Brokerage account promotions
A discount broker is an online broker with rock-bottom pricing. They will help you keep transaction costs down without hindering your ability to trade stocks, mutual funds, exchange-traded funds and other securities. Show Less. Interactive Brokers' IBKR Lite is a strong option for frequent traders: The broker offers international trade capabilities, no stock-trading commission and a quality trading platform.
Best Broker Promotions, Deals, and Bonuses of 2020
Many brokerage firms compete for business by offering new account promotions based on the assets you can transfer to their platform. While the promotions shouldn't the only consideration, it can be a big one since the dollar amounts are so large on these bonuses.
If you have any concerns about the process, you can check the FAQ below on some common questions about brokerage transfers. They also offer free trades so it's a winner all around. Webull is a free trading app from Webull Financial. We have a full review of Webull and their offer here. All you have to do is open your account within 24 hours of starting it.
They have no fees and no account minimums so it's truly free stock. Super simple, everyone should do this. Get your free stock from Webull. Ally Invest is the online brokerage account I use because they offer free trades U. I have an Ally Bank account so managing it all with one login is convenient too. I wish I would've taken advantage of their new account bonuses for transfers because it's one of the most generous, here is the schedule based on how much you deposit within 60 days of account opening:.
They will also credit transfer fees if you move your account from another brokerage. Learn more about Ally Invest. You Invest by J. Maintain the funds for 90 days and you'll get the bonus in 10 business days. There's also no monthly service fee! All customers get unlimited commission-free online stock, ETF, and options trades. There are options contract and other fees may apply. Learn more about You Invest by J. The only added step is you need someone to refer you — but we can do that if you email me at.
I'm sorry you can't cut and paste this, it's to prevent bots but I think it's easy to remember! TDAmeritrade is always updating their promotions so always check here to make sure you have the right one. SoFi Invest is the brokerage arm of SoFi, the student loan refinancing company. With Active Investing, you can invest in stocks, cryptocurrencies, and ETFs without paying a trading commission.
There's no trading requirement. Betterment is one of the largest and most respected robo-advisors , you can see our review of Betterment for a closer look at their service. For new accounts, they will waive the management fee of 0. Learn more about Betterment. You just need to transfer your funds within 45 days, maintain that balance for 90 days, and you will get the cash bonus in 2 weeks.
If you are not a Stock Plan Service, they won't give you this promotion they will even let you apply and enter in a promotion code, but they won't give you the bonus. If you are considering this offer, call to confirm the details. See the offer at Charles Schwab. The only requirement is that you make one trade within a year and you can keep the bonus.
There are no other requirements for the new account bonus. There is also a deposit bonus. For a limited time, after you open your account, you can get a bonus based on what you deposit. You need to maintain this amount for one year to keep the deposit bonus. Robinhood is a relatively new brokerage that will give you a free share of stock when you open an account. There are no other requirements of the offer, you just need to open an account.
You can read more about the free share of stock promotion here. Get a free share of stock. Here is also how Robinhood compares to Webull. Learn more on the promotion page. With the recent rush of brokerages offering free trades , the promotion is now just cash. You can find the full details here but this is the offer:. Fidelity doesn't offer any cash bonus but if you open a new account, they will give you free trades.
It's less sexy than some of the other offers on this list but that's the only thing they offer so there you have it! See the offer at Fidelity. This means that it transfers your assets as they are without you having to sell them. So if you have big gains in the stock, the shares just get transferred without you having to sell them, transfer the cash, and then buy them again. You may run into hiccups if some items can't be transferred. One common example is Vanguard Admiral shares of their mutual funds.
Some brokerages will take them, others won't. In these cases, you may have to transfer them to another asset type like the ETF version , which will accept them. I don't know if it's worth hopping around from broker to broker, grabbing up the bonuses, but the process isn't difficult. If you're looking to make a move anyway, getting paid a little for the effort is better than not being paid. Some brokers may charge you to leave, which is something you'd be paying anyway, so hopping around may reduce your returns from the bonus perspective.
If you are creating new taxable brokerage accounts, the bonuses will be reported and you will have to claim them on your taxes as income. If you are creating retirement accounts, like an IRA, the bonuses are going into those accounts so you won't owe taxes on them. For traditional IRAs, you'll just be taxed when you start taking distributions.
