Update 8/3/21: There is a new deal, up to $4,000 for existing customers and $3,500 for new customers. Bonuses for existing customers are slightly lower, but there is a higher $2mill+ tier for $4,000.
Update 2/1/21: Deal has been extended until February 28, 2021.
Update 6/1/20: Extended until December 31st, 2020. Bonuses have been reduced
- E*Trade is offering a bonus of up to $3,500 when you open up a new E*Trade account using a referral link (the bonus referring you will receive a $50 Amazon gift card). Bonus is tiered depending on how much you deposit in cash or securities within 60 days of account opening.
- $5,000-$24,999 will receive $100;
- $25,000-$99,999 will receive $200;
- $100,000-$199,999 will receive $500;
- $200,000 – $249,999 will receive $800;
- $250,000-$499,999 will receive $1000;
- $500,000-$999,999 will receive $1,500;
- $1,000,000 or more will receive $3,500
- $2,000,000+ will receive $4,000 (existing customers only)
The Fine Print
- If you deposit $250,000-$499,999, you will receive a cash credit within seven business days
- . If you have deposited at least $250,000 in the new account, and you make subsequent deposits in that account to reach a higher tier, you will receive a second cash credit following the close of the 60-day window.
- For example, if you deposit $300,000, you will receive a cash credit of $1000 within seven business days, then if you deposit another $200,000 you will receive an additional cash credit of $500 at the end of the 60-day window for a total reward of $1,500
- If you deposit $1,000,000 or more, you will receive a cash credit within seven business days.
- All other reward tiers ($5,000-$24,999; $25,000-$99,999; $100,000-$199,999; $200,000 – $249,999; $500,000-$999,999) will be paid following the expiration of the 60-day period.
- In addition, if you deposit $500,000 or more into your new account, deposits made in eligible linked accounts during the 60 day period will be aggregated for purposes of the reward and the credits will be paid pro-rata to all accounts where deposits were made during the 60-day period. For example, if you have deposited $500,000 in your new account during the 60 day period, and during the same period you deposited $100,000 into another eligible account you have linked to the new account you will receive $1,250 in your new account and $250 into the other eligible account.
- Account holders must maintain the funds (minus any trading losses) for at least six months or credit may be surrendered.
This is better than standard new user deal and the same as the existing user deal. Definitely one of the best brokerage bonuses that is currently available. Do not share your referrals in the comments below, instead you can share them on this linked page.