Several of the large online and national banks are looking to round out their product offering and capitalize on consumers' fervent interest in self-directed stock buying.
To that end, Axos is ramping up their investment platform: Axos Self-Directed, which offers commission-free trades. This competes against banking competitors Chase, Charles Schwab, and the newest Citi® Self Invest, along with online brokerages like Robinhood.
Axos is offering a $250 welcome bonus for a limited time to new customers of their Self-Directed Trading or Managed Portfolio products. The minimum deposit amount is a little higher, but so is the bonus amount.
How To Earn The Bonus
The Axos Self-Directed Trading promotion requires you to deposit and maintain a minimum balance in order to earn the $250 bonus.
Full requirements to receive this bonus are:
- Open a new Axos Self-Directed Trading or Managed Portfolio account.
- Within 60 days, fund your account with at least $2,000.
- SDT accounts will also need to make a minimum of 2 trades of at least $25 to qualify.
- Maintain a balance of at least $2,000 for 90 days.
- Bonus will be deposited within 10 days following the 90-day waiting period.
The fine print
- This offer is valid for one new Axos Invest Self-Directed Trading or Axos Invest Managed Portfolio account per person and only open to U.S. residents.
- Current and former Axos Invest account holders who have received a promotion or closed accounts within the past 365 days are not eligible.
- Receipts in the form of a statement for ACAT transfer transactions must be submitted to firstname.lastname@example.org for verification and reimbursement of up to $300.
- Subsequent market fluctuations and/or trading losses do not impact qualification.
- Deposit funds must be new to bank from a third-party source (not originated from another Axos Bank brand account) to receive bonus credit.
How does this investment offer from Axos compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
- up to $700
- Account Type
- Expires In
- 42 days
- Min Balance
Why Axos Bank?
Axos is a relatively new, online-only bank, established in 2000 and based in California. They offer both personal and business products, with particularly competitive rates on the personal side. In fact, their personal checking account earns a higher rate than most money market accounts (though there are a couple of tier requirements to earn the full advertised rate).
Altogether, Axos offers fewer products than the big banks, but enough for the average consumer and small business owner: checking and savings accounts, CDs, home, auto and personal loans. Also under the Axos umbrella, the company offers Axos Invest, a robo-advisor similar to products like Betterment and Wealthfront.
Learn more in our Axos Bank review
Self-Directed Trading does not charge a monthly fee.