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From Moneyhustler I lean that Trade King has a very attractive bonus at http://content.tradeking.com/trading/stocks-options/200-cash.php... 

It is for $200 after depositing $3,000 and doing 3 trades (each at $4.95) within 90 days, and keeping money there for six months. You can do only three trades by buying twice and selling once the same stock. Of course you could make three purchases, and then pay a fourth commission when you liquidate, or possibly transfer the position out later. I opened the account and am ACHing  money over (slightly more than $3000, so I can not be left with univested funds that I cannot withdraw without falling below $3,000).

They also are offering referral bonuses of $50 for you and $50 for a friend, but it is likely the friend cannot get the $200 offer.

The dollar value of this offer is small, but after commissions it pays 12.2%, plus (or minus), the results of the trading you do, which is far higher than most offers out there. They also in another ad, offer to reimburse up to $150 in transfer fees charged by the other broker. Since you have to do at least three trades, many will not want to bother with transferring positions in, but there may be cases where you were planning to liquidate positions, and this is an attractive way to fund the account, and then make your sales at their low commissions.

" New customers are eligible for this special offer after opening a TradeKing account with a minimum of $3,000. You must apply for cash credit by clicking through this page to our online application. To qualify for this offer, new accounts must be opened by 4/30/2015, funded with $3,000 or more within 30 days of account opening, and executed at least 3 trades within 90 days of account opening. New accounts receive cash credit within 10 business days of meeting promotion requirements. Offer is not transferable or valid in conjunction with any other offer. Not valid for any retirement accounts. Open to US residents only and excludes employees of TradeKing Group, Inc. or its affiliates, current TradeKing, LLC account holders and new account holders who have maintained an account with TradeKing, LLC during the last 30 days. TradeKing can modify or discontinue this offer at anytime without notice. The minimum funds of $3,000 must remain in the account (minus any trading losses) for a minimum of 6 months or TradeKing may charge the account for the cost of the cash awarded to the account. Offer is valid for only one account per customer. Other restrictions may apply. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business."

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I didn't see an account closing fee.   There are fees for inactive accounts and outgoing ACAT transfers.  Cash deposit / no margin looks like the best choice.

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ProfessorEd said:   From Moneyhustler I lean that Trade King has a very attractive bonus at http://content.tradeking.com/trading/stocks-options/200-cash.php... 

 

  Thanks for sharing.

I used Tradeking for about a year during/after the Zecco merger/acquisition and found their interface pretty lackluster, although not nearly as bulky/unintuitive as Zecco. I had to call Tradeking quite a few times for random things, and they were generally quite good about compromising on fees or resolving my concerns.

I eventually ACAT'ed out and closed my account to take advantage of another bonus offer and was only assessed the transfer out fee, for which the subsequent broker reimbursed

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I just talked to Sharebuilder. Once they had a no new bonuses if you had already received one. This they did it by type of account, I was able to get a small bonus by opening a joint account, since my previous one had been individual.

The current policy is to go back only six months.

They now have a $600 for $125,000 offer (hold for 9 months I think), which is one of the more attractive offers out there for that size of funds moved. Their offers are at http://content.sharebuilder.com/mgdcon/jump/Web/welcome/allwt/LS...

An interesting feature of their schedule is that the bonus as a percentage of the new money goes up as the size goes down, with say $100 gotten for $10,000, which makes their offers more attractive for smaller sums.  While maximizing bonuses is a problem, they may be useful for  smaller sums left over after going with others firms.

In some cases, a given sum would bring bigger bonuses if divided into two accounts (thing spouses). The six month limit would prevent opening two at one time.

She said it was fairly easy to combine accounts (my experience a few years ago was that it did take a notarized document in some cases).

They said they had a limit of three individual accounts per person, possibly aimed at preventing you from  taking advantage of them by opening multiple small accounts, say one every six months.

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ProfessorEd said:   I just talked to Sharebuilder. Once they had a no new bonuses if you had already received one. This they did it by type of account, I was able to get a small bonus by opening a joint account, since my previous one had been individual.

The current policy is to go back only six months.

 

  Thanks for sharing -- amazing change in policy indeed. Would you know if this is documented anywhere? That is, the change from once per "lifetime" of the account to once per 6 months? I just re-read the Sharebuilder promo and it just has the standard language about duration the funds have to remain.

