Anyone had experience transferring money out of TradeStation? I want to transfer all my cash from TradeStation to IB, all my requests were declined due to "insufficient fund". Assume I have $3K in my future account. I have tried the following 3 options, all failed. 1. Select "All available cash". 2. $3000 as indicated by their chat support. I told him it would fail, he insisted. 3. 2975 (deducted $25 fee). What amount should I fill in? Their chat support were offline all day, email support refused to answer my question because it's too sensitive. My two MES contracts were liquidated, commission was $52, it seems TS charged $50 for liquidation.
I would assume you could transfer the balance, minus the transfer fee. if you are set-up with ACH, you could transfer money to your bank, then on to IB and save the transfer fee. ACH is free. P.S. If you don't mind, why are you leaving TS?
I tried that (option 3), it failed. I didn't know how good IB is until I tried other brokers, everything is easier and cheaper. You can see how frustrating it can be for a simple task like wire transfer.
You'll probably have to wait something like 3 business days for all transactions to clear before they will release your account. Like, if you have a margin call fee withdrawal? Give it three days for all the "paperwork" to clear. So don't do anything in your account for 3 business days, and you should be good to go.
I like the TS platform. IB is a much better broker, but stingy on futures margins. You can use multiple platforms and data providers with IB.
Came back across this thread and saw this line for the first time. Um, there is something very wrong with either IB, or how much money you have in your account, or both? Or many things? $50 in commish on two MES contracts? Wow! If you mean they charged you $50 for the liquidation, and your position was down $2 ($1 per contract) and they liquidated you, then there is a serious problem going beyond the pale here with how much money you have in your account. *throws up hands*
The $50 charge was for liquidation, my account balance wasn't enough to hold all contracts overnight, I thought TS would liquidate without extra cost like IB, I was wrong. The commission of MES is $0.5 per side, IB is $0.47, but they are different if I'm not mistaken, IB's $0.47 includes everything, but with TS, other cost isn't included.
So how much money did you have in the account, that they liquidated you on a position that was down 2 bux?
I don't think it's because my positions were losing. If intra-day margin for one MES contract is $500, overnight margin is $1000. For $2000 account balance, I can buy 4 contracts during the cash-session, but I can only hold 2 contracts overnight. So, at the end of cash session, if I don't do anything, 2 contracts will be liquidated.