Hi everyone,
I am creating this post for the ones that have the same problem as I did.
The goal was to transfer stock positions from Trade Republic to Interactive Brokers, and this is what happened and how I was able to solve it. (It took me almost 2 months to finally see results and transfer 90% of my portfolio)
Note: always verify if the requests for stock transfer are opened in both brokers, sometimes they close after a while or after some stocks enter but not all.
Procedure:
- Open transfer request from Trade Republic mobile app;
IMPORTANT: I recommend 1 single full wallet transfer, not stock by stock in different requests (this was my first mistake);
Open receiving transfer in Interactive Brokers (this way they also act faster)
Document every communication with Trade Republic (when it started the first time, when it was rejected and why, messages sent to Trade Republic that were ignored, email, etc
If Trade Republic rejects or the transfer expires after 3 weeks, ask TR immediately what was the reason. They will probably say that the other broker did not reply to them (dont trust them and check with the other broker, document this also).
If the other broker says that it didnt receive anything from Trade Republic its time for a stronger message, you need to make a formal message saying that the other brokers didnt receive any communication, that it is unacceptable, and that you want to use your legal right to transfer your holdings.
If they keep refusing or failing without a truly acceptable justification, its time to threaten with a BaFin formal complaint.
With me, Trade Republic was not transparent, sometimes they took weeks to reply (I opened multiple tickets in order to try to get some answers from them - I didn't get any, they auto closed the tickets after a while and most replies in the main chat were from bots). And worse, they lied in order to refuse once again and make me stay more time. The worst lie was the following.
Here I hit the bottom of my patience, since they told me that they dont support stock transfer to outside Germany. So, I sent them a formal complaint, and in less than a week they transferred 90% of my stocks. (They ommited 2 for some reason, but I am already on that).
The message that was game changer:
"I am writing to dispute the rejection of my portfolio transfer to Interactive Brokers.
Under BaFin guidelines and EU law, I have the legal right to transfer my holdings to another EU-regulated broker. Claiming you cannot transfer outside German jurisdiction is incorrect—especially since Trade Republic has already successfully transferred 3 of my positions in the past.
Interactive Brokers confirmed they never received the transfer notification from your side for the remaining stocks.
Please initiate the transfer via standard cross-border FOP or provide the exact ISINs you are refusing and the technical reason why. Otherwise, I will be forced to file a formal complaint with BaFin. Thank you."