The 9 best brokerage account promotions and bonuses for 2023
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Updated: July 25, 2023
We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.
We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.
If you're on the market for a new online broker, you're in luck. These days, plenty of companies have ongoing brokerage account promotions you can take advantage of to earn free cash. And with a large enough qualifying deposit, it's possible to earn thousands of dollars from some of the most competitive companies.
This is our list of some of the very best online stock broker promotions running right now.
1. Axos Invest – $250
Quick Facts
Broker Bonus: $250
Minimum Deposit To Earn: $2,000
Holding Period: 60 days
Axos is a full-service online bank that's known for its variety of no-fee checking accounts and its competitive high-yield savings account. It also has a promotion of $250 once you open an Axos Invest account for its Axos Invest Self-Directed Trading or Managed Portfolio and fund it with at least $2,000.
You have up to 60 days to make a qualifying deposit and have to keep your balance at or above this amount for that time period to earn the bonus. Axos even waives transfer fees up to $300 to encourage you to sign up.
2. J. P. Morgan Self-Directed Investing – Up to $700
Quick Facts
Broker Bonus: Up to $700
Minimum Deposit To Earn: $10,000
Holding Period: 90 days
J.P. Morgan Self-Directed Investing is one of our favorite brokers for mutual funds since it doesn't charge commissions, which is hard to find. Plus, it has one of the best broker promotions right now and pays new customers up to $700 for opening and funding a new account. Here's how the promotional tiers work:
- Get $700 when you fund with $250,000 or more
- Get $325 when you fund with $100,000-$249,999
- Get $150 when you fund with $25,000-$99,999
- Get $50 when you fund with $5,000-$24,999
You have 45 days to fund your account from opening to receive the bonus. There's a 90-day holding requirement as well. Note that this stock broker offer is set to expire on 07/13/2023, but may be up for renewal.
Disclosure: Investment and insurance products are: not a deposit, not FDIC-insured, no bank guarantee and may lose value.
3. E*TRADE – Up to $600
Quick Facts
Broker Bonus: Up to $600+
Minimum Deposit To Earn: $5,000
Holding Period: 60 days
With up to $600 in cash up for grabs, E*TRADE has one of the best stock broker promos currently running. All you have to do is open an E*TRADE brokerage or retirement account with a qualifying deposit of $5,000 or more and use the code BONUS23 when signing up.
You have to hold funds in your account for 60 days to get your bonus. E*TRADE‘s promotional tiers are as follows:
Note that this promotion expires on April 18, 2023, but is subject to renewal at E*TRADE's discretion.
4. Merrill Edge – Up to $600
Quick Facts
Broker Bonus: Up to $600
Minimum Deposit To Earn: $20,000
Holding Period: 90 days
Merrill Edge is a discount broker from Bank of America that's known for its extensive research offerings and ESG investing options. It also has an excellent stock broker bonus of up to $600 in cash. There are four different promotional tiers ranging from $100 to $600 in cash bonuses:
You have 45 days to make your deposit and must hold funds in your account for at least 90 days to receive your cash bonus. Use code 600ME when signing up to qualify.
5. Robinhood – Free stock up to $200
Quick Facts
Broker Bonus: One free fractional share valued up to $200
Minimum Deposit To Earn: Link your bank account
Holding Period: 3 days for stock, 30 days for cash value
While it doesn't have the largest stock broker promotion out there, Robinhood is still one of the most beginner-friendly investment apps out there. New customers who link their bank account to Robinhood get a free fractional share that can be anywhere from $5 to $200. There's a 98% chance your share is worth $5 to $10, but if you get lucky, it's a great bonus.
You can also receive this bonus again if you refer eligible new customers to Robinhood. Just note that you have to wait three days to sell your stock and 30 days before withdrawing the cash proceeds from your account.
6. Public – Free stock, ETF, or crypto up to $300
Quick Facts
Broker Bonus: One fractional share valued up to $300
Minimum Deposit To Earn: $20
Holding Period: 90 days
Like Robinhood, new Public users can get a free “slice of stock” valued at anywhere from $3 to $300 when they open and fund an account. You have to deposit at least $20 to qualify for the promotion, and you get a fractional share of a stock, ETF, or cryptocurrency.
