The 10 Best Brokerage Account Promotions & Bonuses For 2023

If you're on the market for a new online broker, you're in luck. These days, plenty of companies have ongoing brokerage account promotions you can take advantage of to earn free cash. And with a large enough qualifying deposit, it's possible to earn thousands of dollars from some of the most competitive companies.

This is our list of some of the very best online stock broker promotions running right now.

1. Axos Invest – $200

Axos is a full-service online bank that's known for its variety of no-fee checking accounts and its competitive high-yield savings account. It also has a promotion of $200 once you open an Axos Invest account for its Axos Invest Self-Directed Trading or Managed Portfolio and fund it with at least $2,000.

You have up to 60 days to make a qualifying deposit and have to keep your balance at or above this amount for that time period to earn the bonus. Axos even waives transfer fees up to $300 to encourage you to sign up. And if you're in the market for a new rewards checking account, Axos has a $100 sign-up bonus there as well. (Rewards checking bonus available through 3/31/2023 with code RC100)

2. J. P. Morgan Self-Directed Investing – Up to $700

J.P. Morgan Self-Directed Investing is one of our favorite brokers for mutual funds since it doesn't charge commissions, which is hard to find. Plus, it has one of the best broker promotions right now and pays new customers up to $700 for opening and funding a new account. Here's how the promotional tiers work:

• Get $50 when you fund with $10,000-$24,999
• Get $150 for funding an account with $25,000 – $99,999
• Get $325 for funding an account with $100,000 – $249,999
• Get $700 for funding an account with $250,000+

You have 45 days to fund your account from opening to receive the bonus. There's a 90-day holding requirement as well. Note that this stock broker offer is set to expire on April 13, 2023, but may be up for renewal.

3. E*TRADE – Up to $600

With up to $600 in cash up for grabs, E*TRADE has one of the best stock broker promos currently running. All you have to do is open an E*TRADE brokerage or retirement account with a qualifying deposit of $5,000 or more and use the code BONUS23 when signing up.

You have to hold funds in your account for 60 days to get your bonus. E*TRADE‘s promotional tiers are as follows:

Note that this promotion expires on April 18, 2023, but is subject to renewal at E*TRADE's discretion.

4. Merrill Edge – Up to $600

Merrill Edge is a discount broker from Bank of America that's known for its extensive research offerings and ESG investing options. It also has an excellent stock broker bonus of up to $600 in cash. There are four different promotional tiers ranging from $100 to $600 in cash bonuses:

You have 45 days to make your deposit and must hold funds in your account for at least 90 days to receive your cash bonus. Use code 600ME when signing up to qualify.

5. Robinhood – Free Stock up to $200

While it doesn't have the largest stock broker promotion out there, Robinhood is still one of the most beginner-friendly investment apps out there. New customers who link their bank account to Robinhood get a free fractional share that can be anywhere from $5 to $200. There's a 98% chance your share is worth $5 to $10, but if you get lucky, it's a great bonus.

You can also receive this bonus again if you refer eligible new customers to Robinhood. Just note that you have to wait three days to sell your stock and 30 days before withdrawing the cash proceeds from your account.

6. Charles Schwab – Up to $1,000

If someone you know is a Charles Schwab customer, you can get up to $1,000 in cash for becoming a client yourself and making a qualifying deposit. All you need to do is use the unique referral code from your friend and set up your account. Eligible accounts for this promotion include Schwab's brokerage accounts, its robo-advisor, private wealth management, and Schwab Managed Account Connection.

Here's how Charles Schwab's broker bonus tiers work:

You have to hold funds in your account for 45 days to get your bonus. This is one of the shorter holding periods in the world of stock broker promotions which is a plus if you're churning through accounts for cash bonuses.

7. Public – Free Stock, ETF, or Crypto Up to $300

Like Robinhood, new Public users can get a free “slice of stock” valued at anywhere from $3 to $300 when they open and fund an account. You have to deposit at least $20 to qualify for the promotion, and you get a fractional share of a stock, ETF, or cryptocurrency.

According to Public, you have a 95% chance to receive a $3 reward, 4.9% chance to receive a $5 reward, and 0.1% chance to receive a $300 reward.

These aren't incredible odds. But Public is one of our favorite investing apps since it's easy to use and also supports crypto trading and alternative investments. And, it doesn't use payment-for-order-flow unlike Robinhood and many other brokers.

8. TradeStation – $150 Cash or $150 Bitcoin

Right now, TradeStation has two different broker promotions going on: a cash bonus and a free Bitcoin bonus. New customers can get $150 in cash or $150 worth of BTC for opening a new TradeStation Securities or TradeStation Crypto account. Here's how the promotion works:

1. Open either account type and use the TradeStation promo code TSTVAFYB
2. Fund your account with $500
3. Maintain this balance and receive two $75 payments of cash or crypto depending on your account type

TradeStation crypto customers can qualify by depositing $500 worth of crypto or purchasing this amount. But you must make these purchases or deposits within 45 days of opening either account.

Additionally, you have to maintain your balance until the end of the next full month to get your first $75 payment. The next $75 payment comes at the end of the third month.

9. Webull – Up to 12 Free Fractional Shares

Like Robinhood, Webull also has a free stock broker promotion that gives you up to 12 free stocks so you can hit the ground running with investing.

Webull's broker promotion has two steps:

1. Open a new Webull account and receive two free stocks valued from $3 to $300
2. Fund your new account and get four-ten stocks valued from $7 to $3,000

Odds are you're going to get a handful of fractional shares worth anywhere from $3 to $10 since landing the more expensive stocks is very unlikely. But if you're switching to Webull or want an easy way to start investing with little money, it's a nice broker bonus to go for.

Note that stocks appear in your account roughly 10 business days after you qualify and you can sell them any time you want.

10. SoFi Invest – Up to $1,000

If you open a new Active Investing account, you can win between $5 and $1,000 just for opening the account. You don't need to make a deposit, although you have a roughly 85% chance to get a $5 reward and a 9.5% chance to get a $10 reward. The odds of getting a $100 reward is 1.66% and you're looking at 0.28% odds for the $1,000 reward.

However, SoFi has plenty of other lucrative sign-up bonuses where you have more control. You can also get up to $100 in free Bitcoin for trying crypto trading.

SoFi customers also get free access to human financial advisors, so it might be worth switching to for the bonuses and human advice you can get.

Bottom Line

The world of online brokers is a competitive one, and companies are willing to pay for new business. So if you're looking for a new broker or are unhappy with your current one, make sure you leverage stock broker promotions when signing up somewhere new.

Of course, you should also consider the broker's fees, research offerings, and other features to make sure it has what you're looking for. And be careful with transfer fees since they can take a healthy chunk out of cash bonuses if you're not careful.