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Our December 2024 Picks: Best Broker Bonuses

Review Updated
Emma Newbery
Ashley Maready
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

The stock market is one of the best places to put your money to work for you for the long run. To invest in a diversified stock and bond portfolio, you will need a brokerage or retirement investment account. There are many different brokers out there with a range of products, services, and fees. Some also offer competitive bonuses and rewards to attract new clients.

We've researched the industry to find the best broker bonuses and help you choose the right one for you. Bonuses may change without notice, so check back here frequently for the latest rewards and promotions.

  • Our team of experts assessed 45+ trading platforms
  • We evaluate all brokerage accounts across the same 4 key criteria: user experience, cost efficiency, product variety, and support and security
  • Our brokerage ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Our 9 Best Brokerage Bonuses of 2024

Broker/Advisor Best For Commissions Learn More
SoFi Active Investing Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Intro bonus for deposits of as little as $25⁷

Commission:

$0 for stocks,¹ $0 for options contracts⁴

Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Award Icon 2025 Award Winner
Robinhood Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

1% IRA match

Commission:

$0 for stocks, ETFs, and options; up to $5 monthly for Robinhood Gold

Award Icon 2025 Award Winner
E*TRADE Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Intro bonus for deposits of $1,000 and above

Commission:

Commission-free; other fees apply

Learn More for E*TRADE

On E*TRADE's Secure Website.

Tastytrade Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Intro bonus even for smaller deposits

Commission:

$0 for stocks, $1 per option contract (opening trades only), $0 per crypto purchase and sale

Learn More for Tastytrade

On Tastytrade's Secure Website.

J.P. Morgan Self-Directed Investing Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Intro bonus for deposits of $5,000 and above

Commission:

$0 per trade

Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

TradeStation Offer Image
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Intro bonus for deposits of $5,000 and above

Commission:

$0 stock trades

Learn More for TradeStation

On TradeStation's Secure Website.

Moomoo Offer Image
Rating image, 3.5 out of 5 stars.
3.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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3.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Free stocks for deposits of $100 and above

Commission:

$0 for stocks, ETFs, and options

Learn More for Moomoo

On Moomoo's Secure Website.

Charles Schwab Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Up to $1,000 in referral bonus

Commission:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

Merrill Edge® Self-Directed Offer Image
Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Best For:

Intro bonus for deposits of $20,000 and above

Commission:

$0 for online stock and ETF trades

Which broker bonus is right for me?

There's no single best broker bonus out there. However, here are the top broker bonuses for different investment sizes.

Best brokers if you have less than $100 to deposit

  • SoFi Invest®: You can participate in SoFi Invest's lucky stock dip with a deposit of as little as $25.⁷
  • Schwab Starter Kit: Deposit $50 to receive $101 that you can use to buy five fractional shares.
  • Moomoo: You can get five free stocks worth between $2 and $2,000 each if you deposit at least $100 with MooMoo. Deposit $1,000 or more to get 15 free stocks.
  • Robinhood: Receive $5 to $200 to spend on your first share or fractional share when you connect your bank account or debit card.

Best brokers if you have around $5,000 to deposit

Best brokers if you have around $25,000 to deposit

  • Tastytrade: Deposits of over $25,000 qualify for a $500 bonus.
  • E*TRADE: Deposits of over $20,000 qualify for a $200 bonus.
  • TradeStation: Deposits of over $25,000 qualify for a $300 bonus.
  • Moomoo: Transfers from certain brokerages of up to $20,000 could qualify for a 1.5% match. That's a maximum bonus of $300.
  • SoFi Invest®: Deposits of over $25,000 qualify for a $200 bonus.⁹
  • J.P. Morgan Self-Directed Investing: Deposits of over $25,000 qualify for a $150 bonus.
  • Charles Schwab: Deposits of over $25,000 qualify for a $100 bonus.

Best brokers if you have $1 million or more to deposit

Best brokers for IRA transfers:

  • Robinhood: Robinhood's 1% individual retirement account (IRA) match means your bonus depends on how much you transfer. There is no limit on how much you can earn.
  • SoFi Invest®: IRA rollovers and contributions receive a 1% match.⁸

Details of the best brokerage promotions

To qualify for the best brokerage sign-up bonuses, you'll usually need to be a new customer and make a minimum deposit. But bonuses aren't the only factor to consider when choosing a stock broker. Check out our guide for how to choose the right brokerage firm to learn more about finding an investment account that suits your needs.

SoFi Invest®: Chance to win $5 to $1,000 in stocks

SoFi Active Investing
Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

SoFi has built a robust and valuable ecosystem to help manage your money in one place. SoFi Invest® enhances that ecosystem with $0 stock commissions¹ and low account minimums.

Fees:

$0 for stocks,¹ $0 for options contracts⁴

Account Minimum:

$0

Special Offer Circle with letter I in it. For new accounts: Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%.

