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8 best brokerage account bonuses and promotions for October 2024

If you're on the market for a new online broker, you're in luck. These days, plenty of companies have ongoing brokerage account promotions you can take advantage of to earn free cash. And, with a large enough qualifying deposit, it's possible to earn thousands of dollars from some of the most competitive companies.

This is our list of some of the very best online stock broker promotions running right now.

  • J. P. Morgan Self-Directed Investing – Up to $700
  • E*TRADE - Up to $6,000
  • Merrill Edge – Up to $600
  • Robinhood – Free stock up to $200
  • TradeStation – Up to $3,500
  • Webull – Free stock worth up to $3,000
  • SoFi Invest – Up to $1,000
  • Tastytrade – Up to $5,000

J. P. Morgan Self-Directed Investing – Up to $700

Fast facts
  • Broker bonus: Up to $700
  • Minimum deposit to earn: $5,000
  • Holding period: 90 days

J.P. Morgan Self-Directed Investing is one of our favorite brokers for mutual funds since it doesn't charge commissions, which is hard to find. Plus, it has one of the best broker promotions right now and pays new customers up to $700 for opening and funding a new account. Here's how the promotional tiers work:

You have 45 days to fund your account from opening to receive the bonus. You must maintain the balance for 90 days to remain eligible for the bonus. Note that this stock broker offer is set to expire on Jan. 23, 2025, but has been extended in the past and may be extended again.

Disclosure: Investment and insurance products are: Not a deposit, not FDIC-insured, no bank guarantee and may lose value.

Deposit Amount
J. P. Morgan Bonus
$5,000 to $24,999
$50
$25,000 to $99,999
$150
$100,000 to $249,999
$325
$250,000 or more
$700

E*TRADE - Up to $6,000

Fast facts
  • Broker bonus: Up to $5000
  • Minimum deposit to earn: $50
  • Holding period: 60 days

With up to $1000 in cash up for grabs, E*TRADE has one of the best stock broker promos currently running. All you have to do is open an E*TRADE brokerage or retirement account with a qualifying deposit of $50 or more and use the code OFFER24 when signing up.

The offer is set to expire Jan. 31 2025, but has been extended in the past and is likely to continue in the future.

Deposit Amount
 E*TRADE Bonus
$1,000 to $4,999
$50
$5,000 to $19,999
$150
$20,000 to $49,999
$200
$50,000 to $99,999
$300
$100,000 to $199,999
$600
$200,000 to $499,999
$800
$500,000 to $999,999
$1,000
$1,000,000 to $1,499,999
$3,000
$1,500,000 to $1,999,999
$5,000
$2,000,000 or more
$6,000

Merrill Edge – Up to $600

Fast facts
  • Broker bonus: Up to $600
  • Minimum deposit to earn: $20,000
  • Holding period: 90 days

Merrill Edge is a discount broker from Bank of America that's known for its extensive research offerings and ESG investing options. It also has an excellent stock broker bonus of up to $600 in cash. There are four different promotional tiers ranging from $100 to $600 in cash bonuses:

Deposit Amount
Merrill Edge Bonus
$20,000 to $49,999
$100
$50,000 to $99,999
$150
$100,000 to $199,999
$250
$200,000+
$600

You have 45 days to make your deposit and must hold funds in your account for at least 90 days to receive your cash bonus. Use code 600ME when signing up to qualify.

Robinhood – Free stock up to $200

Fast facts
  • Broker bonus: One free fractional share valued up to $200
  • Minimum deposit to earn: Link your bank account
  • Holding period: 3 days for stock, 30 days for cash value

While it doesn't have the largest stock broker promotion out there, Robinhood is still one of the most beginner-friendly investment apps out there. New customers who link their bank account to Robinhood get a free fractional share that can be anywhere from $5 to $200. There's a 98% chance your share is worth $5 to $10, but if you get lucky, it's a great bonus.

You can also receive this bonus again if you refer eligible new customers to Robinhood. Just note that you have to wait three days to sell your stock and 30 days before withdrawing the cash proceeds from your account.

If you sign up for Robinhood Gold, you are eligible for another ongoing bonus. Gold members get a 1% boost on deposits, though you have to hold the funds in your account for 24 months to receive the full boost amount.

