Below are the best brokerage account cash sign-up bonuses available today. To compile this list, we considered the overall quality of the brokerage, the investment options offered, and the value of the bonus compared to the deposit needed to earn it.
| TradeStation | $500 deposit for a $150 bonus. |
| Public | $5,000 deposit for a $150 bonus. |
| M1 Finance | $10,000 deposit for a $75 bonus. |
| Merrill Edge | $20,000 deposit for a $100 bonus. |
| Charles Schwab | $25,000 deposit for a $100 bonus. |
| Citi Self-Invest | $10,000 deposit for a $100 bonus. |
#1. TradeStation
TradeStation is the go-to brokerage for many active investors due to its powerful trading platform, commission-free stock trades, and diversified list of tradable assets. Read our TradeStation review to learn more.
Their current bonus gives you $150 in cash after funding an account with $500 or more. Alternatively, you can choose to fund a TradeStation crypto account and earn $150 in Bitcoin.
This offer is only available to new customers who make qualifying deposits within 45 days of enrollment. The bonus is paid in $75 increments, with the first payment being issued after your first full month after funding your account and the second payment being issued after the second full month.
You must enter the promo code FNMZAGAO during the singn-up process to claim the bonus!
See all current TradeStation promotions.
#2. Public
Public is one of our favorite commission-free trading platforms. It offers fractional share investing with no monthly fees, and its design is beginner-friendly.
Public’s current promotion offers up to $10,000 in bonus funds for transferring an existing brokerage account to the platform, making the offer one of the best available for high-net-worth investors.
| Transfer Amount | Bonus |
| $5,000 – $24,999 | $150 |
| $25,000 – $99,999 | $250 |
| $100,000 – $249,999 | $1,000 |
| $250,000 – $499,999 | $2,500 |
| $500,000 – $999,999 | $5,000 |
| $1 million or more | $10,000 |
How it breaks down is:
- This is a transfer bonus only. Cash deposits do not qualify.
- Public will cover your transfer fees from your existing broker (up to $500).
- Your transfer bonus is deposited 30 days after your transfer date.
Keep in mind that the bonus will be revoked if you don’t keep the transferred funds in your account for at least six months.
Visit Public or learn more in our Public Investing review.
#3. M1 Finance
M1 Finance is an online broker that allows customers to invest in stocks, ETFs and crypto. It’s unique in that it combines elements of robo-advisors like Wealthfront with those of more typical online brokers, such as Robinhood.
For those who prefer a hands-off approach to investing, M1 offers a variety of tailored investment portfolios to choose from. However, those who want more control over their investments can pick individual assets to create their own highly-customized portfolios.
You can learn more in our M1 Finance review.
The current bonus structure is as follows:
| Deposit Amount | Bonus Value |
| $10,000 to $29,999 | $75 |
| $30,000 to $49,999 | $150 |
| $50,000 to $99,999 | $250 |
| $100,000 or more | $500 |
Visit M1 Finance to learn more.
#4. Merrill Edge
Owned by Bank of America, Merrill Edge is a popular brokerage pick among banking and credit card clients of Bank of America thanks to a rewards program that offers clients higher credit card rewards and interest rate discounts.
Merrill Edge, which offers no-cost stock and ETF trades with no minimums, applies a tiered structure to its bonus offer.
| Qualifying Net New Asset Balance | Cash Reward |
| $20,000 to $49,999 | $100 |
| $50,000 to $99,999 | $150 |
| $100,000 to $199,999 | $250 |
| $200,000 or more | $600 |
Customers need to enroll into the offer by entering an offer code on the online application (or when completing the application over the phone). The account needs to be funded with at least $20,000 within the first 45 days of opening.
The funds need to be new to Merrill, which include Bank of America, MLPF&S, Bank of America Private Bank, and 401(k) accounts administered by MLPF&S. The account will be reviewed after 90 days and the cash bonus deposit will be made within two weeks after this review.
#5. Charles Schwab
Charles Schwab is a popular low-cost brokerage known for its selection of mutual funds, outstanding research tools, and solid customer service.
Schwab takes a slightly different approach to its bonus by requesting a referral link from its new customers. This means that if you want to qualify for Schwab’s bonus, you need a friend who happens to be an existing Schwab customer to send you a link.
As a Schwab customer, primarily for the Charles Schwab High Yield Investor checking account that reimburses you on ATM fees worldwide, you can use my referral link. (There’s no bonus for the referrer in this case.)
Once you use the link to sign up and become a client, you may qualify for a bonus up to $1,000.
The tiered structure looks like this:
| Initial Deposit | Bonus |
| $25,000 to $49,999 | $100 |
| $50,000 to $99,999.99 | $300 |
| $100,000 to $499,999.99 | $500 |
| $500,000 or more | $1,000 |
New clients need to make a qualifying deposit within 45 days of opening an account. Once opened, the account will be reviewed and the bonus credited within about a week.
#6. Citi Self-Invest
In an effort to reach lower-cost investors, Citigroup launched Citi Self-Invest in 2021. This is separate from Citi Personal Wealth Management, which offers a hands-on approach to overall wealth management and portfolio management with a dedicated advisor.
Citi Self Invest offers a cash bonus to accounts with qualifying deposits based on a tiered structure.
| Initial Deposit | Bonus |
| $10,000 to $49,999 | $100 |
| $50,000 to $199,999 | $200 |
| $200,000 or more | $500 |
The offer expires on June 30th 2023, and applicants must fund their Citi Self Invest account with a minimum of $10,000 within the account funding period to qualify. Important to note is that these funds need to be new to Citi.
The bonus is limited to one per customer. When multiple accounts are opened, the bonus will apply to the qualifying account with the highest balance. The bonus can’t be combined with any of Citi’s other offers.
Best Broker Account Cash Sign Up Bonus FAQs
Cash received from a brokerage promotion is taxable income. Technically, it’s treated the same as interest. However, some brokerages only issue a 1099 when earnings are over $600. If that’s the case, the income is still taxable.
Money deposited into a traditional IRA is not immediately taxable but does count towards your total contribution for the year. You’ll pay tax upon withdrawal.
Money paid into a Roth IRA isn’t taxable income.
It depends on the type of assets you’re selling. If you’re selling stocks, bonds and other securities in your taxable account, the sale is considered a taxable event. In this case, the earnings from the sale would be treated as capital gains and taxed accordingly.
To avoid this, aim to transfer the existing assets in your account without selling first. For example, if you hold Amazon stock, you can just transfer it to a new brokerage instead of selling it and moving the cash.
It depends on how much money you’re depositing. If you’re depositing $1 million or more, Public gives you a $10,000 cash bonus. E-TRADE gives you a $3,500 bonus for depositing $1.5 million.
Free stock offers are better for those who cannot hit the minimum deposits offered for the cash bonuses mentioned above. In our testing, most of the stocks we received were valued at less than $10 (and often less than $5). While you may get lucky and get a higher value stock, you’re much better off going with a cash bonus offer if you’re making a larger transfer.
M1 does not appear to be offering a bonus currently on 5/26/2022
Hey Pete. I’m seeing that it’s back live. I also linked directly to their promotions page versus their homepage.
Often, at the end of the month, there are changes, so it could have easily been down a few days here. Thanks for the heads up!
6/30 Update: It’s officially expired.
public.com is offering $10k bonus if you transfer $1M or more. That’s 5x better than your best option above? Thoughts?
Interesting. Knew they offered a generous free stock bonus (https://www.thewaystowealth.com/make-money/free-stocks/), but didn’t realize they offered a transfer bonus as well.
I’ll update, as it’s pretty solid even on the lower end ($150K for a $5,000 bonus).