According to Public, you have a 95% chance to receive a $3 reward, 4.9% chance to receive a $5 reward, and a 0.1% chance to receive a $300 reward.
These aren't incredible odds. But Public is one of our favorite investing apps since it's easy to use and also supports crypto trading and alternative investments. And, it doesn't use payment-for-order-flow unlike Robinhood and many other brokers.
7. TradeStation – Up to $3,500 cash or $150 Bitcoin
Quick Facts
Broker Bonus: up to $1,500
Minimum Deposit To Earn: $500
Holding Period: Three months
Right now, TradeStation has two different broker promotions going on: a cash bonus and a free Bitcoin bonus. New customers can get up to $3,500 in cash for opening a new TradeStation account or $150 worth of BTC for opening a new TradeStation Crypto account.
Here's how the cash promotion works:
- 1.
Open a new TradeStation account and use promo code TSTVAGFD
- 2.
Fund your account with at least $5,000 in new cash within 45 days of opening (you'll receive $150 for a deposit of $5,000 and up to $3,500 for a deposit of $1,000,000)
- 3.
Maintain this balance and receive a cash reward between $150 and $3,5000
And here's how the Bitcoin promotion works:
- 1.
Open a TradeStation Crypto account and use promo code NERDAGCT
- 2.
Buy or deposit $500 of a supported crypto within 45 days of opening
- 3.
Maintain this balance and receive $150 worth of Bitcoin
For the Bitcoin promotion, the reward is paid out in two monthly payments of $75 value each, the first at the end of the second month after meeting activity qualifications and the second at the end of the third month after meeting activity qualifications.
8. Webull – Up to 12 free fractional shares
Quick Facts
Broker Bonus: 2 free fractional shares for opening an account and another 4-10 for funding
Minimum Deposit To Earn: Any amount qualifies
Holding Period: None
Like Robinhood, Webull also has a free stock broker promotion that gives you up to 12 free stocks so you can hit the ground running with investing.
Webull's broker promotion has two steps:
- 1.
Open a new Webull account and receive two free stocks valued from $3 to $300
- 2.
Fund your new account and get four-ten stocks valued from $7 to $3,000
Odds are you're going to get a handful of fractional shares worth anywhere from $3 to $10 since landing the more expensive stocks is very unlikely. But if you're switching to Webull or want an easy way to start investing with little money, it's a nice broker bonus to go for.
Note that stocks appear in your account roughly 10 business days after you qualify and you can sell them any time you want.
9. SoFi Invest – Up to $1,000
Quick Facts
Broker Bonus: Up to $1,000
Minimum Deposit To Earn: None
Holding Period: None
SoFi is an online-only bank that offers a range of financial services, including its Automated Investing program, Active Investing, a rewards credit card, and a rewards checking and savings account.
If you open a new Active Investing account, you can win between $5 and $1,000 just for opening the account. You don't need to make a deposit, although you have a roughly 85% chance to get a $5 reward and a 9.5% chance to get a $10 reward. The odds of getting a $100 reward is 1.66% and you're looking at 0.28% odds for the $1,000 reward.
However, SoFi has plenty of other lucrative sign-up bonuses where you have more control. You can also get up to $100 in free Bitcoin for trying crypto trading.
SoFi customers also get free access to human financial advisors, so it might be worth switching to for the bonuses and human advice you can get.
The bottom line
The world of online brokers is a competitive one, and companies are willing to pay for new business. So if you're looking for a new broker or are unhappy with your current one, make sure you leverage stock broker promotions when signing up somewhere new.
Of course, you should also consider the broker's fees, research offerings, and other features to make sure it has what you're looking for. And be careful with transfer fees since they can take a healthy chunk out of cash bonuses if you're not careful.
Advertiser Disclosure– This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and InvestorJunkie, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. InvestorJunkie is not a member of FINRA or SIPC.”
