SELF-DIRECTED IRA KNOWLEDGE CENTER

INVESTMENT OPTIONS

PUBLIC INVESTMENTS

Moving from TD Ameritrade to TradeStation

Find answers to common questions regarding the transition process from TD Ameritrade to TradeStation

Revisit this article often for the most up-to-date information, as we know more we will update the content in real-time.

🆕Last updated: 9/27/2023

Jump directly to different sections with the quick links below:

As you may know, Schwab and TD Ameritrade merged in October 2020. Schwab's goal was to integrate TD Ameritrade's technology into the Schwab Advisor Center and continue business as usual during the integration process.. As part of their new business initiatives, Schwab has decided to no longer offer brokerage accounts held through third-party custodians. This is impacting all STRATA account holders with TD Ameritrade accounts. The full integration from TD Ameritrade to Schwab has been completed as of September 9, 2023

Not to worry – leveraging your idle cash within your STRATA IRA has never been easier. STRATA account holders are still able to enjoy a commission-free fee schedule for brokerage trading and now can expect faster funding/processing times than previously experienced with TD Ameritrade.

TradeStation specializes in assisting self-directed clients looking to leverage IRA cash and has more than 30+ years of experience. You can expect an award-winning trading platform, award-winning service, extensive investor-focused education, and additional investing resources. A comparison of the benefits of TradeStation's platform vs TD Ameritrade can be seen below:

TradeStation v TDAmeritrade (4)

Transitioning Your Online Brokerage Account

STRATA Trust Company, TradeStation, TD Ameritrade, and Charles Schwab continue to have dedicated teams to monitor and focus on the electronic account transfers, account opening process, and daily order of operations. Below is a general timeline overview and some common questions about the transition process to TradeStation.

Transition Overview Timeline:

1/13/2023 - STRATA will stop sending new deposits to TD Ameritrade.

1/16/2023 - Options trading within the TD Ameritrade account will no longer be allowed and existing options positions will only allow for liquidation transactions.

1/18/2023 - TradeStation Application sent to existing TD Ameritrade account holders directly from STRATA Operations via DocuSign.

2/17/2023 - TD Ameritrade will no longer allow purchase trades within client accounts. Only liquidation and account closure requests will be processed.

9/1/2023 - Account holders that have not transferred or disbursed their TD Ameritrade account as of August 21, 2023, will be automatically transferred to a Schwab IRA over Labor Day weekend (Sept 1-4) and will be subject to their fees (Schwab Pricing Guide). Additionally, any account that is moved to a Schwab IRA will continue to be restricted from investment purchases and contributions.

TradeStation Onboarding

Q: What actions will I need to take to complete the transfer of my TD Ameritrade account to TradeStation?

A: Complete the TradeStation Application, the exact timing of your transfer will depend upon your completion of the necessary forms. Learn more about the transfer process and access the TradeStation application here.

Please keep in mind that if these forms are not submitted by August 1, your TD Ameritrade account will auto-transfer to a Schwab IRA

🆕Q: Does TradeStation have an ACAT form for assets held within my Schwab account?

A: Yes, once your account is open at TradeStation, please completeTradeStation’s Equities Account: Customer Account Transfer form.

Transfer Timeline

GetToKnowTradeStation_01_18_2023_Page_5

Transfer Status and Reporting

Q: How can I track the transfer status of my TD Ameritrade account?

A: Once your electronic application and account transfer form has been submitted, TradeStation will contact you via email to provide your account number and instructions on how to access your account online. At this point, you will be able to log in and track the status of your transfer. Within the TradeStation portal, you will be able to view and trade the positions held at TradeStation.

Upon completion of your electronic account transfer, the TD Ameritrade position within the STRATA IRA will be updated to reflect a zero value and a new TradeStation asset will appear in your STRATA account. Going forward, the TradeStation asset will be reported just as the TD Ameritrade position has been reported in the past.

Q: How will I access my new TradeStation account once the transfer is complete?

A: Once your account has been established with TradeStation, you will receive login credentials within 48 hours from TradeStation. We strongly encourage you to set up your online account profile as soon as you receive your credentials so you can obtain the latest information on the completion of this transaction.

Q: What if it has been over 48 hours since my TradeStation account has been established, and I still have not received an email from TradeStation providing my login credentials?

