ITI Capital Reviews 326

It's been 8 months since my funds were transferred from SVS to these criminals. In that time I have had no access to the over £30k that should be in my account. Customer service is absolutely useless and are no help. I work, work, work to make an honest living and make sacrifices now to invest money for the future only to have it stolen by these criminals. Why aren't the FCA doing anything about this?

Hell is having an account with ITI Capital.
I genuinely don't understand how a company this incompetent is allowed to operate in the UK. The FCA has a lot to answer for.
My shares were transferred to ITI in July 2020.
I have no access to my shares and they are not actioning my ISA transfer.
E-mails are ignored, phone calls go unanswered.

I have filed a complaint with the ombudsman but short of that I don't know what else I can do to make ITI do their job.

ITI contacted me about my review, I provided all details, they said they will look into it and I've never heard from them again - classic ITIcapital. So after 5 months of starting the transfer out
1) I still am client of ITI
2) I still can't sell online my WIZZ air shares
3) I still have dividends in USD that I can't use as they have not been transform to the Phoenix platform.

I will be raising this with the Financial Ombudsman again today.

This company should not have a licence to operate.

Original post:
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I am former SVS customer & I have been trying to move away from ITI since September 2020. When I call/email accountmanagement (a t ) iticapital . com/020 7562 8001 They say that they are still "processing" the transfer, but don't mentioned any detail or completion date. I have raised the issue with Financial Ombudsman and I will do it probably again. It has been a complete nightmare as part of my portfolio is still not tradable because their internal bug.
Avoid this broker if you can. Also If FCA is reading this - how can ITI hold a licence?

Unfortunately, I wish I had access to these company reviews before I ticked yes on the transfer of my SVS funds.

I have had no access to either the cash or shares since they moved over to iTi. They are a disgrace and I can only assume they are a complete set of con artists.

Has anybody approached the Administrators who dealt with the transfer/closing of the SVS assets. I believe they have seriously misled the investors and should be held accountable for their actions and advice!

There should be a zero star review which would be more accurate!

Well here we are again. Another Month gone and still ITI have my money. An amazing business.
Makes no difference how many times you phone them and ask for an update. Usual waste of time bothering.
Totally despondent about how I am being treated.
Excuses, excuses, excuses.

Zero Rating
Probably the worst share dealing service in the world. I am an ex-SVS customer trapped with this shambles of a company. Unable to access my assets or cash, despite following correct processes to withdraw. They continue to ignore e-mails and phone calls - 0207562 8015 - was the number they advised me to call. Rings and rings before cutting out, irrespective of the time of day. If, like me, you have no choice I recommend investigating all options to recover what’s yours. I contacted the Financial Ombudsman in October and still waiting their response. I suggest everyone else does the same.
I have ticked the box to inform ITI Capital of this review, presumably it will be ignored like everything else.

ITI eventually responded in December admitting their mistakes and promising to rectify the issue, here we are two months later and still waiting.

I now see they have posted that the matter is resolved - still awaiting compensation and access to my shares.

Things don't improve for former SVS customers once you have been onboarded. If you try to trade shares you might be in for a long wait for any money you try to deposit getting into your trading account. First deposit i made took 2 working days (normal / expected timescale). Second deposit has still not made it to my trading account after 10 working days & counting. No response from emails sent to ITI account management or customer service.

I have had the misfortune to end up with ITI Capital after they took on accounts of SVS Securities, How this company are still regulated by the FCA is beyond me. They are the worst company I have ever dealt with. I have tried to transfer my small portfolio to another platform over 2m ago. They won’t provide details, they don’t answer the phone, they don’t reply to emails. Shocking outfit.
Update - as as 22.1.21 I have heard nothing from them. I requested to withdraw my cash monies 10 days ago and still have heard nothing. Regulatory rule breaches ten a penny. Won’t even give me my money that is in cash back in a timely fashion. Do not deal with this company.

I am yet another SVS transferee who has been trying for months to get a reply over an existing recognised complaint. The company treats its customers with extreme contempt and dis-respect by not acknowledging or responding to e mails or phone calls. If you do get through on the phone the operators are at very best incompetent, evasive and overtly ignorant trying anything they can to avoid taking direct action to assist, including suddenly hanging up mid sentence!!
I will persist in achieving a satisfactory outcome albeit tiresome but I would highly recommend avoiding any kind of contact with this pariah of a company.

