Best brokerage account bonuses in January 2022

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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 January 2022

  • Charles Schwab: $100 to $1,000 (personally referred friend offer)
  • Ally Invest: $100 to $3,000
  • M1 Finance: $30 to $500
  • eToro: $50 (personally referred friend offer)
  • Merrill Edge: $100 to $600
  • TradeStation: $50 to $5,000

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 Private Client.

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.

Ally Invest: $100, $250, $300, $600, $1,200, $2,000 or $3,000 bonus

New Ally Invest clients can earn up to a $3,000 cash bonus if they open a new account by June 30, 2022. The qualifying deposit must contain funds from outside of Ally Financial, and a person can only get the offer on one new Ally Invest Securities LLC account. As an extra incentive, Ally will credit your transfer fees from another brokerage, up to $150 as long as you bring at least $2,500 over to the new account.

Ally Invest checks your deposit 60 days after your account is opened to determine the total qualifying deposit. You’ll receive your cash bonus within 10 business days after this review.

To receive a cash bonus, you must:

  • Deposit at least $10,000 in a new Ally Invest account.
  • Be a U.S. resident.
  • Not be an existing Ally Invest account holder or a former Ally Invest account holder (which includes former TradeKing Securities LLC account holders). You’re not eligible to receive the cash bonus if you closed one of these Ally Invest accounts within the past 90 days.

You must use the “Open Account” button associated with this offer on Ally Invest’s site for opening your account to be eligible for this offer.

Here are the bonus tiers for this offer:

  • To receive the $100 bonus, deposit or transfer $10,000-$24,999.
  • To receive the $250 bonus, deposit or transfer $25,000-$99,999.
  • To receive the $300 bonus, deposit or transfer $100,000-$249.999.
  • To receive the $600 bonus, deposit or transfer $250,000-$499,999.
  • To receive the $1,200 bonus, deposit or transfer $500,000-$999,999.
  • To receive the $2,000 bonus, deposit or transfer $1 million -$1,999,999.
  • To receive the $3,000 bonus, deposit or transfer $2 million or more.

Once you receive your bonus, both the cash bonus and your qualifying deposit (minus any trading losses that are incurred) can’t be withdrawn for 300 days. A withdrawal may cause Ally Invest to revoke your bonus.

Read Bankrate’s Ally Invest review to learn more.

M1 Finance: $30, $75, $150, $300 or $500 bonus

You can earn a cash bonus at M1 Finance if you open a retirement account or taxable brokerage account. Your account must be opened by March 31, 2022.

To receive the bonus award, you must:

  • Make a direct transfer of at least $1,000 from your broker to M1 via the ACH transfer system.
  • Open your new account with funds from accounts outside of M1.
  • Make a qualifying transfer within 14 days of opening an eligible retail brokerage account.
  • Have an individual or joint taxable account to receive the bonus payment.

The bonus will be paid on August 1, 2022. 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 $30 bonus, deposit $1,000-$4,999.
  • To receive a $75 bonus, deposit $5,000-$9,999.
  • To receive a $150 bonus, deposit $10,000-$29,999.
  • To receive a $300 bonus, deposit $30,000-$49,999.
  • To receive a $500 bonus, deposit $50,000 or more.

eToro: $50 bonus (for qualifying friend referrals)

You and a friend can both earn a $50 bonus at eToro if you refer a friend who signs up for the broker.

To receive the bonus award, you must:

  • Log into your eToro account.
  • Copy your referral link for the promotion or a share button.
  • Send the link to your friends and family.
  • Make (or have made) a trade totaling at least $100 in the first 30 days of account opening.

Your referral must be a new customer who has not registered with one of eToro’s apps before. Your referral must sign up within 30 days of first clicking the bonus link.

To receive this award, both you and your referral must live in one of the eligible states or territories. And within 30 days of registering with eToro, both you and your referral must make a first-time deposit into an eToro account and make a trade totaling at least $100.

A referred friend can receive this promotion once, while a referrer can receive it up to 10 times. Those receiving a reward should not attempt to withdraw the reward within 30 days of receiving it.

Read Bankrate’s eToro review to learn more.

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

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 adviser 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.

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.

TradeStation: $50, $200, $300, $600, $1,200, $2,500, $3,500 or $5,000 bonus

When you open a TradeStation account and make a qualifying deposit within 45 days of account opening, you can earn up to a $5,000 bonus. You’ll need to use the promo code CASHAFRV when opening your account.

To receive a cash award, you must:

  • Open a non-institutional account, including an individual or joint taxable account or an IRA.
  • Enter the promo code for the bonus offer.
  • Deposit new assets (either cash or securities) worth at least $5,000 in the first 45 days of account opening.
  • Maintain that balance for at least 270 calendar days.

Your bonus will be deposited in the account the month following the completion of the 270-day period.

Here are the bonus tiers:

  • To receive the $50 cash reward, deposit $5,000 to $24,999.
  • To receive the $200 cash reward, deposit $25,000 to $99,999.
  • To receive the $300 cash reward, deposit $100,000 to $199,999.
  • To receive the $600 cash reward, deposit $200,000 to $499,999.
  • To receive the $1,200 cash reward, deposit $500,000 to $999,999.
  • To receive the $2,500 cash reward, deposit $1,000,000 to $1,999,999.
  • To receive the $3,500 cash reward, deposit $2,000,000 to $4,999,999.
  • To receive the $5,000 cash reward, deposit $5,000,000 or more.

Read Bankrate’s TradeStation review to learn more.

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