Update 8/17/22: Last day
The Offer
- Get $600 when you sign up with Robinhood, get approved, and make a qualifying deposit (see deposit tiers, below). Qualifying deposits must be made by September 16, 2022 and kept through October 16th.
- You’ll also get a free stock worth between $5 – $200 (most are like $5 or $10).
- Get additional $45-$52 bonus with Swagbucks or MyPoints.
Deposit tiers:
- $25 for depositing $1,000 – $9,999
- $100 for depositing $10,000 – $49,999
- $300 for depositing $50,000 – $99,999
- $600 for depositing $100,000+
The Fine Print
- Rewards will be delivered by October 21, 2022. If you receive a reward, you’ll have 30 days to claim it. Once claimed, you can use it to invest right away, but you can’t withdraw the cash value for 30 days.
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Your cash reward will expire if it isn’t claimed within 30 days.
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This promotion is only available to new customers who sign up for Robinhood through the promotion page.
- The funds you receive through the deposit match program will be reported as miscellaneous income in your 1099-MISC form. Because of IRS minimum earnings requirements, you may not receive a 1099-MISC form if your deposit-matched funds and any other funds (i.e., stock reward funds) are valued at less than $600.
Our Verdict
Seems to be a public offer. The standard offer is a free stock worth $5-$200 upon signup or a little better when you signup via Swagbucks. This new offer adds the additional deposit component of up to $600. I don’t recall ever seeing a Robinhood deposit bonus before.
Overall the tiers are pretty good when compared to other brokerage bonuses. More importantly, you just need to keep the funds with Robinhood for just over a month to qualify; most brokerage bonuses require 6 months or a year. This might make sense just as a straight-up bonus play, even using cash funds, though given the current high interest environment it gets tougher to justify if leaving the funds literally in cash.
We’ll add this to our list of Best Brokerage Bonuses.Â
Hat tip to reader Jonny
