• filter:
  • Page :
  • 1
  • Text Only
  • Search this Topic »
Voting History
rated:
https://www.scottrade.com/landingpages/offer-details.html

For new customers only:
700 free trades and free options contracts for 90 days

-OR-

For new or existing customers:
$100 cash bonus for 25K
$200 for 50K
$300 for 100K 
etc...
up to $2500 for 1M

Lots of fine print, but the 700 free trades seems like a good deal for a daytrader!

Gamble away fatwalleters.

Member Summary
Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

rated:
Just because the fine print is hard to read on their site:

This 2017 Cash Bonus Offer (“Offer”) is valid for an eligible Scottrade® account (“Registered Account”) which is in good standing, registered for this Offer and funded with at least $25,000.00 in cash or eligible securities (“Eligible Funds”) within 60 days of the Registration Date (“Funding Period”). “Registration Date” is the date the eligible Account is registered. Eligible Account may be registered online or through your local Scottrade branch. Registering an eligible account for this Offer will terminate any previous registration for any other free trades or cash bonus offer. Registration for this offer will render a secondary registration for other offers on the same account invalid.

“Net Deposits” are Eligible Funds deposited into the Registered Account during the Funding Period, minus Eligible Funds withdrawn from the Registered Account during the Funding Period. Net Deposits of $1 million or more will receive $2,500 cash bonus; $500,000-$999,999 will receive $1,000 cash bonus; $250,000-$499,999 will receive $600 cash bonus; $100,000-$249,999 will receive $300 cash bonus; $50,000-$99,999 will receive $200 cash bonus; and $25,000-$49,999 will receive $100 cash bonus. Eligible Funds must come from sources external to Scottrade, and will be valued as of the date received by Scottrade. You must maintain in the Registered Account an amount (minus trading and market volatility losses) equal to the sum of the balance of the Registered Account on the Registration Date, plus the amount of Net Deposits on which Scottrade paid you a cash bonus, at all times for at least one year after the Registration Date, or Scottrade may, in its sole and absolute discretion, charge the account for the cost of the cash awarded to the account. Failure to maintain the required eligible funds account balance for the required period revokes eligibility for this Offer. This is a one-time only offer and Scottrade has no obligation, and you have no right, to receive any such offer, or similar offers, in the future. Please allow up to seven (7) business days from the date of a qualifying deposit for the benefits of this Offer to be available in the Registered Account.

This 700 Free Trades Offer (“Offer”) is valid for one eligible Scottrade® account (“Registered Account”) registered in the name of a new, non-existing client, in good standing, registered for this Offer and funded with at least Fifty Thousand Dollars ($50,000.00) in cash or eligible securities (“Eligible Funds”) within 60 days of the Registration Date (“Funding Period”). The Eligible Account must be registered online or through your local Scottrade branch at the time of opening. Registering an eligible account for this Offer will terminate any previous registration for any other offer. Registering an eligible account for this offer will render a secondary registration for the same account, ineligible. “Registration Date” is the date the eligible Account is registered.

Eligible Funds must come from sources external to Scottrade, and will be valued as of the date received by Scottrade. You must maintain in the Registered Account an amount (minus trading and market volatility losses) equal to at least Fifty Thousand Dollars ($50,000.00) in cash or eligible securities at all times for at least one year (“Required Period”) after the Registration Date, or Scottrade may charge back any unqualified benefits, including a charge back of any and all standard commissions on any trades which were subject to this Offer, and may charge standard rate commissions on any future trades which occur thereafter. If the account balance or any portion thereof is withdrawn or transferred to a non-Scottrade account prior to the end of the required period, Scottrade may, in its sole and absolute discretion, charge back to you any commission discounts or other reduced rates made pursuant to this offer. Failure to maintain the required eligible funds account balance for the required period revokes eligibility for this Offer. This is a one-time only offer and Scottrade has no obligation, and you have no right, to receive any such offer, or similar offers, in the future. “Net Deposits” are Eligible Funds deposited into the Registered Account during the Funding Period, minus Eligible Funds withdrawn from the Registered Account during the Funding Period.

Commission-free trades may only be executed in the Registered Account and must be used within 90 days of being made available in the Registered Account, subject to a maximum of 700 commission-free trades. Unused trades expire after 90 days of registration. Please allow up to three (3) business days from the date of a qualifying deposit for the benefits of this Offer to be available in the Registered Account. You will not receive any compensation for unused commission-free trades. Only orders for equities priced above $1, exchange-traded funds or options orders that are placed in Eligible Accounts on-line through Scottrade.com, Scottrade trading platforms and/or Scottrade Mobile are eligible for this Free Trades Award Offer. Offer not valid for transactions in Equity Index Options. All other fees and costs, including options per-contract, exercise, assignment and any applicable regulatory fees, still apply, including but not limited to commissions and fees charged for trades in securities priced below $1. Trades partially executed over multiple trading days are subject to standard commission charges for each trading day. Your Scottrade® Brokerage Account Agreement applies to all commission-free trades and transactional activity associated with commission-free trades under this Offer.

Offer valid for new or existing Scottrade clients, U.S. residents age 18 and older. Offer not valid for Scottrade Bank® accounts, accounts for which Scottrade is solely an introducing broker or accounts of clients of registered investment advisors working with Scottrade, Inc. or its affiliates, except for Advisor Access accounts. Offer not valid for Scottrade employees and their immediate families, or employees of any securities regulatory organization or exchange. Offer is non-transferable. Scottrade, and any successors and assigns, reserve the right to terminate, change, extend or remove this Offer at any time in its sole discretion without notice. Other terms, conditions, restrictions or eligibility criteria may apply.

