I would rather not post this on the community site. However, I contacted Trading212 through the chat to find the support worker not addressing the issue. I understand Trading212 does not allow full portfolio transfers only partial transfers. However, one of my other brokers I use is closing down and are no longer accepting partial transfers from them to another broker. This is simply not possible. I would like to execute a full portfolio transfer from the alternative broker to Trading212. How can I do this? The Trading212 support worker suggested liaising with the broker to contact Trading212 for a complete portfolio transfer but they will not liaise. I know a few other people who are in the same situation and need to do this fairly soon before the broker closes.
It seems you got it wrong.
This is from Trading 212 Help site:
What type of transfers are supported?
They can be to and from Trading 212. You can transfer:
- Stocks (Invest account)
- Stocks & Cash (Stocks ISA)
- Cash (Stocks ISA and Cash ISA)
For most types, you can decide whether to make a full or partial transfer of your account.
Important
Stocks & cash transfers from a 212 ISA to another broker can only be for your full account.
I hope this will make more sense to you.
You can only transfer in full FROM T212 and partial or in full TO T212.
It seems you have also got it wrong (if this is the way you want to respond to people). Such ways of approaching people are not pleasant.
I have undertaken many portfolio transfers.
This is something I have been told to contact Trading212 about not you. I am raising this here as I contacted a support worker who simply could not help. Now I may be in contact with someone from Trading212 who can support.
You asked for help on an OPEN forum.
I responded POLITELY to your query.
I showed you trusted information from the TRADING 212 OFFICIAL web site.
You should really check your attitude if you want to be helped.
so, do i understand you can transfer certain shares from another provider and not have to do the full transfer?.
but you cannot do it the other way?
Yes, in the past I have undertaken partial portfolio transfers from another broker to Trading212. Now the other broker is closing down and is no longer accepting partial transfers. The broker will only accept full portfolio transfer requests coming from Trading212, strangely. I know Trading212 can undertake full portfolio transfers from some brokers, but for this one the option did not seem to be available at the time. I will see what happens. Now it seems the support team may be able to help.
Hi, are you talking about X-O by any chance? I’ve been thinking about trying to transfer my remaining shares from there to T212.
Yes. Fortunately The Trading212 team did a good job.
That’s good to know that you got it sorted out. Are your shares all transferred over now? I’ve just put in a transfer request to T212 a couple of hours ago; hopefully it will go through without a hitch, I only have one holding over there (if that helps!).
Yes they were all transferred successfully.
How did you go about arranging the transfer from X-O to T212 - do you just reach out to customer support in the online chat? I’m in the same boat, and have just signed up to T212 expecting to be able to complete a Portfolio Transfer through the app, but have now discovered the option to transfer my stocks & cash ISA (In specie) from X-O is greyed-out.
Sorry to hear that. In my case it didn’t initially allow full transfers from Jarvis but it showed the option to do a full transfer only after I contacted T212 and it still shows the option to do a Full Transfer from Jarvis for Stocks and cash (in Specie) for me at the moment. Though I did have to enter all the assets, no. of shares and average purchasing price which was a bit cumbersome. I know of a few people who still want to do a portfolio transfer to T212 from Jarvis as well. Hopefully it works for you now.
I’ll add some colour her from my experience in the security trading circles and my understanding.
There are different clearing houses / routes to trade. 212 offer services through effectively reselling a subset of Interactive Broker, and only offer on book trading to my knowledge which is why costs can be kept low.
212 potentially need to build out mechanisms to accept transfers through multiple mechanisms - popular ones are euroclear, Clearstream in Europe for example. 212 are not a fully independent broker so as such until 212 can support crossing trades, it can be difficult to transfer some stocks from some counterparties. This in itself adds extra costs so it may be simpler for the user to cash in, transfer and buy back stocks than the charges 212 would apply for such an ad hoc service.