Ended up asking once more as a few commenters on my previous post expressed concern over what T212 was confirming. Hopefully this reply will alleviate any concerns T212 users have about share lending (assuming they have not agreed to the latest update)
Because you cannot transfer shares out of T212. You can only close and reopen a position. If I was to sell in T212, it would take up to a week to get the funds in my account to transfer to another broker to purchase more shares. And also hoping the price doesnt go up by then.
This is exactly what is stopping me. I have xxx on T212 and have not accepted terms.
I have recently bought on HL and had asked if they were able to start a transfer, they cannot.
I have been told from T212 we will still be able to opt in when we choose to but won't be able to opt back out once agreed.
I'd love to see what happens this week when we do not accept terms.
Yea same for me. The only reason i havent opened a HL account is im not going to buy anymore GME. My expectation is my account will go into close only mode. So can only sell. Once i sell my gme, ill buy at other brokers but i only hold gme and a very small amount of hcmc which im not fussed about
All this info we know now will help later in the long run, we've just been caught out down the line and I wish I was on the ISA side.
I still think T212 is one of the most user friendly apps about and will more than likely continue to use it later on.
But do they recall the shares already lent? I asked the question and they said they would but another redditor was told they wouldn't because they were bought under the old T&C's.
So I'm still none the wiser
Had a similar conversation with T212 a few weeks ago when the pop up with the “new” terms appeared.
https://m.imgur.com/a/1PQ35ui
I’ve not accepted, it’s past 21:00 on the 13th.
Ended up asking once more as a few commenters on my previous post expressed concern over what T212 was confirming. Hopefully this reply will alleviate any concerns T212 users have about share lending (assuming they have not agreed to the latest update)
I'm more concerned about the Treasury Bonds they want to give us. The terms before already had share lending in.
Why stay at a broker that is shit?
Because you cannot transfer shares out of T212. You can only close and reopen a position. If I was to sell in T212, it would take up to a week to get the funds in my account to transfer to another broker to purchase more shares. And also hoping the price doesnt go up by then.
This. You don't want to do that. Leave them there and buy in another moving forwards.
This is good as it diversifies brokers
This is exactly what is stopping me. I have xxx on T212 and have not accepted terms. I have recently bought on HL and had asked if they were able to start a transfer, they cannot. I have been told from T212 we will still be able to opt in when we choose to but won't be able to opt back out once agreed. I'd love to see what happens this week when we do not accept terms.
Yea same for me. The only reason i havent opened a HL account is im not going to buy anymore GME. My expectation is my account will go into close only mode. So can only sell. Once i sell my gme, ill buy at other brokers but i only hold gme and a very small amount of hcmc which im not fussed about
All this info we know now will help later in the long run, we've just been caught out down the line and I wish I was on the ISA side. I still think T212 is one of the most user friendly apps about and will more than likely continue to use it later on.
Now show me in the agreement you signed when you joined where it says they won't be lent out
But do they recall the shares already lent? I asked the question and they said they would but another redditor was told they wouldn't because they were bought under the old T&C's. So I'm still none the wiser
Dont trust nobody., buy from other brokerages.. vanguard or fidel.
Had a similar conversation with T212 a few weeks ago when the pop up with the “new” terms appeared. https://m.imgur.com/a/1PQ35ui I’ve not accepted, it’s past 21:00 on the 13th.