TradeStation – Up to $3,500

Fast facts
  • Broker bonus: Up to $3,500
  • Minimum deposit to earn: $5,000
  • Holding period: Three months

TradeStation offers a compelling cash bonus worth up to $3,500. New customers can get up to $3,500 in cash for opening a new TradeStation account.

Here's how the cash promotion works:

1. Open a new TradeStation account and use promo code TSTVAGFD

2. Fund your account with at least $5,000 in new cash within 45 days of opening

3. Maintain this balance and receive a cash reward between $150 and $3,5000

Deposit Amount
Bonus
$5,000
$150
$25,000
$300
$100,000
$500
$250,000
$1,000
$500,000
$2,000
$1,000,000
$3,500

Webull – Free stock worth up to $3,000

Fast facts
  • Broker bonus: Free stock worth up to $3,000
  • Minimum deposit to earn: Any amount
  • Holding period: None

Once you make a deposit, you’ll can get fractional shares worth up $3 to $3,000. You get 20 fractional shares for an initial deposit of $500 to $24,999 and 74 for a deposit of $25,000 or more.

If you're switching to Webull or want an easy way to start investing with little money, it's a nice broker bonus. Stocks appear in your account roughly 10 business days after you qualify and you can sell them any time you want.

If you’re moving a larger amount to WeBull from another brokerage, you can earn even more.

Transfer Amount
Bonus
$500 to $24,999
20 fractional shares
$25,000+
75 fractional shares

SoFi Invest – Up to $1,000

Fast facts
  • Broker bonus: Up to $1,000
  • Minimum deposit to earn: $25
  • Holding period: None

SoFi is an online-only bank that offers a range of financial services, including its Automated Investing program, Active Investing, a rewards credit card, and a rewards checking and savings account.

If you open a new Active Investing account, you can earn between $5 and $1,000 just for opening the account and funding with at least $25.

tastytrade – Up to $5,000

Fast facts
  • Broker bonus: Up to $5,000
  • Minimum deposit to earn: $2,000
  • Holding period: 12 months

tastytrade is an online brokerage focused on active traders and options trading. Customers can earn up to $5,000 in cash bonuses, depending on the size of their initial investment.

Enter the code ‘MYNEWBONUS’ to ensure you’re able to claim the new deposit bonus. You’ll see your bonus credited within four business days, but you must keep the cash in the account for at least 12 months before you can withdraw.

Deposit amount
Bonus
$2,000 to $4,999
$50
$5,000 to $4,999
$100
$25,000 to $99,999
$500
$100,000 to $249,999
$2,000
$250,000 to $499,999
$3,000
$500,000 to $999,999
$4,000
$500,000 to $999,999
$5,000

The bottom line

The world of online brokers is a competitive one, and companies are willing to pay for new business. So if you're looking for a new broker or are unhappy with your current one, make sure you capitalize on stock broker promotions when signing up somewhere new.

Of course, you should also consider the broker's fees, research offerings, and other features to make sure it has what you're looking for. And, be careful with transfer fees since they can take a healthy chunk out of cash bonuses if you're not careful.

FAQs About the Best Broker Promos for October 2024

  • Should I keep more than $500,000 in a brokerage account?

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    In most cases, no. The Securities Investor Protection Corporation (SIPC) insures up to $500,000 in total assets and $250,000 in cash per customer. If you exceed these limits, your account won’t be fully insured.

    You should also consider your financial goals, investment strategy, need for liquidity and risk tolerance. It may be best to move some of your cash and assets elsewhere.

  • Do stock brokers get bonuses?

    +

    Yes, stock brokers often get bonuses that can be based on performance or retention. Bonuses can make up a significant portion of a broker’s compensation.

  • Does Fidelity give you a bonus for opening an account?

    +

    Yes, Fidelity often offers bonuses and welcome offers for opening a new account with them. Typically, you’d need to fund your new account with a set amount of money in order to qualify for any active bonuses.

  • What is the JP Morgan bonus for 2024?

    +

    J. P. Morgan has been offering up to $700 for funding a new self-directed investing account. You’d need to fund an account with at least $5,000 to qualify for the $50 bonus and at least $250,000 to qualify for the $700 bonus.

Advertiser Disclosure – This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and Moneywise, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. Moneywise is not a member of FINRA or SIPC.

Tom Blake Staff Writer

Tom Blake is a staff writer who specializes in cryptocurrency, investing, and passive income.

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