Information About ETC Brokerage Services’ Transition to Self-Clearing

Yes. Equity Trust Company will remain the custodian on your account. The relationship with Equity Trust Company will not change.

The asset number for your ETC Brokerage account position within your Equity Trust account will be changing from 076719 to a new Asset Number. This will be visible within the Portfolio Positions page in myEQUITY and on your Equity Trust quarterly statements.

Yes.  You will still be able to access your ETC Brokerage account through myEQUITY via a single sign on like you do today.

By not exercising your right to opt out of the Transfer and continuing to maintain your account, you are agreeing to terms in the above referenced Agreement and the Disclosures and Notices, all of which can found here. To request a free paper copy of these Agreements or disclosures, please contact us at: 877-403-0369 or email [email protected].

Axos will transfer your positions to ETCB, at no cost to you (the “transfer”). The transfer will automatically occur during the weekend of March 2, 2024 (the “conversion date”). You do not need to take any action to participate in the transfer.

You have the right to object from the transfer by taking the following steps:

1. Email [email protected] to inform us of your intent to opt out; and
2. Close or move your account(s) to another custodian of your choice. If closing your account, you will liquidate your positions on or before February 29, 2024 and any cash proceeds will be swept to your Equity Trust account. If transferring to a new custodian, that custodian must provide ETCB with transfer instructions that are in good order, on or before February 29, 2024. These requests can be faxed to 440-365-1447 or mailed to ETCB, Attn: ETC Brokerage, PO Box 451340, Westlake, OH 44145.

If you contact us to object but do not take the necessary steps as outlined above to close or transfer your account, then you will participate in the transfer and your account(s) will securely and automatically transfer to ETCB on the conversion date. If you object to the transfer in accordance with the steps above, then your ETCB transfer fees will be waived.  ETCB will also waive your ACAT fee for 60 days after the conversion date if you are unsatisfied with the services offered and submit your transfer request after the conversion date. Note that other applicable fees, consistent with the new Fee Schedule, may apply.

Please note, after February 29, 2024, we will reject any requests to transfer assets to another firm/custodian or close an account. If this happens, we will instruct you to have your new firm/custodian resubmit the request on or after March 4, 2024. We will also not accept incoming transfers after February 28, 2024. We will resume accepting new transfer requests the week of March 4, 2024.

On Wednesday, February 28, 2024, after market close, we will cancel any order to purchase or sell securities that remain open in your account. Please note that cancelled orders will not automatically be reentered. You will need to reenter the order (see below instructions on placing orders). We encourage you to review all your open orders in advance of the transfer.

Orders can continue to be placed in your account from the current trading portal through market close, 4 pm ET, on Wednesday, February 28, 2024. After that, online trading will be disabled and orders can only be placed by calling ETCB at 877-403-0369 through market close, Friday, March 1, 2024. To give us time to prepare for the transfer, access to your existing account will be restricted over the conversion weekend. Starting on Monday, March 4, 2024, when the market opens, access to your new account will be available and trading through ETCB’s trading portal will resume. Please note that although trading can continue through Friday, March 1, 2024, only ‘Day’ orders will be accepted. Good-til-Canceled (GTC) orders will not be accepted until Monday, March 4, 2024.

See Q21. for information on trading options upon conversion.

Through Wednesday, February 28, 2024, orders will be handled by Axos Clearing for execution and settlement. Beginning Thursday, February 29, 2024, all equity orders will continue to be placed with ETCB as described above in Q8, and will be executed and settled by ETCB. All mutual fund orders will continue to be placed with ETCB as described in Q8, and will be executed and settled by Axos Clearing

Yes, your paperless preferences will move to ETC Brokerage. Please ensure that your account’s contact information and delivery preferences are up to date with ETCB before February 9, 2024.

Axos will continue to send statements on a regular basis, monthly or quarterly, for any position that remains at Axos until the account reflects a $0.00 balance. Please review your Axos account statements for additional information.

