How to Close TradeStation Account in 2024
How to Close a TradeStation Account
If you’re ready to close your TradeStation account, there are a few ways to do it. We’ll explain each method so you can choose the best one for you. Here’s how:
Close TradeStation Account With ACAT
The ACAT system is probably the easiest way to close an account at TradeStation, so let’s start with that. To transfer your entire account or just some securities from TradeStation to another brokerage, you’ll need to fill out an ACAT form at your new brokerage. You don’t have to do anything at TradeStation. Once TradeStation gets the transfer request, it will send the requested securities. If you transfer the entire account, your TradeStation account will automatically close.
While this method is very convenient, it can take some time (up to a couple of weeks), and there’s usually a fee. TradeStation charges $125 for the transfer, which is quite high.
Closing TradeStation Account With an ACH or Wire Transfer
If you don’t want to pay the $125 ACAT fee, you can sell your holdings and move the cash out of your TradeStation account using the Automated Clearing House (ACH) network. This service is free, and ACH transfers are usually faster than the ACAT system. At TradeStation, the process takes about 3 business days. However, ACH transfers are limited to $50,000 per day.
If you need to transfer more than this, you’ll need to use a wire transfer instead. The main advantage of using a wire is that it’s the fastest option, but there is a fee. TradeStation charges $25 for domestic wires and $35 for international wires.
Remember, to move cash out of your brokerage account, you’ll first need to sell your securities, which could incur commissions. Depending on how many positions you need to sell, the $125 ACAT fee might seem more reasonable.
To initiate an ACH or wire transfer, log in to the TradeStation website (not the browser platform or desktop software) and click on ‘Transfer Funds’ in the top green menu. Then select ‘Smart Transfer’ for ACH transfers or ‘Wire Transfer’ for wires.
Once you’ve received the funds at your new financial institution and your TradeStation account has a $0 balance, you’ll need to contact TradeStation to request the account closure. While you could leave the account open, we recommend closing it to prevent unauthorized use.
TradeStation Alternatives
How to Contact TradeStation
You can reach a TradeStation representative by phone Monday through Friday, 8 am to 8 pm, EST. Unfortunately, the company is closed on weekends. The phone number is 800.770.4049. There is also an online chat service on TradeStation’s website, available during more limited hours. You’ll need your account number when requesting a closure.
It’s disappointing that TradeStation doesn’t offer internal messaging on its website.
Another option is to send a letter via regular mail to request your account be closed. Here’s the address:
TradeStation
8050 SW 10th Street
Plantation, FL 33324
Alternatives to TradeStation
If you’re leaving TradeStation, here are some alternatives. If you’ve been day-trading,
Webull
offers a great commission schedule with top-notch trading software.
If you’ve been using TradeStation for buy-and-hold investing,
Charles Schwab
could be a good alternative.
Open Charles Schwab Account
Get $0 commissions + satisfaction guarantee at Charles Schwab.
Open Schwab Account
Updated on 8/31/2024.
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