Brokerages are aggressively competing for your money. One way they do so is by offering competitive bonuses that you can add right to your brokerage account. It’s important to know the best offers so that you can decide whether it’s a good time to open a brokerage account and take advantage of what is often risk-free cash.

Here Bankrate tracks the best brokerage account bonuses to help you compare active offers.

Best brokerage account bonuses in March 2023

  • Charles Schwab: $100 to $1,000 (personally referred friend offer)
  • Merrill Edge: $100 to $600
  • Fidelity Investments: $100
  • J.P. Morgan Self-Directed Investing: $50 to $700
  • Tastytrade: $100 to $2,000
  • E-Trade: $50 to $3,500
  • Axos Invest: $250
  • M1 Finance: $250 to $10,000

Charles Schwab: $100, $300, $500 or $1,000 (if you’re referred by a friend)

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.

To receive the bonus award, 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 both becoming a Schwab customer and opening an eligible retail brokerage account.

You’re limited to one per account and only one account per client when you receive a referral.

Schwab retail brokerage accounts and IRAs are eligible for this offer. This includes accounts that are enrolled in Schwab-sponsored investment advisory programs, such as Schwab Intelligent Portfolios, Schwab Managed Portfolios, Schwab Managed Account Select and Connection, as well as Schwab Wealth Advisory.

You’ll receive your bonus approximately a week or two after the 45-day period ends if you made a qualifying deposit when becoming a new Schwab customer and enrolling in the referral offer.

Schwab may charge back its bonus award if taxable accounts aren’t kept at Schwab for at least one year.

Here are the bonus tiers for this offer:

  • To receive a $100 bonus, deposit $25,000-$49,999.
  • To receive a $300 bonus, deposit $50,000-$99,999.
  • To receive a $500 bonus, deposit $100,000-$499,999.
  • To receive a $1,000 bonus, deposit $500,000 or more.

Read Bankrate’s Charles Schwab review to learn more.

Merrill Edge: $100, $150, $250 or $600

When you open a Merrill Edge IRA or cash management account and make a qualifying deposit within 45 days of opening, you can earn up to a $600 bonus. You need to use the offer code 600ME during the account opening. This can be done while applying online or using it when speaking to a Merrill Edge financial advisor on the phone or at select Bank of America branches.

To receive a cash reward, you must:

  • Enroll for the offer at the time of account opening.
  • Deposit net new assets of at least $20,000 into your Merrill Edge account within 45 days of opening the account.
  • Maintain that balance for at least 90 days, excluding any changes due to market volatility.

The offer limits you to one IRA — rollover, traditional, Roth and sole-proprietor SEP only — and one cash management account. Each account holder can’t have more than two enrolled accounts.

Assets from Bank of America, Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S), U.S. Trust, or 401(k) accounts administered by MLPF&S aren’t qualifying net new assets.

You’ll receive your cash reward two weeks after the initial 90-day period, assuming you meet eligibility requirements.

Business/corporate accounts, investment club accounts, partnership accounts and certain types of fiduciary accounts held at Merrill Edge aren’t eligible for this offer. The offer also doesn’t apply to accounts, which include IRAs or CMAs, held with other business units of MLPF&S.

Here are the bonus tiers:

  • To receive the $100 cash reward, deposit $20,000 to $49,999.99.
  • To receive the $150 cash reward, deposit $50,000 to $99,999.99.
  • To receive the $250 cash reward, deposit $100,000 to $199,999.99.
  • To receive the $600 cash reward, deposit $200,000 or more.

Read Bankrate’s Merrill Edge review to learn more.

Fidelity Investments: $100

Fidelity Investments is offering clients $100 for funding an account with at least $50.

To receive the award, you must:

  • Open a Fidelity account (including the Fidelity Starter Pack, the Fidelity Account, a Fidelity Cash Management Account, or an IRA) through the official offer page.
  • Use promo code Fidelity100 when opening the account.
  • Fund the account with at least $50 from a non-Fidelity account within 15 days of opening.

You’re limited to one award per person, and cannot have taken advantage of this offer when it was previously available. Existing customers are also eligible for this bonus.

The cash will be deposited into your account within 25 days of your account being opened. You must maintain the $100 award in the account for at least 90 days after receiving it.

Read Bankrate’s Fidelity review to learn more.

J.P. Morgan Self-Directed Investing: $50, $150, $325 or $700

You can earn a cash bonus if you open a brokerage or retirement (traditional IRA or Roth IRA) account and fund it with $25,000 or more. Your account must be opened by Apr. 13, 2023.

