Posted by Manasa R on May 19, 2015
Brokerage Bonuses

Published on May 19th, 2015 | by Manasa R

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Schwab Brokerage Account Bonus: Receive $300 In Free Trades

This post is part of our series on IRA & Brokerage bonuses. Every Tuesday we share another bonus with you.

The Offer

Charles Schwab is offering a deposit bonus in the form of commission-free online trades worth $300 for new customers who open a retail brokerage account and fund it with at least $50,000 in external deposits within 45 days of offer enrollment.

$300 In Free Trades

Direct link

To receive the free trade bonus, you must do the following:

  • Use the link above to open a new Schwab retail brokerage account.
  • Fund the account with $50,000 or more in external deposits within 45 days of offer enrollment.

Rules:

  • No specific offer expiration date could be found.
  • Offer valid for new Schwab brokerage clients only.
  • Offer excludes accounts managed by independent investment advisors, the Schwab Global Account, ERISA-covered retirement plans, tax-qualified retirement plans, or educational savings accounts.
  • You can expect the trades to be credited to your account within one week of confirmation of the qualifying deposit. The trades would only apply to base equity, ETF, and options commissions. Fees still apply for options per-contract, foreign transaction, exchange, and regulatory fees.
  • Valid trades are those placed through Schwab.com, Schwab trading platforms, and Schwab Wireless.
  • The trades expire 180 days after the date they were credited to your account.
  • Offer not transferable, saleable, or valid in combination with any other offer.
  • A maximum of 300 free trades per client may be received from promotional offers in any 12-month period.
  • Offer for US residents who are not employees of Charles Schwab or its affiliates.
  • A mandatory length of time the qualifying deposit must be held could not be cited in the terms. The other Schwab offer noted that the qualifying net deposits should be maintained in the account for one year or you may be charged back for the award.
  • Offer valid for one account per household.
  • Investing involves risk.

The Verdict

Given the hefty deposit required here, and given that Schwab would perform a hard credit inquiry for new accounts, this promotion would likely only hold appeal for those already considering investing a sizeable amount (i.e. $50k+) with Schwab. Even after receipt of the free trades, one would need to exercise those trades within approximately six months to avoid trade expiration. If you prefer a cash deposit bonus with Schwab that requires a significantly lower qualifying deposit of $10k, you can check out that promotion here.

A brokerage account with Charles Schwab provides access to stocks, options, bonds, mutual funds, ETFs, mutual funds, and more. In terms of standard fees, Charles Schwab is on the higher end of the fee spectrum, with standard online equity trades at $8.95. Schwab also offers a selection of commission-free Schwab ETFs.

Charles Schwab was included in Kiplinger’s Personal Finance 2014 survey of Best Online Brokers.

Do you have experience with Schwab’s trading platform? Let us know in the comments below!

HT: Hustler Money Blog


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