With the positive turn in the economy, quite a few online brokers are back to offering brokerage account promotions. These new account promotions can be in the form of free trades, account transfer rebates and in most cases, cold hard cash. If you are an active trader then these bonuses can simply cover future trading commissions.
There is a current Tradeking Bonus where you can get $50 when you open a new Tradeking brokerage account and make one trade. An even better brokerage promotion is the current OptionsXpress Bonus that will net you a $100 cash bonus deposited into your account when you make 3 trades.
When applying for an account that offers a bonus, make sure to read all the fine print and fully understand all the terms of the deal. Quite a few promotions out there require you to leave the bonus money in the account for a period of time. The reasoning for this is that they hope you use that bonus in your account to place trades, which essentially pays it back to them. Other promotions require a minimum balance to be deposited. In this case, make sure the bonus being offered is better than what that minimum balance could do in a high yield savings or CD for the time period required.
Another thing to think about when opening a new brokerage account is the features that the account offers. Make sure they the commissions of the types of trades that you want to do is in line with your investing strategy. The goal of the bonus is to get you to open the account with them, so make sure that you would actually want to trade with them. Be sure to read online reviews of each broker and understand the drawbacks as well.
The above are just a brokerage bonuses that you can receive when opening a new account. With all the free deals out there make sure to do your research prior to opening a new account anywhere.
Related posts: