Online Brokerages Offer $50 Bonus and Free Stock Trading
October 24, 2008
Investing in the stock market comes with bonuses this month: a TradeKing $50 Promotion, ShareBuilder $50 Bonus, and free stock trades at Zecco.
The TradeKing $50 promotion for new customers is over at the end of this month. You get your $50 bonus after you make your first trade with TradeKing so if you’re interested be sure to sign up before the end of the month. Learn more about the benefits of the brokerage in the TradeKing review.
I’ve never used the online brokerage myself but they have low commissions ($4.95 a trade) and come highly recommended, ranked #1 in customer service by SmartMoney magazine.
Speaking of low commissions, Zecco is offering unlimited free stock trades for the month of October. They typically give you the first 10 trades for free but this month their promotion includes no limit on the number of equity and options trades.
ShareBuilder is also offering a $50 bonus for opening a new account and making a trade. This promotion is double ShareBuilder’s previous $25 offer from last month so it’s a pretty good deal. Your $50 bonus will be deposited after you make your first trade.
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Zecco sucks as far as holding on to your money. They like to keep it for 5 business days to make sure it clears, this is for ACH transfers.
So if you think you see a good bargin on a stock, make sure you already have the money in your Zecco account to purchase or it could take a calendar week to buy it!
The hold is probably a way for them to make money off of the float, that makes up for the “free” trades.
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