There are a lot of benefits to investing in the stock market. Just one investment can potentially grow your money over time. If you diversify your portfolio by putting money in different areas of the market, you’ll have more opportunities to make a profit. And brokerages are trying to attract customers to use their services by offering some great incentives. You could get free stocks, free cash, or even free transfers if you take advantage of brokerage promotions.
If you’re thinking of investing or looking for a new brokerage, there are some investment firms providing enticing promotional offers. Some involve simply signing up and getting bonus money, and others will provide their brokerage services free of charge.
Here are five current promotions to check out.
1. Ally Invest
The Offer: Up to $3,500 Cash Bonus
Ally Invest is an online bank that provides customers with secure brokerage and investment services and a range of self directed and managed portfolio products.
Right now, new Ally Invest customers can receive up to a $3500 cash bonus if they open a brokerage account before the end of the year. You can take advantage of this simply by opening a self-directed account and making a qualifying deposit within 60 days of opening the account. This will allow you to earn anywhere from $50 to $3,500 in bonus money.
2. E-Trade
The Offer: Up to $3,000 Cash Bonus
E-Trade can be credited with inventing the platform for retail investors to place trades online. There is opportunity for new customers to switch over to E-Trade and receive bonus cash. All you have to do is deposit or transfer at least $5,000 to take advantage of this offer.
The cash bonus you recieve will depend on how much money you choose to invest within 60 days of opening the account. There are seven possible cash bonuses you can recieve, the lowest being $100 by investing $5000 to $24,999. The highest cash credit you can recieve is $3000 by investing at least one million dollars.
3. M1 Finance
The Offer: Up to $2,500 Transfer Bonus
With 150,000 investors and counting, M1 Finance is a newly founded broker that opened for business in 2015. Currently, M1 Finance is offering up to $2,500 in bonus cash if you transfer from another brokerage.
It’s easy to take the company up on this bonus offer. All you have to do is set up your investment account with the necessary forms in as little as four minutes, transfer the funds from another brokerage, and wait to receive your bonus cash.
The amount of money you choose to deposit will determine how big your transfer bonus is. The smallest investment of $100,000 to $200,000 will earn you a cash bonus of $250. If you transfer over one million dollars, your account will earn the $2,500 cash bonus.
4. Robinhood
The Offer: Up to $200 in free stock
Robinhood gives customers commission-free investing and the opportunity to invest in thousands of stocks with as little as one dollar. For new sign-ups, Robinhood is offering a free stock in your account.
After your brokerage application is approved, you will receive free stock worth up to $200. The stock is chosen randomly from its most popular inventory, and you can choose to keep or sell the stock after two trading days. There is an opportunity to earn more free stock by inviting friends to sign up for the service.
5. Betterment
The Offer: A free managed account for up to one year
Betterment is a fiduciary business that helps customers reach their financial goals and manage investments. By signing up with Betterment, you have the opportunity to get a free managed account from one month to one year. The amount you invest after signing up will determine how long this promotion will apply to your account.
The minimum deposit required to earn one free month of account management is $15,000 to $99,999. Choosing to invest between $100,000 and $249,00 will get you a free Betterment account for six months. Finally, an investment deposit of at least $250,000 will qualify you for a free managed account for one year.
Compare Different Brokerage Promotions
There are a lot of benefits to investing your money. And with these latest promotions, there is even more reason to start now or consider switching to a new brokerage.
Research how different brokerages platforms work and which ones make the most sense for your portfolio. Make sure to learn information beyond the company’s incentive to better understand what your experience will be like as a customer.
Decide which offer is right for you and take advantage while the promotions are still available. Depending on your financial goals, one of these incentives could be what you’re looking for to kickstart them into reality right now.