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Confusion


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Confusion

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  #1 (permalink)
fab200819
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Posts: 11 since Apr 2020
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I have a problem that hopefully someone here may have had before. I bought some shares in summit therapeutics through XO For some reason these then got transferred to link asset services. I bought 233 shares last year now link asset services or signal shares can only sell Via the London stock exchange so they are the registrar for my summit therapeutics certificate. They cannot sell the shares because theyíve been transferred to the NASDAQ. I got told that BNY Mellon would be able to deal with this Iíve spoke with BNY melon and a few weeks ago sent them my share certificate and a Ben eight form now they told me that they cannot sell them because theyíre not ads. And ring them back in a week to see if they found a way to sell them .
As now Iím day trading on OANDA but Iím looking to move to a company that will give me better Leveridge with the profit from my summit shares only if I can sell them or access the funds held equal to some of the value or other way would anyone have any advice or understanding of what I can do please and thank you. Itís only hundreds but to me thatís lots.

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  #2 (permalink)
 vmodus 
Legendary Systematic Algo Trader
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Experience: Intermediate
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fab200819 View Post
I have a problem that hopefully someone here may have had before. I bought some shares in summit therapeutics through XO For some reason these then got transferred to link asset services. I bought 233 shares last year now link asset services or signal shares can only sell Via the London stock exchange so they are the registrar for my summit therapeutics certificate. They cannot sell the shares because theyíve been transferred to the NASDAQ. I got told that BNY Mellon would be able to deal with this Iíve spoke with BNY melon and a few weeks ago sent them my share certificate and a Ben eight form now they told me that they cannot sell them because theyíre not ads. And ring them back in a week to see if they found a way to sell them .
As now Iím day trading on OANDA but Iím looking to move to a company that will give me better Leveridge with the profit from my summit shares only if I can sell them or access the funds held equal to some of the value or other way would anyone have any advice or understanding of what I can do please and thank you. Itís only hundreds but to me thatís lots.

First things first. This post does not belong in Platforms and Indicators. Maybe one of the mods can move this.

Second, if you are dealing with such a small balance, why move from Oanda? They are ideal for smaller/retail traders. If you want more leverage, you will probably need a larger account. We went through the vetting process with Interactive Brokers (IB), but it was incredibly difficult to get approved. We were approved, but decided to move over the Oanda. We want to maintain a smaller forex account (our major business is futures) and after shopping a lot of brokers, Oanda fit for us.

My suggestion: cash out your shares, put the cash in Oanda and get trading.

~vmodus

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  #3 (permalink)
fab200819
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Posts: 11 since Apr 2020
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vmodus View Post
First things first. This post does not belong in Platforms and Indicators. Maybe one of the mods can move this.

Second, if you are dealing with such a small balance, why move from Oanda? They are ideal for smaller/retail traders. If you want more leverage, you will probably need a larger account. We went through the vetting process with Interactive Brokers (IB), but it was incredibly difficult to get approved. We were approved, but decided to move over the Oanda. We want to maintain a smaller forex account (our major business is futures) and after shopping a lot of brokers, Oanda fit for us.

My suggestion: cash out your shares, put the cash in Oanda and get trading.

~vmodus

Thank you for your advice that is what I will do Iíll stick with that until Iíve built something up. when I have found a broker that will be able to exchange my share certificate as with the coronavirus no company in the UK would accept it hopefully that will change soon . when it comes back from America.

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  #4 (permalink)
 whuffo 
Dallas, TX USA
 
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Be careful seeking more leverage than Oanda provides. Forex leverage is a double-edged sword that can hack you to pieces before you know what hit you.


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  #5 (permalink)
fab200819
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Posts: 11 since Apr 2020
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whuffo View Post
Be careful seeking more leverage than Oanda provides. Forex leverage is a double-edged sword that can hack you to pieces before you know what hit you.


Sent using the futures.io mobile app


Thanks for that.
Donít really want the other edge. I will stick with oanda.


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