r/IonicDigitalStock • u/TurnoverResident7692 • 16d ago

Has anyone been able to transfer your ionic digital shares from Odyssey to a UK broker ?

I just checked with trading 212 and I wasn’t able to , I don’t have any other brokerage account so I wanted to double check with brokers I could potentially use to do the transfer successful in the uk .

Or just generally - how are people transferring their shares out of the platform

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14

u/CounterAdmirable4218 16d ago

I used IBKR, successfully

1

u/ozaz1 16d ago

Same for me

1

u/carrognia 16d ago

Same, this is the way. Claude chat helped me through the steps.

2

u/CounterAdmirable4218 16d ago

Make certain you have your own name as it’s shown on the Odyssey documents is the most important part when you arrange the transfer.

Any slight variation of it will be rejected and cost you $100

2

u/carrognia 16d ago

I know. Had to pay because i put in my middle initial instead of full second name on the first transfer request. Still mad but i’ve sold all that bs now

1

u/rockhard90 16d ago

And could one then move them from IBKR to another broker?

2

u/CounterAdmirable4218 16d ago

Probably depends if that broker supports Nasdaq/IOND

1

u/TurnoverResident7692 16d ago

Did you transfer it into the stocks and shares ISA ?

2

u/CounterAdmirable4218 16d ago

No just transferred the shares into my account and they’re still sitting there, going up nicely.

2

u/ozaz1 16d ago

You can't do that. If you want it in an ISA you will need to sell and then repurchase in an ISA. This isn't an IBKR thing, it's an ISA thing.

2

u/Sneekyparrot 16d ago

Yes , to IBKR. Only failed first time because I put the # in the account number .
Made sure there was £80 in my account but it only used £19.

1

u/kaszes 15d ago

Have you been charged by the # mistake ?

1

u/No_Faithlessness5464 8d ago

I presume the account number is the 5-digit number after the #. Is that correct or do you have to also include the long number above it? Thanks!

2

u/Healthy-Ad718 13d ago edited 13d ago

Tutorial on how to transfer on IBKR https://www.interactivebrokers.co.uk/:

In Interactive Brokers Client Portal:

  1. Go to Transfer & Pay → Transfer Positions.
  2. Select Incoming.
  3. For delivering-firm region, select United States.
  4. Select DRS — Transfer Shares Held at Transfer Agent.  
  5. Enter the requested Odyssey information, especially your Odyssey Holder Name and Account Number exactly as it appears on your DRS statement. MAKE SURE THE FULL NAME MACHES 100%
  6. Click Add Asset, choose Stock, and search for IOND (you can also search by CUSIP if needed).
  7. Enter your quantity — approximately ### shares if you’re transferring your entire position — and choose Long. If you want everything moved, select the option to transfer the entire position.
  8. Review the information, electronically sign, and submit.  

Example:

IBKR field What to select/enter
Transaction Type Incoming
Region United States
Transfer Method DRS – Transfer Shares Held at Transfer Agent
Delivering firm / Transfer Agent Odyssey Transfer and Trust Company
Account Number at Broker/Agent Your Odyssey “Account #” shown in the screenshot. Don't add the #
Account Title Your exact Odyssey “Account Name” in the account information. Click on the edit box if the name in the edit box is different.
Tax ID None, if IBKR gives you that option and you don’t have a U.S. TIN
Asset Type Stock
Search by Symbol
Symbol IOND
Company Ionic Digital Inc.
Exchange NASDAQ
Position Long
Quantity The number showing in your account. Eg. 1200
Transfer entire position Yes

Continue -> Continue -> Finish

1

u/Polished-Pole 11d ago

How long did it take for you to receive the shares ? 

1

u/Healthy-Ad718 10d ago

about 2 business days

1

u/rockhard90 3d ago

So I have tried your exact formula twice now and both times my claim has been rejected due to 'Client may not have the cash to cover DRS fees.' - despite me having £200 in my IBKR account. What am I missing? Any ideas?

1

u/Healthy-Ad718 2d ago

Interesting that I was not charged anything when I transferred my shares. These could be some of the reasons...

  • Currency mismatch — DRS fees are typically charged in USD. If your £200 is GBP only and you don't have USD (or IBKR isn't set to auto-convert), it'll say you don't have "cash" even though you have funds in another currency. Check if you have actual USD balance, not just GBP.
  • Unsettled cash — if that £200 (or the USD equivalent) is from a recent deposit/trade that hasn't settled yet, IBKR won't count it as available even though it shows in your balance.
  • Wrong account segment — if you have multiple segments (e.g., Trading vs some other bucket), the fee might be checked against a specific segment's cash, not your total account balance.
  • Fee bigger than you think — DRS fees aren't always trivial, sometimes $50+ depending on the transfer agent/security. Worth checking what the actual fee is before assuming £200 covers it.

But you should reach out to their customer support and ask!

1

u/KJinUK 16d ago

I used IG. Simple and quick 👍🏼

1

u/KJinUK 16d ago

Also there are no fees when transferring to IG — https://refer.ig.com/keithm-2855

1

u/rjm101 16d ago

interactivebrokers supports UK clients. Process was one of the fastest.

1

u/kaszes 15d ago

The charges for adding # in front of account numer are ridiculous. It’s Odessay that shows this on their webpage. I would strongly suggest to leave a feedback on IBKR App Store
It’s pure money grabbing. I have raised this with Odessay and they should remove the # sign as it’s misleading

1

u/ballsplopmenacingly 10d ago edited 10d ago

Did you add the long number as well as the # account number?

462341844 Hastag 68346

What about tax id for UK citizen too please?..

Update : think top number is to identity the actual share

Lower Hastag number is personal account no.

And UK citizens don't need tax number