You can close any investment account you have in your Illuminate account once you've removed the funds. You can easily re-open investment accounts if you want to in the future.
To close investment accounts you hold at Illuminate, the process is simple. Before you close an account, please ensure all funds have been withdrawn. Then log in on the app and select the Profile tab, then Settings, and then Close account.
Please note that we are required to retain your sensitive information due to FINRA, SEC and US Patriot Act regulations. Your Illuminate account will be accessible in the future, as some customers need to view tax forms in future years.
Are there fees for closing an account?
Illuminate does not charge trading fees or penalties for closing accounts.
If you simply need access to your funds, note that there are no fees for accounts with a $0 balance. Feel free to withdraw, keeping your investment goals set up and your accounts in place, until you are ready to invest with us again.