There are several reasons why you would need to close an online investing app account.
Maybe you’ve had more experience and want to move up to a more advanced platform.
Or you found a new app with more of the features that will make investing easier for you.
Whatever the case, it’s a good practice to move your portfolio into another investing venue rather than putting it in a traditional bank where it will earn significantly lower interest.
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It is exceedingly easy to close your account, but unfortunately, you can’t do it yourself on the app. Instead, you have to contact customer service. It also asks for a reason why you’re closing the account. You may wish to just give a generic answer, like wanting to try something new.
If you would like to close your account, just follow the steps:
You can start over with a new account once your account is closed.
One identification number can only have one account with Moomoo.
After closing your account, you still have access to login with your login credentials, so that you can access your tax documents come tax season.
According to the regulatory requirement, all account information must be maintained for 6 years, so Moomoo will not delete your information until that time period has passed.