Terms state ‘You must be the original recipient of this offer to enroll.’ but not marking this as targeted as it’s advertised on the homepage.
Update 4/4/24: They made the low-end tiers better now, both of these will be interested to some people: $50 deposit gets $100, $1,000 deposit gets $150. Use code PROMO24. (Previously you needed $1,000 deposit to get $100.)
The Offer
Direct link to offer | Better link
- E*Trade is offering a bonus of up to $6,000 for E*Trade customers when you apply the promo code during signup. Bonus is tiered depending on how much you deposit in cash or securities within 60 days of enrollment.
- $1,000-$24,999 will receive $100;
- $25,000-$49,999 will receive $150;
- $50,000-$99,999 will receive $200;
- $100,000 – $199,999 will receive $300;
- $200,000-$499,999 will receive $600;
- $500,000+ will receive $1,000;
The Fine Print
- If you deposit $250,000-$499,999, you will receive a cash credit within seven business days
- . If you have deposited at least $250,000 in the new account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window.
- For example, if you deposit $300,000, you will receive a cash credit of $1000 within seven business days, then if you deposit another $200,000 you will receive an additional cash credit of $500 at the end of the 60-day window for a total reward of $1,500
- If you deposit $1,000,000 or more, you will receive a cash credit within seven business days.
- All other reward tiers ($5,000-$24,999; $25,000-$99,999; $100,000-$199,999; $200,000 – $249,999; $500,000-$999,999) will be paid following the expiration of the 60-day period.
- In addition, if you deposit $500,000 or more into your new account, deposits made in eligible linked accounts during the 60 day period will be aggregated for purposes of the reward and the credits will be paid pro-rata to all accounts where deposits were made during the 60-day period. For example, if you have deposited $500,000 in your new account during the 60 day period, and during the same period you deposited $100,000 into another eligible account you have linked to the new account you will receive $1,250 in your new account and $250 into the other eligible account.
- Account holders must maintain the funds (minus any trading losses) for at least
six monthsone year or credit may be surrendered.
Our Verdict
This is better than standard new user deal and the same as the existing user deal. Definitely one of the best brokerage bonuses that is currently available. Do not share your referrals in the comments below, instead you can share them on this linked page.
Update History:
- Update 1/7/24: Deal is back, all of the tiers are much worse than before.
- Update 11/10/23: Bonus is back with code PROMO23, but at lower amounts. Max bonus is $3,500 now. See the tiers at this link.
- Update 5/12/23: Bonuses increased significantly, updated below. (The $5k tier is gone, removed below.) Valid through June 30, 2023. This bonus is for existing E*Trade customers.
- Update 6/9/22: There’s also a $5,000 bonus tier with $2,000,000 deposited at this link. This one is for existing customers only. (ht Dave R)
- Update 1/7/22: New deal valid until 12/31/22.
- Update 8/3/21: There is a new deal, up to $4,000 for existing customers and $3,500 for new customers. Bonuses for existing customers are slightly lower, but there is a higher $2mill+ tier for $4,000.
- Update 2/1/21: Deal has been extended until February 28, 2021.
- Update 6/1/20: Extended until December 31st, 2020. Bonuses have been reduced
Chuck William Charles looks like there’s a new offer for existing accountholders:
https://us.etrade.com/promo/6000cfc-brokerage-040124
This has been out for about a week as indicated in some of the previous comments.
Posted now separately, thanks
I tried to open a new brokerage account as an existing customer but got the following message:
We are unable to process your application at this time. Please reach us at 800-387-2331 or via online chat for resolution.
Anyone else with an existing account get this?
I got this error message too. So, I closed my browser and tried again and it went through this time.
I followed your advice and opened a new browser window. I was able to proceed through the application and open the account. Thanks!
Yes, I got the error when I applied a few wks ago. It lets me login. I haven’t contacted support, though.
E*Trade has some serious problems…..Takes 3 business days to deposit. Also if you check retired and you retirement date is before the avg age of 59 than they you will have to wait an additional 10 days for verification….whatever that means? Meanwhile they have already deducted my money from my account. This seriously sucks as I want to buy some Sofi stock! Feels like something is wrong with this company….
I made a FINRA complaint against them. My money was locked up for 6 weeks. I called them twice about it and then took hours trying to chat with them. Despite being an existing customer they locked up funds and paid no interest.
This is my most disliked brokerage. IBKR deserves a special mention in this category as well.
When I was doing live chat, the supervisor said that my money wasn’t locked up but I did not have the ability to invest or trade. I asked him what most people open a brokerage for if not to invest or trade.
Really not a fan of etrade. I think they have liquidity problems because they make it REALLY hard to take money out. I had to send in my social security card(like a picture of it), they had me write a letter with my signature on it, all manners of ID & proof of address, and do a 3-way call with my original bank (to prove source of funds), before I could take my money out. To this day, I worry about them getting data breached now, because I will absolutely be pwn3d with all the information I gave them.
Basement tier brokerage & I’ve used many. Even Robinhood wouldn’t do this.
E*Trade is acquired by Morgan Stanley in 2020 , a systemically important bank.
If my adopted parents are billionaires, does that make me one too 😀 ? But seriously, Morgan Stanley’s best & brightest, are not working at E-trade. Dealing with their customer service feels like dealing with a bookie or a checking cashing place in the hood. Put your money in there at your own risk.
Agreed, they do seem not very professional… I have dealt with hood bookies that seem more serious about money.
You must keep the deposit amount in the account for 6 months or forfeit bonus. Am I reading that correctly?
Do they reimburse ACAT transfer fees if you transfer assets from a different brokerage account?
Thank you for that clarification. ETRADE does not charge transfer fees for incoming assets. We also do not reimburse for ACAT fees charged by by other firms for transferring the assets to ETRADE.
fi you are doing the $1k deal, don’t bother with an ACAT, just ACH it.
well 150 for $1k deposit is good
Where are people parking their money? SGOV, DGEXX, USFR, something else?
Started with XHLF, then SGOV, now USFR.
In Sofi playing the earnings on Apr 29 !
You can also buy tbills that expire within a few days of the 6 mo date. When those mature you can pull the funds if desired.
Just buy a 6 month T bill and you will get the same interest thru out the period even if Fed low interest rate. And you can close the account after the T bill matured.
Where to do that in the app? I saw another comment but couldn’t find in the app where the other person was describing.
The simplest to explain is asking you to Google “buy treasury e trade youtube”
Yall get a Chex hit for etrade brokerage now that they merged with Morgan Stanley?
If so, any DP for existing etrade/MS customers getting a Chex hit?
Has anyone tried freezing their Chex and getting approved?
opened one last month no chex hit, mine was frozen
Appreciate you
terms state the money must remain in account for 6 months* not one year as this page says