To receive a cash bonus, you must:

  • Open a J.P. Morgan Self-Directed Investing account through the official offer page.
  • Fund the account with at least $10,000 in cash or securities from a non-J.P. Morgan or Chase account within 45 days of opening.
  • Maintain the new funds in the account for at least 90 days. The bonus will be deposited within 15 days.

You can participate in this bonus offer only once in a 12-month period from the last enrollment date.

Here are the cash bonus tiers for this offer:

  • To receive a $50 bonus, transfer $10,000-$24,999.
  • To receive a $150 bonus, transfer $25,000-$99,999.
  • To receive a $325 bonus, transfer $100,000-$249,999.
  • To receive a $700 bonus, transfer $250,000 or more.

Read Bankrate’s review of J.P. Morgan Self-Directed Investing to learn more.

Tastytrade: $100, $500 or $2,000

Tastytrade is offering new clients cash for funding an account with at least $5,000 in cash or assets.

To receive the bonus award, you must:

  • Be a new tastytrade client and open a taxable account and select “TIERED_2023” in the referral code section.
  • Open and fund the account with at least $5,000 by March 31, 2023.

Here are the cash bonus tiers for this offer:

  • To receive a $100 bonus, transfer $5,000-$24,999.
  • To receive a $500 bonus, transfer $25,000-$99,999.
  • To receive a $2,000 bonus, transfer $100,000 or more.

You’re limited to one award per person, and must open either an individual, joint or business account. IRAs and trust accounts are not eligible for this offer.

The cash will be deposited into your account about a week after you make the qualifying deposit. You’ll need to hold your minimum deposit (minus any trading losses) as well as any proceeds from the promotion for at least a year. Otherwise, the broker may charge back your promotion.

Read Bankrate’s tastytrade review to learn more.

E-Trade: $50, $100, $200, $300, $600, $1,200, $2,500 or $3,500 bonus

You can earn a cash bonus if you open a retirement or brokerage account and fund it with $5,000 or more within 60 days of account opening. Your account must be opened by Apr. 18, 2023.

To receive a cash bonus, you must:

  • Use promo code BONUS23 when opening the account.
  • Open your new account with funds or securities from accounts outside of E-Trade. You need to also keep the new account (minus any trading losses) for at least 12 months to keep the cash bonus.

Here are the cash bonus tiers for this offer:

  • To receive a $50 bonus, deposit or transfer $5,000-$19,999.
  • To receive a $100 bonus, deposit or transfer $20,000-$49,999.
  • To receive a $200 bonus, deposit or transfer $50,000-$99,999.
  • To receive a $300 bonus, deposit or transfer $100,000-$199,999.
  • To receive a $600 bonus, deposit or transfer $200,000-$499,999.
  • To receive a $1,200 bonus, deposit or transfer $500,000-$999,999.
  • To receive a $2,500 bonus, deposit or transfer $1 million-$1,499,999.
  • To receive a $3,500 bonus, deposit or transfer $1.5 million or more.

Read Bankrate’s E-Trade review to learn more.

Axos Invest: $250 bonus

You can earn a cash bonus of $250 at Axos Invest if you open a self-directed retirement account or managed portfolio account. Your account must be opened by Mar. 31, 2023 to qualify.

To receive the bonus award, you must:

  • Make direct deposits of at least $2,000 to Axos Invest.
  • Fund your account with money from outside of Axos Invest or Axos Bank.
  • Make any qualifying transfers within 60 days of opening an eligible retail brokerage account.
  • Self-directed accounts must make two trades to qualify.

The bonus will be paid within 10 days following a 90-day waiting period. Fluctuations in the market won’t count against your total balance for this promotion.

If you move assets of $50,000 or more to your account, Axos will also reimburse transfer fees of up to $300.

M1 Finance: $250, $1,000, $2,000, $4,000 or $10,000 bonus

You can earn a cash bonus at M1 Finance if you open a taxable brokerage account. Your account must be opened by March 31, 2023.

To receive the bonus award, you must:

  • Make a direct transfer of at least $50,000 from your broker to M1 via the ACATS transfer system.
  • Open your new account with funds from accounts outside of M1.
  • Make a qualifying transfer by March 31, 2023.
  • Have an individual or joint taxable account to receive the bonus payment.

The bonus will be paid on Dec. 5, 2023. To keep the bonus cash, you’ll need to maintain the new account balance through the payout date.

Here are the bonus tiers for this offer:

  • To receive a $250 bonus, deposit $50,000-$249,999.
  • To receive a $1,000 bonus, deposit $250,000-$499,999.
  • To receive a $2,000 bonus, deposit $500,000-$999,999.
  • To receive a $4,000 bonus, deposit $1 million-$1.999 million.
  • To receive a $10,000 bonus, deposit $2 million or more.