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Switching Brokers

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  • 07-10-2017 4:47pm
    #1
    TiGeR KiNgS
    Registered Users Posts: 1,435 ✭✭✭


    Hi,

    I want to switch my equity investments from DeGiro to Irish based broker.
    Is this even possible ?
    Wiill there be tax payable e.g CGT?
    Is there switching fees ?


    Thanks.


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    #2
    gavmcg92
    Registered Users Posts: 5,316 ✭✭✭gavmcg92


    TiGeR KiNgS wrote: »
    Hi,

    I want to switch my equity investments from DeGiro to Irish based broker.
    Is this even possible ?
    Wiill there be tax payable e.g CGT?
    Is there switching fees ?


    Thanks.
    You can transfer your portfolio in specie. As far as I am aware, because you are simply transfering the ownership of the shares and not selling them, you are not liable to CGT. It is a pretty hefty fee to do so though. Degrio charge the following:
    Transfer portfolio from DEGIRO € 10.00 per position + External Costs 
    https://www.degiro.ie/data/pdf/ie/IE_Feeschedule.pdf
    The receiving party will also charge you.
    May I ask why you are looking at transferring out? Irish based brokers are not the best as far as fees are concerned.


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