I am new to investing.
A few months ago, I applied for an Interactive Brokers account because a review site said it had low fees. It was taking a long time for me to transfer the funds to the account because I was looking at the cheapest way to make the transfer and also finding out what methods the broker would support, what I need to do to ensure that the transfer is made safely, etc.
The delay in making the transfer turned out to be beneficial to me in another way. I realized that Interactive Brokers is cheaper only for those who are day-trading or making frequent trades, whereas I plan (or at least I intend to) to buy and hold.
I applied to many brokers, but was declined, as they don't accept clients residing in the U.A.E.
I then found two other brokers that are available to residents of the U.A.E.: Sogotrade and TradeStation. I applied for both, not knowing which one would accept.
Now, I have 3 brokers who have accepted my application, but I've only funded TradeStation. I did not fund the other two.
Should I inform the other brokers that I wish to close the accounts? Or, should I keep them open in case I want to move my funds to them later, avoiding having to go through the approval process again?
(I thought of writing to them, but I imagine they might understandably get ticked off that I wasted their time)