- $50 with $5,000 in transferred assets or deposits
- $100 with $10,000 in transferred assets or deposits
- $300 with $25,000 in transferred assets or deposits
- $700 with $50,000 in transferred assets or deposits
- $1,500 with $100,000 in transferred assets or deposits
- $3,000 with $1,000,000 in transferred assets or deposits
- $4,000 with $1,500,000 in transferred assets or deposits
Offer details.
- New taxable and IRA accounts are eligible.
- Firstrade will also cover up to $200 in ACAT transfer fees and up to $25 in wire transfer fees.
- You must keep the assets there for at least 12 months.
- Must open by 11/10/22 and fund within 30 days of account opening.
Offer valid for new Firstrade Brokerage or IRA accounts opened from 10/10/2022 to 11/10/2022 and funded within 30 days of account opening with $5,000 or more. To be eligible for the bonus, the new account must be opened using the specific “Open an Account” button associated with this promotional offer. Limit one offer per account type.
This offer is open to U.S. residents only and excludes current and former Firstrade account holders who have closed their accounts within the past 90 days. This offer is not transferable.
Important: The account must remain open for 12 months with the minimum funding or assets required for participating in the offer (minus any trading losses), or Firstrade may charge the account for the cost of the offer at its sole discretion. Firstrade reserves the right to restrict or revoke this offer at any time.
Commentary. This is an overall solid promotion, although right now other offers may be slightly better at any given tier amount. For example, the
Reminder: Brokerage Asset Bonuses vs. Bank Deposit Bonuses. There is an important difference between brokerage asset bonuses and bank deposit bonuses. A bank deposit bonus pays you extra interest for holding a certain amount of cash with them. A brokerage asset bonus requires you to transfer over your existing investments like index funds, individual shares of Apple or Berkshire Hathaway, individual shares of REITs, and so on. You still own the asset and it’s still doing its thing. The brokerage bonus is on top.
In this example, if you really wanted to compare it directly against an interest rate, you should at least assume you will be holding a T-Bill ETF like GBIL or BIL (current SEC yield roughly 2.5%) and then adding this bonus on top of the yield. However, the real benefit for patient, long-term investors that you can just keep your existing assets and essentially get paid a DIY “management fee”.
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