X box from optionshouse with new 10K acct and 15 trades @ &3.95

The free Microsoft Xbox promotion applies only to newly funded OptionsHouse customers who initially fund their account within 60 days of completing the application. To be eligible for the free Microsoft Xbox (promotion referred to as a promotional item), you must satisfy both of the following requirements: (1) Fund a new OptionsHouse account with a minimum of $10,000 for a cash or margin account using promo code XBOX; (2) Make 15 commissionable trades within 90 days after funding your new OptionsHouse account. Note: Commission-free trades do not qualify toward the 15 trades. Fulfillment of the Microsoft Xbox will occur within 30 days once both requirements are fully satisfied. Limit one promotional item per household please. This promotion may not be combined with other offers and additional restrictions may apply. Only individual or joint OptionsHouse accounts, personal trust accounts, and business accounts are eligible. The promotion is not available for retirement accounts including, among others, IRA, Roth IRA, SEP, and SIMPLE accounts; 401(k) and 403(b) workplace retirement plans; UTMAs and UGMAs; fiduciary accounts (including custodial accounts, estate accounts); college investment trust accounts; and 529 college savings plan accounts. OptionsHouse will provide customer shipping and contact information to a third party fulfillment vendor, Links Unlimited. Promotional item will ship directly to customer from the vendor. Links Unlimited will only ship products to addresses within the 50 states, Washington D.C. and APO/FPO military addresses. OptionsHouse reserves the right to restrict or revoke this offer at any time. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Taxes related to OptionsHouse offers are your responsibility. Retail values totaling $600 or more during the calendar year will be included in your consolidated Form 1099. Microsoft Xbox images are the property of Microsoft Inc. and used with permission. © 2012 Microsoft. All rights reserved. Void where prohibited. OptionsHouse reserves the right to debit any account that has received a promotional item and has either closed their account or withdrawn assets below the minimum qualifying funding level within 180 days of original funding date. Accounts receiving a Microsoft Xbox and failing to meet the 180-day funding requirement may be debited $300.00. This promotion expires December 31, 2013.

xBox Link: https://www.optionshouse.com/signup/?promo=XBOX#page/Account%20T...
100 Free Trades: https://www.optionshouse.com/signup/?promo=FREE100#page/Account%...
There's also a Nexus 7 one, but I can't recall the link.

Nonetheless - OptionsHouse has a pretty cheap platform to buy options (especially compared to places like ETrade or Scottrade) - and only a $5-10k minimum + 15 trades to get these bonuses.

I think this is the correct link for the Xbox promotion: http://landing.optionshouse.com/ef/xbox/

I couldn't find the Nexus 7 yet.

this is an xbox 360. I read the entire announcement, saw "360" no where, and thought, "surely they're not that out of touch..." so I clicked the link to check.

Thanks for the Nexus link. I already sent them an email but would like to ask here too.

If I fund my account with $10,000 and if my value of the stocks I purchase make my account less than $10,000 that won't void my promotion right? It is only when I withdrawal the cash and pushes the initial deposit less than $10,000 would disqualify it right? Thanks.

NoBoB said:   To describe a user in violation of the funding terms, the fine print at the bottom of the page specifically uses the wording "closed their account or withdrawn assets below the minimum qualifying funding level within 180 days of original funding date". No mention is made of normal market fluctuations (which wouldn't be fair anyway). It never says anything like 'must maintain a minimum balance of...'

As long as you don't withdraw, you're fine. If you do make withdrawals, you'd be risking having the account balance go below 10k before the 180 days are up. It would suck to have a $3000 profit in your account and withdraw $2000, only to have a market downdraft on day 179 pull you below 10k and void your Nexus.

Yeah, that makes sense. Thanks!

avalon6 said:   The 100 free trades offer is a much better deal. Just $5000 min to open and no requirement to keep account open after that. For the xbox or nexus 7 deal, you have to spend at least $75 on the 15 required commission trades, fund your account with $10000 and keep it open for 6 months.
I pretty sure there is a time limit on the 100 free trades. For stocks the commission is $3.95 or about $60 for 15 trades. The 6 month requirement is less than the 12 months of other brokerage offers.

Not to mention the 1099 you'll get for the Xbox.

Options House also offers bonuses for bringing IRA's, ranging from $600 or $250,000 to $200 for $25,000, using a link from Money Hustler. These offers are similar to those offered by other brokerage firms, although the $200 fro $25,000 appears unusually generous. Their $4.00 (3.95 stock trades) appears attractive. While they have a title with the word Options, I see no reason they could not be used for a stock portfolio, and the low commissions on stocks may have even been designed to attract the options business.

A benefit of taking the offers discussed here would include a chance to try them out before doing the work of moving an IRA.

I discuss bonuses for moving larger amounts of money in a thread on Brokerage bonuses.

Yoksel said:   . . . .Considering the cost of transactions it's not worth the hassle unless you actually want to execute these transactions anyways.

Transactions could be done rapidly in one session if one wished, and so might be done by someone who was worried about the market moving against them.

Obviously this offer is most attractive to someone who would plan to make such a large number of transaction in any case, and would incur commissions (possibly higher) elsewhere.

rpi1967 said:   kvs25 said:   Not to mention the 1099 you'll get for the Xbox.
Do not mention it since the 1099 is for over$600 in value in bonuses in 1year.
$600 is the requirement, 1099 can be filed for any amount. Considering they will have to create 1099 for transactions anyways, they will likely include the cost of the present in the consolidated form.

Yoksel said:   rpi1967 said:   kvs25 said:   Not to mention the 1099 you'll get for the Xbox.
Do not mention it since the 1099 is for over$600 in value in bonuses in 1year.
$600 is the requirement, 1099 can be filed for any amount. Considering they will have to create 1099 for transactions anyways, they will likely include the cost of the present in the consolidated form.
The fine print states the $600 threshold, I know that it has been their practice. Wonder if this related to the $600 threshold for casino winnings?

I got the same message about Nexus 16GB. Sucks but I am moving to this brokerage since stock order is the cheapest and I don't have enough to open one of those BoA/Wells Fargo free trades account.
I hope OptionsHouse stock trading platform is good.

joe55555 said:   yea its probably not worth it unless you want the nexus or the account

3.95 x 15 = 59.25

You would probably want to make 16 trades

shocks said:   joe55555 said:   yea its probably not worth it unless you want the nexus or the account

3.95 x 15 = 59.25

You would probably want to make 16 trades

The argument for planning on 16 trades is that a buy is normally offset by a sell.

You can get to 15 trades, if what might have been one trade is broken into two. You might for instance buy $2,000 of something, and then another $2,000 of it, and then sell all $4,000 in one transaction.

You might also end up with 15 trades if you plan to end up with a position at the deadline which you plan to hold, either to make it long term(which may eventually be sold), or simply because Options House is as reasonable a place to hold a position as another firm, since they lack maintenance fees.

Interested in hearing about account opening process, esp. for trust and partnership accounts.

rpi1967 said:   tuphat said:   Interested in hearing about account opening process, esp. for trust and partnership accounts.esp.excluded from offer.

Really? From landing page, emphasis added:

Only individual or joint OptionsHouse accounts, personal trust accounts, and business accounts are eligible. The promotion is not available for retirement accounts including, among others, IRA, Roth IRA, SEP, and SIMPLE accounts; 401(k) and 403(b) workplace retirement plans; UTMAs and UGMAs; fiduciary accounts (including custodial accounts, estate accounts); college investment trust accounts; and 529 college savings plan accounts.