If you’re thinking about opening a new E*TRADE account, you might be wondering how to get the bonus that comes with it. This guide will help you understand the requirements and steps needed to qualify for the bonus. Whether you’re a new customer or an existing one opening a new account, there are specific rules to follow to make sure you get the most out of your investment.
Key Takeaways
- To qualify for the bonus, you must open a new brokerage account and fund it within 60 days.
- Use promo code OFFER24 when opening your account to ensure you receive the bonus.
- The more money you deposit, the bigger your cash bonus will be, ranging from $50 to $6,000.
- You need to keep your funds in the account for at least six months to keep the bonus.
- Avoid common mistakes like missing the funding deadline or using the wrong promo code.
Understanding the New E*TRADE Account Bonus
Eligibility Criteria for the Bonus
To qualify for the E*TRADE account bonus, you must meet certain requirements:
- Open a new brokerage account (not a retirement account).
- Use the promo code OFFER24 during the account setup.
- Fund your account within 60 days of opening it.
Types of Accounts That Qualify
The following accounts are eligible for the bonus:
- New E*TRADE brokerage accounts (non-retirement).
- Existing customers can also open new accounts to earn bonuses.
Important Dates and Deadlines
- Offer Enrollment Deadline: January 31, 2025.
- Funding Deadline: You must fund your account within 60 days of opening it.
- Maintain Funds: Keep your deposits in the account for at least 6 months to receive the bonus.
| Deposit Amount | Cash Bonus |
|---|---|
| $1,000 – $4,999 | $50 |
| $5,000 – $19,999 | $150 |
| $20,000 – $49,999 | $200 |
| $50,000 – $99,999 | $300 |
| $100,000+ | $600 |
Note: The more you deposit, the higher your bonus can be. This is a great way to start automatic investing and build better financial habits!
Steps to Open a New E*TRADE Account
Creating Your E*TRADE Account
To start your journey with E*TRADE, creating an account is the first step. You can do this by visiting their website and filling out the required information. Make sure to have your personal details handy, such as your Social Security number and contact information.
Entering the Promo Code
When you open your account, don’t forget to enter the promo code OFFER24. This code is essential to qualify for the bonus. You can use this code only once, so ensure it’s entered correctly during the sign-up process.
Funding Your Account
After your account is set up, the next step is to fund it. You need to deposit money within 60 days of opening your account. Here’s a quick overview of the funding requirements:
| Deposit Amount | Cash Credit |
|---|---|
| $1,000 – $4,999 | $50 |
| $5,000 – $19,999 | $150 |
| $20,000 – $49,999 | $200 |
| $50,000 – $99,999 | $300 |
| $100,000 – $199,999 | $600 |
| $200,000 – $499,999 | $800 |
| $500,000 – $999,999 | $1,000 |
| $1,000,000+ | $3,000 |
Make sure to transfer money from an external account, as this will count towards your bonus. It may take up to three business days for the funds to appear in your new account.
Remember, the more you fund, the more you earn!
Funding Requirements for the E*TRADE Bonus
Minimum Deposit Amounts
To qualify for the E*TRADE bonus, you need to make a minimum deposit. Here’s a quick look at the required amounts:
| Deposit Amount | Cash Credit |
|---|---|
| $1,000 – $4,999 | $50 |
| $5,000 – $19,999 | $150 |
| $20,000 – $49,999 | $200 |
| $50,000 – $99,999 | $300 |
| $100,000 and above | $600 |
Deposit Tiers and Corresponding Bonuses
The more you deposit, the higher your bonus can be. Here’s how it works:
- $1,000 – $4,999: $50 bonus
- $5,000 – $19,999: $150 bonus
- $20,000 – $49,999: $200 bonus
- $50,000 – $99,999: $300 bonus
- $100,000 and above: $600 bonus
Maintaining Your Deposit
Account holders must maintain the funds (minus any trading losses) for at least six months. If you withdraw early, you may lose your bonus. It’s important to keep your funds in the account to avoid any penalties.
Remember, any money you transfer from another ETRADE account does not count towards this promotion. You must deposit new funds from outside ETRADE to qualify for the bonus.
Maximizing Your E*TRADE Bonus
Strategies for New Customers
- Open a new account: Start by creating a new E*TRADE account and enter the promo code REWARD24 during the signup process.
