I’m trying to figure out how to move my ETF investments from XTB to another financial institution. I’m really confused about the whole process and don’t know where to begin. Do I need to contact my new broker first to start everything, or should I reach out to XTB directly? I’m also wondering who actually handles the transfer process - is it the receiving institution that takes care of all the paperwork and coordination, or does XTB manage it from their end? Has anyone here gone through this kind of transfer before? I want to make sure I don’t mess anything up or cause delays by contacting the wrong party first. Any advice on the proper steps would be really helpful.
Call your new broker first. They’ll know which forms to send and what XTB needs.
First things first - make sure your ETFs can actually transfer. Some European ETFs are stuck at certain brokers because of regulations. XTB hits you with fees per holding, not per share. If you’ve only got a few hundred in each ETF, it might be cheaper to just sell and rebuy at the new broker instead of paying transfer fees. Run the numbers: transfer fees plus currency conversion costs versus selling, moving cash, and rebuying.
Done this twice with XTB. The receiving broker handles everything.
XTB hits you with about 50 EUR per position for outgoing transfers. Gets expensive fast if you’ve got multiple ETFs - learned that the hard way.
Takes 2-4 weeks usually. Your positions get locked so you can’t trade during the transfer. Keep that in mind if markets get crazy.
Watch out though - some ETFs won’t be available at your new broker. Had to sell two positions before my transfer because Interactive Brokers didn’t support them. Check this first to avoid headaches.
Start with your new broker - they’ll handle everything.