Yes sadly that’s true, but if I’m not mistaken I read somewhere on the forum that they are working on allowing seamless entity changes soon.
IBKR was just what I used and recommended since it would be faster as T212 used IBKR for custody and trading and settlement, you can of course use Scalable Capital, which is a great broker as well - would just take a bit longer.
Also a big heads up, the German entity doesn’t yet support portfolio transfers, which is as crazy and ridiculous as it sounds and I was kind of forced to sell on IBKR and then transfer cash to T212 Germany account.
Now what you can still try is to initiate a transfer anyways from IBKR and hope that it will work out, doesn’t hurt, because the infrastructure is in place and the T212 app on DE entity even says it’s coming soon. Maybe it will work out.
I’m saying this because it is required by law in Germany that brokers should have a transfer in and transfer out of assets feature and that it should be completely free.