At the heels of TradeKing promotions for new account holders, ETrade has come up with their own sweet offers. I’ve actually been an ETrade customer for ages now and have been with them since they first launched. That’s way over a decade ago. At any rate, I’ve always been happy with their service. They’re one of the earliest and best online brokers in the industry, having received some of the highest ratings from various industry watchers and publications.
ETrade: Free Trades for 60 Days, Get Up To $500 Cash Bonus
E*TRADE is offering a number of promotions for new customers. By opening a new E*TRADE Complete Investment Account, a Power E*TRADE account or an E*TRADE IRA, you’ll be eligible to receive these deals. Here are the details:
#1 Trade for free for 60 days AND receive up to $500 in cash.
To partake of this deal, you’ll need to open a new E*TRADE Complete Investment Account or a Power E*TRADE Account and fund the new account with a minimum of $2,000. You can do this through wire transfer, through the mail or via an ACH transfer, or by switching brokers and moving your account over.
The number of free trades you’ll receive will be based on your trading activity during the first 60 days of opening and funding your new account. When you start trading, the commissions that you’ll typically pay will be credited, up to a maximum of 500 trades. Therefore, you’re eligible to receive up to 500 free trades. You’ll need to fund your account within 60 days of opening it in order to keep it in active standing. Note that you won’t be compensated for any unused trades once the time period expires — you’ll simply get a credit for each trade you make. To keep things in good standing, make sure that you keep your account funded (minus any losses through trading) for a minimum of 6 months.
On top of the free trades, you can also earn up to $500 as a cash bonus based on the amount of your initial deposit, which you’ll need to make within 45 days of opening your new account. The payouts are listed as follows:
- For deposits of at least $250,000, you’ll get $500.
- For deposits between $100,000 and $249,999, expect to receive $250.
- For deposits between $50,000 and $99,999, expect to receive $100.
- For deposits between $25,000 and $49,999, expect to receive $50.
This offer is good for a limited time.
#2 Get up to $500 as a bonus when you open an IRA.
If you establish a new IRA account with E*TRADE, you’ll receive a cash bonus as a deposit into your account. You’ll get the bonus once you create a new Rollover IRA, Traditional IRA or Roth IRA and move new funds or securities into your new account within 45 days of opening it. To keep the cash, you’ll need to keep your account funded for a minimum of 6 months. You can expect to get the deposit within 8 weeks of funding your account. And as usual, this is a limited time offer.
As for how much you’ll receive as a bonus? That will vary based on how much your initial deposit is.
- For deposits of at least $250,000, you’ll get $500.
- For deposits between $100,000 and $249,999, expect to receive $250.
- For deposits between $50,000 and $99,999, expect to receive $100.
- For deposits between $25,000 and $49,999, expect to receive $50.
#3 Get 100 free trades when you open an IRA.
And finally, if you like to trade, then maybe the 100 free stock and options trades will be enticing to you. This will apply to new Rollover, Roth and Traditional IRAs. You’ll be credited for up to a maximum of 100 trades that you make within the span of 30 days from the time you open and fund your new account. You will initially pay for your trades but within 8 weeks of making those trades, you should receive credits for those actions you’ve taken. Again, you won’t be compensated for unused free trades, which will expire after 30 days of account open (and funding). Note also that this offer can’t be used in conjunction with the $500 cash bonus offer for new IRAs. This is also a limited time offer.
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{ 2 comments… read them below or add one }
Nice and informative article on free trades through ETrade. Sounds like a cool marketing strategy that appeals to a consumer miser such as myself. I will tell my wife about this too. I definitely want to take advantage the free trades under the first option although I will not be qualifying for the $500 bonus ( for deposits of at least $250,000). I note the new account requirement and a $2000 minimum initial deposit.
I’m interested in transferring an existing traditional IRA. Is there any promotional free trades that I can get by opening through e-trade?