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Taking a time out – optionsXpress Canada holding off on new Canadian accounts

As an update to our earlier story regarding optionsXpress Canada and their suspension on accepting new Canadian discount brokerage accounts, we received the following official statement from Schwab, the owner of optionsXpress Canada:

“We are in the process of evaluating each business for strategic fit as part of the ongoing integration of Schwab and optionsXpress. To facilitate this process, we have placed new account openings in Canada on hold until our evaluation is completed, however, existing accounts will remain open during this review.”

When asked how long this review might take, no specifics were provided, however we were told that the review would be taking place “as efficiently and expediently as possible.”

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