sold your shares FT don’t get the difference in value between your purchase price and sale price - that’s just the market changing.

FT’s stats may be out but checking for yourself is pretty simple ie just download your activity CSV and reconcile your purchases v sales v current holding values. Nothing immoral about any of this!

1 Like

I thought I was selling the shares at an average of £0.088. If I had been informed that it was going to be 0.065 I would never have sold. As you say it was my inexperience and naivety and I accept that. You have to remember that I bought the share on the 1st November and I sold them in April. I think this should be made miter clearer for inexperienced investors like myself.

You sold at £0.0088 not £0.088 you need to keep a closer eye on the figures which you would have been clearly shown before you clicked to confirm the sell order.

2 Likes

Quite simply the money went to the person who sold you those shares. They lucked out and missed the big drop.

It’s not up to Freetrade as an execution only broker to tell you whether or not you are making the right decision. the whole point of execution only is they do what you tell them without giving you financial advice on whether or not you are doing the right thing.

Incidentally if CINE eventually crashes to 0 then bailing at .0088 probably was the right thing to do at that time

1 Like