www.x-o.co.uk is the online trading part of Jarvis Investment Management which offer possibly the lowest "Execution Only" service online for the purchase and sale of shares. Each trade is only £5.95 Other companies charge £7.95, £10.00, £11.95 or even £14.00 so you can see how competitive they are. Being an "Execution Only" service they cannot advise you on when to sell or what price to pay for your share item. Jarvis Investment is a Member of the London Stock Exchange and regulated by the Financial Services Authority. Opening an account was quick online, but naturally proof of ID and Address checks need to be carried out so allow time for forwarding of documentation to prove both. Their web pages are easy to navigate and your stock holiding is readily displayed. Wish I'd found them a long time ago, could have saved myself some money on past share dealing. There is no set-up fees to start your account with them. They also DO NOT charge a management fee or Inactivity fee to your account.
X-o is a cheap share dealing service, and you pay for what you get. This morning I sold some shares through them. The transaction never appeared on my x-o account and I had to phone up to confirm the sale went through. The money has not been added to my available balance some three hours later. When I rang up to complain I was told it was the fault of the 'system'. This is absurd. Most brokers don't take 3 hours to confirm a sale, certainly not in a highly liquid, FTSE 100 listed company. Last week one of my deals was cancelled completely, without explanation. I only discovered this some hours later, as again, it did not appear on my transaction page. I am currently transferring my portfolio to another broker. X-o are incompetent and they don't seem to care.
Sorry to hear that, I've bought and sold with them without hassle.
Iweb only charge £5 per trade-even on the phone. NO inactivity fee too
x-o.co.uk is probably a Ponzi scheme
I tried to withdraw a large balance and they got very upset.When I told them that I need the my money and I want to withdraw the most of it they threatened to close my account and charge a £60 fee!
I responded them that it is not my intention to close my account.
They got so aggressive that they closed my account without my authorisation and charge me £60 closure fee!
It is worth noting that:- x-o.co.uk offers only nominee service (effectively you aren't the outright owner of the shares but you own a stake in a pool)- many times their platform is down (even normal trading hours)- there is no automated way to withdraw funds, you have to email them and explain- if you trade on AIM the spreads they offer are ludicrous
Point taken. I don't trade a lot with them, but when I do I have found their service quite good. Maybe I was just lucky, going by what you say!
I've had A complete shocker with them. Including a CCJ that I had to get set aside after moving house, and not being informed of an adjustment.
Awful company, no customer service, I can only assume they generate revenue from the additional charges they generate through non existent communication.
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