MrBR
-
Posts
43 -
Joined
-
Last visited
-
Days Won
1
Content Type
Profiles
Forums
Blogs
Events
Store
Posts posted by MrBR
-
-
All of the dividends eventually turned up. Microsoft three weeks late. Shell around two weeks late. Some pop through almost immediately. It's really hit and miss.
-
Yep, I still haven't received dividends for Shell either. No one has even given me a pay date this time! They're just "investigating".
-
1
-
-
What's up with IG and paying dividends?
IG's official position on paying dividends is that it they will be paid within 2 business days of the pay date.
Besides ASX-listed stock, this arguably never occurs. Microsoft dividends recently were more than three weeks past pay date. Royal Dutch Shell, still outstanding, now pushing a week and a half. Suncor, Brookfield Renewable, Enbridge...any of the Canadian corps, they're always weeks late and often incorrect. Incorrect withholding tax, usually. They'll go in, then out, then back in again at an adjusted amount. Fractional refunds for stock splits or rights issues. Never come through. Ever.
My main beef (besides not getting my money) is the response. I'll always start with calling the IG helpdesk. Normally people are really good. They'll investigate. They are never able to reach the Corporate Actions team while I'm on the phone, but they almost always email me back later in the day and promise a payment date. The only problem is, it never happens. Will be paid tonight. Promise. Then nothing happens. I had the same email three times regarding Microsoft payments over a period of two weeks. Always promising the next day, and then...well, you know. Nothing.
Today, I had an email from someone at IG telling me that I had in fact been paid for a dividend - I believe their words were that it is 'reflected in my account' - the only problem is, it's not. The email was just flat wrong.
So...what do I do? I've escalated to Compliance a few times, particularly for errors with stock splits. But why should I have to? Isn't this what IG do? Stock stuff? Why should I have to keep track of every dividend and then have to follow up multiple times in order to receive a correct dividend...or even just a dividend.
B
-
1
-
-
Still haven't received this. I've had three emails now from IG saying various things - "it'll be paid either this afternoon or tomorrow' or 'we've run into issues with Microsoft dividends and it'll be paid soon". I just have to shake my head sometimes. I wonder how many people miss out on dividends or rights issues or other adjustments. If you're not watching everything like a hawk with IG, stuff just goes....missing.
-
@Rosbif....wishful thinking, I think.
-
Thanks @CharlotteIG. I figured that out on the NYSE site. I think the thing that bugged me the most was every time I contacted IG - either through livechat, phone or email - not one person could tell me if either IPO would be listed. In fact, I was told by the person on livechat that no, IG would not be listing either IPO to trade.
Seems to me that there's an internal comms breakdown. It's hard to find information from IG, or find consistent information. I've had a few great experiences from the helpdesk - actually, brilliant experiences - but the majority seem to be scrambling for info or just flat out don't know.
-
Gave up after half an hour on hold.
-
On IG's own website, it talks about the hottest upcoming IPOs: (https://www.ig.com/au/news-and-trade-ideas/3-must-watch-ipos-that-aren-t-snowflake-200914)
Well, now it's crunch time. The NYSE and NASDAQ are open for trade. Snowflake and JFrog should be trading. Snowflake is listed, but we can't trade on it (it says call IG to trade). And JFrog, well, it's not even listed.
This is despite me calling helpdesk twice this week and asking for the stocks to be listed, emailing helpdesk and asking for the stocks to be listed, tweeting IG and asking for the stocks to be listed, writing here in IG Community and asking for the stocks to be listed. Despite the fact that Snowflake is the largest tech IPO in history.
I don't get it. I thought IG was meant to be one of the big online brokers. Why doesn't this stuff just happen, on time, and simply work properly. @CharlotteIG Any insights into what is happening?
Disappointed, to say the least.
-
The NYSE is open. Snowflake is currently listed, but has a little yellow dot (i.e. contact IG to trade). So, we can't trade. JFrog still isn't listed and should also be live to trade. Bitterly disappointed in IG. We again lose out on IPOs.
-
Does anyone know when the rights issue lapses? The email from IG has no dates and I can't find anything online.
-
The email doesn't really have much in the way of info. No deadlines dates (just says TBA, which isn't super helpful if it's soon...), doesn't have the cost per share (again, TBA). So, hard to base a decision on this (which is what the email asks you to do).
To the contributor asking about calling to close the trade and sell your rights - be aware that this will likely incur a higher broker fee. In Australia it's $50 or 0.1%, whichever is greater.
-
I don't know anything that has a 37% withholding tax. Bump a complaint off to Compliance. That's when they actually look at things instead of providing a 'could be right' sort of answer.
