ADVFN UK - be aware!

trillionaire

Junior member
28 0
So in effect, I'm the only one who sent in a letter, which they they acknowledged via email and confirmed my subscription would cease within 4 days of sending it.
Trouble is, overall they are probably the best in terms of live prices and news.
 

fastjimmy

Newbie
4 0
well having gone through the painful process of telephoning, emailing and writting in (all within the required time-scale to cancel) guess what...my credit card has been debited....will I get a refund, have to wait and see I guess....

I will now, in defence of ADVFN, confirm that after many emails, calls and general ranting I got a refund.....plus my Credit Card Co HSBC were excellent and got the money back for me, even before ADVFN agreed the refund....

Anyone who wants to cancel please send your letter recorded delivery to avoid a sticky situation!
 

Truth Seeker

Well-known member
498 16
Best idea is stay well away from these crooks. That Clem Chambers has done this scam for years, I remember this going on in 2001, people had to cancel their credit cards to stop the Direct Debits. To some of us that's impossible, but most customers end up paying for at least one month more than they wanted to, and you add that up and you will see why Chambers is a lard @rse with no morals.
 

tonster01

Member
69 4
Best idea is stay well away from these crooks. That Clem Chambers has done this scam for years, I remember this going on in 2001, people had to cancel their credit cards to stop the Direct Debits. To some of us that's impossible, but most customers end up paying for at least one month more than they wanted to, and you add that up and you will see why Chambers is a lard @rse with no morals.
Have to say, I had absolutely no trouble with them...I did send mine recorded in fairness and would of course advise you do likewise to avoid any such hassle
 

trillionaire

Junior member
28 0
There is no doubt ADVFN are slimey when it comes to cancellations via snail mail.
Saying that, when comparing services for like for like with Moneyam, Digitallook and III.co.uk - they do tend have better tools for those trading. i.e bid-offer spread charts, better top lists, combined LSE +PLUS trades, faster streaming news comparable to Reuters or Bloomberg (though the formatting is crap and their Dow Jones feed is full of generic US news crap also), better watchlist, etc
 

adclon

Newbie
1 0
As a new and very novice investor, I was about to ask about alternatives to ADVFN.
From trillionaire's comment I guess they are the best ?
Appreciate if anybody to suggest competent alternatives.
Thanks in advance for any suggestions.
 

romski

Junior member
41 0
still in there t and c's to WRITE IN 30 days notice, how sneaky!!!!

Downgrade/cancel your subscription

14. TERMINATION : This agreement will continue unless terminated in accordance with the following provisions. You may terminate your monthly agreement by giving ADVFN not less than 30 days written notice from your next monthly renewal date. You may terminate your annual agreement by giving ADVFN not less than 30 days written notice before your next annual renewal date (see address below for contact details) and ADVFN may do the same.
 

2investor4

Newbie
2 0
I had a bad experience with ADVFN. I tried to get a trial subscription and despite the screen showing me the next billing date would be a month later, I was billed straight away.

I sent them several emails asking for immediate cancellation of this account being within the seven day cancellation period. Since it was during the weekend, I called them on the Monday and the person there said he could either cancel it or convert it to a trail subscription- I chose the trial subscription.

To my indignation and annoyance, when it was due to run out, I called up ADVFN and they told me it was a paid subscription NOT TRIAL. They denied speaking to me though I have the name of the person and the time of the call.

THIS IS CHEATING AND FRAUD.

I have never ever before had such an awful experience with any other seller before - VERY UNPROFESSIONAL. I will never deal with them.

ADVFN uses the trial subscription as an opportunity to cheat its customers.

Other similar sites such as MoneyAM and DigitalLook are far more professional.
 