Get up to $1,000 in stock when you fund a new Active Invest account.⁷

Learn More for SoFi Active Investing

On SoFi Active Investing's Secure Website.

The SoFi Invest® bonus might appeal to anyone with a small amount to invest, as you only need $25 to take part. It works along the same lines as an arcade claw machine, though all customers will win something. New customers can participate in an electronic lucky dip to win one of the following offers:

  • $5 (85.5% odds)
  • $10 (9.5% odds)
  • $25 (3.3% odds)
  • $100 (1.7% odds)
  • $1,000 (0.03% odds)

You then convert the prize into fractional shares of your choice.

If you're considering moving your retirement money to a new brokerage, SoFi Invest® has another interesting welcome bonus. When you move funds into SoFi Invest® Active retirement accounts (Traditional, Roth, or SEP IRA), you can earn a 1% match.⁸

SoFi Invest® stands out for its top-notch mobile app, commission-free stock and options trading, and low account minimum.

Check out our SoFi Invest® promotions page for more.

Robinhood: 1% IRA match

Ratings Methodology
Award Icon 2025 Award Winner

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Robinhood continues to lead the way in making investing more accessible. Plus, the investing pioneer's IRA match stands out, especially if you use Robinhood Gold.

Fees:

$0 for stocks, ETFs, and options; up to $5 monthly for Robinhood Gold

Account Minimum:

$0

Robinhood will give new customers between $5 and $200 to spend on their first stock or fractional share when they link a bank account or debit card. Around 99% of people will receive $5, 0.9% will receive $10, and 0.1% will receive the maximum of $200. You'll be able to choose from a list of 26 top stocks and you'll have 60 days to claim your reward.

It's also worth considering Robinhood's IRA match. Especially as many of the offers on this page don't apply to retirement accounts. If you transfer an IRA to Robinhood, you'll get 1% back on the amount you move.

Check out our Robinhood promotions page for more.

E*TRADE: Bonus of $50 to $6,000

E*TRADE
Learn More for E*TRADE

On E*TRADE's Secure Website.

Ratings Methodology
Award Icon 2025 Award Winner

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

E*TRADE has something for everyone with its mix of trading platforms. In terms of sign-up bonuses, the broker rewards both new and existing customers who are ready to deposit funds or securities.

Fees:

Commission-free; other fees apply

Account Minimum:

$0

Special Offer Circle with letter I in it. Open a new eligible E*TRADE brokerage account, fund your account within 60 days of opening, and earn a cash bonus of up to $1,000, depending on the size of your deposit. Offer good for one use per customer, on a single account.

Open and fund and get up to $1,000

Learn More for E*TRADE

On E*TRADE's Secure Website.

The popular low-cost broker E*TRADE has two offers -- one for new customers and another for existing ones who open a new account. Both offers are valid until Jan. 31, 2025.

If you're new to E*TRADE and use the promo code OFFER24 when you open one of its non-retirement brokerage accounts, you could qualify. You need to deposit money or securities within 60 days of account opening.

  • $1,000 to $4,999: $50 bonus
  • $5,000 to $19,999: $150 bonus
  • $20,000 to $49,999: $200 bonus
  • $50,000 to $99,999: $300 bonus
  • $100,000 to $199,999: $600 bonus
  • $200,000 to $499,999: $800 bonus
  • $500,000 to $999,999: $1,000 bonus
  • $1,000,000 to $1,499,999: $3,000 bonus
  • $1,500,000 to $1,999,999: $5,000 bonus
  • $2,000,000 and above: $6,000 bonus

If you already have an E*TRADE account and open a new one, you need to deposit at least $1,000 in funds and securities across your accounts to qualify. You can earn between $50 and $800 in bonuses, depending on how much you deposit and where you put the money.

Check out our E*TRADE promotions page for more.

Tastytrade: Cash bonus of $50 to $5,000

Tastytrade
Learn More for Tastytrade

On Tastytrade's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

A solid pick for options and futures investors wanting both a high-quality trading platform and cheap commissions under one roof. What's more, Tastytrade's mobile app simplifies on-the-go options trading.

Fees:

$0 for stocks, $1 per option contract (opening trades only), $0 per crypto purchase and sale

Account Minimum:

$0

Learn More for Tastytrade

On Tastytrade's Secure Website.

Tastytrade, the trading platform that stands out for its options trading, is offering new customers as much as $5,000 when they sign up. To qualify, you'll need to deposit at least $2,000 in cash or by account transfer and enter MYNEWBONUS in the referral code field when you open an account. You won't be able to withdraw your funds for a year if you want that tasty bonus. The offer is valid until Dec. 31, 2024.

