TD Ameritrade Stop Serving Singapore Retail Investors in Dec 2023…Do This Now!
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TD Ameritrade will be stop serving Singapore retail customers. And if you have stocks with TD Ameritrade YOU will be affected.
What Should Singapore TD Ameritrade’s Clients Do Now?
TD Ameritrade’s clients are given 2 options:
- Register as an accredited investor with TD Ameritrade (Which will required you to hold at least $300,000 in assets.)
- Transfer your current asset out of TD Ameritrade. (RECOMMENDED)
All non-Accredited Investor accounts will be charged a monthly account maintenance fee of USD $50.
Charges will be based on cash balances held at the close of business U.S. time on the 27th day or last preceding business day of the month. Accounts with cash balances less than USD$50 will only be charged an amount to reduce their cash balance to $0 (zero).
Unless you want to lock in $300,000 in TD Ameritrade, it is best to transfer out all your asset.
But all is not lost, in fact here is a better option that offers low cost, no inactivity fee, no annual fee solution that will not only let you transfer all your stocks from TD Ameritrade for free.
Transferring TD Ameritrade Assets to MAS Registered Low Cost Brokerage
Amount the list of brokerage you can transfer your assets, Moomoo is by far IMO the best MAS Registered Low Cost Brokerage you should use.
Yes! Moomoo is ACATS supported to let you easily transfer your stocks from TDA to your Moomoo SG account.
What is ACATS? Automated Customer Account Transfer Service (ACATS) is a system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another.
Getting a new Moomoo SG account is easy and it takes less than 5 minutes.
- Click this LINK to Signup for a New Moomoo Account (Exclusive promotion included)
- Open your Moomoo account using SingPass.
- Request for a transfer of assets from TD Ameritrade to your Moomoo account.
For new users of Moomoo users (User who didn’t have a Moomoo account before), if you transfer at least SGD $5,000 worth of assets between now till 31 Dec 2023 from TDA to Moomoo and keep your Moomoo account funded for more than 90 days, you’ll get qualified for a range of rewards!
- Free TESLA fraction share worth S$270*.
- Transfer fee subsidy capped at S$200*.
(There is no transfer fee for Moomoo, this subsidy is for TD Ameritrade transfer fees!)
Remember, you just need to do these 2 things to get the reward:
- Transfer SGD$5,000 worth of asset from TDA to Moomoo SG
- Maintain the account for 90 day.
How to Transfer Assets From TD Ameritrade to Your Moomoo account
Transferring your assets from TD Ameritrade to your Moomoo account is pretty simple and it only take less than 5 minutes. If you have not yet signup for a Moomoo account, signup using this LINK and follow the steps below.
Step 1. Submit a receiving/inbound transfer instruction to Moomoo Financial Singapore Pte. Ltd.
Step 2. Provide your broker details, e.g. TD Ameritrade. Than fill in the stock symbol and quantity.
Step 3. Submit a delivering/outbound-transfer instruction to the broker you wish to transfer out from, e.g. TD Ameritrade.
And you are DONE! Simple as that!
TD Ameritrade Clients You Need To Act Now!
TD Ameritrade only offers these few months for you to act, and you need to get started or you will be paying US$50 for nothing.
Get started in transferring your assets to Moomoo now and you can take advantage of their promotion right now!
Minimum investment: $0
Stock/ETF Commission Fees: $0 for US, 0.03% for SG, HK
Options Fees: $0.65 Per Contract
Markets: United States, Hong Kong, China, Singapore
Suitable For: Beginner and Experience investors looking to invest in both locally and internationally.
Disclaimer: All views expressed in the article are independent opinion of the author, based on my own trading and investing experience. Neither Moomoo Singapore or its affiliates shall be liable for the content of the information provided. This advertisement has not been reviewed by the Monetary Authority of Singapore.
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Antony C. is a dividend investor with over 15+ years of investing experience. He’s also the book author of “Start Small, Dream Big“, certified PMP® holder and founder of IncomeBuddies.com (IB). At IB, he share his personal journey and expertise on growing passive income through dividend investing and building online business. Antony has been featured in global news outlet including Yahoo Finance, Nasdaq and Non Fiction Author Association (NFAA).
