Best Brokerage Account Promotions & Bonuses for May 2024

Opening a brokerage account has never been easier. Plus, each one of these brokerage firms is vying for your business, and many are offering new account bonuses and brokerage account promotions just for signing up.

Whether you’re looking to trade stocks, bonds, ETFs, or even cryptocurrency, there’s an overwhelming amount of quality platforms to chose from.

In this post, we share the best brokerage bonuses available today, including the main features and benefits that you can find with each one.

Best Brokerage Account Promotions

Here are the top brokerage account promotions and bonus offers available right now:

  1. J.P. Morgan: up to $700 bonus
  2. E*TRADE Bank: up to $4000 bonus
  3. Citi®: up to $500 bonus
  4. TD Bank: up to $750 bonus
  5. M1: up to $500 bonus
  6. Robinhood: Free stock (up to $200) bonus
  7. SoFi: up to $10000 bonus
  8. Acorns: $20 bonus
  9. Fidelity: $100 bonus
  10. Tradestation: up to $3500 bonus
  11. Bank of America: up to $600 bonus
  12. Charles Schwab: up to $1000 bonus

Self-Directed Investing Logo1. J.P. Morgan Wealth Management

Available nationwide with the ability to open online, J.P. Morgan Wealth Management is offering up to a $700 welcome bonus when you open a new Self-Directed Investing account with qualifying minimum funding.

This is tiered bonus, meaning that the more you deposit, the more you may be eligible to earn. New for this iteration, J.P. Morgan has introduced a lower tier at $5,000, down from the previous $25,000 entry point and raised the max bonus amount!

Here are all 4 tiers of this investing bonus:

New Money Added Bonus Amount
$5,000-$24,999 $50
$25,000-$99,999 $150
$100,000-$249,999 $325
$250,000+ $700

This is the highest offer that we've seen to-date from J.P. Morgan.

Self-Directed Investing - up to $700 bonus

Expires: July 19, 2024

The Self-Directed Investing signup offer requires you to deposit and maintain a minimum balance in order to earn the $700 bonus. Full requirements to receive this bonus are:

  1. Open a J.P. Morgan Self-Directed Investing account using the link below.
  2. Within 45 days, fund your account with qualifying new money; $5,000 - $24,999 = $50 bonus; $25,000 - $99,999 = $150 bonus; $100,000 - $249,999 = $325 bonus, $250,000 = $700 bonus.
  3. Your bonus amount will be determined on day 45.
  4. Maintain your new funds for 90 days (losses due to trading or market fluctuation will not be taken into account).
  5. Bonus will be received within 15 days.
  6. INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

read the full terms

E*TRADE Bank Logo2. E*TRADE Bank

Payouts have increased again! E*Trade is now offering new investors up to $4,000 in bonus cash when you open and fund a new investing account. You'll only need $50 to earn the first tier bonus ($100)!

They've shuffled all the previous tiers and reinstated the tiers for those with 7+ figures to invest. If you're wanting to earn the full $4,000, you need at least $1.5M in investable assets.

This offer is available to both new and existing customers; however, different rules may apply, so be sure to check the disclosures at the link below.

Brokerage Account - up to $4000 bonus

Expires: May 31, 2024

The Brokerage Account signup offer requires you to deposit and maintain a minimum balance in order to earn the $4000 bonus. Full requirements to receive this bonus are:

  1. Open a new eligible E*TRADE brokerage or retirement account using the link below with promocode PROMO24.
  2. During the first 60 days, fund your new account with new money as follows: $50 - $999, earn $100; $1,000 - $49,999, earn $150; $50,000-$99,999 earn $200; $100,000-$199,999 earn $300; $200,000-$499,999 earn $600; $500,000 - $999,999, earn $1,000; $1,000,000 - $1,499,999, earn $2,000; $1,500,000+ earn $4,000.
  3. If you deposit $200,000 or more, you will receive a cash credit within seven business days.
  4. If you have deposited at least $200,000 in your account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window.

read the full terms

Citi® Logo3. Citi®

Available nationwide to new and existing customers, Citi is offering up to a $500 bonus when you add new-to-Citi funds to a Citi® Self Invest account.

As is typical with Citi promotions, this is a tiered offer: the more you add, the more you earn. You'll need to deposit at least $10,000 to earn a $100 reward, or at least $200,000 to receive the full $500.