If this holds true, it really changes the whole playing field, as I've been strategically transferring from one broker to the next, waiting patiently until the max offer pops up, before capitalizing. If Sharebuilder (and hopefully other firms) have moved to just a 6 month, or even 2 year, requirement, it'd really open up the flood gates for churning like a credit card -- e.g. Chase cards specify that applicants only qualify for the promotion/points/bonus every 24 months.

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Ameritrade has a targeted offer, expires 4/13/2015.  
To receive commission-free Internet equity, option, or ETF trades and $100 bonus, account must be funded with $25,000-$49,999 by 4/13/15. To receive $200 bonus, account must be funded with $50,000-$99,999 by 4/13/15. To receive $500 bonus, account must be funded with $100,000-$249,999 by 4/13/15. To receive $1,000 bonus, account must be funded with $250,000 or more by 4/13/15.

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SBpromo (228.46kB)
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monto888 said:   ...amazing change in policy indeed. Would you know if this is documented anywhere? That is, the change from once per "lifetime" of the account to once per 6 months? I just re-read the Sharebuilder promo and it just has the standard language about duration the funds have to remain.
The “6 month” policy has been in effect since at least 2012. I can confirm by personal experience. I’ve attached one of the many offers I’ve received from Sharebuilder that has the “documentation” you requested. 

By the way, as the letter states, the bonus is good for existing Sharebuilder customers as well by using promo code AG15GET600*Q1D (expires 04.01.2015).

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mh83 said:   
monto888 said:   ...amazing change in policy indeed. Would you know if this is documented anywhere? That is, the change from once per "lifetime" of the account to once per 6 months? I just re-read the Sharebuilder promo and it just has the standard language about duration the funds have to remain.
The “6 month” policy has been in effect since at least 2012. I can confirm by personal experience. I’ve attached one of the many offers I’ve received from Sharebuilder that has the “documentation” you requested. 

By the way, as the letter states, the bonus is good for existing Sharebuilder customers as well by using promo code AG15GET600*Q1D (expires 04.01.2015).

The image of terms doesn't mention any restrictions about the bonus, except "ShareBuilder can end this promotion at any time, and refuse or recover any bonus, if it determines you violated ShareBuilder’s Account Agreement." In the past, I've only heard of once per lifetime bonus for the ING or Capital 1 360 Savings and Checking; not with ShareBuilder.
Their Terms seem to assume that you're going to open up an IRA. For regular, individual accounts (non IRA), ShareBuilder normally reports these bonuses on 1099-MISC.

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Looks like Fidelity has put me on their bonus blacklist.  I'm going for the targeted Ameritrade offer and maybe Sharebuilder as well (for existing accounts): AG15GET600*Q1M -- EXPIRES 4/1/15.     

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lokimoki said:   Looks like Fidelity has put me on their bonus blacklist.  I'm going for the targeted Ameritrade offer and maybe Sharebuilder as well (for existing accounts): AG15GET600*Q1M -- EXPIRES 4/1/15.     
  
Thought this happened to me too a few months ago. When I went to their bonus page and logged in, the website stated I did not qualify for cash bonuses.

Opened an online chat, they gave me a phone number to call, and was able to open an account and receive the bonus without a problem. The bonus actually hit sooner (within days of funding) than in the past when I got the bonus through the website (would take weeks). So you might want to give it a try.

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wxl31 said:   
lokimoki said:   Looks like Fidelity has put me on their bonus blacklist.  I'm going for the targeted Ameritrade offer and maybe Sharebuilder as well (for existing accounts): AG15GET600*Q1M -- EXPIRES 4/1/15.     
  
Thought this happened to me too a few months ago. When I went to their bonus page and logged in, the website stated I did not qualify for cash bonuses.

Opened an online chat, they gave me a phone number to call, and was able to open an account and receive the bonus without a problem. The bonus actually hit sooner (within days of funding) than in the past when I got the bonus through the website (would take weeks). So you might want to give it a try.

No bonuses for me when adding money to an existing account.  Fidelity said these are now "invitation only" which doesn't seem accurate.  My last bonus was in May 2013.

