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Does anyone here have any experience transferring a
traditional IRA -with large on line trading charges- to
an online brokerage firm like Ameritrade or Daytek? Did
you simply request the transfer forms from the old to
the new?
Any help would be appreciated by this about to be Fool....thanks!
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Step 1: Complete the new account opening form (let's say for Datek).

Step 2: Complete the asset transfer form.

Step 3: Your done.

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Greetings, Niteflier, and welcome. You asked:

<<Does anyone here have any experience transferring a traditional IRA -with large on line trading charges- to an online brokerage firm like Ameritrade or Daytek? Did you simply request the transfer forms from the old to the new?>>

Requesting the basic IRA application and a transfer form is the usual route. It's invariably cheaper to transfer the securities intact rather than selling them and transferring cash. Also, your old provider may assess final IRA administration fees as well as a transfer fee. That you'll have to determine from your contract and schedule of fees with that provider.

Regards..Pixy

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niteflier Date: 5/19/99 1:21 PM Number: 10619
Does anyone here have any experience transferring a traditional IRA -with large on line trading charges- to an online brokerage firm like Ameritrade or Daytek? Did you simply request the transfer forms from the old to the new?

That's it. Open the new account and get the transfer form from the new account. You send it back to the new account, who then takes care of it.
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