Not upheld: service quality, platform functionality, unavailability of market order quotes for non-UK shares complaint against Financial Administration Services Limited (Fidelity)

Decision detail

Summary

Mr C complained about difficulties purchasing shares in company E through Fidelity's platform between March and July 2025. He was unable to receive market order quotes and could only purchase via at-best orders. Mr C contacted Fidelity multiple times, and Fidelity initially suggested troubleshooting steps including clearing his cache. By July 2025, Fidelity identified that its execution broker had an issue preventing market order quotes. The ombudsman found that Fidelity's terms and conditions did not guarantee market orders for non-UK shares would be available, Mr C had a reasonable workaround through at-best orders, and Fidelity's responses were not unreasonable. The complaint was not upheld and no compensation was awarded.

The Ombudsman's reasoning

The ombudsman found that Fidelity's terms and conditions did not guarantee market orders or limit orders for non-UK shares would be available. Mr C had no contractual entitlement to his preferred order type. Although Mr C experienced inconvenience and frustration, Fidelity's responses were not unreasonable given that Mr C initially reported a connectivity problem that was resolved by clearing his cache. Once Fidelity understood the specific issue with market order quotes, it investigated and identified the third-party broker limitation. Mr C had a reasonable workaround through at-best orders, which he was able to use throughout the period. The ombudsman was not persuaded that E shares disappeared entirely from the platform or that Fidelity delayed unreasonably. Regarding factsheets, Mr C did not clearly complain about access to them in his messages to Fidelity, and factsheets were not part of Fidelity's core service provision.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website