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lokimoki said:   Looks like Fidelity has put me on their bonus blacklist.  I'm going for the targeted Ameritrade offer and maybe Sharebuilder as well (for existing accounts): AG15GET600*Q1M -- EXPIRES 4/1/15.     
  What did you do to get on their blacklist.

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ProfessorEd said:   
lokimoki said:   Looks like Fidelity has put me on their bonus blacklist.  I'm going for the targeted Ameritrade offer and maybe Sharebuilder as well (for existing accounts): AG15GET600*Q1M -- EXPIRES 4/1/15.     
  What did you do to get on their blacklist.

No clue. Fidelity said everything was OK with my account and that I didn't "abuse" the bonuses over the years.  Then they said all bonuses are now "invitation only."  I'm hoping this is a two-year look-back since my last bonus was May 2013.  Either way I'm moving some Fidelity positions to Ameritrade and ETrade (who said they'd match the Ameritrade offer).

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Sharebuilder has a working code for 50 dollars by making 1 trade. There is no minimum to trigger the bonus. I received it within a week of making a small trade. The funds are investable, but not transferable for 4 months. MC50FT is the code on account creation. it expires 1/29/16


http://content.sharebuilder.com/MgdCon/jump/Web/welcome/allWT/ma...

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By the way Zions Direct is free stock and bond trades for accounts $250K +. 

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Ameritrade bonuses post same-day.  Sharebuilder: no TOD accounts.

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One thought on some of these promotions is that when you get lots of free trades, strategies involving buying individual stocks may be more attractive. In the years of my youth, I bought individual stocks, somewhat randomly, and sold the losers before they went long term, and kept the winners. Anyone looking at my tax returns would see I consistently had $3,000 in losses deducted against other sources of income, and might have concluded I was an incompetent investor. However, my net worth kept increasing.

If you have big winners and hold them until they are long term, the tax rate is lower. Also, if you give them to charities you can take a charitable donation for the market value. With a range of fairly variable stocks you should have some winners and losers (I  am presuming no skill at stock picking). When you die, your heirs can inherit the stocks and their basis is the market value at the date of death (or the alternate valuation date six months later).

Thus, you can reduce the total tax rate by picking individual stocks rather than using mutual funds or exchange traded funds. The cost to this is having to pay more in commissions, which is partially offset by avoiding the management fees of mutual funds and exchange traded funds. Instead of investing say $100,000 in a single exchange traded fund for say $7.00 per stock, buying 20 stocks would cost $140, but you would still come out ahead after taxes, I suspect. Remember you save the management fees charged by funds.

With Merril Edge I can get 100 free trades per month free, which can make this strategy attractive. I am moving half a million to E*Trade and I get 500 free trades for the first 90 days, which reduces the cost of buying individual positions. Other brokerage firms appear to have similar offers when you bring significant money over.

Of course, eventually selling might cost money. However, if you hold for several years (which increases the variance in the value of the stocks) the expenses should not be too high, although the heirs or charities you give the stocks to would need to pay commissions to sell. However, these bonus offers appear to occur regularly, so it is quite possible that in a year or so you might be able to move to another firm where you could do some selective selling, if desired.

The required holding period in most firms appears to be less than a year, so in Theory you could meet the required holding period, and then transfer the account to another firm where you would have the free trade needed to liquidate your losing position and possibly some of the other positions you wanted out of for some reason (such as needing cash for living expenses).Hopefully, you would get another bonus then and enough free trades to avoid commissions.

Unless the rules change, Merrill Edge may be available to liquidate with the 100 free trades. Firms seem willing to pick up any fees charged by the firm losing the assets.

I don't know how long firms would be willing to let you move in and out of their firms, but since the employees seems to be partially compensated on the assets that are brought in, I suspect it would be a while before they refused to give bonuses, especially if there were not obvious abuses (moving out and then coming right back in).





 

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danile666 said:   Sharebuilder has a working code for 50 dollars by making 1 trade. There is no minimum to trigger the bonus. I received it within a week of making a small trade. The funds are investable, but not transferable for 4 months. MC50FT is the code on account creation. it expires 1/29/16


http://content.sharebuilder.com/MgdCon/jump/Web/welcome/allWT/ma...

