These 7 Brokerages Will Give Free Money to New Investors

Are you a new investor on the hunt for the best brokerage firm?  There are a lot of factors you should consider before making a decision.

Whether you’re already savvy in the stock market or a novice investor who's dabbled with investing apps, opening an account at a new brokerage firm could put additional money in your pocket as soon as you make an initial deposit.

Deals are everywhere and brokerage firms want to earn your business.  This allows you to be picky and seek out the best brokerage account bonuses available. Let them court you.

Financial Freedom Starts With Diligent Research

A brokerage account is an investment account comprised of stocks, bonds, mutual funds, and exchange-traded funds (ETFs).

“When it comes to investing, having the right broker may be one of the most important decisions you make,” Jennifer Croslin told Wealth of Geeks. Croslin is the founder and owner of Starlight Insurance Agency LLC and has worked in the insurance sector for over thirty years.

“A good broker will give you access to a wide range of investment products, including stocks, bonds, and funds; they also provide valuable research data and recommendations,” she says.

Croslin recommends opening a J.P. Morgan Self-Directed Account. New users who meet the qualifying deposit amount will receive a bonus of $625. Investors who contribute between $25,000 and $99,000 will receive a $125 bonus, contributions up to $249,999 will yield a bonus will of $300, and any amount over $250,000 makes you eligible to receive the full bonus amount of $625.

While this is a solid offer, this investment opportunity might not be feasible for everyone due to the high contribution threshold, particularly those new to the stock world.

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Brokerage Account Bonuses for Every Budget

Luckily, investment opportunities and brokerage account bonuses exist for all unique budgets. Croslin also recommends Robinhood and Acorns, which provide incentives for new investors or those with smaller portfolios.

Robinhood offers free stocks to new customers regardless of their initial deposit amount. Once you link your bank account to your Robinhood account, they’ll gift you a free fractional reserve valued between $5 and $200. According to Robinhood, 98% of participants receive a reward between $5 and $10.

Acorns allow you to invest on the most minor scale: spare change. Take their Round-Ups feature for a spin and Acorns will automatically invest your spare change from your everyday purchases in their expertly built ETF portfolios. According to Acorns, their average customer can exclusively invest $166 in four months through spare change.

For just $3 a month, Acorns provides all-in-one investments, retirement, checking, a debit card, money advice, and bonus investments.

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Say “Yes” To Invest

Tastyworks is giving away stocks to new customers. “If you are looking for an interesting promotion for a new investor, Tastyworks has a unique promotion,” says Michael Ryan, a financial coach, and retired financial planner. Ryan has thirty years of experience giving financial advice as a planner and coach.

All approved new customers are guaranteed a $200 to $250 stock offer after funding their accounts with a minimum of $2,000. “For each Stock Bonus, five shares of a single stock will be randomly selected by Tastyworks from a list of stocks priced between $40 and $50,” according to the Tastyworks fine print.

Looking at the Long Term

“Stocks are a good long-term investment,” says David Gu, CEO of Inyouths LED Mirrors. The New York City-based entrepreneur recommends Ally Invest and E*Trade.

With Ally Invest, new users are eligible to receive bonus cash amounts of up to $3,000. Similar to Chase and TradeStation, Ally also offers several brokerage account bonus tiers. Earn a $100 cash bonus when you deposit at least $10,000, and up to $3,000 in bonus cash when you invest $2 million.

“Ally used to be the preferred high-interest online savings account for internet bloggers,” says Samantha Odo, the COO of Precondo, a leading firm providing the best of the handpicked real estate market. “They continue to provide some excellent possibilities with their invested product,” she says.

E*Trade offers a similar bonus structure for new investors. “Their bonuses are among the best in the industry,” says Gu. An initial investment between $5,000 and $19,999 will receive a $50 bonus, and you can receive up to $3,500 if you invest $1.5 million.

Finally, if you’re looking to make the speediest return on the most minor investment, you'll want to consider Fidelity. New customers who fund their account with at least $50 will receive a $100 bonus as long as they maintain that $50 balance for fifteen days.

Many great brokerage account bonuses allow you to maximize your investments and earn cashback for your effort. If you’ve got major funds to invest, you can see some sizeable bonus returns with J.P. Morgan, Ally Invest, and E*Trade.

Robinhood, Acorns, and Fidelity each offer exciting incentives and low stakes, low-risk investing opportunities for novice investors or people who don’t want to fund an account with their life savings.

NoteOffers mentioned were accurate at the time of publishing; however, all offers are subject to change.

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This article was produced and syndicated by Wealth of Geeks.

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Justin McDevitt is a playwright and essayist from New York City. His latest play HAUNT ME had its first public reading at Theater for the New City in September. He is a contributor for RUE MORGUE where he lends a queer eye to horror cinema in his column STAB ME GENTLY.