To qualify for the best brokerage sign-up bonuses, you'll usually need to be a new customer and make a minimum deposit. But bonuses aren't the only factor to consider when choosing a stock broker. Check out our guide for how to choose the right brokerage firm to learn more about finding an investment account that suits your needs.
SoFi Invest: Chance to win $5 to $1,000 in stocks
The SoFi Invest bonus might appeal to anyone with a small amount to invest, as you only need $25 to take part. It works along the same lines as an arcade claw machine, though all customers will win something. New customers can participate in an electronic lucky dip to win one of the following offers:
- $5 (85.5% odds)
- $10 (9.5% odds)
- $25 (3.3% odds)
- $100 (1.7% odds)
- $1,000 (0.03% odds)
You then convert the prize into fractional shares of your choice.
If you're considering moving your retirement money to a new brokerage, SoFi Invest has another interesting welcome bonus. Depending on how much you move into taxable SoFi Invest Active Brokerage or Active retirement accounts (Traditional, Roth, or SEP IRA), you can earn up to $10,000 in bonus payments.
- $5,000 to $24,999: $100 bonus
- $25,000 to $99,999: $200 bonus
- $100,000 to $249,999: $500 bonus
- $250,000 to $499,999: $750 bonus
- $500,000 to $999,999: $1,000 bonus
- $1,000,000 to $4,999,999: $2,500 bonus
- $5,000,000 and above: $10,000 bonus
SoFi Invest stands out for its top-notch mobile app, commission-free stock and options trading, and low account minimum.
Check out our SoFi Invest promotions page for more.
Robinhood Gold: 1% IRA match
Many of the offers on this page don't apply to retirement accounts. But Robinhood's IRA match is different. If you transfer an IRA -- individual retirement account -- to Robinhood, you'll get 1% back on the amount you move.
Even better, if you're willing to sign up for the premium Robinhood Gold service for a year, you can get 3% back on eligible IRA contributions. This does not apply to transfers. You need to keep the funds in your IRA for at least five years to keep the match.
Check out our Robinhood promotions page for more.
E*TRADE: Bonus of $100 to $5,000
The popular low-cost broker, E*TRADE has two offers -- one for new customers and another for existing ones who open a new account. Both offers are valid until Sept. 30, 2024.
If you're new to E*TRADE and use the promo code REWARD24 when you open one of its non-retirement brokerage accounts, you could qualify. You need to deposit money or securities within 60 days of account opening.
- $50 to $999: $100 bonus
- $1,000 to $19,999: $150 bonus
- $20,000 to $99,999: $300 bonus
- $100,000 to $199,999: $600 bonus
- $200,000 to $499,999: $800 bonus
- $500,000 to $999,999: $1,000 bonus
- $1,000,000 to $1,499,999: $3,000 bonus
- $1,500,000 and above: $5,000 bonus
If you already have an E*TRADE account and open a new one, you need to deposit at least $500,000 in funds and securities across your accounts to qualify. You can earn between $100 and $1,000 in bonuses, depending on how much you deposit and where you put the money.
Check out our E*TRADE promotions page for more.
Tastytrade: Cash bonus of $50 to $5,000
Tastytrade, the trading platform that stands out for its options trading, is offering new customers as much as $5,000 when they sign up. To qualify, you'll need to deposit at least $2,000 in cash or by account transfer and enter MYNEWBONUS when you open an account. You won't be able to withdraw your funds for a year if you want that tasty bonus. The offer is valid until Dec. 31, 2024.
- $2,000 to $4,999: $50 bonus
- $5,000 to $24,999: $100 bonus
- $25,000 to $99,999: $500 bonus
- $100,000 to $249,999: $2,000 bonus
- $250,000 to $499,999: $3,000 bonus
- $500,000 to $999,999: $4,000 bonus
- $1,000,000 and above: $5,000 bonus
J.P. Morgan Self-Directed Investing: $50 to $700 in cash bonus
You'll need to open a new J.P. Morgan Self-Directed Investing account from the offer launch page. Next, deposit money, transfer securities, or roll over assets within 45 days, and keep them there for at least 90 days to qualify for this bonus offer. Offer expires Oct. 11, 2024. The bonus amount depends on how much you deposit:
- $5,000 to $24,999: $50 bonus
- $25,000 to $99,999: $150 bonus
- $100,000 to $249,999: $325 bonus
- $250,000 and above: $700 bonus
The offer does not apply to J.P Morgan's robo-advisor account. J.P. Morgan Self-Directed Investing offers commission-free stock, mutual fund, and ETF trading.
Check out our J.P. Morgan Investing promotions page for more.
M1 Finance: Bonus of $75 to $500
M1 Finance will pay up to $500 to new customers who deposit money into an M1 taxable account within 14 days of account opening. The offer runs until Dec. 31, 2024. The size of your bonus depends on how much you deposit.
- $10,000 to $29,999.99: $75 bonus
- $30,000 to $49,999.99: $150 bonus
- $50,000 to $99,999.99: $250 bonus
- $100,000 and above: $500 bonus
Check out our M1 Finance promotions page for more.
