17 Best Brokerage Account Promotions and Bonuses for August 2022

Are you looking to open a new brokerage account to manage your portfolio of investments but aren’t sure which one?

Many online investment platforms compete for business by offering new account promotions based on the assets you can transfer to their platform. While promotions shouldn’t be the only consideration, these promotion/bonus amounts are too hard to look past.

There are a range of bonuses listed below, whether you have an established portfolio and looking to transfer stocks, or starting new.

Continue reading to review the best brokerage account promotions for new accounts.

💰 Get up to $2000 from a Citi Priority Account Today!

Citi Priority is offering up to $2000 when you open a Citi Priority Account by 1/9/2023.

Then, within 20 days of opening your account, deposit New-to-Citi® funds and keep it there for 60 days after the 21st day. The bonus is based on the amount you transfer.

This is a limited time offer so don’t wait!

Learn more about this offer

🏆 Our Top Picks:

  1. Tastyworks [Best Bonus] – Tastyworks is our Editor’s Pick as the best brokerage promotion because it offers a bonus of five shares of stock worth at least $40 when you deposit $2,000 – it’s the highest bonus amount as a ratio of the deposit.
  2. Webull [Best for Free Stock] – Webull has a simple promotion that everyone should do it – open an account and you get up to 12 free stocks. It’s just like Robinhood, but you can always do both offers!
  3. Ally Invest [Highest Cash Bonus] – Ally Invest has the highest cash bonus if you transfer your assets to their brokerage. As long as you transfer more than $10,000 in assets, you get free cash. They also offer free trades so it’s a winner all around.
Table of Contents
  1. 💸 Tastyworks – $200-$250 in stock
  2. 💸 Ally Invest – up to $3,000
  3. 💲 Webull – up to 12 free stocks
  4. 💲 Robinhood – Free Stock + up to $600
  5. Yieldstreet – up to $500
  6. J.P Morgan Self-Directed Investing – up to $625
  7. Axos Invest – $200
  8. Moomoo – up to $25,000 in stock
  9. M1 Finance – up to $500 [EXPIRED]
  10. TradeStation – up to $5,000
  11. Tornado – up to $1,000
  12. E*TRADE – Up to $3,500
  13. SoFi Invest – $25
  14. Popular Bank
  15. Citi Personal Wealth Management
  16. Merrill Edge – up to $750
  17. Charles Schwab – $101 in stock
  18. Fidelity Account – $100 Cash
  19. Fidelity Spire – $50 Promotion
  20. Frequently Asked Questions

💸 Tastyworks – $200-$250 in stock

Tastyworks has a simple promotion – open and fund a new Tastyworks account with $2,000 and you’ll get five shares of a single stock valued between $40 and $50 (hence the value range in the bonus).

It’s as simple as opening a non-IRA or non-Trust account and fund it with $2,000 by 8/31/2022. In return, you will get stock. That’s it.

The referral/promotion code for this offer is “STOCK_AWARD_2022” and you must put it in the Referral Code Field when applying.

Learn more about Tastyworks
(Offer expires 8/31/2022)

For additional eligibility requirements and all details, see the Official Terms and Conditions at info.tastyworks.com/get200.

tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with Jim Wang Enterprises, LLC (“Marketing Agent”) whereby tastyworks pays compensation to Marketing Agent to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastyworks and/or any of its affiliated companies. Neither tastyworks nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastyworks does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website.

💸 Ally Invest – up to $3,000

Ally Invest Logo

Ally Invest is the online brokerage account I use because they offer free trades (U.S. stock, ETFs, and options) with no minimums and monthly balance requirements. I have an Ally Bank account so managing it all with one login is convenient too.

I wish I would’ve taken advantage of their new account bonuses for transfers because it’s one of the most generous.

Here is the schedule based on how much you deposit within 60 days of account opening:

Deposit or Transfer
Your Bonus
$10,000 – $24,999$100
$25,000 – $99,999$250
$100,000 – $249,999$300
$250,000 – $499,999$600
$500,000 – $999,999$1,200
$1,000,000 – $1,999,999$2,000
$2,000,000 or more$3,000

This promotion is valid for one new Ally Invest Securities LLC account, Ally invest Advisors Robo Portfolios are not eligible.

They will also credit transfer fees if you move your account from another brokerage – $75 ACAT fee reimbursement.

(here is our full review of Ally Invest)

Learn more about Ally Invest

💲 Webull – up to 12 free stocks

Webull is a free trading app from Webull Financial. They are a brokerage based out of New York City and regulated by FINRA, you can look them up on BrokerCheck. We have a full review of Webull and their offer here.

For new signups, open an account and they will give you up to 12 free stocks. They have no fees and no account minimums so it’s truly free stock. We consider them one of the best Robinhood alternatives.

  • Get 2 free stock ($3 - $300) when you open an account,
  • Deposit any amount to receive 4 - 10 free fractional share stocks each valued $7-$3000

Webull also now has a transfer bonus too, based on this schedule (details):

Net Incoming
Account Value
Your Perks + Bonus
$2,000 – $4,999Transfer fee reimbursement ($75)
$5,000 – $24,999Transfer fee reimbursement ($75) +
$80 of AAPL fractional shares
$25,000 – $249,999Transfer fee reimbursement ($75) +
$200 of AAPL fractional shares
$250,000+Transfer fee reimbursement ($75) +
$600 of AAPL fractional shares
Check the terms to see how long you have to keep the funds in your Webull account for this promotion.

Get your free stock from Webull

💲 Robinhood – Free Stock + up to $600

Robinhood is a no-commission fee brokerage that will give you Free Stock + up to $600 when you open an account and link a bank account. There are no other requirements of the offer, you just need to open an account. No deposit (for the stock, you need to deposit for the cash), no transfer, no nothing.

The cash bonus on the deposit is based on this schedule:

Deposit AmountBonus Amount
$1,000 – $9,999$25
$10,000 – $49,999$100
$50,000 – $99,999$300

You can read more about the free share of stock promotion here.

Get Free Stock + up to $600 from Robinhood

Here is also how Robinhood compares to Webull.

Yieldstreet – up to $500

Yieldstreet isn’t a traditional brokerage account where you can trade securities like stocks and bonds, it’s an investment platform where you can invest in alternative investments that offer up cash flow. It’s similar to a brokerage (closer to a brokerage than a traditional bank, for example) in that it’s investment focused, which is why we included it on this list.

You can get a bonus based on how much you deposit into your account:

  • Get $50 when you deposit $1,000 – $4,999.99
  • Get $250 when you deposit $5,000 – $9,999.99
  • Get $500 when you deposit $10,000+

If you wish to learn more about Yieldstreet before signing up, our detailed review of Yieldstreet has more.

Get up to $500 from Yieldstreet

J.P Morgan Self-Directed Investing – up to $625

J.P. Morgan Self-Directed Investing has a bonus offer based on how much you deposit into a new account within 45 days. If you can meet the amounts, it’s a decent offer with a relatively low cap (compared to others).

Just have to take advantage by 7/14/2022.

The tiers are:

Deposit AmountBonus Amount
$25,000 to $99,999$125
$100,000 to $249,999$300
$250,000 or more$625

Get your bonus from J.P. Morgan


Axos Invest – $200

Axos Bank has long been a popular bank because of their Axos Bank promotions but now you can get cash for opening a new Self-Directed Trading account!

It’s a bundled promotional offer too – open an account and make a qualifying deposit of $2,500 and make one trade – get $200. Then, also open an Axos Rewards Checking account with promo code LEVELUP and  move $1,500 in monthly direct deposits to your new Rewards Checking account. Bonus is deposited in 4 months.

This is an increase from their previous promotion (which was $100 when you deposited $2,500) so I’d jump on this while it’s available. They change this offer around throughout the year but this is a good one.

As a brokerage, they have no annual fees and no inactivity fees, commission-free trading on eligible stocks and ETFs. You also get 12 months of Axos Elite Membership, which includes margin trading, extended market hours, and more.

Get $200 from Axos Invest

Moomoo – up to $25,000 in stock

Moomoo is the cutely-named brokerage app of Futu Inc., a brokerage that’s been in business since 2015 and regulated by the U.S. Securities and Exchange Commission. They are also a no commission brokerage just like Webull and Robinhood and Moomoo is offering you free shares of stock when you open an account.

You get stock when you:

  • Open a brokerage account and get 1 free stock, valued between $3 - $2,500.
  • Fund your account with $100+ and get 6 free stock, valued between $5 - $2,500.
  • Fund your account to $2,000+ and get 3 free stocks, valued between $10 - $2500.

Get a free share of stock

M1 Finance – up to $500 [EXPIRED]

M1 Finance is self-directed robo-advisor that facilitates investing by letting you invest in “pies,” or baskets of stocks. You can build your own pie or pick from one of several “Expert Pies” based on your risk tolerance and investment goals. The most surprising part is that it’s completely free, they make money through other financial products (interest on margin, transaction fees on their debit card) and sale of order flow (same as Robinhood and other free brokerages).

They have a new account bonus based on how much you deposit:

Deposit AmountYour Bonus
$1,000 – $4,999.99$30
$5,000 – $9,999.99$75
$10,000 – $29,999.99$150
$30,000 – $49,999.99$300
$50,000 or more$500
[NOTE: This offer has expired]

Here is our full M1 Finance review for more on the service.

Learn more about M1 Finance

TradeStation – up to $5,000

TradeStation has a new account bonus where you can get $150 in cash or $150 in Bitcoin.

To get $150 cash, open an account with the promotion code TSTVAFYB and then fund that account with $500 or more. Then maintain that balance to get the cash deposited in two $75 deposits. The first will be made at the end of the second full month and the second payment will be made at the end of the third full month.

To get $150 in Bitcoin, open an account with the promotion code TSTVAFYH and then deposit $500 worth of crypto (or purchase $500 worth of crypto). Then maintain that balance to receive two $75 worth of Bitcoin payments.

It’s very important you put in the right codes for whatever promotion you want.

Learn more about this offer

There is also a transfer bonus of up to $5,000 when you transfer in a sizable $5 million. The bonus schedule does start at $5,000 (lower than many on this list) so it’s not just for moneybags!

Cash RewardQualifying Assets

Tornado – up to $1,000

Tornado has a referral program where you can get up to $1,000 (but at least $10) when you sign up. The referring customer gets $10 to $1,000 too – and it’s a limited time offer. If you’ve never heard of them before, our Tornado review can get you up to speed.

The only requirement is that you make one trade within a month and you can keep the bonus, which you can withdraw after a year. There are no other requirements for the new account bonus.

There is also a deposit bonus. For a limited time, after you open your account, you can get a bonus based on what you deposit. You need to maintain this amount for one year to keep the deposit bonus.
Deposit Bonus

See the offer at Tornado

E*TRADE – Up to $3,500

E*TRADE logo

When I think of new account promotions, I think of E*TRADE.

For years, they had an offer where you could get up to $3,000 (if you had over a million dollars in assets to transfer!) and 60 days of free trades if you open a non-retirement brokerage account.

With the recent rush of brokerages offering free trades, the promotion is now just cash – remember to use the promotion code BONUS22.

You can find the full details here but this is the offer:

Deposit AmountBonus Amount
$5,000 – $19,999$50
$20,000 – $49,999$100
$50,000 – $99,999$200
$100,000 – $199,999$300
$200,000 – $499,999$600
$500,000 – $999,999$1,200
$1,000,000 – $1,499,999$2,500
$1,500,000 or more$3,500

They also offer a bonus if you simply add to your existing E*TRADE account – that bonus is even higher (the highest tier is $2mm).

Learn more about E*Trade

SoFi Invest – $25

SoFi Invest is the brokerage arm of SoFi, the student loan refinancing company. They’ve recently branched out into other areas, including SoFi Money (banking), and they are now offering a $25 bonus if you sign up and deposit at least $100.

With SoFi Invest, you can manage your portfolio (Active Investing) or go with a roboadvisor approach (Auto Investing). With Active Investing, you can invest in stocks, cryptocurrencies, and ETFs without paying a trading commission.

For a limited time, get $50 in stock from SoFi Invest if you sign up with a referral link and deposit at least $100. There’s no trading requirement.

Residents of New York, Florida, and New Jersey can take advantage of broker promotion by Popular Bank. Popular Bank will give you up to $1,000 if you open a new brokerage account (in branch) and deposit funds of at least $50,000. The bonus is based on this schedule:

  • Get $200 bonus when you deposit $50,000 in qualifying assets
  • Get $600 bonus when you deposit $200,000 in qualifying assets
  • Get $1,000 bonus when you deposit $500,000 in qualifying assets

Then maintain that balance for at least 90 days and you will get the bonus. If you have a Popular Bank deposit account, you’ll get the bonus deposited into your account. If you don’t, you will receive a check. This applies for brokerage accounts, mutual fund brokerage accounts, IRAs and SMAs.

Learn more about this promotion

(No expiration shown)

Citi Personal Wealth Management

Citi Personal Wealth Management has a juicy bonus offer when you transfer New-to-Citi funds within 2 months of opening an account. You also will need to enroll in e-delivery of statements and then keep those funds in the account through the end of the next month (or three months after the month of account enrollment). Bonus will be credited three months after you meet the maintenance requirement.

Here’s the Citi bonus transfer schedule:

  • Fund with $50,000 – $199,999 – $500
  • Fund with $200,000 – $499,999 – $1,000
  • Fund with $500,000 – $999,999 – $1,500
  • Fund with $1,000,000 – $1,999,999 – $2,500
  • Fund with $2,000,000 or more – $3,500

See the offer at Citi
(Offer expires 3/31/22)

Merrill Edge – up to $750

Merrill Edge, a Bank of America Company, will give you up to $750 if you open a new Merrill Edge account using the offer code 750ME. You just need to transfer your funds within 45 days, maintain that balance for 90 days, and you will get the cash bonus in 2 weeks. This bonus applies to individual Merrill Edge IRAs or Cash Management Accounts, which is what they call their taxable brokerage accounts.

Here’s the Merrill Edge bonus transfer schedule:

Qualifying AssetsCash Bonus
$5,000 – $19,999$50
$20,000 – $49,999$125
$50,000 – $99,999$200
$100,000 – $199,999$350
$200,000 or more$750

See the offer at Merrill Edge

Charles Schwab – $101 in stock

Charles Schwab Logo

Charles Schwab is offering new investors a “Schwab Starter Kit” that includes $101 in stock split up between the top five stocks (“slices”) in the S&P 500. You also get access to investing education and various tools and resources.

To get this, you need to open an account on the promotional page and then fund that account with at least $50 in 30 days. The stocks are “Schwab Stock Slices,” which are simply fractional shares of stock, and you get them on the next trading day.

At the time of this writing, the top five stocks at Amazon, Microsoft, Tesla, Alphabet (Google), and Apple.

See the offer at Charles Schwab

(No expiration shown)

Fidelity Account – $100 Cash

Fidelity has a new promotion where you can get $100 for opening a Fidelity Account, Cash Management Account, Roth or Traditional IRA. All you have to do is deposit $50 or more within 15 days and you’ll get the $100 within 25 days of opening your account.

The promo code is FIDELITY100 and the offer has no shown expiration date. It is limited to one offer per customer and US residents.

What’s important to note is that existing customers are eligible as long as you open an eligible account and meet the requirements. Finally, you must keep the $100 cash reward in the account for a minimum of 90 days.

Learn more about this offer

Fidelity Spire – $50 Promotion

fidelity logo

Fidelity has an offer where you open an account and link a goal in the Fidelity Spire app to get $50 cash. Just open a qualified account, set up a monthly deposit of $50 or more and keep it for 6 months, and you’ll get $50 towards that goal.

