As I mentioned before, I initiated the transfer from the T212 side. You are asked to enter a few details (like portfolio number on TR), at last, you get a form which you sign and that is it.
There is no place to enter an e-mail from TR, which should be contacted in matters of portfolio transfer (out of TR) …
I guess T212 has that already and contact TR themselves.
Here how the process is laid out, just an example here, I have not initiated this one:
@LipeMO Ah yes, email was probably asked when transferring to IBKR, not T212. Ideally everything should be handled by T212 with just a request to them, but in reality it doesn’t seem to go like that always. The following instruction was posted in Reddit, and although it covers slightly different use case (X-Border-Transfer of certain stocks to IBKR), I think one gets the main idea of what to do.
In short, send the transfer request document (in IBKR seems to be called Letter of Instruction) by email to TR also, and then contact T212 customer service, stating that you have submitted the document to TR already, and wish to be cc:d in any email communication between them.
I asked from T212 customer service about how transferred securities will show into their reporting. They said they will get back into it, but it seems as per video below documentation of old transactions is not migrated into new broker on portfolio transfer, but will instead show as a lump buy on transfer day with given average purchase price. Now this makes ability to specify average price extremely necessary feature indeed, especially if Current price on arrival will show securities as if bought with transfer day on market price.
Unfortunately this means a lot of stupid donkey work for saving all the purchases from Trade Republic, as they don’t have a report where purchase day, share price and number of shares would be shown. Instead, one have to click their Billing Execution document one by one for each purchase
I presume you have a screen which shows the average price you bought, the value of securities and the day price( all my brokers do). I just print screened that part just before transfer. If you have the average price you bough it and the number of share you hold, it’s easy to make the total cost of buying them.
I am not sure if Trade Republic have such view. Might be, but at least some time ago I didn’t notice anything like that. Anyway, I had to take the information of each purchase event, as in my country capital gain taxes for ETFs are calculated as FIFO based on actual purchase prices.
Well, my TR > T212 didn’t succeed either. Basically TR saying that transfer was rejected by receiving custodian. There are some experiences in Reddit of people trying to migrate from TR to IBKR, while the latter saying TR wouldn’t obey industry standards on transferring the data. Wouldn’t surprise me.
I sent a complaint to BaFin, but I guess they are not for individual cases, but more of protecting customer’s rights as a mass. I suppose I should also file a complaint to TR, and then to financial ombudsman if they still are unable to proceed.
