Anyone use TD Ameritrade?

[redglue23]

Accredited Investor email notification in entirety. Received AI conversion notification 21 Oct 7AM+. Applied 02 Oct via >S$1mm Net financial assets criteria.

Spoiler: AI Conversion - 21 Oct

Dear XXX,

For your account ending XXX

Great news! We wish to inform you that your account is now converted to Accredited Investor status and as a valued client, we thank you once again for your support and allowing us to continue serving your investing needs.

Here is what to expect in the next couple of days:

? There will be a trading restriction placed on your existing XXX account to ensure the transfer process goes smoothly. If you need to manage your positions, please give us a call at +65 6823 2250 during US market hours for us to assist you.

? Your new TD Ameritrade Inc account is currently in the midst of opening and may take up to 3-5 business days to complete. Once the account is opened, your assets will be transferred from your existing account held with TD Ameritrade Singapore to your new account with TD Ameritrade Inc.

? You might see the assets in your existing XXX account are moved and the account is empty. Please do not worry as the linking of your new account to your existing username will happen in a couple of days and once everything is completed, you will be able to view the new account with your assets.

? If you would like to keep a record of your historical statements, you can retrieve and download them by logging in to our Singapore website and navigate to Account Centre > Statement & Confirmation Centre on the left menu.

? In the interim, here are some points to take note of to ensure a smooth and seamless transfer:
? Ensure to cancel any open working orders
? Refrain from trading on your account ? unsettled trades will delay the transfer
Note: Trades typically settle T+2
? Dividend Reinvestment Plans (DRIPs), if any, will not port over to the new account. You will need to set them up again and we will provide more details on this when the transfer is completed.

We will let you know if there are any issues regarding the account opening and/or transfer, along with clear steps to address them.

Once the transfer is completed, you will be kept informed via email, together with more information on using your TD Ameritrade account.

We want to make this as easy as possible for you. Please send us an email or give us a call at +65 6823 2250 and we would be happy to address any questions you may have.

Sincerely,
TD Ameritrade

Spoiler: AI New US Account Opened - 25 Oct

Dear XXX

We wanted to provide an update for your account conversion as an Accredited Investor. Your new TD Ameritrade Inc account has been opened and is pending to be linked to your existing username.

Here are some points to take note of while the conversion is reaching the final stages of completion:

• There will be no change to the way you log in to thinkorswim® trading platform.
  
  
• At this point, you may have seen the assets were moved and your existing account is “empty”. Please be rest assured your assets are still there – just that the new account is not linked to your existing username yet. You will be informed once the new account is linked up for you to continue your activities.
  
  
• In future, you will be logging in to the US website for your usual needs such as account maintenance, new funding instructions and transfers. You will receive an email notification that there will be a secure message ready for your viewing. Do note at this point you cannot login to the US website yet to access the secure message center. You can only log in to the US website only the day after your new account is linked – we thank you for your patience and understanding.
  
  
• Your existing TD Ameritrade Singapore account beginning XXX, will be closed and unlinked from your account when the whole process is completed. If you would like to keep a record of your historical statements, you can retrieve and download them by logging in to our Singapore website and navigate to Account Centre > Statement & Confirmation Centre on the left menu.

Thank you once again for choosing TD Ameritrade as your preferred broker and giving us the opportunity to serve your investing needs as an Accredited Investor. If you have any questions, we’re here to answer them.

Sincerely,
TD Ameritrade

Spoiler: AI US Account Active - 26 Oct

Dear XXX

The transfer to your TD Ameritrade Inc account is now completed. You may begin using the new account as you normally would.

Here is some information to take note of:

• No change to the way you log in to thinkorswim® trading platform.
  
  
• You will be logging in to the US website for your usual needs such as account maintenance, new funding instructions and transfers. If you unable to log in, please allow an extra day for the backend linkage and try once more the next day.
• SGD deposits through our DBS Bank account are no longer accepted. Funding will be via wire transfer as follows –For new wire instructions, after logging in to the website, navigate to My Account > Deposits > Wire Transfer to retrieve the Incoming International Wire Instructions.
• You will have a new account number beginning 696 XXX, please use this new account number as the reference for all future deposits to your account.
• Previously enabled Dividend Reinvestment Program (DRIPs) will not port over. If you wish to enable them, after logging in to the website, navigate to My Account > Dividend Reinvestment > Enroll/Edit and follow the instructions to set up DRIPs.
• Your existing TD Ameritrade Singapore account beginning XXX, is now closed and can no longer be used.

We thank you once again for choosing TD Ameritrade as your preferred broker and giving us the opportunity to serve your investing needs as an Accredited Investor. If you have any questions, we’re here to answer them.

