[Expired] Dough (Brokerage): Transfer $2,500 & Get A $75 Bonus

Deal has ended, view more brokerage bonuses by clicking here.

The Offer

Direct link to offer

  • Dough is offering a bonus of $75 when you have an approved dough brokerage account or have a current approved dough brokerage account and Submit Transfer request for a minimum of $2,500.00 USD worth (on day received by dough) of cash and/or securities between February 6, 2021 at 12:00 am CST through February 28, 2021 11:59 pm CST

The Fine Print

  • Open an approved dough brokerage account or have a current approved dough brokerage account.
  • Request a transfer from another brokerage account, also known as an Automated Customer Account Transfer (ACAT), within dough’s app or by submitting an ACAT request form.
  • Submit Transfer request for a minimum of $2,500.00 USD worth (on day received by dough) of cash and/or securities between February 6, 2021 at 12:00 am CST through February 28, 2021 11:59 pm CST.
  • dough will then fund your account for those fees with a $75.00 cash deposit in your dough account within 7 business days after receiving a successful ACAT into your dough account.
  • Your name on your dough account must be the same as the name on the outside brokerage account you link to complete the ACAT.
  • Limit one (1) reimbursement of $75.00 per dough account.

Our Verdict

Bigger bonus than $25 previously offered, but bigger deposit requirement as well. You can find more brokerage bonuses by clicking here.

Hat tip to reader Marlin S
    William Charles
  • On February 9, 2021, 15:00
Tags: brokerage bonusesdough

View Comments (25)

  • @will @chucksithe dough is closing down

    We started dough to help empower a generation of investors to believe that taking hold of your financial future is attainable to anyone. We’re grateful that you’ve come along for the ride, and let dough play a role in your financial journey.

    We wanted to advise you that dough will be ceasing operations as a broker-dealer, and all open accounts on Monday, October 11, will be set to closing-only going forward, which means you’ll only be able to close positions. We wanted to give you sufficient notice and inform you of your options before dough’s last day of business on Friday, October 29, so that you can plan your next steps for you to close your Dough account by either withdrawing any funds in the account and/or a transfer (“ACAT”) of any existing securities positions that remain in your account.

    (All Times are in Central Time)
    To learn more about the closure of dough, please refer to our home page, dough.com, to view our FAQ page.

    What are my next steps?
    We want to make sure that your next step goes smoothly, no matter which option you choose, so please read your options below carefully regarding your dough account.

    1. Outgoing ACATS Transfer
    You can transfer your dough account if you have open positions (no futures) and/or cash balance to a brokerage account at another brokerage firm via ACATS (Automated Customer Account Transfer Service), which you must initiate with your receiving brokerage firm where you have opened a like-titled brokerage account*. All you need to do is ask the brokerage firm you are moving to for their ACATS instructions, and they’ll know what you’re talking about. Confirm that the receiving brokerage firm will submit to dough the necessary ACATS instructions no later than 3 p.m. on Monday, October 4, 2021.

    Our clearing firm, Apex Clearing Corporation (“Apex”), charges a $75 Outgoing ACATS Transfer Fee, so your account must have at least $75 in cash to process the outgoing ACATS Transfer. Unfortunately, dough cannot determine when your new brokerage sends us your outgoing ACATS Transfer instruction. It’s important to note that ACATS Transfers can take 7-10 business days to complete. As a result, we strongly suggest that you let your new brokerage firm know that we must receive your instructions no later than 3 p.m. Central Time on Monday, October 4, to ensure the timely delivery of your account to your new firm. To facilitate your transfer, your dough account will be frozen once we receive your outgoing ACAT transfer request from Apex.

    Special offer from tastyworks–our sister company
    Our sister company, tastyworks, has a special offer for dough customers that want to transfer their account securities positions and any cash balances (“your account”) to tastyworks via Account Transfer with No Fee** dough customers that transfer to tastyworks will still have access to the dough trading platform with their [new] tastyworks account, and tastyworks will grandfather^ your account with dough’s $0 commission rate for stock and equity options. However, all clearing & regulatory fees will apply (see tastyworks’ fee schedule found at tastyworks.com or click here). Note that the dough commission schedule will only apply to one account, not any additional tastyworks accounts you open.

