Cationic propargylations have been known for quite some time but only the advent of transition metal stabilization has initiated their stereoselective applications. The introduction of nucleophilic additions to dicobalthexacarbonyl‐complexed propargyl cations, known as the Nicholas reaction, has led to widespread applications in the synthesis of complex molecules. Besides the stabilization by direct complexation of the triple bond, the complementary mode, i.e. transition metal complex substituents as propargyl cation stabilizing functional groups, is almost unknown. However, upon ionization, ferrocenyl‐ and (arene)chromiumcarbonyl‐substituted propargyl derivatives give the desired cationic species, and these cations can be regarded as quite reactive propargyl cations without simultaneous complexation of the triple bond, thus enabling highly diastereoselective nucleophilic additions with the potential of exploiting the ambident nature of propargyl cations.