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moving shares from Goodbody, sell or transfer?

  • 27-04-2020 10:55am
    #1
    Registered Users Posts: 1,815 ✭✭✭ glanman


    Hi,

    I own shares in one company, currently valued about 3k with Goodbody, shares are traded on LSE. I don't trade actively at the moment and it is costing me silly money in fees. Would I be best off transferring the shares to DeGiro (or someone like that) or else sell them on Goodbody and buy them back on DeGiro? They are currently at a loss

    any advice much appreciated.

    PS i have tried to register for DeGiro but am about 9000 on the waiting list


Comments

  • Registered Users Posts: 1,101 ✭✭✭ corglass


    glanman wrote: »
    Hi,

    I own shares in one company, currently valued about 3k with Goodbody, shares are traded on LSE. I don't trade actively at the moment and it is costing me silly money in fees. Would I be best off transferring the shares to DeGiro (or someone like that) or else sell them on Goodbody and buy them back on DeGiro? They are currently at a loss

    any advice much appreciated.

    PS i have tried to register for DeGiro but am about 9000 on the waiting list

    Sell them. Transfer is very messy and slow and you're at risk is price movement while that happens.

    Buy again (if that's the right decision for you) on DeGiro or Trading212 (similar to DeG but no waiting as I understand it)


  • Registered Users Posts: 957 ✭✭✭ heffo500


    I transferred shares from IG to Degiro and actually found the process quite easy. I only had this option as Degiro would not add the security to the platform however when I transferred it I guess they had no option but to set it up.


  • Registered Users Posts: 1,815 ✭✭✭ glanman


    thats interesting. the security is not listed on trading212 but I can't seem to be able to check what is or isn't listed on degiro as not registered

    I'll try with trading212 if they will add it thanks


  • Registered Users Posts: 957 ✭✭✭ heffo500


    glanman wrote: »
    thats interesting. the security is not listed on trading212 but I can't seem to be able to check what is or isn't listed on degiro as not registered

    I'll try with trading212 if they will add it thanks

    I can check if security is already listed on Degiro if you would like?


  • Registered Users Posts: 1,815 ✭✭✭ glanman


    cheers, Aminex code is AEX


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  • Registered Users Posts: 957 ✭✭✭ heffo500


    looks to be there.


  • Registered Users Posts: 1,815 ✭✭✭ glanman


    thanks. I have asked trading212 about adding it and then I will do my sums on what works out better.


  • Registered Users Posts: 5,440 ✭✭✭ daheff


    to hijack a little


    what are peoples thoughts on the better platform? I'm with interactive investor, but they are now closing the irish portal and pushing people to UK site. monthly fees of approx 10 GBP, but slightly lower trading costs....great if you are a regular trader. buy & hold not so good.

    I know if I sell now & buy back I crystalise a loss to carry forward. Transferring i don't think that counts


  • Registered Users Posts: 3,054 ✭✭✭ Static M.e.


    Although there is a queue to get on it, I find Degiro a far better service \ website and much easier to use. I have no complaints.

    I should have added, I do not do futures\options\puts etc. but for a basic buy \ sell of stocks \ efts, I like it.


  • Registered Users Posts: 1,815 ✭✭✭ glanman


    Degiro emailed yesterday

    Our expectations
    From next week on, we expect to give people who are currently on the waiting list the opportunity to open an account on a daily basis. However, it may take a while before everyone on the waiting list can complete the registration. We will send you an e-mail as soon as you can complete your registration.

    A small gesture
    As a thank you for your patience, we are offering you free real-time quotes on US stocks for the rest of the year once your account is up and running. These are normally free of charge for one month after you have made a transaction on an US exchange. The quotes will be activated on a new account corresponding to the e-mail address on which you receive this e-mail and that is activated within one month after you receive our registration e-mail.


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  • Registered Users Posts: 194 ✭✭ outonawing


    heffo500 wrote: »
    I can check if security is already listed on Degiro if you would like?

    Degiro are not accepting stock transfers at present.


  • Registered Users Posts: 957 ✭✭✭ heffo500


    outonawing wrote: »
    Degiro are not accepting stock transfers at present.

    The OP suggested selling the position on Goodbody and buying again on Degiro. I was confirming this was an option for the OP


  • Registered Users Posts: 194 ✭✭ outonawing


    heffo500 wrote: »
    The OP suggested selling the position on Goodbody and buying again on Degiro. I was confirming this was an option for the OP

    The OP was asking if he should transfer or sell and buy again. Transferring is not an option on Degiro at present as I pointed out.


  • Registered Users Posts: 850 ✭✭✭ bcklschaps


    Probably selling and re-buying is the cheaper option too...... Irish Stockbrokers Davy, Goodbody etc. have very high fee's to transfer Shares. (this is an obvious ploy to limit clients just switching to cheaper online brokers)


  • Registered Users Posts: 1,815 ✭✭✭ glanman


    heffo500 wrote: »
    I transferred shares from IG to Degiro and actually found the process quite easy. I only had this option as Degiro would not add the security to the platform however when I transferred it I guess they had no option but to set it up.

    OK so I got my Degiro account set up. Just wondering what steps are involved. I have filled and sent on the Transfer of Investment Portfolio form to Degiro, just follow through the process there?


  • Registered Users Posts: 194 ✭✭ outonawing


    glanman wrote: »
    OK so I got my Degiro account set up. Just wondering what steps are involved. I have filled and sent on the Transfer of Investment Portfolio form to Degiro, just follow through the process there?

    Think you'll be getting an email from DeGiro telling you that they are unable to accept transfers at present.


  • Registered Users Posts: 5,223 ✭✭✭ The J Stands for Jay


    glanman wrote: »
    thanks. I have asked trading212 about adding it and then I will do my sums on what works out better.

    Don't forget to include the €1,270 annual allowance in your calcs. It can be helpful to sell something every year to take advantage.


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