What is the transition from DriveWealth to Apex Clearing?
We are very excited to share that GalaxyOne is transitioning from DriveWealth to Apex Clearing to support our continued investment in the GalaxyOne Brokerage experience. The transition is necessary to allow us to build and introduce new products and features to our brokerage account offering.
Key dates: Brokerage and retirement account signups are paused November 4 to December 6. Trading is halted Friday December 4, for the entire market day. The migration occurs Saturday December 5. New account openings begin Monday December 7.
What this means for you
If you have a brokerage or retirement account: We expect the transition to be seamless, with no material impact to your account. You will receive a Negative Consent Letter with more information, including the option to opt out.
If you do not object, no action is required.
If you object, you must transfer all funds out of your brokerage account.
If you want to open an account: Signups are paused from November 4 to December 6. New account openings begin December 7.
Commonly asked questions
1. Can I open a new brokerage or retirement account right now?
Signups are paused from November 4 to December 6. New account openings begin December 7.
2. Why is GalaxyOne transitioning to Apex Clearing?
The transition supports our continued investment in the GalaxyOne Brokerage experience and allows us to build and introduce new products and features.
3. Can I trade during the transition?
Trading will be halted on Friday December 4, for the entire market day in order for the migration to occur Saturday December 5. Trading will resume Monday December 7.
4. Can I log in to my account during the migration on December 5?
Yes. You will be able to log in and view your positions on the day of the migration.
5. Will my account number change?
Yes. Account numbers will change.
6. Will I still have access to my statements and tax forms?
Yes. Historical statements and tax forms will remain available.
7. Are retirement accounts affected?
Yes. Both brokerage and retirement accounts are affected by the transition.
8. If I signed up with a promotion code, does this affect my eligibility?
No, the migration does not impact any promotion eligibility.
What you can do with GalaxyOne during the transition
GalaxyOne Cash, GalaxyOne Crypto, GalaxyOne Staking, the Crypto Portfolio Line of Credit, Galaxy Premium Yield, and GalaxyOne Business are not affected by the transition.