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ISA transfer to IG


Gwb6939

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Guest 21nvest

Hi 

How long does it take to transfer shares from another broker to my account at IG ?

If I sell shares,  how long does it take to receive my funds in my account? 

 

Thanks

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On 18/12/2020 at 22:10, Guest 21nvest said:

Hi 

How long does it take to transfer shares from another broker to my account at IG ?

If I sell shares,  how long does it take to receive my funds in my account? 

 

Thanks

Hey, 

Transfers usually take 4-6 weeks but it depends on how cooperative the broker you're transferring from is. 

 

Please know our settlement period works on a T+2 (+3 for US shares) basis. This means the cash for these shares won't settle on your account the day you sell them but two working days.later. The funds should be available to withdraw by close of business 2 working days late. Please note that if you want to trade with the funds before they settle you can. 

All the best 

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I was planning to transfer shares from my current ISA provider as well. In this case, would the shares get sold first by my provider before being bought back on IG, and therefore would I be out of the market for upto 4-6 weeks? I am planning to transfer a single index ETF holding (UK registered) only.

If that is indeed the case, would there be a way of knowing when the selling happens (like email notifications) and when the buying happens so that I can temporarily hedge that scenario somewhere else? 

 

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