So I profited 820 dollars on a deep ITM options spread and received this email from Tastytrade
- Thread starter Con1991
- Start date
assignment fees I guess.
Dude, go away. Have you ever paid a broker to close an account? Leave it open. They don't have activity or closing fees (unless it's an IRA). OP's account is not an IRA So don't go there.
https://tastytrade.com/commissions-and-fees/
So sick of brokers.
How long have you been trading...I looked them up (Fidelity/Schwab). They have done away with the "exit fees" (I think the phrase scared people)...They had them for over 30 years. They both have this...
Charles Schwab ACATS fees and estimated time
Charles Schwab outgoing ACATS fee $50.0
Charles Schwab outgoing ACATS time 5 business days
Plus you will need to close your positions or pay a small fee to transfer.
You also have a wire transfer fee (unless you go snail mail).
Just saying the fees add up for a very small account...
Charles Schwab ACATS fees and estimated time
Charles Schwab outgoing ACATS fee $50.0
Charles Schwab outgoing ACATS time 5 business days
Plus you will need to close your positions or pay a small fee to transfer.
You also have a wire transfer fee (unless you go snail mail).
Just saying the fees add up for a very small account...
Every broker has an ACATS transfer fee. What's he going to transfer? A 0DTE diagonal? A wire doesn't close the account unless it = the net liq. He can ACH for free. No fees. Seek help.
I've had a Schwab account since my early 20s and there are no "exit fees" and they have never charged a fee to close an account.
FWIW, we're talking about the OP's TastyTrade account you senile ****. ')
Schwab? Fido? Go back to sleep.
From Reddit...3 years ago. Just a sample...But they are there dude.
$75. from Robinhood. I am not crazy...
Most new brokers will refund the transfer fee...But it has to be a good amount of money to get it done. Also, if the OP tried that, I think it would be a no go from the start...
PSA: If you're transferring assets to Schwab you can apply for refunds on any transfer fees.
If you're leaving a broker for Schwab, and the old broker charges a fee for transferring accounts. You could just sell and re-buy in Schwab but this may incur taxable events. OR just transfer the assets directly.
If you're transferring assets to Schwab and your old broker charges a leaving fee. Schwab will probably refund it depending on the amount of assets.
I just left Robinhood after a terrible week there, and Robinhood charges a $75 fee to transfer assets out. Schwab actually refunded my fee.
How to get a refund:
$75. from Robinhood. I am not crazy...
Most new brokers will refund the transfer fee...But it has to be a good amount of money to get it done. Also, if the OP tried that, I think it would be a no go from the start...
PSA: If you're transferring assets to Schwab you can apply for refunds on any transfer fees.
If you're leaving a broker for Schwab, and the old broker charges a fee for transferring accounts. You could just sell and re-buy in Schwab but this may incur taxable events. OR just transfer the assets directly.
If you're transferring assets to Schwab and your old broker charges a leaving fee. Schwab will probably refund it depending on the amount of assets.
I just left Robinhood after a terrible week there, and Robinhood charges a $75 fee to transfer assets out. Schwab actually refunded my fee.
How to get a refund:
- Create Schwab account (checking/brokerage
1a. (Ask people in your life for their referral code, they won't get anything buy YOU WILL once you're set up)
- You can start the account transfer process online. Of if you want/need your hand held. Contact customer service, I was able to do everything via the little live chat portal. They'll point you in the direction of how to get it going.
- If you're just transferring stocks, etfs or mutual funds, you can basically just start right away.
- If you're transferring options, you need to get your brokerage permission for options. There are 4 levels of options trading at Schwab, I only needed level 1 for my calls. You do this right online. Approval was very quick for me.
- After your assets are transferred, I just talked to customer service again, and they reimbursed next business day.