2010 Brokerage Promotions

Now that the new year has begun a lot of new brokerage promotions have popped up to get people to open a new account. The Dow Jones is hovering around 10,000 so we are still a little off of the high from 2 years ago. If you have some extra cash to invest, now is the time to get it working for you.

Here are some of the current brokerage promotions that offer some kind of cash bonus or free trades:

• OptionsXpress Promo- OptionsXpress is offering a $100 bonus when you open a new account with them. (See post for more details)
• Tradeking Promo- Get $50 when referring a friend to Tradeking. There is no limit to how many $50 referral bonuses you can get (see post for more details)
• Optionshouse Promo- Get 100 free trades when you open a new account, with $2.95 flat rate stock trade commisions. They have one of the lowest stock trading commissions out there. (see post for more details)
• ETrade IRA Promo- Open an ETrade IRA and get 100 free trades. (See post for more details). Open that 2009 IRA by April 15th, 2010.
• Zecco Promo- Zeccobrokerage gives you Get 10 free stock trades every monthif you $25,000 balance or make 25 paid trades each month. Otherwise the commission is only $4.50 / trade which is one of the lowest out there. (See more details here)
• Firstrade Promo- Firstrade is giving away 5 free trade when you open a new account. (See post for more details). Firstrade offers a low $6.95 commission per trade.

If you know of any others, please add them in the comments and I will add to this post.

$50 Tradeking Promo – May 2010

There is a new Tradeking Promotion this month where you can get a $50 bonus when opening a new account. This bonus is referral based so you need to receive a referral email from me to qualify for it.:

• Open a Tradeking brokerage account by completing the form on the Tradeking Promotions Page  or complete the form below with your email address.
• Open a new Tradeking account using the link in the email
• Deposit at least $1000 into the account and execute 1 trade
• Leave the referral money in the account for at least 6 months

Thats it, once the 6 months period is up you can do what you want with the 50 bonus. Not a bad 5% return if you deposit only the requred $1000. Also keep in mind that you can refer others as well once your account is opened. You will receive a $50 referral bonus when you friend opens an account. That friend will receive the $50 as well. There is no limit to how much you can make here.

If I already didn’t have a tradeking account, you bet I would be in on this one!

This offer expires June 3, 2010.

1. Send a $50 TradeKing Referral To:
2. Your Email Address:(valid email required)

 

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(note: your email is not used for anything other than sending you the referral email)

Go to the Tradeking Promotions page for more details.

I also have a Tradeking Review out there if you are interested in reading about my experiences with them.

$100 OptionsXpress Bonus With New Accounts

There is a currennt OptionsXpress Bonus available where you can get $100 when opening a new account.

All you need to do is open a new OptionsXpress account, fund it with a minimum of $500, and make 3 trades within 1 year of the account opening. You also need to keep at least $500 in the account for 6 months. The $100 will then be paid out after those 6 months assuming you have completed the above requirements.

OptionsXpress offers a full set of trading tools. You can trade stocks, options, mutual funds and more. I have been using OptionsXpress for a while now and am very happy with their service, see my OptionsXpress Review for more details on their service.

This is an easy $100 in your pocket if you are looking for a new brokerage account and can handle making 3 trades. Check out the OptionsXpress Bonus page for more details on this offer.

ETRADE Promo – Get 60 Days of Free Trades | Bonus Promotion

Tired of having those pesky stock trading commissions cut into your investment profits? Then get 60 days of free trading through the latest ETRADE Promotion.

When you open a new Power ETRADE Account and fund it with $2000, you will receive free trading for up to 6o days from the account opening date. The total number of free trades cannot exceed 500 within those 2 months. Accounts must be opened by December 31, 2010.

The clock on the 60 days of free trades starts on the day you open the account so it is best to fund the account immediately during the opening process with a linked checking account.

ETRADE normally charges $9.95 per trade, so if you were to make 500 trades within 60 days you could potentially save $4975! I think all those day traders out there are getting excited about this. See the promotion page for more details.

If up to $5000 in free trades isn’t enough to get you excited, then check out the $100 cash you can get through the latest OptionsXpress Promo

$100 OptionsXpress Promo – 2010 [Promotion Bonus]

There is a new OptionsXpress promo where you can get $100 when opening a new account.

You need to open an account (using the link below) with at least $500 by December 31st 2011 and execute 3 trades within 12 months of the account opening. The $100 bonus will be deposited into the new optionsXpress account within one month after meeting the terms and conditions of this offer

Learn how you can get $100 when you open up a new optionsXpress account.

OptionsXpress is a online brokerage that allows you to trade options, stocks, futures, mutual funds, bonds and more in one account. They have a flat rate of $14.95 / trade for stock, but what is even more enticing is that if you are an options trader they charge $15 or a 10 contract option order. Most brokerages charge a flat commission for options then charge an extract dollar per contract. OptionsXpress has included 10 contracts in that price which helps keep commissions low when trading options.

I have an OptionseXpress account that I use for trading options and really like their service. They have an ACH feture where you can link your checking account to move money in and out of your optionsxpress account. They have a fast trade execution which is always important to me when I am trying to put in orders at or near the current stock price.

Another great feature they offer is a virtual trading account where you can practice with fake money. This is nice if you are new to the market and want to play a bit before investing real money.

They have also rolled out an easy to read options naming, where you can easily distinguish your options holdings from your stock holdings. I have never had to deal with their customer service so I cannot comment, however live chat and calling their 1-800 number for help is always available.

If you are looking for a great brokerage and a quick $100 to help with future commisions, then sign up today:
Learn how you can get $100 when you open up a new optionsXpress account.

Max Out Your 2009 ROTH IRA

If you have’nt maxed out your ROTH IRA, you may want to consider doing so prior to submitting your 2009 taxes. The IRS allows you to make a 2009 ROTH IRA contribution during 2010 as long as you complete it before April 15th 2010 (taxes due date) and you note it on your 2009 taxes.  For those of you  beginners out there, a ROTH IRA is funded with after tax money. The benefit is that as the investment grows over time, once you retire and start to take distributions from it, that money is tax free. This can be very advantageous depending on your tax situation now and when you retire, which is why the IRS puts a cap on the amount you can contribute.

This year you can contribute $5000 to your ROTH IRA if your modified adjusted gross income (MAGI) is below $166,000. If you income exceeds $176,000, they you not eligible to contribute to a Roth IRA for 2009.

If your MAGI is between $166,000 and $176,000, then you can contribute some amount less than their full limit. My advice here is to prepare your taxes first using the $5000 contribution, your return will tell you how much overpayment there was. Then subtract that from the $5000, and make that your ROTH contribution. Deposit those funds into your IRA, then file your taxes with that same number.


The jury is still out as to if ROTH IRA’s will be around forever so it makes sense to get in now while it is still good. If you are looking for a good ROTH IRA provider you make check out an ETRADE ROTH IRA. They have a current promotion where you can get $100 free trades when opening a new ROTH IRA by December 31, 2010.

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