Delete Choice Trade Account | End Your Choice Trade Journey

In some cases, you may want to close your Choice Trade account. This can happen because one or more of the following points:

  • You’re not able to trade anymore
  • You find that the Choice Trade broker is not suitable for you after some time trading.
  • You don’t want to be charged with inactivity fees and have no intention to come back.

For these reasons and more, Choice Trade provides an option to delete your account permanently.

Note:

$40 Quarterly Fee is waived if 5 or more trades are performed within the calendar quarter

Steps to Delete Your Account

  1. To delete your account properly you should firstly withdraw your money in the account.

 

Choice Trade only accepts withdrawals using bank wire transfers for global clients. For the US residents, Choice Trade allows them to withdraw using wire or ACH transfers.

The following table shows the withdrawal fees for different methods on some specific conditions.

Choice Trade Withdrawal Fees

Withdrawal Method

Fee

Outgoing Wire Fee

(Domestic)

$35

Outgoing Wire Fee

(Foreign)

$60

Outgoing ACH Fee

(Domestic only – limit 3/month)

$5

Outgoing ACAT Transfer

$75 ($35 if rejected by

receiving broker)

Partial ACAT Transfer

35

Withdrawals take several business days to reach your bank account.

  1. The next step will be to clear any outstanding dues, clear any open positions, and transfer the securities to another Demat account.
  2. Download the account closure form from the company website.
  3. Fill in the name, DP details, the reason for the closure.
  4. Select the option whether you want to close only the trading account, only the Demat account, or both the accounts.
  5. Submit the duly filled and sign form to the broker office.

Note:

Please note that the demo account is deleted automatically after a specific period of time, but you need to close your live account if you want to be not charged with any inactivity fees.

 



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