    You must have an open tastyworks account before you can initiate an Account Transfer to tastyworks. To start an account application, please go to tastyworks.com and click Open An Account, or click here.

    If you enjoyed using the dough app and want to continue using it as the front-end app for order entry in the future, then, you will need to move your account to tastyworks. You can continue to use the dough trading platform by downloading a new version of dough called dough by tastyworks that tastyworks’ brokerage account customers can access.

    After your [new] account is open at tastyworks, or you have an existing tastyworks individual account, click here to start your Account Transfer. You’ll need your dough account number and your new tastyworks account must be opened as an individual cash/margin account so your account will receive the same $0 commissions for equities’ order. To locate your dough account number, please click here. Again, we strongly suggest that you initiate your Account Transfer to tastyworks by Monday, October 4 to ensure the timely delivery of your account to tastyworks. To facilitate your transfer, your dough account will be frozen once we receive your Account Transfer request from Apex.

    * Dough only accepted individual accounts; therefore, any new brokerage account must be in your individual name: unless your new brokerage account will accept an individual brokerage account transfer from Dough to a joint account at the new brokerage firm – still your individual name on the Dough account must match your name on the new brokerage account.
    ** Savings of $75 if you transfer your dough account to tastyworks before Friday, October 29, instead of moving your account’s balances to another brokerage firm.
    ^ Transfer your dough account to tastyworks before Friday, October 29, to be grandfathered to tastyworks with dough’s commission schedule.

    2. Close your positions and withdraw via ACH
    You can choose to close any open positions and withdraw any remaining cash balance or proceeds via ACH after your trades settle (T+1 for options and T+2 for stock and futures). We strongly encourage that you verify and/or link your bank account with dough and withdraw funds before Monday, October 4, to ensure timely completion of your withdrawal and the closing of your dough account before the transfer date of Friday, October 29.

    After your withdrawal completes and your account has a $0.00 balance, you may write to help@dough.com and request an account closure. If you do not have a current bank account linked to your dough account, please visit our help center for instructions.

    Any taxable event in 2021, such as closing a position(s), will generate a 2021 Consolidated Form 1099, which Apex will provide to you during 2022. You can check that the email and mailing address associated with your dough account is up-to-date in the dough app (Settings>Personal Information). That way, our clearing firm can notify you if a tax form gets generated and how to retrieve it. To learn how to change your email address or mailing address, please click here.

    3. Take No Action To Close Your Dough Account or Withdraw/Transfer Out Any Securities, Futures or Cash Balances
    If you have not taken any of the action steps as described above in No. 1 and No. 2 so that your Dough account has a zero balance as of Friday, October 29; then, your account will automatically transfer to the clearing firm, Apex Clearing Corporation.

    As your Dough account documentation stated at the time you opened your account, Apex Clearing Corporation (‘Apex’) is the clearing firm and custodian for all Dough brokerage accounts including the securities, futures, or cash positions for your total Dough account balance(s). During the weekend of October 30-31, 2021, any Dough brokerage account that has any positive account balance(s) will be automatically moved out of Dough’s brokerage firm to Apex.

    Effective as of Monday, November 1, 2021, or upon completion of your account transfer, Apex will be responsible as both the broker and continue as the clearing firm–custodian for your brokerage account.

    What You Should Know To Distinguish Apex Clearing Corporation’s (Apex) Role For Your Account & Assets

    On or about Monday, November 1, 2021, Apex will act as both your broker and as the custodian for your account assets-balances. The following two (2) paragraphs may help you to distinguish how Apex will serve you once your former Dough account investment and/or cash balance are transferred to Apex:

