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11 Best New Brokerage Account Promotions & Bonus Offers – April 2020

As a savvy consumer, you’re no doubt aware dozens of banks and credit unions entice new business with account-opening promotions. Some reward first-time customers with bonuses worth hundreds of dollars just for opening an account and making qualifying deposits. The best land on our regularly updated roundup of the top new bank account promotions.

You’ve probably seen credit card issuers get in on the action too. Many of the best cash-back credit cards and travel rewards credit cards come with irresistible welcome offers, the best of which rival the most generous new bank account promotions.

If it’s been years since you switched brokerages or you’re entirely new to investing, you might be unaware America’s top self-directed and managed investment platforms also offer impressive new-account bonuses. Top-tier new brokerage account promotions dwarf the leading bank and credit card promotions — promising thousands to new customers bringing substantial assets to the table.

Best New Brokerage Account Promotions (April 2020)

These are the best new brokerage account promotions for this month. All are subject to change, so check back often for updates.

1. Ally Invest — Up to $3,500 Cash Bonus

Open a new self-directed account with Ally Invest by December 31, 2020, and make a qualifying deposit of new money or assets to earn up to $3,500 bonus cash. The bonus thresholds are:

  • $50: Deposit $10,000 to $24,999 in new funds or assets.
  • $200: Deposit $25,000 to $99,999 in new funds or assets.
  • $300: Deposit $100,000 to $249,999 in new funds or assets.
  • $600: Deposit $250,000 to $499,999 in new funds or assets.
  • $1,200: Deposit $500,000 to $999,999 in new funds or assets.
  • $2,500: Deposit $1,000,000 to $1,999,999 in new funds or assets.
  • $3,500: Deposit $2,000,000 or more in new funds or assets.

To qualify for the bonus, you must fund the account within 60 days of opening. Once Ally Invest credits the bonus to the account, the combined bonus and qualifying deposit (less any trading losses) must remain in the account for 300 days. Otherwise, Ally Invest reserves the right to revoke the bonus.

Deposited funds must come from accounts that aren’t Ally or Ally subsidiary accounts. You must fund the new account with a minimum qualifying deposit of $10,000 or more to qualify for the minimum cash bonus.

The bonus is available to U.S. residents, excluding current Ally Invest account holders, and Ally Invest account holders who closed their accounts within 90 days of applying.

Separately, Ally Invest credits up to $150 in transfer fees charged by other brokerages when you complete a first-time account transfer totaling $2,500 or more. That credit hits your account within 30 days of the transfer.

For more information, read our Ally Invest review. To learn more about Ally Bank, Ally Invest’s parent institution, check out our Ally Bank review.

Sign Up


2. E-Trade — Up to $3,000 Cash Bonus

Open a new E-Trade Securities nonretirement brokerage account by April 30, 2020, to earn up to $3,000 bonus cash. The bonus thresholds are:

  • $100: Deposit or transfer $5,000 to $24,999 in new money.
  • $200: Deposit or transfer $25,000 to $99,999 in new money.
  • $300: Deposit or transfer $100,000 to $249,999 in new money.
  • $600: Deposit or transfer $250,000 to $499,999 in new money.
  • $1,200: Deposit or transfer $500,000 to $999,999 in new money.
  • $3,000: Deposit or transfer $1,000,000 or more in new money.

You must transfer or deposit new funds or securities within 60 days of enrollment. All deposited or transferred funds must come from accounts outside E-Trade and remain in the account (less any trading losses) for at least 12 months.


3. M1 Finance — Up to $2,500 Transfer Bonus

Open a new M1 Finance account and initiate an account transfer within 60 days to earn a transfer bonus of up to $2,500. The bonus thresholds are:

  • $250: Transfer an account worth $100,000 to $250,000.
  • $500: Transfer an account worth $250,001 to $500,000.
  • $1,000: Transfer an account worth $500,001 to $1,000,000.
  • $2,500: Transfer an account worth more than $1,000,001.

Your new M1 Finance account type must match your old account type. The offer isn’t valid on ACH deposits, wire transfers or direct 401k rollovers. Once the transfer is received, you’ll receive payment within 90 days.

Sign Up


4. Webull — Free Stocks Up to $1,650 Total Value & $100 Transfer Fee Reimbursement

Open and fund a new Webull account with at least $100 to get 2 free stocks with a combined value up to $1,650. Or, transfer funds or assets from an existing brokerage account and receive up to $100 in reimbursed transfer fees. Here’s how these promotions work:

Account Opening Bonus

Begin your account opening process by April 16, 2020, and finish within 24 hours of starting to receive a free stock valued between $2.50 and $250 per share. The odds of receiving a stock valued at the lower end of this range are very high, but you’re free to sell or hold your stock after the transaction settles.

Deposit Bonus

Make an initial deposit in any amount to your new account to claim a free stock valued between $12 and $1,400 per share. Again, the likelihood of receiving a stock valued on the lower end of this range is very high. Note that deposits may take up to 5 business days to settle.

Transfer Fee Reimbursement

Make an initial transfer of $2,000 or more and receive reimbursement for up to $100 in account transfer fees charged by your former brokerage. The transfer must be completed during the promotional period.

Sign Up


5. Robinhood — Up to $200 in Free Stock

Open a new Robinhood account and to get up to $200 in free stock. Here’s how it works:

  • Apply for a new Robinhood brokerage account and get approved.
  • Robinhood adds 1 free share of stock worth between $2.50 and $200 per share, chosen randomly from its inventory of settled shares.
  • You can hold the share indefinitely or sell it after 2 trading days.

