Update: TradeKing is giving a $50 bonus to new account holders who open their accounts in November with at least $3,000. This bonus has been extended through November 30th, 2012.
TradeKing, one of the best online discount brokers is offering up their yearly promotion of a free $50 when you open a new TradeKing account. This year’s bonus is slightly more difficult to obtain than years before (three trades need to be made vs. one in the past / $3,000 must be deposited vs. $2,500 in the past) but it’s still an excellent incentive to start investing a bit into stocks and funds.
Rules on Earning the $50 TradeKing Bonus
To get the $50 bonus, here are the steps you’ll need to make:
- Open a new TradeKing Account (using the links above or below) by November 30th, 2012.
- Fund the account with $3,000 within 30 days of opening. This amount of money (minus any losses incurred) must stay in the account for a period of no less than 90 days, or the $50 bonus could be forfeited.
- Make three trades within 180 days of the account opening.
- Get paid $50.
I’ve been using both TradeKing and OptionsHouse for my trading needs for the past few years now and I have no complaints about either. The trading is $1 more expensive with TradeKing but because I’m an infrequent trader (maybe a few dozen trades a year at best), the difference is negligible and the community TradeKing provides far exceeds that of OptionsHouse.
This $50 bonus does not stand alone as a reason to sign up for a TradeKing online brokerage account. When you factor in the cost of trades and the time you must keep your account open, you’re talking about just over a 1% return on your money in 90+ days (which can be stretched out for a modest 4% return over the course of a full year). Instead, consider this bonus as a push to get you started with one of the best discount brokers the world has to offer.