    Apex Continues as the Custodian For Your Former Dough Brokerage Account:When your account transfers to Apex over the weekend of October 30-31, 2021; then, on or about November 1, 2021, you will still have access to the historical account statements and confirmations for your former Dough account. Apex acted for Dough as the custodian for all Dough brokerage accounts due to an introducing broker relationship between Dough and Apex; hence, Apex will provide you with historical records for your former dough brokerage account. Apex is not responsible for actions taken by Dough as your former brokerage firm. Instead, Apex provides you with access to your former Dough account solely as the former Custodian via apexonline.com – please remember to retain your former Dough brokerage account number and the email that was on file for your former Dough account before October 29, 2021, to access apexonline.com and your past Dough account records. Look out for a Last Notice by Dough to be sent on or about October 29, 2021. This last Dough Notice will provide you with Apex’s Broker-Dealer Withdrawal Team contact information that are trained to assist you when your account has been transferred to Apex from an introducing broker (“IB”) such as Dough LLC that has closed its brokerage business.
    Apex will act as the broker for a new Apex brokerage account that replaces Dough LLC as your broker - Apex accepts your former Dough brokerage account in order to continue to serve you under the regulatory procedure that allows this transfer to the Custodian when an introducing broker has closed its brokerage business. Apex will send their own letter to you as an account statement insert to further define for you how to liquidate securities, process cash withdrawals and etc.

    This Notice by Dough LLC serves to notify you of the termination of your customer agreement for your securities account and if applicable, any futures account that you opened with Dough. As of September 30, 2021, there will be no existing futures contracts held in any dough customer account and any futures account cash balance will be automatically swept to your Dough account for you to withdraw as instructed herein. Therefore, no futures nor assets regulated by the National Futures Association (“NFA”) or the CFTC will transfer to Apex.

  • P1-P3 all received this bonus, though we all had to contact dough through in app chat to get it. We transferred $2500+ each from Fidelity brokerage accounts, though the in app method to create an acat transfer did not work for us. Also, fidelity doesn’t charge for outbound transfers, so this was a total $75 profit each. We had to print, fill out and scan paper forms and send them by email in order to initiate the acat transfers.

  • I got a new offer yesterday for $50 when depositing $2500. Existing account for a long time, never use it.

    P2 got the same offer. anyone else?

    @will @chucksithe

  • so basically it's just a reimbursement for the trouble of conducting a transfer. not worth the hassle

    • That's correct. I emailed them as soon as I saw the offer in my email to ask if they refund the fee. They admitted that the $75 is meant to cover that. What a lousy promo.

      • It might still be useful if you do a partial transfer from a brokerage that doesn't charge a fee. It sounds like Dough will give you $75 regardless of whether you were charged a fee.

  • This has to be an ACAT transfer, which makes it a bit more painful than your usual transfers. Most accounts have high ACAT out fees (Robinhood has a $75 fee for both partial and full ACAT out.) I took a look at the ACAT fees for various brokerages and I'm pretty sure the best option is Fidelity. Vanguard also has $0 ACAT out fees, but their UI is a bit more painful. Schwab, Robinhood, Webull, rest of the big names etc all charge ACAT out fees.

    I have Fidelity already for my HSA, so I planned to just open up a normal brokerage account at Fidelity, transfer $2600 there, just keep everything in cash, and then ACAT out $2500. Has anyone else done this (an ACAT out of Fidelity?) Anything to keep in mind?

    • I've never had a problem with partial ACATs out of Fidelity or E-Trade. Merrill Edge is a total nightmare though and I regret working with them.

      • What problems have you had at Merrill Edge? They've been ok for me (though I'm not a heavy trader), and I have done partial transfers out of them with no fee.

  • These guys have Apex as their clearing firm, same ones who shut down buying of GME and those other stocks when they were blowing up.

  • I don't really get the deal here, if you transfer from robinhood to dough it's just covering the fees, correct?
    Webull covers up to $100 too.

  • Lame. Do E-Toro to get $50 USD upon depositing $100. Can do it multiple times with referrals, too.

  • "dough will then fund your account for those fees with a $75.00 cash deposit in your dough account"

    I'm wondering if you transfer from a transfer-out-fee-free brokerage, do you still qualify? Since this is labeled as a reimbursement of fees.

    • As long as its an ACAT, it should work. Curious which transfer-out-fee-free brokerage(s) you're referring to here?

      • Interactive Brokers or Fidelity. I confirmed with a rep that although the intent is to reimburse fees, they'll credit $75 regardless.

        During a past reimbursement with Ally, I had to provide my other brokerage's statement showing the fee for proof, so just wanted to double check.

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