You'll need to also maintain your funds through a date defined in the table below:

Month opened/new funds addedFunding periodMaintain Funds Through
March 2024through 04/30/2024 05/31/2024
April 2024through 05/31/2024 06/30/2024
May 2024through 06/30/2024 07/31/2024
June 2024through 07/31/2024 08/31/2024

Citi® Self Invest - up to $500 bonus

Expires: June 30, 2024

The Citi® Self Invest signup offer requires you to deposit and maintain a minimum balance in order to earn the $500 bonus. Full requirements to receive this bonus are:

  1. Open a new Citi® Self Invest account or add new-to-Citi funds to an existing account.
  2. Opt-in to eDelivery of statements and confirmations.
  3. Bonus will be tiered based on the total amount added: $10,000 to earn $100; $50,000 to earn $200; $200,000 to earn the full $500.
  4. Maintain the New-To-Citi funds in your account through the “maintain funds” deadline as outlined in the chart.
  5. Bonus will be credited on the last day of the 3rd month following the “maintain funds” period.

read the full terms

TD Bank Logo4. TD Bank

TD is getting in the robo-advisor game and offering up to $750 when you open a new TD Automated Investing account. This is a tiered bonus where you can earn more depending on how much money you can invest.

Automated Investing - up to $750 bonus

Expires: July 31, 2024

The Automated Investing signup offer requires you to deposit and maintain a minimum balance in order to earn the $750 bonus. Full requirements to receive this bonus are:

  1. Open a new TD Automated Investing account with at least $1,000.
  2. Within 30 days, fund your new account as follows: $1,000 - $4,999, earn $50; $5,000 - $24,999, earn $150; $25,000 - $49,999, earn $250; $50,000 – $74,999, earn $450; $75,000+, earn $750.
  3. Maintain a minimum balance of $1,000 for 90 calendar days after your TD Automated Investing account is approved.
  4. Bonus will be credited to your new TD Automated Investing account within 15 calendar days of meeting eligible offer requirements

read the full terms

M1 Finance Logo5. M1 Finance

Available nationwide with the ability to open online, and back for 2024, M1 Finance is offering up to a $500 welcome bonus when you open a new investment account and make an initial deposit. This is a tiered bonus, the more you deposit, the more you can earn.

M1 Invest - up to $500 bonus

Expires: December 31, 2024

The M1 Invest signup offer requires you to deposit and maintain a minimum balance in order to earn the $500 bonus. Full requirements to receive this bonus are:

  1. Open a new M1 Invest account.
  2. Within 14 days, make cumulative initial deposits totaling at least $10,000.
  3. Maintain that balance for six months to earn your bonus, as follows: $10,000-$29,999 earn $75; $30,000-$49,999 earn $150; $50,000-$99,999 earn $250; $100,000+ earn $500.
  4. Bonus will payout on the last day of the sixth month after the New User Sign-up Date

read the full terms

Robinhood Logo6. Robinhood

Robinhood is a commission-free stock trading platform that's had mixed headlines in the news (GME, what?). But Robinhood is a popular choice – particularly among beginner investors – due to their sleek, easy-to-use app.

This is a program that many investment apps now offer, but Robinhood pioneered: sign up and get a free stock. The stock has a 98% chance of being worth $5-$10, so this isn't an amazing bonus, but it's something for almost nothing (you don't even need to fund your account). The stock will hit your account within a week, and is tradeable 2 days after that.

Investing Account - Free stock (up to $200) bonus

Expires: Limited Time

The Investing Account signup offer requires you to complete the following in order to earn the Free stock (up to $200) bonus. Full requirements to receive this bonus are:

  1. Open a new Robinhood investing account using the link below.
  2. Link your bank account.
  3. Stock bonus will be credited to the enrolled account within approximately one week.

read the full terms

SoFi Logo7. SoFi

SoFi is offering customers a cash bonus to move your portfolio over to SoFi. The bonus is tiered, and you'll need to transfer $5 million in assets to earn the full $10,000 (steep!), but the bonus starts at $100 for transferring $5,000.

Keep in mind that although SoFi will pay out the bonus within 14 business days of the end of the promo period, they'll claw it back if you withdraw those funds within 180 days. They'll even refund up to $75 in ACAT fees from your other brokerage!

