Hi there 🙂 So I logged into my TradeStation.com brokerage account, for the first time in a maybe 2 months. I very rarely use this account. I was surprised to find find out that my account was closed. Even though I had a few low value/"useless" positions, and some money (not much, maybe about $10-20). Of course, I received no email or phone call before this happened.
I knew that they had an inactivity fee, but what I didn't realize, is that they changed their policy, so that now there is an inactivity fee monthly. So currently, you need to make an average 10 trades every 3 months, or you're charged $10 per month inactivity fee. As a result of this, I had a negative cash balance.
I guess it's really my fault for not paying attention to old, barely used brokerage accounts, but going through my emails I can't find any alert from Tradestation about the change in inactivity fee policy. If I had seen that, I would have immediately closed out the account.
At least they reimbursed the $10 inactivity fees, so turns out I can get a few dollars out first before "officially" closing the stupid account lol. Good riddance to Tradestation.
Hope you have a wonderful Holiday Pat, and prosperous New Year 👍️ 😃
