Best Broker Bonuses for 2023 The Motley Fool

You deposit cash in a brokerage account and use the funds to purchase investment assets like stocks, bonds, mutual funds and exchange-traded funds (ETFs). Brokerage accounts are used for day trading to earn short-term profits, as well as investing for long-term goals. Most brokerage accounts also provide a way to earn a decent yield on uninvested cash. Tradestation is among the best choices for advanced, active traders, due to its high-quality trading platforms, tools and research. But it also offers features that appeal to more casual investors, including commission-free stock, ETF and options trades.

• During the current promotion, you earn $75 when you get a qualifying paycheck deposit of at least $200.
• If you use the City Index Trading Platform, you can use a guaranteed stop loss to protect yourself should trades not go in your favour.
• In our analysis, 11 online brokers stood out as the best brokerage accounts to trade stocks, due to their low fees, strong trading platforms and quality customer support.
• Since Wells Fargo savings account won’t earn much interest — expect about 0.15% APY — your earnings will come solely from the bonus.

Fidelity provides high-quality trade execution while keeping costs minimal. It has the rare distinction of being a broker that offers commission-free stock, ETF and option trading while not selling order flow. An average of 85% of orders are executed at a better price than the National Best Bid and Offer (NBBO), with an average execution speed of 0.07 seconds. TD Ameritrade is a highly versatile online broker that shines in many areas, from education and research to its platform and technology.

Do brokerages offer promotions?

Robo-advisors are software platforms that use algorithms to build and manage an investment portfolio based on your investing preferences, goals, time horizon, and risk tolerance. Robo-advisors typically choose a portfolio of exchange-traded funds (ETFs) to create a balanced and diverse portfolio. Because robo-advisors are automated, they are generally much cheaper than traditional financial advisors.

• Other features liked include the availability of MetaTrader 4, MetaTrader 5, TradingView and their suite of social trading tools, including the BlackBull Copy app, Myfxbook and DupliTrade.
• Our editorial team does not receive direct compensation from our advertisers.
• One way they do so is by offering competitive bonuses that you can add right to your brokerage account.

To qualify, you must make an initial transfer of $2,000 or more from a current brokerage account. In order to meet the requirements for this bonus offer, your Ally Invest account must be funded with a new deposit within 60 days of the account opening. You can earn 5% or more on uninvested cash in your brokerage account. But to do so, you have to choose a broker with a high cash sweep rate, like those listed here. EToro empowers millions of users in over 140 countries to trade and invest in a simple and transparent way.

Webull Promotion

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To qualify, ask a friend or family member with a Schwab account to send you their unique referral code. Then use the code to open a new Schwab account with an initial deposit or deposits totaling at least $25,000. Please refer to the Terms and Conditions for eligibility and see offer for more details.

J.P. Morgan Self Directed Investing

M1 Finance is a unique offering — the company allows investors to allocate their money among “slices” that make up a “pie,” or diversified portfolio. It’s a mix of automated and DIY investing that will appeal to a range of investors. M1 also offers other financial services products, including a savings account. Compared to regular savings accounts, money market accounts usually offer higher interest rates.

Brokerage Account Flexibility

If you invest strategically using your brokerage account, you can minimize the taxes you’ll owe. “For some people, the brokerage account may be equally as beneficial as some of the retirement accounts, if managed correctly from a tax standpoint,” Boersen says. One tax strategy available to investors with a brokerage account is called tax-loss harvesting. Under certain conditions, when you sell an investment for less than you paid for it, you may use some of the loss to offset other taxable gains in your portfolio. Schwab is one of the only current brokerages offering a sign-up bonus with a wide selection of low-cost investment options.

Securities and Exchange Commission and FINRA, which means your account is protected by the Securities Investor Protection Corporation (SIPC) with insurance up to $500,000. Some or all of the card offers that appear on the WalletHacks.com are from advertisers and may impact how and where card products appear on the site. WalletHacks.com does not include all card companies or all available card offers. SIPC protects $500,000 per customer, including only up to $250,000 in cash.

There may be a minimum balance required to open an account, some firms may charge management fees and there may be trading commissions to buy or sell certain assets. Just like banks offer bonuses and special extras for new checking and savings accounts, brokerages offer promotional deals for new customers. And if you look for these bonus offers before you open a new brokerage account, you could take advantage of impressive perks like thousands of dollars in bonus cash or free stocks. Moomoo is a commission-free stock and options trading platform that offers advanced trading tools and a slick mobile app for trading on the go.

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You’re limited to one award per person, and must open an individual, joint, business, trust or autotrade-enabled account. Schwab is offering personally referred friends the opportunity to earn up to $1,000 when they use a referral code, given to you by a current Schwab customer, and open an eligible account at Schwab. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate follows a strict
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There is no stated time limit on the bonus, but the terms and conditions can change at any time. TD Ameritrade is currently offering up to $1,000 as a referral bonus if you meet the minimum deposit requirements. Anthony Nguyen, founder of HustlerMoneyBlog.com, has a passion for finding the best deals, bank promotions, credit card offers, cash back, points & miles, and everything in between.

With the recent rush of brokerages offering free trades, the promotion is now just cash – remember to use the promotion code BONUS22. Tastytrade has a new account promotion – open and fund a new Tastytrade account and transfer in funds to get up to $5,000 in cash. This is a great offer if you are looking to open a Tastytrade account and best brokerage account deals an increase from their previous offer. This blog has partnered with CardRatings for our coverage of credit card products. This site and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone and have not been reviewed, endorsed or approved by any of these entities.

A margin account allows you to execute more complex trading strategies, such as short selling, but there are risks to using debt, instead of cash, to invest. For instance, if the value of your investments falls, your brokerage firm may ask you to pay back your margin debt immediately—this is known as a margin call. The firm also has the right to sell any of the investments in your portfolio, without advance notice, to cover an account deficit. Bankrate tracks the best brokerage account bonuses here to help you compare active offers. The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice.