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.
| Robinhood | 1 to 3% on IRA/401(k) contributions and 1% on transfers. |
| Public | $5,000 deposit for a $150 bonus. |
| TradeStation | $500 deposit for a $50 bonus. |
| E*TRADE | $1,000 deposit for a $100 bonus. |
| M1 | $10,000 deposit for a $75 bonus. |
| SoFi | $1,000 deposit for a $25 bonus |
| Charles Schwab | $25,000 deposit for a $100 bonus. |
| Citi Self-Invest | $10,000 deposit for a $100 bonus. |
| J.P. Morgan | $5,000 deposit for a $50 bonus. |
| Citi PWM | $50,000 deposit for a $500 bonus. |
#1. Robinhood
Robinhood offers a 3% IRA match for Gold members (and a 1% match for members with free accounts) on new contributions.
Gold costs $5 per month, and there is no cap on match earnings.
Additionally, you can earn a 1% match on IRA transfers and 401(k) rollovers. This offer is only available through June 28th, 2024.
| Deposit Amount | Bonus |
| $10,000 | $100 |
| $50,000 | $500 |
| $100,000 | $1,000 |
| $1 million | $10,000 |
Rules and considerations:
- Matched contributions must stay in the IRA for five years to retain the bonus funds.
- Gold members must keep their subscription for one year after earning their first 3% match to keep the full amount.
- These bonus funds are classified as taxable interest income.
Robinhood does not offer mutual funds or robo-advisor-like services, but you can access most publicly traded ETFs, such as Vanguard’s Retirement Fund ETFs (which can be a one-stop solution for retirement savings).
#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 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.
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. 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.
Their current promotion allows new customers to earn a one-time cash reward based on the amount of their initial deposit. To claim the bonus, you must enter the promo code FNMZAGAO during the sign-up process!
| Cash Reward | Qualifying Assets |
| $50 | $500 |
| $250 | $25,000 |
| $400 | $100,000 |
| $800 | $200,000 |
| $3,000 | $1,000,000 |
| $5,000 | $2,000,000 |
The cash reward will be deposited into your account the month following a 270-day holding period.
The offer is only available for Entity (non-institutional), Individual, or Joint equities and futures accounts.
IRAs and other tax-qualified accounts are not eligible. Additionally, the assets must be new to TradeStation, and any withdrawals or redeposits during the holding period will disqualify the account.
#4. E*TRADE
E*TRADE, now part of Morgan Stanley, is a well-established online broker known for its user-friendly platform, extensive research, and educational resources.
Until 7/31/2024, E*TRADE offers a cash bonus of up to $1,000 for new customers who open and fund a new eligible brokerage account. The cash bonus will be credited to the account based on qualifying deposits made within 60 days of account opening.
| Deposit Amount | Bonus |
| $1,000–$24,999 | $100 |
| $25,000–$49,999 | $150 |
| $50,000–$99,999 | $200 |
| $100,000–$199,999 | $300 |
| $200,000–$499,999 | $600 |
| $500,000+ | $1,000 |
To take advantage of this offer:
- Open a new eligible E*TRADE brokerage account by July 31, 2024.
- Enter promo code ‘REWARD24‘ when opening the account. This code can only be used once for one account.
- Fund the new account within 60 calendar days of account opening with at least $1,000 in new funds or securities from external accounts.
This offer is only valid for new, non-retirement brokerage accounts.
#5. M1
M1 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 review.
The current bonus structure is as follows:
| Deposit Amount | Bonus |
| $10,000 to $29,999 | $75 |
| $30,000 to $49,999 | $150 |
| $50,000 to $99,999 | $250 |
| $100,000 or more | $500 |
Important items to note are:
- Available only to new M1 users who have never registered an M1 account.
- You must deposit within the first 14 days of creating your account.
- Retirement accounts and direct 401(k) rollovers are not eligible.
- The bonus is credited on the last day of the month, six months after the account was created, provided that the deposited funds remain in the account until then, without any external or internal transfers.
Visit M1 to learn more.
#6. SoFi
SoFi Invest is an all-in-one investing platform that’s easy to use and offers a variety of investment options.
SoFi Invest offers a bonus for transferring investments from another brokerage firm into a taxable SoFi Invest Active brokerage or Active retirement account (Traditional, Roth, or SEP IRA).
The bonus amounts are based on the total net dollar amount of settled transfers from another brokerage to an individual SoFi Invest account during each calendar month.
Here’s how the bonus structure breaks down:
| Transfer Amount | Bonus |
| $5,000-$25,000 | $100 |
| $25,000-$100,000 | $200 |
| $100,000-$250,000 | $500 |
| $250,000-$500,000 | $750 |
| $500,000-$1,000,000 | $1,000 |
| $1,000,000-$5,000,000 | $2.500 |
| $5,000,000 + | $10,000 |
Bonuses will be paid within 14 days of the last day of the month in which the transferred assets are settled in your SoFi Invest account. Assets are required to remain in your SoFi account for 180 days.
SoFi offers a variety of bonuses, and participating in this promotion does not disqualify you from earning any other bonuses available.
#7. 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.
Once you use the link to sign up and become a client, you may qualify for a bonus of 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 must make a qualifying deposit within 45 days of opening an account. Once opened, the account will be reviewed, and the bonus will be credited within about a week.
#8. 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 30, 2024, and applicants must fund their Citi Self Invest account with a minimum of $10,000 within the account funding period to qualify. 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.
#9. J.P. Morgan Self-Directed Investing Account
J.P. Morgan is currently offering a bonus promotion for new customers who open a self-directed investing account. This offer is available to those opening general investment, traditional IRA or Roth IRA accounts.
The bonus you earn is based on the amount of new money you transfer into your account.
| Initial Deposit | Bonus |
| $5,000 to $24,999 | $50 |
| $25,000 to $99,999 | $150 |
| $100,000 to $249,999 | $325 |
| $250,000 and more | $700 |
To qualify for this offer, you need to:
- Open a J.P. Morgan self-directed investing account through the offer page.
- Fund your account with new money within 45 days. Assets transferred from J.P. Morgan Chase or its affiliates are not eligible.
- Keep the new money balance in the account for 90 days
The cash bonus will be credited to your account within 15 days of meeting these requirements.
#10. Citi Personal Wealth Management Account
Citi currently offers a bonus promotion for new or existing customers who fund a Citi Personal Wealth Management account. The bonus you can earn is based on the amount of new money you transfer into your account.
Note this account comes with a Citi Personal Wealth Management financial advisor, along with fairly hefty fees. For the first $500,000, you’re charged a 2% AUM fee.
| Deposit Amount | Bonus |
| $50,000 to $199,999 | $500 |
| $200,000 to $499,999 | $1,000 |
| $500,000 to $999,999 | $2,000 |
| $1 million to $1.99 million | $3,000 |
| $2 million and more | $5,000 |
To qualify for this offer, you need to:
- Fund your account with a minimum of $50,000 of new-to-Citi funds.
- Enroll or maintain enrollment in e-delivery of statements.
- Keep the new-to-Citi funds in your account through the deadline
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.
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.
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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).