- Make a significant deposit: To earn the highest bonus, consider depositing at least $1.5 million. This can yield a bonus of up to $5,000.
- Keep funds in your account: Ensure that you maintain your deposit for at least six months to qualify for the bonus.
Tips for Existing Customers
- Utilize multiple accounts: If you have existing accounts, you can still earn bonuses by depositing into a new account.
- Combine deposits: Pool your funds across accounts to reach higher deposit tiers for larger bonuses.
- Stay informed: Regularly check for updates on E*TRADE promotions to maximize your benefits.
Combining Deposits for Higher Bonuses
| Deposit Amount | Cash Bonus |
|---|---|
| $50 to $999 | $100 |
| $1,000 to $19,999 | $150 |
| $20,000 to $99,999 | $300 |
| $100,000 to $199,999 | $600 |
| $1,500,000+ | $5,000 |
Remember: The more you deposit, the more you earn. Make sure your deposits come from outside E*TRADE to qualify for the bonus!
Common Mistakes to Avoid
Missing the Funding Deadline
One of the biggest mistakes is not funding your account on time. Missing the deadline can mean losing out on the bonus. Make sure to check the specific dates and plan ahead.
Withdrawing Funds Too Early
Another common error is withdrawing your funds too soon. If you take out your money before meeting the requirements, you may forfeit your bonus. Always keep your funds in the account until the conditions are satisfied.
Not Using the Correct Promo Code
Using the wrong promo code can lead to disappointment. Ensure you enter the correct promo code when signing up. Double-check the code before submitting your application.
Remember, small mistakes can cost you big rewards. Stay informed and follow the guidelines carefully to maximize your benefits.
Summary of Common Mistakes
| Mistake | Consequence |
|---|---|
| Missing the funding deadline | Lose bonus |
| Withdrawing funds too early | Forfeit bonus |
| Not using the correct promo code | No bonus received |
Comparing E*TRADE Bonus with Other Brokerages
When looking at brokerage bonuses, it’s important to compare what different companies offer. E*TRADE’s bonuses are often more generous than many competitors. Here’s how E*TRADE stacks up against some popular brokerages:
E*TRADE vs. Robinhood
- E*TRADE offers cash bonuses based on deposit amounts, ranging from $100 to $5,000.
- Robinhood typically does not offer cash bonuses but provides free stocks for new users.
- E*TRADE has a wider range of investment options compared to Robinhood.
E*TRADE vs. eToro
- E*TRADE provides bonuses for both new and existing customers, depending on their deposit amounts.
- eToro offers a unique social trading feature but lacks a structured bonus system like E*TRADE.
- E*TRADE has lower fees for trading compared to eToro’s spreads.
E*TRADE vs. J.P. Morgan Self-Directed Investing
- E*TRADE has a more extensive selection of investment tools and resources.
- J.P. Morgan offers a simpler bonus structure but may not match E*TRADE’s cash bonuses.
- E*TRADE’s platform is more user-friendly for beginners.
| Brokerage | Bonus Structure | Key Features |
|---|---|---|
| E*TRADE | $100 to $5,000 cash bonuses | Extensive investment options |
| Robinhood | Free stocks for new users | Simple trading interface |
| eToro | No cash bonuses, social trading | Unique social trading features |
| J.P. Morgan Self-Directed | Simpler bonus structure | Strong banking integration |
E*TRADE’s bonuses can be a great way to maximize your investment potential. Always compare offers to find the best fit for your needs!
Final Thoughts on E*TRADE Account Bonuses
In conclusion, qualifying for the E*TRADE account bonus is a straightforward process. By opening a new brokerage account and funding it with new money within 60 days, you can earn significant cash credits based on your deposit amount. Remember to keep your funds in the account for at least six months to secure your bonus. Whether you’re a new or existing customer, this offer provides a great opportunity to boost your investment journey. Make sure to use the promo code OFFER24 and take advantage of this limited-time offer before it expires on January 31, 2025.
Frequently Asked Questions
Kuldeep Nirgude is a computer science student with a strong interest in finance and marketing. With a focus on analyzing industry trends, he writes articles that simplify complex concepts and empower readers to make informed decisions. Kuldeep is dedicated to bridging the gap between technology and business, and is committed to staying updated on the latest innovations shaping the economy.