  • $2,000 to $4,999: $50 bonus
  • $5,000 to $24,999: $100 bonus
  • $25,000 to $99,999: $500 bonus
  • $100,000 to $249,999: $2,000 bonus
  • $250,000 to $499,999: $3,000 bonus
  • $500,000 to $999,999: $4,000 bonus
  • $1,000,000 and above: $5,000 bonus

J.P. Morgan Self-Directed Investing: $50 to $700 in cash bonus

J.P. Morgan Self-Directed Investing
Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

To go with no minimum balance and industry-standard commission-free trades, its lack of commissions on mutual funds makes this a smart choice for some investors.

Fees:

$0 per trade

Account Minimum:

$0

Special Offer

Earn a bonus up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account (retirement or general) with qualifying new money by 01/23/2025.

Learn More for J.P. Morgan Self-Directed Investing

On J.P. Morgan Self-Directed Investing's Secure Website.

You'll need to open a new J.P. Morgan Self-Directed Investing account from the offer launch page. Next, deposit money, transfer securities, or roll over assets within 45 days, and keep them there for at least 90 days to qualify for this bonus offer. Offer expires Jan. 23, 2025. The bonus amount depends on how much you deposit:

  • $5,000 to $24,999: $50 bonus
  • $25,000 to $99,999: $150 bonus
  • $100,000 to $249,999: $325 bonus
  • $250,000 and above: $700 bonus

The offer does not apply to J.P Morgan's robo-advisor account. J.P. Morgan Self-Directed Investing offers commission-free stock, mutual fund, and ETF trading.

Check out our J.P. Morgan Investing promotions page for more.

TradeStation: Bonus of $150 to $3,500

TradeStation
Learn More for TradeStation

On TradeStation's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

This low-cost platform has low commissions on a wide mix of investment options. Plus, if you're looking for a new brokerage, it offers competitive bonuses for many types of investors.

Fees:

$0 stock trades

Account Minimum:

$0

Special Offer

New accounts with qualifying assets earn $50 to $5,000 using code FOOLAFYJ

Learn More for TradeStation

On TradeStation's Secure Website.

If you open a non-retirement account with TradeStation and deposit more than $5,000 in cash or securities within 45 days, you could qualify for a welcome bonus. You'll need to use the promo code TSTVAGFD and leave the assets with TradeStation for 270 days, after which your reward will be deposited into your account.

  • $5,000 to $24,999: $150
  • $25,000 to $99,999: $300
  • $100,000 to $249,999: $500
  • $250,000 to $499,999: $1,000
  • $500,000 to $999,000: $2,000
  • $1,000,000 and above: $3,500

Check out our TradeStation promotions page for more.

Moomoo: 5 to 15 free stocks

Moomoo
Learn More for Moomoo

On Moomoo's Secure Website.

Ratings Methodology

Our Rating:

Rating image, 3.5 out of 5 stars.
3.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Moomoo offers an impressive suite of tools for professional-grade active investing and day trading. But this brokerage also keeps its fees low, with no commissions and low rates on margin loans. If this sounds good to you, open an account today to take advantage of its new client promotions.

Fees:

$0 for stocks, ETFs, and options

Account Minimum:

$0

Learn More for Moomoo

On Moomoo's Secure Website.

Moomoo has a three-pronged welcome offer for new customers that runs until March 31, 2025. It will pay a special APY of 8.10% on uninvested cash for three months after account opening. That's its cash sweep base rate APY of 4.35%, plus a three month extra boost of 3.75%.

On top of this, new clients who deposit at least $100 can win free stocks worth between $2 and $2,000 each. Make a qualifying deposit and maintain a balance of $100 or more for 60 days to win five free stocks, or $1,000 for 10 free stocks (15 in total).

Finally, transfers of stocks and options worth up to $20,000 from certain brokerages are eligible for a 1.5% match. Read the fine print to make sure your transfer will qualify.

Charles Schwab: Up to $1,000 referral bonus

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Bottom Line

Charles Schwab pioneered the low-cost brokerage model decades ago, and that legacy continues with its mix of no-commission-fee offerings. The robust lineup of account types and investment vehicles and the high-quality app round out the stacked feature set.

Fees:

$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.

Account Minimum:

$0

There are two ways to earn welcome rewards with Charles Schwab right now.

1. Schwab Referral Offer

Referred friends and family of Charles Schwab clients can earn a Bonus Award for becoming a new Charles Schwab client and making a qualifying net deposit. There's a limit of one cash bonus per account and only one account per client with the referral. New investors using the referral offer can receive up to $1,000 in bonus cash as long as they meet the tiered deposit requirements.

  • $25,000 to $49,999: $100 bonus
  • $50,000 to $99,999: $300 bonus
  • $100,000 to $499,999: $500 bonus
  • $500,000 and above: $1,000 bonus

2. Schwab Starter Kit

Referrals aren't the only way you can earn a welcome bonus with Schwab. The Schwab Starter Kit™ will give new investors $101 to buy five fractional shares as well as access to its introductory investing videos. To qualify, you need to deposit at least $50 within 30 days of opening a new taxable retail brokerage account.

