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Transferring from Saxo to Degiro question

  • 15-02-2016 9:44am
    #1
    Blacktie.
    Registered Users, Registered Users 2 Posts: 2,903 ✭✭✭


    Hi everybody. I've heard Degiro has a lot cheaper fees than Saxo. I've currently been with Saxo about two years now and am a buy and hold investor. I'd be looking for cheap maintenance fees mainly.

    Is it possible to transfer which shares I have (ETFs mianly) to Degiro without liquidising what I currently own and re investing?


Comments

  • #2
    Frogdog
    Registered Users, Registered Users 2 Posts: 983 ✭✭✭Frogdog


    I'm with Degiro, and while I haven't transferred anything in, I'm almost certain that you can transfer current holdings in for a small fee per transaction. I'd be surprised if it wasn't already listed on their website under their fees/charges.


  • #3
    cherrytaz
    Registered Users, Registered Users 2 Posts: 481 ✭✭cherrytaz


    Also in the process of transferring my portfolio from TD Direct to Degiro, I got the following response from Degiro:

    "Firstly you would need to complete all the steps of registration online.

    It is possible for you to transfer your portfolio to DEGIRO, however there are a number of points to consider before commencing:
    • DEGIRO charges a fee of €10 per position to transfer;
    • It is also possible that your current bank or broker may also charge a fee for transferring your portfolio.
    • Some banks and brokers may offer to pay these fees, though they will invariably charge substantially more in commission fees than DEGIRO.
    Depending upon the size and composition of your portfolio, it is often more cost effective to sell your positions with your current bank or broker and then use the services of DEGIRO to repurchase the same positions to recompile your portfolio.

    It is also important to note that a full portfolio transfer can take several weeks to be completed:
    • We first check the eligibility of the products to be transferred from your portfolio to DEGIRO.
    • If it is possible to transfer your portfolio, we will then ask your current provider to commence the transfer procedure.
    • It is possible that we will receive different parts of your portfolio at different times because some providers may work with several custodians and they all have to synchronize their settlement instructions.
    • As soon as your whole portfolio has been received, we will transfer it to your account at DEGIRO."


  • #4
    robp
    Banned (with Prison Access) Posts: 1,934 ✭✭✭robp


    Is the process similar for adding paper cert shares to a Degiro account?


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