Transferring stocks to IG from Robinhood US...

[Jules_B]

Has anyone successfully done this, or have any advice or tips?

From what I understand, Robinhood want new broker to initiate the transfer, but every new UK broker has told me transfer needs to be initiated with Robinhood.

Catch 22!

[ArvinIG]

14 hours ago, Jules_B said:

Has anyone successfully done this, or have any advice or tips?

From what I understand, Robinhood want new broker to initiate the transfer, but every new UK broker has told me transfer needs to be initiated with Robinhood.

Catch 22!

Hi @Jules_B,

You can find details on how to transfer shares into IG. If you have an active IG share dealing or ISA account, you can request to transfer your personal shares or ISAs to IG from another UK-based broker from My IG.

For Europe-based or US-based brokers to IG, you will need to contact your broker you wish to transfer from to initiate the request. They’ll guide you accordingly and contact our transfers team.

More details here.

Robinhood might be processing transfers as per US broker to broker regulations and procedures, but unfortunately we will need them to contact our transfer team.

I hope that this information helps.

All the best - Arvin

[Jules_B]

Thanks, Arvin

But therein lies the problem!

Robinhood insist on new broker initiating the transfer. I'll try and reach out to them again, but so far they have not budged on this.

 

[ArvinIG]

15 hours ago, Jules_B said:

Thanks, Arvin

But therein lies the problem!

Robinhood insist on new broker initiating the transfer. I'll try and reach out to them again, but so far they have not budged on this.

 

Hi @Jules_B,

I understand, you can reach out to helpdesk.uk@ig.com or use the live chat feature on the IG website. I believe that their answer would be similar though. Alternatively you can try transfers@ig.com but this email is to send transfer documents over.

I hope that it helps.

All the best - Arvin

[jamowale]

Hi Jules_B,

I have the exact same issue! Please let me know if you've resolved it?

Visa now expired so back in the UK from the US.

Would really appreciate your help!

Thanks,

James 

 

[Jules_B]

Hey, jamowale

Sounds like we're in exactly the same boat!

I've been going round in circles with multiple brokers trying to figure this out, but keep getting the same answer.

It appears that no-one is that bothered about doing the work, and just sends canned responses.

Can't believe this isn't possible, and doesn't come up more often!

Likely a different story if you go to a private broker with millions in investments, I imagine.

 

Edited February 18, 2022 by Jules_B

[jamowale]

I think the only option is the close my IG account and open an interactive brokers acc (USD) and start the transfer myself. IG not helping at this point.

[AndaIG]

Hi @jamowale @Jules_B

We have confirmed with our transfers team, with non-UK brokers we need them to initiate the transfer. So in this case we are unable to facilitate the transfer unfortunately. 

All the best, 

Anda

[jamowale]

Hi Anda, Thanks for this. I will use interactive brokers as they are able to initiate the transfer

[jamowale]

@Jules_B I initiated the transfer on interactive brokers and it too 5mins to submit. This seems to be a good option. 

[TimJanson]

Unfortunately, I did not have time to sell my shares. I thought until the last that they would not collapse.