Exiting FirstTrade

Getting out of FirstTrade was almost as bad as getting in. It took several weeks and multiple faxed forms to get the account ready and activate money transfers between my bank and my new trading account. I should have expected to have to go through hell to get my money back out. And if I had, I wouldn’t have been disappointed.

It turns out that they require that the money stay in the account for sixty days before they will return it to you. It’s in the policy that you signed when you got your account. They waived it to thirty days for me because I faxed in proof that my money transfer had cleared the bank. So now I’ve got seven more days to go before the account closes and I get my money back. Good riddance.

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