TradeStation: Bonus of $150 to $3,500
If you open a non-retirement account with TradeStation and deposit more than $5,000 in cash or securities within 45 days, you could qualify for a welcome bonus. You'll need to use the promo code TSTVAGFD and leave the assets with TradeStation for 270 days, after which your reward will be deposited into your account.
- $5,000 to $24,999: $150
- $25,000 to $99,999: $300
- $100,000 to $249,999: $500
- $250,000 to $499,999: $1,000
- $500,000 to $999,000: $2,000
- $1,000,000 and above: $3,500
Check out our TradeStation promotions page for more.
Moomoo: 5 to 15 free stocks
Moomoo has a three-pronged welcome offer for new customers that runs until Sept. 30, 2024. It will pay a special APY of 8.10% on uninvested cash for three months after account opening. That's its cash sweep APY of 5.10%, plus a three-month extra boost of 3%.
On top of this, new clients who deposit at least $100 can win free stocks worth between $2 and $2,000 each. Make a qualifying deposit and maintain a balance of at least $100 for 60 days to win five free stocks, or $1,000 for 10 free stocks.
Finally, transfers of stocks and options worth up to $20,000 from certain brokerages are eligible for a 1.5% match. Read the fine print to make sure your transfer will qualify.
Webull: 3.5% match on IRA transfer and new contributions
The limited-time offer from Webull runs until Aug. 15, 2024 -- so there's a narrow window to apply. Click 'Claim this offer' and make qualifying deposits or transfers of up to $1 million from any IRA account. The bonus will be paid in five annual installments, and customers need to keep the payment in their account for at least 90 days after it is paid.
Check out our Webull promotions page for more.
Charles Schwab: Up to $6,000 cash bonus
There are three ways to earn welcome rewards with Charles Schwab right now.
1. Schwab Investor Reward
Schwab will pay a welcome bonus of $300 to $6,000 to new customers who deposit cash or securities into a qualifying account. Investors will need to deposit at least $50,000 into a qualifying account -- which includes various brokerage accounts and IRAs -- within 45 days of account opening.
- $50,000 to $249,999: $300 bonus
- $250,000 to $499,999: $600 bonus
- $500,000 to $999,999: $1,200 bonus
- $1,000,000 to $4,999,999: $2,500 bonus
- $5,000,000 and above: $6,000 bonus
2. Schwab Referral Offer
Referred friends and family of Charles Schwab clients can earn a Bonus Award for becoming a new Charles Schwab client and making a qualifying net deposit. There's a limit of one cash bonus per account and only one account per client with the referral. New investors using the referral offer can receive up to $1,000 in bonus cash as long as they meet the tiered deposit requirements.
- $25,000 to $49,999: $100 bonus
- $50,000 to $99,999: $300 bonus
- $100,000 to $499,999: $500 bonus
- $500,000 and above: $1,000 bonus
3. Schwab Starter Kit
Referrals aren't the only way you can earn a welcome bonus with Schwab. The Schwab Starter Kit™ will give new investors $101 to buy five fractional shares as well as access to its introductory investing videos. To qualify, you need to deposit at least $50 within 30 days of opening a new taxable retail brokerage account.
Check out our Charles Schwab promotions page for more.
Merrill Edge® Self-Directed: $100 to $600 in cash bonus
Use the offer code 600ME to receive an introductory bonus when you open a Merrill Edge® Self-Directed account with at least $20,000. You'll need to deposit qualifying assets within 45 days of account opening and keep them there for at least 90 days to qualify.
- $20,000 to $49,999: $100 bonus
- $50,000 to $99,999: $150 bonus
- $100,000 to $199,999: $250 bonus
- $200,000 and above: $600 bonus
Merrill Edge® Self-Directed has all the features you'd expect from a top broker and is a particularly great option for Bank of America customers.
Check out our Merrill Edge promotions page for more.
How to pick the best broker bonuses
When picking the best broker promotions, first figure out the minimum requirements to qualify for the bonus. For example, many cash bonuses require you to make a minimum deposit, which can be both cash and securities, and to hold those funds in an account for a set period of time. Think about how much you plan to invest and which account offers the best bonus for that amount. Also, make sure the offer is still valid before you deposit money.
Another factor to consider is whether it is a stock bonus or cash bonus. New account holders with some brokers can receive free stocks opening a new account and meeting a minimum deposit requirement. However, many of these stocks are chosen at random, and the value is determined by a probability distribution.
Don't open a brokerage account purely because of the sign-up bonus. Look for an account that will suit your investment needs and won't charge you a fortune along the way. A bonus can be a nice boost to your investments, but ensuring that a given brokerage offers the account types, products, and tools that you want to use is more important.
How should you use the brokerage bonus earned?
For cash bonuses, you can use those funds to purchase stocks, bonds, or funds, or keep it as cash as part of a diversified portfolio. Just be aware that if you want to transfer the bonus out of your account, there may be a minimum holding period. Otherwise, you could lose the bonus.
If you got a stock bonus, you may hold or sell awarded stocks once they're credited to your account. The value from sale of the stock can be withdrawn or used to buy other eligible securities.