If you want to invest in the stock market, you need to open a brokerage account first. These accounts are your gateway to the markets, helping you to buy and sell securities like stocks, bonds, mutual funds and exchange-traded funds. Many brokerage firms offer substantial sign-up bonuses to encourage new customers to pick them.

Forbes Advisor has identified the best brokerage account bonuses based on the bonus’s cash value, investment minimums and other eligibility requirements. We compared offers from 25 leading brokerage accounts to find some of the best bonus offers available. Bonuses and other details were current as of May 1, 2024.

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  • 21 brokerage accounts analyzed
  • 200 data points evaluated
  • 360 customer service inquires made

Featured Partner Offer

J.P. Morgan Self-Directed Investing

New Customer Bonus

Up to $700 with qualifying deposits

Account Minimum

$0

J.P. Morgan Self-Directed Investing

Learn More

On J.P. Morgan's Website

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Top Brokerage Account Bonuses of May 2024

Brokerage Bonus
Citi
Up to $5,000
Tastytrade
Up to $5,000
TradeStation
Up to $3,500
JP Morgan Chase
Up to $700
E*Trade
Up to $600
Merrill Edge
Up to $600
M1
Up to $500
TD Bank
Up to $500
Charles Schwab
Up to $101

Citi: Up to $5,000

Most bonus offers are only available to new customers. However, Citi allows both new and existing customers to qualify for this bonus if they make qualifying deposits into a Citi Personal Wealth Management Account.

You must deposit at least $50,000 to qualify for the base level bonus, and those with higher balances can qualify for up to a $5,000 bonus.

Deposit Amount Bonus
$50,000-$199,999
$500
$200,000-$499,999
$1,000
$500,000-$999,999
$2,000
$1,000,000-$1,999,999
$3,000
$2,000,000+
$5,000

Details

To take advantage of Citi’s bonus offer, new and existing customers must contact a Citi financial advisor to enroll in a new or existing Citi Personal Wealth Management Account. The account must be funded with at least $50,000 by June 30, 2024 to qualify for the bonus.

Customers must sign up for electronic statements, and they must keep their money in their account for the length of the maintenance period. The maintenance period varies based on when you initially fund the account:

  • Deposits made on April 1 through April 30: Must maintain their account balance through July 31.
  • Deposits made on May 1 through May 31: Must maintain their account balance through August 30.
  • Deposits made on June 1 through June 30: Must maintain their account balance through September 31.

Cash bonuses are deposited to your account about three months after the end of the maintenance period

Tastytrade: Up to $5,000

Tastytrade’s bonus offer is only available to new customers. When you open and fund a new individual, joint or trust account, you can qualify for a bonus between $50 and $5,000. The bonus amount is dependent on the amount you deposit:

Deposit Amount Bonus
$2,000-$4,999
$50
$5,000-$24,999
$100
$25,000-$99,999
$500
$100,000-$249,999
$2,000
$250,000-$499,999
$3,000
$500,000-$999,999
$4,000
$1,000,000+
$5,000

Details

To qualify for the bonus, you must be a resident of the U.S., and you must be a new Tastytrade customer. You’ll need to fund the new account with $2,000 or more and you must enter the referral code “MYNEWBONUS” at the time of opening a new account.

The bonus is typically awarded one to four business days after the initial deposit settles. Customers must keep their deposit plus the value of the bonus in their account for at least 12 months. If you withdraw it before that point, the awarded bonus cash will be withheld.

TradeStation: Up to $3,500

TradeStation offers commission-free trading, and new customers who transfer money to their TradeStation Accounts can qualify for up to $3,500 in bonuses.

Deposit Amount Bonus
$5,000-$24,999
$150
$25,000-$99,999
$300
$100,000-$249,999
$500
$250,000-$499,999
$1,000
$500,000-$999,999
$2,000
$1000,000+
$3,500

Details

To qualify for TradeStation’s bonus offer, open a new account and enter the code “TSTVAGFD.”

You’ll need to deposit at least $5,000 to qualify for the bonus, and the new account must be funded within 45 calendar days of its opening. Once you make the qualifying deposit, the money has to stay in the account for 270 days. At the end of that period, TradeStation will issue the bonus.

TradeStation’s bonus offer doesn’t have an expiration date and could disappear at any time.

JP Morgan: Up to $700

If you open and fund a new J.P. Morgan Self-Directed Investing account—either a general brokerage account or retirement account—you can qualify for a bonus of up to $700.

Deposit Amount Bonus
$5,000-$24,999
$50
$25,000-$99,999
$150
$100,000-$249,999
$325
$250,000+
$700

Details

The J.P. Morgan bonus is only available to new customers who open an account through Chase’s promotion page by April 12, 2024. Once the account is open, you have 45 days to deposit at least $5,000. Maintain the balance for at least 90 days from your account opening date, and the bonus will be deposited into your account within 15 days.

