To close your Firstrade account, all of the following must be true before submitting a request:
Cash balance is $0 (or a small residual balance only)
No open positions remain in the account
All assets have been transferred out, liquidated, or removed
Small residual balances: A small positive balance may be written off upon request. A small negative balance must be resolved by contacting customer service before closure can proceed.
Worthless or illiquid positions with no market value may be removed through a Penny-for-Lot request. By submitting the Penny-for-Lot form, available in the Forms Center, the account holder authorizes Firstrade to close the position in exchange for $0.01.
To submit a closure request, email customer service with your account number(s) and, if applicable, a statement authorizing the write-off of any remaining positive balance.