Bear in mind that you may not receive the same stock as other applicants and your share’s value may fluctuate with market movements.

Sign Up


6. SoFi Invest — Up to $25 in Free Stock

Get up to $25 in free stock, including fractional shares (Stock Bits), when you open and fund a new SoFi Invest account. To earn the bonus, simply fund your account with as little as $1 to start and choose your free stock from more than 100 choices. You’ll receive your free stock shares or Stock Bits within 10 business days.

For more information, read our SoFi review.

Sign Up


7. Betterment — Up to 1 Year Managed Free

Get up to one year managed free when you open a Betterment account and make a qualifying deposit within 45 days. Bonus thresholds are:

  • 1 Month Free: Fund your account with $15,000 to $99,999 within the qualification period.
  • 6 Months Free: Fund your account with $100,000 to $249,999 within the qualification period.
  • 12 Months Free: Fund your account with $250,000 or more within the qualification period.

You can’t combine this offer with any other promotions, and it’s available to U.S. residents only.

For more about Betterment’s benefits, check out our lists of the best high-yield savings accounts and cash management accounts on the market today.

Sign Up


8. TD Ameritrade — Up to $1,500 for TD Bank Customers

If you’re an existing TD Bank customer, you can earn up to $1,500 bonus cash and a transfer fee credit up to $150 when you open a new TD Ameritrade account. Bonus thresholds are:

  • $50: Fund your account with $10,000 to $49,999 in new money or assets.
  • $200: Fund your account with $50,000 to $99,999 in new money or assets.
  • $500: Fund your account with $100,000 to $249,999 in new money or assets.
  • $1,000: Fund your account with $250,000 to $499,999 in new money or assets.
  • $1,500: Fund your account with $500,000 or more in new money or assets.

To earn the cash bonus, you must register for this offer and open your account by Dec. 31, 2020. You must fund your account within 180 days of opening. The account value must remain equal to or greater than the net balance after funding (less any market losses) for 12 months.

You can receive the transfer fee credits for any account transfer worth $10,000 or more. You must complete the transfers within 180 days of account opening.

Sign Up


9. You Invest by J.P. Morgan — Up to $625 Cash Bonus

Open and fund a You Invest Trade account with You Invest by J.P. Morgan before April 20, 2020, to earn a cash bonus worth up to $625. The bonus thresholds are:

  • $200: Fund your account with $25,000 to $99,999 in new money or assets.
  • $300: Fund your account with $100,000 to $249,999 in new money or assets.
  • $625: Fund your account with $250,000 or more in new money or assets.

To earn the bonus, you must complete account funding within 45 days of account opening. Maintain the funding balance in your account for 90 days from the date of funding, and you’ll receive the bonus within 10 business days.

The qualifying new money can’t take the form of existing deposits or funds or securities you hold in any account with J.P. Morgan or its affiliates. You’re eligible for just one You Invest, Chase Private Client Checking, or Chase Sapphire Checking bonus in any 12-month period. Other restrictions may apply.

Sign Up


10. Charles Schwab — Up to $500 Cash Referral Bonus

Open a new qualifying Charles Schwab account with a qualifying referral from an existing Schwab client to earn a cash bonus of up to $500.

To qualify, ask a friend or family member with a Schwab account to send you their unique referral code. Then use the code to open a new Schwab account with an initial deposit or deposits totaling at least $1,000. Make one or more qualifying deposits within 45 days of your account opening date, and you’ll receive your cash bonus about a week later.

Your bonus amount depends on how much you deposit during the 45-day qualifying period:

  • $100: Deposit $1,000 to $24,999 in new money or assets.
  • $200: Deposit $25,000 to $49,999 in new money or assets.
  • $300: Deposit 50,000 to $99,999 in new money or assets.
  • $500: Deposit 100,000 and above in new money or assets.

Once your account is open, monthly fees may apply. Multiple members of the same household may qualify for bonuses individually, as long as they open separate Schwab accounts.

Sign Up


11. Nvstr — Up to $1,000 Cash

Open a new Nvstr account using this link to earn up to $1,000 in cash. There’s no minimum funding threshold or other hoops to jump through — just open your account, and Nvstr rewards you with $10 to $1,000 cash.

There is one catch: Nvstr chooses your reward amount at random, and it’s impossible to predict how much you stand to receive. Once the bonus is in your account, you must make at least one trade within three months and keep the bonus funds on deposit for a full year.

The cash offer is available to new Nvstr users on live trading accounts only. Simulated trading accounts aren’t eligible.

Sign Up


Final Word

If you’re a satisfied investor, you’d be forgiven for feeling no urgency to switch brokerages. Why fix something that’s not broken?

But the prospect of earning hundreds or thousands of dollars is often reason enough.

Most of these brokerages take pains to ensure their new-account bonuses qualify as easy money. In many cases, moving assets to a newly opened account requires little more than completing an account application and authorizing an electronic funds transfer or asset rollover, a process that’s quick and painless enough to complete in a spare 15 minutes.

Even if you’re not ready to take advantage of these brokerage account bonuses, it still pays to add a review of the top brokerage promotions to your due-diligence to-do list for whenever you’re ready to start investing.

Are you planning to open a new brokerage account? Did any of these promotions convince you to switch?

Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

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