Best Brokerage Bonuses: Stock & Cash Promotions
Brokerage firms compete for investor deposits by offering large bonuses and promotions. Here are some of the best brokerage bonuses and promotions right now, with the fine print expained.
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Why trust NerdWallet
Several brokerages offer promotions for opening a new account. The best brokerage account bonus, and the most realistic one for most investors, is from Public, where you can get $150 for a $5,000 deposit. That being said, the best bonus available to you will depend on how much money you have to deposit and how long you have to let your money sit. Check out our full comparison table below.
Some brokerages offer stock bonuses instead of cash. For the most part, it's a much better choice to go for a cash bonus than a stock bonus. The exception is Webull, which could offer $225 worth of stock with a $25,000 deposit. That is a comparable value to what some brokers are offering as a cash bonus.
However, it's worth noting that with promos, it's likely the company advertises the highest potential reward, but the reality is there's a very small chance you'll actually you'll get that amount. For example, when brokers offer stock bonuses, they provide a high and low range for the dollar amount in stocks you might receive, but most of those promos state that there is a less than 1% chance of receiving the highest dollar value.
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.
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 trust NerdWallet
Several brokerages offer promotions for opening a new account. The best brokerage account bonus, and the most realistic one for most investors, is from Public, where you can get $150 for a $5,000 deposit. That being said, the best bonus available to you will depend on how much money you have to deposit and how long you have to let your money sit. Check out our full comparison table below.
Some brokerages offer stock bonuses instead of cash. For the most part, it's a much better choice to go for a cash bonus than a stock bonus. The exception is Webull, which could offer $225 worth of stock with a $25,000 deposit. That is a comparable value to what some brokers are offering as a cash bonus.
However, it's worth noting that with promos, it's likely the company advertises the highest potential reward, but the reality is there's a very small chance you'll actually you'll get that amount. For example, when brokers offer stock bonuses, they provide a high and low range for the dollar amount in stocks you might receive, but most of those promos state that there is a less than 1% chance of receiving the highest dollar value.
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.
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.
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 Bonuses: Stock & Cash Promotions
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 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 |
 Public Learn more on Public's website | Best for cash promotions | $0 | $0 | Earn up to $10,000 when you transfer your investment portfolio to Public. | Learn more on Public's website |
 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 |
 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 |
 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 |
 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
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
Commission-free stock, options and ETF trades.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match.
High interest rate on uninvested cash.
Cons
No mutual funds.
Limited customer support.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades (but no bonds or mutual funds), and its account minimum is $0, too. Robinhood Gold offers a high interest rate on uninvested cash and low margin rates.
$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
Commission-free stock, options and ETF trades.
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. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to bonds and mutual funds.
$0
per trade
$0
Up to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock, options and ETF trades.
Free financial counseling.
IPO access.
Cons
Low interest rate on uninvested cash.
Why We Like It
SoFi Active Investing's $0 trading commission, free access to financial advisors, 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.
Our pick for
cash promotions
$0
$0
Earn up to $10,000
when you transfer your investment portfolio to Public.
Pros
Commission-free stock, options and ETF trades.
Rebates for trading options.
Impressive selection of alternative assets.
Easy-to-use signup and trading interface.
High interest rate on uninvested cash.
Cons
No mutual funds.
No margin trading.
Lack of tools (e.g. customizable investment screeners).
No IRA accounts.
Why We Like It
Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto, alternative assets and bonds, as well as a high-yield savings account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.
$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
Commission-free stock, options and ETF trades.
Easy-to-use platform.
App connects all Chase accounts.
In-person customer support at Chase branches.
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
Commission-free stock, options and ETF trades.
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 high-octane trading platforms, reams of research and sophisticated analytical tools. Trades are commission-free.
Want to compare more options? Here are our other top picks:
Brokerage account bonus details
The best bonus for you will depend on how much you have to deposit. For example, if you have $500, you're best off with TradeStation because you'll earn $50. But if you have $5,000 you'll earn $150 with Public — and Public will pay for any transfer fees from your old brokerage. And while you're almost never better off taking stock over cash with these offers, Webull has a compelling one.
You'll also want to pay attention to how long you have to maintain the deposit amount — some companies require you to keep that balance up for a year or you'll risk losing your bonus.
Company | Promotion amount | Terms | Cash reward on $10,000 deposit |
|---|---|---|---|
Cash rewards | |||
$5k: $150 $25k: $250 $100k: $600 $250k: $1,000 $500k: $2,000 $1 mill: $4,000 $5 mill+: $10,000 | Must maintain funds and bonus for 12 months. Payout date: One month. If current brokerage charges outgoing transfer fees, Public will cover them if your account value exceeds $500. | $150 | |
$25k: $150 $100k: $325 $250k+: $700 | Deposit within 45 days. Maintain funds for 90 days. | $0 | |
$500: $50 $25k: $250 $100k: $400 $200k: $800 $1 mill: $3,000 $2 mill+: $5,000 | Deposit within 45 days. Payout date: ~10 months. | $50 | |
$10k: $75 $30k: $150 $50k: $250 $100k: $500 | Deposit within 14 days. Payout date: Six months. | $75 | |
Stock rewards | Probable value of stock reward | ||
1 stock ranging in value from $2.50 to $200. The probability of receiving stock worth $2.50 to $10 is 98%. | You can sell stock after 2 trading days. | $2.50 to $10 | |
$500: 20 fractional shares $25k+: 75 fractional shares Shares can range in value from $3 to $3,000. The probability of receiving stock worth $3 is 92%. | Maintain deposit for 30 days. | $60 with lower desposit, $225 with higher deposit | |
Deposit at least $25, get up to $1,000 worth of stock. The probability of receiving stock worth $5 is 85%. | Deposit money within 30 days of opening the account. | $5 | |
Data is current as of July 22, 2024. | |||
And while a cash or stock bonus is a nice perk, it may be worth looking more carefully at the other aspects of a brokerage before committing. Customer service hours and access (can I call and talk with a person on the weekend?), asset availability (do they have crypto?) and account types (wait, you can't invest through a Roth IRA at this brokerage?) are all important things to consider.
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.
Public.com promotion
Earn up to $10,000 when you transfer your investment portfolio to Public.
Public offers some unique features, including a rebate on options trades and access to alternative assets like shares of artworks and royalties.
More resources for opening a new brokerage account
How to manage multiple brokerage accounts (and why you might want to).
Last updated on July 23, 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 Bonuses: Stock & Cash Promotions
- Robinhood: Best for free stock promotions
- Webull: Best for free stock promotions
- Public: Best for cash promotions
- J.P. Morgan Self-Directed Investing: Best for cash promotions
- SoFi Active Investing: Best for free stock promotions
- TradeStation: Best for cash promotions
- M1 Finance: Best for cash promotions
