Hi team,
When is the transfer of shares between broker going to go live ?
Assuming I change country I would like to send my shares without having to sell and rebuy because this is not a good deal.
If I move to the USA, I want to be able to move my shares to another broker or at least moving them to Interactive Broker since they are the custodian of T212 users.
Thanks for considering prioritizing this instead of un-use feature.
Thanks.
You want to see this thread:
In specie transfers arenāt a thing, at least as of yet.
While i believe it is not in the current development pipeline, I do think it may be considered, eventually. But not happening anytime soon.
Maybe @Team212 has more recent infos on the topic?
Maybe fractional shares & stocks influence the specie transfers. Whole shares & stocks would be more feasible.
That is a valid precision.
If and when in-specie transfers become a thing, then fractional shares would still be sold off for cash transfer instead. Only full shares will be eligible for in-specie transfers.
It really baffles me why FCA cannot mandate all regulated brokers to be able to transfer stock and & shares Isa freely without having to liquidate your assets.
Invest account could be a different kettle of fish as not all the shares that can be bought on the platform are eligible for an ISA.
Why freely transfer cash ISAās but not stocks & shares ISAās?
probably because cash in an account is just a bunch of ones and zeroās on a screen, while stocks are real assets with registered owners that need a validation system to move lawfully.
Exactly this. It needs to come from the FCA as there are two separate parties that need to participate in this process. That way regardless the pain involved in the transfer, all brokers have to offer the service.
If you find a petition or something on this Iām more than happy to sign to lobby for change.
Hey 
,
The feature is in development, as we speak, yet we are not ready to commit to a specific deadline regarding its availability at the moment.
Needless to say, as soon as itās up & running - you will be the first to know!
Hahahahaha 
I just want to move out shares to another broker whatever it is. I dont use UK invest account but normal Investment account and with the amount of money I put on this T212. They should do that for free. Also we all have jobs that leads us to change country for a living or continents, they need to make this feature a priority. Simple as that.
I wonder if itās worth asking whatās the delays are in the development, do you know? Perhaps itās trickier than they first thought.
Does seem a bit odd to commit to a tentative date and then go quiet on it, but then things happen in life sometimes out of our control.
Itās never a service they have offered when we signed up and we all knew that so I hold my tongue on it, but the fact they have committed to offer it, hopefully itās still in flight. Itās the one thing why I donāt have my ISA here.
I also do think there should be a nominal fee to cover the cost of any manual work involved dealing with external parties. This would be for transfers out only. 212 would hopefully make revenue from new customers transferring in, and charge a fair cost of say Ā£10? a stock for those transferring out. This so others that remain on the platform do not indirectly pick up any fees for that work that could be best used developing features everyone is asking for.
You just need to google some of the nightmares people have experienced transferring between other brokers to see how much of a ball ache it can be.
As @Zrtz said, there needs to be more push from the regulator to get everyone on board. Hopefully in some sort of extension to āopen bankingā so itās consistent, cheaper, quicker and more standard across the industry.
I would pay, no problem with that but it cant be an enormous fee. It has to be reasonable.
Telling us to sell and buy elsewhere is pointless. We are losing our entries with high return and then re-purchasing higher and get less shares.
Or they could move my stock to my bank. I am sure my bank would be happy to deal with it since the money I put on T212 will be on my bank investment account. So whatever T212 decides, if they want to have a great goodwill with everyone, it should be stated they aer doing it and give a status on it.
We dont need to argue, we just need an answer and a time.
Everything is 1 and 0s. Eventually a database will be updated with the new owner (broker).
Cash owners need validation too.
I donāt think any paper will be movedā¦ Iām not sure if paper certificates are even distributed today.
Sadly I can confirm this is still a thing and a right pain in the hoop!
Similarly can be said with certain markets (India/China/Latam).
This feature really would be useful. Due to my new job, I am not allowed to hold shares in any other broker than a selected broker for my region.
So Iām in need of transferring the shares out of trading 212. But I donāt want to have to sell and buy to do this
Well, the feature doesnāt exist at the time being, and is unlikely to arrive anytime soon.
If you are urgently in need to transfer, you will have to sell and buy back.
But besides minor fees, and price discrepancy from the delay to withdraw and deposit the money anew, it really wonāt impact your portfolio much.
Keep in mind that most brokers that do offer in specie transfers also donāt do it for free, nor cheap, so I donāt even think youād be better off.
Edit: forgot that capital gain taxes are a thing, if youāre invested in a taxable account. Maybe it is possible to justify to your government that it is only a transfer of brokerage, and not be subject to taxes?
How would that go:
Dear government, I would like to pay less taxes please.
I imagine theyād be perfectly capable of tracking your cost basis even after it gets reset with the new broker, but all odds point towards them charging you for the first realized gains anyway.
Oh well, bad luck for @FreakStorm then š¤·
I would also be more concerned about being restricted to a certain broker per region. I mean itās not exactly encouraging competition or best execution. Who is to say their company doesnāt get paid kickbacks from said brokers?
