Promo extended. To celebrate their 10th anniversary, stock brokerage TradeKing is offering a $200 cash bonus for new accounts opened by 12/31/2015, funded with $3,000 or more within 30 days of account opening, and with at least 3 executed trades within 90 days of account opening. You must keep the $3,000 in account equity (minus any trading losses) for at least 6 months.
This is probably the biggest bonus I’ve seen for this account, the standard offer is $50. TradeKing charges a flat $4.95 for online stock trades; so $200 would cover 40 trades. Option trades are also $4.95 + 65 cents per option contract.
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hmm, I am not sure, giving out all my info for $200.
I am
What do existing customers get? Jack squat. Plus poor customer service. Thanks Tradeking.
I had an account several years ago and closed that in 2009. (my login still works to access that information from the closed account). Would I be able to get this bonus for moving back to Tradeking?
Just spoke with customer service… the answer is no, if you have EVER had an account you don’t qualify. Bummer.
Bummer??? Dan, you are better off not doing it. I know I would not do it. To go through the process of account opening and then tie up $3000 for 6 months only to get $185 ($200 minus the 3 trades you have to make). No, thanks.
$185 on $3000 over six months is 12.3% APR, a great rate in my opinion. While I suppose the money is “tied up”, it’s not as though the money is sitting under a rock somewhere as you’re investing in equities.
This is a great deal that I plan on taking advantage of tonight.
That goes against the stated rules. The rules say you are ineligible if you have an account or had one in the last 30 days.
Could you do an online chat with them to hold them to their written word?
Anyone currently use Tradeking? How is their integration with TurboTax? That seems to be the most painful thing about my current broker.
Would you recommend Tradeking over CapitalOne?
I have personally been using TK since 2008 and ive had a great experience. This is a sweet offer. too bad it doesnt apply to existing customers.
Just an FYI, anytime you receive a cash bonus (like these deals), you typically get a nice 1099 that needs to be reported. So thanks to Uncle Sam, you’re looking to pay about 50% of that back in taxes. Just keep that in mind when thinking about opening up this deal.
I find that Credit Card bonses that are points based and cash back are the way to go. Some offer bonuses of $500 in value or more. Free money that is not taxed.
True points, although a lot of people have lower marginal tax rates than 50%. A married filing joint household could have $74,900 in taxable income and still be in the 15% federal bracket and live in a state without their own income tax like Florida, Texas, and others.
I prefer credit card bonuses as well due to their size and tax-free nature. I want to add that my experience while nearly 100% of banks give 1099s, only about 1 in 4 brokerage accounts give 1099s.
For me, I found that 3 of 3 brokerages report the bonuses as 1099-misc; probably since my holdings in each paid a dividend. I was wondering if they report the bonus as 1099-misc, when we file our taxes, can we deduct $14.85 for the 3 required stock trades from the $200 bonus amount??
I doubt it. I got $240 from the santander promotion last year, but ahd $110 in overage fees (long stupid story). Guess how much I got taxed on….
Hey Jonathan,
Thanks for letting us know about the promotion. I opened and funded the account last night and will wait patiently for the bonus after the 3 trades.
This reminds me of the $500 bonus for OptionsXpress you alerted us to many moons ago. Thanks so much for that one too!
Aj
Are there any current better ones than the $200 tradeking? Assuming not, i’ll sign up now.
Anyone know if this offer is one per person or one per household, i.e. can my wife and I both sign up and each get a bonus?
Now when I click on the offer it says it expires May 31.
just got my bonus
Made 3rd trade on 5/5(Tue), got bonus 5/8(Fri). Setting a reminder to sell investments on 11/1 so that it will clear and i can transfer on 11/5.
Thanks Jonathan!
Any idea whether this would work with an IRA? Looking at the validity dates on the linked page, I was thinking I could open the account in late December but fund it in January with 2016 money. I realize that what’s left of the $200 after fees would stay in a taxable brokerage account, but I can live with that.
That is an awesome promotion for investors. Let’s say you are an index investor and put $3,000 in Tradeking. You purchase SPY/IVV/VOO on three occasions and pocket the $185 difference. Don’t know about you but this is equivalent to “beating the market” for 6 years in a row by 1%. All Risk free.
Too bad I already have a TK account, and have had one for 8 years.