How to Delete a Moomoo Account
If you are a Moomoo client and want to cancel your account, there are a few simple ways to do it. The
process is fast, but there are some important points to be aware of before you start.
Read on to learn more.
Available Moomoo Account Closure Methods
When you decide to close your account, you have two main options. You can either
set up an account transfer, which will automatically result in an account closure, or you can request
an account closure through Moomoo's support team.
Here are the details of each account closure method and the steps you need to take to successfully close your account.
Manual Moomoo Account Closure
The most common way to cancel a brokerage account is to do it manually. This involves selling all your assets, transferring your money out, and then asking to close your account. It’s straightforward, but there are a few obstacles that could delay your request.
First, ensure your account has no outstanding fees, margin calls, or debts. These must be settled before your account can be closed.
Your account balance must be zero. If there’s even $0.01 left, you’ll need to clear it before closure.
Once ready, you can email support at cs@us.moomoo.com.
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Automatic Moomoo Account Closure
Setting up a full ACAT transfer from another broker is another way to close your account. Once the transfer is complete, Moomoo will automatically close your account.
To prepare for an ACAT transfer, ensure there are no unsettled funds or pending transactions. Everything in your account must be settled before you can initiate the transfer.
If you have international stocks, confirm with the new broker if they can handle these types of securities.
For more details, see
How to Transfer a Moomoo Account to Webull.
Moomoo Transfer Fees
There’s no cost to close your Moomoo account. However, other fees may apply depending on how you close your account.
Manual account closure involves transferring funds out. ACH withdrawals are free, but wires cost $20.
If you choose an automated account transfer, the main cost is a $75 ACATS fee.
Accessing Documents After Closing Moomoo Account
After closing your account, you can still access your documents and personal information for at least six years. U.S. regulations require brokers to keep customer records for this period. Whether you need your trading records or tax information, Moomoo will provide them on request.
Updated on 8/27/2024.
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