Received email to open an optionsXpress accont with a min of $500 and receive a $500 bonus after 6 months. This is a brokerage account and you must make at least one trade during the 6 month period and maintain an average balance of $500 during the period. $500 bonus is paid at the end of 6 months.
Here's the info on the account. *Offer limited to one $500 bonus for each newly activated, funded optionsXpress account meeting the terms and conditions of the offer. To qualify for the $500 bonus, the account must be opened through https://www.optionsxpress.com/new_account.asp?asid=2854&cmpid=em... by 11/30/08, a per account average balance of $500 must be maintained for 6 months, and the account must trade at least once. The $500 bonus will be deposited into the account on May 15th, 2009 if terms and conditions are met. A customer can only qualify for the $500 bonus a total of one time. Deposits of new funds or securities from existing optionsXpress accounts are not eligible for this offer. Qualified (IRA), linked and shared accounts are not eligible for this offer. This offer is not valid for optionsXpress associates, non-U.S. residents, and where otherwise prohibited. Customers can not exchange the $500 for other offers, cash or credit. We reserve the right at our sole discretion, to cancel, modify or suspend this offer program at any time without notice.
Just opened an account, I already have an account so I hope that does not disqualify me (terms don't mention it). FYI, I would suggest depositing $500 + whatever commissions you expect to pay since you need to maintain a $500 balance AND make one trade.
Here is the small print from google ad. link in url is slightly different
*Offer limited to one $500 bonus for each newly activated, funded optionsXpress account meeting the terms and conditions of the offer. To qualify for the $500 bonus, the account must be opened through https://www.optionsxpress.com/new_account.asp?intcmp=lplb500ppc&promo=113 or with promo code C3 by 11/30/08, a per account average balance of $500 must be maintained for 6 months, and the account must trade at least once. The $500 bonus will be deposited into the account on May 15th, 2009 if terms and conditions are met. A customer can only qualify for the $500 bonus a total of one time. Deposits of new funds or securities from existing optionsXpress accounts are not eligible for this offer. Qualified (IRA), linked and shared accounts are not eligible for this offer. This offer is not valid for optionsXpress associates, non-U.S. residents, and where otherwise prohibited. Customers can not exchange the $500 for other offers, cash or credit. We reserve the right at our sole discretion, to cancel, modify or suspend this offer program at any time without notice.
optionsXpress, Inc. makes no investment recommendations and does not provide advice, including, but not limited to, financial, tax or legal advice. Content and tools are provided for educational and informational purposes only. Any stock, options, or futures symbols displayed are for illustrative purposes only and are not intended to portray a recommendation to buy or sell a particular security.
Online trading has inherent risk due to system response and access times that may vary due to market conditions, system performance, volume and other factors. An investor should understand these and additional risks before trading. Products and services intended for U.S. customers and may not be available or offered in all jurisdictions.
Just signed up, but when I click to transfer funds ACH it says please call cashier... I don't see a time at which I have to fund the account by? Anyone else having this problem?
anxietykl
Senior Member - 2K
posted: Nov. 29, 2008 @ 8:40p
does ave account balance over 500 mean that if the stock you purchased drops and your balanced falls under the 500 dollar mark for most of the 6 months then you might not get the bonus, so would the best option is to open with around 550 or 600 then buy a low priced stock to keep total cash balance over 500? I have never done one of these bonus offers so I would like to make sure I qualify for the bonus.
The reason I ask is I have an brokerage account elsewhere, and primarily doing this for the bonus. So would the option I suggested above qualify for the bonus based on your experiences. Thanks!
DreamKrusher said: Based on the last offer account bonus I did with OX, It was only a soft pull if you open a "cash" account. Margin accounts were hard pulls.You have more than 1 account?? I already have one with them, so if I can open another one, that would be wonderful.
pyro123
Senior Member
posted: Nov. 29, 2008 @ 9:01p
To qualify for the bonus, Do we open a cash, cash/margin or Portfolio margin account? the ad mentions one trade so i guess is a cash/margin account?
markettimer
Enthusiastic Member
posted: Nov. 29, 2008 @ 9:08p
I opened a cash account and requested an ACH transfer. They requested a photocopy of a valid ID. I guess a scanned copy of my driver's license is fine?