A: Once your account has been established with TradeStation, you will receive login credentials via email within 48 hours from TradeStation. We encourage you to check your spam folder for the email if you are not seeing it in your inbox. If you are still unable to locate the email, please give TradeStation a call at 800.822.0512.

Q: What is the frequency of reporting for my TradeStation account value?

A: Your STRATA IRA account will be updated monthly. TradeStation's Client Center offers real-time balances. Log in to TradeStation's Client Center then select Web Trading to view.

Account Elections

Q: Will my current third-party trading authorization elections automatically be transferred to my TradeStation account?

A: Yes, if the TD Ameritrade account has a third-party authorization on file, STRATA will work with those account holders directly to set the same authorizations up within the new TradeStation account. A STRATA representative will reach out to you directly if additional action is needed.

You may add a third-party trading agent to your account by completing and submitting their Third Party Trading Authorization Form to TradeStation.

Q: Will advisers have their own access to client accounts?

A: Yes, clients can assign Third Party Traders or advisers to their accounts. They would get their own access/ID. STRATA is tracking which accounts have a third-party relationship at TDA. We will proactively work with these accountholders after the TradeStation account is established to ensure this new account is set up exactly the same way the TDA account was.

Q: How can I invest in U.S. Treasuries or other fixed-income opportunities through my TradeStation account?

A: You may call TradeStation at 800.822.0512 to place an order for any U.S. Treasury or other fixed-income investment option. Be sure to have the CUSIP, terms, and amount of your investment readily available before calling to place your order. Feel Free to visit TreasuryDirect.gov for available options.

Fees

Q: What are TradeStation fees?

A: For STRATA IRA account holders, the TradeStation annual $35 administration fee is waived for 2023. Beginning in 2024, the administration fee will apply. Click here to view TradeStation's fee schedule.

$0 commission for Stocks & ETFs
Free Platforms (Web, Mobile, and/or Desktop)
Free Real-Time Market Data
$14.95 Mutual Funds Trade per transaction

Q: Are there any fees if I transfer my TD Ameritrade position to another custodian?

A: If you choose to transfer out the TD Ameritrade position to an existing brokerage IRA, transfer-out requests from your successor custodian must be received by January 31, 2023, in order to avoid the partial transfer-out fee of $100.

Q: Are there any fees if I transfer my entire IRA account to another custodian?

A: If you choose to close your STRATA IRA, transfer-out requests from your successor custodian must be received by August 21, 2023, to avoid an account closing fee.

Transferring Assets

Q: Will assets be transferred in their native form? (e.g., Will options be transferred across, or will they be liquidated at TDA, and transferred as cash to TS?)

A: Yes, options will be transferred in their native form. The only exception to this is if the option is expiring within 10 days of the transfer date. For those positions, we will be monitoring those individually between TradeStation and TD Ameritrade since they will require additional attention.

Q: Will the application process allow me to choose (or withhold certain securities) from being transferred?

A: No. If there are positions that are not being transferred out, connect directly with Client Services so we can work with TD Ameritrade to find the best possible solution.

Q: What if I have active trades with TD Ameritrade?

A: If you have active trades with TD Ameritrade, those trades must settle before your account can be electronically transferred to TradeStation. Once the trades have settled the transfer process will begin.

Q: Is there a lock-out period?

A: Yes, you cannot log into your TDA account once they receive the TradeStation transfer request. Once your assets are confirmed with TradeStation, you can begin trading (5-8 business days). Make sure to download any account statements in your TradeStation account prior to submitting your application.

Additional Online Brokerage Options

Q: Is TradeStation my only option for an online brokerage service?

A: No, you may choose any brokerage firm that will allow a third-party custodian to hold title to the account. Not all brokerage firms permit this, so please check with your broker prior to instructing STRATA to establish an account to trade securities. Learn more here.

Q: What are my options if I elect not to transfer my TD Ameritrade account to TradeStation or if I hold a non-transferrable position?

A: If you do not move forward with a TradeStation account, the following options are available to you:

Liquidate TD Ameritrade assets and pull cash back to your STRATA account.
Transfer the TD Ameritrade account to another Brokerage IRA of your choosing (Please submit the completed transfer request form by 8/1/23 and STRATA will waive the partial transfer out fee.)
Take distribution of the TD Ameritrade account by completing our Distribution Request Form. (Please submit the completed distribution request form by 8/1/23 and STRATA will waive the In-Kind asset distribution fee.)