Brokerages are in fierce competition for your investment dollars, offering enticing bonuses that can be added directly to your brokerage account. It’s crucial to stay informed about the top offers so you can make an informed decision about opening a brokerage account and seizing the opportunity to earn risk-free cash.
Bankrate keeps track of the best brokerage account bonuses to help you compare and take advantage of current promotions.
Top Brokerage Account Bonuses in July 2024
- Charles Schwab: $100 to $1,000 (friend referral offer)
- J.P. Morgan Self-Directed Investing: $50 to $700
- M1 Finance: $75 to $500
- Tastytrade: $50 to $5,000
- SoFi Invest: $100 to $10,000
- Merrill Edge: $100 to $600
- E-Trade: $100 to $5,000
Charles Schwab: Earn Up to $1,000
Schwab is offering a referral bonus of up to $1,000 to new clients who open an eligible account using a referral code provided by a current Schwab customer.
To qualify for the bonus, you must:
- Receive a referral code from a friend or family member.
- Be a new Schwab client and make a qualifying net deposit within 45 days of opening an eligible retail brokerage account.
Only one bonus per account and per client is allowed when using a referral code. Schwab retail brokerage accounts and IRAs are eligible for this offer.
Bonus tiers for this offer include:
- $100 bonus for deposits of $25,000-$49,999
- $300 bonus for deposits of $50,000-$99,999
- $500 bonus for deposits of $100,000-$499,999
- $1,000 bonus for deposits of $500,000 or more
Visit Bankrate’s Charles Schwab review for more information.
J.P. Morgan Self-Directed Investing: Up to $700 Bonus
New clients can earn a cash bonus by opening a brokerage or retirement account with a minimum funding requirement and maintaining the new funds for a specified period.
To qualify for the bonus, you must:
- Open a J.P. Morgan Self-Directed Investing account through the official offer page.
- Fund the account with at least $5,000 in cash or securities within 45 days of opening.
Bonus tiers for this offer include:
- $50 bonus for transfers of $5,000-$24,999
- $150 bonus for transfers of $25,000-$99,999
- $325 bonus for transfers of $100,000-$249,999
- $700 bonus for transfers of $250,000 or more
Check out Bankrate’s review of J.P. Morgan Self-Directed Investing for more details.
M1 Finance: Earn Up to $500 Bonus
M1 Finance is offering a cash bonus for new clients who open a retirement or taxable brokerage account and make a qualifying transfer.
To receive the bonus, you must:
- Transfer at least $10,000 from your broker to M1 via ACH transfer.
- Make the transfer within 14 days of opening the account.
Bonus tiers for this offer include:
- $75 bonus for transfers of $10,000-$29,999
- $150 bonus for transfers of $30,000-$49,999
- $250 bonus for transfers of $50,000-$99,999
- $500 bonus for transfers of $100,000 or more
Read Bankrate’s M1 Finance review for more information.
Tastytrade: Get Up to $5,000 Bonus
Tastytrade is rewarding new clients with cash bonuses for funding an account with a minimum deposit requirement.
To qualify for the bonus, you must:
- Open a taxable account and use the referral code “MYNEWBONUS”.
- Fund the account with at least $2,000 in cash or securities.
Bonus tiers for this offer include:
- $50 bonus for transfers of $2,000-$4,999
- $100 bonus for transfers of $5,000-$24,999
- $500 bonus for transfers of $25,000-$99,999
- $2,000 bonus for transfers of $100,000-$249,999
- $3,000 bonus for transfers of $250,000-$499,999
- $4,000 bonus for transfers of $500,000-$999,999
- $5,000 bonus for transfers of $1,000,000 or more
Visit Bankrate’s Tastytrade review for more details.
SoFi Invest: Up to $10,000 Bonus
SoFi Invest is offering a bonus for clients who transfer investments from another brokerage to SoFi.
To qualify for the bonus, you must:
- Have a taxable Invest Active or Active retirement account with SoFi.
- Transfer assets of at least $5,000 from another brokerage via ACATS.
Bonus tiers for this offer include:
- $100 bonus for transfers of $5,000-$24,999
- $200 bonus for transfers of $25,000-$99,999
- $500 bonus for transfers of $100,000-$249,999
- $750 bonus for transfers of $250,000-$499,999
- $1,000 bonus for transfers of $500,000-$999,999
- $2,500 bonus for transfers of $1,000,000-$4,999,999
- $10,000 bonus for transfers of $5,000,000 or more
Check out Bankrate’s SoFi review for more information.
Merrill Edge: Earn Up to $600 Bonus
Merrill Edge is offering a cash bonus for new clients who open an IRA or cash management account and make a qualifying deposit.
To qualify for the bonus, you must:
- Enroll for the offer during the account opening process.
- Deposit net new assets of at least $20,000 into your account within 45 days.
Bonus tiers for this offer include:
- $100 bonus for deposits of $20,000-$49,999
- $150 bonus for deposits of $50,000-$99,999
- $250 bonus for deposits of $100,000-$199,999
- $600 bonus for deposits of $200,000 or more
Visit Bankrate’s Merrill Edge review for more details.
E-Trade: Up to $5,000 Bonus
E-Trade is offering a cash bonus for new clients who open a retirement or brokerage account and fund it within a specified period.
To qualify for the bonus, you must:
- Use promo code REWARD24 when opening the account.
- Deposit or transfer funds from accounts outside of E-Trade.
Bonus tiers for this offer include:
- $100 bonus for deposits of $50-$999
- $150 bonus for deposits of $1,000-$19,999
- $300 bonus for deposits of $20,000-$99,999
- $600 bonus for deposits of $100,000-$199,999
- $800 bonus for deposits of $200,000-$499,999
- $1,000 bonus for deposits of $500,000-$999,999
- $3,000 bonus for deposits of $1 million-$1,499,999
- $5,000 bonus for deposits of $1.5 million or more
Read Bankrate’s E-Trade review for more information.
Choosing the Right Brokerage Account
When selecting a brokerage account, consider factors such as fees, broker resources, and your investment strategy. Look for a platform that offers low fees, robust research tools, and a user-friendly trading app.
Your investment strategy and trading frequency will also play a role in determining the best brokerage account for you. Consider additional features such as customer support when making your decision.