If your account is currently approved for options trading and you have traded options in the last twelve months or your account is holding options at the time of the Conversion Date, your entire account will temporarily remain at Axos Clearing and will not transfer to ETCB on the stated Conversion Date. ETCB and Axos Clearing will continue to maintain an active clearing relationship to ensure you will be able to continue to trade in this account while the account is maintained at Axos Clearing by calling ETCB. Moreover, ETCB will provide advance notification prior to your account transferring from Axos Clearing to ETCB. If your account is approved for options trading and you have not traded options in the last twelve months, your account will be a part of the Transfer and options trading will be disabled on your account. If options trading applies to your brokerage account, we will be in touch with additional information.

If any of your securities are impacted by a corporate action (e.g., a tender offer) on or around the conversion date, those securities will likely remain in your Axos account until the corporate action is completed. Upon completion (and with no action on your part), the securities or cash proceeds will move to your ETCB account. Until then, they will not be reflected in your ETCB account. Therefore, you will not be able to trade these securities at ETCB. Please review your Axos account statements for additional information. If you request to transfer your assets/opt out of the transfer, corporate actions could impact the ability to move your asset. In that case, the asset(s) will remain with Axos until the corporate action is complete.

If any of the security positions held in your account are impacted by a corporate action on or around the Conversion Date AND the events relating to the corporate action are still pending at the time of conversion, those security positions will remain in your Axos Clearing account until the corporate action is completed. Upon completion of the corporate action, the securities or cash proceeds will move to your ETCB account. This will occur automatically, so no action is required on your part. Note that these positions will not be reflected in your ETCB account, and you will not be able to trade these securities at ETCB until the positions have transferred. If you request to transfer your assets/opt out of the Transfer prior to conversion, corporate actions could impact the ability to move your asset. In that case, the asset(s) will remain with Axos Clearing until the corporate action is complete.

There are several factors associated with a corporate action event such as the type of event (mandatory and voluntary) or the timing of the event that may cause investors to be impacted. Examples of mandatory corporate action events include cash dividend, stock dividend, stock splits, reverse stock splits, and mergers. Examples of voluntary events include tender offers, dividend reinvestments, and exchange or purchase offers. Mandatory corporate action events occur without any action required by you. Voluntary events involve an offer extended to you by the company. Investors must choose to participate in the event. The timing of the corporate action announcement and process date can also cause one or more of your security positions to be temporarily delayed in delivery to ETCB during the conversion event. Corporate action events announced close to the conversion date that have a process date after the announced conversion date will be temporarily held at Axos for processing. 

For additional information about the various corporate actions and how they may affect you as an investor, please visit FINRA’s Investor Insight page at https://www.finra.org/investors/insights/corporate-actions-public-companies-what-you-should-know

If you invest your available cash into Axos’ Clearing Insured Deposits Program, your funds will be redeemed from the Axos program and then transferred and deposited into the ETCB FDIC Insured Deposit Program. We encourage you to review the disclosures concerning this Program here. This does not impact any cash in your Equity Trust account.

The table below outlines the key differences between the two products.

If you currently invest your cash with Equity Trust Company, this will not change. Additionally, unless otherwise directed by you, cash will continue to sweep back to your Equity Trust Company account.

Yes. The last date ETCB will open a new brokerage account is February 9, 2024. After this date, ETCB will not accept any brokerage account applications until after the conversion. Additionally, please note that only our new Brokerage Applications containing the new Account Owner Agreement and appropriate disclosures will be accepted. ETCB will not be able to accept any outdated versions of our applications after the conversion.

Additionally, please note that the last day to add options trading to your existing brokerage account is February 9, 2024. After this date, ETCB will not accept any options applications until after the conversion. Additionally, please note that only our new Options Agreement containing the new appropriate disclosures will be accepted. ETCB will not be able to accept any outdated versions of our forms after the conversion. Options trading will not be available upon conversion. ETCB will provide advance notification to option account holders prior to re-enabling options trading.

No. You will need to refer to your historical Axos account statements or you can email [email protected] and make a specific request for historical information.

Please click here to view ETC Brokerage’s Privacy Notice

You will receive two account statements for the month in which your Axos account(s) are transferred to ETCB:

1. One from Axos Clearing, displaying a zero balance along with any account activity details that took place prior to the transfer, as well as the movement of all securities, funds, and balances to ETCB; and
2. Another from ETCB detailing any account activity that took place after the transfer, as well as the receipt of all securities and funds from your Axos account(s).

