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Direct Register Shares from Elana Trading

Updated: Oct 19, 2023

Elana Trading uses SaxoBank as it's broker for global markets, so they charge an extortionate $1000(US) to DRS transfer.


As it's the highest fee to DRS transfer, this guide focusses on transferring to a broker that can DRS transfer for less. Elana Trading offers broker to broker transfers for just 12BGN + %1 of the market value of the assets being transferred. Although they may use Saxo Bank's fees for non-Bulgarian stocks, in which case it is €25 per transfer (recently Saxo increased this in Belgium to a €75 fee).


A popular route to transfer shares from Elana Trading to Computershare has been through Interactive Brokers (IBKR).

The quickest way is to open an IBKR account, buy a share, and request a DRS transfer (link to guide here). While you wait for your Computershare account to be created, you can transfer your shares from Elana Trading to IBKR with a Basic FOP Transfer (12BGN +1%, or €25 fee), then from IBKR to Computershare via DRS transfer for a $5(US) fee.

How to Transfer:

Once your shares and BGN are settled in Elana Trading, you need to initiate the Basic FOP transfer at IBKR and then send an email with a signed transfer form generated by IBKR to Elana Trading.


Login to your IBKR account, and click on “Transfer & Pay” from the top menu and select “Transfer Positions”:

  • On the next page select “Incoming”.

  • On the next page select “All Other Regions” from the drop down menu.

  • On the next page select “Basic FOP Transfer".

  • Select "ELANA TRADING AD" on the drop down list.

  • For “Your Account Number at the Financial Institution", put your Elana Trading account number".

  • For “Name of Account Holder at Financial Institution", put your full name as defined on your Elana Trading account.

  • Select the Account type (most likely individual).

  • Select the country of the Financial Institution (where you access Elana Trading from, most likely Bulgaria).

  • For the contact email put: trading@elana.net

  • You have to add the asset you want to transfer, click on “Add Asset".

  • On the next page search which stock you'd like to transfer (GME), click on “Search".

  • On the next page, click on the row “GAMESTOP CORP-CLASS A / NYSE".

  • On the next page, define how many shares you'd like to transfer and click on “Save and Finish".

  • On the next page you'll see a summary of the transfer. Write in your name as it shows on the page and click on “Continue”.

  • Interactive Brokers will then generate a Letter of Instruction for you. Click on “View Form”, then click on “Print”.

  • Print, sign, and scan the form back in, or take a picture of it.


Now you can send an email to Elana Trading. They have a few different email addresses, but trading@elana.net and bgtrader@elana.net look the most appropriate.

  • For the subject write: FOP Transfer out request (Elana Trading account number).

  • For the message write: “I would like an outbound DRS transfer as detailed in the attached Letter of Instruction".

  • Attach the Letter of Instruction.

  • Click on "Send".

The transfer will be processed within 1-2 weeks. You will receive an email confirming that the transfer was successfully performed.


After your shares reach IBKR:

Now you are able to request the DRS transfer from IBKR to Computershare. To do this you can follow our guide on how to DRS transfer from IBKR (link to guide here).

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