Dough Shutting Down, Close or Transfer Your Accounts
Dough was launched in the summer of 2019. The trading app was supposed to take of the big players such as Robinhood and WeBull. But instead, it is now shutting down after two years in business.
Dough will be ceasing operations as a broker-dealer. All open accounts on Monday, October 11, will be set to closing-only going forward, which means you’ll only be able to close positions.
You have several option you can take before dough’s last day of business on Friday, October 29. Start planning your next steps to close your Dough account by either withdrawing any funds in the account and/or a transfer (“ACAT”) of any existing securities positions that remain in your account.
Here are you three options:
- Outgoing ACATS Transfer to another brokerage firm or transfer to tastyworks. Account Transfers from dough to tastyworks are free if initiated before Friday, October 29. It will also grandfather the dough commission schedule to dough customers.
- Close your positions and withdraw via ACH
- Take no action. Apex will assume the role as your broker on Monday, November 1, 2021, if you don’t transfer or fully withdraw your account.
You can check out more details here.