Review of EQi


Rated 1 out of 5 stars

Complaint sent via their platform & acknowledged by them in writing STILL unresolved

Like other reviewers, I lost confidence in Selftrade when Equiniti took them over and launched a new platform, which is totally unfit for purpose.

When they also adjusted their fee structure (i.e. increased their prices), I asked them to transfer everything to another provider (Halifax Sharedealing) during Selftrade's fee-free 'amnesty' period. However, they failed to transfer one holding (worth just over £2!) and started charging me £12 quarterly inactivity fees earlier this year. This is patently ridiculous, given that I asked them to complete a full transfer out back in 2016. I complained and received a letter from them acknowledging my complaint and outlining their timescales for handling it. However, unless they follow up in writing by 18 October 2018, they'll have breached their own complaints resolution timelines. And unless they fully resolve my complaint four weeks from 18 October 2018, I'll automatically refer them to the Financial Ombudsman Service. Assuming they've received 25+ other complaints in the past year (likely given their Trustpilot rating), the FOS will automatically levy a £550 penalty charge on them. I suspect this is the only way they might eventually wake up and offer something vaguely resembling acceptable service. Money usually talks. Finally, a note to Selftrade's Trustpilot monitor: Please DON'T ask me to send you my contact details so you can give me a call. You have all the information already via the secure messages on my account and your holding letter (ref. SQT/189044). Incidentally, for other readers' benefit, I've been very happy with Halifax Sharedealing since moving there. So I'd urge others who are still with Selftrade to vote with their feet if they remain unhappy.

October 16, 2018
Unprompted review

Reply from EQi

Hi Peter,

Thanks for leaving a review.

We’ve looked into your case and can see that our Complaint Resolution Team sent an email to you yesterday (17/10/18).

As the email explains, the last stock was missed when we completed your transfer. We’ve now transferred that stock to your new broker and refunded any fees you were charged because of the mistake.

Please email us at feedback@selftrade.co.uk if you need any more information.

Many thanks,

The Selftrade Team