Submit your review
I have been dealing through ITI Capital for the past few years.
I have to disagree with the reviews which I'm reading here.
The platform is easy to use, cash withdrawals are executed within 48 hours, dividends are added to my account on the scheduled payment day, customer service respond to emails within a short period, I have no problem contacting them by phone when required (infrequently).
Amazing how experiences differ.
My one complaint is the custody fee 0.25% per anum.
I have had the misfortune to have my portfolio automatically transferred to ITI from the failed brokers, SVS.
My experience with ITI have been appalling.
I have tried to call many times and they never answer, i just hang on for literally hours and then they cut off.
I have sent many emails... not one reply or acknowledgement.
I have had not access to my shares for over a year and they are holding up my request for a transfer to another broker and I seem to have no remedy.
Dot go near this dreadful outfit
SVS Special Administration: a Scandal in the Making
I have written previously about the collapse of brokerage SVS Securities, here: https://www.sharesoc.org/blog/insolvency-and-administration/an-update-on-svs-securities/ and here: https://www.sharesoc.org/blog/brokers/another-update-on-the-svs-special-administration/
Since my last post on this topic, things have gone from bad to worse. Not only has the transfer of assets from SVS to a new broker taken an inordinate amount of time, but the choice of broker to receive those assets seems questionable, to say the least. This debacle has been covered by press articles, here: https://citywire.co.uk/wealth-manager/news/svs-client-fury-as-new-broker-fails-to-return-278m/a1390644 and here: https://www.ftadviser.com/your-industry/2020/08/14/svs-clients-plagued-by-delays-at-new-broker/
More recently, ShareSoc has been contacted by former SVS clients who have still been unable to access their assets, more than a year since SVS’s collapse.
A firm called ITI Capital is the broker selected by the administrator, Leonard Curtis, to receive the assets of former SVS clients, and approved for that purpose by the FCA. Now, I have never heard of ITI and its principals appear to be Russian. SVS clients report that despite assurances that they would regain access to their assets by 24th July, they have still not been able to do so, nor has ITI responded to their complaints and requests.
SVS clients have written directly to the FCA, complaining about these matters. I have also written to senior FCA managers, on behalf of ShareSoc and its members, expressing concern and demanding prompt action to resolve the problems that SVS clients are still experiencing. We have also seen complaints that the client pages on ITI’s website are insecure, not using SSL encrypted protection.
The FCA is responsible for approving the transfer of assets and I find it incomprehensible that a transfer to an obscure Russian controlled broker, that seems incapable of offering acceptable service levels to SVS’s beleaguered clients, was approved.
We have not so far had a response from the FCA and ShareSoc will seek to escalate this matter through parliamentary channels if a satisfactory resolution doesn’t occur soon.
This chain of events raises further questions about the fitness for purpose of the Special Administration Regime and about intermediation of shareholdings.
Mark Bentley, Director, ShareSoc.
Zero is what you get from them.
They don't answer the phone, respond to email and a customer complaint to their Head of Compliance hasn't been answered.
No replies to queries raised by me nor by my other brokers I am transferring out to. Nothing at all being done by ITI to progress transfers.
They have failed to supply contract notes on deals made over the phone.
No ability to trade my accounts online via their platform.
ISA accounts are not identified as such.
Dividends are weeks overdue and still unpaid.
Cash and share values when visible all wrong.
Web pages used for passing on financial and personal information are insecure.
This is surely what fraud looks like.
Many fellow sufferers have reported ITI Capital to the FCA.
Yet the regulators et al are looking the other way (is it because they have been complicit)?
Check out the MoneySavingExpert thread, it gives the full story.
Never ever choose to use this broker, avoid.
ITI is the most useless broker on the planet and should not be allowed to exist. Their client service is attrocious and virtually non-existant. I suspect that a case of fraud from clients could well develop against them
What a shambles. After another investment company went into administration my assets were transferred to ITO Capital. It took many weeks for them to set up my account. I sent numerous message and all were unanswered. I asked them to close my account several weeks ago. Their website said they were processing my request for a week or so. Since then I have been unable to log in to my account. I warn others to avoid this company.
Dire. Avoid at all costs.
I have had my holdings form SVS migrated to ITI and the whole process has been appalling - I still have no access to my assets after 5 days and no-one answers the phone nor replies to emails.........AVOID