You will also receive two account statements if your account is included in the population of accounts that will temporarily remain at Axos.

Customer may receive additional account statements from Axos if there is any residual activity (e.g. interest payments or dividends) that happens after the transfer date.

After the conversion, you will continue to receive your brokerage account statements no less frequently than quarterly.

In addition to accessing your ETCB account through your myEQUITY account like you do today, you also have direct access to your account through a link on the ETCB website.

Your existing username for this direct access will remain the same, but you will be sent a new temporary password upon conversion. More information on this temporary password will be communicated at a later date. Please be on the lookout for future communications or updates to these FAQs.

Additionally, the existing URL for direct access will be changing so it will be important to discontinue using any bookmarked websites for ETCB upon the conversion.

If your account is currently approved for options trading and you have traded options in the last twelve months or your account is holding options at the time of the Conversion Date, your entire account will temporarily remain at Axos Clearing and will not transfer to ETCB on the stated Conversion Date. ETCB and Axos Clearing will maintain an active clearing relationship to ensure you will be able to continue to trade in this account while the account is maintained at Axos Clearing by calling ETCB. Moreover, ETCB will provide advance notification prior to your account transferring from Axos Clearing to ETCB. If your account is approved for options trading and you have not traded options in the last twelve months, your account will be a part of the Transfer and options trading will be disabled on your account. Additionally, you may be required to re-apply for options trading if it still suits your trading strategy.

Options trading will not be available upon conversion. ETCB will provide advance notification to option account holders prior to re-enabling options trading.

Your account will move from your current custodian, Equity Trust Company, to the new custodian, ETC Brokerage (ETCB), an Equity Trust Company affiliate.

If you have an existing ETC Brokerage account, that account number will not change. Your Equity Trust account number starting with “D” and/ or “200” will change. We will be sending you additional information in the future, and you can consult with your financial professional.

No. All relationships with your existing financial representative or advisor will remain the same.

Yes. To view your updated agreements and disclosures, see: Important Documents and Agreements.

At no cost to you, your brokerage positions cleared through Axos will transfer to ETCB and your Equity Trust account will transfer to ETCB (the “transfer”).

You do not need to take any action to participate in the transfer. However, if you do not have an existing ETCB account as of the date of this Notification, please contact your Designated Financial Advisor who has additional information for you.

The transfer will automatically and securely occur during the weekend of March 2, 2024 (the “conversion date”).

You have the right to object to the transfer by taking the following steps:

Please note, a distribution from a retirement account could result in a taxable consequence. Please contact your Designated Financial Advisor and/or your tax professional for more information.

Additionally, if you contact us to object (via email) but do not take the necessary steps to close or transfer your account as outlined above, then you will participate in the Transfer and your account(s) will securely and automatically transfer to ETCB on the Conversion Date. If you object to the Transfer in accordance with the steps above, then your ETCB transfer fees will be waived. ETCB will also waive your ACAT fee for 60 days after the conversion date if you are unsatisfied with the services offered and submit your transfer after the conversion date. Note that other applicable fees, consistent with the new Fee Schedule, may apply.

After February 29, 2024, we will reject any requests to transfer assets to another firm/custodian or close an account. If this happens, we will instruct you to have your new firm/custodian resubmit the request on or after March 4, 2024. Note, we will also not process new incoming transfers after February 28, 2024. We will resume accepting new transfer requests the week of March 4, 2024.

On Wednesday, February 28, 2024, after market close, we will cancel any order to purchase or sell securities that remains open in your account.  Please note that cancelled orders will not automatically be reentered.  If you would like to reenter an order, you will need to contact us or your Designated Financial Advisor to reenter the order (see below instructions on placing orders). We encourage you to review your open orders with your Designated Financial Advisor in advance of the transfer.

