Securities account transfer

A securities account transfer (Depotübertrag) is the transfer of your securities (shares, ETFs, funds) from an account at broker A to an account at broker B.

Key facts (Germany):

• Free of charge: in 2004 the Federal Court of Justice ruled that securities account transfers must in principle be free (ref. XI ZR 200/03)
• Duration: typically 1–3 weeks, sometimes up to 6 weeks
• Tax-neutral: no sale = no taxes (acquisition data is transferred too)
• Trading freeze: you CAN'T trade the securities during the transfer

How it works:

1. Open a new securities account
2. Order the transfer (at the new or old broker)
3. Fill in the form (account number, WKN/ISIN of the securities)
4. Wait (1–3 weeks)
5. Check that all acquisition data has been transferred correctly

When is switching worthwhile?

• Fees: from a branch bank account (€30–50/order) to a neo-broker (€0–1/order)
• Savings plan costs: some brokers offer free ETF savings plans
• Service/app: better overview and usability
• Switching bonuses: some brokers offer 0.5–1% on the transferred volume

Caution with foreign brokers: transfers from/to foreign brokers (e.g. Interactive Brokers, DEGIRO) can take longer and cost fees.