The Offer
- Firstrade is offering a bonus of up to $600 when you open and fund a Firstrade brokerage or retirement account by April 15th, 2020. Use promo code FTCASH. Bonus is tiered as follows:
- $50 bonus when you deposit, transfer and/or roll over $10,000+
- $100 bonus when you deposit, transfer and/or roll over $25,000+
- $200 bonus when you deposit, transfer and/or roll over $50,000+
- $300 bonus when you deposit, transfer and/or roll over $100,000+
- $600 bonus when you deposit, transfer and/or roll over $250,000+
The Fine Print
- Offer valid for one new domestic Individual, Joint or IRA Firstrade account opened from 12/20/2019 to 04/15/2020 and funded within 30 days of account opening with $10,000 or more. You must use promo code “FTCASH” when opening the account.
- To receive $50 in Cash Rewards, the account must be funded with $10,000 – 24,999 or more.
- To receive $100 in Cash Rewards, the account must be funded with $25,000 – 49,999 or more.
- To receive $200 in Cash Rewards, the account must be funded with $50,000 – 99,999 or more.
- To receive $300 in Cash Rewards, the account must be funded with $100,000 – 249,999 or more.
- To receive $600 in Cash Rewards, the account must be funded with $250,000 or more.
- This offer only applies to initial funding. The Cash Rewards will be credited to your Firstrade account after funding. (Offer Code: FTCASH)
- Eligible accounts include brokerage (Individual, Joint and Custodial) and IRA accounts (Rollover IRA, Traditional IRA, Roth IRA). Rewards for IRA accounts may only be credited to a Firstrade brokerage account with the same account name. (If you don’t have a brokerage account with Firstrade, you must open one.) Offer is not valid on Entity Accounts (Partnerships, Corporate, LLC, Trust and Investment Clubs). Limit one offer per account type. This offer is not transferable.
- This offer is not valid with internal transfers from current Firstrade accounts and not valid with stock certificate deposits and not valid to combine with certain other offers.
- The account must remain open for 12 months with the minimum funding or assets required for participating in the offer, or Firstrade may charge the account for the cost of the offer at its sole discretion. Firstrade reserves the right to restrict or revoke this offer at any time.
- Taxes related to Firstrade offers are your responsibility. All promotional items and cash rewards received totaling $600 or more during the calendar year will be included on your consolidated Form 1099. Please consult your tax advisor for any changes to the U.S. tax code and for rollover eligibility rules.
- This is not an offer or solicitation in any jurisdiction where Firstrade is not authorized to conduct securities transactions. Void where prohibited.
Our Verdict
Funds need to stay in there for 12 months. Not as good as some of the other brokerage bonuses, but might be worth doing if you’ve already done those.
Hat tip to reader Joe F
View Comments (5)
How easy is it transfer funds out?
This is a pretty poor bonus at the highest tiers.
Are you required to actually trade those funds? Or can you simply do a transfer into the account and wait for the bonus?
@guest_894179 In my experience, i have received the bonus on a number of investment platforms as long as the money was in the account the required amount of time (12 months here) without having to invest the money. Simply deposit, wait for bonus, withdraw.
They also give you a free stock when you sign up. I got a crappy $10 TEVA stock. P2 got Apple, it was shocking. Check Docs other post on Firstrade. I am fairly certain you can stack both offers but am not aware of any DPs yet of anybody trying
The account must remain open for 12 months with the minimum funding or assets required for participating in the offer, or Firstrade may charge the account for the cost of the offer at its sole discretion.