This is not an offer or solicitation in any jurisdiction where Scottrade and its affiliates are not authorized to do business or where such an offer or solicitation would violate any applicable law or regulation. You are solely responsible for your investment decisions. Scottrade credits and offers may be subject to U.S. withholding taxes and reporting at retail value. The value of this credit or offer may constitute taxable income. Scottrade may issue an IRS Form 1099 (or other appropriate form) to you that reflects the value of such credit or offer. Please consult a legal or tax advisor, as Scottrade does not provide tax, financial or legal advice. Nothing in this offer shall constitute any tax, financial or legal advice. Please consult your independent tax, financial or legal advisor for questions concerning your tax, financial or legal circumstances, and for the most recent changes to the U.S. tax code and for rollover eligibility rules, if applicable. Any taxes or tax obligations relating to this Offer are your sole responsibility. Nothing in this Offer shall serve as a recommendation or investment advice of any kind. Investors are solely responsible for their own investment decisions, and should research any investment strategy carefully before investing.

rated:
Setting up for completely being folded into owner TD Ameritrade. Verify that any bonuses previously paid by TD, Ameritrade, or brokers they acquired such as Waterhouse do not invalidate current offer.

rated:
oh,on

rated:
smarteconomist1 said:   Setting up for completely being folded into owner TD Ameritrade. Verify that any bonuses previously paid by TD, Ameritrade, or brokers they acquired such as Waterhouse do not invalidate current offer.
  TD Ameritrade has a one year lockup period for any new bonus offers.

rated:
phisher4 said:   https://www.scottrade.com/landingpages/offer-details.html 

For new customers only:
700 free trades and free options contracts for 90 days

Lots of fine print, but the 700 free trades seems like a good deal for a daytrader!

Gamble away fatwalleters.

  How many out there trade/day trade that much?  For traders like that, holding a security/option for 30 minutes they must think is a long-term capital gain.

rated:
burgerwars said:   
phisher4 said:   https://www.scottrade.com/landingpages/offer-details.html 

For new customers only:
700 free trades and free options contracts for 90 days

Lots of fine print, but the 700 free trades seems like a good deal for a daytrader!

Gamble away fatwalleters.

  How many out there trade/day trade that much?  For traders like that, holding a security/option for 30 minutes they must think is a long-term capital gain.

  
I felt a little dirty posting this deal -- like I'm enabling a gambling addiction.
 

rated:
burgerwars said:   
phisher4 said:   https://www.scottrade.com/landingpages/offer-details.html 

For new customers only:
700 free trades and free options contracts for 90 days

Lots of fine print, but the 700 free trades seems like a good deal for a daytrader!

Gamble away fatwalleters.

  How many out there trade/day trade that much?  For traders like that, holding a security/option for 30 minutes they must think is a long-term capital gain.
 

  
I have only had ~350 trades so far this year
If you trade frequently you can get lower commission. Scottrade actually just lowered mine (I am guessing due to all other brokers going lower).

rated:
smarteconomist1 said:   Setting up for completely being folded into owner TD Ameritrade. Verify that any bonuses previously paid by TD, Ameritrade, or brokers they acquired such as Waterhouse do not invalidate current offer.
  I wuld not worry about that. From a phone call I just made, the regulators have not yet approved, and if they do, the merger would be about September.

The money must stay for 90 days, so you would have your bonus by then.

The accounts will be moved over to Ameritrade, and there is always some risk of problems. If a day trader this would scare me, but I am not (and do not suggest you be one).

If you are thinking of doing repeated account moves for bonuses, a lot of work and a real pain at tax time if you end up with many accounts, the merger may be good for you.

Many firms will eventually refuses to give bonuses to one who moves in and then out repeatedly. If given a choice of firms to ask for bonuses, I would take a firm soon to disappear. This is because it is less likely to prevent you from taking advantage of future bonus offers later. Since clients will be migrated to the Ameritrade system, I suspect it would be just enough of a hassle to see you had been given a bonus to come, that it would not prevent you from receiving other incentives later.

The fellow I just talked to said they were being more flexible than usual in negotiating bonuses (I asked about bringing substantially more than a million over). I was told the offers come from the branch managers (probably after clearing with higher ups).

In my area both Ameritrade and Scottrade have branches, and it is very likely they will be consolidated. The manager will want to have a good record at the time of the decision on whether to keep him, and on what terms, and I suspect will argue hard for them to be generous.

I wold not be surprised if the final price depends on Scottrade's "assets under management", and this could create an incentive to be generous on bonuses for bringing more assets over to them.

If you are to go for multiple bonuses, but don't like dealing with multiple firms, soliciting bonuses from both Ameritrade and Scottrade might be good, and then you would expect to have the accounts consolidated.

Thus, for those who collect bonuses, Scottrade appears near the top of the list.

 



 

rated:
The money must stay for 90 days, so you would have your bonus by then.

Is the Scottrade required holding period only 90 days? I thought it was a year for some reason.

rated:
tjguitar85 said:   
The money must stay for 90 days, so you would have your bonus by then.

Is the Scottrade required holding period only 90 days? I thought it was a year for some reason.

  The fine print on the link above does say one year, so either I was wrong or the phone representative gave me a different time. If this is important you should check before moving money.

rated:
ProfessorEd said:   
tjguitar85 said:   
The money must stay for 90 days, so you would have your bonus by then.

Is the Scottrade required holding period only 90 days? I thought it was a year for some reason.

  The fine print on the link above does say one year, so either I was wrong or the phone representative gave me a different time. If this is important you should check before moving money.

  On phone call told the holding period was indeed one year, which would extend past likely merger. Sorry.

rated:
Of course, if really worried abut having taken one offer may block you in the future from offers, you may wish to take offers from both Ameritrade and Scottrade now.

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
     
    Click here for full-featured reply.


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017