With so many different brokerages out there, many offer bonuses to their clients for a competitive edge. These capital bonuses can be added to your trading account with that broker.
Often, the lure of a bonus may come with a catch or possible risk. How do you know which broker to choose that offers the best bonus?
Follow our guide below for an overview of the top brokerage account promotions and offers.
If you are a new trader that wants to get the highest returns possible with minimal starting capital available, then considering an account bonus is a good idea. We have selected the top brokers below that offer account bonuses for beginner traders. These are our top picks:
- TD Ameritrade – Best Broker Bonus Overall
- Robinhood – Best Bonus for Retail Clients
- Merrill Edge
- SoFi Invest
- Charles Schwab
- M1 Finance
- Ally Invest
1. TD Ameritrade – Best for Brokerage Bonus Overall
TD Ameritrade is a popular US broker that suits a wide range of investors. They offer a diverse portfolio and range of trading instruments for all kinds of people. TD Ameritrade offers account bonuses between $350 to $2500.
These bonuses are applied to brokerage and retirement accounts, and the one-time bonus amount depends on how much capital you initially invest. Just be aware that the account minimums for this are fairly high.
TD Ameritrade offers a high-quality trading platform with great resources and trading tools. Traders can enjoy no commission on ETF, mutual fund, and stock trading.
|A high-quality trading platform||High account minimums to access bonuses|
|Offers a simple one-time bonus structure|
|A wide range of investment opportunities available|
|Commission-free online trading|
Robinhood is one of the most popular mobile trading platforms offering stocks, options, ETFs, and crypto. Robinhood bonus offers free stock to traders, valued from $3 to $250. There is no entry barrier, making this an excellent bonus system for beginner traders.
Robinhood’s trading instruments include fractional shares. The mobile app is incredibly easy to use, and deposits are instant. Funds can be instantly accessed after traders close their positions. This platform is particularly appealing to new investors.
|Easy to receive their bonuses||Bonuses offered in stocks, not cash|
|A very user-friendly trading platform||Not the best platform for experienced investors|
|The bonus system appeals to new investors||Limited research tools and educational resources|
|A well-ranged portfolio is available to investors|
3. Merrill Edge
Merrill Edge is a brokerage that offers four different account bonuses, ranging from $150 to $900. To qualify for this, traders will need to open cash management or Edge IRA account and make a deposit within 45 days. This needs to be done with a special account opening code to enroll in the bonus program. Account-holders can only have two enrolled accounts (one IRA and one cash management).
Merrill Edge is an online trading platform that offers diverse investment opportunities for traders. There are various useful tools and research opportunities for traders to enjoy. This is also a great brokerage for beginner stock traders due to the low fees. Merrill Edge is one of the best brokerage options for Bank of America clients.
|Two account bonuses can be accessed by each trader||Bonuses require large deposits|
|A diverse investment portfolio available||Merrill Edge is limited to US markets and traders|
|A high-quality online trading platform|
|Includes great tools and research|
|Low fees and commissions – especially for Bank of America customers|
SoFi Invest is one of the best brokers for beginners due to it being a very inexpensive broker. This brokerage offers simple $10 bonuses to crypto traders. Traders need to sign up on SoFi Invest and buy $10 worth of cryptocurrency. In return, you will receive $10 worth of Bitcoin.
This is one of the most easily accessible bonus options for new traders. SoFi Invest offers a powerful trading platform, with features like automated Robo-advisors, fractional shares, retirement accounts, active investing, and more.
SoFi Invest allows you to trade stocks, crypto, and ETFs. The platform is very user-friendly and offers a variety of useful trading tools.
|Easy to access the bonus||The bonus is relatively low|
|Suitable for low-capital traders||Bonus only available in crypto trading|
|Easy to get started on the platform|
|Offers a range of useful trading features|
5. Charles Schwab
Charles Schwab is a large online broker that appeals to all levels of investors. This brokerage offers a referral bonus for any new traders with a referral code provided by existing Charles Schwab clients. The broker offers four different bonus options ranging from $100 to $500.
The bonus applies to Charles Schwab IRAs and retail brokerage accounts. If clients deposit at least $1000 within 45 days, they can access the bonus.
Charles Schwab offers low trading fees and free deposits and withdrawals. ETF and stock trading are free, and there are superior research tools available.
|Easy to open an account and get started||Market access could be better|
|Bonuses up to $500 available||Relatively high deposit amounts to access bonuses|
|Great research tools||Mutual funds have high fees|
|Stock and ETF trading is free|
6. M1 Finance
M1 Finance is an online stock broker that caters to both banking and investing. This brokerage offers account bonuses ranging from $250 to $2500. This is an introductory transfer bonus that can be accessed by any investor moving their portfolio across to M1 from another brokerage.
This is a tiered bonus system with bonuses starting from investments worth $100,000. M1 Finance offers commission-free trading. You can trade in a wide range of securities through this Robo-advisor.
|Cashback rewards available||Requires large portfolio amounts to earn a bonus|
|Commission-free trading||There are no actual financial advisors/financial help available|
|Trade fractional shares||Bonuses aren’t available for new investment portfolios – only transfers|
|No trading or asset management fees|
|Allows for flexible portfolio building|
Betterment is also a Robo-advisor that offers investing and banking services. This brokerage has bonuses available in the form of free accounts. The offer works based on a tier system around the account deposit amount. The more you deposit, the more time you get a free account for.
Betterment offers a premium plan for serious investors. This broker is a great option for beginner traders, as the platform is easy to use and there is plenty of quality educational content available. Opening an account is easy, and there are great goal-tracking tools.
|Quick and easy to set up an account||No cash bonus available – only free accounts|
|A very user-friendly trading platform|
|Fully transparent portfolios|
|Diverse portfolios available|
8. Ally Invest
This online bank and brokerage offer particularly large bonuses to new clients. Investors that open an account and make a deposit of $10,000 are eligible for a bonus. The bonus can go up to $3500.
Ally Invest offers trading in ETFs, options, and US exchange-listed stock. There are no commissions and fees are very low. There are very high-yield ETFs available from market leaders. The wide selection of ETFs allows for a diverse portfolio.
|Very large bonuses available||Bonuses require large sums of capital|
|Self-directed trading and fully managed portfolios||Trading is limited to US markets|
|A wide selection of ETFs|
This brokerage is appealing to beginner investors without a lot of capital available. Low $5 bonuses are available, but they are very easy to achieve. Simply open an account and deposit a minimum of $5, and you can access the bonus. This small incentive can double your initial deposit.
Stash allows traders to use this bonus of stocks and ETFs. This broker offers free trades, as well as a special rewards program that offers stock back. Investment accounts have a $1 monthly fee. Stash is geared towards new investors looking for a simple platform to start trading on.
|Bonuses require very low deposits||You can only get a $5 bonus|
|No account minimums||Some fees are relatively high|
|Very easy to start trading||No human advisors available|
|A simplified approach to investing|
BlockFi focuses on cryptocurrency trading. This brokerage offers bonuses in the form of Bitcoin. Traders can access a one-time bonus on signing up. The amount varies depending on the initial deposit, and it ranges between $15 to $250 in free Bitcoin.
BlockFi also offers referral bonuses….