E*TRADE IRA Promotion
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E*TRADE IRA Promo Code
If you are looking into opening a new brokerage account, E*TRADE may well be worth consideration. The popular broker is offering an attractive cash offer, totaling as much as $600 per customer! To get the full amount of free cash, you will need to make a sizable deposit, but with the tiered rewards system new accounts of all sizes can also benefit. Keep reading for more details.
E*TRADE IRA Bonus Details
The E*TRADE $600 cash offer is available to anyone opening and funding a new account at E*TRADE. The
bonus is for new customers, so if you already have an account at E*TRADE you will need to look at one
of the other bonus programs.
Deposits must be made within the first 60 days of the account to trigger the bonus cash, and you must open a ‘qualifying’ account (more on these details further along).
This particular cash offer from E*TRADE will pay higher bonus amounts for higher deposits, benefiting those with larger accounts a bit more. There are also a few variations of the bonus that are designed to benefit customers who do not ‘qualify’ for the $3,500 bonus.
Opening a New Account at E*TRADE
As mentioned, there are some accounts that you can open that qualify for the cash bonus and some that do not. In any case, it is important to know how to open an account at E*TRADE.
First, navigate to the account selection screen. You can find it here (nice place for a link). From the account selection screen, you can choose to open a single account or multiple at the same time.
Once you have selected the account types that you want, follow the instructions to fill out the application form and enter your promo code to activate the bonus.
E*TRADE Bonus Tiers
The cash bonus is given out in increasing amounts depending on the size of your deposits within the first 60 days. The deposits do not have to be made all at once. E*TRADE will add all of the deposits that you make within the qualifying period to determine how big of a bonus your account has earned.
Here is the E*TRADE bonus offer breakdown for each deposit tier.
| Etrade Bonus | Deposit or Transfer |
|---|
| $3,500 | $1,500,000+ |
| $2,500 | $1,000,000 - $1,500,000 |
| $1,200 | $500,000 - $999,999 |
| $600 | $200,000 - $499,999 |
| $300 | $100,000 - $199,999 |
| $200 | $50,000 - $99,999 |
| $100 | $20,000 - $49,999 |
| $50 | $10,000 - $19,999 |
| $0 | less than $10,000 |
Additional ETRADE Bonus Options
The $3,500 cash offer is available for new customers opening new accounts. That means there are some investors who are left out of this special deal. To ensure that they aren’t leaving too many out, E*TRADE decided to add in a few additional offers for existing customers and for investors looking to open more than one account.
For both existing customers and new customers opening multiple accounts, the same 60-day qualification period applies. Once the 60-period completes, the bonus is credited to the account that triggered it within 7 days.
ETRADE Promo for Existing Customers
Existing customers can either fund a current account with a qualifying amount or open a new account. In both cases, the max payout of bonus cash is set to $600 per account, or per deposit.
E*TRADE IRA Promo Code
Open Etrade Account
New Customers Opening Two or More Accounts
New customers opening two or more accounts at the same time are subject to the same rules as
existing customers. Each new account can receive a max payout of $600 in E*TRADE bonus funds.
| Etrade Bonus | Deposit or Transfer |
|---|
| $600 | $200,000+ |
| $300 | $100,000 - $199,999 |
| $200 | $50,000 - $99,999 |
| $100 | $20,000 - $49,999 |
| $50 | $10,000 - $19,999 |
| $0 | less than $10,000 |
E*TRADE Promo Eligible Account Types
To take advantage of the cash offer discussed in this article, you will need to open one of the following account types:
- E*TRADE brokerage account
- Coverdell account
- Individual 401(k)
- Roth Individual 401(k)
- Traditional IRA
- Roth IRA
- Beneficiary Traditional IRA
- Beneficiary Roth IRA
- Rollover IRA
Ineligible Account Types
While most account types at E*TRADE are eligible for the cash bonus, there are a few that are not.
Business accounts, SEP IRA accounts, SIMPLE IRA accounts, IRAs for minors, Estate and Trust IRAs, profit sharing accounts, money purchase pension plans, and noncustodial investment only retirement accounts, are not eligible for this promotion.
ETRADE IRA Promo Code Terms
To receive the complete bonus, you must be a new customer opening one new account.
Deposits must be new money to E*TRADE. Whether you are transferring stocks and ETFs via an ACAT transfer, funding directly, or transferring a retirement account, the funds cannot originate from an account associated with E*TRADE.
To qualify for the main bonus, you must not open any other E*TRADE accounts within the qualifying phase (first 60 days of the new account). If you do, the multiple account bonus rules kick in and the max payout would be $600 per account with a qualifying deposit in each.
The deposit used to trigger the cash bonus should remain in the account for 12 months.
While it is necessary to hold the initial deposit balance in the account for 12 months, losses from trading and investments will not have a negative impact on the bonus.
Read detailed E*TRADE Review
E*Trade Pushes ETFs
E*Trade has been aggressively pushing customers towards investing in ETFs (Exchange Traded Funds). These products offer
the benefits of mutual funds but are easier to buy and sell and are often less expensive to own. ETFs
have grown in popularity drastically since E*Trade was founded.
E*Trade has partnerships with many providers of ETFs which make the purchase of their products
commission free. The 2,000+ commission free options are across many different types of funds,
including Domestic, International, Fixed Income and specific sectors. The ETF screener is easy to use,
allowing the user to search through the 2,000+ ETFs available.
Power Tools for Power Users
E*Trade also has a suite of options available for users who trade a lot. It has E*Trade Pro, which is desktop software for users who trade more than 30 times per quarter. They also give discounted trade pricing to those users, both for stocks and for futures contracts. It also supports Futures trading and trading in penny stocks. Desktop software would be a good fit for a trader who trades a lot as the trade might go through faster, saving the client money.
It also provides “Power ETRADE” which is special software for Power users to trade options. It provides dedicated phone support for options traders. E*Trade is trying to be the provider of services or both casual users and power users.
Is E*TRADE Free to Use?
For our readers who are asking if E*TRADE is free to use, the answer is Yes, there is no charge to use the service. There are no account
maintenance or inactivity fees at E*TRADE. Minimum to open an account is $500 for a non-retirement account, and $0 for a retirement account.
Like all brokerage firms, E*TRADE is charging commission on many investment products. So in this sense E*TRADE is not free.
Here is a table of commission charges from the broker and from its main competitors:
E*TRADE ROTH IRA Promo Code
Open Etrade Account
Updated on 3/16/2024.
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