After six months I finally got my shares back from ITI. I can not put into words the distress and embarrassment the delay has caused me. I have over £20k worth of shares that have not been transferred. I have rang on five separate occasions. The helpline is useless. It promises someone will ring back. They never do.
In spite of this I suspect this hideous excuse for a stockbroker will post a cut and paste reply telling me to ring their helpline.

Its a pity you have to give this company one star - they deserve zero. Absolutely terrible. I was an SVS customer forced to go with this useless company. They have finally setup my Phoenix account only for it to show nothing on my portfolio. I feel robbed.

DO NOT USE ITI Capital.

Dear ITI Capital,

I have already contacted you on accountmanagement at iticapital.com and support at iticapital.com. You have not responded.

This is one of the worst companies I have ever had to deal with. My shares held by SVS were moved to ITI after the former company failed. I have had to wait for weeks and months for no replies, a terrible opaque process, emails in the most verbose legalese. I'm lumbered with these jokers because of my shares being moved there when SVS failed.

If you have the choice to use this company - AVOID

Yes finally got completed...took 4 months and numerous calls to different advisors telling them everything from scratch as if they don't maintain any records of communication and

Also received an email from FCA stating they sent an email to iticapital.com so things will be sorted out soon.

And finally it got transferred with calls almost every day for 2-3 weeks.

I'm giving you one more star because I got my money back !!

Pathetic customer service, no progress. The only word they have in their dictionary is "Sorry".

My isa transfer started in Sept and no sign of moving it.

I really wonder how come they are still in business!!!

Iticapital.com please please don't provide you standard response...backlog...blah ..blah and contact us if not resolved...Copy and paste masters of standard response!

This is totally unprofessional and unacceptable

So out of touch with reality. I have sent in the past three months over 10 yesTEN emails to account management and I am still waiting for a reply. Why do you think I complained to the FOS? Still waiting for a payment of a dividend paid in September.

They don't answer calls, they don't answer emails (from me, or my broker). I have money tied up with this stupid company which I am entirely unable to access.

It seems that they are on the brink of collapse.

Absolutely awful. Have had to refer them to the Financial Ombudsman. Zero customer service. They can't spell which leads them to mess up your account because they get your name wrong. Just appalling.

Yet another customer (there are thousands of us screaming with frustration in the void) at the receiving end of appalling service. They do not answer their phones. Persistent, polite email requests for my money and my shares to be transferred out are met with a combination of silences, confused ad-hoc sporadic replies, mainly nothing and just recently confirmation they are trying to transfer somebody else's shares instead of mine to my new broker.
Two complaints have been lodged with them and neither have been given a case number by their compliance officer, Philip Eva.
This sorry saga has been going on since the end of July this year, just under five months ago now at the time of writing.

ITI will probably jump onto this shortly with glib words designed to assure you, the reader, and any potential customers (just don't, really, don't) that things aren't that bad. Dear ITI, they are and please just transfer my shares.

Readers - ignore this:

Reply from ITI Capital

Dear Client, thank you for sharing your feedback. We are sorry that you have had this experience and apologise about the delay in our response. We would like to use this opportunity to assure you that as a UK regulated broker, your funds are secure with ITI Capital.

We have now processed a majority of clients’ cash withdrawal requests. If you are still having problems, please get in touch with our account management team on xxxxx or call 020 7562 8001 and a member of our team will be happy to help you.

This broker was selected by the UK regulators to transfer SVS clients accounts and then... the hell started.
It took me several months, daily calls, daily emails and 14 complaints filing for them to finally free my assets and cash.
This is the worst broker in the industry.

Perhaps ITI's business philosophy goes by this quote,
"Only those who dare to fail greatly can ever achieve greatly.”

But seriously someone needs to have a quiet word with the MD. I think they need to admit that they have failed this will be the hardest.

You are in a hole stop trying to go down further by embarrassing yourself. My advice would be to sort our monies, records, dividends etc out and then carry out your old trick, to change name, this will be the best marketing advice.

This company is not meeting minimum threshold conditions for it to be FCA compliant, it is bizarre still continuing only a matter of time it goes under. First time in history where a company that has failed gets transferred to another company that is about to fail, you could not dream it!! Probably the same chance as winning the lottery.
The basic requirement to keep records of transactions and provide this info to client is not being met. How can i complete my returns etc ? My assets are also wrong ? This company is going to create a House of Cards collapse having knock on effect on others in this industry.