How Do I Close My Account with TradeStation?
If you no longer want to make trades on TradeStation, you should learn how to close your TradeStation account. First, you will have to transfer all of your money out of it. To make that transfer, you can use TradeStation ‘s Automated Clearing House transfer tool, which is free, or make a wire transfer, which has a small fee, or by having TradeStation mail a check to you.
If you've been trading with TradeStation and have decided to try doing something different with your money then you need to learn how to close your TradeStation account. This article will show you how to do it.
Account Closure Fees
Most methods of closing a TradeStation account don't have any closure fees. That's true for individual accounts, non-IRA brokerage joint accounts, and all other types of accounts. However, if you transfer your assets to another trading firm using ACAT, you will pay a $125 fee.
Linking an External Account
Before you can close your account, you will need to transfer your funds out of it. If you don't have a bank account or something similar linked to your TradeStation account, you can't make the transfer very quickly. Here are the instructions for linking the accounts:
- Go to the TradeStation home page.
- Click on the Log In button in the upper right-hand corner.
- Log into your TradeStation account.
- Click on the Transfer Funds tab in the green nav bar.
- Click on Add New Account in the External Accounts section.
- Fill out the external account form, including information about your bank account.
Transferring Your Funds
There are three ways to transfer your money out of your TradeStation account. To use any of them, just follow these steps:
- Go to TradeStation's home page.
- Click on the Transfer Funds tab.
- Click on either Smart Transfer button, the Wire Transfer button, or the Check button. They are all located in the Transfer Cash section.
- Fill out the relevant transfer form.
- Submit the transfer form once you have filled it out.
The Smart Transfer option is free. It uses an Automated Clearing House to quickly move your money to your bank. The wire transfer option will cost you $25 to $35, depending on where your bank is located. It's also a very fast option. The check option is free, and it doesn't require you to have a bank account linked to your TradeStation account. However, it will take some time to receive your money that way.
Closing Your TradeStation Account
Once you've emptied your TradeStation account, you can close it. To do that, just call a TradeStation customer service agent and say that you want to close your account. You will need to have your account information on hand when you call. There is no online contact option for reaching TradeStation's customer service department.
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