6 Best Brokerage Account Promotions and Bonuses of May 2024
Brokerage firms compete for investor deposits by offering large bonuses and promotions. Here are some of the best brokerage bonuses and promotions right now.
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The competition among brokerage firms is fierce, which spells good news for investors: These companies frequently aim to attract new accounts with generous promotions and bonus offers.
How brokerage bonuses work: Most brokers that offer promotions will do so in exchange for a set deposit amount — the more you're willing to deposit, the greater the promotion available to you. However, there are some brokerage firms that set the bar lower — for example, offering a bonus simply for placing your first trade.
Keep in mind that while most broker bonuses are paid in cash — in the form of a deposit to your newly opened investment account — other brokers pay out untraditional bonuses in the form of stock or even crypto.
Below, we've categorized current brokerage promotions so you can easily find the best options for you. As always, be sure to read the fine print on the brokerage firm's website to ensure you qualify for the offer.
Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating online brokers.
The competition among brokerage firms is fierce, which spells good news for investors: These companies frequently aim to attract new accounts with generous promotions and bonus offers.
How brokerage bonuses work: Most brokers that offer promotions will do so in exchange for a set deposit amount — the more you're willing to deposit, the greater the promotion available to you. However, there are some brokerage firms that set the bar lower — for example, offering a bonus simply for placing your first trade.
Keep in mind that while most broker bonuses are paid in cash — in the form of a deposit to your newly opened investment account — other brokers pay out untraditional bonuses in the form of stock or even crypto.
Below, we've categorized current brokerage promotions so you can easily find the best options for you. As always, be sure to read the fine print on the brokerage firm's website to ensure you qualify for the offer.
Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating online brokers.
Typically, transfers from existing brokerage firms — as well as 401(k) rollovers and IRA transfers — count as a deposit that qualifies for a bonus. But be sure to read the fine print of each offer.
Best Brokerage Account Promotions and Bonuses
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 J.P. Morgan Self-Directed Investing Learn more on J.P. Morgan's website | Best for cash promotions | $0 per trade | $0 | Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money. | Learn more on J.P. Morgan's website |
 Robinhood Learn more on Robinhood's website | Best for free stock promotions | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn more on Robinhood's website |
 Webull Learn more on Webull's website | Best for free stock promotions | $0 per trade | $0 | Get up to 75 free fractional shares (valued up to $3,000) when you open and fund an account with Webull. | Learn more on Webull's website |
 TradeStation Learn more on TradeStation's website | Best for cash promotions | $0 per trade | $500 | Qualify for up to $5,000 when you open and fund a new TradeStation account. Offer Code: NERDAFJO. | Learn more on TradeStation's website |
 SoFi Active Investing Learn more on SoFi Invest's website | Best for free stock promotions | $0 per trade | $0 | Up to $1,000 in free stock for users who sign up via mobile app | Learn more on SoFi Invest's website |
 M1 Finance | Best for cash promotions | $0 | $100 | Get up to $500 in your new Brokerage Account when you sign up and make a deposit within 14 days. Plus, earn up to $10,000 to invest when you transfer your brokerage account to M1 within 30 days of opening an M1 account. | Read review |
Our pick for
cash promotions
The below brokerages offer cash bonuses in exchange for your deposit. Some bonuses are tiered, meaning the more money you deposit, the higher the bonus.
$0
per trade
$0
Get up to $700
when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
Pros
Easy-to-use platform.
$0 commissions.
App connects all Chase accounts.
No account minimum.
Cons
Limited tools and research.
Portfolio Builder tool requires $2,500 balance.
Low interest rate on uninvested cash.
Why We Like It
J.P. Morgan Self-Directed Investing is a clear-cut investment platform that is great for beginners looking to learn how to buy and sell investments. More advanced investors, however, may find it lacking in terms of available assets, tools and research. INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
$0
per trade
$500
Qualify for up to $5,000
when you open and fund a new TradeStation account. Offer Code: NERDAFJO.
Pros
High-quality trading platforms.
Comprehensive research.
Advanced tools.
Active trader community.
Cons
No transaction-fee-free mutual funds.
Plans and pricing can be confusing.
Low interest rate on uninvested cash.
Why We Like It
TradeStation is a strong choice for active stock, options and futures investors who rely on the broker’s high-octane trading platform, reams of research and sophisticated analytical tools. Trades of up to 10,000 shares are commission-free.
Our pick for
free stock promotions
These brokerage firm promotions offer free stock when signing up for an account. As with cash promotions, the bonus you receive may depend on the amount you deposit.
$0
per trade
$0
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
No account minimum.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match.
High interest rate on uninvested cash.
Cons
No mutual funds or individual bonds.
Limited customer support.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. Mutual funds and bonds aren't offered, and only taxable investment accounts are available. Still, if you're looking to limit costs or trade crypto, Robinhood is a solid choice.
$0
per trade
$0
Get up to 75 free fractional shares (valued up to $3,000)
when you open and fund an account with Webull.
Pros
Low costs.
Easy-to-use platform.
Advanced tools.
Access to cryptocurrency.
High interest rate on uninvested cash.
High order execution quality.
Cons
No mutual funds.
Thin educational support.
Why We Like It
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to a few common asset classes.
$0
per trade
$0
Up to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock, ETF and options trades.
Fractional shares available.
Free financial counseling.
IPO access.
No account minimum.
Cons
Low interest rate on uninvested cash.
Why We Like It
SoFi Active Investing's $0 trading commission, fractional shares and $1 account minimum are attractive to new investors. More advanced investors will appreciate the company's wide mutual fund selection and IPO access.
Want to compare more options? Here are our other top picks:
More about these promotions
Robinhood promotion
1 Free Stock after linking your bank account (stock value range $5.00-$200).
Robinhood's sign-up bonus offers free stock that can range in value. The company is known for its free stock, options, ETF and cryptocurrency trades, and also offers a 1% match on IRA account contributions, which isn't typical at other brokers.
Webull promotion
Get up to 75 free fractional shares (valued up to $3,000) when you open and fund an account with Webull.
Like Robinhood, Webull issues its sign-up bonus in the form of free stock shares. Webull has some of the lowest fees of all the brokers we review, and typically appeals most to mobile-first investors. But it also offers impressive tools for active trading.
SoFi promotion
Up to $1,000 in free stock for users who sign up via mobile app.
SoFi is appealing to new or beginner investors, thanks to its user-friendly platform and range of products, including banking accounts and educational seminars. It also offers access to IPOs.
M1 Finance promotion
Get up to $500 in your new Brokerage Account when you sign up and make a deposit within 14 days. Plus, earn up to $10,000 to invest when you transfer your brokerage account to M1 within 30 days of opening an M1 account.
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.
TradeStation promotion
Qualify for up to $5,000 when you open and fund a new TradeStation account. Offer Code: NERDAFJO.
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.
J.P. Morgan Self-Directed Investing promotion
Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
J.P. Morgan's active investing offering is a clean, approachable platform that will appeal to beginner investors and existing Chase customers. The app seamlessly connects all of your Chase accounts.
More resources for opening a new brokerage account
How to manage multiple brokerage accounts (and why you might want to).
Last updated on March 29, 2024
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
To recap our selections...
NerdWallet's Best Brokerage Account Promotions and Bonuses of May 2024
- J.P. Morgan Self-Directed Investing: Best for cash promotions
- Robinhood: Best for free stock promotions
- Webull: Best for free stock promotions
- TradeStation: Best for cash promotions
- SoFi Active Investing: Best for free stock promotions
- M1 Finance: Best for cash promotions