Roth IRAs will never be taxed. For each account, review the terms and conditions to see how the brokerage is treating it and you'll know for certain. Jim Wang is a thirty-something father of three who is a contributor to Forbes and Vanguard's Blog. Jim has a B. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.
One of his favorite tools here's my treasure chest of tools, , everything I use is Personal Capital , which enables him to manage his finances in just minutes each month.
They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free. He is also diversifying his investment portfolio by adding a little bit of real estate.
But not rental homes, because he doesn't want a second job, it's diversified small investments in Fundrise and a farm in Illinois via AcreTrader. Are you looking to open a new brokerage account but aren't sure which one? Otherwise, here are the best bonuses we've found: Our Picks: Broker. Webull [Best for Free Stock]. Webull is our Editor's Pick as the best brokerage promotion because the promotion is so simple — open an account and deposit any amount. You get free shares of stock. It's is better than Robinhood , which has a similar offer, because they give you two shares of stock.
Robinhood gives you just one. Get free stock from Webull. Ally Invest [Highest Cash Bonus]. Ally Invest has the highest cash bonus if you transfer your assets to their brokerage. Get a cash bonus from Ally Invest. In This Article:. Other Posts You May Enjoy. How to Buy and Invest Gamble in Cryptocurrency. Disclaimer I am not a financial adviser. The content on this site is for informational and educational purposes only and should not be construed as professional financial advice.
Please consult with a licensed financial or tax advisor before making any decisions based on the information you see here. Advertising disclosure: I may be compensated through 3rd party advertisers but our reviews, comparisons, and articles are based on objective measures and analysis. For additional information, please review our advertising disclosure.
E-Trade: $ to $3, Merrill Edge: $ to $
Want to trade stocks? On these measures, the brokerage firms below earned their place on our list of the best online brokers for stock trading. We evaluated brokerage firms and investment companies on the services that matter most to different types of investors. For example, for active traders, we've noted online brokers with low or no commissions and robust mobile trading platforms.
If you're looking for a new brokerage, consider opening your account with one of these institutions. All promotional data presented is accurate as of May
Best Brokerage Deals. Your email address will not be published. Notify me of follow-up comments by email.
10 Best New Brokerage Account Promotions & Bonus Offers – May 2020
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Best brokerage account bonuses in May 2020
Kevin Mercadante. You Invest by J. Morgan You Invest by J. All qualify for the cash bonus. All accounts must be funded at these levels in the first 45 days and remain in the account for at least 90 days. They also have a mobile app Chase Mobile App that makes trading a breeze. Details are as follows. The offer includes quarterly one-on-one check-in sessions with a trading coach over the course of the year.
Maximizing Money covers various investment offers and brokerage bonuses that will give you extra cash rewards, free trades and more, including brokerage, retirement, investing, and trading accounts.
Many brokerage firms compete for business by offering new account promotions based on the assets you can transfer to their platform. While the promotions shouldn't the only consideration, it can be a big one since the dollar amounts are so large on these bonuses. If you have any concerns about the process, you can check the FAQ below on some common questions about brokerage transfers. They also offer free trades so it's a winner all around.
Current Deals
May 1, 0. As the saying goes, April showers bring May flowers. After a whirlwind of unexpected changes in the last month, resulting from the global health and economic crises, there appears to be an increase in DIY investor confidence when it comes to stepping back into the markets. Despite current market volatility, there has been a recent surge in interest and activity …. April 1, 0. To start off the month, online brokerages have opted to stick to tried-and-true offerings, perhaps …. March 1, 0. February 1, 0. February is finally upon us. In spite of the cheer, to quote a famous rock anthem, every …. January 2, 0.
11 Best Discount Brokers 2020
Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Advertiser partners include American Express, Chase, U. Bank, and Barclaycard, among others. Some reward first-time customers with bonuses worth hundreds of dollars just for opening an account and making qualifying deposits. The best land on our regularly updated roundup of the top new bank account promotions. These are the best new brokerage account promotions for this month. All are subject to change, so check back often for updates.
