Brokerage Promotions & Bonuses For 2023
Best brokerage promotions, cash bonuses, free stocks offers & other incentives for clients to open
a new account in May 2023
Broker Promotions List
Best Brokerage Firms Promotions & Bonuses in 2023
There are plenty of options to choose from in the world of low-cost brokers. To find the best firms,
you can consider the services and products offered, as well as the broker promotions and bonuses provided to new and existing customers.
Broker Promotions & Bonuses
Promotions and bonuses come in many forms. Here are the types of bonuses you can expect to see when opening a new brokerage account.
Transfer Fee Reimbursements
Transfer fee reimbursements are fairly common. Brokers often charge fees for account transfers (ACATS) and wire transfers. Transfer fee rebates reduce or eliminate the cost of bringing your money to the new broker.
Cash Bonus for Deposits
Deposit bonuses are among the most popular new account promotions. Some brokers will provide cash bonuses just for opening an account, but rewards are usually tied to deposits.
Deposit bonuses are usually based on a tiered scale – the more you deposit, the higher the deposit bonus gets. Deposit bonuses can range from $10 to $4000.
Free Stocks for New Brokerage Accounts
Another popular promotional item is a free stock giveaway for new account holders. Free stocks are randomly selected from a pool of predetermined companies or fractional shares valued at a specific dollar amount.
The value of free stock programs varies quite a lot. Some companies give single, low-value securities, while others provide as many as 15 free stocks. Likewise, fractional share giveaways range from $5 to $200, but the value of the securities can go as high as $3500 in some cases.
Commission Discounts
Many brokers offer discounts on trading commissions when you bring your business to them.
Even brokers that do not charge commissions on stocks and ETFs often have commissions on OTC securities, options, fixed-income securities, and mutual funds. Some waive commissions for a specific period.
Broker Referral Bonuses
Most brokers have some form of the referral bonus. Some offer perks like Amazon gift cards, while others provide free stocks and cash bonus programs.
Referral bonuses benefit both the referrer and the referee, and there is often an annual cap on how much money can be earned through the program.
Cryptocurrency Bonuses
In addition to the free stock programs and cash bonuses, some brokers also offer cryptocurrency bonuses.
Cryptocurrency bonuses are usually paid with Bitcoin, but other popular coins can also be used.
TD Ameritrade
TD Ameritrade’s promotions change all the time. You can access the promotional content for your account by going to ‘Client Services’ and clicking on ‘See My Offers.’ If there are any promotions tailored to you and your financial situation, they will be listed on the following page.
E*TRADE
E*TRADE offers many good promos and bonuses. You can earn up to $3500 for opening and funding a new account. The broker also offers an attractive referral bonus, paying $50 per referral, up to $500 per year.
Firstrade
Firstrade offers a cash bonus of up to $4000 for newly opened and funded accounts. The broker also provides transfer rebates for account and wire transfers. Account transfers can be refunded up to $200, and wire transfers can be refunded up to $25.
Interactive Brokers
Interactive Brokers offers a generous referral program that benefits the referrer and the referee. Referrers receive $200 for each new referral. Referees can earn up to $1000 in free stock when they open and fund a new account.
M1 Finance
At M1 Finance, customers can take advantage of a referral program and a free trial of the broker’s premium investing experience, M1 Plus.
The referral bonus provides the referrer and the referee with a $10 payout, and there is no limit to the number of awards received.
Moomoo
Opening an account at Moomoo comes with free stocks. You get one free stock to open the account and as many as 15 free stocks when you make a qualifying deposit. Each stock in the program can be valued at up to $2000.
Public
Public has many generous promotions. An account transfer bonus of up to $10,000 is available. You can also receive free stocks worth up to $300 when you open and fund a new account or refer new clients.
Robinhood
Robinhood offers free stocks worth up to $200 each to new customers and for the referral program. Investors are now able to select the company they would like to own stock in.
Sogotrade
Sogotrade takes a unique approach to promotions and zero-commission trading. For every 1000 shares traded, the broker gives you $1.
Stash
Stash promotions come in various forms. There is a ‘Stock Back’ program that allows credit card users to receive rewards in the form of fractional shares. Stash also hosts regular ‘#StashStockParties’ that give out free fractional shares to anyone who joins.
Tastyworks
Tastyworks provides new account bonuses in the form of free stocks, a referral program, and a capped commission pricing schedule.
New account holders can receive up to $250 in free stocks when they open an account with at least $2000. For referrals, users get credits up to $100 for each successful new account created. Credits are used for various ‘gifts’ such as prizes, trips, and even a Tesla Model 5.
TradeStation
TradeStation promos come in many forms. In addition to the cash offer for new accounts, TradeStation offers reduced trading commissions and a fully paid stock lending program.
Webull
Webull is one of the more generous brokers on our list. The broker’s offers are ever-changing, but they always include several free stocks for new accounts, referrals, and more. There is also a transfer bonus and complimentary quotes for new accounts.
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