When you really like a product, you tend to share it with your friends and family, so that they can enjoy it as well. But financial products are somewhat taboo to talk about nowadays. No one wants to be hated for suggesting an investment that goes downhill. But you can’t be faulted for simply showing a friend how to save money, while still receiving the same service.
If you currently have an account with a discount broker, you may be able to earn money while showing your friends how to save on fees. Of course, if you don’t currently like your brokerage account, make sure to tell your broker! If you’re a longstanding client or somewhat active trade, most brokers will try to accommodate your special needs.
The following brokers offer benefits for referring a friend:
Referral Bonus: 30 Free Trades OR $150 Account Credit OR $150 Gift Card
Conditions: Your friend has to open and fund an account within three months of your referral ($1,000 Account Minimum). They also must maintain a balance of at least $1,000 for 6 months. If you refer a family member, they can’t have the same address as you (they must live elsewhere).
Referral Bonus: $50 for You AND $50 for Your Friend
Conditions: Your friend must fund an account with at least $3,000 and make at least 3 trades.
Referral Bonus: 25 Free Trades or $100
Conditions: Your friend simply has to open and fund an account of at least $25,000. They also have to place one trade.
Referral Bonus: 25 Free Trades
Conditions: Your friend simply has to open and fund an account ($500 Account Minimum), and place one online trade. Your free trades must be used within 3 months.