Qualifying accounts include:

E*TRADE: Up to $600

While many bonus offers require you to deposit $5,000 or more, E*TRADE has a more modest requirement. You can qualify for a bonus by depositing as little as $1,000, and the bonus amounts for smaller deposits are higher than other brokerages offer. Depending on how much you deposit, you can qualify for a bonus of up to $1,000.

Deposit Amount Bonus
$1,000-$24,999
$100
$25,000-$49,999
$150
$50,000-$99,999
$200
$100,000-$199,999
$300
$200,000-$499,999
$600
$500,000+
$1,000

Details

To qualify for E*TRADE’s bonus, you must open a new brokerage (non-retirement) account and enter promotional code “BONUS24” by May 31, 2024. You’ll need to deposit $1,000 or more within 60 days of opening an account. Once the 60-day period is over, E*Trade will issue the bonus within seven business days.

Merrill Edge: Up to $600

With a Merrill Edge Self-Directed account, new customers can receive up to $600 in bonuses by making a qualifying deposit within 45 days of account opening.

Deposit Amount Bonus
$20,000-$49,999
$100
$50,000-$99,999
$150
$100,000-$199,999
$250
$200,000+
$600

Details

To claim the bonus, you must open a new self-directed investment account and enter code “600ME.” Eligible accounts include cash management accounts and IRAs.

You’ll need to deposit at least $20,000 within 45 days of account opening, and you must maintain the balance for at least 90 days. After the 90-day period ends, your cash bonus will be deposited into your account within two weeks.

M1: Up to $500

Deposit at least $10,000 into a new M1 brokerage account, and you can receive a bonus between $75 and $500.

Deposit Amount Bonus
$10,000-$29,999
$75
$30,000-$49,999
$150
$40,000-$99,999
$250
$100,000+
$500

Details

The M1 bonus is only available to new customers who have never registered for an M1 account before and who register through their promotion page. You’ll need to deposit at least $10,000 within 14 days of account opening. If you meet the deposit requirement, the bonus will be distributed six months after your signup date.

This offer expires on December 31, 2024.

TD Bank: Up to $500

Open and fund a new TD Bank investing account by April 30, 2024, and you’ll get up to $500 in bonus cash. This offer applies to TD Bank Automated Investing, its robo-advisor option. Unlike many other companies, TD Bank has a low initial deposit requirement to earn a bonus, and its maximum bonus amount has a lower-than-usual deposit requirement too.

Deposit Amount Bonus
$1,000-$4,999
$25
$5,000-$24,999
$100
$25,000-$49,999
$200
$50,000-$99,999
$500

Details

To qualify for TD Bank’s bonus offer, you must open a new TD Bank Automated Investing account by April 30, 2024 and fund your account with at least $1,000 within 30 calendar days of account opening. You must maintain the balance for at least 90 days, and the cash bonus is based on your average monthly balance.

After meeting those requirements, the bonus will be issued to you within 15 calendar days.

Charles Schwab: $101

With many promotions, you have to deposit thousands to qualify for a bonus. For those just starting out, the Schwab Starter Kit could be a useful alternative. New investors who open an account and deposit at least $50 can receive $101 to purchase fractional shares of stocks.

Details

To qualify for the bonus, you must open a new account through Charles Schwab’s promotion page and deposit at least $50 within 30 days of account opening. Once you meet that requirement, Schwab will deposit $101 into the account, which is automatically used to purchase fractional shares of the top five stocks on the S&P 500 at that time. However, you can cancel the order and keep the $101 to save or invest as you like.

Only new customers who open individual taxable retail brokerage accounts are eligible for this offer.

What Is a Brokerage Account?

A brokerage account is necessary to buy and sell securities, including stocks, bonds, mutual funds and ETFs.

Unlike retirement accounts or education savings plans, there aren’t any restrictions on when you can withdraw money from a brokerage account or how you can use the money in your account. These vehicles can be used to help you achieve any number of financial goals.

What Is a Brokerage Account Bonus?

Some online brokers offer bonuses to attract new customers. If you meet the broker’s requirements, such as depositing or transferring a specific amount of money, the broker will give you a cash bonus.

How To Compare Brokerage Accounts

When comparing brokerage accounts, consider the following factors:

  • Account minimums. While some brokerage accounts have $0 minimums, others require you to deposit $2,500 or more. For new investors, higher minimums can be difficult to meet at first, so a low account minimum can be appealing.
  • Securities. Depending on the brokerage account, you may be able to invest in a range of securities, including stocks, bonds, mutual funds and ETFs. Some offer other investing choices, such as options, futures trading or cryptocurrency. For hands-off investors, some brokerage accounts feature prebuilt portfolios based on your age, investment goals and risk tolerance.
  • Fees. Fees can vary greatly between brokerage accounts. Common fees to consider include trading fees, commissions, monthly fees or annual fees.