Sofi Invest - up to $10000 bonus

Expires: Limited Time

The Sofi Invest signup offer requires you to deposit and maintain a minimum balance in order to earn the $10000 bonus. Full requirements to receive this bonus are:

  1. Open a new SoFi Invest account using the link below (or be an existing user).
  2. Before the promotion's expiration date, transfer investments from another brokerage firm: $5,000 to earn $100, $25,000 to earn $200, $100,000 to earn $500, $250,000 to earn $750, $500,000 to earn $1,000, $1,000,000 to earn $2,500, $2,000,000 to earn $5,000 or $5,000,000+ to earn $10,000.
  3. Bonuses will be paid within 14 days of the last day of the month in which the transferred assets settled in your SoFi Invest account.

read the full terms

Acorns Logo8. Acorns

Acorns is offering BankBonus.com users a $20 welcome bonus when you open a new Invest account. You just need to open the account from the link below and fund it with $5 to earn the reward.

What's more? They've been running amazing referral bonuses. So, sign up for a new account and then share your referral link with friends and family, and you could be pocketing up to $1,000+ each week!

Acorns Invest - $20 bonus

Expires: Limited Time

The Acorns Invest signup offer requires you to complete the following in order to earn the $20 bonus. Full requirements to receive this bonus are:

  1. Open a new Acorns Invest account using the link below.
  2. Fund account with at least $5.

read the full terms

Fidelity Investments Logo9. Fidelity Investments

Fidelity is offering a super easy $100 bonus to customers who open a new Fidelity Account®, Cash Management Account, or a Roth or traditional IRA.

To earn the bonus, you'll just need to fund the new account with $50. Then, 10 days later, your account will be $100 richer.

Keep in mind that the fine print says that you'll need to maintain the bonus award in the account for at least 90 days, otherwise you could forfeit it.

Personal Account - $100 bonus

Expires: Limited Time

The Personal Account signup offer requires you to deposit and maintain a minimum balance in order to earn the $100 bonus. Full requirements to receive this bonus are:

  1. Open a new eligible account using the promo code FIDELITY100.
  2. Within 15 days, deposit $50.
  3. Bonus will be deposited directly to the eligible account within 10 calendar days after the qualification period.

read the full terms

Tradestation Logo10. Tradestation

Tradestation is offering investors up to $3,500 in bonus cash when you add new funds to a new or existing investing account. You only need $5,000 to earn the first tier bonus ($150), and up to $5M to earn the full $3,500. It's worth noting each of the tiers are considerably higher this time around than when it was previously offered.

Brokerage Account - up to $3500 bonus

Expires: Limited Time

The Brokerage Account signup offer requires you to deposit and maintain a minimum balance in order to earn the $3500 bonus. Full requirements to receive this bonus are:

  1. Enroll an existing account or open a new account using promo code TSTVAGFD at the url below.
  2. Within 45 days, fund your account.
  3. To receive $150 bonus, fund with $5,000- $24,999; To receive $300 bonus, fund with $25,000- $99,999; To receive $500 bonus, fund with $100,000-$249,999; To receive $1,000 bonus, fund with $250,000-$499,999; To receive $2,000 bonus, fund with $500,000-$999,999; To receive $3,500 bonus, fund with $1,000,000+.
  4. Bonus will be deposited into the account the month following the end of the 270-calendar day holding period.

read the full terms

Bank of America Logo11. Bank of America

Available nationwide with the ability to open online, Bank of America's Merrill Edge is offering up to a $600 welcome bonus when you open a new Merrill Edge Self-Directed account and make an initial deposit.

What's more? There's also a $1,000 Merrill Edge bonus for those enrolled in Bank of America's Preferred Rewards program. The lower tiers are also bumped as well.

