You can close your E*TRADE account by phone, online, or mail — the fastest route is a phone call to their account services team

E*TRADE requires you to close your account through their official channels rather than straightforward stopping use. The process itself takes minutes, but you need to handle your money first: withdraw or transfer any cash balance, close or transfer any open positions (stocks, options, mutual funds), and settle any pending trades. Once your account is empty, you contact E*TRADE to formally close it. They will confirm the closure and send you written confirmation.

The method you choose affects how long the process takes. A phone call to E*TRADE's account services team is the fastest — you can complete closure the same day. Online closure through your account settings works if you have no open positions and no cash balance. Mail takes longer but creates a paper trail if you need documentation later.

Key Takeaways

  • You must close all positions and withdraw all cash before E*TRADE will close your account — an empty account closes faster than one with holdings.
  • Calling E*TRADE's account services team at the number on your statement is the fastest method and takes about 10 minutes.
  • If you have stocks or options still open, you must sell them or transfer them to another brokerage before closure can complete.
  • E*TRADE sends written confirmation of closure, which you should keep for your records in case questions arise later.
  • Any pending trades or unsettled cash may delay closure by a few business days.

Prepare your account before you contact E*TRADE

E*TRADE will not close an account that still holds investments or cash. Log into your account and check your positions page — this shows every stock, option, mutual fund, or bond you own. If you see holdings, you have two choices: sell them outright, or transfer them to another brokerage. Selling is faster if you do not need to keep the investments; transferring takes 5 to 10 business days but moves your holdings intact to your new broker.

Next, check your cash balance. This appears on your account summary or in the "Cash" section of your positions page. If you have cash sitting in the account, you must withdraw it before closure. You can transfer it to your linked bank account through E*TRADE's transfer feature — this usually takes 1 to 3 business days. Do not leave cash behind; E*TRADE will not close an account with a balance.

Wait for any pending trades to settle. If you just sold a stock or closed a position, it may show as "pending" for one or two business days while the transaction clears. E*TRADE cannot close your account until all trades are settled. Check your activity page to see if any trades are still in progress.

Close your account by phone — the fastest method

Call the phone number listed on your E*TRADE statement or in your account settings under "Contact Us." You will reach account services. Tell them you want to close your account and provide your account number. They will verify your identity by asking for your Social Security number or other identifying information.

The representative will confirm that your account has no open positions and no cash balance. If it does, they will tell you what needs to be cleared before closure can proceed. If everything is clear, they will process the closure on the call. This takes about 10 minutes total. Ask them to email or mail you written confirmation of the closure — this is your proof that the account is officially closed.

Close your account online if you have no holdings or cash

Log into your E*TRADE account and look for account settings or account management. The exact location varies depending on whether you use the web platform or the mobile app. In the web version, this is usually under your name in the top right corner. Look for a link labeled "Account Settings," "Manage Account," or "Close Account."

Click through to the account closure section. E*TRADE will show you a checklist: no open positions, no cash balance, no pending trades. If all boxes are checked, you can proceed. If any are unchecked, you will see which items need to be cleared first. Once everything is cleared, follow the prompts to confirm closure. E*TRADE will send you an email confirmation.

Online closure works well if you have a straightforward account with no complications, but it may not be available for all account types. If you cannot find the closure option online, use the phone method instead.

Close your account by mail if you need a paper record

Write a letter to E*TRADE requesting account closure. Include your full name, account number, and the date. State clearly that you want to close the account. Sign and date the letter. Mail it to the address listed on your E*TRADE statement under "Contact Us" or "Mailing Address."

E*TRADE will receive your letter and process the closure. This method takes longer — typically 2 to 4 weeks — because mail delivery and internal processing both add time. However, you have a dated, signed record that you requested closure, which can be useful if questions arise later. Keep a copy of your letter and note the date you mailed it.

What happens after you close your account

Once E*TRADE confirms closure, you will no longer be able to log in. Any pending transfers of cash or securities will complete, but the account itself is closed. You will receive written confirmation by email or mail, depending on how you closed the account. Keep this confirmation for your records.

If you had a margin account (a loan-based account where you could borrow to invest), E*TRADE will convert it to a cash account before closure. Any margin balance must be paid off first. If you had options trading enabled, that permission will be removed as part of the closure process.

If you later realize you need access to old statements or tax documents, you can request them from E*TRADE even after closure. They keep records for several years. Contact their customer service with your former account number to request documents.

Common reasons closure gets delayed

The most common delay is unsettled cash or pending trades. If you sold a stock yesterday, it may not settle for two business days. E*TRADE cannot close the account until settlement is complete. Check your activity page before you call to close — if you see "pending" or "unsettled," wait for those to clear first.

A second common issue is forgetting to transfer or sell options positions. Options require explicit action to close; they do not straightforward expire when you close the account. If you have any open options contracts, you must close them (sell to close, or let them expire if they are out of the money) before account closure can proceed.

A third issue is linked bank accounts. If you have a linked external bank account and a pending transfer, E*TRADE may hold the account closure until the transfer completes. Cancel any pending transfers before you request closure, or wait for them to finish.

Frequently Asked Questions

Do I lose my tax documents if I close my E*TRADE account?

No. E*TRADE keeps tax documents like 1099 forms and trade confirmations for several years after account closure. You can request them by contacting E*TRADE customer service with your former account number. read or print any documents you need before closure if you want them when ready.

Can I reopen an E*TRADE account after I close it?

Yes, you can open a new account with E*TRADE at any time. However, you will go through the full account setup process again, including identity verification and funding. Your old account number will not be reactivated — you will receive a new account number.

What if I have a pending wire transfer when I want to close?

Wait for the wire transfer to complete before requesting closure. If the wire is outgoing (money leaving your E*TRADE account), it must settle first. If it is incoming, the same applies. Once the transfer is complete and your account balance is zero, you can close.

Will closing my E*TRADE account affect my credit score?

No. Closing a brokerage account does not affect your credit score because brokerage accounts are not credit accounts. Your credit score is based on credit cards, loans, and payment history — not investment accounts.

How long does it take to close an E*TRADE account?

By phone, closure is when ready — the account closes the same day. By mail, it takes 2 to 4 weeks. Online closure is when ready if available. Any pending trades or transfers may add 1 to 3 business days to the timeline.