TD Ameritrade 300

How To Cancel Firstrade Account. Firstrade Closing Account and ACAT Transfer Fee.


2022 Firstrade account closure fee. Cost and how to close brokerage investing or IRA accounts online. Firstrade ACAT address, wire transfer, and canceling fees.


Firstrade Account Cancellation Fee


Firstrade charges $0 account closing fees for both non-IRA brokerage joint or individual accounts. To learn how to terminate Firstrade account continue reading below.


Firstrade IRA Account Closing Fee


At Firstrade IRA, or individual retirement accounts, have a $50 charge to close an account.


Promotions


If you are transferring your Firstrade investment account to another firm, make sure to check whether that company offers promotions for opening a new account. Here is the list of current deals - Stock Broker Promotions »


Firstrade Transfer Fee (ACAT Fee)


Firstrade ACAT fee is $75 for a full account transfer and $55 for a partial account transfer (stock positions, mutual funds, and ETFs). This Firstrade transfer fee applies also to all IRA accounts: ROTH, traditional IRA, SEP, and SIMPLE IRA. If you move your account to TD Ameritrade, they will reimburse this ACAT fee.


Firstrade Wire Transfer Fees


Outgoing wire transfers at Firstrade are $30 per domestic transfer and $50 per international wire transfer. Incoming wire transfers are no charge.


Firstrade Top Competitors


Broker Review Promotion
Offer
Stock/ETF
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Maintenance
Fee
Annual IRA
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WeBull 6 FREE stocks valued $34-$12,600 give-away at Webull. $0 na $0 $0
Ally Invest Up to $3,000 cash bonus + $0 commission trades. $0 $9.95 $0 $0
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0


How To Close Firstrade Account


If you have decided to close your Firstrade securities account, the process is fairly straightforward. You need to contact the broker and request that your account be closed. A representative can be reached over the phone Monday through Friday from 8:00 am to 6:00 pm, EST, at 1-800-869-8800.

The broker can also be contacted via an on-line chat system on its website during the same hours. Unfortunately, customer service cannot be reached on the weekend; although the firm does have office hours on Saturday at its Queens, New York location. Firstrade will also accept closure requests via fax, e-mail, or snail mail.

Firstrade's website has a form for transferring an account from another broker. If you want to transfer a Firstrade account to another firm, you will need to contact that broker and start the move with them.

Keep in mind that while closing a Firstrade non-retirement account is free, closing an IRA carries a $50 fee. This charge is about average by industry standards. WellsTrade customers, for example, pay $95; Merrill Edge charges $49.95; and Vanguard traders pay nothing to close an IRA.

Transferring a Firstrade account, whether retirement or non-retirement, to another firm carries some steep fees. A full transfer of an entire account costs $75.

A partial transfer of only certain securities in an account, whether retirement or non-retirement, costs $55. This is above-average in the brokerage world. TD Ameritrade, for example, charges nothing for partial transfers. Ally Invest clients pay $50.


FirstTrade ACH Transfer


Before you transfer or close your Firstrade account, decide what you want to do with the assets in the account. If you're going to close the account, you'll want to liquidate all the securities first. If you plan to transfer the account, you can leave assets in the account. But you want to be sure not to trade while the transfer takes place. Doing so can cause problems with the move.



About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.