Just to share.
I have asked to transfer my money to another provider.
The transfer got stuck due to one of my holding ETFs (MLPX) ongoing merger with another (MLPP).
This can “block” the money, typically 24 hours, but they claim for no reason whatsoever this may take up to a few days to process.
Yet we are here 3 weeks after and still no transfer. Money are all blocked by IE in form of cash, sitting there doing nothing and without the possibility of transferring them out.
Rest assure this is negligence and incompetence by IE.
Not providing good explanation or way to mitigate the problem.
Bunch of amateurs.
We are glad you reached as we always want to help. Apologies for any delay as a result of the corporate action with MLPX. We’ve issued all the new shares for most of our clients today, however, due to the issues out of our control, some accounts received only a part of the shares.
Upon receipt of the remaining shares, we will adjust your account completely and send you a confirmation email. Feel free to contact our firstname.lastname@example.org if you have any further questions. In the meantime hope you enjoy the rest of your day, and happy investing!
I am going through it with IE at the moment. I have paid money for some ETF shares in September and early October 23 however to this day it is still awaiting settlement.
So I pay for a product , have it on paper but its still “awaiting settlement”. Defo going to transfer