The Supply
TradeUp brokerage is providing the next three bonuses which stack collectively:
- New TradeUp brokerage who make an ACATS switch from one other brokerage into TradeUp by December 31, 2024 are eligible for two% cashback on the transferred quantity. Max $1,000 bonus (switch $50k or extra to get the max $1,000 bonus).
- Purchasers who switch $100,000 or extra to their TradeUP account and preserve their transferred belongings for a 12 months will obtain a further 1% match ($1,000 capped match).
- Those that signup with TradeUp additionally get some free shares: 2 for $100 deposit, 3 for $2,500 deposit, 4 for $10,000 deposit, 5 for $100,000 deposit.
Supply legitimate August 5 – December 31, 2024. You could find this provide on the TradeUp homepage scroll and talked about on this web page; discover the phrases on this web page. You could find the 5 inventory provide on this web page and the phrases on this web page.
Vital Notes
- There’s a $50 charge for doing a full account ACAT-out, so hold that in thoughts if you happen to aren’t certain that you just’ll be staying with the brokerage endlessly.
- It seems these bonuses are all for brand new clients (“new shoppers“).
- Purchasers who switch belongings from a brokerage account that was initially opened by way of TradeUP Securities, Inc. and now clears solely by way of Interactive Brokers aren’t eligible for this marketing campaign.
- This promotion applies solely to an account’s first ACAT switch that qualifies for this promotion. Subsequent ACAT transfers is not going to qualify for this promotion.
- An account is claimed to have “maintained the worth of the transferred belongings” if it doesn’t provoke any withdrawals or outgoing account transfers through the specified interval. Transactions involving securities purchases and adjustments in asset valuation don’t have an effect on reward eligibility. Nevertheless, withdrawals or account transfers will lead to forfeiture of the reward.
- Cashback Distribution: Cashback will likely be distributed quarterly, with funds made on the final enterprise day of every fiscal quarter. The utmost cashback quantity per quarter is $350. The distribution schedule follows under: After the primary 90 calendar days: Purchasers should preserve their account belongings for a full 90 calendar days from the settlement date. The primary cashback installment will likely be distributed on the finish of the primary full fiscal quarter after the 90 calendar day interval. For instance, if the settlement date is August 15, 2024, the primary cashback installment will likely be distributed on December 31, 2024. Subsequent Quarters: Cashback will likely be distributed on the final enterprise day of every subsequent fiscal quarter. For instance, if a consumer completes an ACAT switch of $50,000 and qualifies for a 2% cashback bonus, they are going to obtain a complete of $1,000. This quantity will likely be distributed in installments of $350 for the primary quarter, $350 for the second quarter, and $300 for the third quarter. If the switch date is August 15, 2024, the primary $350 installment will likely be distributed on December 31, 2024, with subsequent installments of $350 and $300 distributed on March 31, 2025 and June 30, 2025, respectively. By collaborating on this marketing campaign and receiving the cashback bonus, you agree that the cashback bonus is not going to be issued till the top of the primary full fiscal quarter after the 90 calendar day holding interval is full. The cashback bonus is topic to forfeiture if the account is transferred out inside 90 calendar days of the cashback issuance. Sure restrictions could apply if you request withdrawal of the cashback bonus.
- The place required by relevant guidelines and rules, the worth of all TradeUP Securities Inc. affords obtained could also be reported as Different Earnings on Kind 1099-MISC. TradeUP Securities Inc. isn’t chargeable for particular person tax reporting associated to this reward program.
Our Verdict
If you happen to switch in $50k you’ll get $1k bonus and round $40/$80 in free inventory. If you happen to switch in $100k you’ll get $2k bonus and round $50/$100 in free shares. And you may rise up to $300 to cowl any charges out of your outdated brokerage firm.
General this provide is from the higher brokerage bonuses we’ve seen. We’ll add this to the checklist of Finest Brokerage Bonuses.
Although the lengthy maintain occasions are a ache, I’m nonetheless considering of hitting this one. I’ll signup on the provide touchdown web page within the coming weeks and switch $100k from my present brokerage account in a single ACAT switch to TradeUp. I’ll get 5 free shares straight away which will likely be value $50 or extra. Then I’ll get $350 on March 31, 2025 and one other $350 on June 30, 2025 and one other $300 on September 30, 2025 to finish the $1k bonus for the two% half. I’ll additionally get one other $1,000 bonus for the 1% $100k match (it’s not clear within the wonderful print when that $1k bonus will payout). I’ll then depart my funds there till at the very least the top of 2025 for the reason that wonderful print mentions leaving funds till 90 days after bonus payout.
If anybody has used TradeUp prior to now, kindly share your experiences with them within the feedback under. Particularly I’d be considering figuring out whether or not cost-basis transfers over correctly when transferring shares from one other brokerage.
Hat tip to reader Lrdx