a big thank you...
We started dough to help empower a generation of investors to believe that taking hold of your financial future is attainable to anyone. We’re grateful that you’ve come along for the ride, and let dough play a role in your financial journey.
What are my next steps?
All accounts not transferred to another brokerage firm or not fully withdrawn via ACH will transfer to our clearing firm, Apex Clearing Corporation ("Apex"), and they will serve as your broker effective November 1, 2021. You may still perform account transfers via ACATS and withdraw any cash balance from Apex. Please refer to the FAQ below for more information.
You can still access the dough app to review and retrieve trade confirmations, monthly statements, and tax documents issued on and before October 29, 2021.
To view your transaction history or any account-related documents issued after October 29, including 2021 tax documents generated in early 2022 (if applicable), must be retrieved by registering with Apex via Apex Online.
Instructions to create Apex Online credentials
New User Registration Steps:
- Visit the Apex Corp site: https://www.apexclearing.com/
- Select the login icon on the top right corner of the site (person-looking icon).
- Select Create a User ID.
- Enter your dough account number in the Account Number field (i.e. 3PC##### or 3PD#####).
- Follow the on-screen instructions.
- When asked to select a Firm, please select 10-Apex Clearing Corp.
- After completing the process, you will now have access to Apex Online. Enter your dough account number in the account number field to view your account details.
For questions regarding your (former) dough account, please reach out to Apex's Broker Dealer Withdrawal (BDW) department at firstname.lastname@example.org.
FAQ about your dough account at Apex
How do I transfer my account from Apex to another brokerage?
To transfer your dough account with an open position(s) and cash to a different brokerage firm (including tastyworks), you will need to initiate an Outgoing ACATS Transfer with your receiving firm. Simply, an ACATS transfer seamlessly allows you to move all cash and securities in your current account to a new account at a different brokerage firm. If you have open positions in your dough account and don't wish to close them, then an ACATS transfer would be the best way to move everything to a new account. First, you'll need to open a like-account at the brokerage firm of your choice that you'd like to move to, and once the account is open, just tell them that you want to do an ACATS–they'll know what you're talking about. When you successfully submit an ACATS with your receiving firm, they will process it for you, kicking off the transfer process. It's important to note that ACATS Transfers can take 7-10 business days to complete.
You can still transfer your account after dough closes since it will still be in the custody of Apex Clearing Corporation, where they will act as your broker, and it will retain the same account number. You will need to list Apex Clearing Corporation as your broker instead of dough when asked the name of your brokerage firm when transferring via ACAT.
All ACATS Transfers requests initiate from the receiving firm and are subject to a $75 Outgoing ACATS Transfer Fee, charged by Apex Clearing Corporation. As a result, your account must have $75 or more in available cash to facilitate the transfer.
However, if your account only holds cash, you can withdraw your account balance via ACH instead. Please reach out to Apex's BDW department at email@example.com for instructions.
How do I make a withdrawal from Apex?
Accounts holding cash and in the custody of Apex can request a withdrawal by writing to Apex's BDW department at firstname.lastname@example.org.
Can I close positions if my account is at Apex?
Yes, you may only submit closing orders with Apex. Since Apex does not have a trading platform, you will need to reach out to Apex's BDW department at email@example.com to manage any position(s).
Can I still use the dough app to trade?
After dough closes on October 29, 2021, the dough platform will no longer serve as a trading application since Apex will assume your account act as your broker. You can still access the dough app to review and retrieve trade confirmations, monthly statements, and tax documents issued before October 29, 2021.
However, if you transferred your account to tastyworks, you can still use the dough trading platform by downloading the new dough by tastyworks app to your mobile device.
dough by tastyworks download links
Will I receive any tax documents for the 2021 tax year?
If you closed any positions or had any options expire worthless in the 2021 calendar year, you will receive a Consolidated 1099 for the 2021 tax year. Tax forms will be issued in early 2022 (if applicable). You must register with Apex to retrieve your tax documents. Instructions to create an Apex Online account are spelled at the top of this page.
Who can I contact if I need help?
After dough closes on October 29, 2021, we (dough) will no longer serve as your introducing broker. When your account gets assumed by Apex, our clearing firm, you must reach out to Apex's BDW department at firstname.lastname@example.org or at 214-953-3300.
Who is Apex Clearing Corporation?
Apex Clearing Corporation is dough's clearing firm and custodian of your account assets. In this industry, dough is referred to as an introducing broker. As a result, dough does not hold any of your assets. Instead, dough facilitated your trades while your assets are in custody at Apex.