[Expired – Closing Down] All Of Us (Brokerage): $50 Referral Bonus (Deposit $1+)

Update 5/19/22: All of Us is closing down and accounts will be transferred to Firstrade.

This is to notify you about an upcoming change to your brokerage account. All of Us Securities LLC (“All of Us”) will no longer be offering brokerage services as of June 27, 2022. We understand that this disruption is not ideal.  However, we have reached an agreement with Firstrade Securities Inc. (“Firstrade”) to transfer your accounts to them, unless you opt out of the transfer as described below.   

To minimize your disruption, Firstrade also clears through Apex Clearing Corporation (“Apex”), which is the current clearing firm of All of Us.  While Firstrade will be responsible for opening, approving and monitoring all activities in your brokerage account, your assets will remain at and cleared through Apex.  Firstrade offers substantially the same services as All of Us.

Update 6/30/21: Looks like they’ve lowered it to $25 for new member and $10 for referrer. Also increased minimum deposit to trigger bonus up to $10.

Contents

The Offer

Direct link to offer

  • Fee free brokerage All Of Us is offering a $50 referral bonus to both parties when a referral link is used and $1 or more is deposited.

The Fine Print

  • The start date of the offer is Jun 10, 2021, and the expiration date (unless extended) is Friday June 18
  • An existing customer provides their unique referral link to a person, and that person utilizes the link when opening their account. The referral link is available to logged in customers on the account dashboard within the platform.
  • The referred customer is new to All of Us.
  • The referred customer funds their account from a linked bank account by ACH transfer within 7 days of account opening and before the expiration of the offer, whichever is earlier.
  • IRA’s do not qualify for this offer
  • Successful referrals will result in $50 cash awarded to the new customer as well as the existing customer who made the referral. IRA accounts cannot receive rewards.
  • The referring customer must have a non-IRA to receive the cash and the new customer must open a non-IRA account.
  • Recipients of the cash referral bonus may not withdraw the cash received for 6 months after the bonus is issued. (However, it may be invested.)

Our Verdict

All of Us also gives rebates based on selling order flow information, unlike other similar brokerages (Robinhood). This referral bonus seems a little bit too good to be true, so I suspect it’ll be pulled before the end date (surprised it hasn’t already been pulled). All of Us has raised $4million+ according to Crunchbase. Do not share your referrals in the comments below, used this linked post instead.

Hat tip to reader Matt I for sending this in (his referral here)

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Dillo
Dillo

*None of Us

Gadget - Bank Bonus Geek

“All of Us will be ceasing operations as of June 27, 2022. More details about the options available to you can be found on our home page http://www.allofusfinancial.com.”

They sent out an email as well. William Charles Chuck

Kenny Shaw
Kenny Shaw

Unsurprising. Seemed like a shit platform that never got off the ground.

Mak
Mak

I did not do any trade .. Just recieved $50 bonus .. Is it taxable ?

Hari Kari
Hari Kari

After I withdrew my funds, I can’t even log back in, says “user disabled. Does anyone know what we are supposed to do at tax time to get the data into turbotax? I did a couple of trades.

scott
scott

Hari Kari – To access account records like tax forms and monthly statements, Apex Clearing provides the ability to set up online access. Click https://public-apps.apexclearing.com/session/#/login/ to set up an online profile. Begin by clicking on “Create User ID”, You will need your account number when setting up access.

Olympia

scott scott – do you happen to know if they issue 1099s? Thank you!

scott
scott

Olympia – Did you check Apex Clearing?

Olympia

Thanks, I was wondering because I don’t have my account number. scott scott

scott
scott
Olympia

Hi, that was the comment I was referring to. I don’t have my account number. Would love if anyone could share if they issue a 1099 or not. scott scott

jz
jz

@Hari Kari Below is from their website.

After your account is closed, you will no longer be able to access our platform. In order to access account records like tax forms and monthly statements, Apex Clearing provides the ability to set up online access.

Click here to set up an online profile. You can set up a profile with Apex by clicking on “Create User ID”.

To register you will need your account number, so please make a note of it before closing your account. It can be found on the dashboard, beginning with 5FE. If you need help with your account number after the account is closed, please contact us from the email address associated with your account.

SpicyPadThai
SpicyPadThai

withdraw all of my funds and my account is closed easy $50

kat
kat

Withdrew all my funds before the 6 month mark.
The account was then automatically closed. I did not need to send a message to close the account. When i try to log in, i get the message “user disabled”.
Easy $50.

CT
CT

William Charles Got an email from the brokerage saying due to popular demand they are letting everyone who got the $50 promotional credit to withdraw now if they want and not wait till the 6 months are up.

Chris
Chris

Can you provide the email subject and message? I’m not seeing anything yet.

CT
CT

[Account Status] A Message from the All of Us Team
We know that many of you have been waiting for the opportunity to withdraw your funds after our Summer rewards promotion, so by popular demand we have removed the waiting period. The funds in your account are available to withdraw now.

Thank you for joining All of Us and our mission of empowering retail investors like you.

We’ve included some answers to some questions you may have below:

Q: How do I close my account after withdrawing all of the cash?
A: We will automatically close your account if you bring your account to a zero balance.

Q: What if I invested in stock?
A: If you would like to withdraw your funds now, you will need to sell the stock you purchased. The funds will be available to withdraw two business days after you sell, so you will need to return after two days to request the cash withdrawal.

Feel free to reach out with any other questions. It has been a pleasure having you as a member of our investing community.
Sincerely,

The All of Us Team

SpicyPadThai
SpicyPadThai

I just emailed and can confirm this is what they said:

“Funds may be withdrawn now. We have removed the 6-month requirement.

Thank you.”

BlissfulApathy
BlissfulApathy

I don’t trust ’em. Feels like a trick. “Oops that email was by a rogue staff member, sorry!”

Gadget - Bank Bonus Geek

Highly unlikely. They would send out a retraction if that was the case.

About a week or so ago I attempted to withdraw and the balance was not available but I had no issue today. I guess if you really want to cover your bases, call and ask if it’s legit and correct. I think it’s unnecessary and just wastes your time and yours.

Kenny Shaw
Kenny Shaw

I got the same thing today

Eric

I received this email today also.

Dave
Dave

do we need to invest anything while waiting for 6 months for cash withdrawl ? Does it has any inactivity fees ?
If we need to invest, what are the options considering it does not allow fractional shares ?

Chris
Chris

Nope

Dave
Dave

thanks

Ava
Ava

Anyone get this bonus yet?

Jeremy
Jeremy

Yes

Daedalus

Somehow I’m in the top 10 for the sharpshooter challenge lol. Got lucky with steady gains.

P
P

All of us expire – that was scary.