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Halifax Investment Services

Discussion in 'Brokers' started by onemore, May 21, 2009.

  1. onemore

    onemore

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    Hi all,

    Has anyone used Halifax? I just checked out their website . What platform is that they have. www.halifax.com.au
     
  2. glenn_r

    glenn_r

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    Look at the bottom of their webpage, it appears they use them all.
     
  3. Ruby

    Ruby

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    If I told you what I know about Halifax, I would most likely be thrown off the forum. Keep away from them. Apart from anything else, they are very expensive.
     
  4. onemore

    onemore

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    Looks like tubby taylor must be wrong.

    Thanks for the info.
     
  5. noirua

    noirua

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    The group is a wholly owned subsidiary of Halifax Bank of Scotland [U.K.] PLC which in turn is a wholly owned subsidiary of the UKs Lloyds Bank Group of Companies. Lloyds Bank is effectively owned (40% of shares and additional preference stock), if only temporarily, by the UK Government in the form of preference shares and ordinary shares in the company. Lloyds Group was really bankrupt before the UK Government bailout and has huge debts.
    http://en.wikipedia.org/wiki/HBOS
     
  6. lasty

    lasty

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    Ummm NO.
    The group is an Australian company which may give the perception of that of a UK listed company but it isnt.

    However they have managed to fool one blogger in their marketing. I wonder how many others they have?

    Just because someones name is Ronald Mcdonald does necessarily mean they have big feet, wear a stripe tee shirt and act like Kevin Rudd.
    Due Diligence first people.
     
  7. Ruby

    Ruby

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    Someone sent me a private email asking for more information on Halifax, but when I tried to reply I was advised that the person did not want to receive emails....... so I will reply through the forum.

    I think that anyone contemplating using Halifax should check them out thoroughly. Some odd changes have occurred there recently. They have an AFSL - but no Authorised Representatives. A lot of the brokers who used to be Auth Reps have now ceased to be - as of 26/02/09, and they are not listed as Auth Reps elsewhere (that I could find).

    If you are giving financial advice you need to have an AFSL or be an Auhorised Representative of an AFSL holder. Check out the ASIC website and ask your potential broker at Halifax for his Auth Rep number or his AFSL number. You have a right to know.

    Ruby
     
  8. MACD

    MACD

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    I used Halifax as my broker to trade futures. It took them 2 weeks to set up an account which I ended up doing myself in 12 hours. They charge a lot moe than any other broker and their service is not exactly the best. The staff are rude and arrogant and do not resolve issues!

    I have not had good experiences with them. I have moved my account to the US and pay lower fees and am much happier.

    I would never use these guys again!:banghead:
     
  9. Ruby

    Ruby

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    In my constant search for a good broker I have spoken to a number of people who share the same view!! Andrew Baxter who runs Elite Traders is a director of Halifax, and if you go to the thread on Elite Traders (Trading Investing resources ) you will see some similar viewpoints expressed there.
     
  10. oneagainstthem

    oneagainstthem

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    Hi , can anybody tell me if they have heard of 'Double Equity' I have been trading CFD's with Halifax and I have noticed that my account balance does not relate to my margin utilisation, I complained to Halifax but they did not have a clue what the issue was until they contacted their platform provider Saxo Capital Markets, who quickly informed them that after a trade in certain companies is placed, they then half the margin% , but only for that day,it reverts back to the original margin when the markets close, which completely messes up the account balance, and gives you a nasty surprise the next day. If anyone has come across this issue with Halifax or Saxo could you please let me know when you first heard of it. I've complained about not being told this would happen,but it was a waste of time, I was told that it was the first time anybody had complained about being able to place more trades than their funds would allow!!! Yeh well you know were to stick the margin call then.
     
  11. knothead27

    knothead27 knothead27

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    Hi, we just put in a Forum entry re Halifax and wonder if it relaltes to your dilemma as well. Can we ask if you are trading thru mark Lennox or Chris Johnson in Halifax Melbourne and if so, in which types of trading other than cfds? We were not aware of the Saxa involvement
     
  12. oneagainstthem

    oneagainstthem

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    Hi, no i don't know those names, Halifax use the Saxo platform and it's clear that they don't know how it works,and they won't admit that they don't know how it works which I find worse ! i have only found the problem in cfd's because thats all I trade.
     
  13. rodwa

    rodwa

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    I totally agree. Do not go there !!!

    Have had zero satisfaction trying to resolve a complaint.

    Wish I had found this post before I signed up. Another disgruntled customer here!
     
  14. tdp1

    tdp1

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    Hi, was wondering what experience is out there as per this broker. They use the Saxo platform, but I see an ASIC measure taken with them in 2013 (enforceable undertaking) and also a complaint filed with CFTC in the US. Is the broker solid ? Thanks
     
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