2investor4

Newbie
2 0
As a new and very novice investor, I was about to ask about alternatives to ADVFN.
From trillionaire's comment I guess they are the best ?
Appreciate if anybody to suggest competent alternatives.
Thanks in advance for any suggestions.
1)Morning Star
2) Digital Look
3)Money AM
4)INteractive Investor

SOme of these specially Morning STar offers far better features than ADVFN in my opinion. Hope this helps
 

CityMasterTrader

Member
77 2
Hi everyone,

I'm quite annoyed with ADVFN. I went for the 30 day free trial, which I forgot to cancel. Anyway, I decided that I was going to stay with them longer, but I wanted to know how to unsubscribe because I couldn't find the information throughout the website. I sent an e-mail asking how to cancel my subscriptionand this is the reply I received:

Thank you for contacting ADVFN Support

To cancel your ADVFN account you need to send your written consent via the postal system. ADVFN do require 30 days notice on all cancellations or downgrades. Please include your Username as part of this letter and address it as follows.

ADVFN PLC
Subs Dept
26 Throgmorton St
London
EC2N 2AN

Sorry for any inconvenience this may have caused.

Regards

Support Team
ADVFN Plc


I think this is ridiculous. Now I definitely decided to unsubscribe. I think this kind of business policy is awful. They've just lost a possible yearly subscription because they are greedy to get a free month when you decide to leave.

Good luck with your trading,

A quite angry Silvia.
A quite angry Silvia please calm down :cool:
Yes, I find that’s usually the case with these ‘free month’ subscriptions!

I had the same with Spotify…

Depending on what you were subscribing to, there a lots of trading companies who provide most of the research/data that are provided by ADVFN for free, and most do not charge.

I assume this is because they think you’ll trade with them, which you may or may not decide to do! Ah well, you know what they say about gift horses.
 

Black Jack

Junior member
37 1
As a new and very novice investor, I was about to ask about alternatives to ADVFN.
From trillionaire's comment I guess they are the best ?
Appreciate if anybody to suggest competent alternatives.
Thanks in advance for any suggestions.
would say the easiest thing to do would be to google ‘alternatives to ADVFN’. It’s the same with all recommendations; you’ll end with biased point of views. One person may say that a particular company is great but another may say they are terrible; it will all be down to personal experience.
Some of the other companies that I have come across by purely googling your questions are detailed below;
Selftrade, TradeKing, Yahoo
I am like yourself a very inexperienced trader so can’t really add much value for you but hopefully it will help you to realise that finding reliable stuff online is quite easy and definitely a quick way of getting what you want, waiting for people to respond to a forum post could take ages…..
Good luck!
 

zaggacom

Newbie
1 0
Terrible greedy little company

I subscribed to their site at a cost of £73 a year, but beware they just keep taking your money, every year, without any prior notification, no reminders, and once they have your money they will not refund it even if you advise them you want to cancel.

If you do want to cancel you have to write to them, and send it in the post! they do not accept emails, and there is no option to cancel on the actual website.

Really bad customer service they are only after your money.

Remember this is an online business but you they make really difficult to cancel, doesent this tell you something.

Yours

John


Hi everyone,

I'm quite annoyed with ADVFN. I went for the 30 day free trial, which I forgot to cancel. Anyway, I decided that I was going to stay with them longer, but I wanted to know how to unsubscribe because I couldn't find the information throughout the website. I sent an e-mail asking how to cancel my subscriptionand this is the reply I received:

Thank you for contacting ADVFN Support

To cancel your ADVFN account you need to send your written consent via the postal system. ADVFN do require 30 days notice on all cancellations or downgrades. Please include your Username as part of this letter and address it as follows.

ADVFN PLC
Subs Dept
26 Throgmorton St
London
EC2N 2AN

Sorry for any inconvenience this may have caused.

Regards

Support Team
ADVFN Plc


I think this is ridiculous. Now I definitely decided to unsubscribe. I think this kind of business policy is awful. They've just lost a possible yearly subscription because they are greedy to get a free month when you decide to leave.

Good luck with your trading,

A quite angry Silvia.
 

iandh2010

Member
53 4
ADVFN - Are they still as bad as ever

I subscribed to their site at a cost of £73 a year, but beware they just keep taking your money, every year, without any prior notification, no reminders, and once they have your money they will not refund it even if you advise them you want to cancel.

If you do want to cancel you have to write to them, and send it in the post! they do not accept emails, and there is no option to cancel on the actual website.

Really bad customer service they are only after your money.

Remember this is an online business but you they make really difficult to cancel, doesent this tell you something.

