Interactive Brokers Promotion
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IBKR Referral Promotion Details
If you are looking for a new broker, it might be a good time to consider Interactive Brokers (IBKR) as one of your options. The popular broker is currently offering an attractive welcome offer to investors opening new accounts. To make the promotion even better, they are also offering current customers a way to make money from referrals.
Keep reading to see how you can take advantage of the IBKR $1,000 cash bonus and referral program.
The Interactive Brokers referral bonus is essentially two different offers in one. The broker has created a bonus for both the referrer and the referee.
Interactive Brokers Referrer Bonus
The referrer bonus is for investors that have an active brokerage account with Interactive Brokers.
When you bring new customers to Interactive Brokers, you will receive a $200 payout for each referral. After the referee satisfies the program requirements, the bonus is automatically deposited into your account.
As the referrer, you must have an investment account balance of at least $2000. In addition, the account should be active and have record of at least one trade.
Interactive Brokers Referee Bonus
The referee bonus is for the people you invite to the brokerage. New customers have one year to make a qualifying deposit.
For this part of the referral bonus, Interactive Brokers will give up to $1,000 of its own stock (IBKR). To receive the IBKR stock, the referee must make deposits into their new account. The higher the deposit amount, the higher the deposit.
The bonus stock is given at a rate of 1%. For every $100 deposited, you will get $1 worth of stock.
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Get up to $30,600 in free stocks at WeBull
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$700 cash bonus + free trading at Chase
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Up to $4,000 bonus link in Firstrade
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Up to $200 in free stock at Robinhood
Opening an Interactive Brokers Account
In order for the referrer and the referee to receive the bonus cash, the referee must open a qualifying brokerage account using this link (Insert Link).
You will be asked to decide on an account type and fill out an application. Following that, you are given the chance to fund the account and begin exploring all that IBKR has to offer.
Free Trial for Your Referrals
One nice thing that IBKR offers is a free trial to give new customers a chance to see what the platform is all about. It helps your referees decide if IBKR is the right choice.
Investors interested in learning more about the platforms, securities, Market data, and fees can get involved without putting any money on the line.
Interactive Brokers Bonus
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Why Choose IBKR
If the free trial is not something that your referrals want to do, here are some things that can help them decide if opening an Interactive Brokers account is the right choice for them.
Low Commissions and Fees
IBKR is a low-cost broker that promises to keep its prices low. Traders enjoy zero-commission trades on IBKR LITE, and very competitive professional rates when trading on IBKR PRO. Depending on trading volume, the cost of options, futures, and Forex can also be lower than most other brokers.
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Great Selection of Securities and Investment Vehicles
A wide range of stocks and ETFs, including global securities, and IPOs is another strong reason to join. You can also trade Pink Sheets and other OTCBB stocks at Interactive Brokers. Futures, mutual funds, bonds, and Forex are also available for trading.
Professional Trading Platforms
Add to that the professional-grade trading platforms, with advanced order entry, market data, and technical trading tools, and you can see why so many investors choose Interactive Brokers as their broker.
For trading on the go, IBKR also offers mobile trading. It is possible to chart on the app, look up pertinent information for investment ideas, and manage trades. For global stocks or investments in environmentally friendly companies can be facilitated via two dedicated apps: IBKR GlobalTrader and IMPACT.
IBKR Referral Program Terms and Conditions
To receive the $200 bonus, the referee must maintain a balance of at least $10,000 for a full year.
$1,000 in shares must remain in the account for 1 full year. Once that period is over, the stock can be sold at will.
The referrer is allowed to make 15 referrals in a single year.
The referrer can only refer 30 people total.
A referrer cannot refer a member of his or her own home.
Interactive Brokers Pros and Cons
As with all brokers, there are areas of strength and areas in need of further development. Here are some notable pros and cons.
Pros
- The variety of trading tools and platforms means investors of all types can find the right set of tools.
- Global reach means investors can diversify globally.
- Access to a diverse selection of investment vehicles helps investors find a style that works for them.
- Cash management solutions are available.
- Generous promotion is perfect for longer term investors.
Cons
- Platforms and tools may be ‘too professional’ for some. Newer investors should stick with IBKR Lite and/or the mobile apps.
- Customer service is a bit lacking.
- Research tools are not as strong as some other popular brokerage choices.
Length of qualifying period for the bonus payout is likely too long for some investors.
Arthur Chachuna is professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 23 years, and has background in both applied math and programming.
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