Transfer completion time is typically 5 – 7 business days but may take longer due to factors outside TradeStation’s control. Additionally, TradeStation will not be liable for any damages resulting from a delay outside its control. Your current firm may restrict activity in your account during the transfer process including the ability to buy or sell securities.
If the account being transferred is a retirement account subject to IRS Required Minimum distribution (RMD), you will take action to ensure your RMD is satisfied and will not hold TradeStation liable for any insufficient RMD related to this transfer.
If you hold proprietary or other non-transferable assets at the delivering firm, those assets will be handled according to your instruction and policy of your current firm. This may result in the liquidation of such assets and transfer of the cash equivalent amount to TradeStation. Additionally, any liquidated assets may have financial implications to you including but not limited to taxes, fees and financial losses.
The delivering firm may charge a fee(s) related to this transfer and such fees may be deducted from the amount credited to TradeStation, in accordance with your account agreement. Note TradeStation does NOT charge a fee to receive the transfer.
If you are closing the account at your delivering firm, you will return or destroy any debit cards or unused checks in accordance with that firm’s policy.
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