  This offer is attractive for those with little money, and some time.

However, they limit you to one bonus per six months, so taking such an offer could prevent you from later taking a much larger offer.

I was also told they had a limit of 3 accounts per person (probably meant to prevent frequent use of such offers). I do not know how easy it is to remove an account, but possibly taking such a small offer would create an account that was an obstacle to doing things later.

I just called about getting the $600 for $125,000 offer (see http://www.hustlermoneyblog.com/capital-one-sharebuilder-600-bon... The first representative  could not find it, but when given the code transferred me to a more senior representative, who showed me how to apply it to an existing account which had been at $0 for several years. It declined saying it was for only new accounts. I then applied for a new account, and hopefully it will go forward.

You might consider small offers like this for custodial accounts for your children. If you are not contemplating giving them larger sums (which is sometimes done for income tax or estate tax reasons), you may not be worried much about losing eligibility for later offers. Of course you will need a second trade to convert the money back to cash into remove it.

Legally, you are managing the accounts for the benefit of the child, but for small sums it is not hard to find a use for the money that is for the child (i.e. one month's food could costs $50 or so).

There is a way to consolidate accounts with different owners, but it requires notarization. Some years ago I took several small offers, and ended up with multiple accounts with small positions in them (which as a courtesy they will liquidate for a lower than normal commission, leaving you with $.01 in the account). Eventually, when I had to go to a notary anyhow, I was able to merge them with my main account, and then liquidate them. (It was not hard to meet the legal requirement that the funds be used for the benefit of the children.)

If you are considering something like this, I would suggest investing each account in the same position so that if consolidated, it would be only one sale and one commission to pay.

At the time I hoped a small stock investment cold be used to educate the children, so I chose McDonalds as the company. This way they could be a part owner of something they had heard of.

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lokimoki said:   
ProfessorEd said:   
lokimoki said:   Looks like Fidelity has put me on their bonus blacklist.  I'm going for the targeted Ameritrade offer and maybe Sharebuilder as well (for existing accounts): AG15GET600*Q1M -- EXPIRES 4/1/15.     
  What did you do to get on their blacklist.

No clue. Fidelity said everything was OK with my account and that I didn't "abuse" the bonuses over the years.  Then they said all bonuses are now "invitation only."  I'm hoping this is a two-year look-back since my last bonus was May 2013.  Either way I'm moving some Fidelity positions to Ameritrade and ETrade (who said they'd match the Ameritrade offer).

  I recently got the united bonus miles from Fidelity in Jan 2015, after last getting it in Nov 2013. I didn't get any invitation, just went here and signed up. Possibly it changed since then, but just for a reference point.

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To continue with my warning against opening accounts with Sharebuilder for small amounts.

I recently tried to open an account for the $600 for $125,000 bonus. I could not add the code to an existing account, and with the help of an agent it was opened, and the code added. I learned today that "It has been noted that you have opened multiple accounts, with identical registration information. We have restricted from activity all but the first of such identical accounts. Future identical accounts will be likewise restricted."

It does appear that one account was still alive in 2012, starting the year with about $10 and being at $0 at year end. I forget when it had been opened, but it appears to have been much earlier, when they were running lots of promotions designed to get you to open an account and do something with it. Reading old messages it appears to have existed in mid-2008. I can see references to children's custodial accounts opened in 2007, when they were running campaign on giving the "gift of stocks," and you could purchase gifts certificates that could be used to buy stocks worth slightly more than the cost of the gift certificates.

Since then (which was before Capital One took them over) they have shifted their marketing from only trying to get new investors looking for convenient ways to make small regular investments, to having offers that appear designed to attract investors with more substantial funds. I personally think they have made a mistake in not having a system that automatically rejects applications from those with multiple accounts if that is what they want to do), rather than letting them be opened (and customers start planning to fund them and to deciding how to invest the funds) and then later deciding to freeze the accounts.

One lesson seems to be to be cautious about taking advantage of their small offers (unless realistically that is all you will probably do) if you later may want to use on their more profitable offers. It might also pay to close out unused accounts, rather than just letting them remain open (although I do not know if that would prevent incidents such as this).