Check out our Charles Schwab promotions page for more.

Merrill Edge® Self-Directed: $100 to $600 in cash bonus

Ratings Methodology

Our Rating:

Rating image, 4.5 out of 5 stars.
4.5/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
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Bottom Line

Merrill Edge® Self-Directed is a standout brokerage with $0 online stock and ETF trades, strong research offerings, and excellent customer support. Owned by Bank of America, you can also get access to its fantastic Preferred Rewards program.

Fees:

$0 for online stock and ETF trades

Account Minimum:

$0

Use the offer code 600ME to receive an introductory bonus when you open a Merrill Edge® Self-Directed account with at least $20,000. You'll need to deposit qualifying assets within 45 days of account opening and keep them there for at least 90 days to qualify.

  • $20,000 to $49,999: $100 bonus
  • $50,000 to $99,999: $150 bonus
  • $100,000 to $199,999: $250 bonus
  • $200,000 and above: $600 bonus

Merrill Edge® Self-Directed has all the features you'd expect from a top broker and is a particularly great option for Bank of America customers.

Check out our Merrill Edge promotions page for more.


How does a bonus for opening a brokerage account work?

How to pick the best broker bonuses

When picking the best broker promotions, first figure out the minimum requirements to qualify for the bonus. For example, many cash bonuses require you to make a minimum deposit, which can be both cash and securities, and to hold those funds in an account for a set period of time.

Another factor to consider is whether it is a stock bonus or a cash bonus. Some brokerages offer free stocks to new customers who deposit a certain amount. However, many of these stocks are chosen at random, and there's only a small chance you'll get a high-value stock.

Don't open a brokerage account purely because of the sign-up bonus. Look for an account that will suit your investment needs and won't charge you a fortune along the way. A bonus can be a nice boost to your investments, but it's more important to find a brokerage with the account types, products, and tools you want to use.

How should you use the brokerage bonus earned?

You can use a cash bonus to purchase stocks, bonds, or funds, or keep it as cash as part of a diversified portfolio. Just be aware that if you want to transfer the bonus out of your account, there may be a minimum holding period. Otherwise, you could lose the bonus.

If you got a stock bonus, you may hold or sell awarded stocks once they're credited to your account. The value from the sale of the stock can be withdrawn or used to buy other eligible securities.

TIP

If you get a stock bonus, check the trading costs

Before you sell any bonus stock, think about what you'll pay. For example, if there is a $4.99 trading commission and the stock you received is worth $3, then it would not be worth liquidating the stock.

If you can sell a stock with no commission, analyze the stock to see if it is right for your investment portfolio, time horizon, and risk tolerance. Research to see if the stock is for a growing company with the potential to appreciate in value over time. If not, then it may be worth selling and purchasing other securities that better fit your financial goals.

Can you earn more than one stock broker bonus?

Yes, as long as the minimum requirements are met, you can open accounts at more than one brokerage to get multiple bonuses. Keep in mind that the funds must be left in the account for a specific period or the bonus may be revoked.

In addition, some brokerages have account closing fees that may be more than the bonus is worth.

If you're just getting started with investing, check out our list of the best online stock brokers for beginners to learn more about your options.

Our brokerage rating methodology

At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

See our full methodology here: Ratings Methodology

FAQs

  • Not all brokers offer sign-up bonuses. Those that do often only offer them for limited promotional time periods, and may only offer them on specific accounts. Bonuses are not that common in the brokerage world, but may be a way you can get extra cash to put toward your wealth-building goals.

  • The best brokerage bonus depends a lot on the amount you have to invest and what kind of account you are looking for. Don't only look for the best bonus -- think about which brokerage will meet your needs longer term.

Brokerages we evaluated for consideration on this page: Acorns, Ally Invest, Axos Self-Directed Trading, Betterment, Cash App Investing, Charles Schwab, Delphia, Domain Money, Ellevest, Empower, eToro Brokerage, E*TRADE Core Portfolios, E*TRADE, Fidelity, Fidelity Cash Management, Fidelity Go®, Firstrade, FOREX.com, Interactive Brokers, J.P. Morgan Self-Directed Investing, M1 Finance, Magnifi, Marcus Invest, Merrill Edge® Self-Directed, Moomoo, NinjaTrader, Personal Capital, Plynk, Prosperi Academy, Public, Robinhood, Rocket Dollar, Schwab Intelligent Portfolios, SoFi Active Investing, SoFi Robo Investing, Stash, Stockpile, Tastytrade, Titan, Tornado App, TradeStation, Tradier, Vanguard, Vanguard Digital Advisor®, Wealthfront, Webull, Zacks Trade.