-
Microsoft dividends were due to be paid 10 September. Still nothing in the account. What's the normal turn around time? I understand they get paid to the custodian and then split across the respective stock holders.
-
Hi,
I've just had a chat with IG about two new IPO listings scheduled next week in the US - JFrog (ticker FROG) and Sumo Logic (ticker SUMO). Aside from the Snowflake and Palantir IPOs, FROG and SUMO are two of the hottest tech IPOs scheduled for this year. I asked IG if they would be listed to trade on their go-public date of 16 and 17 September and was told - "if IG hasn't listed the IPO on their IPO webpage, then it won't be offered".
Really? I thought IG was one of the leading global share trading platforms. Why wouldn't it be listing hot-ticket IPOs on the day of public release? If this is true, it's incredibly disappointing.
B
-
I don't believe there are dates yet. It will be released on the Hong Kong and Shanghai markets only.
-
On 29/08/2018 at 20:53, PennyMoney said:
I asked Commsec about this today. Their advice is that the shares purchased through IG and held by Citicorp Nominees as custodian need to be "released to CHESS [to another broker] and you can then complete the Broker to Broker form to transfer the shares."
I have no idea what to do next... I don't have a dedicated broker. I simply want to consolidate a share holding with Commsec (although I have used ANZ in the past too)
It seems that having either an HIN (for CHESS) or an SRN for issuer-sponsored shares is critical.
If anyone has any tips, please let me know! Thanks
Yes, just complete a broker to broker form. You only need IG's PID number (there's no SRN or HIN), and obviously you need an account with Commsec with your own HIN. Takes about 1 to 1.5 weeks to process and have the stocks appear in Commsec. Costs nothing to do. And, Commsec is easy to get on the phone of you have any issues.
Transferring international stock to Commsec is different and requires a different form. You also deal with a different Commsec team. And, there's a bunch of fees associated with international trading (including a holding fee if you don't trade x amount of time each year). You'd want to really investigate before shifting international stocks.
-
Huh? I didn't receive this email.
-
I know. I gave up calling and asking them to list it. It's there, but you just can't actually trade. It's only the biggest SPAC in the history of SPACs. No big deal...😖
-
Hi all,
There are a bunch of really interesting IPOs approaching - Asana, Snowflake, Unity Software, Ant Group, Air BnB.
I'm wondering what has been your experience with IG quickly listing new companies on the IPO date. I've just done a quick search through the August IPO listings on the NASDAQ IPO calendar, and the only companies I can find through IG is CureVac and Duck Creek. Most others, although trading, appear to be unlisted. I was also interested recently in investing in the SPAC Pershing Tontine - the biggest SPAC in history - but it took three calls to IG for the stock to even be listed and trading correctly, which ended up being a week an a half after IPO date.
So, should I be relying on IG to list the big ticket IPOs on the actual listing date, or should I be considering another broker when it comes to IPOs.
Interested to hear your thoughts and previous IPO experiences.
-
1
-
-
Hi
I'm currently trying to trade (buy) Apple stock. It's trading all session, I assume pre-market, given the exchange doesn't open for another four or so hours. I'm setting Limit - Day (All sessions) in the buy, and have had my bid well over the current buy price, but it's not executing. I've tried before with JD.com.
I can never seem to purchase an all sessions stock in pre-market. Is there something I'm doing wrong? Are there some other timing issues I'm not aware of? Am I not able to trade in pre-market?
-
@CharlotteIG - something you can help with/advise on?
-
The IPO was yesterday for Pershing Square Tontine Holdings on the NYSE. I can buy stock on Commsec, but it's not listed on IG yet. What's up with that? Why is IG slow to list a new stock? The stock price jumped 6.8% on the open. Would be nice to be able to get in before much more of a price rise.
-
Second that. Sharesight is great tool. Relatively inexpensive and you can possibly claim as a tax deduction. If you're into international stocks, it's great (or in my case not so great! 😭) to see the impact on currency swings on the stocks you hold.
-
In previous SPPs for positions held with IG, I'd receive an email from the IG Corporate Actions team asking if I wanted to participate and providing instructions on how to do so. I did this earlier in the year with NAB and it went across fine. You really are at the mercy of the IG Corporate Actions team though. Oh, and btw, you also can't contact the Corporate Actions team directly. You need to go through the helpdesk if you have any questions. It's a 50/50 chance on getting a satisfactory answer there...
Agree that it's way easier having CHESS stocks and receiving the SPP directly from the issuing company.
IAG rights issue
in Shares and ETFs
Posted
I think the email said they would be allocated a few days after payment date, which was around the 8/9 October (even though they deducted payment from my account about two weeks ago!). Hoping they're tidied up soon. Possibly as the UK team starts today?