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Stockbroker

The 9 best brokerage account promotions and bonuses for 2024

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Updated: February 08, 2024

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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.

Axos Invest โ€“ $250

Fast 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.

J. P. Morgan Self-Directed Investing โ€“ Up to $700

Fast 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:

โ— Get $700 when you fund with $250,000 or more

โ— Get $325 when you fund with $100,000-$249,999

โ— Get $150 when you fund with $25,000-$99,999

โ— 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.

E*TRADE - Up to $1000

Fast facts
  • Broker bonus: Up to $1000
  • Minimum deposit to earn: $5,000
  • Holding period: 60 days

With up to $1000 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 BONUS24 when signing up.

Merrill Edge โ€“ Up to $600

Fast 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:

Deposit Amount
Cash Reward
$20,000 to $49,999
$100
$50,000 to $99,999
$150
$100,000 to $199,999
$250
$200,000+
$600

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.

Robinhood โ€“ Free stock up to $200

Fast 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.

Public โ€“ Free stock, ETF, or crypto up to $300

Fast 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 โ€œslice of stockโ€ 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.

TradeStation โ€“ Up to $3,500 cash or $150 Bitcoin

Fast 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.

Webull โ€“ Up to 12 free fractional shares

Fast 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.

SoFi Invest โ€“ Up to $1,000

Fast 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 โ€“ This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (โ€œRobinhoodโ€) and Moneywise, 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. Moneywise is not a member of FINRA or SIPC.

About our author

Tom Blake
Tom Blake, Staff Writer

Tom Blake is a personal finance blogger. His work has featured in Business Insider, Frugal Rules, MoneyCrashers, and a number of other financial blogs. When heโ€™s not in Canada Tom lives as a digital nomad, writing from locales like Colombia and Dubai. You can connect with Tom at his blog This Online World.

Disclaimer

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