r/DEGIRO • u/Maximum-Shopping4003 • 13d ago

DEGIRO: HELP ME! 📙 | CLARIFICATION! Transferring Positions from Degiro (Individual account) to IBKR (Joint account, with primary account holder being the same individual)

I am wondering if anyone has experience transferring positions from their Degiro account (as individual - as Degiro doesnt allow any joint ownership) to IBKR account (that is jointly owned by the same individual as primary holder and their spouse as secondary holder).

I contacted and discussed with IBKR and their response is that they can process such a request as an exception process that is generally used by Degiro Account Holder. But when I contacted Degiro - they are not yet clear on this and not sure whether they can proceed. Their policy states that they can only transfer to another account with the SAME account holder.

Anyone has experience with this. Please share. Thanks!

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3

u/TheJewPear 13d ago

I don’t think that’s going to be possible. When you move assets between accounts that don’t have the same owners, you’re actually transferring ownership of those assets. In this example you’d be transferring half of the assets to your spouse. In some (most?) places that makes it a taxable event.

2

u/Maximum-Shopping4003 12d ago

I got a final confirmation from Degiro that this is NOT possible. Recommended solution is transfer from Degiro Individual Account to IBKR Individual Account and from there look to transfer (manual transfer to be requested from IBKT Support) to IBKR Joint Account (with the same individual as one of the Joint Account holders). I'm proceeding with this approach.

1

u/Fun-Faithlessness522 12d ago

Have they told you the cost of transferring the positions?

1

u/us3rnamecheck5out 11d ago

Also curious about the cost

3

u/Maximum-Shopping4003 10d ago

They did mention the costs. Its around 20 Euros + costs specific to the exchange/bank/brokers involved. For Nasdaq, total cost is around 85 Euros per position (i.e. per company that one owns, not the number of stocks owned of that company). This seems good to me since the other option of selling and buying back incurs multiple USD to EUR currency exchanges with higher rates at Degiro and at IBKR that I totally want to avoid.

2

u/FinTechDirect 13d ago

That would lead to a change of beneficial ownership. That's not allowed. The details of your account at IBKR will be send to DEGIRO.

1

u/stockhounder 13d ago

Should be legally bulletproof. Keep pushing them.