We only list the most popular tiers; however, here's a complete list of tiers you can ask for:

  • $20,000 to $49,999 – $100
  • $50,000 to $99,999 – $150
  • $100,000 to $199,999 – $250
  • $200,000 to $299,999 – $600
  • $300,000 to $499,999 – $1,000
  • $500,000 to $999,999 – $1,500
  • $1,000,000 or more – $2,500
  • $2,000,000 or more – $3,500
  • $5,000,000 or more – $5,000
  • $10,000,000 or more – $7,500

Merrill Edge Self-Directed - up to $600 bonus

Expires: Limited Time

The Merrill Edge Self-Directed signup offer requires you to deposit and maintain a minimum balance in order to earn the $600 bonus. Full requirements to receive this bonus are:

  1. Open a new Self-Directed Trading account from Merrill Edge using promo code "600ME".
  2. Within 45 days, fund your account with new money from outside Bank of America. To earn a $100 bonus, deposit $20,000-$49,999; To earn a $150 bonus, deposit $49,999-$99,999; To earn a $250 bonus, deposit $100,000-$199,999; To earn a $600 bonus, deposit $200,000 - $299,999.
  3. Maintain that balance for at least 90 days.
  4. Bonus will be deposited within two weeks following the end of the 90 day period.

read the full terms

Charles Schwab Logo12. Charles Schwab

If you're not currently a Schwab customer, you can open any investment account and earn a referral bonus based on your net deposit within 45 days. This includes retail brokerage accounts, individual retirement accounts, or the managed portfolios like Schwab Intelligent Portfolios®.

Keep in mind that the link above is only for details – you will need to open the account through a referral link from an existing Schwab customer in order to qualify for the promo.

This is a tiered bonus, the more you deposit, the more you can earn.

  • Tier 1 | Balance Maintained: $25,000 - $49,999: $100 Bonus
  • Tier 2 | Balance Maintained: $50,000 - $99,999: $300 Bonus
  • Tier 3 | Balance Maintained: $100,000 - $499,999: $500 Bonus
  • Tier 4 | Balance Maintained: $500,000+: $1,000 Bonus

Schwab One® - up to $1000 bonus

Expires: Limited Time

The Schwab One® signup offer requires you to deposit and maintain a minimum balance and use a referral link in order to earn the $1000 bonus. Full requirements to receive this bonus are:

  1. Open a new account using a referral link from an existing member.
  2. Within 45 days, make a qualifying net deposit between $25,000 - $500,000+ in cash or securities, earning the reward that correlates with that tier ($100-$1,000).
  3. The net deposit amount at the end of 45 day period will be used to calculate your bonus tier.
  4. Bonus will be paid into your account about a week after the 45-day period.

read the full terms

Frequently Asked Questions

What is a brokerage account?

A brokerage account is a financial account that allows you to buy and sell securities like stocks, bonds, mutual funds, and ETFs. Just like a normal bank account, you can deposit and withdraw money. The difference is that with a brokerage account, you can actively grow your money through investments. You can also lose money, depending on market conditions and how your securities perform.

There are many different types of brokerage accounts for all kinds of investor profiles. Whether you have just a few dollars or a few million to invest, you should be able to find an account that meets your needs.

Who is the best online broker?

It’s tough to say which broker is the outright best online broker because it really comes down to your investment style and goals.

Some online brokers are ideal for investors that love to buy and sell funds and actively time the market. Others are better for those that simply want to buy and hold funds for the long term.

It also depends on whether you’re looking for more of a DIY platform (e.g., Robinhood and Tastyworks) or a more traditional experience (e.g., Schwab and Vanguard) with access to customer advisors when you need help.

That said, the best online broker for you is the one that meets your needs. If you get get a sign-up bonus while you’re at it, go for it. But whatever you do, avoid signing up for a platform that you don’t understand just to get the bonus.

Are trading apps legit?

Yes, most of them are legit. With the onslaught of mobile brokerage apps in recent years, it can feel overwhelming trying to determine if they are trustworthy. But rest assured, there are a ton of legitimate, convenient trading apps, and any of the platforms listed in this post are safe. Be sure to look into reviews and read the fine print before you invest, and you should be just fine.

Can you have multiple brokerage accounts?

Yes. There’s no law against holding onto more than one brokerage account, but you should weigh the pros and cons before taking that route.

It might make sense to have multiple portfolios if you have a variety of investment goals that cannot be accomplished on the same platform. Plus, opening multiple accounts can help you take advantage of more than one sign-up bonus.

On the other hand, too many accounts can complicate things. The more places you have your money, the harder it is to keep track of. You also might miss out on relationship bonuses if you’re spread too thin because financial institutions tend to reward those who have more money with them.

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