To give us time to prepare for the transfer, your Designated Financial Advisor will be able to place orders in your account(s) through market close on Friday, March 1, 2024. After that, access will be restricted. Starting on Monday, March 4, 2024, when the market opens, access will be restored, and your Designated Financial Advisor can log into ETCB’s new trading portal to transact in your account(s). Please note that although trading can continue through Friday, March 1, 2024, only ‘Day’ orders will be accepted. Good-til-Canceled (GTC) orders will not be accepted until Monday, March 4, 2024.

See Q22. for information on trading options upon conversion.

Through Wednesday, February 28, 2024, orders will be handled by Axos Clearing for execution and settlement. Beginning Thursday, February 29, 2024, orders will continue to be placed with ETCB, and will be executed and settled by ETCB.

Please consult with your Designated Financial Advisor for specific information applicable to your account.

You can access your ETC Brokerage account by visiting our website, www.etcbrokerage.com and clicking on the ETC Brokerage Account Login link at the top right of the page. You will be required to use your new username and temporary password. This information will be communicated to you at a later date. Please be on the lookout for future communications or updates to these FAQs.

Note that an email address is required to gain access to your account online. Please provide an email address to us if you have not already.

After you establish new login credentials through the ETC Brokerage portal, you will have access to view certain statements, confirms, and tax documents. Please see Q13 above for information on how to access your account. You may also contact your representative/advisor who can provide additional information.

Additionally, if you are unable to access your ETCB account online, you can access your brokerage documents by directly logging into your Investor Mailbox. The URL for this direct login is https://im.mediantonline.com/invmailbox/ETCB/login. You will need to self-register your account upon your first login. The account number to enter will be your eight (8) digit ETCB account number without any dashes. Should you need any assistance, please contact ETCB directly at 877-819-8918.

Yes, your paperless preferences will move to ETC Brokerage. Please ensure that your account’s contact information and delivery preferences are up to date with your advisor and EAS/ETCB before February 9, 2024.

Axos will continue to send statements on a regular basis, monthly or quarterly, for any position that remains at Axos until the account reflects a $0.00 balance. You will need to review your Axos account statements for additional information.

If your account is currently approved for options trading and you have traded options in the last twelve months or your account is holding options at the time of the Conversion Date, your entire account will temporarily remain at Axos Clearing and will not transfer to ETCB on the stated Conversion Date. ETCB and Axos Clearing will continue to maintain an active clearing relationship to ensure you will be able to continue to trade in this account while the account is maintained at Axos Clearing by calling ETCB. Moreover, ETCB will provide advance notification prior to your account transferring from Axos Clearing to ETCB. If your account is approved for options trading and you have not traded options in the last twelve months, your account will be a part of the Transfer and options trading will be disabled on your account. If options trading applies to your brokerage account, we will be in touch with additional information.

If any of your securities are impacted by a corporate action (e.g., a tender offer) on or around the conversion date, those securities will likely remain in your Axos account until the corporate action is completed. Upon completion (and with no action on your part), the securities or cash proceeds will move to your ETCB account. Until then, they will not be reflected in your ETCB account. Therefore, you will not be able to trade these securities at ETCB. Please review your Axos account statements or consult your Designated Financial Advisor for additional information. If you request to transfer your assets to opt out of the transfer, corporate actions could impact the ability to move your asset. In that case, the asset(s) will remain in your Axos account until the corporate action is complete.

If any of the security positions held in your account are impacted by a corporate action on or around the Conversion Date AND the events relating to the corporate action are still pending at the time of conversion, those security positions will remain in your Axos Clearing account until the corporate action is completed. Upon completion of the corporate action, the securities or cash proceeds will move to your ETCB account. This will occur automatically, so no action is required on your part. Note that these positions will not be reflected in your ETCB account, and you will not be able to trade these securities at ETCB until the positions have transferred. If you request to transfer your assets/opt out of the Transfer prior to conversion, corporate actions could impact the ability to move your asset. In that case, the asset(s) will remain with Axos Clearing until the corporate action is complete.

