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Stock Broker Promotions. Brokerage Offers And Bonuses
To Open New Investment Account In 2020
Discount online stock broker offers, incentives, bonus codes for clients opening new account or
moving account from a different firm.
October 2020 best brokerage promotions: $3,500 cash bonus, free
trades deals, and investment account transfer fees rebates.
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About Broker Promotions
Below is a list of the current online discount broker promotions being offered by the various brokerage firms. Due to regulations, a number of these deals are
valid only for U.S.-based customers looking to open a new brokerage account.
Please read the details of each brokerage offer carefully; some of these offers are not valid for retirement accounts (IRAs).
The most popular types of online broker promotions for 2020 are the following:
- Free Trades: As an incentive to sign up, brokerage companies are offering new clients free trades. The
number of free trades range from 3 to 500, and typically must be used within a specific timeframe (i.e. 30, 60,
or 90 days).
- Cash Bonuses: Another type of incentive is free cash in exchange for signing up with the brokerage firm.
Some firms provide cash bonuses, but do require the account to be funded with specific amounts. These investment
firm bonuses can range from $25 to $3,500, with Ally Invest offering the highest brokerage bonus. Be sure to
read the fine print as these bonuses may be available for existing customers.
- Account Transfer Rebates: Brokerage firms will often reimburse customers for the fees imposed by the
client’s old broker for transferring the account. When transferring an account, the client will often incur an
account transfer fee (i.e. ACAT fee). These fees may be reimbursed by the new broker; Firstrade and Ally Invest
offer Account Transfer Rebates.
Less popular forms of incentives and rewards include gift cards (i.e. Apple), merchandise (i.e. Kindle Fire, computer monitors), free or heavily discounted subscriptions to popular investment magazines, websites, or newsletters.
There are a number of great online broker deals available for the trader or investor looking to open a new
brokerage account. However, it is important to remember that it is the service, fees, and reliability of the
broker that are most important. Be sure to research brokers carefully by reading high quality reviews from
various sources and compare a few different brokers before deciding which one is the best for you.
All Online Broker Promotions
Brokerage Free Trades Promotions Comparison
Right now many online brokerage firms offer incentives for investors to lure new customers on to their site. These can be anything
from free trades to free cash for opening an account or promotions for referring a friend to the site. Below are descriptions of promotions
offered by some of the best known online brokerage firms on the market.
Etrade
Going with a similar theme as the rest of the brokerage promotions on this list, Etrade is offering $600 in
free cash will only come when depositing over $250,000 in to a new account, but a more reasonable $200 bonus can be obtained
with a deposit upward of $25,000.
Analysis: The brokerage free trade bonus has the highest minimum deposit of the bunch at $10,000.
Charles Schwab
A new brokerage account opened with at least $50,000 is eligible to receive 500 free trades and one meeting per quarter
with a trading coach. The trades expire within 1 year of account opening.
Merrill Edge
New Merrill Edge customers who open and fund either a brokerage or retirement account will receive 300 commission-free trades. It can
take up to a week for the broker to credit the new account, and the free trades expire after 3 months. Also included in this special
is a trial of MarketPro, the firm's desktop platform. Funding a new securities account with at least $20,000 earns a $100 bonus. The
deposit must be made in less than 45 days of opening the account, and the balance must be maintained for at least 90 days. Merrill Edge
will credit the new account within 14 days after the 90-day period has ended.
Final Analysis
All of the listed brokerage incentives follow the same formula: commission free trades and/or a cash bonus as a result of a substantial opening
deposit. Etrade brokerage account promotion works best for those with at least $25,000 to invest, where they will receive their 60
days of free trades incentive plus the only real attainable cash bonus for anyone but the super wealthy.
Disclaimer
The investment account promotions could change without notice. Each investment account offer has fine print therefore investors
should thoroughly read and understand it before opening an account. Also, remember that these investment promotions expire on
different dates, so investors need to be aware of that fact as well.
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