If your monthly deposit is $10-$24.99, you get $10. For $25 – $49.99, you get $25.

Here are other Fidelity promotions you might want to check out.

You can learn more here.

(Offer does not list an expiration date)

Frequently Asked Questions

Here are some frequently asked questions about bonuses and the brokerage transfer process.

How do brokerage transfers work?

Almost every brokerage firm supports ACATS, which stands for Automated Customer Account Transfer Service, which lets you transfer your assets “in-kind.” This means that your holdings are transferred without you having to sell them (and create a taxable event). If you have big unrealized gains in a stock, the shares just get moved over without you having to sell them and you keep the same cost basis.

You may run into hiccups if some items can’t be transferred. One common example is Vanguard Admiral shares of their mutual funds. Some brokerages will take them, others won’t. In these cases, you may have to transfer them to another asset type (like the ETF version), which will accept them.

ACATS does take a week or two to complete the transfer.

Is it worth it to switch brokerages?

I don’t think it’s worth switching from broker to broker, grabbing up the bonuses, but the process isn’t difficult.

If you’re looking to make a move anyway, getting paid a little for the effort is better than not being paid.

Some brokers may charge you to leave, which is something you’d be paying anyway, so hopping around may reduce your returns from the bonus perspective.

How are the brokerage bonuses taxed?

If you are creating new taxable brokerage accounts, the bonuses will be reported as income and you will have to claim them on your taxes as income.

If you are creating retirement accounts, like an IRA, the bonuses are going into those accounts so you won’t owe taxes on them immediately. For traditional IRAs, you’ll just be taxed when you start taking distributions. Roth IRAs will never be taxed. For each account, review the terms and conditions to see how the brokerage is treating it and you’ll know for certain.

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About Jim Wang

Jim Wang is a forty-something father of four who is a frequent contributor to Forbes and Vanguard's Blog. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money.

Jim has a B.S. in Computer Science and Economics from Carnegie Mellon University, an M.S. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life.

One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.

He is also diversifying his investment portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and farms in Illinois, Louisiana, and California through AcreTrader.

Recently, he's invested in a few pieces of art on Masterworks too.

>> Read more articles by Jim

Opinions expressed here are the author's alone, not those of any bank or financial institution. This content has not been reviewed, approved or otherwise endorsed by any of these entities.

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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

    • Jim Wang says

      It’s my email reversed but it’s supposed to flip it visually on the screen using CSS – it’s just my name (Jim) at wallethacks dot com.

  1. Marco says

    Hi Jim. You might think about removing YieldStreet from your list of recommendations. I attempted to open an account and transfer $10,000 in order to participate in the $500 promotion on 07/07/21. Their system said the funds would clear on 07/15/2021. However, the deposit never occurred. They don’t answer their customer service phone number giving some generic message that due to Covid19 they ask to email them instead and then they don’t respond to the email either. I emailed them 7 days ago and have yet to get a response. They have this feature that you can schedule a 15 minute call with an advisor assigned to your account, but the earliest appointment that can be scheduled is several days into the future. This is not how a financially responsible institution handles their business. This prompted me to further investigate the company and I was alarmed to discover that they have several class action lawsuits against them for not properly vetting their borrowers and their investors are losing all of their investment. Their rate of default is much worse than what they publish. In fact, you have LESS risk investing in JUNK bonds than you do with their investment vehicles. Learn from my experience and RUN away from this one.

  2. Gary Grewal says

    I always say, bank and brokerage account bonuses are easy ways for a DIY stimulus check for those of us that didn’t make the cut! Thanks for always updating so thoroughly Jim .

  3. Wendy says

    Good morning.
    Please let me know if TradeStation is a legitimate company, how does it compare with Schwab and Fidelity?

    • Jim Wang says

      They’re legit, they were founded in 1982 and regulated by the SEC and FINRA. Their parent company is Monex Group.

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