There are several factors associated with a corporate action event such as the type of event (mandatory and voluntary) or the timing of the event that may cause investors to be impacted. Examples of mandatory corporate action events include cash dividend, stock dividend, stock splits, reverse stock splits, and mergers. Examples of voluntary events include tender offers, dividend reinvestments, and exchange or purchase offers. Mandatory corporate action events occur without any action required by you. Voluntary events involve an offer extended to you by the company. Investors must choose to participate in the event. The timing of the corporate action announcement and process date can also cause one or more of your security positions to be temporarily delayed in delivery to ETCB during the conversion event. Corporate action events announced close to the conversion date that have a process date after the announced conversion date will be temporarily held at Axos for processing. 

For additional information about the various corporate actions and how they may affect you as an investor, please visit FINRA’s Investor Insight page at https://www.finra.org/investors/insights/corporate-actions-public-companies-what-you-should-know

After the transfer, we will deposit your cash in our FDIC Insured Deposit Program. We encourage you to review the disclosures concerning this program in your new Account Owner Agreement and the FDIC Insured Deposit Program materials found here.

If you elected to have your excess cash swept and invested into the Axos Clearing Insured Deposits Program, these funds will be redeemed from the Axos program and then transferred and deposited into the ETC Brokerage Services FDIC Insured Deposit Program.

The table below outlines the key differences between the two products.

Yes. The last date ETCB will open a new brokerage account is February 9, 2024. After this date, ETCB will not accept any brokerage account applications until after the conversion. Additionally, please note that only our new Brokerage Applications containing the new Brokerage Account Agreement and appropriate disclosures will be accepted. ETCB will not be able to accept any outdated versions of our applications after the conversion.

Additionally, please note that the last day to add options trading to your existing brokerage account is February 9, 2024. After this date, ETCB will not accept any options applications until after the conversion. Additionally, please note that only our new Options Agreement containing the new appropriate disclosures will be accepted. ETCB will not be able to accept any outdated versions of our forms after the conversion. Options trading will not be available upon conversion. ETCB will provide advance notification to option account holders prior to re-enabling options trading.

Please click here to view ETC Brokerage’s Privacy Notice.

Depending on your account type, you could receive account statements for the First Quarter, 2024, from Axos Clearing, Equity Trust, and ETCB. These statements will show account activities and the transfer of your assets. Going forward, you will receive your brokerage account statements from ETCB. Similarly, you could receive Internal Revenue Service (“IRS”) tax forms reflecting reportable activity in your account for the 2024 tax year from Equity Trust and/or ETCB. You may be required to account for information from all tax forms when completing your tax returns. Please consult your tax advisor with questions regarding tax reporting.

Some assets in your Equity Trust account will not move to ETCB in the transfer. Equity Trust will continue to custody precious metals, physical real estate, cryptocurrency, and a small subset of investments that cannot transfer at this time (generally due to a bankruptcy, receivership, or litigation). If you are invested in one of these assets, Equity Trust will be providing more information.

If your account is currently approved for options trading and you have traded options in the last twelve months or your account is holding options at the time of the Conversion Date, your entire account will temporarily remain at Axos Clearing and will not transfer to ETCB on the stated Conversion Date. ETCB and Axos Clearing will continue to maintain an active clearing relationship to ensure you will be able to continue to trade in this account while the account is maintained at Axos Clearing by calling ETCB. Moreover, ETCB will provide advance notification prior to your account transferring from Axos Clearing to ETCB. If your account is approved for options trading and you have not traded options in the last twelve months, your account will be a part of the Transfer and options trading will be disabled on your account.

Options trading will not be available upon conversion. ETCB will provide advance notification to option account holders prior to re-enabling options trading.

By not exercising your right to opt out of the Transfer and continuing to maintain your account, you are agreeing to terms in the above referenced Agreement and the Disclosures and Notices, all of which can be found here. To request a free paper copy of these Agreements or disclosures, please contact us at: 877-403-0369 or email [email protected].

Axos will transfer your positions to ETCB, at no cost to you (the “transfer”). The transfer will automatically occur during the weekend of March 2, 2024 (the “conversion date”). You do not need to take any action to participate in the transfer.