Their CSR is asking someone in operations to remove the restriction on the new account, and that may work, since it seems that what has happened is an unfortunate result of policies put in place for other purposes, and promotions run years ago.

 

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ProfessorEd said:   ... I recently tried to open an account for the $600 for $125,000 bonus. I could not add the code to an existing account, and with the help of an agent it was opened, and the code added. I learned today that "It has been noted that you have opened multiple accounts, with identical registration information. We have restricted from activity all but the first of such identical accounts. Future identical accounts will be likewise restricted."
...
I personally think they have made a mistake in not having a system that automatically rejects applications from those with multiple accounts if that is what they want to do), rather than letting them be opened (and customers start planning to fund them and to deciding how to invest the funds) and then later deciding to freeze the accounts.

One lesson seems to be to be cautious about taking advantage of their small offers (unless realistically that is all you will probably do) if you later may want to use on their more profitable offers. It might also pay to close out unused accounts, rather than just letting them remain open (although I do not know if that would prevent incidents such as this). ...

Share Builder states "Limit one ShareBuilder bonus per customer or custodial beneficiary." You should not be allowed to do get more than 1 bonus, especially if you have multiple accounts open at the same time. One lesson you highlight: Close out your multiple accounts that have a $0 balance. Another lesson: Share Builder has decent offers like the recent one that offers $100 bonus for investing $10,000, $200 for $25,000, $300 for $50,000, or $600 for $125,000.;; or average offer, blah offer of $100 bonus for $15,000 invested, $200 for $50,000, $300 for $100,000, $600 for $200,000.

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bankdealsrule said:   
ProfessorEd said:   ... I recently tried to open an account for the $600 for $125,000 bonus. I could not add the code to an existing account, and with the help of an agent it was opened, and the code added. I learned today that "It has been noted that you have opened multiple accounts, with identical registration information. We have restricted from activity all but the first of such identical accounts. Future identical accounts will be likewise restricted."
...
I personally think they have made a mistake in not having a system that automatically rejects applications from those with multiple accounts if that is what they want to do), rather than letting them be opened (and customers start planning to fund them and to deciding how to invest the funds) and then later deciding to freeze the accounts.

One lesson seems to be to be cautious about taking advantage of their small offers (unless realistically that is all you will probably do) if you later may want to use on their more profitable offers. It might also pay to close out unused accounts, rather than just letting them remain open (although I do not know if that would prevent incidents such as this). ...

Share Builder states "Limit one ShareBuilder bonus per customer or custodial beneficiary." You should not be allowed to do get more than 1 bonus, especially if you have multiple accounts open at the same time. One lesson you highlight: Close out your multiple accounts that have a $0 balance. Another lesson: Share Builder has decent offers like the recent one that offers $100 bonus for investing $10,000, $200 for $25,000, $300 for $50,000, or $600 for $125,000.;; or average offer, blah offer of $100 bonus for $15,000 invested, $200 for $50,000, $300 for $100,000, $600 for $200,000.

  Update. After calling in they agreed to one time exception in which the restrictions will be removed and in a recent phone call it appears the new account is still eligible for the $600 offer. They said no more new accounts will be approved. I understood the one bonus to be lifetime (see discussion above), and had a year or so told I could not get another (for I think a $10,000 deposit) because I had earlier had a small bonus for a small deposit). At that time, I was advised a joint account could be eligible, and I opened one and got the bonus (the account is still there is has grown to about $15,000).

As the discussion above shows, some have been told new bonuses might be possible after six months.

The treating of custodial accounts as separate may be useful to some, but remember putting money in one is legally a gift, and if over $14,000 would require a gift tax return. If there are any readers who are trying to reduce their estate tax bill, possibly gifts of $10,000 could get the $100 bonus. Sensible alternative include 529 plans. In most cases whether or not to give your child large sums of money should not be decided by the availability of a brokerage bonus. However,  if you have decided to do so, and to put it in a custodial account (which means they get control at a legally set age, usually 18 or 21), the Sharebuilder bonus might make them a sensible choice for which firm to put it with.

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For those who've moved their assets around, ProfessorEd or others, may I ask if you've been able to collect the promotional bonuses multiple times? I currently have accounts with Cap One Sharebuilder already, so look forward to transferring out and back in a year later, but am curious if the other firms have similar policies? That is, wait one year and repeat.