Thanks OP. I had no problems opening, but it seems like I have to wait on trial deposits in order to fund it. Will I still receive the bonus since the account won't be funded by tomorrow? (I realize that's a stupid question since noone here actually is Options X but I thought I might have missed the fine print somewhere.
cmraynew
Member
posted: Nov. 29, 2008 @ 9:11p
Thanks much OP.
I did ACH, and no problems... though I will have to wait for the minuscule deposits to show up over the next couple days. I have not had an account with them before.
pyro123 said: To qualify for the bonus, Do we open a cash, cash/margin or Portfolio margin account? the ad mentions one trade so i guess is a cash/margin account?
Any of them should work. I opened a cash account to avoid a hard pull.
therivler1 said: DreamKrusher said: Based on the last offer account bonus I did with OX, It was only a soft pull if you open a "cash" account. Margin accounts were hard pulls.You have more than 1 account?? I already have one with them, so if I can open another one, that would be wonderful.
I do not have any open accounts with them currently. I closed my account back in July 08.
The small print states "Deposits of new funds or securities from existing optionsXpress accounts are not eligible for this offer. Qualified (IRA), linked and shared accounts are not eligible for this offer"
It does not explicitly state existing customers are not eligible.
The key is "per account average balance of $500 must be maintained for 6 months" - make sure if you are doing ACH transer you put enought in there to bring up the average for the days in early December when the money is not available yet. Then make your trade at the end of April so you comission is not taken yet allowing your minimum investment in the account.
Crossing fingers for May 15th.
MikeR397
Senior Member - 3K
posted: Nov. 29, 2008 @ 11:07p
Looks pretty good OP. Planning on opening one for me, mom, dad, sister, and grandma tomorrow. Cheers to adding $2500 to my wallet .
I'll deposit $650 in each account to be safe.
2stepsbehind
Senior Member
posted: Nov. 29, 2008 @ 11:12p
This is the fatwallet I love. Lets keep the deals flowing. Thanks OP!
shade45
Senior Member - 2K
posted: Nov. 29, 2008 @ 11:13p
any hard pull to open the account?
Thanks
MikeR397
Senior Member - 3K
posted: Nov. 29, 2008 @ 11:15p
shade45 said: any hard pull to open the account?
ThanksShouldn't be for a "cash account." Only for margin. Even still, while I value my hard pulls, I'll gladly trade one for $500 .
MikeR397
Senior Member - 3K
posted: Nov. 29, 2008 @ 11:16p
Is this $500 tax free? Or do they issue a 1099? Not that this is a decision breaker, but just curious.
BTW, Thanks again OP.
shade45
Senior Member - 2K
posted: Nov. 29, 2008 @ 11:25p
where do i put the promo code C3? i didn't find a place to put in.
bobopig1
Member
posted: Nov. 29, 2008 @ 11:28p
it is filled for you automatically.
shade45 said: where do i put the promo code C3? i didn't find a place to put in.
2stepsbehind
Senior Member
posted: Nov. 29, 2008 @ 11:41p
bestpurchase said: I was forced to submit photo copied id....
me four (if I'm counting correctly). I tried clicking on option 1, but it automatically said it was unable to verify my identity. Oh well--$500 is worth 42 cents.
RadagastMOD
Senior Member
posted: Nov. 29, 2008 @ 11:44p
Im in. No ID required.
shade45
Senior Member - 2K
posted: Nov. 29, 2008 @ 11:45p
bobopig1 said: it is filled for you automatically.
shade45 said: where do i put the promo code C3? i didn't find a place to put in.
in which step?
dchen2
Member
posted: Nov. 29, 2008 @ 11:50p
so after may 15 once the $500 bonus funds are deposited, can you simply transfer the account balance into your bank account? (figure say I deposited $600, spent $15 for the options trade, and got the $500 bonus... can I transfer the remaining $1085 back into account?
I am not too sure about what this fine print in the offer page means: "Customers can not exchange the $500 for other offers, cash or credit"
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