You may reach us by sending a secure message – log in to the US website as above and go to Client Services > Message Center – or visit our Contact Us page for phone numbers to skip the long waiting time.

If you still wish to speak to our Singapore office, you can call +65 6823 2250.

Sincerely,
TD Ameritrade

 

[iMac]

Just got the news of approval, after almost a month.
Nope. They would auto-move it, don't need to do anything.

This was in the email they sent:
Your new TD Ameritrade Inc account is currently in the midst of opening and may take up to 3-5 business days to complete. Once the account is opened, your assets will be transferred from your existing account held with TD Ameritrade Singapore to your new account with TD Ameritrade Inc.

However they also said:
There will be a trading restriction placed on your existing account to ensure the transfer process goes smoothly. If you need to manage your positions, please give us a call at +65 6823 2250 during US market hours for us to assist you.

Meaning that once you receive their email....Try not to trade for the next 3-5 days ?

 

[minamikaze]

Is there a min net worth that needs to be inside the td ameritrade account before u got approval? Able to give a range of ur portfolio?

Doesn't have to be in TD account, can be financial assets elsewhere. I applied using payslips.

Meaning that once you receive their email....Try not to trade for the next 3-5 days ?

that's what they suggested...

 

[HIW9988]

hi all, i transferred out fully to IBKR, when i transferred out net liquating value was ard usd45k. some shares n options plus cash. shares n option value ard usd 31k. only the open positions transferred into IBKR. the balance usd 14k seems to have disappeared. am i missing something? has anyone experienced something like this? thanks in advance!

 

[borntoruin]

I cannot do full transfer to IBKR cos I have microcaps stock. Now the assets are in ibkr but I'm not able to login to TD. Anyone encountered same issue? Sigh.

@oinkoink1999
What happens to your micro-cap stocks now? Did they get moved to IBKR?
I have micro-cap stocks also.... considering to move to IBKR, but it seems I need to provide some documents.

 

[ralphlauren]

after withdrawing all $ out from TDA, just leave it? or need to go close down the acct

mine is auto closed by TDA after full transfer and withdrawal

Hi guys, I submitted my withdrawal of full balance since 9 Oct, until now still under processing. Is it normal for a first time withdrawal? Sent a few chasers to funding@tea and help@tda liao, their cso ji tao no reply one. Damn bad.

 

[wira]

Hi guys, I submitted my withdrawal of full balance since 9 Oct, until now still under processing. Is it normal for a first time withdrawal? Sent a few chasers to funding@tea and help@tda liao, their cso ji tao no reply one. Damn bad.

if you are withdrawing cash, i think you need submit bank statememnt to them for first time withdrawal

 

[ralphlauren]

if you are withdrawing cash, i think you need submit bank statememnt to them for first time withdrawal

Yes I did that too. Then no sound no pic anymore

 

[oinkoink1999]

@oinkoink1999
What happens to your micro-cap stocks now? Did they get moved to IBKR?
I have micro-cap stocks also.... considering to move to IBKR, but it seems I need to provide some documents.

No. IBKR dun accept so it was not transferred . Prob is now TD lock out my account and I can't access the app n web portal.

 

[sohguanh]

No. IBKR dun accept so it was not transferred . Prob is now TD lock out my account and I can't access the app n web portal.

I saw a lot of readers share about their experience. I wonder what make you and the rest of the readers think IBKR will be safer than td-ameritrade? Based on branding and reputation confirm better? Or another reader use the atas word "holistically" it is better. Hmmm.....

 

[iMac]

No. IBKR dun accept so it was not transferred . Prob is now TD lock out my account and I can't access the app n web portal.

Did you tried calling their sg office?

 

[oinkoink1999]

Did you tried calling their sg office?

Just called but waiting time 30 mins. I hang up cos was in office

 

[TimberOak]

Moomoo supports ACATS transfer already.

I'm currently a TD Ameritrade customer with shares and cash in TDA account. If I use ACATS to do a full transfer from TDA to moomoo, both cash and shares will be transferred right? Just want to be sure before I do the transfer.

Also looking at the current 2 promos for account opening. Still deciding which is more worth it.
a) Welcome rewards.
b) Transfer in.

Transfer in seems very straight forward to get one Apple share but Welcome rewards need to do 13 trades.

Anyone has any opinion?

 

[Proximus]

hi all, i transferred out fully to IBKR, when i transferred out net liquating value was ard usd45k. some shares n options plus cash. shares n option value ard usd 31k. only the open positions transferred into IBKR. the balance usd 14k seems to have disappeared. am i missing something? has anyone experienced something like this? thanks in advance!