1. Email [email protected] to inform us of your intent to opt out; and
2. Close or move your account(s) to another firm of your choice. If closing your account, your distribution/withdrawal paperwork must be in good order and received on or before February 29, 2024. If transferring to a new firm, that firm must provide ETCB with transfer instructions that are in good order, on or before February 29, 2024. These requests can be faxed to 440-365-1447 or mailed to ETCB, Attn: ETC Brokerage, PO Box 451340, Westlake, OH 44145.

If you contact us to object but do not take the necessary steps as outlined above to close or transfer your account, then you will participate in the transfer and your account(s) will automatically transfer to ETCB on the conversion date. If you object to the transfer in accordance with the steps above, then your ETCB transfer fee will be waived. ETCB will also waive your transfer fee for 60 days after the conversion date if you are unsatisfied with the services offered and submit your transfer request after the conversion date. Note that other applicable fees, consistent with the new Fee Schedule, found here, may apply.

Please note, after February 29, 2024, we will reject any requests to transfer assets to another firm or close an account. If this happens, we will instruct you to have your new firm resubmit the request on or after March 4, 2024. We will also not accept incoming transfers after February 28, 2024. We will resume accepting new transfer and account closure requests the week of March 4, 2024.

On Wednesday, February 28, 2024, after market close, we will cancel any order to purchase or sell securities that remain open in your account. Please note that cancelled orders will not automatically be reentered. You will need to reenter the order (see below instructions on placing orders). We encourage you to review all your open orders in advance of the transfer.

Orders can continue to be placed in your account from the current trading portal through market close, 4 pm ET, on Wednesday, February 28, 2024. After that, online trading will be disabled and orders can only be placed by calling ETCB at 877-403-0369 through market close, Friday, March 1, 2024. To give us time to prepare for the transfer, access to your existing account will be restricted over the conversion weekend. Starting on Monday, March 4, 2024, when the market opens, access to your new account will be available and trading through ETCB’s trading portal will resume. Please note that although trading can continue through Friday, March 1, 2024, only ‘Day’ orders will be accepted. Good-til-Canceled (GTC) orders will not be accepted until Monday, March 4, 2024.

See Q18. for information on trading options upon conversion.

Through Wednesday, February 28, 2024, orders will be handled by Axos Clearing for execution and settlement. Beginning Thursday, February 29, 2024, all equity orders will continue to be placed with ETCB as described above in Q6, and will be executed and settled by ETCB. All Mutual Fund orders will continue to be placed with ETCB as described in Q6 and will be executed and settled by Axos Clearing.

If you do not have an online account today but would like to create one, please contact ETCB directly at 877-403-0369 for more information.

Yes, your paperless preferences will move to ETC Brokerage. Please ensure that your account’s contact information and delivery preferences are up to date with ETCB before February 9, 2024.

Axos will continue to send statements on a regular basis, monthly or quarterly, for any position that remains at Axos until the account reflects a $0.00 balance. Please review your Axos account statements for additional information.

If your account is currently approved for options trading and you have traded options in the last twelve months or your account is holding options at the time of the Conversion Date, your entire account will temporarily remain at Axos Clearing and will not transfer to ETCB on the stated Conversion Date. ETCB and Axos Clearing will continue to maintain an active clearing relationship to ensure you will be able to continue to trade in this account while the account is maintained at Axos Clearing by calling ETCB. Moreover, ETCB will provide advance notification prior to your account transferring from Axos Clearing to ETCB. If your account is approved for options trading and you have not traded options in the last twelve months, your account will be a part of the Transfer and options trading will be disabled on your account.

If any of your securities are impacted by a corporate action (e.g., a tender offer) on or around the conversion date, those securities will likely remain in your Axos account until the corporate action is completed. Upon completion (and with no action on your part), the securities or cash proceeds will move to your ETCB account. Until then, they will not be reflected in your ETCB account. Therefore, you will not be able to trade these securities at ETCB. Please review your Axos account statements for additional information. If you request to transfer your assets/opt out of the transfer, corporate actions could impact the ability to move your asset. In that case, the asset(s) will remain with Axos until the corporate action is complete.

