Two businessmen shaking hands

Thank you and farewell:

TD Ameritrade Hong Kong to close its doors.

In October 2020, TD Ameritrade and Schwab joined together as part of the same company with a shared mission: to help people realize their financial dreams through investing. As we strive to bring you one unmatched investing experience, we have assessed the international markets where both Schwab and TD Ameritrade operate and have decided that TD Ameritrade Hong Kong will close and no longer open or maintain accounts as of February 28, 2022. We're here to help you understand the next steps you'll need to take on your account.

What this update means for you.

We understand that this decision impacts how you invest. We want to minimize the impact to you, while providing you with ample time to prepare for this change and to provide us with instructions for your account and assets at TD Ameritrade Hong Kong. Please be advised that throughout this process, you will be able to access your account and your assets will continue to be protected in accordance with the relevant regulatory requirements.

You have three options to choose from:

Step 1

Transfer assets to Charles Schwab Hong Kong.

  • You can open an account and transfer your assets and cash held at TD Ameritrade Hong Kong to Charles Schwab Hong Kong, our affiliate that is also licensed with the Securities and Futures Commission in Hong Kong. As a courtesy, Schwab will waive the US$25,000 account minimum for TD Ameritrade clients. If you currently have a Schwab account, you can initiate the transfer by notifying Charles Schwab Hong Kong. 

    An account at Schwab will continue to provide you with access to U.S. equities and ETFs using Schwab's trading platforms. In addition, you may access additional products like bonds and services such as Schwab Private Client™.

    Please note:

  • Charles Schwab Hong Kong does not offer options, futures, or margin trading. If you proceed with Option 1, we will also require your instructions to close out your options or futures positions, and settle any outstanding balance in your margin trading account.
  • The thinkorswim® desktop, thinkorswim mobile, and thinkorswim web platforms are not currently available for Schwab clients, but we are working to make them available in the future.
  • Allow three weeks for processing your asset transfer. TD Ameritrade Hong Kong will waive our transfer fee. However, until the transfer is initiated, any standard fees related to your account will continue to apply.
step 2

Transfer assets to another firm.

You may choose to open an account with another firm. If you select this option, the receiving firm will initiate the transfer of the assets held at TD Ameritrade Hong Kong. Please allow three weeks for processing the transfer.

If you choose to transfer to another firm, TD Ameritrade Hong Kong will waive our transfer fee. However, until the transfer is initiated, any standard fees related to your TD Ameritrade Hong Kong account will continue to apply.

Step 3

Liquidate account and request a full withdrawal.

You can sell all your securities, close your options or futures positions in your TD Ameritrade Hong Kong account, and request a wire transfer for the sale proceeds by logging in to your account and clicking Account Centre > Deposits & Withdrawal Centre > Transfers at tdameritrade.com.hk.

Wire and check requests are processed within one to two business days after they are received in good order. When liquidating assets, you also need to allow for settlement time before the withdrawal can be made.

If you choose to wire funds, TD Ameritrade Hong Kong will waive our wire fee. However, until the wire is initiated, any standard fees related to your TD Ameritrade Hong Kong account will continue to apply.

Webcasts to help you understand the process.

We will host two webcast sessions to help you better understand the process, one in English and one in Cantonese. 

TD Ameritrade webcasts

Important dates:

  • Now through December 31, 2021: You should determine which of the options above is best for you and transfer your assets. There will be no changes to your account; you may trade, deposit, and withdraw funds as usual.
  • On or soon after January 3, 2022: TD Ameritrade Hong Kong will no longer accept new trade orders to establish positions or new deposits. However, you may place liquidating orders to close any outstanding positions.
  • On or soon after February 4, 2022: TD Ameritrade Hong Kong will no longer accept ANY trade orders, including liquidating orders. If we have not heard from you on or before this date or if for any reasons whatsoever the option you have chosen could not be completed on or before this date, we may start liquidating your positions.

FAQs

Why are you closing TD Ameritrade Hong Kong rather than running both operations in parallel?
Are my assets safe?
If I opt to transfer to Schwab, will the experience be the same?
What will I need to open an account with Charles Schwab Hong Kong?
Do I need a minimum of US$25,000 to open an account with Charles Schwab Hong Kong?
Why can't I access thinkorswim® and options, futures, or margin trading with Charles Schwab Hong Kong?
If I am holding futures or options in my account(s) at TD Ameritrade Hong Kong, what should I do if I opt to transfer to Schwab?
How long does it take for account transfer from TD Ameritrade Hong Kong to Charles Schwab Hong Kong? Is it possible to trade normally during the transition period?
If I opt to transfer assets to another firm, how long does it take, and will there be any fees?
If I opt to liquidate my account and request a full withdrawal, how long does it take, and will there be any fees?
What will happen if I don't do anything?
What if I can't close my position due to trading restrictions or no liquidity?
I'm trading on margin. Can the margined positions be transferred to another broker?
Will TD Ameritrade Singapore continue its operations? If TD Ameritrade Singapore continues its operations, can Hong Kong clients transfer their accounts to TD Ameritrade Singapore?

Contact us:

  • We're here to help you through this transition. If you have questions for TD Ameritrade Hong Kong, please:

    Call us at +852 2374 7888. We're available Monday through Friday, from 9 a.m. to 6 p.m. HKT (excluding market holidays), with overnight support from 8 p.m. to 6 a.m. HKT.

    Email us at help@tdameritrade.com.hk.

  • If you have questions for Charles Schwab Hong Kong, please:

    Call us at +852 2101 0511. We're available Monday through Friday, from 9 a.m. to 6 p.m. HKT.