Did you manage to get back your 14K? I am transferring to IBKR next week. After hearing this … scarely

 

[HIW9988]

Did you manage to get back your 14K? I am transferring to IBKR next week. After hearing this … scarely

emailed TD on 23 Oct, still no response from them. highly suggest everyone to download all their latest statements n screenshot before initiating transfers. cos once done they delete ur account. cannot even log in at all to retrieve anything.

 

[jinsatkilife]

Has SG AI tried wiring SGD into their new US account?

Looks very complicated since now cannot FAST?

what's the clearing code??

And then how do you withdraw or link it to ur sg bank account?

must send snail mail for that international wire request form? omg

 

[BBCWatcher]

Has SG AI tried wiring SGD into their new US account?
Looks very complicated since now cannot FAST?

I believe you now have a new Charles Schwab account, and it will have an 8 digit account number that looks something like this:

9876-5432

It's very easy to deposit new funds into a Charles Schwab account. To do so you would use the bank details provided here. But I'll provide the basic summary. Using your choice of standard electronic fund transfer systems — FAST works — you can transfer Singapore dollars to Charles Schwab's custodial account at Citibank N.A. Note carefully that's "Citibank NA" (Singapore), not "Citibank Singapore."

Transfer the Singapore dollars to....

Bank: Citibank NA
Account name: Charles Schwab & Co., Inc.
Account number: 0850486018

In the comment/additional text field put your Schwab account number and your name, for example:

98765432 Chang Sarah

If space is too limited for your full name at least make sure your account number and surname appear. If your bank asks for a "reason" for the fund transfer then choose "Investment & Securities" (assuming that's true, which it usually is when you're transferring to a Schwab account).

And that's it! Test this with, say, S$50. What'll happen is that Schwab will automatically convert the Singapore dollars to U.S. dollars and credit your Schwab account. The conversion rate is typically spot rate plus about 0.3%, so it's pretty good. There's no minimum transaction fee. If it's a regular business day the transfer is pretty quick, within a few hours typically. If it's a weekend or public holiday (in either country) then it may take longer. Funds may need time to settle before they're available for trading.

what's the clearing code??
And then how do you withdraw or link it to ur sg bank account?

To withdraw funds from Schwab they'll be U.S. dollar proceeds of securities, so you have these basic choices:

1. Ask Schwab to wire the U.S. dollars to your bank account in Singapore. You should be able to lodge this request online. Schwab may charge a wire transfer fee, and your bank may charge an incoming telegraphic transfer fee. If the destination account is a Singapore dollar account, not a U.S. dollar account, then the funds will be converted to Singapore dollars most likely at an unfavorable rate. Of course you still have the "happy problem" what to do with U.S. dollars landed in Singapore if that's what you do.

2. You might be able to obtain a Schwab Visa debit/ATM card linked to your Schwab brokerage account. It doesn't hurt to try, but no guarantees. (Debit cards are only available to residents of certain countries, including the U.S. I'm not sure if Singapore has been tested yet using these new Schwab AI accounts.) Use this application form if you want to try. This Visa debit card is fantastic if you can get it. It allows you to withdraw cash from any ATM that accepts Visa cards, and if the ATM operator charges a local fee Schwab will rebate that fee back to your account. It also uses the pure Visa network exchange rate with no Schwab markup, and that's a rather good rate. You can also use the card at any merchants that accept Visa, and it should be possible to add the card to your mobile payment system (for example Apple Pay).

3. You can transfer U.S. dollars to any U.S. bank or U.S. credit union account you may have. This could include a Wise account, for example.

4. You can transfer any cash position along with securities using an ACATS account transfer process to another broker. Schwab might charge an "ACATS out" fee for the transfer, although the fee could vary depending on whether you perform a partial or full account transfer.

5. You can probably get a paper U.S. dollar check. You probably don’t want a paper U.S. dollar check.

must send snail mail for that international wire request form? omg

Apparently you didn't read the form carefully enough. As the form indicates you can upload a scanned copy of the completed form to Schwab using online secure messaging after you log into your account. Schwab needs to capture your real signature at least the first time, so that's why they're asking for an electronic or paper copy. You can also fax the form if you're "old school." Postal mail is not a requirement, although that's an option.

 

[Proximus]

Managed to transfer full account to IBKR using ACATS. IT seems the avg price for my stock positons are incorrect. How do I correct this?

 

[George Soros]

Managed to transfer full account to IBKR using ACATS. IT seems the avg price for my stock positons are incorrect. How do I correct this?

It will correct after 1 week

 

[Proximus]

It will correct after 1 week

Thank you. U transferred to IBKR from TD recently?