Yours

John
I was seriously thinking of getting a Level 2 account with ADVFN. the guy there said that I would get a free 1 months trial which I could cancel at any time.
Given that everyone is saying that ADVFN demand a 1 month notice to cancel and that it has to be by recorded delivery then they would definitely get 1 months subscription out of me.

I am not sure just how well Level 2 plus Level 3 Montage would work for me, hence the need for a free trial period to evaluate.

Does anyone here have experience of using Level 2, did it improve your trading success, was it worth the money, i.e. did you make more from your trading using it than not using it.

I know that the above is a tough question due to changing markets etc. but I would appreciate some feedback before I commit to something that I can't get out of for at least 1 month.

I also notice that ADVFN have declined to comment on this thread. Most companies appear to monitor this site and reply in defence when receiving adverse publicity like this thread. Must substantiate all the claims made.........
 

rartherinv

Newbie
1 0
I was seriously thinking of getting a Level 2 account with ADVFN. the guy there said that I would get a free 1 months trial which I could cancel at any time.
Given that everyone is saying that ADVFN demand a 1 month notice to cancel and that it has to be by recorded delivery then they would definitely get 1 months subscription out of me.

I am not sure just how well Level 2 plus Level 3 Montage would work for me, hence the need for a free trial period to evaluate.

Does anyone here have experience of using Level 2, did it improve your trading success, was it worth the money, i.e. did you make more from your trading using it than not using it.

I know that the above is a tough question due to changing markets etc. but I would appreciate some feedback before I commit to something that I can't get out of for at least 1 month.

I also notice that ADVFN have declined to comment on this thread. Most companies appear to monitor this site and reply in defence when receiving adverse publicity like this thread. Must substantiate all the claims made.........
I used it about 10 years ago when I was making some bigger small cap trades and I found it useful for spotting buying and selling opportunities as you get an extra layer of information compared to the rest of the retail market (you can get a good hint of when price is about to move by stalking L2 and seeing patterns in market maker or order book behaviour). Alas, I terminated it because it was so expensive relative to my portfolio size (not advfn's fault as they pay fees to LSE for each feed). If you are paying £600 a year to get a small market advantage, your portfolio needs to be worth at least £60k (1% would go towards L2 advantage), or ideally £120k+ (less than 0.5% towards L2). Above a couple hundred grand in your portfolio and I would say it is definitely worth it to get the advantage.

If you are not a very analytical person then it may not be any advantage at all, or if you are very good with analyses and numbers then it could be very advantageous. In the end all you are getting is a bunch of data and you still need to interpret it so it is not guaranteed to make you any higher returns.
 

iandh2010

Member
53 4
I used it about 10 years ago when I was making some bigger small cap trades and I found it useful for spotting buying and selling opportunities as you get an extra layer of information compared to the rest of the retail market (you can get a good hint of when price is about to move by stalking L2 and seeing patterns in market maker or order book behaviour). Alas, I terminated it because it was so expensive relative to my portfolio size (not advfn's fault as they pay fees to LSE for each feed). If you are paying £600 a year to get a small market advantage, your portfolio needs to be worth at least £60k (1% would go towards L2 advantage), or ideally £120k+ (less than 0.5% towards L2). Above a couple hundred grand in your portfolio and I would say it is definitely worth it to get the advantage.

If you are not a very analytical person then it may not be any advantage at all, or if you are very good with analyses and numbers then it could be very advantageous. In the end all you are getting is a bunch of data and you still need to interpret it so it is not guaranteed to make you any higher returns.
Hi Rartherinv
Many thanks for your insight into ADVFN Level 2.
It would appear to be a lot closer to the market makers order books and I started to understand more about the way that the market works from reading their Level 2 manual, albeit with several confusing typos!

Their guy that responded to my questions about the manual was helpful and I would like to try it out for a month but from what everyone has said, there is no such thing as a free month with ADVFN and I suspect that it would take at least that long to start to recognise the patterns in the order books and they change so rapidly from what I have seen on their videos etc.

Thanks for your comments regarding the required size of portfolio before ADVFN L2 + L3 could be expected to start to deliver a substantial return. My portfolio is nowhere near so big so I think I'll have to pass on this and just keep watching the prices!
 

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