Some give first-time customers bonuses worth hundreds of dollars if they open an account and make deposits that meet specific requirements. Many of the best credit cards for cashback and travel rewards come with welcome offers that are hard to turn down. The best of these deals are just as good as the best deals on new bank accounts. The best platforms in the U.S. for both self-directed and managed investments offer significant bonuses for opening new accounts. When you open a new brokerage account, the best deals are much better than when you open a new bank account or get a new credit card. Let us see what are the best brokerage account promotion deals.
The Best Brokerage Account Bonuses for 2022
Check out these brokerage bonuses offers if you're looking for a new company to help you manage your portfolio or if you're a new investor who wants to get started.
1. Tastyworks Promo
Tastyworks is an online brokerage that helps investors get the tools they need to trade independently. When an investor opens a new account, Tastyworks gives them 100 shares of a specific stock or ten options. You can choose to get the stock or the option, but if you don't, you'll automatically get the option. Tastyworks says that stocks are picked at random and will be worth between $1 and $6. This means that you can get $100 to $600 if you choose the stocks. The average price is between $200 and $220, according to its website.
2. TD Ameritrade Bonus
TD Ameritrade is one of the largest brokerages in the U.S., and its website says it gives all kinds of investors a place to invest and learning tools and resources. Also, TD Ameritrade does not charge commissions on mutual funds, online trades of stocks, and ETFs (exchange-traded funds).
3. Bonus Stash
If you're new to investing, you might not be able to put down a sizeable minimum deposit. But if you use Stash Invest, you can get a $5 bonus when you open and put at least $5 into a Stash investment account. Even though it is a small bonus, your first $5 deposit will be matched dollar for dollar. Remember that there are monthly fees that can range from $1 to $9; depending on how many features you want and how much stock-back you want to earn.
4. Robinhood Bonus
Robinhood was one of the first companies to let people invest and trade on their phones without paying any fees. On Robinhood's website, it says that its platform lets you trade stocks, options, cryptocurrencies, and ETFs for free and with no minimum initial investment. Also, Robinhood says that new investors who sign up for an account and link it to a bank account can get free stock worth between $3 and $225. Also, keep in mind that the value of this promotion and other offers from Robinhood in the same calendar year can't add up to more than $500 per household.
5. Bonus from Ally Invest
Ally is a bank that is only available online. It offers a wide range of banking, lending, and wealth management services to its customers. When first-time investors open an account with Ally Invest, they also get a brokerage bonus. Ally Invest says on its website that trading qualified stocks, ETFs, and options on U.S. exchanges does not cost extra. Ally Invest promises to offer options trading and a variety of ETFs from GlobalX, iShares, Vanguard, and other companies for only $0.50 per contract.
6. BlockFi Bonus
From what its website says, BlockFi is taking steps to help investors profit from the growing cryptocurrency market. Investing in cryptocurrency is a relatively new way to do so. BlockFi says that their platform lets investors buy and sell different cryptocurrencies, get interested in their investments, and even borrow money using their bitcoin holdings as collateral. Continue reading to learn more about BlockFi.
Final Word
You can't be blamed for not wanting to switch brokers if you're happy with the one you have. But the chance of getting a brokerage bonus worth hundreds or thousands of dollars is often enough of a reason. Most of these brokerages go out of their way to make sure their bonuses for new accounts are easy money. Most of the time, moving assets to a newly opened account doesn't take much more than filling out an account application and giving permission for an electronic funds transfer or asset rollover. This is a quick and easy step that can be done in 15 minutes or less.
