You can close an E*TRADE account by calling their customer service line, submitting a written request, or using their online account settings — but you need to settle any open positions and transfers first.
E*TRADE requires you to close or sell all open positions (stocks, options, mutual funds, bonds) before the account itself can be closed. If you have pending transfers or money moving in or out, those must complete first. The actual closure takes a phone call to E*TRADE's main customer service line at 1-800-387-2331, a written request by mail, or in some cases a request through your account settings online. The process typically takes 5 to 10 business days after everything is settled.
The reason for the waiting period is that E*TRADE needs to confirm all positions are liquidated, all transfers are complete, and any remaining cash balance is sent to you. If you have a margin account or any outstanding loans against your positions, those must be paid off before closure. If you're closing because you're moving to another brokerage, that other firm can sometimes initiate a transfer on your behalf, which may speed things up.
Key Takeaways
- All open positions must be sold or closed before E*TRADE will close your account — you cannot leave stocks or options sitting there.
- Any pending transfers of money or securities must complete before the account closure is final.
- You can request closure by phone at 1-800-387-2331, by mail with a written request, or sometimes through your online account dashboard.
- The closure takes 5 to 10 business days after all positions are settled and transfers are complete.
- If you have a margin account or outstanding margin loans, those balances must be paid off first.
Selling or closing all open positions
Before E*TRADE will close your account, every position you own must be gone. This means selling all stocks, closing all options contracts, redeeming all mutual funds, and settling any bonds you hold. You do this through your E*TRADE account dashboard — log in, find each holding, and place a sell order at market price or a limit price of your choice. For options, you can sell to close or let them expire if they are out of the money.
If you have fractional shares (which E*TRADE allows), those must be sold too. Some positions like certain mutual funds or bonds may have specific redemption procedures — check the fund or bond details in your account to see if there are any restrictions or waiting periods. Once an order is placed, it typically settles within one to three business days depending on the security type. Do not close your account until you see a zero balance in all positions.
Handling pending transfers and cash balances
If you initiated a transfer of securities or cash to another brokerage, that transfer must complete before E*TRADE will close your account. Outgoing transfers of securities typically take 5 to 7 business days. Cash transfers can be faster — usually 1 to 3 business days if you set up an ACH transfer to your bank. Check the status of any pending transfers in your account under the Transfers section before you request closure.
Any remaining cash in your account will be sent to you once the account is closed. E*TRADE will mail a check or initiate an ACH transfer to the bank account you have on file. If you want that cash sent to a different bank account, update your banking information in your account settings before requesting closure. This prevents delays in receiving your final balance.
Paying off margin loans or outstanding balances
If you have a margin account and borrowed money from E*TRADE to buy securities, that loan must be paid back before closure. The amount owed appears in your account under Account Summary or Margin Information. You can pay it off by transferring cash into your account from your bank, or by selling positions and using the proceeds to cover the debt.
E*TRADE will not close an account with an outstanding margin balance. If you are unsure whether you owe anything, call customer service at 1-800-387-2331 and ask for your current margin balance. They can tell you the exact amount and confirm whether any other fees or charges are pending.
Submitting your closure request
Once all positions are sold, transfers are complete, and any loans are paid off, you can request closure. The most direct method is to call E*TRADE customer service at 1-800-387-2331. Have your account number ready. Tell them you want to close your account, and they will confirm that everything is settled and walk you through the final steps. This call usually takes 10 to 15 minutes.
Alternatively, you can submit a written request by mail. Address it to E*TRADE's account closure department — you can find the current mailing address on the E*TRADE website under Contact Us. Include your full name, account number, and a clear statement that you want to close the account. Mail it certified or with tracking so you have proof of delivery. Written requests take longer because they have to be processed by mail, so phone is usually faster.
Some E*TRADE account types allow you to request closure through your online account settings. Log in, go to Account Settings or Account Management, and look for a Close Account option. Not all account types offer this, so if you do not see it, use the phone or mail method instead.
What happens after you request closure
After you submit your closure request, E*TRADE will send you a confirmation email or letter. The account will be marked for closure, and the process typically takes 5 to 10 business days. During this time, E*TRADE verifies that all positions are gone, all transfers are complete, and no new activity occurs on the account. You will not be able to trade or move money during this period.
Once the closure is final, you will receive a final statement showing all activity up to the closure date. Any remaining cash will be sent to your bank account via ACH transfer or check, depending on what you set up. After closure, you will no longer have access to your E*TRADE account, and you cannot reopen it under the same account number — you would have to open a new account if you wanted to trade again later.
Closing an account with a financial advisor or managed service
If your E*TRADE account is managed by an E*TRADE financial advisor or is part of an E*TRADE managed portfolio service, the closure process may have extra steps. Your advisor may need to approve the closure or help you liquidate positions. Contact your advisor directly before calling the main customer service line, or mention the managed service when you call so they route you to the right team.
If you have a retirement account (IRA, SEP-IRA, or other tax-advantaged account) with E*TRADE, closing it has tax and distribution implications. You may owe taxes on the withdrawal, or you may want to roll it over to another retirement account instead of closing it outright. Speak with a tax professional or E*TRADE's retirement services team before closing a retirement account.
Frequently Asked Questions
Can I close my E*TRADE account if I still have pending orders?
No. Any pending orders must be cancelled before closure. Log into your account and cancel all open orders before requesting closure. Once all orders are cancelled and all positions are sold, you can proceed.
What if I have a joint account — do both owners have to agree to close it?
Yes. Both account owners typically must consent to closure. Contact E*TRADE to confirm the process for your specific joint account, as requirements may vary depending on how the account was set up.
Will I lose my trading history or statements after I close the account?
You will receive a final statement, but you may not have online access to older statements after closure. read or print any statements you need to keep before you close the account. E*TRADE may retain records for tax or regulatory purposes, but you should not rely on accessing them through your account after it is closed.
How long does it take to receive my cash after the account is closed?
If you set up an ACH transfer to your bank, the cash usually arrives within 1 to 3 business days after closure is complete. If E*TRADE mails a check, allow 5 to 10 business days for delivery depending on your location.
Can I close my account online, or do I have to call?
Some account types allow online closure through your account settings, but not all. If you do not see a Close Account option in your settings, you will need to call 1-800-387-2331 or submit a written request by mail.