If any of the security positions held in your account are impacted by a corporate action on or around the Conversion Date AND the events relating to the corporate action are still pending at the time of conversion, those security positions will remain in your Axos Clearing account until the corporate action is completed. Upon completion of the corporate action, the securities or cash proceeds will move to your ETCB account. This will occur automatically, so no action is required on your part. Note that these positions will not be reflected in your ETCB account, and you will not be able to trade these securities at ETCB until the positions have transferred. If you request to transfer your assets/opt out of the Transfer prior to conversion, corporate actions could impact the ability to move your asset. In that case, the asset(s) will remain with Axos Clearing until the corporate action is complete.

There are several factors associated with a corporate action event such as the type of event (mandatory and voluntary) or the timing of the event that may cause investors to be impacted. Examples of mandatory corporate action events include cash dividend, stock dividend, stock splits, reverse stock splits, and mergers. Examples of voluntary events include tender offers, dividend reinvestments, and exchange or purchase offers. Mandatory corporate action events occur without any action required by you. Voluntary events involve an offer extended to you by the company. Investors must choose to participate in the event. The timing of the corporate action announcement and process date can also cause one or more of your security positions to be temporarily delayed in delivery to ETCB during the conversion event. Corporate action events announced close to the conversion date that have a process date after the announced conversion date will be temporarily held at Axos for processing. 

For additional information about the various corporate actions and how they may affect you as an investor, please visit FINRA’s Investor Insight page at https://www.finra.org/investors/insights/corporate-actions-public-companies-what-you-should-know

After the Transfer, we will deposit your cash in our FDIC Insured Deposit Program. We encourage you to review the disclosures concerning this program in your new Account Owner Agreement and the FDIC Insured Deposit Program materials found here.

If you elected to have your excess cash swept and invested into the Axos Clearing Insured Deposits Program, these funds will be redeemed from the Axos program and then transferred and deposited into the ETC Brokerage Services FDIC Insured Deposit Program.

The table below outlines the key differences between the two products.

Yes. The last date ETCB will open a new brokerage account is February 9, 2024. After this date, ETCB will not accept any brokerage account applications until after the conversion. Additionally, please note that only our new Brokerage Applications containing the new Account Owner Agreement and appropriate disclosures will be accepted. ETCB will not be able to accept any outdated versions of our applications after the conversion.

Additionally, please note that the last day to add options trading to your existing brokerage account is February 9, 2024. After this date, ETCB will not accept any options applications until after the conversion. Additionally, please note that only our new Options Agreement containing the new appropriate disclosures will be accepted. ETCB will not be able to accept any outdated versions of our forms after the conversion. Options trading will not be available upon conversion. ETCB will provide advance notification to option account holders prior to re-enabling options trading.

No. You will need to refer to your historical Axos account statements or you can email [email protected] and make a specific request for historical information.

Please click here to view ETC Brokerage’s Privacy Notice.

You will receive two account statements for the month in which your Axos account(s) are transferred to ETCB:

1. One from Axos Clearing, displaying a zero balance along with any account activity details that took place prior to the transfer, as well as the movement of all securities, funds, and balances to ETCB; and
2. Another from ETCB detailing any account activity that took place after the transfer, as well as the receipt of all securities and funds from your Axos account(s).

You will also receive two account statements if your account is included in the population of accounts that will temporarily remain at Axos. 

Customer may receive additional account statements from Axos if there is any residual activity (e.g. interest payments or dividends) that happens after the transfer date.

After the conversion, you will continue to receive your brokerage account statements no less frequently than quarterly.

If your account is currently approved for options trading and you have traded options in the last twelve months or your account is holding options at the time of the Conversion Date, your entire account will temporarily remain at Axos Clearing and will not transfer to ETCB on the stated Conversion Date. ETCB and Axos Clearing will maintain an active clearing relationship to ensure you will be able to continue to trade in this account while the account is maintained at Axos Clearing by calling ETCB. Moreover, ETCB will provide advance notification prior to your account transferring from Axos Clearing to ETCB. If your account is approved for options trading and you have not traded options in the last twelve months, your account will be a part of the Transfer and options trading will be disabled on your account. Additionally, you may be required to re-apply for options trading if it still suits your trading strategy.

Options trading will not be available upon conversion. ETCB will provide advance notification to option account holders prior to re-enabling options trading.