I've largely exhausted the list of brokers (Fidelity, Merrill, Scottrade, Ameritrade, BancWest, ETrade , Schwab) by now, so want to see about collecting the second time around...

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monto888 said:   For those who've moved their assets around, ProfessorEd or others, may I ask if you've been able to collect the promotional bonuses multiple times? I currently have accounts with Cap One Sharebuilder already, so look forward to transferring out and back in a year later, but am curious if the other firms have similar policies? That is, wait one year and repeat.

I've largely exhausted the list of brokers (Fidelity, Merrill, Scottrade, Ameritrade, BancWest, ETrade , Schwab) by now, so want to see about collecting the second time around...

  I would suspect you could,but that is just a guess, based on a belief that the representatives get bonuses for recruiting you and would try. There have been occasional mentions of airline miles being earned more than once, and of frequent flyer of Fidelity tightening up, since some were getting them repeatedly.

My only experience is with Sharebuilder where years ago I was lured in by small bonuses for token investments, and after taking advantage of several of them, I was unable to do more. Years later when they had a bonus for bring in $10,000, I could only get it when it was a new joint account (both I and my wife had taken advantage of earlier offers). Couple of years later when they were offering one for $125,000, I ran into problems recounted above, and hopefully resolved. They now have my $125,000, and I presume I will get the bonus eventually.

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For those moving money into Sharebuilder, consider using a wire transfer rather than a ACH. I learned there were 10 day holds on ACH money (can be shortened by letters from the sender of the funds). Wired funds are investable immediately.

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Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

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mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?
  The people who would take advantage of this would not normally hold $125,000 in cash. They would either invest it in stocks, or transfer in securities they would hold anyhow. Then the $600 is extra money minus any expenses associated with the transfer (such as having the money idle for  a few days before they let you trade). For this to be a good deal, you must intend to hold that much in stocks somewhere, or to buy that much somewhere. They appear as reasonable place to hold positions, or to do your purchasing in as most other major low priced brokerage firms. They are hoping that once they have your assets, you will find that the trouble of moving to another firm is not worthwhile and you stay a customer with at least that much invested. This plausible since most of the major firms are similar in their level of services and pricing, and you may not want to move later.

However, at least some customers who were attracted by $600 may later be attracted by some other firms offer of a bonus, or promised of better service, or an unique feature of their accounts. For instance, having $100,000 at Merrill Edge gets you Platinum Honors status at Bank of America, which can get you a 2.6% rebate credit card, and access to other nice benefits.

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mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

For me, I have Vanguard ETFs that I move from brokerage to brokerage, collecting bonuses each year.  The funds are transferred in-kind so they're never out of the market.  My money just goes on little vacations for 9-12 months at a time and brings back cash or FF miles bonuses.  There's a bit of due diligence but it's pretty easy and fee-free.

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Professor ED, Thanks for the explanation.  Basically you would have to hold or trade your positions for 9 months at their commission rates, I believe $6.95 per trade.  If you trade frequently, it may not be a good deal compared to say Interactive Brokers who charges $1/trade.

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FYI

just opened Merrill Edge brokerage. wired in funds yesterday expecting same-day posting...TODAY they tell me that non-BofA wires have holds on them. who the hell holds up wires? ACH's sure, but wires? was pretty ticked, as was planning to capitalize on all the dips yesterday.

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Pipboy said:   
mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

For me, I have Vanguard ETFs that I move from brokerage to brokerage, collecting bonuses each year.  The funds are transferred in-kind so they're never out of the market.  My money just goes on little vacations for 9-12 months at a time and brings back cash or FF miles bonuses.  There's a bit of due diligence but it's pretty easy and fee-free.

  are you leaving the account open each time?

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Pipboy said:   
mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

For me, I have Vanguard ETFs that I move from brokerage to brokerage, collecting bonuses each year.  The funds are transferred in-kind so they're never out of the market.  My money just goes on little vacations for 9-12 months at a time and brings back cash or FF miles bonuses.  There's a bit of due diligence but it's pretty easy and fee-free.

  Which VGD ETF's do you use or recommend for this purpose?

