Hello dear trading212 team,
as there is unfortunately still no update on the possibility of a depot transfer, I would like to be available as a BETA tester.
I mean, according to you, the feature is in the development phase and should be ready for the market soon. If I don’t take any risks and my money is still secured, wouldn’t this be a great option?
We both benefit from it, you can gain experience and I can transfer my depot.
We’ll keep in mind your suggestion, however, we don’t usually have similar beta testing, simply because our team performs all required tests before the launch.
On a side note, though - the feature’s development is currently placed on hold, as per the last update here.
The development of the feature has been put on hold? Now seriously?
So what I always said came true, Trading212 is afraid of losing a lot of customers.
I am now dragging all positions that are slightly in plus over to Trade Republic.
Thank you for the answer.
@Dividendenfreunde Transfers are on the to-do list, they’re just on hold at the moment due to the complexity of the task. IBKR is the end custodian of the assets so this feature relies almost entirely on their ability to service it at scale - it’s not something we can develop and handle internally.
interactive brokers do support in-specie transfers tho… and it is 99 out 100 times automated, very few of them (very specific ones) require manual intervention…
A wild guess would be that they need to map the T212 values to their own system to proceed with the process…
If that is the case, they really should provide a “template” for broker clients to follow (API wise or whatever) so the task falls to the broker client, like just another API.
But I am just guessing 
I hope the feature can resume implementation again
T212 uses an omnibus account in IBKR, I guess in-specie tranfers within the omnibus account are not the same as in-specie for retail clients.
It seems nonе of the no commission brokers supports in-specie transfers, and it should be a mandatory feature!
I’d go as far as to say this should be a legal/regulatory requirement by now.
You wouldn’t expect to have to sell your house instead of just moving lenders/mortgage companies.
For sure there are some commission free broker at the market which supports the feature from their beginning (scalable capital, trade republic) and that’s only two German brokers.
There are many more …
That’s a bit of a nonsense comparison really and you know it.
Not the best analogy granted, but the idea is sound. In fact the FCA published a consultation paper back in 2019 to push for brokers to make it easier for customers to transfer from one investment platform to another without having to liquidate their assets.
When people registered in T212, T212 already didn’t have this feature. So they accepted this limitation…
It’s like asking constantly and pressuring for SIPP/LISA/JISA, if not, they will go to other brokers.
Agreed, you cant complain at a company for not having a feature that didnt exists when you signed up. I chirped in because it would be a great addition but also believe it should kinda be an industry standard in my view. No pressure or constant badgering from me to implement it tho.
Yeah I remember this was just after HL published that they had a 93% retention rate YoY, however this was after they revealed it takes them around 6 months to action an in-specie transfer - for which positions are locked for the full duration.
It takes that long? I had no idea.
There are cases that it’s worth it though, plus it’s a backup mechanism.
Plus, there’s transfer in too, don’t think only transfer out. I bet transfer ins would be more.
I am not aware of any in the UK, sorry. But thanks for pointing that out.
I have a friend in Germany, that was using trader republic (or a similar local broker) and we were discussing T212:
I am speculating here, but if the two brokers are also banks, they probably obey different rules in regards to in-specie transfers.
Hey guys! There was recently announced a poll for most wanted features over on this thread: Most Wanted Features Poll 2022
If you’re following this topic as eagerly as I am, please head on over and give in-specie transfers an upvote, so T212 can see how much it matters to the community!