Best Brokerage Account Bonuses for July 2024

3 minute read

By Robert Johnson

Brokerages are actively vying for investors’ attention by offering competitive bonuses that can be directly deposited into your brokerage account. It’s crucial to stay informed about the latest offers to assess whether it’s advantageous to open a new account and capitalize on these potentially risk-free funds. Bankrate provides an updated list of the top brokerage account bonuses for easy comparison of current offers.

Schwab offers a referral program where personally referred friends can earn up to $1,000 by using a referral code from a current Schwab customer and opening an eligible account.

To qualify for the bonus:

Eligible accounts include Schwab retail brokerage accounts and IRAs, including those enrolled in Schwab-sponsored investment advisory programs like Schwab Intelligent Portfolios and others.

You’ll receive your bonus approximately one to two weeks after the 45-day period ends, provided you made the qualifying deposit as a new Schwab customer under the referral offer.

Schwab reserves the right to charge back the bonus if taxable accounts are not maintained at Schwab for at least one year.

Bonus tiers for this offer:

You can earn a cash bonus by opening a brokerage or retirement account (traditional IRA or Roth IRA) and funding it with $10,000 or more. Your account must be opened by July 19, 2024, to qualify.

To qualify for the cash bonus:

You can participate in this bonus offer once in a 12-month period from your last enrollment date.

Here are the cash bonus tiers for this offer:

You can earn a cash bonus at M1 Finance by opening a retirement account or taxable brokerage account. Your account must be opened by December 31, 2024, to qualify.

To qualify for the bonus:

Here are the bonus tiers for this offer:

Tastytrade is offering new clients cash bonuses for funding an account with at least $2,000 in cash or securities.

To qualify for the bonus:

Here are the cash bonus tiers for this offer:

You can receive only one award per person, and eligible accounts include individual, joint, business, trust, or autotrade-enabled accounts. IRAs are not eligible for this promotion.

The cash bonus will be deposited into your account approximately one week after making the qualifying deposit. To retain the bonus, you must maintain your minimum deposit (minus any trading losses) and any proceeds from the promotion for at least one year. Failure to do so may result in the broker reclaiming the promotion amount.

SoFi Invest is currently offering bonuses to customers who transfer investments from another brokerage to SoFi.

To qualify for the bonus:

Here are the bonus tiers for this offer:

Bonuses are based on the amount transferred in a single transaction and require the assets to remain in your SoFi account for 180 days. The bonus will be deposited within 14 days after the end of the month in which the transfer is completed to SoFi.

Please note, SoFi does not accept transfers of mutual funds, cryptocurrency, OTC and pink sheet stocks, and other low-priced stocks. Additionally, if you transfer more than $5,000 in assets through ACATS, SoFi will reimburse you up to $75 for fees incurred from your outgoing brokerage.

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. To participate, use the offer code 600ME during the account opening process online or when speaking to a Merrill Edge financial adviser over the phone or at select Bank of America branches.

To qualify for the cash reward:

The offer is limited to one IRA—rollover, traditional, Roth, and sole-proprietor SEP only—and one cash management account per account holder. Each account holder cannot 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 do not qualify as net new assets.

You will receive your cash reward approximately two weeks after the initial 90-day period, assuming you meet all eligibility requirements.

Business/corporate accounts, investment club accounts, partnership accounts, and certain types of fiduciary accounts held at Merrill Edge are not eligible for this offer. The offer also does not apply to accounts, including IRAs or CMAs, held with other business units of MLPF&S.

Here are the bonus tiers:

You can earn a cash bonus by opening a retirement or brokerage account and funding it with $50 or more within 60 days of account opening. This offer is valid for accounts opened by July 31, 2024.

To qualify for the cash bonus:

Here are the cash bonus tiers for this offer:

The top online platforms for stock trading provide investor-friendly features and reasonable fees that traders find justifiable. When selecting the best brokerage account for your needs, consider the following aspects:

If additional features such as customer support are crucial to you, ensure they are also taken into account when making your decision.

Contributor

Robert Johnson is a passionate writer with a keen eye for uncovering emerging trends and thought-provoking discussions. With a background in journalism and digital media, she has spent years crafting compelling content that informs and engages readers. Her expertise spans a variety of topics, from culture and technology to business and social movements, always delivering insightful perspectives with clarity and depth. When she's not writing, Tessa enjoys exploring new coffee shops, reading historical fiction, and hiking scenic trails in search of inspiration.