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jamesfatwallet said:   
Pipboy said:   
mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

For me, I have Vanguard ETFs that I move from brokerage to brokerage, collecting bonuses each year.  The funds are transferred in-kind so they're never out of the market.  My money just goes on little vacations for 9-12 months at a time and brings back cash or FF miles bonuses.  There's a bit of due diligence but it's pretty easy and fee-free.

  are you leaving the account open each time?

  
I close them as soon as possible.  Merrill doesn't officially close an account for a year after the account balance goes to zero in case there are any residual dividends, or so they told me.  Some brokerages have account closing fees but you can often get the new brokerage to reimburse you for that.

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mmtraxx said:   
Pipboy said:   
mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

For me, I have Vanguard ETFs that I move from brokerage to brokerage, collecting bonuses each year.  The funds are transferred in-kind so they're never out of the market.  My money just goes on little vacations for 9-12 months at a time and brings back cash or FF miles bonuses.  There's a bit of due diligence but it's pretty easy and fee-free.

  Which VGD ETF's do you use or recommend for this purpose?

  
I use VTI and VXUS.  The key is that the new brokerage has to be able to accept the fund or ETF in-kind.  VTI is the 4th largest ETF in the world so I assume everyone will take it.  VXUS is substantially smaller but I haven't had any issues yet.

rated:
Pipboy said:   
jamesfatwallet said:   
Pipboy said:   
mmtraxx said:   Trying to follow the logic regarding the $600 bonus for $125,000 held for 9 months offer. The effective rate of return is only 0.64%. Is the $125,000 used for opening in existing stock or bonds transferred from another broker instead of cash or am I missing something?

For me, I have Vanguard ETFs that I move from brokerage to brokerage, collecting bonuses each year.  The funds are transferred in-kind so they're never out of the market.  My money just goes on little vacations for 9-12 months at a time and brings back cash or FF miles bonuses.  There's a bit of due diligence but it's pretty easy and fee-free.

  are you leaving the account open each time?

  
I close them as soon as possible.  Merrill doesn't officially close an account for a year after the account balance goes to zero in case there are any residual dividends, or so they told me.  Some brokerages have account closing fees but you can often get the new brokerage to reimburse you for that.

  have you done a full cycle with multiple firms? and gotten the closing fee + ACAT fees reimbursed from all of them?

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Any good brokerage bonus for a new IRA (for about 100k in new money/assets)? At the hustler blog site, I see several for ~$300, TDA with $500. The Fidelity 50k miles (Delta, United, AA) offer is only for non-retirement accounts.

I already have TDA and am looking for any bonus that is better than $300 (or equivalent non-cash bonus).

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fwuser12 said:   Any good brokerage bonus for a new IRA (for about 100k in new money/assets)? At the hustler blog site, I see several for ~$300, TDA with $500. The Fidelity 50k miles (Delta, United, AA) offer is only for non-retirement accounts.

I already have TDA and am looking for any bonus that is better than $300 (or equivalent non-cash bonus).

  Ameritrade and BancWest appear to be $300 for $100k at the moment. If that $100k rises to $125k, Sharebuilder offers $600  -- Ameritrade/most brokers would likely match this offer, as well.

Alternately, if you're not in a hurry, could consider waiting a bit for Merrill Edge -- they have been offering $500 for $100k (or $1000 for $200k) every few months.

rated:
monto888 said:   
fwuser12 said:   Any good brokerage bonus for a new IRA (for about 100k in new money/assets)? At the hustler blog site, I see several for ~$300, TDA with $500. The Fidelity 50k miles (Delta, United, AA) offer is only for non-retirement accounts.

I already have TDA and am looking for any bonus that is better than $300 (or equivalent non-cash bonus).

  Ameritrade and BancWest appear to be $300 for $100k at the moment. If that $100k rises to $125k, Sharebuilder offers $600  -- Ameritrade/most brokers would likely match this offer, as well.

Alternately, if you're not in a hurry, could consider waiting a bit for Merrill Edge -- they have been offering $500 for $100k (or $1000 for $200k) every few months.

  I noticed the Sharebuilder one but the IRA balance is a bit shy of 125k. Being an IRA, I cannot add extra funds to get it to 125k.
Thanks for the Merrill tip. I will wait a couple months to see what they come up with.

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